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STARTUP NEWS AND UPDATES as of May 19th, 2023.

The founder of Ironhill purchases nine Dunkin’ Donuts outlets.  Teja Chekuri, an international restaurateur and businessman with a basis in India, paid $ 18 million buying nine Dunkin’ franchises through his business Golden Horn Group. In the upcoming six to eight months, the ownership shift will be completed.  “Getting a Dunkin’ franchisee is really difficult, therefore this is a historic development for our business. They have established an excellent standard for industry growth, and when it is met, advancement is enhanced, according to Chekuri. For this deal, Dunkin’ took almost two years to officially approve. The nine businesses are spread throughout Massachusetts, particularly in and around Boston.

By improving its backend infrastructure, the company intends to buy 150 more Dunkin’ Donuts locations in the US over the next five years. “As we restructure teams to pursue this target, our current expertise in establishing international concepts in the global restaurant industry will add to the vibrancy and growth of the brand,” he continued. Dunkin Donuts, a company headquartered in Massachusetts, is well known for its assortment of donuts, bagels, coffee, and “Munchkins” donut holes.


There are currently 13,000 franchises in existence. Ironhill Brewery was founded by Teja Chekuri, who also serves as its managing director. The ONDC (Open Network For Digital Commerce) network will be accessible to boAt’s products thanks to a partnership between Shopalyst and the audio and wearables company. The company stated in a statement that thanks to this integration, boAt’s catalogue would be made accessible on ONDC across all buyer applications that a customer can shop from. With this, boAt hopes to establish numerous points of contact with customers. Customers will be able to purchase the company’s products, including speakers, TWS, neckbands, smartwatches, and headphones, in the network’s electronics section. By FY24, Wakefit hopes to earn Rs 1100 crore in revenue. Direct-to-consumer company Wakefit reported that it generated Rs 825 crore in revenue in FY23, representing a 30% YoY (year-over-year) increase over FY22. This has been accomplished by placing a strong emphasis on brand-building efforts, supply chain operations scalability, and omnichannel development. In the future, Wakefit wants to broaden its geographic reach and increase the number of items it offers.

By FY24, it hopes to generate Rs 1100 in income. The company, which focuses on sleep and home solutions, has 22 physical locations across 15 cities in the nation. Chaitanya Ramalingegowda, Director and Co-Founder of Wakefit, stated that the company is constantly working to deliver high-quality items at competitive costs. In the following three years, the firm intends to add about 100 more stores. According to a release, the offline outlets were crucial in helping the company earn Rs 825 crore in sales in FY 2023. To combat range anxiety, Intangles introduces Ambient Cognitive AI Technology. Intagles Lab Pvt. Ltd., a developer of Digital Twin Solutions, has introduced its Ambient Cognitive AI Technology for Electric Vehicles (EVs). One of the main obstacles to the adoption of EVs is range anxiety, which is explicitly addressed by the algorithms. 

In an SAE International investigation, it was discovered that EVs typically delivered a range that was 12.5% less than what was stated. The platform from Intangles offers a complete solution by taking into account projections for the weather, motor performance, and vehicle dynamics, as well as accounting for battery deterioration over time. Aman Singh, co-founder and head of analytics, stated that “our models are able to reach accuracies of 94–96% across a variety of driving conditions, thus supplementing range projections on vehicle HMIs.”

It is made to support a range of EV platforms, including heavy commercial vehicles and three-wheelers for last-mile mobility. Tumbledry reports a 377% increase in revenue in FY24. Tumbledry, a brand of dry cleaning and laundry services, saw a 377% increase in sales in FY23, reaching Rs 116 crore. The business revealed today that it reached a Gross Merchandise Value of Rs 115 crore in FY23, becoming a Rs 100 crore brand. It credited its focus on quality, which resulted in a 70% client retention rate, for its rise. 6.5 lakh consumers are served by Tumbledry’s 500 outlets in India, according to information given by the business.

In FY23, the company opened more than 300 new stores. The founder of Tumbledry, Gaurav Nigam, claimed that the brand’s quick development into smaller cities and villages had aided in the company’s expansion. The brand brought in 6.5 crore rupees in FY20, 14.4 crore rupees in FY21, and 24.3 crore rupees in FY22. It aims to generate Rs 225 crore in revenue in FY24.

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