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Kabaddi on the blockchain

Kabaddi on the blockchain

This the week, a funding deal has lifted the spirits of the startup ecosystem. After a paltry $111m raised last week, Indian startups nabbed nearly $300m, boosted by upGrad closing a round worth $210m.

Meanwhile, Life Insurance Corporation of India (LIC) reported a several-fold increase in its consolidated net profit for the quarter ended June 30. The insurance company recorded a profit of Rs 602.78 crore in April-June, compared to Rs 24.36 crore during the same period last year.

In other news, an Indian has won a 22-year legal battle in a consumer case against the railroads. The plaintiff, Tungnath Chaturvedi, had been charged an additional Rs 20 for two train tickets in 1999 to Mathura. After the clerk did not offer a refund despite his complaint, he decided to press charges against the rail authorities, as well as the reservations clerk.

Now, “over 100 hearings later,” the consumer court ruled in favor of Chaturvedi last week. He ordered the railways not only to repay the Rs 20, at 12% interest per annum from 1999 to 2022, but also to pay him a fine of Rs 15,000 rupees.

Oh, and here’s a video from a drunken bear to “crazy honey” to start your long weekend.

It’s time to fall asleep!

Kabaddi on the blockchain

What if instead of cheering on a kabaddi match from the sidelines, you could influence the gameplay of your favorite team?

Walk in Sports Channela blockchain startup that aims to “empower” kabaddi fans to actively engage with the team of their choice and participate in team decisions using tokens (crypto assets).

Hu you you:

  • The fan engagement platform is built on Polygon, an infrastructure provider.
  • Polls take place on the Ethereum and Polygon blockchain platforms. Votes are stored on a blockchain, eliminating voting bias and the possibility of rigging.
  • The Sportzchain platform currently has 1,200 user registrations for its alpha app and is hoping for 10,000 registrations in September.

Using ML to Track Emotions

Have you ever been asked a question in a meeting that you couldn’t answer because you weren’t paying attention? Well, a startup is on a mission to help businesses keep up user engagement levels.

Lightbulb.ai uses machine learning (ML) models to detect the emotions of participants in video conferences or when they consume content. These are shared in real time with administrators (or the meeting host) to gauge attendee engagement and interest.

Pay attention:

  • The Mumbai-based startup’s technology examines human faces and maps emotions, such as joy, anger, sadness, and levels of engagement.
  • Its basic unit of analysis is a face frame, which it captures by taking screenshots and analyzing the faces in those screenshots.
  • The startup claims its accuracy ranges from 70% to 85% across different emotions depending on factors such as image resolution and clarity, and lighting conditions.

True North’s next startup bets

Indian private equity funds, which don’t typically back startups, are actively looking for the next big bet, investing in companies that have proven market value.

True North based in Mumbai is one such private equity firm.

Founded in 1999, True North primarily invests in medium-sized India-focused companies in four sectors: healthcare, financial services, consumer and technology. So far, it has invested around $3 billion in six funds.

Write checks:

  • True North’s first startup venture, in terms of investment, was PolicyBazaar in 2017, where it invested approximately $50 million in total funding.
  • To date, he has made 61 investments in 56 companies, including Keya Foods, Fincare, ACT Fibrenet, Biocon Biologics and Manipal Hospitals.
  • The company is in the process of building a seventh investment fund, 25% of which has been allocated to investing in technology-focused, late-stage and pre-IPO startups.

(Design credit: Aditya Ranade, Team YourStory Design) =

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