Fintech Platform Rubique Raises Another Round of Funding from Japan's Recruit Group and Russia's Emery Capital

Breaking new grounds in the formal finance sector through innovative and dynamic use of technology, Rubique Technologies PVT LTD, India’s largest online financial matchmaking platform has raised an undisclosed amount funding led by Japan’s Recruit Group and Russian venture capital management company, Emery Capital. The funding round saw participation from Blacksoil & existing investor Kalaari Capital. The funds from this round will enable Rubique to further strengthen its technological and analytics capabilities. The company also aims to expand its credit product offerings to deepen its reach to small enterprises and reach out to underserved micro enterprises.

Established in the year 2014, Rubique has demonstrated how frugal innovation, propelled by disruptive technologies in the traditional lending space, can simplify complex financial procedures to fulfil every financial aspiration in the simplest, shortest and speediest way possible. Since its inception the company has already facilitated loan disbursement worth approximately Rs. 2,670 crores and over 82,000 credit card setups through its platform.

The involvement of Recruit Group and Emery Capital, both having an international expertise in facilitating adoption of newer technologies across sectors and geographies, as well as its existing investors, underlines the trust that Rubique has generated in the global market.

Speaking on the announcement, Manav Jeet, MD & CEO, Rubique said, “The success of the latest funding round is a strong indication of the trust our investors have in our vision, our technology-thinking of financial services as well as in our strong focus on robust unit economics model. We have managed to successfully stand out in the fintech space as an innovator par excellence and one of the genuine success stories of the domain through our unique asset light business model. With the domain expertise our investors bring on-board, we look forward to leveraging their insights as we build a leading platform for digital lending in India. We would also like to thank our existing investors for continuing to support us in our growth journey.”

Rubique claims to have recently closed 200K customers and have generated revenue of around $7.2 Mn (INR 47 Cr), clocking a revenue of around 3.5 Cr month on month. With a consistent growth, Rubique has been unit economics positive at the transactional level and will be aiming to breakeven in 2019 & going for Rs. 100 crores revenue by 2021.

The startup had earlier raised $3 million from Kalaari Capital and Apis Partners, in June last year, which was a bridge round. Prior to that, it has raised $3 million in Series A from YourNest Angel Fund, Kalaari and Globevestor. Rubique has raised over $10 million in funding to date, according to Crunchbase data.

Speaking on the fresh fund raise, Ivan Savelyev from Emery Capital said, “Rubique’s unique business model and technology thinking has an impressive ability to hit the ground running to build a financially strong nation with easy access to credit to all sectors of the society – Businesses and Millennials. We believe that the deployment of technology to develop scalable and accessible financial services platforms, incorporating big data analytics and machine learning, will be critical to any lending business serving the underbanked and underserved customers in India. We are committed to supporting Rubique on its journey to become a leading fintech player in India and also help and share our experience with similar models in other continents & explore synergies to work with them”

With the world constantly innovating, the advanced technologies such as Blockchain, Big Data and AI used by Rubique analyses multiple data points to assess the creditworthiness of the customers and provide them the offers they are eligible for, thereby removing the manual efforts in the loan processing system. The company has recently built a data science team which leverages its rich customer data and bank credit policies to build a proprietary AI based Matchmaking and ranking algorithm that provides a customized list to each consumer based on his/her needs and profile. This offers manifold advantages in terms of higher approval rates, better customer satisfaction and improved sourcing to its financial partners.

Eying the future growth of the company, Rubique envisions becoming the largest online financial matchmaking platform in India and aiming for entire ecosystem growth including customers, financial institutions & influencers. With focus on maintaining its model asset-light, Rubique is planning to invest in Data science & leverage insights generated to build stronger business propositions.

“Apart from this round we are also in the final stages of closing another tranche’ of funding, to be led by couple of marquee investors. We are excited about our next phase of growth and will continue to develop superior technology products for the ecosystem players thereby aiming to bring a symbiotic relationship between banks and technology, bridge India’s credit gap.” Jeet further added.

Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers. Headquartered in Tokyo, Japan, the Group offers a wide range of services in a variety of areas including human resources, education, housing and real estate, bridal, travel, automobiles, dining and beauty. The Group has more than 45,000 employees and operates in more than 60 countries. Earlier this year, Mumbai-Sunnyvale based CleverTap, a mobile app analytics startup, has raised an undisclosed sum from Recruit Group.

Speaking about Emery Capital, it is an early and growth-stage venture capital firm that backs visionary entrepreneurs around the globe. Our mission is working alongside entrepreneurs to give birth to new technologies and to grow those technologies into amazing, enduring companies.

Fintech Platform Rubique Raises Another Round of Funding from Japan's Recruit Group and Russia's Emery Capital

Breaking new grounds in the formal finance sector through innovative and dynamic use of technology, Rubique Technologies PVT LTD, India’s largest online financial matchmaking platform has raised an undisclosed amount funding led by Japan’s Recruit Group and Russian venture capital management company, Emery Capital. The funding round saw participation from Blacksoil & existing investor Kalaari Capital. The funds from this round will enable Rubique to further strengthen its technological and analytics capabilities. The company also aims to expand its credit product offerings to deepen its reach to small enterprises and reach out to underserved micro enterprises.

Established in the year 2014, Rubique has demonstrated how frugal innovation, propelled by disruptive technologies in the traditional lending space, can simplify complex financial procedures to fulfil every financial aspiration in the simplest, shortest and speediest way possible. Since its inception the company has already facilitated loan disbursement worth approximately Rs. 2,670 crores and over 82,000 credit card setups through its platform.

The involvement of Recruit Group and Emery Capital, both having an international expertise in facilitating adoption of newer technologies across sectors and geographies, as well as its existing investors, underlines the trust that Rubique has generated in the global market.

Speaking on the announcement, Manav Jeet, MD & CEO, Rubique said, “The success of the latest funding round is a strong indication of the trust our investors have in our vision, our technology-thinking of financial services as well as in our strong focus on robust unit economics model. We have managed to successfully stand out in the fintech space as an innovator par excellence and one of the genuine success stories of the domain through our unique asset light business model. With the domain expertise our investors bring on-board, we look forward to leveraging their insights as we build a leading platform for digital lending in India. We would also like to thank our existing investors for continuing to support us in our growth journey.”

Rubique claims to have recently closed 200K customers and have generated revenue of around $7.2 Mn (INR 47 Cr), clocking a revenue of around 3.5 Cr month on month. With a consistent growth, Rubique has been unit economics positive at the transactional level and will be aiming to breakeven in 2019 & going for Rs. 100 crores revenue by 2021.

The startup had earlier raised $3 million from Kalaari Capital and Apis Partners, in June last year, which was a bridge round. Prior to that, it has raised $3 million in Series A from YourNest Angel Fund, Kalaari and Globevestor. Rubique has raised over $10 million in funding to date, according to Crunchbase data.

Speaking on the fresh fund raise, Ivan Savelyev from Emery Capital said, “Rubique’s unique business model and technology thinking has an impressive ability to hit the ground running to build a financially strong nation with easy access to credit to all sectors of the society – Businesses and Millennials. We believe that the deployment of technology to develop scalable and accessible financial services platforms, incorporating big data analytics and machine learning, will be critical to any lending business serving the underbanked and underserved customers in India. We are committed to supporting Rubique on its journey to become a leading fintech player in India and also help and share our experience with similar models in other continents & explore synergies to work with them”

With the world constantly innovating, the advanced technologies such as Blockchain, Big Data and AI used by Rubique analyses multiple data points to assess the creditworthiness of the customers and provide them the offers they are eligible for, thereby removing the manual efforts in the loan processing system. The company has recently built a data science team which leverages its rich customer data and bank credit policies to build a proprietary AI based Matchmaking and ranking algorithm that provides a customized list to each consumer based on his/her needs and profile. This offers manifold advantages in terms of higher approval rates, better customer satisfaction and improved sourcing to its financial partners.

Eying the future growth of the company, Rubique envisions becoming the largest online financial matchmaking platform in India and aiming for entire ecosystem growth including customers, financial institutions & influencers. With focus on maintaining its model asset-light, Rubique is planning to invest in Data science & leverage insights generated to build stronger business propositions.

“Apart from this round we are also in the final stages of closing another tranche’ of funding, to be led by couple of marquee investors. We are excited about our next phase of growth and will continue to develop superior technology products for the ecosystem players thereby aiming to bring a symbiotic relationship between banks and technology, bridge India’s credit gap.” Jeet further added.

Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers. Headquartered in Tokyo, Japan, the Group offers a wide range of services in a variety of areas including human resources, education, housing and real estate, bridal, travel, automobiles, dining and beauty. The Group has more than 45,000 employees and operates in more than 60 countries. Earlier this year, Mumbai-Sunnyvale based CleverTap, a mobile app analytics startup, has raised an undisclosed sum from Recruit Group.

Speaking about Emery Capital, it is an early and growth-stage venture capital firm that backs visionary entrepreneurs around the globe. Our mission is working alongside entrepreneurs to give birth to new technologies and to grow those technologies into amazing, enduring companies.

In A Weird Cryptocurrency Clause, Venezuela Offers India 30% Discount On Crude Oil

Though India has put a near-ban on cryptocurrencies trading in the country, in what could be seen as dramatic incidence -- amid India's ban on cryptocurrencies -- South American country Venezuela, which has the largest oil reserves, and the eighth largest natural gas reserves in the world, and consistently ranks among the top ten world crude oil producers, has offered India a 30% discount on crude oil purchases. However, the discount will be applicable only if India uses the country’s new cryptocurrency Petro, which was recently launched in February this year.

Petro is claimed to be backed by Venezuela's oil and mineral reserves purportedly as a means of circumventing U.S. sanctions and accessing international financing. Petro was also launched in order to supplement the country's currency - bolívar fuerte, which in rapidly decreasing in terms of value.

According to a report, a team of experts from Venezuela’s blockchain department was in India last month, and as per sources, they have entered into a pact with Coinsecure, a Delhi-based bitcoin trading firm, to sell Petro in India.

It is in that discussion during the India tour, the CEO of Coinsecure, Mohit Kalra said that Venezuela proposed the idea of offering India at least 30 per cent discount on crude oil purchases through Petro. “They are going to different countries and making offers.", said Kalra.

The offer that they have given to the Indian government is -- you buy Petro and we will give you a 30% discount on oil purchases", Kalra said.

According to multiple sources, Petro has already raised more than $3.8 billion, with interests from more than 127 countries during the pre-sale. Kalra said Venezuela wanted to host a conference in India where its President Nicolas Maduro would have pitched for Petro. Based on the deal, Coinsecure is also providing them with White Label exchange solutions — all cryptocurrency players who want to trade in Venezuela will have to trade on that exchange. “That would be run by their brand name, but the back-end will be us. We plan to provide them with 10-15 cryptocurrency players,” Kalra said.

Put on a pre-sale on February 20, Petro is the world’s first state-backed cryptocurrency tied to the South American country’s oil reserves. Many see this as the safest cryptocurrency, as Venezuela has the world’s largest oil reserves of 300 billion barrels. The world’s largest oil producer, Saudi Arabia, is a distant second, with 266 billion barrels of oil reserves.

The white paper of Petro initially stated that the cryptocurrency would be on the Ethereum platform, though later on the launch date the white paper was changed and the platform was to be with NEM, a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.

Although its a notable offer for India but one thing to keep in mind is that last month the US President Donald Trump has signed an executive order prohibiting transactions in any Venezuelan government-issued cryptocurrency by a United States person or within the United States.

Speaking about India, the Modi-led government in the country isn’t giving up on the idea of a virtual currency completely. In line with central banks around the globe, the RBI too is mulling introducing a fiat digital currency called 'Lakshmi' coin, which would become an alternative to the Indian rupee for digital transactions, and unlike bitcoin which is a non-fiat digital currency, the new one will be fiat-cryptocurrency.

[Top Image - ETHNews.com]

In A Weird Cryptocurrency Clause, Venezuela Offers India 30% Discount On Crude Oil

Though India has put a near-ban on cryptocurrencies trading in the country, in what could be seen as dramatic incidence -- amid India's ban on cryptocurrencies -- South American country Venezuela, which has the largest oil reserves, and the eighth largest natural gas reserves in the world, and consistently ranks among the top ten world crude oil producers, has offered India a 30% discount on crude oil purchases. However, the discount will be applicable only if India uses the country’s new cryptocurrency Petro, which was recently launched in February this year.

Petro is claimed to be backed by Venezuela's oil and mineral reserves purportedly as a means of circumventing U.S. sanctions and accessing international financing. Petro was also launched in order to supplement the country's currency - bolívar fuerte, which in rapidly decreasing in terms of value.

According to a report, a team of experts from Venezuela’s blockchain department was in India last month, and as per sources, they have entered into a pact with Coinsecure, a Delhi-based bitcoin trading firm, to sell Petro in India.

It is in that discussion during the India tour, the CEO of Coinsecure, Mohit Kalra said that Venezuela proposed the idea of offering India at least 30 per cent discount on crude oil purchases through Petro. “They are going to different countries and making offers.", said Kalra.

The offer that they have given to the Indian government is -- you buy Petro and we will give you a 30% discount on oil purchases", Kalra said.

According to multiple sources, Petro has already raised more than $3.8 billion, with interests from more than 127 countries during the pre-sale. Kalra said Venezuela wanted to host a conference in India where its President Nicolas Maduro would have pitched for Petro. Based on the deal, Coinsecure is also providing them with White Label exchange solutions — all cryptocurrency players who want to trade in Venezuela will have to trade on that exchange. “That would be run by their brand name, but the back-end will be us. We plan to provide them with 10-15 cryptocurrency players,” Kalra said.

Put on a pre-sale on February 20, Petro is the world’s first state-backed cryptocurrency tied to the South American country’s oil reserves. Many see this as the safest cryptocurrency, as Venezuela has the world’s largest oil reserves of 300 billion barrels. The world’s largest oil producer, Saudi Arabia, is a distant second, with 266 billion barrels of oil reserves.

The white paper of Petro initially stated that the cryptocurrency would be on the Ethereum platform, though later on the launch date the white paper was changed and the platform was to be with NEM, a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.

Although its a notable offer for India but one thing to keep in mind is that last month the US President Donald Trump has signed an executive order prohibiting transactions in any Venezuelan government-issued cryptocurrency by a United States person or within the United States.

Speaking about India, the Modi-led government in the country isn’t giving up on the idea of a virtual currency completely. In line with central banks around the globe, the RBI too is mulling introducing a fiat digital currency called 'Lakshmi' coin, which would become an alternative to the Indian rupee for digital transactions, and unlike bitcoin which is a non-fiat digital currency, the new one will be fiat-cryptocurrency.

[Top Image - ETHNews.com]

In An Inter-Accelerator Partnership Pune-based EduGild Ties With US-based Impact Investor Gray Matters Capital

Pune based EDUGILD, India’s first edtech startup accelerator promoted by Maharashtra Institute of Technology (MIT) and Avantika University as Knowledge Partners, today announced that it has entered into a strategic partnership with US-based impact investor Gray Matters Capital.

Gray Matters Capital recently launched GMC Calibrator – a six month blended accelerator program focused on enhancing user engagement and improving product monetization of mobile apps and digital platforms of organizations in the ‘Learning to Earning’ space.

What’s the Partnership all about?

• Through this ‘inter-accelerator’ partnership, EDUGILD and Gray Matters Capital’s GMC Calibrator will look to create and nurture a pipeline of ‘investment-worthy’ enterprises in the edtech sector. These entities will have the potential for scale as well as higher impact in terms of promoting self-learning, improving learning outcomes, employability and bridging of gender gaps - both in education and the workforce.



• Besides collaborating to facilitate institutional partners for advisory, mentoring and scaleup, both EDUGILD and Gray Matters Capital aspire to jointly select and curate education and skilling enterprises for their respective accelerator programs.



• Cross promotional opportunities to showcase solutions of cohort members of both accelerator programs to each other’s network including but not limited to access to revenue enhancement opportunities



• The India based enterprises of the EDUGILD cohort will be considered for investment evaluation by Gray Matters Capital and its network of co-investors and funds.



• The cohort of GMC Calibrator will be able to access the canvas of education institutions under the MIT group and their other partner institutions comprising over 80,000 students in the KG to PG spectrum for product testing and piloting of technology led solutions.

Throwing light on the significance of this partnership, Rishi Kapal, CEO, EDUGILD said, “Our partnership with Gray Matters Capital is based on a common vision that we share of Edtech being a catalyst to change the education paradigm in India. This inter-accelerator partnership entailing joint application sourcing, access to mentors, product testing right up to unlocking funding opportunities will help in building a robust edtech sector in India."

Since its launch in June 2015, the global edtech accelerator has benefited 24 startups across 5 cohorts by providing access to sales and go-to-market opportunities, product lifecycle management support, organisation development inputs, UI/UX maturity, PR strategy, coworking spaces, Investor Relations and global scale-up opportunities. EDUGILD has partners in UK, Israel, China, Japan and ANZ for access to their companies.

“As impact investors, it is equally important for us to nurture the ecosystem. While we have many early stage enterprises in the edtech space in India, not many of them are able to attract investor interest,” said Ragini Chaudhary, India CEO, Gray Matters Capital. She added, “This partnership with EDUGILD is an attempt to scout for those edtech enterprises with break through solutions that can benefit the mass market, especially those women and girls in the lower-income groups. The product testing and piloting opportunities that the cohort of the GMC Calibrator can avail will be priceless”

In India, Gray Matters Capital has invested in for-profit education ventures with a focus on access to affordable quality education and on employability leading to a future job ready workforce with 21st century skills. It is the anchor investor in CBA Capital’s Education Catalyst Fund.

Based in Pune, EDUGILD is a global edtech startup accelerator which offers intensive mentorship and product realization program to EdTech start-ups around the world. Participants with creative, technology-based solutions to improve and enhance the learning experience in any field are welcome to apply.

In January 2017, EDUGILD expanded its global footprint when it partnered with JMDedu of China and Edtech Israel of Israel to enhance the number of Indian startups who would like to expand horizons in China, Israel and likewise.

Gray Matters Capital (GMC) is an Atlanta based impact investor with a mission to support "An education leading to a more purposeful life for 100 million women by 2036." In India, it invests in for-profit education ventures with a focus on access to affordable quality education and on employability leading to a future job ready workforce with 21st century skills. Investments in education focused funds; enterprises with break through solutions in education with its edLABS initiative; building markets through ecosystem development and providing value beyond capital through portfolio management constitute the key focus areas of its India strategy.

In An Inter-Accelerator Partnership Pune-based EduGild Ties With US-based Impact Investor Gray Matters Capital

Pune based EDUGILD, India’s first edtech startup accelerator promoted by Maharashtra Institute of Technology (MIT) and Avantika University as Knowledge Partners, today announced that it has entered into a strategic partnership with US-based impact investor Gray Matters Capital.

Gray Matters Capital recently launched GMC Calibrator – a six month blended accelerator program focused on enhancing user engagement and improving product monetization of mobile apps and digital platforms of organizations in the ‘Learning to Earning’ space.

What’s the Partnership all about?

• Through this ‘inter-accelerator’ partnership, EDUGILD and Gray Matters Capital’s GMC Calibrator will look to create and nurture a pipeline of ‘investment-worthy’ enterprises in the edtech sector. These entities will have the potential for scale as well as higher impact in terms of promoting self-learning, improving learning outcomes, employability and bridging of gender gaps - both in education and the workforce.



• Besides collaborating to facilitate institutional partners for advisory, mentoring and scaleup, both EDUGILD and Gray Matters Capital aspire to jointly select and curate education and skilling enterprises for their respective accelerator programs.



• Cross promotional opportunities to showcase solutions of cohort members of both accelerator programs to each other’s network including but not limited to access to revenue enhancement opportunities



• The India based enterprises of the EDUGILD cohort will be considered for investment evaluation by Gray Matters Capital and its network of co-investors and funds.



• The cohort of GMC Calibrator will be able to access the canvas of education institutions under the MIT group and their other partner institutions comprising over 80,000 students in the KG to PG spectrum for product testing and piloting of technology led solutions.

Throwing light on the significance of this partnership, Rishi Kapal, CEO, EDUGILD said, “Our partnership with Gray Matters Capital is based on a common vision that we share of Edtech being a catalyst to change the education paradigm in India. This inter-accelerator partnership entailing joint application sourcing, access to mentors, product testing right up to unlocking funding opportunities will help in building a robust edtech sector in India."

Since its launch in June 2015, the global edtech accelerator has benefited 24 startups across 5 cohorts by providing access to sales and go-to-market opportunities, product lifecycle management support, organisation development inputs, UI/UX maturity, PR strategy, coworking spaces, Investor Relations and global scale-up opportunities. EDUGILD has partners in UK, Israel, China, Japan and ANZ for access to their companies.

“As impact investors, it is equally important for us to nurture the ecosystem. While we have many early stage enterprises in the edtech space in India, not many of them are able to attract investor interest,” said Ragini Chaudhary, India CEO, Gray Matters Capital. She added, “This partnership with EDUGILD is an attempt to scout for those edtech enterprises with break through solutions that can benefit the mass market, especially those women and girls in the lower-income groups. The product testing and piloting opportunities that the cohort of the GMC Calibrator can avail will be priceless”

In India, Gray Matters Capital has invested in for-profit education ventures with a focus on access to affordable quality education and on employability leading to a future job ready workforce with 21st century skills. It is the anchor investor in CBA Capital’s Education Catalyst Fund.

Based in Pune, EDUGILD is a global edtech startup accelerator which offers intensive mentorship and product realization program to EdTech start-ups around the world. Participants with creative, technology-based solutions to improve and enhance the learning experience in any field are welcome to apply.

In January 2017, EDUGILD expanded its global footprint when it partnered with JMDedu of China and Edtech Israel of Israel to enhance the number of Indian startups who would like to expand horizons in China, Israel and likewise.

Gray Matters Capital (GMC) is an Atlanta based impact investor with a mission to support "An education leading to a more purposeful life for 100 million women by 2036." In India, it invests in for-profit education ventures with a focus on access to affordable quality education and on employability leading to a future job ready workforce with 21st century skills. Investments in education focused funds; enterprises with break through solutions in education with its edLABS initiative; building markets through ecosystem development and providing value beyond capital through portfolio management constitute the key focus areas of its India strategy.

Bengaluru-based EV Cab Startup Lithium Urban To Raise $8 Mn from Wold Bank's IFC

Bengaluru-based Lithium Urban Technologies (Lithium), a electric vehicle (EV) cab provider to corporate sector, has roped in International Finance corporation (IFC) for proposed $8 million investment for an equity. IFC, which is World Bank's investment arm, offers investment, advisory and asset-management services to encourage private-sector development in developing countries.

Lithium, which currently provides electric cab services to corporate customers in Bengaluru and Delhi NCR, plans to expand its operations in other part of the country, apart from entering other businesses in electric mobility, which are currently being piloted.

IFC’s investment is part of the startup’s fund-raising round with additional capital being provided by other investors to expand the footprint. IFC is considering an equity or quasi equity type of investment in the company. The investment will be through Compulsorily Convertible Preference Shares (CCPS) as part of the company's fund-raising round.

Founded in 2014 by Sanjay Krishnan, who is also the founder of early-2000's internet startup India.com, Lithium provides business critical corporate employee transportation (CET) to blue chip companies in information technology (IT) and IT enabled services (ITES) sector by providing a fleet of electric vehicles. The company was incorporated in October 2014 and began operations in July 2015.

Lithium, which has raised $5 million in debt and equity so far, currently has a fleet of about 350 electric vehicles and is planning to expand the fleet in line with market demand. It currently has operations in Bengaluru and NCR and has plans to expand to Pune, Hyderabad, and Chennai. The startup follows an asset model under which it buys its vehicles and provides transportation services to its clients through drivers.

Besides offering corporate employee transportation service through EVs, Lithium also offers DC-fast charging infrastructure and integrated fleet management technology to companies with large employee base and predictable travel schedules. Lithium plans to enter other business in electric mobility, which are currently being piloted.

Moreover, the EV startup has signed an agreement with the government to provide 60 electric chargers across the Delhi-NCR region for public use, for which it will get financial assistance from the government. The company now wants to add to this infrastructure and is working on partnerships with private players to achieve this end.

Coming back to IFC's investment in Lithium, the disclosure document mentioned that IFC’s involvement with the project will help Lithium adopt a structured framework to manage its social and environmental systems which will act as a benchmark for a sector that is serviced by largely unorganised players.

IFC will help Lithium to develop corporate governance standards. Lithium is in the process of scaling up operations and IFC’s investment at this stage will provide the company with patient capital needed for the growth phase as it explores new avenues for EV applications.

Electric Mobility Activities in India

Earlier this month, India's automobile major Mahindra's EV subsidiary Mahindra Electric started deploying a fleet of 100 units of its small electric car Mahindra e2o in Delhi to be available to consumers on rent in partnership with Bengaluru-based self-drive car rental firm Zoomcar.

In this same month, a Mumbai-based startup called Strom Motors has unveiled an electric car that would cost mere ₹3 lakh. The electric car however is of compact segment and unlike other e-cars has three wheels instead of four.

In January, IndianWeb2 reported that Hriman Motors, a Delhi-based startup, is working on building a 2-Seater electric car which one can rent for 50 Paise per kilometer. The electric car will have a battery that will never need to be replaced and will be IoT-enabled. The car is expected to launch in mid of this year.

A draft of India’s 10-year energy blueprint has revealed that the government is expecting as much as 57 percent of the country’s total electricity capacity to come from non-fossil fuel sources by the year 2027 -- a significant increase over the India's Paris agreement targets, which has asked the member countries to reach 40 percent non-fossil fuel electricity by the year 2030.

Last May, Indian government established policy think tank, Niti Aayog, released a report called Transformative Mobility Solutions for India wherein it revealed India's plan for electric cars and charging stations infrastructure.

In the same month, India’s home-grown cab hailing firm, Ola had launched - Ola Electric, India’s first multi-modal electric platform that includes electric autos, cars, and buses in Nagpur. Ola and Mahindra have had partnered with the Government of India in a first-of- its-kind programme to build an electric mass mobility ecosystem in Nagpur which will bring about a transformational change in the automotive and transportation landscape in the country.

The above news was first reported in Financial Express.

Bengaluru-based EV Cab Startup Lithium Urban To Raise $8 Mn from Wold Bank's IFC

Bengaluru-based Lithium Urban Technologies (Lithium), a electric vehicle (EV) cab provider to corporate sector, has roped in International Finance corporation (IFC) for proposed $8 million investment for an equity. IFC, which is World Bank's investment arm, offers investment, advisory and asset-management services to encourage private-sector development in developing countries.

Lithium, which currently provides electric cab services to corporate customers in Bengaluru and Delhi NCR, plans to expand its operations in other part of the country, apart from entering other businesses in electric mobility, which are currently being piloted.

IFC’s investment is part of the startup’s fund-raising round with additional capital being provided by other investors to expand the footprint. IFC is considering an equity or quasi equity type of investment in the company. The investment will be through Compulsorily Convertible Preference Shares (CCPS) as part of the company's fund-raising round.

Founded in 2014 by Sanjay Krishnan, who is also the founder of early-2000's internet startup India.com, Lithium provides business critical corporate employee transportation (CET) to blue chip companies in information technology (IT) and IT enabled services (ITES) sector by providing a fleet of electric vehicles. The company was incorporated in October 2014 and began operations in July 2015.

Lithium, which has raised $5 million in debt and equity so far, currently has a fleet of about 350 electric vehicles and is planning to expand the fleet in line with market demand. It currently has operations in Bengaluru and NCR and has plans to expand to Pune, Hyderabad, and Chennai. The startup follows an asset model under which it buys its vehicles and provides transportation services to its clients through drivers.

Besides offering corporate employee transportation service through EVs, Lithium also offers DC-fast charging infrastructure and integrated fleet management technology to companies with large employee base and predictable travel schedules. Lithium plans to enter other business in electric mobility, which are currently being piloted.

Moreover, the EV startup has signed an agreement with the government to provide 60 electric chargers across the Delhi-NCR region for public use, for which it will get financial assistance from the government. The company now wants to add to this infrastructure and is working on partnerships with private players to achieve this end.

Coming back to IFC's investment in Lithium, the disclosure document mentioned that IFC’s involvement with the project will help Lithium adopt a structured framework to manage its social and environmental systems which will act as a benchmark for a sector that is serviced by largely unorganised players.

IFC will help Lithium to develop corporate governance standards. Lithium is in the process of scaling up operations and IFC’s investment at this stage will provide the company with patient capital needed for the growth phase as it explores new avenues for EV applications.

Electric Mobility Activities in India

Earlier this month, India's automobile major Mahindra's EV subsidiary Mahindra Electric started deploying a fleet of 100 units of its small electric car Mahindra e2o in Delhi to be available to consumers on rent in partnership with Bengaluru-based self-drive car rental firm Zoomcar.

In this same month, a Mumbai-based startup called Strom Motors has unveiled an electric car that would cost mere ₹3 lakh. The electric car however is of compact segment and unlike other e-cars has three wheels instead of four.

In January, IndianWeb2 reported that Hriman Motors, a Delhi-based startup, is working on building a 2-Seater electric car which one can rent for 50 Paise per kilometer. The electric car will have a battery that will never need to be replaced and will be IoT-enabled. The car is expected to launch in mid of this year.

A draft of India’s 10-year energy blueprint has revealed that the government is expecting as much as 57 percent of the country’s total electricity capacity to come from non-fossil fuel sources by the year 2027 -- a significant increase over the India's Paris agreement targets, which has asked the member countries to reach 40 percent non-fossil fuel electricity by the year 2030.

Last May, Indian government established policy think tank, Niti Aayog, released a report called Transformative Mobility Solutions for India wherein it revealed India's plan for electric cars and charging stations infrastructure.

In the same month, India’s home-grown cab hailing firm, Ola had launched - Ola Electric, India’s first multi-modal electric platform that includes electric autos, cars, and buses in Nagpur. Ola and Mahindra have had partnered with the Government of India in a first-of- its-kind programme to build an electric mass mobility ecosystem in Nagpur which will bring about a transformational change in the automotive and transportation landscape in the country.

The above news was first reported in Financial Express.

Startup Fund of Funds: DIPP Unhappy with SIDBI For Slow Pace of Disbursement

Earlier this month, a report by a Parliamentary Standing Committee on Commerce said that the Department of Industrial Policy and Promotion (DIPP) could utilize only 0.4% of Rs 10 crore that were allocated to it for the promotion of StartUp India scheme in 2017-18. Prior to this, it was reported that on Feb 6, only 99 startups have been funded as compared with a total of 6,981 startups recognised by the DIPP.

Now, as the committee's report questioned DIPP for this poor utilization of funds, DIPP in turn is now blaming Small Industries Development Bank of India (SIDBI) for slow pace of disbursement to startups.

According to Indian Express report -- citing a government official, DIPP has been repeatedly asking SIDBI for the past one year to consider steps imperative to increase off-take of funds. DIPP has asked SIDBI to take necessary actions such as change in the manner funds are disbursed so that the funds are disbursed at much faster pace.

According to a senior government official cited in the report, "For the past one year, in all the meetings of the monitoring committee for the Startup India scheme, we have been asking SIDBI to consider taking steps that can increase offtake of funds. The previous monitoring committee meeting took place on December 4 last year where it was suggested that SIDBI should consider changing the manner and methods in which they are disbursing the amount under the scheme, so that a greater offtake can take place."

At first -- it was reported on March 31 2017 that only Rs 33.63 crore was disbursed to 62 startups. DIPP then expressed that there's an improvement in the allocation and disbursement, and on April this year, it said that this year SIDBI has committed Rs 1,136 crore to 25 venture capital (VC) funds, who, in turn, have invested Rs 569 crore in 120 startups.

"A significant amount of disbursement to startups has been done in the past couple of months after feedback was taken from VC funds on lower offtake. The DIPP has set targets to facilitate and support 1000 startups by March 2019", added the official.

However, last month, the Parliamentary Standing Committee on Commerce expressed concerns about the “huge gap” that exists between the number of startups that have received funding and tax exemptions and the number of startups that have been officially recognised.

Asking the DIPP to furnish reasons for the lag in funding recognised startups, the committee suggested DIPP to “take concerted measures to ensure genuine entrepreneurs are provided all the support to flourish and create jobs”.

Moreover, a meeting held in December last year by Startup India scheme's monitoring committee stated that DIPP expressed concern at the under-utilisation and slow pace of disbursement of funds. The committee also suggested that SIDBI should consider changing the manner and methods in which they are disbursing the amount under the scheme, so that a greater offtake can take place.

The minutes of meeting of the monitoring committee also mentioned that, “DIPP asked SIDBI to highlight challenges and consider steps (change in the manner of utilization) that could be taken to allow greater offtake of funds.”

Notably, this is not the first time when inefficacy of StartUp India scheme has been revealed, where it was again observed that the much hyped initiative is not yielding the desired outcome as promised three years back when it was announced by Prime Minister Narendra Modi in August 2015 to develop an ecosystem to galvanize entrepreneurship across the country, through income tax benefits, easy bank financing and lesser compliance burden.

The Start-Up India campaign has recently completed 2 years of its launch on January 16, 2018. According to the latest report, (till 28 February 2018) some 5,350 startups have been recognized in the country with over 40,000 employees working in these startups. Surprisingly, the report said that th worst is that the agency that was designated by the Centre to disburse funds to startups has released only Rs 337 crore out of Rs 600 crore to only 75 start-ups in 2 years.

[Top Image - Source]

Startup Fund of Funds: DIPP Unhappy with SIDBI For Slow Pace of Disbursement

Earlier this month, a report by a Parliamentary Standing Committee on Commerce said that the Department of Industrial Policy and Promotion (DIPP) could utilize only 0.4% of Rs 10 crore that were allocated to it for the promotion of StartUp India scheme in 2017-18. Prior to this, it was reported that on Feb 6, only 99 startups have been funded as compared with a total of 6,981 startups recognised by the DIPP.

Now, as the committee's report questioned DIPP for this poor utilization of funds, DIPP in turn is now blaming Small Industries Development Bank of India (SIDBI) for slow pace of disbursement to startups.

According to Indian Express report -- citing a government official, DIPP has been repeatedly asking SIDBI for the past one year to consider steps imperative to increase off-take of funds. DIPP has asked SIDBI to take necessary actions such as change in the manner funds are disbursed so that the funds are disbursed at much faster pace.

According to a senior government official cited in the report, "For the past one year, in all the meetings of the monitoring committee for the Startup India scheme, we have been asking SIDBI to consider taking steps that can increase offtake of funds. The previous monitoring committee meeting took place on December 4 last year where it was suggested that SIDBI should consider changing the manner and methods in which they are disbursing the amount under the scheme, so that a greater offtake can take place."

At first -- it was reported on March 31 2017 that only Rs 33.63 crore was disbursed to 62 startups. DIPP then expressed that there's an improvement in the allocation and disbursement, and on April this year, it said that this year SIDBI has committed Rs 1,136 crore to 25 venture capital (VC) funds, who, in turn, have invested Rs 569 crore in 120 startups.

"A significant amount of disbursement to startups has been done in the past couple of months after feedback was taken from VC funds on lower offtake. The DIPP has set targets to facilitate and support 1000 startups by March 2019", added the official.

However, last month, the Parliamentary Standing Committee on Commerce expressed concerns about the “huge gap” that exists between the number of startups that have received funding and tax exemptions and the number of startups that have been officially recognised.

Asking the DIPP to furnish reasons for the lag in funding recognised startups, the committee suggested DIPP to “take concerted measures to ensure genuine entrepreneurs are provided all the support to flourish and create jobs”.

Moreover, a meeting held in December last year by Startup India scheme's monitoring committee stated that DIPP expressed concern at the under-utilisation and slow pace of disbursement of funds. The committee also suggested that SIDBI should consider changing the manner and methods in which they are disbursing the amount under the scheme, so that a greater offtake can take place.

The minutes of meeting of the monitoring committee also mentioned that, “DIPP asked SIDBI to highlight challenges and consider steps (change in the manner of utilization) that could be taken to allow greater offtake of funds.”

Notably, this is not the first time when inefficacy of StartUp India scheme has been revealed, where it was again observed that the much hyped initiative is not yielding the desired outcome as promised three years back when it was announced by Prime Minister Narendra Modi in August 2015 to develop an ecosystem to galvanize entrepreneurship across the country, through income tax benefits, easy bank financing and lesser compliance burden.

The Start-Up India campaign has recently completed 2 years of its launch on January 16, 2018. According to the latest report, (till 28 February 2018) some 5,350 startups have been recognized in the country with over 40,000 employees working in these startups. Surprisingly, the report said that th worst is that the agency that was designated by the Centre to disburse funds to startups has released only Rs 337 crore out of Rs 600 crore to only 75 start-ups in 2 years.

[Top Image - Source]

5 Tips To Understanding Bitcoin Loopholes

Bitcoin is the world’s oldest cryptocurrency and digital payment system. Since its inception in 2009, Bitcoin has generated tons of interest among people. In the last few years, the price of the Bitcoin has risen exponentially. To investors, this Bitcoin boom is irresistible.

However, the value of bitcoin is so volatile. As a trader keeping up with the day to day price swings of cryptocurrencies can be frustrating. Fortunately, there is a solution; the Bitcoin Loophole system also known as Bitcoin secret Loophole. This revolutionary cryptocurrency trading software is just what you need to make informed decisions and generate significant outcomes in only 24 hours of starting.

Let’s look at 5 key tips to understanding Bitcoin Loophole.

1. It Is An Automated Trading Software

One great aspect of the bitcoin loophole is the auto-traded mode that allows you to make money effortlessly. If you are a newbie, the autopilot feature will be of great help since it allows you trade without too much engagement. You will only need to ascertain a few settings manually and that’s it, the system will determine the investment for you.

A manual option is also available in this system. If you are an experienced trader who wishes to test his skills, this software allows you to make your own analyses and forecasts using the provided indicators.

2. It Is Highly Accurate

The bitcoin loophole is highly accurate and allows you to make profitable trades. Steve McKay, the owner, and developer of the bitcoin secret loophole created a system that works on complex algorithms and utilizes high-speed computers. High accuracy rates have been proven and Bitcoin loophole is one of the best systems available currently.

3. The Sign Up Is Absolutely Free

Bitcoin loophole is a free software. Yes, this software allows you to invest in bitcoins for free. You can obtain and access the bitcoin loophole without paying a dime. All you need to do is register by filling an online form and wait for a letter of confirmation which will be sent to your inbox. That’s all you need to get a free trading license. Apart from that, you will also get free training resources from the brokers that have partnered with bitcoin loophole.

4. Bitcoin Loophole Only Works With Legitimate Crypto Brokers

Bitcoin loophole only engages with genuine and top industry brokers. These brokers are completely trustworthy and the feedback from traders who have used this system is positive. Thus, you can trade with ease, having the assurance that all your money, financial and personal data are protected.

5. Bitcoin Loophole Is A Legit Cryptocurrency Software

Bitcoin loophole is not a scam. There are many trading systems in the market that are scam; Bitcoin loophole is not one of them. This system applies a complex financial theory to ensure that you get good and consistent results. Top experts in the trading industry have reviewed the system and have ascertained that there is no scam or shady connections associated with the Bitcoin Loophole.  

Conclusion

There you have it; 5 tips to understanding bitcoin loophole. Do you want to start cryptocurrency trading today? The Bitcoin Loophole Software is just what you need to generate a great return on investment. The top 10 Binary Demo has reviewed this software and guarantees you that it is safe and easy to use for new and professional users.

IOT and Impact on Smart Cities

A smart city is the outcome of the knowledge-based economy and accelerated development of the new age information technology. It is based on the combination of the Internet, broadcast network, a telecommunications network, wireless broadband, and other smart sensors with Internet of Things (IoT) at its heart. The chief feature of a smart city includes comprehensive utilization of information resources and a high degree of information technology integration. The essential elements of urban development for a smart city should consist of smart industry, smart technology, smart management, smart service, and smart life.

The IoT is about installing sensors such as laser scanners and GPS for tasks and connecting them to the internet via specific protocols for communication and information exchange. This is done to attain location, monitoring, tracking, management, and intelligent recognition in a city. A smart city needs to have three key features - interconnectedness, instrumented, and intelligent, and this can be achieved with technical support from Internet of Things.

Read on to know more about the elements of a smart city and its impact in the IoT era.

1. Smart Infrastructure

The extensive market for smart urban infrastructure in smart cities includes smart parking, smart lighting, advanced connected streets, and other transportation innovations. Here is how they work:

• Smart Lighting: With the help of smart lighting, city authorities can keep a track on real-time use of lights to deliver demand-based lighting in several zones and optimize illumination. Smart lighting and smart ceiling fans also help in saving energy by turning down sectors with no inhabitants and daylight harvesting. For example, parking lots can be dimmed during work hours and automatically illuminate when a car enters.


• Connected Streets: Smart streets are apt for delivering services and information and acquiring data to and from several devices, which includes data about roadworks, traffic, and road blockages. IoT is the network used to connect all the devices to each other, and connected streets help in efficient management of people and resources to enhance urban landscape and public transportation.


• Smart Parking Management: IoT network and smart parking system can be used to find vacant spots for a vehicle at different public places. In-ground vehicle detection sensors are the technology used, which plays a key role in the smart parking programme that is transforming how drivers in the city centres and malls find an unoccupied parking spot. Wireless sensors are implanted into the parking space, which transmits information regarding the time and duration of the space used via signal processors into a central parking management application. Smart parking decreases vehicle emissions, reduces congestion, cuts driver stress, and lower enforcement cost. Each device needs to have constant connectivity to the cloud servers for effective implementation of smart parking technology.
  
  Related Reading - India To Use IoT for Waste Management


• Connected Charging Stations: Smart infrastructure should also include charging stations in parking lots, shopping malls, airports, city fleets, and bus stations across the city. Electric vehicle (EV) charging point can be integrated with IoT to streamline the function of charging and address the effect on the power grid.

2. Smart Buildings & Properties

Smart property utilizes different systems to ensure security and safety of the building, maintenance of resources, and overall good condition of the surrounding.

• Security & Safety Systems: Security and safety system include implementing biometrics, remote monitoring, surveillance cameras, and wireless alarms to reduce unauthorised access to buildings and the possibility of thefts. With the help of IoT, all the devices can be seamlessly connected, and can be accessed on your smartphone. Detecting people in non-authorized areas, stopping the access of restricted area on the property, and using perimeter access control is also a part of this security system.


• Sprinkler & Smart Garden System: Smart sprinkler system with connected technology can be used to water plants. On the other hand, smart garden devices can perform tasks such as helping the city authorities to save the water (smart sprinkler devices use weather information to stay off when it rains automatically), measure soil moisture and level of fertilizer, and lastly keep the grass from overgrowing with the help of robotic lawnmowers.


• Smart Ventilation & Heating: Smart ventilation and heating systems monitor several perimeters such as pressure, vibration, temperature, humidity of the property, and other public places such as historical monuments and movie theaters. With the help of wireless sensor network, the data is collected to optimize the HVAC (heating, ventilation, and air conditioning) system to improve their performance and efficiency in the buildings.

3. Smart Energy Management

Here’s how cities can practice smart energy management:

• Smart Grid: A smart grid is a self-healing, digitally monitored energy system that delivers gas or electricity from generation source. Smart grid solutions can be residential, industrial, or distribution and transmission projects. IoT solutions like gateways can be used to conserve energy at both transmission level and consumer level. For example, gateways can provide an in-depth summary of energy consumption to utility companies with real-time analytics and high connectivity. It also develops a demand-response system for the utility providers to strengthen energy distribution based on consumption level.


• Smart Meters: A smart meter can be used in industrial sectors and residential areas for gas and electricity expenditure where there is a need to determine real-time data on energy usage. Consumers and companies with smart meters can monitor their energy consumption. Additionally, energy reports, analytics, and public dashboards can be accessed over the internet via mobile applications connected with these smart meters.

The dynamic growth of the Internet of Things and Smart City create many engineering and scientific challenges that call for insightful research from both industry and academia, especially for the development of scalable, reliable, and efficient smart city based on IoT. With the help of a smart city, there is an enormous opportunity to modify the lives of people and improve the city operations and infrastructure. Connected technologies, smart sensor networks, and the IoT are the crucial solutions for smart city implementation.

The above is an authored content by Arindam Paul, who is a founding member of Atomberg Technologies, a startup working towards manufacturing unique energy efficient fans and tech savvy products. He is currently heading the Marketing and Long term strategy division at Atomberg and is aiming to disrupt the world of household appliances.

IOT and Impact on Smart Cities

A smart city is the outcome of the knowledge-based economy and accelerated development of the new age information technology. It is based on the combination of the Internet, broadcast network, a telecommunications network, wireless broadband, and other smart sensors with Internet of Things (IoT) at its heart. The chief feature of a smart city includes comprehensive utilization of information resources and a high degree of information technology integration. The essential elements of urban development for a smart city should consist of smart industry, smart technology, smart management, smart service, and smart life.

The IoT is about installing sensors such as laser scanners and GPS for tasks and connecting them to the internet via specific protocols for communication and information exchange. This is done to attain location, monitoring, tracking, management, and intelligent recognition in a city. A smart city needs to have three key features - interconnectedness, instrumented, and intelligent, and this can be achieved with technical support from Internet of Things.

Read on to know more about the elements of a smart city and its impact in the IoT era.

1. Smart Infrastructure

The extensive market for smart urban infrastructure in smart cities includes smart parking, smart lighting, advanced connected streets, and other transportation innovations. Here is how they work:

• Smart Lighting: With the help of smart lighting, city authorities can keep a track on real-time use of lights to deliver demand-based lighting in several zones and optimize illumination. Smart lighting and smart ceiling fans also help in saving energy by turning down sectors with no inhabitants and daylight harvesting. For example, parking lots can be dimmed during work hours and automatically illuminate when a car enters.


• Connected Streets: Smart streets are apt for delivering services and information and acquiring data to and from several devices, which includes data about roadworks, traffic, and road blockages. IoT is the network used to connect all the devices to each other, and connected streets help in efficient management of people and resources to enhance urban landscape and public transportation.


• Smart Parking Management: IoT network and smart parking system can be used to find vacant spots for a vehicle at different public places. In-ground vehicle detection sensors are the technology used, which plays a key role in the smart parking programme that is transforming how drivers in the city centres and malls find an unoccupied parking spot. Wireless sensors are implanted into the parking space, which transmits information regarding the time and duration of the space used via signal processors into a central parking management application. Smart parking decreases vehicle emissions, reduces congestion, cuts driver stress, and lower enforcement cost. Each device needs to have constant connectivity to the cloud servers for effective implementation of smart parking technology.
  
  Related Reading - India To Use IoT for Waste Management


• Connected Charging Stations: Smart infrastructure should also include charging stations in parking lots, shopping malls, airports, city fleets, and bus stations across the city. Electric vehicle (EV) charging point can be integrated with IoT to streamline the function of charging and address the effect on the power grid.

2. Smart Buildings & Properties

Smart property utilizes different systems to ensure security and safety of the building, maintenance of resources, and overall good condition of the surrounding.

• Security & Safety Systems: Security and safety system include implementing biometrics, remote monitoring, surveillance cameras, and wireless alarms to reduce unauthorised access to buildings and the possibility of thefts. With the help of IoT, all the devices can be seamlessly connected, and can be accessed on your smartphone. Detecting people in non-authorized areas, stopping the access of restricted area on the property, and using perimeter access control is also a part of this security system.


• Sprinkler & Smart Garden System: Smart sprinkler system with connected technology can be used to water plants. On the other hand, smart garden devices can perform tasks such as helping the city authorities to save the water (smart sprinkler devices use weather information to stay off when it rains automatically), measure soil moisture and level of fertilizer, and lastly keep the grass from overgrowing with the help of robotic lawnmowers.


• Smart Ventilation & Heating: Smart ventilation and heating systems monitor several perimeters such as pressure, vibration, temperature, humidity of the property, and other public places such as historical monuments and movie theaters. With the help of wireless sensor network, the data is collected to optimize the HVAC (heating, ventilation, and air conditioning) system to improve their performance and efficiency in the buildings.

3. Smart Energy Management

Here’s how cities can practice smart energy management:

• Smart Grid: A smart grid is a self-healing, digitally monitored energy system that delivers gas or electricity from generation source. Smart grid solutions can be residential, industrial, or distribution and transmission projects. IoT solutions like gateways can be used to conserve energy at both transmission level and consumer level. For example, gateways can provide an in-depth summary of energy consumption to utility companies with real-time analytics and high connectivity. It also develops a demand-response system for the utility providers to strengthen energy distribution based on consumption level.


• Smart Meters: A smart meter can be used in industrial sectors and residential areas for gas and electricity expenditure where there is a need to determine real-time data on energy usage. Consumers and companies with smart meters can monitor their energy consumption. Additionally, energy reports, analytics, and public dashboards can be accessed over the internet via mobile applications connected with these smart meters.

The dynamic growth of the Internet of Things and Smart City create many engineering and scientific challenges that call for insightful research from both industry and academia, especially for the development of scalable, reliable, and efficient smart city based on IoT. With the help of a smart city, there is an enormous opportunity to modify the lives of people and improve the city operations and infrastructure. Connected technologies, smart sensor networks, and the IoT are the crucial solutions for smart city implementation.

The above is an authored content by Arindam Paul, who is a founding member of Atomberg Technologies, a startup working towards manufacturing unique energy efficient fans and tech savvy products. He is currently heading the Marketing and Long term strategy division at Atomberg and is aiming to disrupt the world of household appliances.

5 Tips for Investing Your Retirement in Ethereum

Since time immoral, thousands of books and millions of articles have been published to guide different classes of employees to smart retirement investing. As much as retirement investing might be the last idea hitting one’s mind in the early employment years, starting as early as possible can significantly play an advantage.

The biggest question to every retirement investors is certainly, “where should I put my retirement money to accrue interest over time?” As cryptocurrencies quickly become mainstream means of transaction and digital assets, Ethereum, the second largest cryptocurrency by market capitalization, could be just one of your options. Outlined are various tips on how to invest in the virtual crypto for your retirement:

ICOs are a hub of opportunities, but beware of scammers

The most distinguishing factor about Ethereum's blockchain is its ability to facilitate smart contracts. Consequently, many startups are leveraging Ethereum’s technology to lobby for resources through Initial Coin offerings (ICOs). ICOs can be likened to the traditional Initial Public Offerings (IPOs), with the major differences lying in the tight rules and regulations associated with the latter. Additionally, ICOs are privileged to a wider scope of investors compared to IPOs.

Whereas some excellent ICOs such as IOTA come with heavily rewarding returns, there are other ICOs that are out to exploit investors of their hard-earned cash. You, therefore, have to keenly scrutinize an ICO’s white paper, the team behind it, among other details before coming up with a final decision of staking your retirement money.

Buy and sell Ethereum using trading bots

Trading Ethereum for other cryptocurrencies can be a profitable venture if the odds work in your favor. This, however, requires a lot of your time in observing the market trends before executing trades. The good news is that you could take advantage of trading bots such as investing with the Ethereum code to automatically recognize market trends and execute trades in your favor 24/7. As an investor, you should be able to distinguish between well and poorly engineered trading bots to maximize on profits and abate losses.

Utilize Ethereum Investment Trusts

In case you are well conversant with traditional investment options whose principles you would like to deploy on Ethereum as a retirement investment, you can take advantage of Ethereum Investment Trusts that give investors the access to Ethereum through traditional methods of investments hence eliminating the hustles of trading and safely storing Ethereum.

Only invest what you can afford to lose

As you invest in Ethereum for your retirement, it is important that you wisely execute your asset allocation. Cryptocurrencies are really a volatile kind of investment as they constantly and sharply fluctuate in value. They can beat their all-time high at one particular hour, and fall to their lowest exchange rates in several hours or days. As an investor, you should, therefore, be prudent enough to stake a portion of your retirement money that you can afford to lose.

Diversity is key to minimizing risks

Finally, rather than secure all your Ethereum  investments under one umbrella, you could spread them on different portfolios such as ICOs, trading bots, and Ethereum Investment Trusts. This minimizes the risk of losing on your investments in case of failure on one platform while at the same time increasing your chances of making reaping big.

Startups Compulsively Hiring Foreign Pros Due To Outdated, AI-Absent Syllabus of Indian Colleges

India is facing dearth of homegrown professional with knowledge of Artificial Intelligence (AI), machine learning, Robotics, Big Data and even UI/UX (user interface/user experience). And, due to this very fact Indian startups are looking for talents abroad as they are facing a big demand-supply mismatch in India, reported Economic Times.

While some of the startups are trying to hire talent from foreign markets such as the US, Europe and China, most are scouting for Indian professionals with an international stint or a global degree to improve cost efficiency.

According to Industry experts, roles in data science and data engineering are not typically part of the curriculum of Indian colleges.

Besides poor availability of talent in futuristic technologies such as AI, gamification, robotics and healthcare, what have triggered foreign professional hiring drive are increasing global presence of startups and the need to understand various countries' markets. Hence, these companies are either hiring foreign professionals or those Indians who wish to return to India.

A director of recruitment firm told the business daily, “With technology driving the future of startups, they have no choice but to scout for global talent (mostly Indians who want to return) or get people with global exposure or those who may have studied in schools abroad.”

The ratio of the number of people to jobs in deep learning is 0.53, while for machine learning it’s 0.63 and for NLP it’s 0.71. Only 4 per cent of AI (Artificial Intelligence) professionals in India have worked on cutting-edge technologies such as deep learning and neural networks, the key ingredients in building advanced AI-related solutions, said Rishabh Kaul, co-founder of recruitment startup Belong.

Nykaa, a Mumbai-based beauty e-tailing startup, has as many as 22 members in its 80-people business and marketing team which have come back to India from the US and Europe.

Logistics startup Rivigo, Ronnie Screwvala's online education and training service providers UpGrad and Simplilearn, are among startups looking to hire talent abroad. Rivigo, for example, looks to build “India’s best technology and AI team” this year, according to its cofounder Gazal Kalra.

But despite of the fact that there's shortage of such new-age professionals in India, Indian startups more interested in hiring Indian professionals nevertheless because the availability of such global talent is tougher and their salaries are higher. A similar talent in the US/western world coming to India would be 30-50 per cent costlier than what’s available in India.

However, there's a hope for solution to this problem in coming years as in his budget speech in February, finance minister of India had announced that the government will launch a national programme on AI and doubled the budget allocation for Digital India — the government’s main initiative for promoting AI, machine learning and other innovations — to Rs 3,073 crore for this year.

Present & Upcoming AI Institutes and Universities in India

In February, Prime Minister Narendra Modi launched the Wadhwani Institute for Artificial Intelligence (Wadhwani AI) , which is said to be the first research institute in India that is dedicated towards finding artificial intelligence (AI) solutions for social good.

In the same month, it was announced that India’s first Artificial Intelligence (AI) University would be set up at  Amaravati, Andhra Pradesh with the support of Finland government. The upcoming AI University will train youngsters on the latest technologies to make a mark all over the world.

In the same month, Maharashtra state government had announced that it will be setting up India's first AI centre in Mumbai. US-based software giant Adobe Systems has also announced that it will be setting up an artificial intelligence centre in Hyderabad.

In September 2017, Karnataka state government had too announced that Bengaluru will soon have India’s first multi-faceted artificial intelligence and robotics centre to established in IIIT-Bengaluru campus.

Last August, IBM has opened of its first Machine Learning (ML) Hub in India, its fifth in the world. The hub, located in Bengaluru, is a physical space for organizations to visit for hands-on training on ML. Prior to that, tech giant Google too launched AI Studio, globally to foster & nurture machine learning startups worldwide.

[Top image source]

In A First, India To Develop Blockchain Platform for E-Governance; IIT-K To Design Architecture Worth $5 Mn

Governments across globe are exploring and experimenting blockchain usage on multiple governance issues. In India, state such as Karnataka, Gujarat and Maharashtra, have started evaluating the technology for purposes of e-governance, and in this Telangana and Andhra Pradesh are leading the race with both looking to move government data to blockchains within a few months.

In a latest development in adopting blockchain in India, a $5 million blockchain project has been commissioned by central cybersecurity agency of India. Notably, this is the first attempt in India to design and develop a blockchain platform for e-governance and to integrate the various applications in it.

National Cyber Security Coordinator (NCSC) has engaged Indian Institute of Technology, Kanpur (IIT-K) to develop an indigenous blockchain architecture -- amounting $5 million (₹34.4 Crore ) -- to be used in e-governance. The project has been commissioned by the Office of the NCSC and noted cybersecurity expert Gulshan Rai is currently holding the post of the National Cyber Security Coordinator.

IIT-K professors Manindra Agrawal and Sandeep Shukla of the Department of Computer Science & Engineering are the principal investigators, who would work in collaboration with IIT Madras professor Shweta Agrawal on the project.

Additionally, a company would be incubated at IIT Kanpur to transfer the technology into the product.

Generally, blockchain is defined as a distributed ledger that maintains a continually growing list of publicly accessible records cryptographically secured from tampering and revision. It is believed to create a persistent, immutable, and ever-growing public ledger that can be updated (i.e., by appending information using cryptographic digital signatures) to represent the latest state of a blockchain. It was originally used to record historical transactions of encrypted digital currencies such as Bitcoin.

For transparent e-governance, blockchain is now being adopted by quite a few countries including Estonia, UAE, Australia and UK. Estonia is often cited as a shining example of forward-thinking blockchain development, particularly in the sphere of government. In 2016, Estonia successfully implemented blockchain-powered e-voting in one of its stock exchange.

The above news was first reported in Business Standard.

Blockchain Adoption in India

Last October, Andhra Pradesh became the first state in the India to pilot blockchain technology in two departments - land records and transport. The state launched pilot projects based on blockchain technology for land records and transport.

Few days back, New York-based blockchain startup Consensys, which is founded by Joseph Lubin, who is the co-founder of the Ethereum, has signed a nonbinding agreement with Niti Aayog, a govt. of India's policy think tank, to make blockchain prototypes across healthcare, education, land registry, supply chain, and more.

In this month only, Kerala Blockchain Academy (KBA) of Kerala state-run Indian Institute of Information Technology & Management has become the first Indian Institution to get membership of Hyperledger Project, an open source collaborative effort created to advance cross-industry blockchain technologies.

Also, India’s first blockchain-based network went live last week, when three online bill-discounting exchange platforms came together and implemented a solution for their operations to deter fraud, in this month only.

Last year, we covered a story on how the blockchain is invading financial institutions like banks and electronic voting systems in several countries, including India.

In A First, India To Develop Blockchain Platform for E-Governance; IIT-K To Design Architecture Worth $5 Mn

Governments across globe are exploring and experimenting blockchain usage on multiple governance issues. In India, state such as Karnataka, Gujarat and Maharashtra, have started evaluating the technology for purposes of e-governance, and in this Telangana and Andhra Pradesh are leading the race with both looking to move government data to blockchains within a few months.

In a latest development in adopting blockchain in India, a $5 million blockchain project has been commissioned by central cybersecurity agency of India. Notably, this is the first attempt in India to design and develop a blockchain platform for e-governance and to integrate the various applications in it.

National Cyber Security Coordinator (NCSC) has engaged Indian Institute of Technology, Kanpur (IIT-K) to develop an indigenous blockchain architecture -- amounting $5 million (₹34.4 Crore ) -- to be used in e-governance. The project has been commissioned by the Office of the NCSC and noted cybersecurity expert Gulshan Rai is currently holding the post of the National Cyber Security Coordinator.

IIT-K professors Manindra Agrawal and Sandeep Shukla of the Department of Computer Science & Engineering are the principal investigators, who would work in collaboration with IIT Madras professor Shweta Agrawal on the project.

Additionally, a company would be incubated at IIT Kanpur to transfer the technology into the product.

Generally, blockchain is defined as a distributed ledger that maintains a continually growing list of publicly accessible records cryptographically secured from tampering and revision. It is believed to create a persistent, immutable, and ever-growing public ledger that can be updated (i.e., by appending information using cryptographic digital signatures) to represent the latest state of a blockchain. It was originally used to record historical transactions of encrypted digital currencies such as Bitcoin.

For transparent e-governance, blockchain is now being adopted by quite a few countries including Estonia, UAE, Australia and UK. Estonia is often cited as a shining example of forward-thinking blockchain development, particularly in the sphere of government. In 2016, Estonia successfully implemented blockchain-powered e-voting in one of its stock exchange.

The above news was first reported in Business Standard.

Blockchain Adoption in India

Last October, Andhra Pradesh became the first state in the India to pilot blockchain technology in two departments - land records and transport. The state launched pilot projects based on blockchain technology for land records and transport.

Few days back, New York-based blockchain startup Consensys, which is founded by Joseph Lubin, who is the co-founder of the Ethereum, has signed a nonbinding agreement with Niti Aayog, a govt. of India's policy think tank, to make blockchain prototypes across healthcare, education, land registry, supply chain, and more.

In this month only, Kerala Blockchain Academy (KBA) of Kerala state-run Indian Institute of Information Technology & Management has become the first Indian Institution to get membership of Hyperledger Project, an open source collaborative effort created to advance cross-industry blockchain technologies.

Also, India’s first blockchain-based network went live last week, when three online bill-discounting exchange platforms came together and implemented a solution for their operations to deter fraud, in this month only.

Last year, we covered a story on how the blockchain is invading financial institutions like banks and electronic voting systems in several countries, including India.

5 Tips for Online Trading Novices

Trading online can be quite challenging especially if you are doing it for the first time. Many people are usually very skeptic about online trading because of the stories they read about the risks which are involved in online trading. However, online trading is not as risky as most people paint it to be if you have the right advice. Online trading can be very rewarding and can become a full time career. If you are looking to trade online, here is advice for online trading that you need.

1. Start Small
   
   When you are a novice looking to trade online, it’s always advisable to start small. This means that you should not stat by investing a lot of money on the online trading platform that you choose. The reason for this is you need to start small and gradually grow as you gain more experience. The common online trading can be trading in stock or even in cryptocurrency; it’s important to start with small amounts and build your online investment over time.

2. Know the risks
   
   Just like in any other business, when you are trading or investing in online trading you need to know the risk. The reason for this is that you know the online trading which present high risk and those which are less risky. Knowing the risk will help you anticipate and decide the risk which you are willing to take and the one which you are not comfortable taking. Another reason as to why you need to know about the risk is so that you can know the ways which you can reduce such risks.

3. Choose the right broker
   
   In online trading when you are a novice in most cases you many need someone to guide you on how to trade.  A broker is the person you will help you learn the ropes of online trading, once you have mastered all the aspects of online trading you may opt to do it on your own. It’s important to choose the right broker; this is the broker who will take care of your investment. There are many investment brokers out there so it’s important to take time to decide who the best is.  You can start by checking their portfolio and their track record.

4. Be Patient
   
   Online trading require carefully calculation and anticipation, you do not have to trade every single day if there is nothing which favors you. Expert online traders do not trade every day, they take time to observe the market and determine when it’s most favorable to trade and how much to trade with.

5. Trade with what you can afford to lose
   
   As mentioned online trading can be risky at times and when you are trading then you should do it with the amount which you can afford to lose. You need to set aside the amount which you will be using to trade online with. This is the amount which you can afford to lose as it's not money saved for other things like retirement.

First of Its Kind Women Entrepreneurship Program Focused on Energy Business Announced By DFID India, Shell Foundation and Zone Startups

The Department for International Development (DFID) India and Shell Foundation in partnership with Zone Startups India announced the POWERED Entrepreneurship program. This is a first of its kind program, globally, to nurture and support women entrepreneurs building ventures in the energy value chain. The programme invites applications from women entrepreneurs building innovative growth and early-stage companies with disruptive technologies and business model innovations.

The POWERED programme aims to address today’s economic problems related to energy access, and tomorrow’s opportunities by empowering women entrepreneurs thereby addressing several of the 17 Sustainable Development Goals.

Interestes women entrepreneurs in energy business can apply for the program here.

The other partners to the program include Department of Science and Technology (Government of India), Microsoft and HDFC Bank.

“At Shell Foundation, we believe integrating gender-inclusion strategies leads to better performing businesses. Women entrepreneurs have limited access to blend of early-stage support and capital they require to grow sustainably. This program is a unique opportunity to create an enabling ecosystem to nurture and support women entrepreneurs innovating in the energy value chain through products and business models,” says Sam Parker, Director, Shell Foundation.

“The UK’s department for international development has always put girls and women at the heart of all its interventions. DFID's Strategic Vision for Girls and Women has set out to achieve ambitious targets enhancing the economic empowerment of girls and women in developing countries by helping 18 million women to access financial services, and 4.5 million women to strengthen their property rights. The key channels through which girls and women can become economically empowerment include work (employment, enterprise and livelihoods), access to financial services and other economic resources, vocational and technical skills and training and social protection for the poorest and most vulnerable. The wider environment is also critical, both in terms of a formal institutions such as a conducive investment climate and informal institutions such as supportive social and cultural norms,” says DFID India spokesperson.

Uniquely set-up as a hybrid program that comprises an accelerator program, a series of bootcamps, workshops, industry engagements and a community of women entrepreneurs; POWERED seeks to select up to 30 entrepreneurs in two cohorts. The program aims to work with a wider set of entrepreneurs in the energy access space through bootcamps and a community network, to reach a larger number of women entrepreneurs in the energy access sector.

Zone Startups India will provide end-to-end program management of POWERED.

Established in India in 2014, Zone Startups has been at the forefront of startup and entrepreneurship programs in India. Starting with a first program, Zone Startups India, in partnership with BSE Institute and Department of Science and Technology, has gone onto establish corporate accelerators and innovation programs with leading partners such as Barclays, Axis Bank, Kerala Startup Mission, Lodha Group, Visa, EY India, Viacom18, HDFC Bank and ICICI Lombard in a short span.

“This partnership with Shell Foundation and DFID India is something unique and exciting for us,” says Ajay Ramasubramaniam, Director (India), Zone Startups. “Shell Foundation is a global leader enabling access to energy and economic growth. We have had good success working with women entrepreneurs through our flagship initiative empoWer. Now, with Shell Foundation bringing in their knowledge and deep-domain expertise in the energy access domain, and we bringing in our ability to identify and onboard strong women entrepreneurs, POWERED is a very compelling program for women entrepreneurs building ventures in the energy access vertical. It is all the more exciting for us, as through this initiative, we have broadened our focus to work with tech and non-tech entrepreneurs,” he adds.

Modelled on the successful format of empoWer, POWERED will comprise of a 6-week residential accelerator program that will open-up industry connects for the cohort, in addition to mentorship, professional services, access to investors, entrepreneurial connect and networking opportunities.

Additionally, some of the selected startups will also be eligible to get a $10,000 grant funding from the program, which will allow them to cover costs during the accelerator phase; as well as incur operating expenses. Post accelerator phase, the selected entrepreneurs will be eligible for Shell Foundation’s investment committee to evaluate the metrics for possible grant investments. All startups accepted into the program, automatically get to access Zone Startups network of accelerators, resources and partnerships.

Shell Foundation and Zone Startups India will be conducting roadshows in Mumbai, Bangalore, Ahmedabad, Chennai, Shillong, Dehradun and Delhi to talk about the benefits of the program, and engage local entrepreneurs with the leadership team at Shell Foundation. The program will accept applications until 18th June 2018, with the launch of the cohort in July 2018.

Speaking about Zone Startups, it is a leading global technology accelerator, and early stage investment fund, with multiple accelerator programs and entrepreneurship initiatives across Canada, India and Vietnam. In India, the flagship program is Zone Startups India, established in 2014 as a partnership between Ryerson Futures Inc. and BSE Institute; partly funded by Department of Science & Technology, GOI. Since then, in India, Zone Startups has also lent its program set-up and management expertise to leading corporates such as Lodha Group, EY, Visa, Viacom18, Thomson Reuters, Barclays, KSUM, Publicis, CapGemini, Axis Bank and ICICI Lombard to name a few. Zone Startups India also operates empoWer, India’s only tech accelerator for women entrepreneurs.

In February, Zone Startups has been chosen by the Canadian Government and Indian Government to establish a new bi-lateral program to support entrepreneurs from both countries, through a market access program. The program is jointly funded by respective ministries from Canada and India, under the aegis of the Canada-India S&T Agreement.

Zone Startups India also recently completed 5-years of its annual Next Big India Contest; wherein it identifies 5 hi tech Indian startups through a competitive application process, and provides them with a market access trip to Canada. In the past 5 years, 27 companies have benefited from this initiative, and some notable names include CitrusPay, Konotor, Shield Square, Maya App, AdSparx, Vidooly etc.

This month, US Embassy had too launched the Nexus Startup Hub at the American Center in Delhi, with emphasis on women entrepreneurship.

Speaking about DFID, it is a United Kingdom government department responsible for administering overseas aid. The goal of the department is "to promote sustainable development and eliminate world poverty". DFID is headed by the United Kingdom's Secretary of State for International Development.

[Top Image - Sintesistv.com.mx]