GNFC Becomes First in India To Use Blockchain Tech with NITI Aayog

NITI Aayog and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) on June 29, 2018, signed a Statement of Intent (SoI) to use blockchain technology in fertilizer subsidy disbursal and management.

As per the SoI, the two bodies will work towards implementing a Proof-of-Concept (PoC) application by using the blockchain technology to disburse fertilizer subsidy among farmers, which is touted as the first time in India.

Approximately Rs 70,000 crore of subsidy is disbursed to manufacturing units every year for selling around 31 million MT of fertilisers below cost.

Though last but farmers will also be benefited as the use of blockchain in the process will bring transparency and transactions cannot be altered and digital fraud can be altered.

Notably, as the subsidy disbursal takes two to three months' time, the implementation of Blockchain Technology will ensuure that the distribution will become effective and efficient, and subsidy transfer could be automated and made real time.

According to the media report, GNFC and NITI Aayog will jointly develop the use case, undertake research, interact with multiple stakeholders, develop blockchain solutions, exchange learnings, organise forums, and disseminate learnings across their networks.

Learnings, insights and outcomes of the PoC will enable NITI Aayog to suggest policy recommendations and actions in strengthening the subsidy mechanism, making it more transparent and immune to leakages.

The overall implementation ensures that there is no dependence on intermediary agencies to prove the validity of transactions and resulting subsidy claims.

The upcoming blockchain based process within GNFC will also use smart contracts which will enable quick and accurate reconciliation of transactions between multiple parties with minimal human intervention.

Last year in February, Indian consumer electrical equipment manufacturing company Bajaj Electricals, has had also started using blockchain technology and smart contracts, for paying its suppliers.

In the same month, Mahindra Group and IBM had announced they are co-developing a cloud-based blockchain application that has the potential to reinvent supply chain finance across India.

Recently, India's telecom regulator TRAI (Telecom Regulatory Authority of India) also intended to utilize blockchain technology to curb pesky & irritating telemarketing spam calls.

It may also be recalled that India’s first blockchain-based network went live in April, when three online bill-discounting exchange platforms came together and implemented a solution for their operations to deter fraud.

Last October, Andhra Pradesh became the first state in the India to pilot blockchain technology in two departments - land records and transport.

Last year, we reported how blockchain is invading financial institutions like banks as well as electronic voting systems in several countries, including India.

Source - Press Information Bureau

[Top Image - CorporateEthos.com]

GNFC Becomes First in India To Use Blockchain Tech with NITI Aayog

NITI Aayog and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) on June 29, 2018, signed a Statement of Intent (SoI) to use blockchain technology in fertilizer subsidy disbursal and management.

As per the SoI, the two bodies will work towards implementing a Proof-of-Concept (PoC) application by using the blockchain technology to disburse fertilizer subsidy among farmers, which is touted as the first time in India.

Approximately Rs 70,000 crore of subsidy is disbursed to manufacturing units every year for selling around 31 million MT of fertilisers below cost.

Though last but farmers will also be benefited as the use of blockchain in the process will bring transparency and transactions cannot be altered and digital fraud can be altered.

Notably, as the subsidy disbursal takes two to three months' time, the implementation of Blockchain Technology will ensuure that the distribution will become effective and efficient, and subsidy transfer could be automated and made real time.

According to the media report, GNFC and NITI Aayog will jointly develop the use case, undertake research, interact with multiple stakeholders, develop blockchain solutions, exchange learnings, organise forums, and disseminate learnings across their networks.

Learnings, insights and outcomes of the PoC will enable NITI Aayog to suggest policy recommendations and actions in strengthening the subsidy mechanism, making it more transparent and immune to leakages.

The overall implementation ensures that there is no dependence on intermediary agencies to prove the validity of transactions and resulting subsidy claims.

The upcoming blockchain based process within GNFC will also use smart contracts which will enable quick and accurate reconciliation of transactions between multiple parties with minimal human intervention.

Last year in February, Indian consumer electrical equipment manufacturing company Bajaj Electricals, has had also started using blockchain technology and smart contracts, for paying its suppliers.

In the same month, Mahindra Group and IBM had announced they are co-developing a cloud-based blockchain application that has the potential to reinvent supply chain finance across India.

Recently, India's telecom regulator TRAI (Telecom Regulatory Authority of India) also intended to utilize blockchain technology to curb pesky & irritating telemarketing spam calls.

It may also be recalled that India’s first blockchain-based network went live in April, when three online bill-discounting exchange platforms came together and implemented a solution for their operations to deter fraud.

Last October, Andhra Pradesh became the first state in the India to pilot blockchain technology in two departments - land records and transport.

Last year, we reported how blockchain is invading financial institutions like banks as well as electronic voting systems in several countries, including India.

Source - Press Information Bureau

[Top Image - CorporateEthos.com]

Zone Startups India Launches 6th Edition of Next BIG Idea Contest for Indian Startups Looking To Enter Canada

The "Silicon Valley", for several years now, has retained its charm with aspiring startups and entrepreneurs, globally - all seeking growth, glory and striking gold. However, it has increasingly become difficult for startups from elsewhere, and with little connects, to access the U.S market. More importantly so, it is difficult to access talent, funding, customers etc

Often referred to as 'Silicon Valley North', Canada and its tech ecosystem has been there for much longer than some of the other startup hotbeds. From the first ATM machine being deployed in the 1960's to more recently being home to tech companies such as Nortel and BlackBerry, which spurred several offshoots in the aftermath of them going down; to more recent and large success stories such as OpenText, Shopify, Wave, Kik, Wattpad, Thalmic Labs, 500px and HootSuite.

Over the past 5 years, the Indian startup ecosystem has multiplied ginomorously. More startups are building for the global markets, and many of them aspire a beachhead in North America. This has brought about a need for a market access program that can help easing a startup into a new market, by leveraging established connections.

Zone Startups is the global brand of tech accelerators operated by Toronto based Ryerson Futures Inc., with large operations in Canada and India.

The Next BIG Idea Contest is an annual feature of Zone Startups India's ecosystem development activities, that engages the pan-India startup ecosystem stakeholders, and seeking to discover India's 5 most hi-tech and high-potential startups that are looking to leverage a soft-landing opportunity in Canada as a gateway to North America. The selected startups get access to a bespoke market access program includes mentorship, industry connects, investor meetings and a great international exposure. The contest was launched in 2013, as a joint initiative of Zone Startups India and Government of Ontario, Canada. Over the years, several other partners have come onbaord, and this year it includes Global Affairs Canada, Government of British Columbia and Government of Alberta.

Related - 6 Winning Indian Tech Startups of Next Big Idea Contest 2016 By Zone Startups and Govt. of Ontario, Canada

"Seeing the Canadian and Indian startup ecosystem simultaneously and closely, we could see a natural fit and an opportunity to be an enabler. I'd call the Next BIG Idea Contest our gateway to India, as the 1st edition was launched right after we announced our India market entry. Today, being an established and leading tech accelerator in India, we see the annual Next BIG Idea Contest as our give-back to the ecosystem, by exposing a handful of startups to the Canadian ecosystem and fuelling their international aspirations and enabling the same" says Ajay Ramasubramaniam, Director (India), Zone Startups.

Over the past 5-years, the Next BIG Idea Contest roadshows have been to 16 startup hubs from across the country, and attracted over 1,700 applications, from which 27 startups have been soft-landed in major Canadian cities.

“It was very encouraging to see how numerous high quality grant/visa programs funded by Governments (Canadian Provinces) have been successfully utilized by worthy startups” says Soubhagya Sahoo, CEO & Co-Founder of Gray Routes who won the Next BIG Idea contest 2017 & participated in 2- weeks market access program in Canada last November.

The Next BIG Idea contest boasts of an illustrious alumni, that includes startups such as CitrusPay, Sokrati (selected in 2013 but, chose not to go in the midst of their funding round), Heckyl, Vidooly, ShieldSquare, Plackal, Flip Technologies, AdSparx, Konotor (acquired by FreshDesk), Data Resolve, Uncanny Vision, Gray Routes, Sequretek etc.

As an extension to Next BIG Idea contest, The Aditya Jha Entrepreneurship India Award was introduced in 2017 to recognize social entrepreneurs who have translated their innovative and impactful ideas into technology driven businesses. The award and a grant of INR 5 Lakhs is presented by Mr. Aditya Jha himself, an Indo-Canadian philanthropist & serial entrepreneur.

Jordan Reeves, Consul General of Canada says “Canada nurtures businesses that push the limits of technology. That’s why we’re world leaders in artificial intelligence. Canada is a country built on diversity that welcomes entrepreneurs from all over the world. Indian companies easily fit in and have instant access to markets in North America and Europe. We’re pleased to be partnering with Zone Startups on the Next Big Idea Competition and are excited about showcasing top Indian companies in Canada. Next Big Idea is one more example of the amazing support Zone Startups provides to Indian businesses.”

The next few weeks will see Zone Startups India host roadshows across 20 Indian cities, to launch the contest pan-India. Programs like Next BIG Idea contest allows a number of promising companies to understand the North American Market fit for their products when founders participate in roadshows, go through multiple rounds of selection process & speak to global jury members. The applications for the contest will be accepted online from 29th June 2018 till 15th September 2018.

In recent years, a lot of Indian Startups are now choosing Canada over the US due to later's visa uncertainty trouble, cracking the US immigration system nowadays has also become a very difficult task, a feat which only a lucky few are able to achieve. Canada has emerged as a popular immigration choice amongst Indian entrepreneurs after the US due to the clarity the country offers under its Canadian Startup Visa or SUV programme.

In February, Canadian Prime Minister Justin Trudeu along with his convoy visited India and this is when 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. Read - How Trump’s Stricter Visa Rules is Killing ‘Startup Dreams’ of Indian Entrepreneurs

Zone Startups India Launches 6th Edition of Next BIG Idea Contest for Indian Startups Looking To Enter Canada

The "Silicon Valley", for several years now, has retained its charm with aspiring startups and entrepreneurs, globally - all seeking growth, glory and striking gold. However, it has increasingly become difficult for startups from elsewhere, and with little connects, to access the U.S market. More importantly so, it is difficult to access talent, funding, customers etc

Often referred to as 'Silicon Valley North', Canada and its tech ecosystem has been there for much longer than some of the other startup hotbeds. From the first ATM machine being deployed in the 1960's to more recently being home to tech companies such as Nortel and BlackBerry, which spurred several offshoots in the aftermath of them going down; to more recent and large success stories such as OpenText, Shopify, Wave, Kik, Wattpad, Thalmic Labs, 500px and HootSuite.

Over the past 5 years, the Indian startup ecosystem has multiplied ginomorously. More startups are building for the global markets, and many of them aspire a beachhead in North America. This has brought about a need for a market access program that can help easing a startup into a new market, by leveraging established connections.

Zone Startups is the global brand of tech accelerators operated by Toronto based Ryerson Futures Inc., with large operations in Canada and India.

The Next BIG Idea Contest is an annual feature of Zone Startups India's ecosystem development activities, that engages the pan-India startup ecosystem stakeholders, and seeking to discover India's 5 most hi-tech and high-potential startups that are looking to leverage a soft-landing opportunity in Canada as a gateway to North America. The selected startups get access to a bespoke market access program includes mentorship, industry connects, investor meetings and a great international exposure. The contest was launched in 2013, as a joint initiative of Zone Startups India and Government of Ontario, Canada. Over the years, several other partners have come onbaord, and this year it includes Global Affairs Canada, Government of British Columbia and Government of Alberta.

Related - 6 Winning Indian Tech Startups of Next Big Idea Contest 2016 By Zone Startups and Govt. of Ontario, Canada

"Seeing the Canadian and Indian startup ecosystem simultaneously and closely, we could see a natural fit and an opportunity to be an enabler. I'd call the Next BIG Idea Contest our gateway to India, as the 1st edition was launched right after we announced our India market entry. Today, being an established and leading tech accelerator in India, we see the annual Next BIG Idea Contest as our give-back to the ecosystem, by exposing a handful of startups to the Canadian ecosystem and fuelling their international aspirations and enabling the same" says Ajay Ramasubramaniam, Director (India), Zone Startups.

Over the past 5-years, the Next BIG Idea Contest roadshows have been to 16 startup hubs from across the country, and attracted over 1,700 applications, from which 27 startups have been soft-landed in major Canadian cities.

“It was very encouraging to see how numerous high quality grant/visa programs funded by Governments (Canadian Provinces) have been successfully utilized by worthy startups” says Soubhagya Sahoo, CEO & Co-Founder of Gray Routes who won the Next BIG Idea contest 2017 & participated in 2- weeks market access program in Canada last November.

The Next BIG Idea contest boasts of an illustrious alumni, that includes startups such as CitrusPay, Sokrati (selected in 2013 but, chose not to go in the midst of their funding round), Heckyl, Vidooly, ShieldSquare, Plackal, Flip Technologies, AdSparx, Konotor (acquired by FreshDesk), Data Resolve, Uncanny Vision, Gray Routes, Sequretek etc.

As an extension to Next BIG Idea contest, The Aditya Jha Entrepreneurship India Award was introduced in 2017 to recognize social entrepreneurs who have translated their innovative and impactful ideas into technology driven businesses. The award and a grant of INR 5 Lakhs is presented by Mr. Aditya Jha himself, an Indo-Canadian philanthropist & serial entrepreneur.

Jordan Reeves, Consul General of Canada says “Canada nurtures businesses that push the limits of technology. That’s why we’re world leaders in artificial intelligence. Canada is a country built on diversity that welcomes entrepreneurs from all over the world. Indian companies easily fit in and have instant access to markets in North America and Europe. We’re pleased to be partnering with Zone Startups on the Next Big Idea Competition and are excited about showcasing top Indian companies in Canada. Next Big Idea is one more example of the amazing support Zone Startups provides to Indian businesses.”

The next few weeks will see Zone Startups India host roadshows across 20 Indian cities, to launch the contest pan-India. Programs like Next BIG Idea contest allows a number of promising companies to understand the North American Market fit for their products when founders participate in roadshows, go through multiple rounds of selection process & speak to global jury members. The applications for the contest will be accepted online from 29th June 2018 till 15th September 2018.

In recent years, a lot of Indian Startups are now choosing Canada over the US due to later's visa uncertainty trouble, cracking the US immigration system nowadays has also become a very difficult task, a feat which only a lucky few are able to achieve. Canada has emerged as a popular immigration choice amongst Indian entrepreneurs after the US due to the clarity the country offers under its Canadian Startup Visa or SUV programme.

In February, Canadian Prime Minister Justin Trudeu along with his convoy visited India and this is when 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. Read - How Trump’s Stricter Visa Rules is Killing ‘Startup Dreams’ of Indian Entrepreneurs

Govt Issues Guidelines To Encourage Startups Undertake Weapon & Military Development Projects

India's defence ministry has issued new rules for homegrown startups to take part in military projects in an attempt to encourage Indian startups undertake research projects to develop or upgrade weapon systems and in turn reduce imports in this field.

Under the new rules, startups recognised by the Department of Industrial Policy & Promotion (DIPP) under certain categories will automatically qualify to take part in specified defence projects. These categories range from aeronautics, nanotechnology and Virtual Reality to renewable technology, robotics, green technology and internet of things.

Between 2012 and 2016, India accounted for 13% of global arms & weapons imports and has been spending worth nearly $3.5 billion to boost its ageing Soviet era military equipment.

According to an ET report, the government has simplified rules for relatively smaller research and development projects has kept the project open to all Indian companies. It has done away with any regulations for participation.

“For projects with estimated cost of prototype development phase not exceeding Rs 3 crore, no separate technical or financial criteria (will) be defined for both ‘start-ups’ and ‘other than startups’, to encourage their participation,” the new rules specify.

With these rules specified, the three services will now shortlist projects that can be awarded under the category. The Army, Air Force and Navy have already identified 53 projects that can be taken up on priority under the rules. These include Maneuverable Expendable Aerial Targets (MEAT) for Army Air Defence, light weight body armour, a robotic surveillance platform, diesel engines for boats, limpet mines, air to ground rockets and long range glide bombs.

Also Read - India Wasting Money on Defence Budget While Future of War is Artificial Intelligence, Says Pakistan's Ex-Vice Admiral

Notably, the production of Indian defence equipments prior to 2011 was completely in the hands of the Government of India until in 2016 it opened up the Foreign direct investment (FDI) to 49% from the existing 26%.

New Defence Procurement Procedure (DPP) 2016 has a focus on achieving the "Make in India" vision by according topmost priority to 'Buy Indian - IDDM (Indian Designed, Developed and Manufactured)' and 'Buy (Indian)' categories.

There are several Indian startups & SMEs that cater to the Defense industry by supplying sub-assemblies and components and providing services like system integration. Under the Make in India initiative, these organizations are set to enhance their manufacturing and development efficiency, thereby contributing to making India self-reliant in defense production. Some of the system Integrators catering to the Defense sector in India are Mistral Solutions, Alpha Designs, Astra Microwave and SLN Technologies among others.

Also Read - Indian Defence Research Orgnization Boast To Develop Invisible Airplane

Numerous startups working in Medtech, artificial intelligence and Virtual reality/Augmented Reality are even helping Indian army and defence personnels.

In January this year, Axio Biosolutions, a medtech startup offering medical innovation very useful for soldiers, raised USD 7.4 million funding in Series B round from Ratan Tata's RNT Capital, which will be used for expansion to new markets, and development of high-impact medical products

Also, to recall, India has recently joined hands with Japan to launch robotics and artificial intelligence in the defence segment.

Via - Economic Times | Wikipedia |

[Top Image - disa-india.org]

Govt Issues Guidelines To Encourage Startups Undertake Weapon & Military Development Projects

India's defence ministry has issued new rules for homegrown startups to take part in military projects in an attempt to encourage Indian startups undertake research projects to develop or upgrade weapon systems and in turn reduce imports in this field.

Under the new rules, startups recognised by the Department of Industrial Policy & Promotion (DIPP) under certain categories will automatically qualify to take part in specified defence projects. These categories range from aeronautics, nanotechnology and Virtual Reality to renewable technology, robotics, green technology and internet of things.

Between 2012 and 2016, India accounted for 13% of global arms & weapons imports and has been spending worth nearly $3.5 billion to boost its ageing Soviet era military equipment.

According to an ET report, the government has simplified rules for relatively smaller research and development projects has kept the project open to all Indian companies. It has done away with any regulations for participation.

“For projects with estimated cost of prototype development phase not exceeding Rs 3 crore, no separate technical or financial criteria (will) be defined for both ‘start-ups’ and ‘other than startups’, to encourage their participation,” the new rules specify.

With these rules specified, the three services will now shortlist projects that can be awarded under the category. The Army, Air Force and Navy have already identified 53 projects that can be taken up on priority under the rules. These include Maneuverable Expendable Aerial Targets (MEAT) for Army Air Defence, light weight body armour, a robotic surveillance platform, diesel engines for boats, limpet mines, air to ground rockets and long range glide bombs.

Also Read - India Wasting Money on Defence Budget While Future of War is Artificial Intelligence, Says Pakistan's Ex-Vice Admiral

Notably, the production of Indian defence equipments prior to 2011 was completely in the hands of the Government of India until in 2016 it opened up the Foreign direct investment (FDI) to 49% from the existing 26%.

New Defence Procurement Procedure (DPP) 2016 has a focus on achieving the "Make in India" vision by according topmost priority to 'Buy Indian - IDDM (Indian Designed, Developed and Manufactured)' and 'Buy (Indian)' categories.

There are several Indian startups & SMEs that cater to the Defense industry by supplying sub-assemblies and components and providing services like system integration. Under the Make in India initiative, these organizations are set to enhance their manufacturing and development efficiency, thereby contributing to making India self-reliant in defense production. Some of the system Integrators catering to the Defense sector in India are Mistral Solutions, Alpha Designs, Astra Microwave and SLN Technologies among others.

Also Read - Indian Defence Research Orgnization Boast To Develop Invisible Airplane

Numerous startups working in Medtech, artificial intelligence and Virtual reality/Augmented Reality are even helping Indian army and defence personnels.

In January this year, Axio Biosolutions, a medtech startup offering medical innovation very useful for soldiers, raised USD 7.4 million funding in Series B round from Ratan Tata's RNT Capital, which will be used for expansion to new markets, and development of high-impact medical products

Also, to recall, India has recently joined hands with Japan to launch robotics and artificial intelligence in the defence segment.

Via - Economic Times | Wikipedia |

[Top Image - disa-india.org]

IIS Alumni Startup Frontdesk AI Raises $1.1 Mn from Speciale Invest, Bay Area Angel Investors

Palo Alto-based artificial intelligence startup Frontdesk AI, which was founded by Indian-orgin entrepreneurs Srivatsan Laxman and Supriya Rao -- both alumni of Indian Institute of Science (IIS), Bangalore, has raised $1.1 million funding from Speciale Invest and a group of angel investors from the Bay Area.

Founded in 2016, FrontDeskAI has its core technology team and customer success team based in Bangalore with about 15 members.

Frontdesk AI offers an automated, full-service backup receptionist solution via messaging and voice. The startup has launched its services in the beauty and wellness industry and is looking to expand into the dental market, the company said in a statement to a business daily.

"Our core technology breakthrough is a powerful new AI framework for learning deep contextual natural language models over constantly evolving (and growing) conversational spaces," Srivatsan, co-founder and CEO at Frontdesk AI, said.

Laxman added that the company's platform has handled over 60,000 calls so far, converting nearly a third of those into revenue-generating transactions worth well over a million dollars in revenue for customers.

Notably, Srivatsan Laxman is a Ph.D while Supriya is M.Sc from from IIS-Bangalore. Both, Laxman and Supriya did their bachelor of engineering from University of Mysore, in same year.

Laaxman joined Microsoft Research India in April 2006, where he was a researcher in the machine learning & optimization group. In May 2013, he left Microsoft Research and co-founded Scibler Technologies, an AI-powered one-touch scheduling for people on-the-go, which according to Laxman's LinkedIn profile, he quit in August last year. Frontdesk AI's other co-founder Supriya is also CTO at Scibler, according to her Linkedin profile.

Speaking about Speciale Invest, it is a $15 million seed stage fund managed by Vishesh Rajaram (Managing Partner) and Arjun Rao (Partner).

Via - Business Standard

Google Launches Accelerator for Gaming Startups, Developers in India, SE Asia

Tech giant Google is launching a new four-month training programme for gaming startups and developers in South-East Asia including India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, Thailand and Vietnam, to successfully build, scale, launch and market the next generation of hit mobile games.

In a blog post, the company announced that the initiative called Indie Games Accelerator, which will be a four-month programme for independent game developers. The new programme will provide an opportunity to work with mentors from Google and the gaming industry.

In its blog post, Google said that emerging markets like India contribute more than 40% of game installs on Google Play - the app store for Android devices. It also said that there is “rapid smartphone adoption” in these areas.

This four month program is a special edition of Launchpad Accelerator, designed in close collaboration with Google Play, featuring a comprehensive gaming curriculum and mentorship from top mobile gaming experts, said the blog post.

Successful participants will be invited to attend two all-expense-paid gaming bootcamps at the Google Asia-Pacific office in Singapore, where they will receive personalized mentorship from Google teams and industry experts. Additional benefits include Google Cloud Platform credits, invites to exclusive Google and industry events, and more.

Interested startups and developers can apply here by 31 July and the results will be announced on 8 August.

As part of the programme, the developers would get two all-expenses-paid gaming bootcamps at the tech giant's Asia-Pacific office in Singapore.

They will also get access to Google Cloud Platform credits and invites to exclusive company and industry events, as well as the opportunity to be showcased on Google Play, the company said.

Facebook Permanently Shuts Down Its Drone-Powered Internet Project

Social media giant Facebook unveiled 'Aquila', a solar-powered internet drone, in August 2015. However on Wednesday Facebook announced that it has abandoned this project, which was planned to deliver internet in remote areas through solar-powered drones 'Aquila' aircraft also called as a high altitude platform station (HAPS) system.

Facebook held "technical and geographical limitations" responsible for its decision to permanently shutdown its dream of building a gigantic, solar-powered plane to blast internet to underserved communities via laser.

In a news post on the company’s coding sub-site, Facebook’s Yael Maguire announced that “we’ve decided not to design or build our own aircraft any longer, and to close our facility in Bridgewater."

"Of course, HAPS connectivity requires more than just an aircraft. We’ve made important progress on some of the other key parts of the system — including setting new records using millimeter-wave (MMW) technology in air-to-ground and point-to-point communication", added Maguire.

Closing the Aquila facility comes with the loss of 16 jobs specific to the development and maintenance of the aircraft, the company confirmed to TechCrunch.

Facebook however confirmed that although the company has decided to shutdown Aquila, it will continue to support entrepreneurs in programs like Express Wi-Fi — all to help connect the 4 billion people who still do not have access to the Internet.

The Express Wi-Fi project is actually an integral part of Facebook’s much talked about Internet.org mission. Through this mission, the Mark Zuckerberg led company aims to bring internet connectivity across the whole wide world, especially in the rural pockets.

Also Read - Facebook's AI Lab Develops A Bot That Speaks and Reacts Like A Human

In order to make the Express Wifi project a success in India, Facebook is making use of the old cable operator model. Till 2016, Facebook has implemented the model in over a 100 rural villages all across India.

Notably, in 2016 an ET report which quoted Robert Pepper, Facebook’s connectivity public policy director, divulged the fact that the California-based giant was in talks with a number of Indian telcos for the trials of its Aquila drones but then eventually in November 2016, Facebook decided not to bring its unmanned solar-powered drone to the Indian subcontinent.

Moreover, in September 2016, it was unveiled that a team of talented engineers at Mark Zuckerberg's Facebook Connectivity Lab have had successfully developed a new optical technology that helps laser beams to deliver fast Internet access to remote areas all around the globe. The company was working on this for last half a year.

Indian Students Secure First Position in South Asia`s Biggest Robotics Competition

Students from Blue Bells Public School, Gurugram and Indraprastha World School Paschim Vihar won the first position at the International chapter of 8th International Robotronics Competition (IRC League) recently held at the BITS Pilani Campus, Dubai. Avish Dahiya, a class 10th student from Blue Bells Public School along with Rohan Dhingra & Rudraksh from Indraprastha World School were part of the Team Robo Ace (S1) that secured the first position.

Touted as South Asia`s biggest robotics competition, IRC League witnessed participation from many renowned teams from countries including Sri Lanka, Maldives, Bangladesh, Singapore and China.

Mrs. Arpita Acharya, Vice Principal, Blue Bells Public School, extended her heartiest felicitations to the Robotics Team for this emphatic win at the international version of the Competition. She says, “ What lies ahead and what lies after are less important than what lies within us, because all innovation and creativity is a divinely reflection of the powers of the mind. Everything can be achieved in life by exploring the inherent powers and then mustering the courage to unravel them. Real education is thus not just the knowledge.On the contrary, it is an empowerment of the mind to ‘create, increate and re-create’ . All innovations are an outcome of man’s this inherent desire to excel. This is what Avish has proved by his magnificent performance and achievement.“

IRC League is considered a beehive of technological advancement in the world aiming to celebrate Science, Technology, Engineering and Mathematics (STEM) and make innovation an area of passion for the young minds of the developing world. It further intends to capture the attention of young innovators by giving them problems and challenges that not only stretch their imagination but also are burning issues.

It was yet another historic moment, a hat trick achievement for the Blue Bells Public School to clinch the First Position and Winners Trophy in the Senior Category at the international version of the game at BITS Pilani Campus, Dubai in 2018. Earlier school Robotics Team have lifted the Winners Trophy in IRC 2015 at Washington and 2016 at Singapore.

The teams competed for the topnotch position and renowned schools of India like The Shriram School, Aravali Campus, Blue Bells School, Gurgaon, SMS, Janakpuri, Indus World School, Indore, Jayshree Periwal High School were just some of the schools participating in the competition.

To recall, in February an Indian student became the proud winner of the Entrepreneurs' Organization South Asia Regional Qualifiers of the Global Student Entrepreneur Awards (GSEA) of 2018.

Top Image - Winners of International Robotronics Competition, (IRC) League 2018

Nissan's First Digital Innovation Hub To Set up in Kerala, India for R&D in Electric and Autonomous Vehicles

Japan's automobile major Nissan Motors will set up Its first digital innovation hub in India in Technocity, Thiruvananthapuram, Kerala, which will be a research and development (R&D) facility of sorts that will also be shared by the Renault Nissan Mitsubishi Alliance.

The main idea to develop the digital hub is to focus on the R&D towards electric and autonomous vehicles. To begin with, the Kerala government Kerala government has allotted space of 30 acres to Nissan in order to setup the hub during the first phase. In the second phase, the government will give Nissan additional 40 acres. Nissan's digital and innovation hub will be called Nissan knowledge city.

Nissan’s digital hub in Kerala will be its first in India, and will function as the nerve centre of the company’s research in electric and automated vehicles. The government of Kerala will sign the Memorandum of Understanding with Nissan on 29 June, 2018.

The reason that Nissan chose Kerala to set up its first digital innovation hub are; existing talent pool in IT and engineering, airport connectivity, cost effectiveness, quality of life, social amenities and the lack of traffic problems, among other things.

The upcoming digital and innovation hub will act as a talent pool of people who will be working on new-age technologies that can be utilized in automobiles such as cognitive analytics, artificial intelligence, and machine learning and so on. Once the hub is up and running, Nissan will be creating approximately 3,000 direct jobs along with few thousand indirect jobs as well.

Nissan along with its auto making partners Renault and Mitsubishi, is aiming at launching 17 electric models to achieve an annual vehicle sales of 14 million units by 2022.

Nissan's digital hub in Kerala will be company's fifth digital hub globally after having centres in Japan, China, France and USA. To start off with, the company will occupy the Technopark Phase III campus and a part of the co-developer space as well. The Renault Nissan Mitsubishi Alliance is betting big on electric vehicles and aims to not only launch 17 new electric models by 2022 but also rake in annual electric vehicles sales to the tune of 14 million units as well.

Also Read - Kerala To Have India's First Online Clearance System for Startups

Notably, Indian automobile major Bharat Forge has also been working on its R&D and technology strategy in the Electric Vehicle space over the last few years. The company has recently made a strategic investment of $13.5 million (£10 million) or about Rs.90 crores in Tevva Motors, a British and Israeli electric truck company.

Speaking about Kerala, the state has been a front-runner when it comes to adopting new-age technologies. In April, Kerala Blockchain Academy (KBA) of state-run Indian Institute of Information Technology & Management (IIITM-Kerala) has become the first Indian Institution to get membership of Hyperledger Project hosted by Linux Foundation.

In March, Kerala tied up with Indian space agency Indian Space Research Organisation (ISRO) to incubate and promote startups in the satellite and space technology sector.

Via - auto.ndtv.com

[Top Image - reports.nissan-global.com]

Nissan's First Digital Innovation Hub To Set up in Kerala, India for R&D in Electric and Autonomous Vehicles

Japan's automobile major Nissan Motors will set up Its first digital innovation hub in India in Technocity, Thiruvananthapuram, Kerala, which will be a research and development (R&D) facility of sorts that will also be shared by the Renault Nissan Mitsubishi Alliance.

The main idea to develop the digital hub is to focus on the R&D towards electric and autonomous vehicles. To begin with, the Kerala government Kerala government has allotted space of 30 acres to Nissan in order to setup the hub during the first phase. In the second phase, the government will give Nissan additional 40 acres. Nissan's digital and innovation hub will be called Nissan knowledge city.

Nissan’s digital hub in Kerala will be its first in India, and will function as the nerve centre of the company’s research in electric and automated vehicles. The government of Kerala will sign the Memorandum of Understanding with Nissan on 29 June, 2018.

The reason that Nissan chose Kerala to set up its first digital innovation hub are; existing talent pool in IT and engineering, airport connectivity, cost effectiveness, quality of life, social amenities and the lack of traffic problems, among other things.

The upcoming digital and innovation hub will act as a talent pool of people who will be working on new-age technologies that can be utilized in automobiles such as cognitive analytics, artificial intelligence, and machine learning and so on. Once the hub is up and running, Nissan will be creating approximately 3,000 direct jobs along with few thousand indirect jobs as well.

Nissan along with its auto making partners Renault and Mitsubishi, is aiming at launching 17 electric models to achieve an annual vehicle sales of 14 million units by 2022.

Nissan's digital hub in Kerala will be company's fifth digital hub globally after having centres in Japan, China, France and USA. To start off with, the company will occupy the Technopark Phase III campus and a part of the co-developer space as well. The Renault Nissan Mitsubishi Alliance is betting big on electric vehicles and aims to not only launch 17 new electric models by 2022 but also rake in annual electric vehicles sales to the tune of 14 million units as well.

Also Read - Kerala To Have India's First Online Clearance System for Startups

Notably, Indian automobile major Bharat Forge has also been working on its R&D and technology strategy in the Electric Vehicle space over the last few years. The company has recently made a strategic investment of $13.5 million (£10 million) or about Rs.90 crores in Tevva Motors, a British and Israeli electric truck company.

Speaking about Kerala, the state has been a front-runner when it comes to adopting new-age technologies. In April, Kerala Blockchain Academy (KBA) of state-run Indian Institute of Information Technology & Management (IIITM-Kerala) has become the first Indian Institution to get membership of Hyperledger Project hosted by Linux Foundation.

In March, Kerala tied up with Indian space agency Indian Space Research Organisation (ISRO) to incubate and promote startups in the satellite and space technology sector.

Via - auto.ndtv.com

[Top Image - reports.nissan-global.com]

Wishfin Launches Free Credit Score on Whatsapp

Financial marketplace Wishfin has launched a new product, "Whatsapp for Credit Score". Wishfin has integrated with Whatsapp to launch a free credit score on Whatsapp. This is a first of its kind, where Indian users will have access to their credit score on Whatsapp. This is also one of the early adaptations of Whatsapp for Credit monitoring globally.

To get free credit score on Whatsapp, users can just give a missed call at 82 87 151 151. They can also start a Whatsapp chat to check their credit score for free through this link: https://www.wishfin.com/campaign-whatsapp-cibil.

“Human-computer interaction is undergoing dramatic shifts. Voice and chat are becoming important tools of interaction. At Wishfin, our DNA is technology and we are always innovating. We wanted to be at the forefront of this trend, leveraging our cutting edge technology. We believe that Whatsapp is great for engagement with customers. Moreover, by using “Whatsapp for Credit Score” our customers can monitor their credit health at their convenience, very simply by giving us a missed call at 82 87 151 151. Whatsapp already has more than 250 million users in India and now they can access their credit score easily and simply, and in just a few seconds, by doing what they love – Whatsapp-ing!” said Puru Vashishtha, Chairman & MD, Wishfin.com.

Nearly 6 months ago, Wishfin had partnered with Whatsapp on testing its enterprise business solution. Wishfin had launched loan and credit card application on Whatsapp which was a huge success. That has further confirmed Wishfin’s belief that Whatsapp is a great engagement tool for financial products.

A few months ago, Wishfin had also partnered with TransUnion CIBIL to become the first fintech company to offer free CIBIL Credit reports in India. With the earlier success with Whatsapp, Wishfin has quickly innovated and launched this free Credit Score on Whatsapp, that really simplifies the process and offers an unparalleled customer experience of procuring a CIBIL Score and report. Customers will have complete control on the interaction, from starting the application to stopping the interaction, by just typing on Whatsapp.

Earlier known as Deal4Loans, the company rebranded itself to Wishfin in March last year. Wishfin offers financial products such as loans, credit cards etc. Wishfin.com (along with Deal4loans.com) is India’s largest lending marketplace with ~ 12 million customers and its adding half a million customers every month. Wishfin has disbursed more than ~ $3 billion worth of retail loans through its platform. Wishfin is thought leader in financial services and was the first fintech to launch Free CIBIL score in partnership with TransUnion CIBIL. Wishfin.com works with the top 40 Banks, NBFCs and financial institutions of India such as HDFC Bank, ICICI Bank, State Bank of India, HDFC Ltd, SBI Cards, Bajaj Finserve, etc.

Wishfin Launches Free Credit Score on Whatsapp

Financial marketplace Wishfin has launched a new product, "Whatsapp for Credit Score". Wishfin has integrated with Whatsapp to launch a free credit score on Whatsapp. This is a first of its kind, where Indian users will have access to their credit score on Whatsapp. This is also one of the early adaptations of Whatsapp for Credit monitoring globally.

To get free credit score on Whatsapp, users can just give a missed call at 82 87 151 151. They can also start a Whatsapp chat to check their credit score for free through this link: https://www.wishfin.com/campaign-whatsapp-cibil.

“Human-computer interaction is undergoing dramatic shifts. Voice and chat are becoming important tools of interaction. At Wishfin, our DNA is technology and we are always innovating. We wanted to be at the forefront of this trend, leveraging our cutting edge technology. We believe that Whatsapp is great for engagement with customers. Moreover, by using “Whatsapp for Credit Score” our customers can monitor their credit health at their convenience, very simply by giving us a missed call at 82 87 151 151. Whatsapp already has more than 250 million users in India and now they can access their credit score easily and simply, and in just a few seconds, by doing what they love – Whatsapp-ing!” said Puru Vashishtha, Chairman & MD, Wishfin.com.

Nearly 6 months ago, Wishfin had partnered with Whatsapp on testing its enterprise business solution. Wishfin had launched loan and credit card application on Whatsapp which was a huge success. That has further confirmed Wishfin’s belief that Whatsapp is a great engagement tool for financial products.

A few months ago, Wishfin had also partnered with TransUnion CIBIL to become the first fintech company to offer free CIBIL Credit reports in India. With the earlier success with Whatsapp, Wishfin has quickly innovated and launched this free Credit Score on Whatsapp, that really simplifies the process and offers an unparalleled customer experience of procuring a CIBIL Score and report. Customers will have complete control on the interaction, from starting the application to stopping the interaction, by just typing on Whatsapp.

Earlier known as Deal4Loans, the company rebranded itself to Wishfin in March last year. Wishfin offers financial products such as loans, credit cards etc. Wishfin.com (along with Deal4loans.com) is India’s largest lending marketplace with ~ 12 million customers and its adding half a million customers every month. Wishfin has disbursed more than ~ $3 billion worth of retail loans through its platform. Wishfin is thought leader in financial services and was the first fintech to launch Free CIBIL score in partnership with TransUnion CIBIL. Wishfin.com works with the top 40 Banks, NBFCs and financial institutions of India such as HDFC Bank, ICICI Bank, State Bank of India, HDFC Ltd, SBI Cards, Bajaj Finserve, etc.

Gurgaon-based Rooftop Focused Solar Startup Zunroof Raises ₹1.66 Crore in Angel Funding

Gurgaon-based ZunRoof, a rooftop focused solar startup, has raised a second round of angel funding of Rs 1.66 crore ($0.25mn) from i3N (led by Pradeep Tharakan, Sr. Energy Specialist at ADB and Vismay Sharma, MD, L'Oreal, UK & Ireland), Paipal Ventures’ Ajith Pai, Gaurav Gupta, Asia Director, Dalbergr and a bunch of IIT Kharagpur alumni based in US.

THe startup will use the freshly raised capital in bolstering and scaling up its tech, specially the IOT-based sense and monitoring devices that the startup has developed this year only.

Founded in 2016 by IIT alumni Pranesh Chaudhary ans Sushant Sachan, ZunRoof is a clean-tech company, using a mix of image processing, virtual reality, internet of things and data analytics. It uses using un-utilised rooftops for solar power.

Earlier, the startup had raised an undisclosed first round in December 2016 from executives from Facebook, Morgan Stanley and FICO.

ZunRoof claims to have served 60,000+ clients in North India and has 400+ successful solar rooftop PV sites installed across Delhi, Gurgaon, Noida, Chandigarh, Mohali, Agra, Jaipur, Faridabad, Ghaziabad, Lucknow, Greater Noida, Panchkula, Haridwar, Ludhiana and Haldwani.

Pranesh Chaudhary, CEO, ZunRoof said that the company currently has over 2500 paying clients. “Our sales run rate is ~ USD 6 Mn and the funds raised will be deployed to triple this within 12 months, with a positive unit economics,” said Chaudhary.

Zunroofs also claims that it has the highest number of rooftop installations in ten of the largest cities in North India and was on track to having the highest number of installations across India by September this year. After launching its solar rooftop app, the process of getting a rooftop system has been significantly shortened from the three-four months it would take earlier.

Earlier this month, Hyderabad-based solar energy solution startup Fourth Partner Energy raised $70 million in Series B funding from The Rise Fund, a global impact investment fund managed by TPG Growth.

In April, an another Gurgaon headquartered firm ReNew Power acquired of Delhi-based solar energy sartup Ostro Energy Private Limited for whopping $1.5 billion, to create the India’s largest clean energy firm by installed capacity.

Via - Economic Times

Gurgaon-based Rooftop Focused Solar Startup Zunroof Raises ₹1.66 Crore in Angel Funding

Gurgaon-based ZunRoof, a rooftop focused solar startup, has raised a second round of angel funding of Rs 1.66 crore ($0.25mn) from i3N (led by Pradeep Tharakan, Sr. Energy Specialist at ADB and Vismay Sharma, MD, L'Oreal, UK & Ireland), Paipal Ventures’ Ajith Pai, Gaurav Gupta, Asia Director, Dalbergr and a bunch of IIT Kharagpur alumni based in US.

THe startup will use the freshly raised capital in bolstering and scaling up its tech, specially the IOT-based sense and monitoring devices that the startup has developed this year only.

Founded in 2016 by IIT alumni Pranesh Chaudhary ans Sushant Sachan, ZunRoof is a clean-tech company, using a mix of image processing, virtual reality, internet of things and data analytics. It uses using un-utilised rooftops for solar power.

Earlier, the startup had raised an undisclosed first round in December 2016 from executives from Facebook, Morgan Stanley and FICO.

ZunRoof claims to have served 60,000+ clients in North India and has 400+ successful solar rooftop PV sites installed across Delhi, Gurgaon, Noida, Chandigarh, Mohali, Agra, Jaipur, Faridabad, Ghaziabad, Lucknow, Greater Noida, Panchkula, Haridwar, Ludhiana and Haldwani.

Pranesh Chaudhary, CEO, ZunRoof said that the company currently has over 2500 paying clients. “Our sales run rate is ~ USD 6 Mn and the funds raised will be deployed to triple this within 12 months, with a positive unit economics,” said Chaudhary.

Zunroofs also claims that it has the highest number of rooftop installations in ten of the largest cities in North India and was on track to having the highest number of installations across India by September this year. After launching its solar rooftop app, the process of getting a rooftop system has been significantly shortened from the three-four months it would take earlier.

Earlier this month, Hyderabad-based solar energy solution startup Fourth Partner Energy raised $70 million in Series B funding from The Rise Fund, a global impact investment fund managed by TPG Growth.

In April, an another Gurgaon headquartered firm ReNew Power acquired of Delhi-based solar energy sartup Ostro Energy Private Limited for whopping $1.5 billion, to create the India’s largest clean energy firm by installed capacity.

Via - Economic Times

Now Startups Can Get Listed on BSE from 9 July Onwards; Here're the Criteria

In our previous story we explained that how market regulator Securities and Exchange Board of India (Sebi) has allowed startups to list on the small and medium enterprises (SME) platform of the stock exchanges as an opportunity to raise capital apart from traditional funding routes such as Venture Capital, private equity and angel investment.

Now in a latest development, the Bombay Stock Exchange (BSE) is on verge to launch a new platform for startups and SMEs to get listed, which would begin from July 9 this year.

The platform will facilitate listing of companies from IT, ITeS, biotechnology and life science, 3D printing, space technology, e-commerce, Hi-tech defence, drones, nano technology, artificial intelligence, big data, enhance/virtual reality, e-gaming, exoskeleton, robotics, holographic technology, genetic engineering, variable computers inside body computer technology and any other hi-tech sectors.

In a circular, the stock exchange said, "To provide further incentive to companies which are 'startups' in sectors like IT, ITeS, biotechnology and life sciences, the exchange is pleased to announce that the BSE Startup Platform has been enabled in the BSE SME Segment."

The criteria for listing on “BSE Startup Platform” is as follows:

1. The pre issue paid up Equity share Capital of the company should be minimum of Rs. 1 crore.




2. The company should be in existence for a minimum period of 3 years on the date of filing the draft prospectus with BSE




3. There should preferably have investment by QIB investors (as defined under SEBI ICDR Regulations, 2009) / Angel Investors for a minimum period of 2 years at the time of filing of draft prospectus with BSE and such aggregate investment should be at least Rs. 1 crore




4. The company should have positive net-worth




5. The Company should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016




6. There should be no winding up petition against the company that has been accepted by the National Company Law Tribunal (NCLT)

The companies listing on BSE Startup Platform with the above mentioned criteria will follow all the other conditions applicable for listing of SME Companies under Chapter XB of “SEBI (ICDR) Regulations, 2009”, relating to disclosures, migration to main Board, etc.

It may be recalled that last month, E2E Networks Ltd, which is largely a bootstrapped startup that counts Blume Ventures as one of its few major investors, raised about ₹22 Crore by listing on SME platform of NSE, NSE Emerge.

Now Startups Can Get Listed on BSE from 9 July Onwards; Here're the Criteria

In our previous story we explained that how market regulator Securities and Exchange Board of India (Sebi) has allowed startups to list on the small and medium enterprises (SME) platform of the stock exchanges as an opportunity to raise capital apart from traditional funding routes such as Venture Capital, private equity and angel investment.

Now in a latest development, the Bombay Stock Exchange (BSE) is on verge to launch a new platform for startups and SMEs to get listed, which would begin from July 9 this year.

The platform will facilitate listing of companies from IT, ITeS, biotechnology and life science, 3D printing, space technology, e-commerce, Hi-tech defence, drones, nano technology, artificial intelligence, big data, enhance/virtual reality, e-gaming, exoskeleton, robotics, holographic technology, genetic engineering, variable computers inside body computer technology and any other hi-tech sectors.

In a circular, the stock exchange said, "To provide further incentive to companies which are 'startups' in sectors like IT, ITeS, biotechnology and life sciences, the exchange is pleased to announce that the BSE Startup Platform has been enabled in the BSE SME Segment."

The criteria for listing on “BSE Startup Platform” is as follows:

1. The pre issue paid up Equity share Capital of the company should be minimum of Rs. 1 crore.




2. The company should be in existence for a minimum period of 3 years on the date of filing the draft prospectus with BSE




3. There should preferably have investment by QIB investors (as defined under SEBI ICDR Regulations, 2009) / Angel Investors for a minimum period of 2 years at the time of filing of draft prospectus with BSE and such aggregate investment should be at least Rs. 1 crore




4. The company should have positive net-worth




5. The Company should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016




6. There should be no winding up petition against the company that has been accepted by the National Company Law Tribunal (NCLT)

The companies listing on BSE Startup Platform with the above mentioned criteria will follow all the other conditions applicable for listing of SME Companies under Chapter XB of “SEBI (ICDR) Regulations, 2009”, relating to disclosures, migration to main Board, etc.

It may be recalled that last month, E2E Networks Ltd, which is largely a bootstrapped startup that counts Blume Ventures as one of its few major investors, raised about ₹22 Crore by listing on SME platform of NSE, NSE Emerge.

Agri-Tech Startup Eggoz Raises Rs 1.2 Crores Funding from Clutch of Angel Investors

Kurawar, Madhya pradesh-based egg producer and agri-tech startup Eggoz has raised Rs 1.2 crores from clutch of angel investors including Narendra Sankar, Sunil Mishra, Vishal Sharma, Anurag Jhanwar and Mohini Jhanwar.

Founded by IIT Kharagpur alumni Abhishek Negi, Uttam Kumar, Aditya Singh and Pankaj Pandey in December 2017, Eggoz operates a network of egg poultry farm spread across Bihar and Madhya Pradesh. It is a full-stack egg producer using cutting-edge technology to produce high quality and nutrition-rich eggs. Eggoz farms are run with higher efficiency with smart technology and processes.

Eggoz runs network of multiple farms at various locations; producing predictable quality eggs. The company has total bird capacity of 1,00,000 hen with 65,000 hen operational farms and remainder under construction.

The company intends to use the capital to expand their business in states Madhya Pradesh and Bihar. The funds will also be used to build a company-owned farm in Nalanda, Bihar which will act as a model farm to attract clients, and for research and development. The company aims to scale operations to 5,00,000 hen capacity by 2020 with focus on Northern states.

Commenting on the development, Mr Abhishek Negi, Co-founder of Eggoz, said, "India has a “serious” hunger problem and ranks 100th out of 119 countries on the global hunger. Egg is a wholesome nutritious food which is available at affordable price. We saw huge gaps in the market with Southern states producing close to 70% of India’s total production. So, we started Eggoz to revolutionise egg industry and contribute in eradication of malnutrition by bringing fresh & nutrition-rich eggs to everyone. Going forward, we see a huge scope for innovation in production of raw ingredients as well as retail of eggs and processed items."

Pankaj Pandey, Co-Founder of Eggoz added, “At our current running capacity, we have a daily demand of 10MT maize and 2MT of soybean that we are currently sourcing directly from farmers and providing them higher returns than market. Going forward, we plan to adopt some villages and equip farmers with modern farming practices with the best possible guaranteed returns for their crops. Eggoz is just the beginning of a new agriculture era and we strive to take Indian agriculture to the next level.

Mr Narendra Sankar, an investor in Eggoz said, “With the continuing growth of the human population towards 9 billion by 2050, there is significant pressures to feed this growth using limited resources. Villages across India and other rapidly urbanizing economies are losing their ability to enable economic incentives, using their valuable land, to provide sustenance to the local and regional populations. Eggoz is one of the emerging class of companies that is using sensible technology to enable sustained and economical use of this land to provide the key needed nutrition for the children of the region, resulting in significant financial as well as developmental benefits.”

Notably, Before Eggoz, an another Madhya Pradesh based agriculture startup Carmel Organics had raised an undisclosed amount from Ankur Capital, in March this year. Carmel is a poducer & supplier of world class medicinal herbs, organic herbs and spices.

In February, Ankur Capital had invested in agritech startup, Agricx Lab, which has developed an AI-overlayed imaging technology for agri-produce quality assessment.

Of late, a lot of action can be seen in the field of agri-tech in India, as last month Israel's Tel Aviv University and Tata Trusts launched the Indian Centre for Agri & Allied Tech (I-CAT) that will bring Israeli know-how and innovation to the farmers of the state of Andhra Pradesh in southern India.

In the same month, government of India's policy think-tank NITI Aayog has partnered IBM to develop a crop yield prediction model using artificial intelligence (AI) to provide real time advisory to farmers in backward states of India.

Agri-Tech Startup Eggoz Raises Rs 1.2 Crores Funding from Clutch of Angel Investors

Kurawar, Madhya pradesh-based egg producer and agri-tech startup Eggoz has raised Rs 1.2 crores from clutch of angel investors including Narendra Sankar, Sunil Mishra, Vishal Sharma, Anurag Jhanwar and Mohini Jhanwar.
Founded by IIT Kharagpur alumni Abhishek Negi, Uttam Kumar, Aditya Singh and Pankaj Pandey in December 2017, Eggoz operates a network of egg poultry farm spread across Bihar and Madhya Pradesh. It is a full-stack egg producer using cutting-edge technology to produce high quality and nutrition-rich eggs. Eggoz farms are run with higher efficiency with smart technology and processes.

Eggoz runs network of multiple farms at various locations; producing predictable quality eggs. The company has total bird capacity of 1,00,000 hen with 65,000 hen operational farms and remainder under construction. 

The company intends to use the capital to expand their business in states Madhya Pradesh and Bihar. The funds will also be used to build a company-owned farm in Nalanda, Bihar which will act as a model farm to attract clients, and for research and development. The company aims to scale operations to 5,00,000 hen capacity by 2020 with focus on Northern states.

Commenting on the development, Mr Abhishek Negi, Co-founder of Eggoz, said, "India has a “serious” hunger problem and ranks 100th out of 119 countries on the global hunger. Egg is a wholesome nutritious food which is available at affordable price. We saw huge gaps in the market with Southern states producing close to 70% of India’s total production. So, we started Eggoz to revolutionise egg industry and contribute in eradication of malnutrition by bringing fresh & nutrition-rich eggs to everyone. Going forward, we see a huge scope for innovation in production of raw ingredients as well as retail of eggs and processed items."

Pankaj Pandey, Co-Founder of Eggoz added, “At our current running capacity, we have a daily demand of 10MT maize and 2MT of soybean that we are currently sourcing directly from farmers and providing them higher returns than market. Going forward, we plan to adopt some villages and equip farmers with modern farming practices with the best possible guaranteed returns for their crops. Eggoz is just the beginning of a new agriculture era and we strive to take Indian agriculture to the next level.

Mr Narendra Sankar, an investor in Eggoz said, “With the continuing growth of the human population towards 9 billion by 2050, there is significant pressures to feed this growth using limited resources. Villages across India and other rapidly urbanizing economies are losing their ability to enable economic incentives, using their valuable land, to provide sustenance to the local and regional populations. Eggoz is one of the emerging class of companies that is using sensible technology to enable sustained and economical use of this land to provide the key needed nutrition for the children of the region, resulting in significant financial as well as developmental benefits.”

Notably, Before Eggoz, an another Madhya Pradesh based agriculture startup Carmel Organics had raised an undisclosed amount from Ankur Capital, in March this year. Carmel is a poducer & supplier of world class medicinal herbs, organic herbs and spices.

In February, Ankur Capital had invested in agritech startup, Agricx Lab, which has developed an AI-overlayed imaging technology for agri-produce quality assessment.

Of late, a lot of action can be seen in the field of agri-tech in India, as last month Israel's Tel Aviv University and Tata Trusts launched the Indian Centre for Agri & Allied Tech (I-CAT) that will bring Israeli know-how and innovation to the farmers of the state of Andhra Pradesh in southern India.

In the same month, government of India's policy think-tank NITI Aayog has partnered IBM to develop a crop yield prediction model using artificial intelligence (AI) to provide real time advisory to farmers in backward states of India.

Bangalore's Liquor Firm Invest ₹27 Crore in Payment Tech Startup Hip Bar

Bengaluru-headquartered alcoholic beverages company, United Spirits Ltd (USL) has invested Rs 27 crore to pick up 26 percent stake in payment technology startup, Hip Bar Private Ltd, in its bid to drive sales through e-commerce route.

The entire investment for stake acquisition was paid by UCL in cash. Following the company’s investment, Hip Bar has become an “associate company”.

Founded in 2015, Chennai-based Hip Bar claims to be India's first drinks delivery app with an RBI-approved mobile wallet that enables customers browse adult beverages, order them and have them home-delivered or pick them up at a retail store at their convenience.

The startup was founded by Prasanna Natarajan, who previously founded Sipping Spirits, India's first boutique spirit bottling company in 2007, quietly carving a niche in the Indian alcohol beverages space.

Hip Bar currently operates in Bengaluru, Goa and Chennai and digitally connects alcohol brands, retail stores and consumers through a common platform.

According to USL-the flagship liquor arm of Diageo India, Hip Bar would continue to run as an independent enterprise under the leadership of its founders.

Anand Kripalu, CEO and Managing Director of Diageo India, which owns USL, said, "At Diageo India, we have been innovating and meeting consumer trends by offering new products and formats. This investment allows us to discover ideas that anticipate shifts in consumer behaviour and enables us to remain at the forefront of trends."

With imposition of umbrella ban on liquor sales in a few Indian states apart from rising scrutiny from judiciary, retail sales of liquor had taken a hit during the last fiscal. Against this backdrop, Diageo India had earlier said that it would tap e-commerce route to drive sales in the future and the current acquisition is a step in that direction.

Via - Business Standard

Top Image - YourStory.com

8 Viral Fashion Retail App Technologies In 2018

One of the fastest growing and evolving industries of our times is the fashion industry. With the huge market and new fashion brands coming up every then and now, shopping and marketing tactics have undergone a sea change. For instance, the shift towards mobile commerce, or m-commerce as it is popularly known as, is one of the most remarkable actions the fashion industry has seen in the recent years. Features like that of easy navigation, loyalty programs, fast delivery, and push notification have made mobile shopping really easy and convenient.
Brands like that of H&M, Klothed, Dior, and ASOS are going with the latest technologies to bring in new innovations by the day. The unique solutions that they come up with lead the industry to new heights and make the shopping experience highly fulfilling. Let’s take a look at the present retail technologies that are being implemented by renowned brands and the app features that are going to rule the year.

1. Barcode scanners have taken the top spot

One of the most fascinating trends in the fashion industry is the barcode scanning. Whether it is to buy your next pair of trendy shoes or blazers, you just need to scan the barcode of the product to get the product details easily. The fashion app from H&M used this technology in aiding the customers to get endless options for discounts and coupons and also to find the store locations. The brand provides relevant and latest updates to the users through this app.

2. Selling of products through videos

Online shopping has taken a completely different direction in the product displays. You will find online stores featuring their products by showing catwalk videos for each of the products. It has emerged as one of the best ways to build up brand trust and showcase their products more lucratively. The runaway videos that are a part of the ASOS app run for not more than 11 to 12 seconds and watching them feels like you have the front row seats at a fashion show.

3. Try on the outfits virtually

Why stand in long queues at the stores when you can save time and hassle using virtual dressing rooms? The retail stores now have apps that let you choose patterns, sizes, and colors using hand gestures. You can share the look on social media for feedback and plan the wardrobe more effectively. The Klothed app has made this a reality by providing you with a virtual avatar of yourself to dress up using clothes from different retailers.

[caption id="attachment_124854" align="aligncenter" width="995"] Image - http://blog.mocaplatform.com[/caption]

4. Selling through social media

Retailers have been taking the advantage of social media for quite some time now. The social media has infiltrated the luxury industry in a big way leading to an increase in their customer base. At present, the top brands have collaborations with major technology giants to sell their products through social platforms like WeChat and Snapchat. Dior recently welcomed social selling to engage the customers of China through WeChat and registered a hugely successful campaign.

Also Read - Amazon Has Developed An AI Fashion Designer

5. Use of beacon technology

The beacon technology is another major step in improving the shopping experience. The retail shopping industry has been using the beacon technology as a crucial part of customer engagement. You can think of this as the part m-shopping that finally completes the puzzle. Macy is the best example of using beacon in its stores and more than four thousand of its shoppers receive notifications via beacons. Macy’s makes it more exciting by using beacons to announce sales, discounts, and prizes.

6. Investment in security of personal data

Securing personal data online like credit card details, usernames, and passwords are crucial to the retail apps. The threat to personal data increases in tandem to the growth of mobile commerce. To ensure the safety of the users, the Bulgari app collaborated with the Swiss online security agency known as Wisekey. Together, they came up with the Bulgari vault which stores all the personal data of the user and ensures security for the mobile payments.

7. The implementation of visual search

Visual app is the cool new feature of the fashion retail apps whereby you can take picture of any product that you liked and then search it using the app. The customer will immediately be provided with product details related to the search to help them make a purchase of whatever coveted fashion item that they are after. JC Penney is one of the first brands to have implemented this feature in their mobile app.

[caption id="attachment_124855" align="aligncenter" width="600"] Image - http://retail-innovation.com[/caption]

8. A listing of retail stores through an app

Zomato has made life so much easy for the foodies by helping them locate and know the details of all local restaurants in every city. You no longer need to ask friends or look around to search the perfect outlet to shop for the latest trend. An app called SummerLabel is all set to do the same for the fashion lovers of the country. It provides a listing of every major and minor branded store within a given area. Thus, the retail app technologies are no longer limited to being viable only for the online shoppers.
You can expect many more remarkable changes and innovations in the fashion retail apps as more and more startups keep on emerging. The trends are all about adding new value to the name of retailers by enabling the customers to benefit from new and exciting shopping experiences.

[Top Featured Image Via - WTVOX.com]

8 Viral Fashion Retail App Technologies In 2018

One of the fastest growing and evolving industries of our times is the fashion industry. With the huge market and new fashion brands coming up every then and now, shopping and marketing tactics have undergone a sea change. For instance, the shift towards mobile commerce, or m-commerce as it is popularly known as, is one of the most remarkable actions the fashion industry has seen in the recent years. Features like that of easy navigation, loyalty programs, fast delivery, and push notification have made mobile shopping really easy and convenient.
Brands like that of H&M, Klothed, Dior, and ASOS are going with the latest technologies to bring in new innovations by the day. The unique solutions that they come up with lead the industry to new heights and make the shopping experience highly fulfilling. Let’s take a look at the present retail technologies that are being implemented by renowned brands and the app features that are going to rule the year.

1. Barcode scanners have taken the top spot

One of the most fascinating trends in the fashion industry is the barcode scanning. Whether it is to buy your next pair of trendy shoes or blazers, you just need to scan the barcode of the product to get the product details easily. The fashion app from H&M used this technology in aiding the customers to get endless options for discounts and coupons and also to find the store locations. The brand provides relevant and latest updates to the users through this app.

2. Selling of products through videos

Online shopping has taken a completely different direction in the product displays. You will find online stores featuring their products by showing catwalk videos for each of the products. It has emerged as one of the best ways to build up brand trust and showcase their products more lucratively. The runaway videos that are a part of the ASOS app run for not more than 11 to 12 seconds and watching them feels like you have the front row seats at a fashion show.

3. Try on the outfits virtually

Why stand in long queues at the stores when you can save time and hassle using virtual dressing rooms? The retail stores now have apps that let you choose patterns, sizes, and colors using hand gestures. You can share the look on social media for feedback and plan the wardrobe more effectively. The Klothed app has made this a reality by providing you with a virtual avatar of yourself to dress up using clothes from different retailers.

[caption id="attachment_124854" align="aligncenter" width="995"] Image - http://blog.mocaplatform.com[/caption]

4. Selling through social media

Retailers have been taking the advantage of social media for quite some time now. The social media has infiltrated the luxury industry in a big way leading to an increase in their customer base. At present, the top brands have collaborations with major technology giants to sell their products through social platforms like WeChat and Snapchat. Dior recently welcomed social selling to engage the customers of China through WeChat and registered a hugely successful campaign.

Also Read - Amazon Has Developed An AI Fashion Designer

5. Use of beacon technology

The beacon technology is another major step in improving the shopping experience. The retail shopping industry has been using the beacon technology as a crucial part of customer engagement. You can think of this as the part m-shopping that finally completes the puzzle. Macy is the best example of using beacon in its stores and more than four thousand of its shoppers receive notifications via beacons. Macy’s makes it more exciting by using beacons to announce sales, discounts, and prizes.

6. Investment in security of personal data

Securing personal data online like credit card details, usernames, and passwords are crucial to the retail apps. The threat to personal data increases in tandem to the growth of mobile commerce. To ensure the safety of the users, the Bulgari app collaborated with the Swiss online security agency known as Wisekey. Together, they came up with the Bulgari vault which stores all the personal data of the user and ensures security for the mobile payments.

7. The implementation of visual search

Visual app is the cool new feature of the fashion retail apps whereby you can take picture of any product that you liked and then search it using the app. The customer will immediately be provided with product details related to the search to help them make a purchase of whatever coveted fashion item that they are after. JC Penney is one of the first brands to have implemented this feature in their mobile app.

[caption id="attachment_124855" align="aligncenter" width="600"] Image - http://retail-innovation.com[/caption]

8. A listing of retail stores through an app

Zomato has made life so much easy for the foodies by helping them locate and know the details of all local restaurants in every city. You no longer need to ask friends or look around to search the perfect outlet to shop for the latest trend. An app called SummerLabel is all set to do the same for the fashion lovers of the country. It provides a listing of every major and minor branded store within a given area. Thus, the retail app technologies are no longer limited to being viable only for the online shoppers.
You can expect many more remarkable changes and innovations in the fashion retail apps as more and more startups keep on emerging. The trends are all about adding new value to the name of retailers by enabling the customers to benefit from new and exciting shopping experiences.

[Top Featured Image Via - WTVOX.com]

Tea Retailer Chai Point Launches 100th Store in Bangalore

After raising good amount of $20 million of capital in Series C funding round in April, India’s largest organized tea retail chain Chai Point today launched its 100th store in Indiranagar, Bangalore. Mr Priyank Kharge, Minister of Social Welfare Development, Karnataka Government inaugurated the Store.

This store is a turning point for the company, which has managed to create a unique brand of tea stores across India. Located on 12th Main alongside other high-end restaurants, the 100th store boasts of a new look with a large open seating area which is accentuated with greenery. With the new store launch, the company is also making an effort to elevate the customer experience through design, technology and made-for-chai foods.

Read our featured story on Chai Point here.

Talking about the new store concept, Amuleek Singh Bijral, Co-founder and CEO, Chai Point, says, “The 100th store is an exciting milestone for us. It marks the beginning of a new and enhanced customer experience that we have built by incorporating our learnings from the last 7 years. From the store design philosophy to the new made-for-chai menu to billing which uses face recognition technology - everything has been designed to create a rich store experience.”

[caption id="attachment_124848" align="aligncenter" width="995"] Priyank Kharge social welfare development minister govt of Karnataka[/caption]

The store follows the brand’s new design philosophy which is aimed at creating a warm, authentic and progressive space for young urban chai lovers to meet and socialize. While the contemporary indoor space feels cozy and relaxed, the outdoor open area is lush with greenery to highlight the company’s Clean Earth commitment.

The store’s new made-for-chai menu is an interesting mix of authentic and contemporary foods. While Rajdhani cutlets and Tutti Frutti Bun Maska are traditional favourites, those who want to experiment can try Nawabi Chicken Croissant or Mathri with three beans masala - an Indian take on Mexican Nachos.

Chai Point’s loyalty program Prioritea will also be seen getting more tech savvy. Customers can now opt for a face scan to make their billing experience quick and seamless and get higher rewards and benefits. Using technology led innovations, the company aims to increase its loyalty customer base to 3 million in the next one year.

Chai Point is India’s largest organised brand in the INR 1.5 Lakh crore Chai market targeting 1 billion Indians. The average per capita consumption of the beverage is increasing at a steady rate of 20-30%. With the launch of its 100th store, Chai Point has evolved into a formidable player in India’s food and beverage industry where it will be competing with several international cafe chains.

In August 2016, Chai Point also launched a, IoT-based Beverage services platform boxC, to provide 100% authentic Chai and filter coffee at office pantries. The cloud based platform distinguishes itself by ensuring much higher level of transparency in both beverage quality, billing basis and service levels.

India is one of the world's biggest tea consumer and Chai Point plans to double down on what is estimated to be a multi-million dollar market opportunity. Over the coming months, Chai Point will also face competition from the Tata Group, which has already launched its Tata Cha tea cafes and plans to aggressively ramp up.

In a competition to Chai Point, an another similar Tea-based startup -- Chai Break, which is based out of Kolkata, had received Rs 5 crore angel funding from Venture Catalysts of Mumbai to expand outlets of its chains, mostly in Tier II cities.

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Tea Retailer Chai Point Launches 100th Store in Bangalore

After raising good amount of $20 million of capital in Series C funding round in April, India’s largest organized tea retail chain Chai Point today launched its 100th store in Indiranagar, Bangalore. Mr Priyank Kharge, Minister of Social Welfare Development, Karnataka Government inaugurated the Store.

This store is a turning point for the company, which has managed to create a unique brand of tea stores across India. Located on 12th Main alongside other high-end restaurants, the 100th store boasts of a new look with a large open seating area which is accentuated with greenery. With the new store launch, the company is also making an effort to elevate the customer experience through design, technology and made-for-chai foods.

Read our featured story on Chai Point here.

Talking about the new store concept, Amuleek Singh Bijral, Co-founder and CEO, Chai Point, says, “The 100th store is an exciting milestone for us. It marks the beginning of a new and enhanced customer experience that we have built by incorporating our learnings from the last 7 years. From the store design philosophy to the new made-for-chai menu to billing which uses face recognition technology - everything has been designed to create a rich store experience.”

[caption id="attachment_124848" align="aligncenter" width="995"] Priyank Kharge social welfare development minister govt of Karnataka[/caption]

The store follows the brand’s new design philosophy which is aimed at creating a warm, authentic and progressive space for young urban chai lovers to meet and socialize. While the contemporary indoor space feels cozy and relaxed, the outdoor open area is lush with greenery to highlight the company’s Clean Earth commitment.

The store’s new made-for-chai menu is an interesting mix of authentic and contemporary foods. While Rajdhani cutlets and Tutti Frutti Bun Maska are traditional favourites, those who want to experiment can try Nawabi Chicken Croissant or Mathri with three beans masala - an Indian take on Mexican Nachos.

Chai Point’s loyalty program Prioritea will also be seen getting more tech savvy. Customers can now opt for a face scan to make their billing experience quick and seamless and get higher rewards and benefits. Using technology led innovations, the company aims to increase its loyalty customer base to 3 million in the next one year.

Chai Point is India’s largest organised brand in the INR 1.5 Lakh crore Chai market targeting 1 billion Indians. The average per capita consumption of the beverage is increasing at a steady rate of 20-30%. With the launch of its 100th store, Chai Point has evolved into a formidable player in India’s food and beverage industry where it will be competing with several international cafe chains.

In August 2016, Chai Point also launched a, IoT-based Beverage services platform boxC, to provide 100% authentic Chai and filter coffee at office pantries. The cloud based platform distinguishes itself by ensuring much higher level of transparency in both beverage quality, billing basis and service levels.

India is one of the world's biggest tea consumer and Chai Point plans to double down on what is estimated to be a multi-million dollar market opportunity. Over the coming months, Chai Point will also face competition from the Tata Group, which has already launched its Tata Cha tea cafes and plans to aggressively ramp up.

In a competition to Chai Point, an another similar Tea-based startup -- Chai Break, which is based out of Kolkata, had received Rs 5 crore angel funding from Venture Catalysts of Mumbai to expand outlets of its chains, mostly in Tier II cities.

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