Fashion ecommerce startup Voonik has merged its B2B business and technology platform with Bangladesh-based social commerce platform ShopUp, Co-founder Sujayath Ali told YourStory in a detailed response.

As part of the transaction, the entire team of Voonik will be absorbed by ShopUp, as well as co-founders Sujayath Ali and Navaneetha Krishnan will join the social commerce startup.

Founders of VoonikAdditionally, Voonik has also spun out its B2C single-brand retail business and merged it with kids’ apparel manufacturer Schoolay.

Founded by Afeef Zubaer Zaman, Siffat Sarwar, and Ataur Rahim Chowdhury, the ShopUp platform provides tools for sourcing, cataloguing, payments, shipping, and access to business loans.

As of April last year, there were over 95,000 micro-entrepreneurs on the ShopUp platform, and over 5,000 more joining every week. | To read full story, visit https://startuparound.com/read/1582111806.1221602/Fashion-ecommerce-startup-Voonik-merges-with-Bangladesh-based-ShopUp;-spins-out-B2C-business-with-Schoolay?ref=audio_experience

B2B ecommerce platform for kirana stores, MaxWholesale, has raised $3 Mn in Series A funding round led by Indian Angel Network (IAN) Fund I and Abu Dhabi-based private family office Al Falaj Investment Company (AFI).

MaxWholesale is planning to use this funding to hire talent, develop technology, accelerate growth and expand the network of kirana stores.

Founded in April 2016 by Samarth Agrawal and Rohit Narang, MaxWholesale is a medium between neighbourhood kirana stores and the wholesalers or the FMCG companies.

The B2B ecommerce platform allows kirana stores to restock the inventory for their stores.

With approximately 10 Mn kirana stores in India, these small stores have become one of the major requirements for ecommerce companies such as Amazon, Flipkart, Grofers, BigBasket and others. | To read full story, visit https://startuparound.com/read/1582110006.8267038/Digital-Wholesaler-MaxWholesale-Bags-$3-Mn-To-Expand-Kirana-Network?ref=audio_experience

Inotec AMD, a Cambridge, UK-based medtech business that has developed an innovative device to heal and treat complex chronic wounds, secured £7m in funding.

The round was led by Praetura Ventures (£2.75m) with participation from existing investor Amadeus Capital Partners, Puhua Capital, Boundary Capital and a group of high-net-worth angel investors.

Dr Andy Round, director and life sciences specialist at Praetura Ventures, will join Inotec AMD’s board in conjunction with the funding.

Led by Craig Kennedy, CEO, and and chairman Dr Adrian Patron MBE, Inotec AMD has developed Natrox, a product that uses pure humidified oxygen to treat a range of chronic wounds, from diabetic and venous ulcers to non-healing surgical wounds.

Following several clinical trials, Inotec AMD is looking to expand its foothold in the US, Asia, the Middle East and Europe. | To read full story, visit https://startuparound.com/read/1582108207.657885/Inotec-AMD-Secures-£7M-in-Funding?ref=audio_experience

Customs4trade CEO Pieter HaesaertBased in Mechelen, Belgium, Customs4trade has created a comprehensive customs and trade compliance platform.

In conjunction with the new raise, Pieter Haesaert, CEO and founder, answered some questions about the company, the needs they want to satisfy, the same funding and future plans.

I promised to myself to transform customs management from a cost center to an organisational epicenter of information, supporting growth and global expansion.

Pieter: We want to allow customs managers to take full control of their customs management.

Pieter: CAS is an end-to-end solution for customs and trade management. | To read full story, visit https://startuparound.com/read/1582106407.7405329/Customs4trade,-Interview-With-CEO-Pieter-Haesaert?ref=audio_experience

French startup Shotgun, a platform for party organisers, has raised €2 million, with support from existing investor Newfund and the British fund Venrex.

The startup will use the funds to develop its events platform to include new services, as well as expand across Europe, especially Spain, the UK and Belgium.

Shotgun, founded in 2014, aims to serve both party planners, and party goers.

On the one side, its event organisation platform allows professionals to manage every aspect of planning, including ticketing, marketing and building a community.

Established first with an electro music vibe, the platform is now beginning to open up to other styles, like rap and pop. | To read full story, visit https://startuparound.com/read/1582104606.5559592/Paris-based-Shotgun-raises-€2-million-to-grow-its-festival-and-music-event-platform?ref=audio_experience

NEW DELHI: Automobile marketplace Droom founder and CEO Sandeep Aggarwal on Wednesday said a civil settlement has been reached with the US Securities and Exchange Commission (SEC) in connection with an insider-trading case.Also, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said.

Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

The charges by DOJ have been dropped and dismissed.

The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.Aggarwal founded Droom in April 2014.

"I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. | To read full story, visit https://startuparound.com/read/1582102806.457317/Charges-by-US-Department-of-Justice-have-been-dropped:-Sandeep-Aggarwal,-founder,-Droom?ref=audio_experience

The government will soon announce measures to deal with the impact of coronavirus outbreak on the domestic industry and exports, Finance Minister Nirmala Sitharaman said on Tuesday.

She also said there were no reports of shortage of medicines or medical equipment, instead, the pharma industry was asking for the lifting of the ban on exports of certain items.

During the meeting, industry body CII requested a task force be set up to address the spillovers of the coronavirus epidemic affecting China.

"The coronavirus pandemic in China is impacting critical inputs for the Indian industry, which may adversely impact small businesses and some jobs.

A joint government-industry task force can institute risk mitigation measures on an immediate basis," the industry said. | To read full story, visit https://startuparound.com/read/1582101006.4905841/Government-to-announce-measures-to-deal-with-coronavirus-impact-on-industry:-FM?ref=audio_experience

Aggarwal added that that the DOJ has dropped all the charges which means that the case has been completely dismissed.

Now, we can put this permanently behind us.”What Was The FBI’s Case Against Sandeep Aggarwal?

Due to the fallout from the case, Aggarwal had to quit as Shopclues CEO by October 2013 and become a consultant for the company.

Life After Shopclues and Droom IPO PlansPost Shopclues, Sandeep Aggarwal founded Droom in 2014.

Aggarwal told Inc42 recently that he is optimistic about turning around the losses given the growth opportunity. | To read full story, visit https://startuparound.com/read/1582099309.321745/Breaking:-US-Dept-Of-Justice-Drops-Insider-Trading-Charges-Against-Sandeep-Aggarwal?ref=audio_experience

Today OTB Ventures, a leading venture capital fund specialised in investments in technology companies in Central and Eastern Europe (CEE), announces the launch of its early growth technology fund, with €92.4 million in commitments.

This fund is the largest venture capital fund in CEE and was backed by international institutional investors, including the European Investment Fund (EIF), and high-profile backers including Greg Jankilevitch.

It focuses on startups with unique IP and disruptive ideas in every technology domain, with strong regional footprint across Central and Eastern Europe.

Adam Niewiński, Managing Partner and co-founder at OTB Ventures, said: “We are grateful for this backing from new and existing investors who share our vision to develop the start-up ecosystem in Central and Eastern Europe.

Central and Eastern Europe is a cradle of talented engineers and IT specialists, pioneering innovative companies. | To read full story, visit https://startuparound.com/read/1582097407.200574/OTB-Ventures-launches-€92.4-million-fund-to-invest-in-Central-and-Eastern-European-tech-startups?ref=audio_experience

Bengaluru-based hyperlocal services provider Dunzo has raised $11 Mn in a debt funding round from Alteria Capital.

With this funding round, Dunzo is looking to scale up its operations in profitable locations.

Founded by Dalvir Suri, Mukund Jha, Biswas, and Ankur Aggarwal in 2015, Dunzo provides hyperlocal delivery services.

Prior to this funding round, Dunzo has closed its $45 Mn Series D funding round after months of speculations and ministerial filings in October last year.

Lightbox Ventures, Google, 3L Capital, and STIC Investment had joined the funding round. | To read full story, visit https://startuparound.com/read/1582095609.5981724/Dunzo-Bags-$11-Mn-Funding-From-Alteria-Capital-To-Scale-Operations?ref=audio_experience