04 Dec 2019

Startup NEWS, Dec 4, 2019

1. UPI cash withdrawals in Bank of India soon

  • Public sector lender Bank of India (BoI) has already introduced this facility for its own customers, in partnership with Mumbai-based payments company AGS Transact Technologies.
  • As of now, only the bank’s own customers are able to use this feature, but once interoperability is opened up, other bank customers can avail of the service.

2. Mobility startup Damon Motors enters the e-moto arena with EV debut

  • Vancouver-based mobility startup Damon Motorcycles has entered the EV arena with a preview of its first e-moto, the Hypersport Pro.
  • The seed-stage company had previously focused on creating digital safety technology — like its 360-degree radar detection system — to augment two-wheelers made by other manufacturers.
  • Damon has determined to create its own EV model designed to overcome common flaws it sees in existing motorcycle offerings.

3. Y Combinator bets big on Indian startups

  • Y Combinator has selected 28 Indian firms for its winter batch, more than twice what it selected for its summer batch
  • Y Combinator is typically a 2-3 month program where startup founders get to interact with industry experts as well as other founders and investors while building their business

4. Customer Loyalty Startup Froogal Raises $1 Mn Seed Round From US-based Angel Investors

  • The funding will be used for geographical expansion, global partnership, and product enhancement
  • Frugal leverages data-driven insights to deliver a personalized, automated and more
  • The global loyalty market is expected to touch $9.2K Mn by 2024

5. Credit startup Migo expands to Brazil on $20M raise and Africa growth

  • Migo generates revenue through interest and fees on its products. With lead investor Valor Capital Group, Velocity Capital and The Rise Fund joined the startup’s $20 million Series B.
  • The San Francisco-based company — previously branded Mines.io — provides AI-driven products to large firms so those companies can extend credit to underbanked consumers in viable ways.


About Philomathes Jigyasu

Philomathes (pronounced as fillo-MAY-thus) is a fictional character at VAYUZ (https://www.vayuz.com), who is on a never ending journey called “LEARNING”. In a way, Philomathes embodies VAYUZ - Way of life, which is if you are not learning then you are not breathing. The word Philomathes, comes from the Greek roots philo and philein meaning "to love" and the Greek roots mathos (MAH-thos) and mathesis (muh-THAYSIS) meaning “learning”. Philomathes through his Blogs and Vlogs (Video Blogs) will share his experience, learnings and thoughts. In his tryst to learn and understand, he would also seek answers to questions. So if you would like to join him in this incredible journey called “ life” then feel free to write to him on philomathes.jigyasu@vayuz.com. Always remember, knowledge is all around us, we just need to keep our guards down and senses on.

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