Archives July 2024

Bhubaneswar: BonV Aero, a pioneering company in manufacturing logistics drones and, has achieved a remarkable milestone by becoming the global winner of ‘ Meet the Drapers – Season 6’, the world’s largest pitch competition. This victory not only solidifies BonV Aero’s position as a leading deep-tech manufacturer of drones in the defense and aerospace sector but also marks the first instance of an Indian company winning ₹14 Crores grand prize in a US TV Show.

Commenting on this achievement, Mr. Satyabrata Satpathy, Co-founder & CEO, of BonV Aero said, “We are thrilled to have secured the top prize at Meet the Drapers, which underscores our dedication to excellence and innovation in the defence and aerospace sector. This success is a testament to the hard work and vision of our team it reinforces Odisha’s growing prominence on the global entrepreneurial stage.”

The panel of judges at Meet the Drapers included prominent figures such as venture capitalist Tim Draper and family, renowned for their early-stage investments in groundbreaking companies such as Tesla, Space X, Hotmail, Skype and 25 other unicorns. “Tim Draper’s endorsement of this innovative approach and vision is a tremendous honour” said the Dr.Barada P. Panigrahy, CEO, of SSU Innovation Foundation, Sri Sri University. “His recognition further validates the mission to revolutionise logistics through cutting-edge drone technology.”

BonV Aero’s recent accomplishments extend beyond this competition victory and funding success.BonV’s aerial vehicle is carbon-free, has zero emissions and will play an important role in India’s journey to Net Zero in 2070.“The company has successfully delivered advanced logistics drones to the Indian Army, showcasing its capability to operate in high-altitude and challenging environments, including altitudes above 10,000 feet”, said CTO and Co-founder Abinash Sahoo.

“It is a big achievement not only for BonV Aero but for all startups of our state. It is a global validation for our state’s startup ecosystem and it will inspire all. We are happy that Startup Odisha is growing and we consider BonV Aero’s success as ours. I am happy to share with you that a strong base of human resources and technical know-how is being developed in Odisha, which will help future startups in the field of Drone tech and aviation.” said Mr Omkar Rai, Executive Chairman of Startup Odisha.

AIC-CGU and C. V. RAMAN GLOBAL UNIVERSITY proudly celebrate the triumph of their incubated startup at Meet The Drapers, Season 6. Promoter Shri. Sanjib Kumar Rout said “We envision a robust Drone Ecosystem offering mentoring, prototyping/manufacturing facilities and funding opportunities to foster innovation and to empower aspiring entrepreneurs. We are also hopeful in assistingBonV Aero in securing funding for subsequent rounds and enhancing the startup’s valuation to position it among India’s unicorns.”

BonV Aero is committed to providing solutions to some unique pain points faced by the state of Odisha in disaster management, relief and rescue operations. The company’s vision is to establish itself as a global leader in carbon-free aerial mobility solutions in goods and people transportation, emphasising operational efficiency, reliability and continued innovation. Among others present on the occasion are Sthita Prajna, COO of AIC CV RAMAN GLOBAL UNIVERSITY and Bhagabati Pattnaik, KIIT Enabling Centre.

Chandigarh, JULY 03, 2024: Indian Hotels Company (IHCL), India’s largest hospitality company, has been recognized as the Master of Risk in Brand & Social Media Risk Management at the India Risk Management Awards 2024 by CNBC TV18 and ICICI Lombard. This award across industries, highlights IHCL’s leadership and excellence in managing and mitigating risks.

Mr. S Y Raman, Vice President – Group Internal Audit, IHCL said, “We are delighted to receive the recognition for managing risk in brand and social media. IHCL remains committed to implementing best-in-class practices to navigate the complexities of the modern business environment.”

The India Risk Management Awards recognise and honor organisations that excel in identifying, managing, and mitigating risks in a rapidly evolving economic landscape. As India has ascended to the 5th largest economy, these awards highlight the critical importance of preparedness, resilience, and sustainable growth amid increased global integration and diverse economic challenges.

The much anticipated Sushma All India FIDE Rating Chess Championship 2024, organized by Chandigarh Chess Academy under the aegis of Chandigarh Chess Championship and All India Chess Federation, concluded with a memorable closing ceremony at Dev Samaj College of Education, Sector 36 B, Chandigarh. The five-day chess championship aimed to promote chess at the grassroots level and foster international camaraderie. The presence of the Chief Guest, Sh. Nitin Narang, President, of the All India Chess Federation (AICF), added grandeur to the prize distribution ceremony.

From day one, the international championship showcased incredible skills and sportsmanship as players of all age groups from India and other countries competed fiercely to secure positions. In the finals, Akshay Anand – Punjab (8 points), Dinesh Kumar Jaganathan – Tamil Nadu (8 points), and ⁠Prithvi Sharma – Haryana (7.5 points) emerged victorious with impressive scorelines.

Prateek Mittal, Executive Director, of Sushma Group, expressed his delight and stated, “We are thrilled to witness such extraordinary talent and dedication from all the participants in the Sushma All India FIDE Rating Chess Championship 2024. This event has not only highlighted the exceptional skills of the players but also promoted chess at the grassroots level. The event also resonated with our aim to empower and strengthen minds, much like the care a mother provides, offering everyone a platform to shine. We extend our heartfelt congratulations to all the winners and participants for their remarkable performance.”

The international-level championship drew 470 participants, including players from other countries, competing across various age groups. The championship provided a platform for the players to showcase their skills. It was marked by enticing matches, enthralling the audience and leaving them excited for future editions.

Assen, July 03, 2024: A promising start to the race for both Joan Mir and Luca Marini would be extinguished early in the race as a fall and off-track moment saw them drop out of contention at the Dutch TT.

Both Repsol Honda Team riders entered Sunday with clear ambitions of forward progress. Starting well as the lights went out, Joan Mir quickly moved into the lead of the quarter of RC213V machines and attached himself to the main group. Sitting comfortably in the points with the majority of the race ahead of him, a small crash on lap seven would bring a premature end to proceedings. Mir was unharmed in the fall.

Looking to make up for the lost track time on Saturday, Luca Marini was determined to make amends. Slotting in behind his teammate as the lights went out, Marini made good progress in the first lap. Unfortunately, a moment in the opening sent Marini into the gravel, the Italian rejoining to collect the maximum amount of data. He finished 17th.

Now the race is on to arrive at the Sachsenring for the next round of the MotoGP World Championship, on-track action starting in just five days.

Joan Mir (17th)

“This weekend was full of bad luck for us, in today’s race I had the pace to fight with Zarco. Augusto Fernandez made contact with me early in the race and I went into the gravel, losing a lot of time. I think I had the potential to finish in the points. It’s clear that we need to keep on working and I think a fast track like Assen gives us some insight into what areas are most critical. It’s really good to have Sachsenring now, to have a better race before another break.”

Luca Marini (DNF)

“During the start, I had made some progress and was with the group fighting for the top ten. I was happy with my speed and breaking away from the riders behind and my feeling was improving with every lap. I was trying hard in Sector 1 to recover the time I was losing in other parts of the track and turn three I leaned just a little bit too much and lost the front. I am a rider who is always going to try for more, and sometimes this means we fall. That ended our race. We can see the areas we need to work on during the break.”

New Delhi, July 03, 2024 – Writesonic, a pioneering force in Generative AI for content creation and customer experience, backed by Y-Combinator, today announced a collaboration with Microsoft to advance AI-driven business solutions. Writesonic will integrate Microsoft Azure’s robust cloud infrastructure to deepen its presence in mid-market and enterprise sectors, promising security and innovation in Generative AI solutions.

With a user base exceeding 10 million and over 30,000 paying customers, including some of the Big 4 Consulting companies and major players like UN Women, Vodafone, and Next UK amongst others; Writesonic’s integration with Microsoft Azure offers businesses access to Writesonic’s AI-powered solutions with global scalability, advanced security, and regulatory compliance, empowering enterprises to maximize Generative AI’s potential while ensuring data privacy and reliability.

Writesonic’s offerings will be available through the Microsoft Azure Marketplace, providing businesses seamless access to AI-driven solutions. Integration with Microsoft products such as Microsoft 365 will also enable businesses to seamlessly incorporate Writesonic’s AI content marketing and SEO capabilities into their workflows, boosting productivity and operational efficiency.

Utilizing Azure AI, including Azure OpenAI Service, Writesonic aims to deliver cutting-edge AI models while continuously enhancing the accuracy and relevance of its solutions. For instance, Writesonic’s AI Article Writer platform generates SEO-optimized articles within minutes, enriched with real-time data and competitor analysis, facilitating higher rankings on Google search results.

Botsonic, Writesonic’s AI agent platform, improves business operations by transforming data into self-guided AI Agents.

“This collaboration represents a significant milestone for Writesonic,” stated Samanyou Garg, Founder and CEO of Writesonic. “By integrating our AI-powered solutions with Microsoft Azure, we aim to help enterprises harness Generative AI for real-world use cases like marketing, customer support, employee experience, and conversational commerce. Our goal is to help businesses increase their productivity in these areas by up to 70%. Together, we will drive innovation in AI-driven business solutions, enabling organizations to unlock new levels of efficiency and engagement. We project a 50% increase in our enterprise customer base within the next 12 months as we help businesses worldwide leverage the power of AI to stay ahead in the digital era.”

“Our AI toolchain, anchored by Azure OpenAI Service, offers a secure and scalable platform that enables AI-native startups to move quickly and innovate boldly. Writesonic’s triumphant journey is an example of how responsible AI can unlock opportunities in content creation and customer service,” said Sangeeta Bavi, Executive Director, Digital Natives, Microsoft India.

Writesonic’s integration with Microsoft Azure positions it as a leader in innovating AI applications and reshaping business landscapes. This collaboration underscores Writesonic’s dedication to delivering innovative, customer-centric solutions and setting new benchmarks in the industry.

MUMBAI—July 2, 2024— Prime Video, India’s most loved entertainment destination, unveils an exciting selection of 14 highly anticipated Indian and international series and movies in 5 languages for Prime members in the lead-up to Prime Day 2024 on the 20th and 21st of July. Customers can enjoy the highly anticipated Season 3 of the mega Indian Original series Mirzapur (Hindi) that premieres on 5th July with the battle for the throne of Mirzapur intensifying even further this season, as well as the global blockbuster Original series The Boys (English) Season 4 that has fresh episodes dropping every week up to Prime Day. With both series available with subtitles and dubs in multiple Indian languages, customers across the length and breadth of the country can enjoy the blockbuster shows in a language of their choice.

Prime Day celebrations kicked off weeks in advance on Prime Video with keenly awaited movies and series like the documentary Federer: Twelve Final Days (English) which follows Roger Federer in the last twelve days of his professional career, dystopian thriller Civil War (English), social drama PT Sir (Tamil), the critically acclaimed Naach Ga Ghuma (Marathi), heist comedy Gam Gam Ganesha (Telugu), historical Original series My Lady Jane (English), direct-to-service comedy drama Sharmajee Ki Beti (Hindi), and action comedy entertainer Inga Naan Thaan Kingu (Tamil). All of these exciting movies and series are now available to watch on Prime Video.

Prime Day celebrations don’t end here as Prime Video is also set to premiere the action thriller film Garudan (Tamil), romcom Space Cadet (English), and spy comedy My Spy: The Eternal City (English).

That’s not all, in the lead-up to Prime Day, Prime Video has also launched Crunchyroll, on Prime Video Channels, enabling customers to watch their favorite anime content via an add-on subscription for just INR 79 per month. Additionally, Prime members can also enjoy up to 50% discount when purchasing add-on subscriptions to other popular video streaming services on Prime Video Channels including MGM+, Lionsgate Play, discovery+, Sony Pictures Stream, honchos, ManoramaMAX, Mubi, and VROTT, among others. With Prime Video Channels, Prime members can watch more shows and movies, and experience no hassle login and billing while enjoying all Prime Video features like X-Ray, a single watchlist, and a download library for offline viewing, across several OTT services.

Amazon India returns with its much-awaited Prime Day on July 20 & 21, 2024. Prime members get ready to Discover Joy with big savings, great deals, new launches from leading brands, small and medium businesses, blockbuster entertainment, and much more. During Prime Day, save Big with 10% savings on payment using ICICI Bank Credit/Debit cards, SBI Credit Cards, and EMI transactions ICICI Bank Credit Cards and SBI Credit Cards. Amazon Prime is designed to make your life better every single day as it provides the best of shopping, savings, and entertainment in one single membership, unlimited 5% cashback on all purchases using their co-branded ICICI credit card, access to exclusive deals, early and exclusive access to our shopping events including Prime Day. Not a member yet? Join Prime Annual at ₹1,499 for one year, Prime Lite at ₹799 for one year, and Prime Shopping Edition at ₹399 for one year at amazon.in/prime to enjoy Prime benefits such as free and fast delivery, unlimited access to award-winning movies & TV shows with Prime Video, unlimited access to more than 100 million songs, ad-free and over podcast episodes with Amazon Music, a free rotating selection of more than 3,000 e-books, magazines and comics with Prime Reading and access to the monthly free-in game content and benefits with Prime Gaming.

Mumbai, India, 3rd July 2024: CredAble, India’s leading working capital technology platform, proudly announces the release of its latest whitepaper, “The Business Value of Working Capital Financing: A Working Capital Guide for the Corporate Treasurer.” The whitepaper delves into the fundamental concept of working capital, its significance within the corporate world, and the economic factors influencing working capital requirements. It addresses treasury-specific challenges and demonstrates how strategic working capital solutions can generate substantial financial value, impacting both top and bottom lines.

The whitepaper reveals key findings, such as the potential for a 6.8% increase in return on assets through efficient cash flow management. It also addresses the impact of rising inflation, projected to reach 6%, and increased interest rates, now at 6.5%, on working capital requirements – further highlighting a 20% rise in the interest service coverage ratio across listed firms, in the recent past. Additionally, the report highlights how implementing a software-based Cash Management System (CMS) can improve cash flows by 10%.

Ram Kewalramani, Co-founder & Managing Director, of CredAble, said, “The effective management of working capital is crucial for businesses, especially in today’s asset-light and uncertain economic environment. Our whitepaper provides corporate treasurers with the knowledge and tools they need to navigate these challenges and optimise their working capital strategies for sustained financial success.”

Key Findings from the Whitepaper:

1. Economic Headwinds Impacting Working Capital Requirements:

• Inflationary Pressure: With inflation anticipated to rise close to 6% within the Reserve Bank of India’s (RBI) tolerance band, cost-push inflation driven by rising Brent crude (35% increase over three years) and coal prices (75% increase) has significantly impacted operational costs across industries.
• Interest Rates: The RBI has raised the key lending rate by 2.5% over a single year, now standing at 6.5%. This escalation has increased borrowing costs for enterprises, exerting pressure on their working capital.

2. Debt Market Movement:

The yield spread between corporate and government bonds has narrowed over the past three years, indicating reduced market liquidity. The inclusion of Indian government bonds in the JP Morgan emerging debt index is expected to increase government bond yields further, potentially reducing liquidity in the market.

3. Treasury-Specific Challenges and Solutions:

• Cashflow Management: Effective management of cash flow is crucial, especially in an environment where 82% of enterprises face insolvency due to prolonged monetary crunches (SBA, 2021).
• Debt Administration and Risk Mitigation: The report outlines strategies to manage debt efficiently and mitigate financial risks amidst rising interest rates and economic volatility.

4. Value Creation through Supply Chain Finance: Companies engaging in cash flow management have experienced a higher return on assets (6.8%). The report discusses how supply chain finance can generate substantial financial value, impacting both top and bottom lines and enhancing overall financial performance.

5. Working Capital Optimisation Strategies: CredAble’s pioneering programs are highlighted, showcasing how automated and multifaceted working capital management initiatives can help enterprises optimise their financial resources. Real-world examples and case studies illustrate successful implementations of these strategies.

6. Cash Ratio Comparison: Indian firms listed on the NSE have a cash ratio of 0.29 compared to 0.64 for firms listed on the S&P 500, highlighting liquidity differences between these markets.

7. Effects of Short-Term Debt: From FY22 to FY23, excessive short-term debt has significantly impacted firms, leading to increased financial pressure. Implementing a software-based Cash Management System (CMS) can improve cash flows by 10%.

8. ISCR Improvement: A 20% rise in the Interest Service Coverage Ratio (ISCR) across listed service firms (excluding IT) and a 40% rise in ISCR across listed manufacturing firms indicate the improved ability to cover interest obligations due to better-working capital management.

9. Working Capital Days and Revenue: The white paper includes a graph from the PwC Working Capital Study 2022-2023 showing the inverse relationship between working capital days and top-line performance. Efficient working capital management can lead to better financial performance.

10. Commercial Paper Yields: The document highlights a consistent upward trajectory in commercial paper yields over the past two years, reflecting increased costs for short-term corporate debt. This trend is expected to continue, influenced by the performance of sovereign bonds.

As businesses move towards asset-light models, the importance of optimising working capital cannot be overstated. CredAble’s whitepaper serves as a comprehensive guide for corporate treasurers, providing them with the expertise needed to manage this vital financial resource effectively.

A Deep Dive into the Panacea of Modern Cosmetology and Dermatology

Beautyesthetics by Dr. Priya Parekh stands as a testament to the fusion of beauty and aesthetics, setting an unparalleled standard in the fields of Cosmetology and Dermatology in Pune. This article marks our second coverage of Dr. Parekh’s transformative work, and it delves deeper into how her unique approach and unwavering dedication have positioned Beautyesthetics as a frontrunner in the industry.

Dr. Priya Parekh, a distinguished TEDx speaker, has built a name that resonates with excellence and innovation in medical aesthetics. Her clinic, situated on the prestigious Bhandarkar Road, has become a haven for those seeking bespoke beauty solutions. Dr. Parekh’s philosophy revolves around a personalized elixir vitae, tailored to bring a radiant glow and renewed confidence to her patients. Her expertise spans a broad spectrum of treatments, from complete makeovers and Botox to cosmetic surgeries and lip augmentations.

The Vision and Mastery of Dr. Priya Parekh

With over 15 years of rich experience, Dr. Parekh had a vision to create a sanctuary where clients would feel pampered, well-facilitated, and at ease. She envisioned a place that offered an all-encompassing answer to beauty concerns, and today, her dream stands realized. Beautyesthetics is a culmination of her dedication to integrating aesthetics with beauty in a grandiose manner.

Her clientele is a testament to her skill and reputation, ranging from eminent socialites, fashion models, and politicians to the general populace of Pune and neighboring cities. Her clients seek her out for her unparalleled ability to blend medical expertise with an artist’s touch, transforming their appearance and boosting their self-esteem.

Challenges and Triumphs in the Realm of Cosmetic Medicine

Dr. Priya Parekh candidly speaks about the challenges inherent in her role as a Cosmetic Physician and Surgeon. Patients often approach her with insecurities and low self-confidence. Dr. Parekh’s approach involves making her patients comfortable, understanding their concerns, and explaining the procedures in a way that fosters trust and reassurance. The aesthetic setup of her clinic further enhances the patient experience, making each visit a step towards a more confident self.

The journey of addressing each patient’s unique needs is met with deadlines and challenges. However, Dr. Parekh and her team tackle these with finesse, continuously raising the bar for excellence. Their success stories are reflected in the morale and dedication of the team, making Beautyesthetics the go-to clinic for cosmetology solutions.

Comprehensive Solutions for Every Need

Beautyesthetics is renowned for its wide array of treatments, including Medifacials, wrinkle treatments, wart and mole removals, microblading, micro pigmentation, and a host of tribological solutions for hair growth, dandruff, and hair fall. Dr. Parekh’s commitment to proper counseling and guidance ensures that every patient receives a solution that is as effective as it is uplifting.

Her accolades are numerous, with awards recognizing her achievements as an Occupational Therapist and as a Woman of Substance. Titles such as “I Inspire Woman” are among the many laurels she holds, reflecting her profound impact on the field.

Beyond Professional Achievements: A Heart for Social Change

Dr. Priya Parekh’s dedication extends beyond her professional endeavors. She has committed a significant part of her life to her NGO, MeToWe Mission 2034, which has focused on men’s empowerment and gender neutrality since 2019. Her work in this area emphasizes the importance of emotional intelligence in men, pre-marriage counseling, and creating a gender-neutral environment for children. Her workshops for teenage boys and their parents regarding puberty have been groundbreaking.

Notably, Dr. Parekh takes pride in being the first to celebrate International Men’s Day in Pune, underscoring her commitment to social change and gender equality.
A Legacy of Beauty, Confidence, and Social Impact

In conclusion, Beautyesthetics by Dr. Priya Parekh is more than a clinic; it is a beacon of beauty, confidence, and social impact. Her state-of-the-art facility rejuvenates physical appearance and instills a renewed sense of self in her patients. Dr. Parekh’s holistic approach, combining aesthetic expertise with a genuine concern for her patients’ well-being, is what sets Beautyesthetics apart. Her journey from a dream to a recognized name in medical aesthetics is an inspiring tale of dedication, innovation, and social responsibility.

Mumbai, July 03, 2024: Edelweiss Mutual Fund (Edelweiss MF/ EMF / EAMC) has appointed Aniruddha Kekatpure as its Head of Research. Aniruddha is a seasoned professional with over two decades of rich industry experience in the financial services industry and asset management.

Edelweiss Mutual Fund now has a 15+ member strong equity investment team managing money across equities and factor investing. The equity & hybrid Asset Under Management (AUM) across these strategies has grown 2x in the last 2 years and now stands at over Rs. 53,000 crores as of June 30, 2024. This expanded team now strengthens and prepares the Asset Management Company (AMC) to be future-ready for further growth. With over 15 lakh investors investing in EMF’s well-diversified offerings, the total AUM has reached over Rs. 1.35 lakh crore as of June 30, 2024.

Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, commented on the appointment: ” We are delighted to welcome Aniruddha to the Edelweiss MF family. His expertise in strategy and macro research, along with his extensive experience across key sectors, will significantly enhance our capabilities. We believe his leadership will empower our research team to support our fund and portfolio managers in helping India’s retail investors grow their wealth through the capital markets. We are excited about his contributions as we pursue our strategic goals.”

On his appointment, Aniruddha Kekatpure cited, “With inflation stabilising and India showing a robust GDP growth trajectory, the capital markets are poised for an exciting growth phase. Mutual funds are fast becoming one of the favored investment avenues for India’s growing middle class. EMF is today one of India’s youngest and fastest-growing mutual fund houses. It is a bunch of dynamic and vibrant finance professionals. I look forward to working closely with my team to unearth opportunities and identify risks to enable our investors maximise their wealth.”

Aniruddha joined EMF after an extensive stint with JM Financial, where he was a member of the core fund management team. He was involved in spearheading strategy and macro research apart from covering a wide range of sectors with a primary focus on Consumption and Financial Services. Other areas that Aniruddha has covered at various points include Auto, Building Materials, Industrials, Telecom, and Media. Aniruddha is a Chartered Financial Analyst with an MBA (dual degree) from ICFAI University, Hyderabad. He has also completed the PGPMX MBA from IIM-Indore

Pune – Swaroma Musical Events presents “Romantic Hits of Rafi-Kishore” on 12th July, Friday, at 7 p.m. at Yashwantrao Chavan Auditorium, Kothrud in association with Keshav Magar Associates. The show will feature The Golden Era Of Soulful singers Like Kishore Kumar, and Mohammed Rafi who have entertained us with soulful tracks that are evergreen and unforgettable. These two legendary singers had their style and charm when it came to their tracks. Rafiand- Kishore were great personalities with amazing melodic voices. They always had the power to get the listeners to feel the songs they were listening to.

Popular songs of these two great singers have been included in the show which is organised by a singer from Pune, Anupama Kulkarni. She is Sangeet Visharad and runs her own Sangeet Academy. Last few years she has been conducting musical Thematic programs in India and also abroad.

The event will feature Popular songs of Mohammad Rafi and Kishore Kumar with the melodious voices of renowned singers Jitendra Bhuruk and Rafi Habib. Singer Anupama Kulkarni, Rajeshwari Pawar, and Dr. Rohini Kale will also accompany the Pair in Duets.

The show is coordinated by Karuna Patil, who is active in the Cultural Sector and Media. singers will be accompanied by Asif Khan on Keyboard, Baba Khan on Trumpet & Saxophone, Sayeed Khan on Keyboard, Hardik Raval on Guitar, Sachin Waghmare on Flute, Asif Inamdar on Rhythm Machine, Swayam Sonawane on Drums, Somnath Phatke on Tumba and Rohit Sahane on Tabla & Dholak. The show will be hosted by Akash Solanki.