Archives January 2024

Bengaluru, 09 January 2024: Indira IVF, India’s largest network of infertility treatment hospitals, has announced its international foray with the inauguration of its hospital in Kathmandu, Nepal. This marks the organization’s first move beyond the Indian borders, setting in motion its next growth phase with support from global private equity firm EQT which entered as Indira IVF’s majority owner in July 2023. Indira IVF seeks to take its expertise to South-East Asian, Middle-Eastern, European, and African countries.

According to the World Health Organisation (WHO), an estimated one out of every six people globally face challenges in conceiving at some point in their lives, making infertility a widespread concern affecting millions. Fertility issues are prevalent in both developed and developing nations, where high costs, societal stigmatization, and limited availability of solutions contribute to the challenges. The complexities of infertility, experienced by both men and women, add to its multifaceted nature. This global demand for fertility care spans diverse regions and demographics, underscoring the imperative for comprehensive solutions.

India has been a hub for medical tourism, with a ranking of 10 in the Medical Tourism Index (MTI) for 2020-21 out of the 46 destinations in the world. This has been driven by state-of-the-art facilities, reputed healthcare professionals, financial viability, quick appointments, and accreditation of hospitals. Increasingly more patients have started to visit the country for sexual, reproductive, and fertility care. At Indira IVF’s hospitals in India, over 400+ patients from Nepal, Bangladesh, and Sri Lanka have visited the country for their infertility treatment.

Speaking on the organization’s international expansion, Mr Nitiz Murdia – Managing Director and Co-Founder of Indira IVF said, “Our vision and mission is eradicating infertility, and as a natural progression, we are actively exploring global markets to expand our services. We have a meticulously structured international expansion strategy in place, to become the leader in every country we enter. Recognizing the multifaceted impact of infertility on families, including emotional, financial, and social aspects, we are committed to providing comprehensive solutions that address these challenges. Our pursuit extends beyond borders, driven by a dedication to making a meaningful difference in the lives of individuals and families worldwide, transforming our vision into a global reality.”

Commenting on the recent expansion into Nepal, Dr Kshitiz Murdia, CEO and co-founder of Indira IVF, stated, “Nepal has witnessed a consistent decline in fertility rates, reaching a low of 1.799 births per woman in 2023, in contrast to India’s 2.0 births per woman reported for 2019-21. As the first organized assisted reproductive technology (ART) player from India entering the country, Indira IVF plans to establish five more clinics nationwide to address the growing demand and provide accessible fertility solutions to families. Much like our approach in India, we aim to be trusted partners for all families seeking to fulfil their parenthood dreams.”

EQT is one of the largest and most active healthcare investors globally and over the past 30 years, the firm has invested more than USD 25 billion in over 200 healthcare companies across every stage of their development, from early-stage life sciences start-ups to global market leaders. After having entered as majority owner in July 2023, EQT aims to leverage its deep healthcare sector expertise and global networks to support Indira IVF in its next phase of growth.

Ashish Agrawal, Partner at EQT in India, added, “The issue of infertility is brewing up across the globe and has now become a leading healthcare issue. Indira IVF has addressed this from the front in India with its best-in-class medical infrastructure and technology, fulfilling the dreams of many couples across the country. With a similar approach, Indira IVF has now embarked on its international journey by entering Nepal in its first phase. Indira IVF aims to address the core issues, by fostering awareness and delivering optimal treatment. EQT’s investment signifies our confidence in Indira IVF’s proven methodology, and we are excited to be part of their next phase of transformative growth.”

To maintain standardization, all specialists and staff members globally will be trained at Indira Fertility Academy (IFA). Recognized by the Merck Foundation and British Fertility Society, IFA is the academic wing of Indira IVF that was set up with a vision to develop and groom talent for infertility treatment. Indira IVF’s people power of over 2,700 specialists and staff across its 120-plus hospitals have been trained on the latest technology, procedures, and standard processes; this has molded the organization’s direct-to-customer approach and medical outcomes.

Gangtok, 9th January 2024: The Hon’ble Finance Minister, Government of India, Smt. Nirmala Sitharaman, handed over/announced the sanction worth of Rs 52.87 crore of funds for developmental initiatives by NABARD to boost rural development during her visit to Sikkim for Credit Outreach Programme on January 6, 2024. The noteworthy initiatives included support for rural connectivity (Rs 50.71 crore), a grant of Rs 1.29 crore for livelihood support to tribal households, Rs 28.28 lakh for ongoing orchard-based livelihood intervention, Rs 22.79 lakhs for spring shed development intervention aiming to rejuvenate 12 identified springs crucial for the water supply to 850 families, grant assistance of Rs 34.50 lakh to Sikkim State Cooperative Bank Ltd. (SISCO) for financial inclusion initiatives, including conducting 200 Financial Literacy camps and providing 100 micro-ATMs to identified Milk Cooperative Societies. Esteemed key dignitaries, including Shri Prem Singh Tamang, Hon’ble Chief Minister of Sikkim; Shri Vivek Joshi, Secretary, DFS, Government of India; and Shri Shaji K.V., Chairman of NABARD were present during the event. The Hon’ble Finance Minister also acknowledged the immense potential for Sikkim to grow and the crucial role of banking and development & refinancing institutions like NABARD, in rebuilding the state after the flash floods.

NABARD organized an interaction program with a group of FPOs in the state with Dr. Vivek Joshi, Secretary, DFS, Government of India on January 7, 2024, at Namchi. Dr. Joshi was accompanied by Shri Shaji K.V., Chairman of NABARD, and Shri P K Goyal, Joint Secretary, DFS, Government of India. FPO members represented four FPOs, namely Sankhu Radhu Khandu Farmers Organic Producer Cooperative Society Ltd from Gyalshing district, along with Bermiok Tokal Farmer Producer’s Cooperative Society Ltd., Passi Farmer Producer’s Cooperative Society Ltd., and Gangchung Farmer Producer’s Cooperative Society Ltd. from Namchi district. The Secretary DFS interacted with the FPO representatives at length and deliberated on their set of activities, their role, and the benefits that this aggregation of farmers into FPOs had brought to the individual farmers. He also expressed that this interaction greatly helped to understand the ground realities of the FPOs’ activities, the spread of credit, and other Banking activities in far-flung areas and urged banks to expedite the process of credit disbursements. He advised stakeholders to orient their activities actively towards the small, marginal, and dairy farmers given their significance to the economy.

Shri Shaji K.V., Chairman, NABARD, in his address, highlighted the priority of NABARD in strengthening cooperatives. He stated, “NABARD has continued its efforts to support FPOs presently under the umbrella of Cooperatives.” He further stressed the need for strengthening the value chain of agricultural commodities via such FPOs. “The convergence of funding support reflects NABARD’s dedication to strengthen the agricultural value chain. Notably, in Sikkim, where every FPO is registered under the Cooperative Societies Act, we take pride in supporting these entities directly from our own financial resources. The successful transition of all MPCSs to the ‘go live trial’ stage in PACS computerization project marks a pioneering achievement. We appreciate the FPOs for providing valuable insights, ensuring our interventions align with ground-level reality,” he added.

Bengaluru, India –9th January 2024 Today, McAfee Corp., a global leader in online protection, announced its AI-powered Deepfake Audio Detection technology, known as Project Mockingbird, at the Consumer Electronics Show. This new, proprietary technology was developed to help defend consumers against the surging threat of cybercriminals utilizing fabricated, AI-generated audio to carry out scams that rob people of money and personal information, enable cyberbullying, and manipulate the public image of prominent figures.

Increasingly sophisticated and accessible Generative AI tools have made it easier for cybercriminals to create highly convincing scams, such as using voice cloning to impersonate a family member in distress, asking for money. Others, often called “cheap fakes,” may involve manipulating authentic videos, like newscasts or celebrity interviews, by splicing in fake audio to change the words coming out of someone’s mouth; this makes it appear that a trusted or known figure has said something different than what was originally said.

Anticipating the ever-growing challenge consumers face in distinguishing real from digitally manipulated content, McAfee Labs, the innovation and threat intelligence arm at McAfee, has developed an industry-leading advanced AI model trained to detect AI-generated audio. McAfee’s Project Mockingbird technology uses a combination of AI-powered contextual, behavioral, and categorical detection models to identify whether the audio in a video is likely AI-generated. With a 90% accuracy rate currently, McAfee can detect and protect against AI content that has been created for malicious “cheapfakes” or deep fakes, providing unmatched protection capabilities to consumers.

“With McAfee’s latest AI detection capabilities, we will provide customers a tool that operates at more than 90% accuracy to help people understand their digital world and assess the likelihood of content being different than it seems,” said Steve Grobman, Chief Technology Officer, McAfee. “So, much like a weather forecast indicating a 70% chance of rain helps you plan your day, our technology equips you with insights to make educated decisions about whether content is what it appears to be.”

“The use cases for this AI detection technology are far-ranging and will prove invaluable to consumers amidst a rise in AI-generated scams and disinformation. With McAfee’s deepfake audio detection capabilities, we’ll be putting the power of knowing what is real or fake directly into the hands of consumers. We’ll help consumers avoid ‘cheapfake’ scams where a cloned celebrity is claiming a new limited-time giveaway, and also make sure consumers know instantaneously when watching a video about a presidential candidate, whether it’s real or AI-generated for malicious purposes. This takes protection in the age of AI to a whole new level. We aim to give users the clarity and confidence to navigate the nuances in our new AI-driven world, to protect their online privacy and identity, and well-being,” continued Grobman.

McAfee is building on its rich history of AI innovation, the first public demos of Project Mockingbird, McAfee’s Deepfake Audio Detection technology, will be available onsite at the Consumer Electronics Show 2024. The unveiling of this new AI technology is also further evidence of McAfee’s focus on developing a comprehensive portfolio of AI models that are cross-platform and serve multiple use cases to safeguard consumers’ digital lives.

Why Project Mockingbird

Mockingbirds are a group of birds primarily known for mimicking or “mocking” the songs of other birds. While there’s no proven reason as to why Mockingbirds mock, one theory behind the behavior is that female birds may prefer males who sing more songs, so the males mock to trick them. Similarly, cybercriminals leverage Generative AI to “mock” or clone the voices of celebrities, influencers, and even loved ones to defraud consumers.

Deep Concerns about Deepfake Technology

Consumers are increasingly concerned about the sophisticated nature of these scams, as they no longer trust that their senses and experiences are enough to determine whether what they’re seeing or hearing is real or fake.

For over a decade, McAfee has used AI to safeguard millions of global customers from online privacy and identity threats. By running multiple models in parallel, McAfee can perform a comprehensive analysis of problems from multiple angles. For example, structural models are used to understand the threat types, behavior models to understand what that threat does, and contextual models to trace the origin of the data underpinning a particular threat. Utilizing multiple models concurrently allows McAfee to provide customers with the most effective information and recommendations and reinforces the company’s commitment to protecting people’s privacy, identity, and personal information.

This document contains information on products, services and/or processes in development. All information provided here is subject to change without notice at McAfee’s sole discretion. Nothing in this document shall be considered an offer by McAfee, create obligations for McAfee, or create expectations of future releases which impact current purchase or partnership decisions.

Hyderabad: 09th, January 2024: Novotel Hyderabad Airport (NHA) located at GMR Aerocity, Hyderabad stands as the epitome of opulence in the hospitality realm, and proudly heralds a new era of sustainable luxury. In alignment with its unwavering commitment to sustainability and eco-conscious travel, the property unveiled two opulently engineered Citroen electric vehicles (EVs), coinciding with the recent launch of the state-of-the-art EV charging station. The initiative underscores Novotel Hyderabad Airport’s resolute dedication to a greener, more conscientious tomorrow.

The acquisition of the illustrious Citroen electric cars represents a formidable stride towards embracing a sustainable culture. These exceptional EVs are infused with cutting-edge technology, offering an exquisitely refined travel experience while upholding the commitment to ecological responsibility.

Mr. Sukhbir Singh General Manager at Novotel Hyderabad Airport, eloquently remarked, “Our steadfast focus on sustainability is a pinnacle of our philosophy. By adorning our fleet with the sophistication of Citroen electric cars, we aspire to redefine opulence in the hospitality sphere and grace our surroundings with an aura of environmental benevolence. This epitomizes Novotel Hyderabad Airport’s commitment to transcending conventional hospitality paradigms and moving ahead towards a greener future. “

Novotel Hyderabad Airport has taken significant strides towards mitigating its carbon footprint and champions the cause of contemporary, energy-efficient transportation solutions. In addition to introducing the two Citroen EV vehicles to the shuttle fleet, the property offers its guests the convenience of an EV charging station, further reinforcing their commitment to sustainability and eco-conscious travel experiences.

New Delhi (9th January 2024 – GoMechanic, in an initiative aimed at advancing automotive skill development, has entered into a strategic Memorandum of Understanding (MOU) with the International Automobile Centre of Excellence (iACE). iACE is a joint initiative of the Government of Gujarat and Maruti Suzuki India Limited and is the country’s first-of-its-kind center for automobile training with state-of-the-art infrastructure and technical labs.

Commenting on this new partnership Mrs. Muskan Kakkar, COO and Co-Founder of GoMechanic said, “This collaboration is not just about upskilling; it’s a holistic effort to transform the automotive workforce. By integrating iACE’s expertise with GoMechanic’s extensive network, we aim to create a workforce that is not only technically proficient but also adaptive to the evolving automotive landscape. Through this collaboration, we also aim to create a pipeline of manpower by providing deserving individuals enrolled at iACE with employment opportunities, thereby contributing to the growth of skilled professionals in the Indian automotive sector.”

Under this strategic partnership, GoMechanic and iACE will embark on a mission to uplift the existing ecosystem by up-skilling the automotive workforce. The MOU, symbolizing this commitment, was recently signed by distinguished representatives from both organizations. Among them was Mr. Rajiv Gandhi, the Managing Director of iACE and a Member of the executive Board of Maruti Suzuki India, underscoring the strategic importance and industry-wide impact of this collaboration.

GoMechanic’s strategic collaboration with iACE is a significant move towards advancing workforce development skills for over 5000 service Mechanics associated with its extensive network of 600 workshop partners. Under the guidance of iACE, these Mechanics will undergo phased upskilling programs designed to keep them abreast of the latest automotive technologies, including Hybrid and Electric Vehicles (EVs), keeping in mind the newest addition to the GoMechanic family – GoMechanic EV, a partnership with MoEVing and other key fleet aggregators.

“The importance of skilled Mechanics cannot be overstated, especially in India where the automotive industry is rapidly advancing.This initiative is not just about improving technical capabilities; it’s a commitment to staying ahead in the game, embracing upcoming technologies like Hybrid and EVs, and ultimately enhancing consumer and employee satisfaction. ” – Rajiv Gandhi, Chief Executive Officer of iACE and Member -Executive Board of Maruti Suzuki, commented on their partnership with GoMechanic

“We’re proud to announce our collaboration with iACE, a step towards upskilling 5000 Mechanics yearly. At GoMechanic, our goal is clear – delivering robust, OEM-standard services. This aligns with our commitment to the ‘Skill India’ initiative by our honorable Prime Minister Shree Narendra Modi.” – Himanshu Arora, CEO and Co-Founder of GoMechanic added

The collaboration between GoMechanic & iACE reflects on the commitment of the Government of India by supporting the skilling ecosystem to shape into a skilled and adaptive automotive workforce capable of meeting the challenges of the industry’s future. This strategic partnership is poised to set new standards in the realm of automotive skill development, consumer satisfaction, and industry-wide impact.

Mumbai, 9th January 2024 Hitachi Payment Services, India’s leading end-to-end payments and commerce solutions provider, today announced that it has completed its acquisition of Writer Corporation’s Cash Management Business and unveiled its new name – Hitachi Cash Management Services, in line with Hitachi’s single brand identity. Hitachi Cash Management Services Pvt. Ltd. would be a wholly owned subsidiary of Hitachi Payment Services Pvt. Ltd.

This acquisition will enhance Hitachi Payment Services’ market position as a holistic provider of payments and commerce solutions, further strengthening its value proposition to financial institutions and merchants.

Hitachi Cash Management Services would offer ATM Cash Replenishment services for Financial Institutions and Retail Cash Management Services (RCM) for retail outlets. With a strong network of close to 40,000 touchpoints including ATMs and Retail spanning 25 states across 1,500 locations, Hitachi Cash Management Services’ end-to-end offerings are tailored to meet the needs of financial institutions and retailers, helping them manage their day-to-day cash-related requirements seamlessly and efficiently.

Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, said, “We are committed to providing solutions that effectively meet the varied needs of our customers. Through Hitachi Cash Management Services, we will be able to deliver comprehensive services to financial institutions and retail merchants, furthering our vision of becoming an end-to-end payments and commerce solutions provider.”

“We are also happy to introduce Anup Neogi as the Managing Director and CEO of Hitachi Cash Management Services. Anup’s exceptional career trajectory and extensive experience in the Cash Management space makes him an exemplary leader, poised to steer the company towards new heights of success.”

“I am delighted to lead Hitachi Cash Management Services during this dynamic phase of growth and innovation in the payments space. We aim to provide best-in-class services to our customers, through a customer-focused approach that is high on transparency, cost-effectiveness, and value creation. With our deep understanding of customer needs and technology-led approach, our offerings will enable customers to gain a competitive edge”, said Anup Neogi, Managing Director and Chief Executive Officer, of Hitachi Cash Management Services.

Hitachi Payment Services is a pioneer in the payment industry in India, offering a comprehensive range of payment solutions including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Payment Gateway Solutions, Toll and transit Solutions as well as innovative offerings such as HPY UPI Universe, SoftPOS, Value Added Services, AI & ML based solutions, HPY Sigma – next-gen mobile based merchant platform and HPY Neo – UPI ATM. The company is committed to delivering exceptional customer experiences and driving financial inclusion across India.

Pune,9th January 2024: FLAME University is proud to announce its collaboration with the Indian Health Economics and Policy Association (IHEPA) for the 11th Annual Conference on Health Policy Advancing Research and Communication, taking place from January 17 to 19, 2024, at FLAME University in Pune.

This annual conference, hosted in collaboration with FLAME University, promises to be a pivotal event where academics, experts, scholars, policymakers, and practitioners converge to foster collaboration and generate innovative solutions in the realms of health and healthcare policy.

With an increasing need for heightened awareness regarding global health challenges, the conference serves as a crucial platform to navigate the complex landscape of healthcare. The primary focus is on improving health system performance, enhancing nutrition for vulnerable communities, leveraging data science for informed policy decisions, and fostering inclusive, interdisciplinary collaboration.

Commenting on the conference, Dr. Dishan Kamdar, Vice-Chancellor, FLAME University, stated, “This conference is an opportunity to bring together brilliant minds from various domains in health policy. We believe that by pooling our knowledge, we can drive impactful change in global health policy. Our mission is to explore comprehensive solutions that transcend the boundaries of conventional thinking.”

The conference will feature a diverse range of abstract themes, including development sector and public health, data science and geospatial analytics, maternal and child health, health financing, health behaviors and practices, and more. These themes will guide comprehensive discussions and knowledge exchange during the event.

The platform created by this collaboration will facilitate knowledge exchange, research exploration, and address global health challenges. Experts and scholars will engage in insightful conversations, leading to evidence-based policies that not only tackle present health issues but also contribute to building a healthier, more resilient, and equitable world for future generations.

Bengaluru, 9th January 2024: Angel One, India’s leading fintech player announces the joining of Ms. Anuprita Daga as its Group CISO (Chief Information Security Officer). Angel One considers information security as a backbone of its operations, leveraging technology and data-driven approaches, to deliver unparalleled solutions to its clients. The fintech’s unwavering commitment to technological excellence is exemplified by this strategic appointment of Group CISO, who will play a pivotal role in strengthening and advancing the security infrastructure across multiple businesses of Angel One. This appointment underscores Angel One’s dedication to upholding the highest standards of data privacy and security in the ever-evolving landscape of financial technology.

Anuprita joins Angel One with an impeccable 25 years of domain expertise in spearheading security transformation, establishing and implementing security strategy, managing data privacy, and ensuring adoption and compliance of regulatory and global standards in the banking and finance industry. In her current role, Anuprita will enhance the information security, cyber security and data privacy framework at Angel One. She will focus on further developing, implementing, and enforcing robust security policies to safeguard customer sensitive information and sensitive information across the organization.

Mr. Dinesh Thakkar, Chairman and Managing Director, Angel One Limited, said, “This marks a significant milestone for Angel One as we proudly welcome Anuprita to our team, as the Group Chief Information Security Officer. Her extensive experience and proven track record in championing data security, align seamlessly with our commitment to setting new standards in the fintech space. With Anuprita at the helm of our security strategy, we reaffirm our dedication to fortify our commitment to ensure enhanced security measures to our clients.”

Ms. Anuprita Daga, Group CISO, Angel One Limited, said “I am thrilled to join Angel One, a pioneering force in the fintech space. As Group CISO, I look forward to leveraging my experience to fortify the organization’s security posture. Angel One’s commitment to technological excellence aligns seamlessly with my passion for driving robust security strategies. Together, we will navigate the dynamic landscape of data security, ensuring the highest standards of privacy for our clients and contributing to the continued success of Angel One in the fintech industry.”

As the former CISO of Yes Bank, Anuprita demonstrated exemplary competence in overseeing compliance within a complex and varied regulatory landscape. She was pivotal in driving security practices across Digital Banking Channels and products providing secured banking services. She has also ensured comprehensive security practices implementation across associated third-party outsourcing partners.

Anuprita has garnered esteemed recognition within the industry due to her outstanding accomplishments. She has been bestowed with The Global Top 100 Chief Information Security Officer by one of the UK forums. In addition to the international honor, she has earned the distinction of being recognized as a Top CSO 50 India and Top 10 Women Tech Leaders by various forums.

Furthermore, Anuprita actively contributes to the industry’s development, serving as a respected member of the jury for CNBC, CISO MAG Awards, the Women in Cyber Security (WiCSE) forum from the USA, and many other forums. Her commitment extends to participating as a judge and mentor for the start-up evaluation program initiative driven by the Data Security Council of India (NASSCOM) and Karnataka State Council.

Bengaluru, 9th Jan 2024: ACC Limited, a subsidiary of Ambuja Cements Limited and a leading entity in the cement and building materials sector currently holds 45% stake in Asian Concretes and Cements Private Limited (ACCPL). Today it announced the successful acquisition of the remaining 55% stake in ACCPL from its existing promoter at an Enterprise Value of Rs. 775 Cr resulting in entire ownership of ACCPL. The EV includes Cash and cash Equivalent of Rs. 35 Cr.
ACCPL has a 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while its subsidiary Asian Fine Cements Pvt Limited (AFCPL) has a 1.5 MTPA cement capacity in Rajpura (Punjab).

The entire acquisition is funded through internal accruals and will help ACC & its parent company Ambuja to further bolster market leadership in the lucrative North India market.

Mr. Ajay Kapur, WTD and CEO, of ACC Limited, expressed, “With this acquisition, we are furthering our growth trajectory, enriching our portfolio, and continuing to accelerate our journey towards value creation for all our stakeholders. This aligns seamlessly with our vision for expansion and serves as a testament to ‘ACC’s Bharosa Atoot’, resonating deeply with our values.

This strategic move enhances ACC’s cement capacity and progress on the overall target of 140 MTPA capacity of Adani’s Cement Business by 2028. While ACC has an existing tolling arrangement with the Nalagarh unit, the Rajpura plant’s additional 1.5 MTPA capacity will strategically cater to a vast customer base across three states – Himachal Pradesh, Haryana, and Punjab. Notably, ACC and Ambuja Cements possess sufficient clinker to support the Rajpura plant, inclusive of its future expansions.

This acquisition reinforces Ambuja and ACC’s market leadership, elevating Adani Group’s overall cement capacity to 77.40 MTPA. With ongoing and planned CAPEX investments, the Adani Group’s cement capacity is poised to reach 106 MTPA by FY 2026.

Noida, 9th January 2024 Kidbea, an innovative bamboo-based kids fashion brand, today announced that it has raised $1 million in funding in the Pre-series A round led by early-stage investment firm Venture Catalysts.

The funding round also saw involvement from Agility Ventures and BestVantage Investments, as well as notable figures in the industry such as Sandeep Agarwal and Upasana Agarwal, founders of Droom, Ashok Bahadur, alongside a group of experienced angel investors, and HiroMizushima, a well-known celebrity actor in Japan.

Founded in 2021 by Swapnil Srivastav, Mohammad Hussain, and Aman Kumar Mahto, Kidbea specializes in creating bamboo plant-based, skin-friendly, and comfortable children’s apparel. Kidbea’s products effectively tackle issues such as discomfort, skin rashes, and food spillage in newborns by providing GOTS (Global Organic Textile Standard) certified clothing that is environmentally friendly and gentle on children’s skin.

Kidbea will use the funding to boost its marketing and branding initiatives, expand its team, and improve operations. Additionally, a strategic portion of the funds will be allocated to research and development and technology to maintain a leading position in the rapidly evolving children’s fashion industry.

At present, Kidbea has a presence on all major online platforms and is available in over 30 partnered stores located in premium children’s hospitals. Additionally, Kidbea has expanded its global reach to include the UAE, Bahrain, and Australia. The brand’s varied product portfolio features over 250 SKUs, encompassing kids’ rompers, bodysuits, reusable cloth diapers, soft toys, and accessories.

On the expansion plan and the new funding, Aman Kumar Mahto, Cofounder of Kidbea said, “The funding signifies a major milestone in our journey to turn Kidbea into a Rs 500 crore brand within the next 3 years. This funding provides us with the means to improve our sustainable offerings, extend our global presence, and persist in redefining children’s fashion.”

On the overall opportunity and growth potential, Founders added that Kidbea posted an impressive 8X revenue growth in FY-23 demonstrating the brand’s growing appeal in the burgeoning kidswear segment that is pegged at USD 16.4 billion.

Highlighting the potential within the children’s apparel and accessories market, Dr. Apoorva Ranjan Sharma, Cofounder and Managing Director of Venture Catalysts, expressed, “Choosing to invest in Kidbea was an obvious decision for us. With India’s daily birth rate exceeding 67,000 children, there is a substantial opportunity for Kidbea to target the market across both metropolitan areas and small towns, driven by the increasing awareness among new parents regarding sustainable and eco-friendly clothing. Kidbea’s innovative approach and dedication to quality align with the changing expectations of mindful consumers. We have confidence in Kidbea’s potential not only to redefine children’s fashion but also to make a significant contribution to the sustainable fashion landscape.”

Striving to evolve into a Rs500 Crores brand within the next three years, Kidbea is on a trajectory of growth. The company’s dedication to sustainability and quality, along with the strategic deployment of its recent funding, positions Kidbea to further its expansion and solidify its position as a frontrunner in the global children’s fashion industry.