OYO To Launch 13 Self-Operated Hotels Under Premium Brand ‘Palette’ This Year

"SUMMARY Using a format akin to OYO Rooms, the business plans to open Gujarat's Morbi as the first independently run location under the ""Palette"" brand. Last year, Oravel Stays introduced ten hotels under the Palette brand as part of a test program in cities like Mumbai, Hyderabad, and Jaipur. OYO CEO Ritesh Aggarwal said last month that the company has doubled its PAT to INR 30 Cr in Q3 FY24, marking the second consecutive profitable quarter for the firm. By the end of this year, parent company Oravel Stays, a prominent player in the hospitality industry, plans to launch 13 independently run hotels under the upscale ""Palette"" brand. The business said in a statement on Thursday (March 7) that it will launch the concept by building a Palette hotel in Morbi, Gujarat, replicating an OYO Rooms model.  By the end of this year, Oravel Stays, the parent company of Oyo, a significant player in the hospitality industry, wants to open 13 upscale hotels under the Palette brand. The business established ten Palette resorts in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bengaluru as part of a pilot program last year. With this, there will be 23 hotels operating under the Palette brand overall. Similar to Oyo's hotels, the Palette hotels will run on a ""self-operated"" model. As a result, the corporation won't need to invest much capital in this move. This will be the company's reintroduction of its self-operated concept, which it abandoned in 2020. The company added that it will assume direct operational control of a few Palette hotels in high-growth and potential regions in order to guarantee improved guest experience and service delivery. Morbi, dubbed the city of ceramics in India, is a major economic center in Gujarat, according to Oravel Stays. Ninety percent of India's tile output is produced in the district, which is home to around 800 tile factories with an annual revenue of roughly Rs 50,000 crore. We can't wait to open our first independently run Palette hotel in Gujarat, and Morbi is the ideal place to do it. Morbi is a significant market for us because of its thriving economy and expanding commercial prospects, according to Aditya Sharma, commercial Head, Oravel Stays."

Accenture to acquire edtech Udacity to accelerate capabilities of Accenture LearnVantage

"Accenture, a technology corporation, recently revealed that it will invest $1 billion over the course of the following three years in Accenture LearnVantage, a new initiative. The goal of the development is to meet the pressing demand for data, AI, and technological capabilities across businesses. The company plans to acquire Udacity, an educational platform, in order to improve its capacity to provide customized, industry-specific training on a large scale.Reducing the skills gap with individualized education LearnVantage is intended to assist businesses in promptly recognizing and closing the skills gap caused by the swift growth of technology. The platform offers a variety of tailored learning experiences and serves a broad clientele, including company executives and board members who want to learn about generative AI and IT workers who require specific training in AI, data science, cloud, and cybersecurity. The tactical purchase of Udacity Accenture made a calculated strategic move when it acquired Udacity, an edtech platform with its headquarters in California that is well-known for its certified job-ready skills. With Udacity's experience with scalable learning technologies, professional services, and exclusive content, the agreement is anticipated to greatly enhance Accenture's learning and training offerings. Accenture will benefit from the addition of over 230 Udacity professionals, expanding its talent pool and capabilities. Putting money into labor forces. Accenture has always been committed to upskilling; the company provides about 40 million training hours annually and spends more than $1 billion on learning and training for its employees. Accenture hopes to further this commitment to its clients by assisting them in becoming independent ""talent creators"" through LearnVantage. It is anticipated that the development will enable clients to fully utilize the opportunities presented by technological transformation, spurring creativity and corporate expansion. Establishing a cooperative learning environment Accenture LearnVantage is going to work with top technology ecosystem partners like Microsoft, Google Cloud, and Amazon Web Services to deliver industry-relevant technology training along with state-of-the-art generative AI material. Additionally, the platform will provide certification services and nanodegrees, guaranteeing that students obtain practical experience and acquire abilities that are immediately useful in the field. "

CHEFLING secures Rs 40 lakh from Shark Tank India judges

"An inventive business called CHEFLING is changing the Indian food scene in the busy alleyways of Mumbai. CHEFLING, a company founded by Rounit Gambhir, is on a mission to introduce international cuisines into Indian homes' kitchens with its distinctive Do-It-Yourself (DIY) cooking kits. These kits are made to make cooking world cuisine easier, enabling everyone to enjoy and participate in gourmet cooking. The founder of CHEFLING, Rounit Gambhir, has a background deeply ingrained in the textile sector. But the collapse of his family's textile business in 2019 gave him the motivation to forge his own route. In 2020, Rounit launched CHEFLING after realizing the potential of DIY meal kits in the Indian market and being inspired by the idea. His vision was driven by his desire to find a simple, affordable, and sustainable answer to the difficulties he had in obtaining foreign goods and recipes. How Does Chewing Operate? CHEFLING uses a straightforward but efficient model. It sells homemade cooking kits that come with everything needed to make a certain cuisine. These kits cover a wide range of different cuisines, such as Mexican (Chalada and Taco), Italian (Lasagna), and Japanese (Sushi and Mochi). To make cooking easy, each kit includes a comprehensive recipe and, occasionally, a QR code that takes users to a video demonstration and enjoyable. The signature item of CHEFLING is their sushi kit, which is well regarded for both its convenience and high quality. The kits are reasonably priced and come in several sizes to suit the needs of singles, couples, and groups. Rounit says that although while the kits seem expensive, they are actually rather affordable when you compare the amount and caliber of sushi they can make to restaurant costs. CHEFLING expansion CHEFLING has reported remarkable sales figures since its founding; Rounit disclosed a total sales amount of more than Rs 60 lakh in a span of three years. Additionally, the firm has added new kits to its catalog, broadening its selection of products and target market. India's DIY food kit market is expected to grow rapidly, potentially reaching an estimated value of Rs 8000 crore by 2025.  Rounit hopes to gain a sizable portion of this market with CHEFLING. His goals are to showcase Indian cuisine to the globe and to make exotic cuisines available in every Indian home. His goals go beyond the available products; he intends to create a do-it-yourself bar kit and investigate other culinary advancements. Pitch to Shark Tank India A gourmet startup called CHEFLING sought Rs 40 lakhs for 10% equity in a compelling episode of Shark Tank India Season 3, valuing the company at Rs 4 crore. The pitch set off a bidding war that resulted in two primary offers: a combined offer of Rs 40 lakh for 25% stock from four investors, and an offer of Rs 40 lakh for 20% equity from Namita, Azhar, and Piyush. "

Shaadi.coms Anupam Mittal pleads with FM Sitharaman to ease KYC paperwork.

"Anupam Mittal, the creator of Shaadi.com, requested the Finance Ministry's help in streamlining the know-your-customer (KYC) documentation process for startups and angel investors, citing his concerns about the drawn-out and tiresome procedure. The Shark Tank India judge emphasized the importance of enacting laws that create an atmosphere that is favorable for Indian companies in his most recent article on X. The Income Tax Department responded to Anupam Mittal's post on X by asking him to send a letter containing a specific concern or question to the department so that the relevant personnel might ""get in touch"" with him. Even as we speak of being a startup nation, we require policymaking that is progressive. Every year, instead of concentrating on creating amazing businesses, the team spends an excessive amount of time providing KYC information to startups, who then work with several angel investors to get the paperwork submitted with @IncomeTaxIndia. ""Why is this harassment happening?,"" Anupam Mittal posted on X, tagging Finance Minister Nirmala Sitharaman and the Income Tax Department. Additionally, Mittal emphasized that extensive documentation is not necessary because the Income Tax department already has all the information on the majority of registered investors. Mittal commented, ""Madamji dekhiye pls, it's an unnecessary waste of time that sucks up countless unproductive hours of our time,"" tagging Finance Minister Nirmala Sitharaman's official X accounts. brightest in the nation at @PMOIndia. "Please write to us with your specific issue/query (along with PAN & your mobile number) via email at orm@cpc.incometax.gov.in so that our team can get in touch with you,"" the IT department said in response to the founder of Shaadi.com's post. Fintech and startups facing KYC issues In response to the I-T department's statement, Mittal stated that his primary concern was the cumbersome process of completing KYC documentation with the I-T department, without highlighting a single problem. The founder of Shaadi.com made these remarks about onerous KYC paperwork at a time when Paytm Payments Bank is being investigated by the Reserve Bank of India for a number of reasons, including complaints about procedural errors in its KYC system. Recently, Nirmala Sitharaman chaired a meeting with start-up and fintech ecosystem organizations to address the digitization and simplification of KYC across all fintech segments. The cost of lending for important locations, ownership and control changes for fintech companies that are listed to help them comply with regulations, and cybercrime concerns were among the other topics covered in the conference."

Shadowfax raises $100 million Series E round led by TPG New Quest

"Mumbai: Shadowfax, a modern logistics services provider, announced on Tuesday that it has raised $100 million for its Series E round, which is being led by TPG NewQuest, through a combination of primary and secondary funding. Those with knowledge of the situation claimed the deal values the nine-year-old company at $500-550 million, though specifics of the valuation were not made public.According to a press statement from Shadowfax, the round also included participation from current investors Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital. The news of NewQuest's interest in the business was initially reported by Mint. To date, the company has raised close to $120 million from investors, including Flipkart, Qualcomm Ventures, Eight Roads Ventures, and US investment firm NGP Capital. Eight Roads Ventures, an early investor in the business that has supported it since its Series A in 2015, made a partial exit through this round, according to ShadowFax. In an interview with Mint, cofounder and CEO of Shadowfax Abhishek Bansal stated that the company has been growing profitably over the last four quarters, with an annualized revenue run rate of ₹2,400 crore for FY24. By March 31, 2024, it hopes to have closed its first year with a positive Ebitda. Bansal stated, ""We will be actively looking for more inorganic opportunities, given that we are already profitable."" The company also intends to list on Indian bourses over the next 24 months. Shadowfax intends to use the additional funding over the course of the next 18 months to expand last-mile delivery over all 20,000 Indian pin codes and increase its middle-mile network.  A portion of the money generated will be put toward expanding Shadowfax's express delivery network and creating services for direct-to-consumer (D2C) brands. Due to the rapid growth of trade in the nation, logistics companies now need to operate quickly. We intend to enhance our technology capabilities and develop middle-mile delivery in order to establish ourselves as a fully-fledged courier within the 3PL space,"" Bansal said. The company, which was founded in 2015 by Bansal, Vaibhav Khandelwal, Gaurav Jaithliya, and Praharsh Chandra, provides services to online-first brands that range from pharmacy and food delivery services to larger e-commerce logistics. 30-minute deliveries are available for speedy commerce. ""Shadowfax is transforming India's e-commerce logistics industry. Their developed technology stack has impressed us. According to Amit Gupta, partner and head of TPG NewQuest's India and Southeast Asia, ""this helps with the delivery of superior service metrics and allows them to quickly adapt their services to client's changing needs at the lowest price."" "

Canara HSBC Life Insurance launches iSelect Guaranteed Future Plus digital campaign

"As part of their most recent digital promotion, Canara HSBC Life Insurance has released three distinct films on their own social media channels, each of which highlights a key element of their most recent digital product, ""iSelect Guaranteed Future Plus."" The non-linked non-participating individual savings life insurance plan, created to meet a range of financial needs, guarantees a stable future for loved ones, and the campaign presents poignant tales via various life circumstances. Essential life insurance and guaranteed benefits are provided by iSelect Guaranteed Future Plus to safeguard customers' financial security throughout their entire lives. The program is made to adjust to your evolving milestones, so it will make sure your financial objectives are met on schedule. It offers peace of mind with customized alternatives that offer essential coverage and assured advantages, like as returns on your investment. The future is safe whether you go for stability, daily expense coverage with a complete premium refund, or quick cash assistance. The plan is designed to meet policyholders' financial goals and milestones, reflecting Canara HSBC Life Insurance's commitment to ensuring their customers' financial well-being throughout life's many stages. ""Through our new digital campaign, We aim to portray various life scenarios, illustrating the importance of building a financial plan to fulfil one's bigger promises and aspirations,"" says Canara HSBC Life Insurance Chief Strategy Officer and Distribution Officer Rishi Mathur. Our newest, top-notch product, iSelect Guaranteed Future Plus, offers excellent guaranteed returns and a thoughtful financial tool that ensures income and returns while preserving our clients' financial security. The most important takeaway from this is that you need a plan to assist you get ready to fulfill the larger promises made keeping your word to your loved ones and overcoming obstacles in life. ""As part of their most recent digital promotion, Canara HSBC Life Insurance has released three distinct films on their own social media channels, each of which highlights a key element of their most recent digital product, ""iSelect Guaranteed Future Plus."" The non-linked non-participating individual savings life insurance plan, created to meet a range of financial needs, guarantees a stable future for loved ones, and the campaign presents poignant tales via various life circumstances. Essential life insurance and guaranteed benefits are provided by iSelect Guaranteed Future Plus to safeguard customers' financial security throughout their entire lives. The program is made to adjust to your evolving milestones, so it will make sure your financial objectives are met on schedule. It offers peace of mind with customized alternatives that offer essential coverage and assured advantages, like as returns on your investment. The future is safe whether you go for stability, daily expense coverage with a complete premium refund, or quick cash assistance. The plan is designed to meet policyholders' financial goals and milestones, reflecting Canara HSBC Life Insurance's commitment to ensuring their customers' financial well-being throughout life's many stages. "Through our new digital campaign, We aim to portray various life scenarios, illustrating the importance of building a financial plan to fulfil one's bigger promises and aspirations,"" says Canara HSBC Life Insurance Chief Strategy Officer and Distribution Officer Rishi Mathur. Our newest, top-notch product, iSelect Guaranteed Future Plus, offers excellent guaranteed returns and a thoughtful financial tool that ensures income and returns while preserving our clients' financial security. The most important takeaway from this is that you need a plan to assist you get ready to fulfill the larger promises made keeping your word to your loved ones and overcoming obstacles in life. "  

India Receives Its Second Space Port, Excitement for Rocket Startups

Today, Prime Minister Narendra Modi will lay the foundation stone for India's second launch site, Kulasekharapatnam, which is situated in the Thoothukudi district of Tamil Nadu. This will significantly advance the nation's spacefaring endeavors. The new launch pad has the small rocket community in India, including ISRO and startups, giddy with anticipation for more efficient small rocket launches.Up until now, all rockets used to launch satellites into orbit were launched from the nation's single spaceport, which was located in Sriharikota, Andhra Pradesh. To date, India has launched 95 rockets from Sriharikota, 80 of which have been declared successful. Renamed the Satish Dhawan Space Center, it began modestly in 1971 with the launch of a sounding rocket, the RH-125. The center is currently getting ready for India's human spaceflight project, Gaganyaan, to launch. Satish Dhawan Space Center has a distinct advantage—it is one of the world's southernmost rocket ports—but it also has a major disadvantage. The land mass of Sri Lanka presents a safety concern for rockets launching in polar or southerly directions because it keeps rocket debris from landing on foreign soil.In order to lessen this, ISRO has traditionally carried out a unique manoeuvre referred to as the "dogleg maneuver" in order to avoid Sri Lanka when conducting direct southward launches. Although there is a penalty for this maneuver, it can be tolerated for larger rockets with sufficient fuel, such as PSLV, GSLV, and LVM-3. But the advantages of using Sriharikota as the preferred launch site become clear as India gains proficiency in the launch of smaller rockets, such as the Small Satellite Launch Vehicle (SSLV), which can carry satellites weighing up to 500 kilograms. According to an ISRO rocket specialist, it becomes almost impossible to launch small rockets from Sriharikota in polar or southern trajectories with payloads weighing between 500 and 700 kg. As a result, Kulasekharapatnam has been chosen as the second launch site to address these issues because of its expanding small rocket market.  

Germanys Foundamental and Other Investors Provide Funding for Fashinza Cofounders Proptech Startup Marrfa

"SYNOPSIS: According to Jamil Ahmad, the funds will be utilized for tech innovation, hiring talent from other regions, and expansion throughout the UAE, Singapore, and Europe. Marrfa is a managed real estate marketplace with a comprehensive stack that seeks to democratize global access to high-yield investment possibilities. After serving in that capacity for almost four years, Ahmad resigned as chief business officer of B2B marketplace Fashinza in January of this year. Berlin-based VC company Foundamental led a pre-seed round that saw the undisclosed amount of investment raised by co-founder Jamil Ahmad of Fashinza's proptech startup, Marrfa. Angel investor Prashant Malik, general partner of US-based Tykhe Block Ventures, took part in the round as well. Working capital funding totaling $30 million has been obtained by Fashinza from Mars Growth Capital and Liquidity Group. By automating the whole debt lending cycle, Liquidity Group, a trailblazing technology company, has become the fastest-growing lender to mid-market and late-stage companies internationally. The money will support Fashinza's further development into an international company with major operations in the USA, the Gulf, and Europe. Fashion is always changing, but never more so as it is right now in the era of Instagram and Tiktok, which rapidly affect global fashion choices. Fashion brands need to have extremely effective supply chain management and be very nimble in order to stay ahead of the curve. If they continue to depend just on big manufacturers as they did in the past, this is not feasible. Fashinza offers a creative solution to this issue by putting SMEs in direct contact with leading global fashion brands. Through the development of an online marketplace that facilitates seamless connections between customers and sellers, Fashinza is transforming the fashion industry in the rapidly evolving digital era. ""The global fashion supply chain is changing because to Fashioninza. We were sufficiently confident in their ability to scale this business and sustain in the medium- to long-term based on their performance since inception, the strength of their founding team, and their current global network of manufacturers and customers ""said Navas Ebin, MD of APAC for Mars Growth Capital and Liquidity Group. The money will be used by Fashinza to cover its expanding needs for working capital on a global scale. ""Our capital is non-asset based and will hence support Fashinza to grow their business internationally in the most capital-efficient manner,"" stated Navas Ebin. ""Fashinza is a pre-unicorn with great potential and ambitions for the world. ""Investment Manager Nir Shmueli of Mars Growth Capital and Liquidity Group stated, 'The prospects for a long-term partnership with the company are exciting. We have been helping companies like Fashinza transition into becoming truly global businesses."" "

In light of Paytm and Byjus worries, a government committee is expected to finalize the startup regulatory framework in two months.

According to officials in the Ministry of Finance, the Ministry of Corporate Affairs is taking a close look at big, unlisted companies in the wake of recent regulatory issues at Byju's, Paytm Payments Bank, and BharatPe.To create a regulatory framework for large unlisted startups, the government-appointed Company Law Committee met last month and is set to meet again soon.This program supports the government's objective of encouraging startup expansion in the face of corporate governance and regulatory obstacles that large companies such as Byju's and Paytm Payments Bank must overcome.Supervising businesses not directly under the purview of the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) is the aim of this regulatory framework."We are speeding up the report and conducting an ongoing inspection against Byju's." If the Reserve Bank of India contacts us about Paytm Payments Bank, we would look into it," the official said.According to the insider, BharatPe recently received a new notification from the Delhi Police's Economic Offenses wing requesting further information on the findings in a status report.According to sources, the committee is also evaluating standards and guidelines for board directors and investors in order to improve control without placing an excessive regulatory burden on them.The Committee, which is led by the corporate affairs secretary, is made up of specialists, government representatives, and members of the business community. Its main goal is to make conducting business easier while ensuring that the Companies Act of 2013 and the Limited Liability Partnership (LLP) Act of 2008 are implemented effectively.A private company incorporated under company law and recognized as such by notification from the Department for Promotion of Industry and Internal Trade (DPIIT) is considered a startup.In the midst of the Paytm Payments Bank Ltd. crisis, Institute of Chartered Accountants of India President Ranjeet Kumar Agarwal announced on Sunday that the fintech company's problems may be discussed by the financial reporting review board (FRRB) soon. The tech-based education unicorn Byju's accounts are presently being reviewed by the statutory body's FRRB due to purported governance concerns, and the process is going smoothly, according to the president of ICAI."We haven't thought about the PayPal issue up to this point, but the FRRB board meeting is coming up, and when it does, it will discuss taking necessary action. In regards to this topic, we haven't made any decisions thus far," ICAI President Ranjeet Kumar Agarwal stated to PTI in an interview.According to him, newly elected ICAI committees, such as FRRB, are anticipated to convene in March. Remarkably, because of purported regulatory concerns, the Reserve Bank of India, which oversees the banking industry, has already placed limits on Paytm Payments Bank Ltd.According to him, the FRRB will decide whether further examination of the books is required in light of the claims of regulatory violations and how they affected the payment bank's accounting. "The board has the authority to decide who gets reviewed and when. Its system is strong," declared the recently elected head of ICAI. When asked if the ICAI was anticipating a complaint about Paytm, Agarwal responded, "The institute has the authority to take action both through complaints and suo motu." It was suo motu in the instance of Byju."Speaking on behalf of Byju, he stated that "the report is expected by the end of this year" and that the board's scrutiny process is "going well." "The board has a three-tier structure—technical, group, and finally the board review," the ICAI chief stated while describing the FRRB organization. He asserts that the FRRB has the authority to examine the financial statements of publicly traded corporations.

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Shark Tank judges gave Rs 2 Cr to ReFit Global, a D2C reconditioned marketplace.

ReFit Global is a direct-to-consumer (D2C) marketplace for refurbished items. Anupam Mittal, Vineeta Singh, and Amit Jain are among the Shark Tank judges who have donated Rs 2 crore at a valuation of Rs 200 crore.The funds raised will be used to improve operations, broaden the company's market reach, and fortify its technological foundation. ReFit Global also hopes to enhance its web presence and client satisfaction.Saket Saurav and Avneet Singh launched ReFit Global, which runs a network of over 50,000 stores in nearly 100 locations. The startup intends to become a profitable enterprise worth at Rs 1,000 crore within the next five years."Building a strong alliance with a broad collection of skilled sharks, each offering their own ideas and knowledge, was our main goal. The goal of this opportunity is to provide ReFit a more distinct vision and market positioning, according to ReFit Global CEO and founder Saket Saurav.Saket Saurav and Avneet Singh launched ReFit Global. On Shark Tank India Season 3, the direct-to-consumer (D2C) refurbished marketplace ReFit Global raised Rs 2 crore at a valuation of Rs 200 crore.three days beforehandReFit Global, a well-known direct-to-consumer (D2C) marketplace for refurbished goods, has secured $2 million at a valuation of $200 million from renowned Shark Tank judges, such as Amit Jain, Vineeta Singh, and Anupam Mittal.The organization intends to carefully allocate capital to enhance its technology infrastructure, broaden its market reach, and expedite operational expansion. To further consolidate its place in the market, ReFit Global also hopes to improve client satisfaction and its online presence. ReFit Global, which was co-founded by Saket Saurav and Avneet Singh, has a strong network of more than 50,000 shops in about 100 locations. Within the next five years, the firm is determined to reach a significant milestone: becoming a profitable entity valued at Rs 1,000 crore.ReFit Global's founder and CEO, Saket Saurav, stressed the strategic importance of forging a vibrant alliance with a varied collection of skilled sharks, each of whom brings a special set of views and knowledge. He eagerly took advantage of this chance to improve ReFit's positioning in the industry and sharpen its vision.ReFit Global, a bootstrapped company, takes great pleasure in its extraordinary growth trajectory, having secured Rs 200 crore in FY23 and achieved an amazing 100x year-over-year growth.ReFit Global has reached a major milestone with the successful investment in Shark Tank Season 3, setting the company up for future growth and success in the competitive reconditioned market.One of the leading companies in the Direct-to-Consumer (D2C) refurbished sector is ReFit Global. By obtaining Rs 2 Crore in finance at an astounding valuation of INR 200 Crore, it accomplished a noteworthy milestone. This achievement was made possible by the sharks on the panel during their riveting Shark Tank India Season 3 pitch, where they acknowledged the potential of ReFit's business plan.

Agri-produce startup Indic Wisdom raises Rs 4 Cr in pre-Series A round

"Inflection Point Ventures is leading a pre-Series A investment round for the agri-produce firm Indic Wisdom, which has garnered Rs 4 crore. High-net-worth individuals Mahendra Sankhe, Launch Capital, Bifco Finance, and others took part in the round as well. In order to increase its market presence and operational efficiency, the company intends to use the cash to develop manufacturing capacity, improve the brand's visibility, and extend its distribution network. Additional news: Instagram expands its creative marketplace to eight new countries, including India Instagram, which is owned by Meta, announced plans to expand its creative marketplace into eight new countries, including India. The firm released a statement saying, ""Australia, New Zealand, the UK, Japan, India, and Brazil to join Instagram's creator marketplace " Price reduction of Rs 24,000 for Bounce Infinity's electric scooters announced Bounce, an electric mobility company, is lowering the cost of its Infinity scooter. The Bounce Infinity E-Scooters will now be offered to consumers at a new, lower price of Rs 89,999 ex-showroom, with immediate effect. This represents a significant savings of Rs 24,000 over the initial ex-showroom pricing of Rs 1,13,000, the firm said in a statement. In India, Ace Turtle opens a Dockers store. Ace Turtle, a retail technology company, has introduced the lifestyle apparel brand Dockers to the Indian market. The first store will open in Delhi, and early next week, a dedicated e-commerce website will be built to facilitate online purchasing throughout India. Dockers offers a large selection of clothing for both men and women in khaki. Nothing has named Ranveer Singh as its new brand ambassador. Nothing has named Ranveer Singh as its new brand ambassador. Bollywood actor Ranveer Singh has been appointed as the new brand ambassador for London-based software company Nothing. He will appear in subsequent advertisements for the firm and serve as the face of Nothing devices. The actor will appear in TVC, print, and digital advertisements for Nothing phones, the business announced. Finalists for ArcelorMittal's accelerator program are chosen. "

Zee creates an advisory council in the midst of "market rumors" to protect investor confidence.

To protect the interests of its shareholders, Zee Entertainment Enterprises established a three-person independent advisory group.The committee is led by Dr. Satish Chandra, a former Allahabad High Court judge, and consists of two independent directors.This development has occurred in response to reports of corporate governance violations at the corporation and the ensuing investigations by pertinent agencies. An "accounting hole" of Rs 2,000 crore was mentioned in media reports earlier this week about the company's financials.According to a ZEE representative, the goal of the action is to stop the "widespread circulation of misinformation, market rumors, and speculation. "The business has categorically denied the allegations, claiming that the reports in question are "incorrect and false."The reports also reveal a third party's vested interests. ZEE is a company led by an experienced Board and has upheld the highest standards of governance. The spokeswoman stated, "The Company has continuously extended complete cooperation to all concerned authorities and has transparently provided all requested information."According to the business, it has also asked SEBI to investigate "market rumors that lead to misinformation and consequently erosion of investor wealth."

Neem Summit & Global Neem Trade Fair Promoting Sustainable Solutions

"On February 19–20, 2024, in New Delhi, the Neem Summit & Global Neem Trade Fair was held in association with ICAR—Central On February 19–20, 2024, in New Delhi, the Neem Summit & Global Neem Trade Fair was held in association with ICAR—Central Agroforestry Research Institute, Jhansi. A collaborative endeavor between ICAR-Central Agroforestry Research Institute, Jhansi, and numerous stakeholders is the Neem Summit & Global Neem Trade Fair, scheduled for February 19–20, 2024, in New Delhi. The purpose of the event is to highlight the many applications of neem in environmental sustainability, healthcare, and agriculture. Highlights of the Trade Fair and Inauguration The Trade Fair was opened by Dr. Himanshu Pathak, DG of ICAR and Secretary of DARE. 22 international and Indian businesses took part, showcasing their neem-based goods. There were about 250 attendees, ten of them were from abroad. Seminar Subject ""Neem for Sustainable Agriculture, Health, and Environment"" is the main focus. The potential of neem to meet the needs of the industry for raw materials and its part in carbon farming are highlighted. Highlights of the Program Features Seven technical sessions addressing different facets of neem development and research. The industrial and sociocultural uses of neem are among the areas of discussion. Publications and Documentary ""Neem Field Gene Bank - Provisioning Opportunities for Conservation and Utilization"" Technical Bulletin, WNO Calendar, and Souvenir publications. The WNO Documentary was released with the goal of raising awareness of the importance and uses of neem."

Byju’s sees full subscription for Rs 1,658 crore rights issue amid valuation cut

"Last month, the Bengaluru-based firm declared its plan to earn more than Rs 1,658 crore through a rights offering. According to reports, a group of investors is lobbying for the removal of Raveendran, his brother Riju Ravindran, and his wife Divya Gokulnath from the edtech. In summary, certain important investors like Prosus and Peak XV have not yet joined. Their ownership interest in Byju's proposals to reform the board and hire a third-party agency to monitor fundraising could be reduced if they choose not to participate. Byju's announced that all of the subscription for their Rs 1658 crore ($200 million) rights issuance had been received. Nevertheless, TechCrunch noted that this accomplishment coincided with a disagreement between the The Bengaluru-based business revealed last month that it intended to earn about $200 million through a rights issue. The company was valued at $22 billion in its previous financing round in early 2022. The company's founder and CEO, Byju Raveendran, thanked the participating shareholders and emphasized the significance of increased shareholder involvement. ""We have a fully subscribed rights issue, and I am still incredibly grateful to our shareholders. "However, the involvement of every shareholder in the rights issue is how I measure success,"" founder and CEO Byju Raveendran stated in a letter to shareholders that TechCrunch was able to read. Founder requests widespread involvement from shareholders He went on to discuss the teamwork that went into creating the business and encouraged every stakeholder to participate in the rights issue in order to improve the company's prospects going forward. Together, we have established this organization, and I want everyone to be a part of this new mission. Our journey began with your initial investment, and this rights issue will help protect and increase value for all shareholders,"" stated Raveendran . Byju's lowered the pre-money valuation requested in the rights sale from $25 million to roughly $20 million, as TechCrunch previously revealed. According to sources cited in the paper, despite the subscription success, a group of investors, including Prosus and Peak XV, have not yet indicated interest in taking part in the rights offer. Their stock share in Byju's could be significantly reduced as a result of their lack of participation."

Govt working on AI regulation framework, will be released by July 2024, says IT Minister Rajeev Chandrasekhar

"In short, by mid-2024, the government will have AI regulatory frameworks in place. AI will be used to improve farmer productivity, healthcare, agriculture, and the economy. The first draft of the long-awaited AI regulatory framework is anticipated in a few months. According to the state minister for electronics and information technology, the government is developing frameworks for regulations pertaining to AI, and they should be released in June or July of this year. According to Chandrasekhar, the Indian government intends to employ AI to achieve its objectives for economic growth. ""We plan to fully utilize AI to accomplish our economic growth objectives, guaranteeing a significant influence on healthcare, agriculture, and farmer productivity, among other areas,"" he stated in a post on X. This was stated by Chandrasekhar at the Mumbai Tech week. The government has been delaying the release of a framework for AI regulations for a long time. The IT Minister had stated plans to release the framework's initial draft as early as May 2023. But the same hasn't been made available yet. We should be able to view the initial draft of it within the next few months, according to Chandrasekhar's most recent remark. The Union Minister has stated multiple times how important and necessary the framework is, notwithstanding the delay. ""Amidst all the excitement about AI's potential to ""do more with less,"" there is also a rising conversation about its risks and drawbacks. Today's discussion centers on how to maximize AI's potential while minimizing its drawbacks mitigated?"" Chandrasekhar asked in a piece that appeared in India Today. ""A global governance framework that deals with safety and trust of AI is important, given the ubiquitous and boundary-agnostic nature of the Internet and AI,"" he continued. In the past, Chandrasekhar has also given a preview of what to anticipate from the AI framework. India's strategy entails formulating guidelines as well as an exhaustive inventory of AI-related injuries and crimes. India favors establishing explicit standards for platforms with an emphasis on addressing concerns like prejudice and misuse throughout model training, as opposed to regulating AI at particular stages of its development. The suggested approach entails outlining forbidden behaviors and enforcing penalties for noncompliance,"" he stated. "

Push Sports bags funding from Vineeta Singh, Peyush Bansal on Shark Tank India

"On Shark Tank India, portstech startup Push Sports raised Rs 80 lakh at 4% equity. Vineeta Singh, CEO of SUGAR Cosmetics, and Peyush Bansal, co-founder of LensKart, spearheaded the investment. Puru Singh, co-founder and CEO of Push Sports, stated, ""We are committed to making structured sports education accessible, engaging, and in line with the future of learning and parenting."" QuiD completes a pre-seed investment round, raising Rs 5 Cr. In a pre-seed fundraising round, QuiD, a business-to-business (B2B) fintech supply chain startup, raised Rs 5 crore from organizations like Mint Cap Enterprises and Stone Park Capital. The money raised will mostly be used to expand and improve tech capabilities, as well as to increase interaction with partner lenders and present clients. In a statement, QuiD co-founder Subhash Gupta stated, ""The goal is to use technology, data science, and blockchain to help anchor and retailer community get better access to credit at invoice level."Pre-seed fundraising round of $400,000 is raised by Kanlet, an AI sales-driven platform. In a pre-series investment round headed by Suvan Ventures, Kanlet has raised $400,000. The company released a statement stating that the money will be utilized for talent acquisition, sales and marketing, and product development. The founder of Kanlet, Satish Patil, stated, ""We believe that relationships, intent, personalization, and automation at scale will be a regular part of how companies go to market in two years, and we want to enable this outcome."" Crib boosts the housing industry by investing $1 million in Crib Plus. The proptech company Crib is set to invest approximately $1 million towards the creation of Crib Plus, an upgraded software designed to meet the demands of major co-living and student housing brands. As of right now, Crib serves over 1,000 landlords, according to a statement from the business. The enterprise customer that oversees more than 1,000 tenants has higher expectations from their property management tool, which includes Personalized Customizations & Integrations, Detailed Financial Reporting, Business Analytics, and sophisticated workflows like Asset Management, Visitor/Parcel Management, and Expense Management. To meet these needs, we are developing Crib Plus,"" co-founder and CPO of Crib Shaifali Jain stated. "  

After the failed Zee merger, what will happen to Sony? The CEO of the company discloses its India strategy.

"Overview ""India has significant long-term growth potential. This market has a lot of appeal. Consequently, in response to a question concerning the company's plans in India following the cancellation of the proposed merger, Totoki stated, ""We will attempt to seek various opportunities and see if we can find another opportunity that would replace this type of plan."" According to a senior business official, Sony will explore a number of possibilities now that the planned merger of its Indian branch with Zee has been canceled. These would include looking for an alternative plan and exploring organic development chances in India, which has enormous long-term potential. Hiroki Totoki, president, COO, and CFO of Sony, stated during an earnings call that the company will keep making investments in India since it is a very good market. ""India has significant long-term growth potential. This market has a lot of appeal. Consequently, in response to a question concerning the company's plans in India following the cancellation of the proposed merger, Totoki stated, ""We will attempt to seek various opportunities and see if we can find another opportunity that would replace this type of plan."" He commented, ""Well, that investment is not going to change a capital allocation or our behavior in our investment,"" in reference to the investment Sony had made as part of the agreement. Thus, we don't yet have any firm plans."" February 14 was the day of the earnings call. According to the terms of the merger that ZEEL and Sony agreed upon, Additionally, the Japanese behemoth was expected to contribute USD 1.5 billion to the combined company. He stated in the investor call that the company will keep pursuing organic development in line with its plan in India, where it conducts business through Culver Max Entertainment (formerly known as Sony Pictures Network India). The arrangement between Sony and ZEEL to combine its two Indian companies, Culver Max Entertainment and Bangla Entertainment Private Limited (BEPL), was terminated last month. Sony Group Corporation (SGC) claimed that ZEEL had not complied with the merger requirements and had filed for arbitration before SIAC, requesting a termination cost of USD 90 million (about Rs 748.5 crore). In a petition to the National Company Law Tribunal (NCLT), ZEEL requested that Sony Group be directed to...Over 700 million people watch the 26 channels that Sony Pictures Network India (SPNI), an indirect wholly-owned subsidiary of Sony Group Corporation, Japan, owns and operates in Hindi and numerous other languages. In addition, it offers live sports, movies, short films, as well as its own original and archived material, on its single OTT platform, Sony LIV. There are about 33 million people who watch it."  

Sukoon Health starts offering cashless insurance for inpatient care

A program to offer cashless insurance coverage for people requiring inpatient psychiatric care has been announced by ukoon Health. In order to receive cashless insurance benefits at Sukoon, patients must stay in the hospital for a minimum of 24 hours. This is the amount of time that is needed in order to file an insurance claim under the mental health coverage.  Certain treatments are not covered and are not eligible for cashless insurance benefits. Examples of these treatments include talk therapy, alcohol and drug addiction, self-harm, and treatment for alcoholism. Bipolar disorder, acute depression, anxiety disorders, schizophrenia, mood disorder, psychotic disorder, post-traumatic stress disorder, obsessive-compulsive disorders, and attention-deficit/hyperactivity disorder are just a few of the conditions that are covered by Sukoon's mental health insurance. Ceremony for Women Startup Program is hosted by NSRCEL-IIMB and Kotak Mahindra Bank. The IIMB startup cluster, NSRCEL, and Kotak Mahindra Bank Limited together hosted the Bangalore valedictory celebration for the fourth cohort of the Women Startup Programme.  The event honored the accomplishments of fifteen entrepreneurs that were thrilled to be awarded grants for the third phase. Each initiative received Rs 5 lakh, and six founders in the special category received an additional Rs 5 lakh each in appreciation of their total progress since the program's start. The initiative has distributed a total of Rs 2.75 crore in funds.  Furthermore, the program's entrepreneurs have been successful in obtaining Rs 1.8 crore in outside finance. 267 female entrepreneurs who made the short list were chosen to get a 12-month incubation period NSRCEL will evaluate their prototypes and pitches to the screening committee over the course of a year.  By helping them to develop their ideas into profitable businesses, the initiative seeks to assist aspirational and creative women entrepreneurs. Over 23,053 women have benefited from the Women Startup Programme, which has helped them strengthen their managerial and entrepreneurial skills.  According to CarePay, its growth in 2023 was 100% month over month. According to CarPay, a financial platform for the healthcare industry, its growth in 2023 was 100% month over month. For the current quarter, the platform is anticipated to grow at a rate of 50% to 70% each month.