Archives January 2024

19th January 2024, Bhubaneswar: Aerial logistics drone startup BonV Aero has raised INR 6 Crore in a round led by Inflection Point Ventures (IPV). Funds will be primarily directed toward client demonstrations, team expansion, and internal R&D focused on enhancing products for customers, researching propulsion systems and advancing power plants.

BonV Aero revolutionizes aerial mobility through cutting-edge electric vehicles for both goods and passenger transportation specializing in state-of-the-art aerial vehicles tailored for challenging terrains like the Himalayas. The company’s focus extends to critical needs such as Indian defense logistics, disaster relief, emergency medical services, supply chain logistics and rapid commerce deliveries. BonV Aero stands as a brand synonymous with top-tier safety and unparalleled convenience in aerial transportation.

BonV Aero’s startup journey is already marked by big wins like ranking amongst top 3 finalists on “Meet the Drapers” TV Show in the USA late last year. The startup is led by Satyabrata Satapathy (CEO & Co-founder), Gaurav Achha (Co-CEO & Co-founder), Abinash Sahoo (CTO & Co-founder), Rahul Kumar (Chief of Design & Co-founder), Sultan Khan (Chief of Manufacturing & Co-founder) and Umang Rathi (Chief of Operations & Software) who collectively bring diverse expertise from renowned companies like Asteria Aerospace, Bosch Automotive and ISRO.

Madhukar Bhardwaj, Sr. Vice President, Inflection Point Ventures, says, “Aerial logistics has been a boon during emergencies, however, it comes with its own challenges. Understanding the power of aerial space transportation, BonV Aero has developed a state of art technology and is one of India’s pioneering multi-utility electrical air vehicles having demonstrated the capability of carrying 50 kilos in hilly regions, providing much-needed relief during natural calamities and when surface movements are unfavorable. These drones are clean, smart, sustainable, and most importantly safe and affordable. With one of its kind innovative products, the company is sure to scale business across borders and we at IPV look forward to extending our strategic support.”

BonV Aero stands out for creating India’s first logistic aerial vehicle, capable of carrying 50 kilos over 10 kilometers at 10,000 feet in hilly regions and have backed commercial orders. This innovative vehicle operates autonomously, without constant pilot intervention, thanks to its self-flying technology. Its in-house propulsion system ensures efficient flights in extreme weather and high altitudes, marking it as a reliable choice for challenging conditions.

At present, BonV Aero is actively conducting product trials with the Indian Army, marking an initial phase in an operational scale.

Satyabrata Satapathy, CEO & Co-Founder, of BonV Aero, says, “Funds will be deployed to mature our current Aerial Platform and conduct demonstrations to scale orders in this segment. The support from IPV investors significantly bolsters our confidence in the path we’ve traveled and our vision to revolutionize aerial mobility for both goods and people in India and worldwide. I appreciate the seamless deal flow, characterized by sharp timelines, as we firmly believe that, in addition to financial backing, time is a critical factor in any startup journey. We also extend our gratitude to the Dynamic Orbits team, our advisors and mentors for their constant support in our fundraising and growth journey.”

BonV Aero is incubated at AIC CV Raman Global University, Odisha, and has secured the HDFC CSR Social Impact Grant. They’ve partnered with respected institutions like IIT Mandi and Bhubaneswar, and are recognized among the top 10 startups selected by the Indian Army’s Army Design Bureau (ADB). Collaborations with IITs drive innovation, and nods from Headstart Network Foundation and NITI Aayog highlights their role in India’s innovation landscape.

The logistic aerial vehicle market in India is estimated at $6.7 billion, while the global market is projected to reach $44 billion by 2027.

New Delhi,19th January 2024: mTap, a US-based digital networking solutions provider, is excited to announce the launch of its operations in India. With a unique approach to networking and prospecting, mTap provides a seamless solution for individuals and businesses looking to make lasting impressions and build meaningful connections by making follow-up processes more effective and streamlined and facilitating the sharing of digital assets, including contact details.

One of mTap’s key offerings is an advanced digital business card platform designed to enable meaningful connections with an innovative approach to follow-up strategies. Users can effortlessly share digital business cards through a single tap, scan, or link, eliminating the reliance on physical business cards. The platform is compatible with both iPhone and Android smartphones, allowing users to create personalized profiles encompassing contact information, social media accounts, payment methods, and various digital assets without requiring an app for viewing.

Enabling the users follow up effectively and efficiently, the platform allows users to set up auto follow-up messages, reminders, and notifications to stay in touch with their prospects and clients. Users can also track the performance of their profiles and links through analytics and insights, and optimize their networking strategies accordingly. mTap helps users to convert leads into customers, and customers into loyal advocates.

The platform’s other standout features include personalization options that enable users to showcase their personal brand through themes, colors, and templates. Sharing contact information is simplified through tapping phones, scanning QR codes, or sharing unique links. Users can also link to diverse digital assets, capture leads seamlessly, and manage contacts efficiently, all integrated with a user-friendly dashboard and CRM capabilities.

Commenting on the development, Roopak Gupta Founder & CEO mTap, said, “At mTap, we envision a future where meaningful connections are forged effortlessly in the digital realm, transcending the limitations of traditional networking. mTap is not just a platform; it is a catalyst for a paradigm shift in how we present ourselves and engage with others. By harnessing the power of technology, we aspire to empower individuals and businesses to create lasting impressions, save resources, and contribute to a sustainable and connected world. As we embark on our journey in India, we are excited to be at the forefront of shaping the future of networking, one tap at a time.”

mTap offers a free plan allowing users to create digital profiles with unlimited links, a custom email signature, a profile QR code, and a lead form. For those seeking advanced features, mTap Pro plans are, priced at INR 469.00 per month, INR 4999.00 per year and INR 24,900 for a lifetime, providing an array of benefits, including multiple profiles, advanced fields, link analytics, auto follow-up, offline QR codes, and CRM integrations. As an introductory offer, mTap is offering heavy discounts of 50% off on lifetime subscriptions and 30% off on annual subscriptions.

One of mTap’s distinctive features is its ability to save users money by replacing physical business cards and enabling real-time information updates. The Pro version further empowers users to connect profiles to a CRM, scan paper cards, and manage multiple profiles efficiently.

With a vision to contribute to India’s digital transformation, mTap aims to achieve an annual recurring revenue of USD 1 million by the end of the fiscal year. The beta testing phase, which saw over 14,000 registered users, 126,000 connections made, and 50,000 leads generated in just six months, reflects the platform’s promising potential.

Inspired by the opportunity to save paper, increase productivity, and align with India’s digital evolution, mTap’s entry into the Indian market marks a significant step towards empowering individuals and businesses with a modern and efficient networking tool.

Mumbai, 19th January 2024: DigiBoxx, a Made in India Storage as a Service platform, is pleased to announce that Dinesh Gulati, Chief Operating Officer at IndiaMART, has been appointed to serve on the Company’s Board of Directors (the “Board”), effective January 1, 2024.

Dinesh is an established business leader who has played a pivotal role in transforming the Telecom and online commerce businesses in the country. With his vision to make doing business easy, Dinesh has been one of the key leaders in the industry, involved in continuous innovation and digital transformation for businesses. His disruptive outlook and astute decision-making have not only made IndiaMART a one-stop expert solution, serving more than 100 million customers but has also unlocked huge value for all the stakeholders.

Before joining IndiaMART, Dinesh served as the Group President at Indian Express, managing the entire Operations and Revenue streams. With a vast entrepreneurship experience spanning over 22 years, he has also worked with leading brands like Airtel, Reliance Communications, and Eastman Kodak in key roles.

“Dinesh is an exceptional industry leader, intrapreneur, and an investor and weare excited to welcome him to the Board,” said Arnab Mitra, Founder and CEO at DigiBoxx. “Dinesh’s insights and experience will be an additional force to serve the Company well as we continue advancing our footprint as a world-class IT platform for both our enterprise and individual users, offering exceptional, frictionless, and seamless experiences while increasing efficiencies. We look forward to leaning on Dinesh’s experience in our journey to reshape and reimagine the way we provide services to our clients.”

“I’m excited to join DigiBoxx as a Director at this juncture of their growth and to have the opportunity to work with a talented group of thought leaders,” said Dinesh. “I look forward to serving on the board of DigiBoxx and helping to take it to the next level of its digital and transformational journey.”

A management postgraduate from FMS Delhi with a bachelor’s degree in technology from HBTI Kanpur, Dinesh’s interests include reading, traveling, and trekking.

19th January 2024 , New Delhi: In his special address, at the ASSOCHAM 5th Beauty, Wellness & Personal Care Symposium-cum-Felicitation Ceremony. Mr. A.K. Pradhan, Joint Drugs Controller (India), Central Drugs Standard Control Organisation (HQ), DGHS, Ministry of Health and Family Welfare, GOI, underlined the pivotal role of trust & credibility in the beauty and wellness industry. Focusing on regulatory collaboration, he highlighted the importance of growing the industry while ensuring quality standards and protocols for consumers. This practice can help products to pass the benchmark and reach more national and international markets.

Ayurveda is a medical system that is officially recognized in 24 countries throughout the Indian continent, according to Dr. Manoj Nesari, Advisor, Ministry of Ayush, Government of India. Products made from Ayurveda are exported to over 100 nations worldwide. To work with stakeholders and encourage outbound investments, we started the Startup India initiative, he added. Outside of India, yoga is becoming more and more popular, and the demand for therapies is increasing. To make it easier for foreigners to travel to India for yoga, therapeutic treatment, and wellness, Ayush Visa is introduced recently.

Recent reforms in BIS were discussed by Shri. Virendra Singh Scientist D, Member Technical Committee CHD 25, Bureau of Indian Standards highlighting the sustainability standards in the products. Modernization of Cosmetic Regulations is the need of the hour as wellness and beauty standards are evolving among consumers, he said.

Dr. Blossom Kochhar, Co-Chairperson ASSOCHAM National Wellness Council -Chairperson Aroma Magic Pvt. Ltd highlighted the symbiotic connection between lifestyle and beauty. She talked about the cosmetic industry’s shift towards Holistic wellness in enhancing outer beauty. To look good, one has to feel good from inside, she added.

Dr. Ravi Gandhi, Group President, and Chief Public Policy & Regulatory Officer Reliance Retail Ltd. and Reliance Jio Infocom Ltd talked about the current trends in the beauty and wellness industry that are sustainable, vegan and gender-neutral products that are cost-effective. Market players and startups designing product lines parallel to the rising notion of beauty to engage with the ever-growing consumer base are gaining a competitive advantage.

At the event, there was a felicitation ceremony where Bodyshop was named the Best Skin Care Product of the Year, NAT Habit was named the Best Natural/Organic Product of the Year, Marico Ltd was named the Best Hair Care Product of the Year, Hindustan Unilever Ltd was named the Best Body Care Product of the Year, and Konark Herbal and Healthcare Pvt Ltd was named the Best Manufacturer of Cosmetic Ingredients.

The beauty, Wellness & Personal Care Symposium concluded by Walk for Cause focused on the Livelihood of Weavers of India to promote the essence of synergy between Ayurveda and cosmetics in wellness led by Dr. Sanjana Jon, Film Maker, Social Activist, Motivational Speaker & International Fashion Designer.

New Delhi & Rajkot, , 19th Jan 2024: To further promote women-led business, the Mawadi University (MU) in-house startup incubator MUIIR and the MU Women’s Cell has collaborated with the CII- Indian Women Network to promote gender equity, on National Startup Day. The collaboration aims at developing an early startup and entrepreneurial mindset for female students keen to explore entrepreneurship, startup development and professionalizing their family businesses. The startup ecosystem in this regard has been a trailblazer, according to a 2023 WISER Report, currently 18% of India’s startups are women-led.

Marwadi University Centre of Innovation, Incubation and Research (MUIIR), incepted in 2017, has with its government and industry partners, including, NewGen IEDC, SSIP, GoI MoE Innovation Cell, already funded close to 135 startups, initiated 200 plus patents, and funded more than INR 5Cr to boost the startup ecosystem in Gujarat. The university has also set up the Centre for Entrepreneurship and Family Business, to aid students in professionalizing and scale family-led businesses.

“The Indian Women Network is committed to encourage contributions of women to India’s growth story,” said Niyati Shah, Vice President, Supack Industries and Co-Chairperson, CII Indian Women Network, Western Gujarat Zone. “We are happy to mark National Startup Day 2024 by promoting female-led innovation and entrepreneurship. The collaboration aims to inspire many more girls to choose the path of startups and entrepreneurship and thus be the growth engines of our Viksit Bharat@ 2047.” Foram Chandarana, Assistant Professor and Head of Marwadi University Women’s Cell, added that, “While significant strides have been made with the startup ecosystem generally employing a higher number of female workers than traditional corporate businesses, there is still a long way to go in order to ensure gender parity and workforce participation” added,

The gathering included interactive sessions and panel discussions by prominent female entrepreneurs, including, Anushkha Advani, Founder, of Studio, Paperheads, who advised students on developing an entrepreneurial mindset in design and branding; Neetu V Bansal, Business Coach & Mentor, Business Karya; Niyati Shah, VP , Supack Industries; Shruti Kushwah, Founder & CEO, Crealoons Innovations; Vaishali Parekh, Founder, Krish Consultancy; Ananya Maloo, Co-founder at Sharktank featured Nuutjob; Piyalee Chhatopadhyay, CBO, Goa Angel Network; Nisha Kotecha, Founder & CEO, InkDiVo & GloCal Co-working; Avani Nathwani, Gulab Oil & Foods; Fonal Pabari, Founder, DSL Foods; Shraddha Dev Pandya, Director, Dadaji Group of Companies; Pooja Siddhpura, Growth Enabler, Elecon Engineering Works, Khushi Harsora, Partner, Jupiter World Trade.

Prof. (Dr) Amit Sata, Associate Dean, Innovation and Entrepreneurship, at Marwadi University, said that, “If India is to become the third largest economy by 2030, significant strides will need to be made to promote female entrepreneurship. It’s imperative that we fast-track female progression in and tackle any impeding barriers to innovation and entrepreneurship.”

India, 19th January 2024  — Altimetrik, a pure-play digital business company, continues its growth in India by expanding business operations in Gurugram, India, with the inauguration of a new shared office space. The new shared office space in DLF Cyber City is a pivotal component of Altimetrik’s broader strategy to strengthen its foothold in key business centers. This represents the establishment of the company’s sixth office in India. The new facility is in line with the company’s successful hybrid work model and will cater to clients and employees in the region.

Partnered with several Fortune 100 clients, Altimetrik spans twenty-two global locations with six offices and over 80% workforce based in India. The company has been growing at a rapid pace with a dedicated team of over 6500 digital practitioners. India remains pivotal for the company in talent acquisition, playing a crucial role in delivering outcomes for the company’s expanding global client base across the BFSI/Fintech, Automotive/Manufacturing, Retail/CPG, and Pharma/Lifesciences sectors.

Commenting on the launch, Ranga Kanapathy, Chief Transformation Officer – APAC | Chief Delivery Officer said, “We are excited to start our new operations in Gurugram. With its vibrant business ecosystem and diverse talent pool, it is a strategic hub for Altimetrik’s continued growth in the Indian market. This is out 6th office in India and we are in the region’s rich talent resources. As we expand our footprint, we remain focused on our employee-centricity and commitment to deliver engineering excellence, innovation and growth to our clients.”

This expansion is a testament to Altimetrik’s continued growth and success in the Indian market. Clients can leverage Altimetrik’s expertise in digital innovation and technology solutions, ensuring a tailored approach to meet the evolving demands of diverse industries.

19th January 2024, Mumbai: Federal Bank has revised interest rates for both resident and Non-resident deposits with effect from 17th January 2024.

Interest Rate for 500 days is increased to 7.75% and 8.25 % for resident senior citizens.

The interest rate for non-withdrawable fixed deposits for 500 days is increased to 7.90% and for resident senior citizens, Federal Bank is now offering a maximum return of 8.40% for 500 days tenures

New Deposit Rates are as follows:

To know more about the rates for different tenures, please visit https://www.federalbank.co.in/deposit-rate

19th January 2024: Pride of Cows- Single Origin Milk brand of Parag Milk Foods renowned for its unwavering commitment to premium quality dairy products made a substantial donation of premium ghee to The Tirumala Tirupati Devasthanams (TTD). This noteworthy contribution supports TTD’s initiative to provide ‘Srivari’ laddus, each weighing 25 grams, for the consecration ceremony of the Ayodhya Ram Mandir. With a heritage of 300 years, ‘Srivari laddu’ prasad will be distributed among participating devotees and esteemed guests on 22nd January, this year.

“We are delighted to contribute our premium ghee to The Tirumala Tirupati Devasthanams for the consecration of the Ayodhya Ram Temple, which will enhance the preparation of Srivari’s laddus. This is a testament to our dedication towards heritage and a goodwill gesture to the devotees at the Ayodhya ‘Pran Pratishtha’ event”,” said Devendra Shah, Chairman at Parag Milk Foods.

The Ayodhya Ram Temple holds immense significance for millions of people, and Pride of Cows is honored to contribute high-quality ghee for the preparation of these laddus. This contribution reflects Pride of Cows’ commitment to giving back to the community and being an integral part of cultural celebration

Mumbai, 19th January 2024 : With emerging technologies transforming industries, upskilling has become the need of the hour. To help Indian professionals gain a competitive edge in this New Year by investing in themselves, Emeritus, a global pioneer in offering accessible and affordable high-quality education to individuals and organisations, has announced fee benefits for select upskilling programmes.

As the New Year ushers in new resolutions, upskilling stands among one of the most sought-after goals among Indians, marking a high demand for learning programmes. According to the Emeritus Global Workplace Skills Study 2023, which surveyed a total of 1,720 Indians aged between 21 and 65 years from across 20 tier-I and II cities in the country, education remains a top investment for Indians. About 82% of the Indians surveyed as part of the Study have displayed an increased interest in pursuing online education under the current macroeconomic conditions.

To serve this growing need to enhance skills, the fee benefits are aimed towards helping professionals kick off their learning journey in 2024 to gain new skills and knowledge they need for self-improvement and to thrive in the job market. The benefits can be accessed across select programmes in categories such as digital marketing, product management, and CXO programmes.

Announcing the initiative, Mohan Kannegal, CEO -India and APAC, Emeritus, said, “As Indians set out to achieve their New Year resolutions, we hope to enable them to unlock their full potential by investing in themselves. Our studies have shown how education remains a top priority for Indians. Through our partnerships with world-class educational institutions, these programmes offered by leading institutions will help professionals in future-proofing themselves. Being at the forefront of making high-quality education accessible and affordable at all, we at Emeritus are committed to empowering individuals to achieve their career goals and contributing to a robust future of work.”

The initiative addresses the need for 6 in every 10 global workers to undertake training before 2027 to stay relevant, as per the World Economic Forum’s ‘The Future of Jobs Report 2023’. The Global Workplace Skills Study 2023 by Emeritus also highlights that nearly 84% of Indians are relying on further education to give them an edge to compete better against their peers, while 86% admit that high-quality upskilling programmes can help them achieve their career-related goals. Under this context, the need for upskilling is currently being felt strongly across sectors and all career stages, including mid-career professionals to CXOs. Know more about the programme benefits -https://unlockyourpotential2024.partner.emeritus.org/

Bengaluru, 19th January 2024  ICT Academy, supported by PayPal, has launched the second iteration of the “Student Enablement Program” at KLE Society’s Degree College, Nagarbhavi, Bengaluru. This initiative aims to impart advanced IT skills to students, to benefit 3,400 students across engineering, arts, and science institutions in Tamil Nadu, Telangana, and Karnataka. The program specifically targets providing crucial development opportunities for women and underprivileged youth. Upon completion, it is anticipated that 70% of the participants will secure job placements in various IT companies.

The inauguration of this groundbreaking program took place at Vignana Bharathi Institute of Technology, Hyderabad, in the presence of over 500+ students.

ICT Academy (www.ictacademy.in) is an initiative of the Government of India in collaboration with the state Governments and Industries. ICT Academy is a not-for-profit society, the first of its kind pioneer venture under the Public-Private-Partnership (PPP) model that endeavors to train higher education teachers and students thereby exercising on developing the next-generation teachers and industry-ready students.

In a statement, Srividya Rajagopalan, Senior Director – Data Science, PayPal expressed, “Building on the success of our inaugural Student Enablement Program with ICT Academy in 2022, we’re proud to expand the initiative to impact 35% more students this year. Education can be crucial to breaking the poverty cycle for underrepresented groups and enabling a more inclusive community. As an innovator in the payments industry and a leading employer in India, we remain committed to enabling the success of women and underprivileged youth by strengthening their work readiness with industry-relevant skills building”.

Suresh Babu L, Associate Vice President of ICT Academy, emphasized, “Technology has become intrinsic to every business. As technology evolves rapidly, nurturing people’s skills becomes pivotal for employment and national economic growth. ICT Academy is steadfast in building a sustainable skill ecosystem from the grassroots level. We achieve this by collaborating with corporations, governments, and academia. Our partnership with PayPal signifies a leap towards serving deserving members of society. This program will enable disadvantaged students to gain expertise in the technologies of the fourth industrial revolution, widely adopted by industries worldwide.” Key features of the program include 140 hours of IT and professional skills training, upskilling 100 faculty members in advanced technologies to mentor students, assessments for trained students, certification, placement support, and additional skill enhancement activities for students.

Dr. Parvati Angadi, Coordinator – BCA of KLE Society’s Degree College, delivered the welcome address, emphasizing the significance of this partnership.

This renewed partnership between ICT Academy and PayPal is poised to create a lasting impact on underprivileged youth, equipping them with the requisite skills and knowledge to thrive in today’s competitive world.