Transport Community Platform Vahak and InsurTech SecureNow Collab to Ease Access to Cargo Insurance for India

As per NITI Ayog, India transports approx. 4.6 Billion Tonnes of freight annually, generating transport demand of 2.2 Trillion Tonne-km.

As this demand grows, associated road freight movement will increase to 9.6 Trillion Tonne-km by 2050, and so will the need to safeguard the cargo transported.

Vahak, India’s most-trusted transport community platform, has announced a collaboration with SecureNow, a leading tech-enabled insurance platform for businesses, to offer cargo insurance to the Indian trucking community.

Vahak, co-founded by IITians Karan Shaha and Vikas Chandrawat, is on a mission to digitise the Indian logistics sector, which contributes over 14% to India’s GDP. This logistics tech company is fostering India’s largest ecosystem of transport SMEs, shippers, and lorry/fleet owners on its website and app, amid the fast-growing $250 Billion logistics sector in the country.

Karan Shaha, Co-Founder, and CEO at Vahak, said, “Our vision is to build a trusted transport community platform that addresses the needs of transporters, fleet owners, and truckers for growth. While the Indian trucking business remains fragmented and unorganised, and largely not covered under social security benefits, we want to bring peace of mind to the demand and supply sides, helping them mitigate the financial risks associated with transporting goods.”

Discussing the need of the hour, Shaha elaborates, “India transports nearly 4.6 billion tonnes of freight annually, generating transport demand of 2.2 trillion tonne-km, as per NITI Ayog. As this demand grows, associated road freight movement is likely to increase to 9.6 trillion tonne-km by 2050. And as road freight travel grows, the number of trucks is likely to more than quadruple, to roughly 17 million trucks by 2050. And, so will the urgent need to safeguard the transported cargo."

Cargo insurance can protect trucking companies and shippers against losses due to theft, accidents, natural disasters, and other unexpected events that can cause damage or loss of cargo. This can help mitigate the financial impact of these losses and provide peace of mind to both parties. Many shippers and manufacturers may require trucking companies to carry cargo insurance in order to comply with regulations or contractual obligations. Failing to have proper insurance coverage can lead to penalties and legal issues. Having cargo insurance gives fleet owners and truckers competitive advantage over those that do not, as they can offer load owners and manufacturers an added level of protection and reassurance, improving customer satisfaction and building trust in the long run.

India is home to around 60 million MSMEs, many of whom lack the knowledge necessary to purchase reliable transit insurance at the time of booking confirmation. Abhishek Bondia, Co-Founder of SecureNow, explains, “Unfortunately, while small businesses are most vulnerable to accidents, they are unable to give a large share of mind to insurance. Our collaboration with Vahak will help to bring them into the coverage net. Through this partnership, we will make transit insurance more contextual. Firms can buy their insurance at the time of booking the transport. This will ensure higher compliance rate for these businesses, better coverage and lesser administrative overheads.”

SecureNow’s tech-enabled platform offers comprehensive insurance solutions with limited exclusions and low prices. The pre-buying and post-sale process allows businesses to manage their policies with multiple insurers and raise claims through one common platform. With this collaboration, Vahak has added another key feature to safeguard transporters. Vahak had recently announced its collaboration with Coverstack making digital vehicle insurance processes efficient, fast and cost-effective.

About Vahak

Vahak is India’s most-trusted transport community, co-founded by IITians Karan Shaha and Vikas Chandrawat in 2019. The platform fosters India’s largest ecosystem of transport SMEs and lorry owners. Enabling truck and load bookings at 0% commission, Vahak matches diverse loads with the right sectoral requirements of trucks, containers, light commercial and specialised vehicles. Vahak’s vision to digitise the Indian Logistics Sector has been well-backed by investors – Nexus Venture Partners, Foundamental, iSeed Ventures, Leo Capital, RTP Global, Titan Capital and Work Universe – to become the go-to digital solution for India’s road transport logistics. Know more on www.vahak.in

About SecureNow

SecureNow is a leading tech-enabled insurance platform for businesses, offering comprehensive insurance solutions with limited exclusions and low prices. The platform leverages technology to make the pre-buying and post-sale process seamless, allowing businesses to manage their policies with multiple insurers and raise claims through one common platform.

To know more: www.securenow.in

Inverter Battery Prices: A Comprehensive Checklist for Homeowners

Power outages have become increasingly common in many parts of the world, and this has made it necessary for homeowners to invest in robust backup power systems such as inverters and inverter batteries. Consequently, inverter battery prices are an essential factor to consider when investing in a backup power system to ensure a good fit for your budget.

However, there’s no denying that finding the right inverter battery price can be daunting, especially for first-time buyers. Inverter battery prices, after all, can vary significantly depending on a wide range of factors, from brand and capacity to technology and warranty programs. This comprehensive checklist will tell you everything you need to know about the most important factors to consider when researching the inverter battery price.

Image - Luminous

1. Inverter Battery Capacity

Inverter batteries can come in a wide range of different capacities, measured in Ah or Ampere Hours. Inverter battery capacity gives you vital information about how long it can provide backup power to your home. When considering inverter battery prices, you must calculate your power requirements carefully and choose a battery with a suitable capacity to meet your needs.

2. Inverter Battery Technology

The engineering and technology used in the battery you choose can also affect inverter battery prices. Inverter batteries are typically classified into three categories: tubular, gel, and lithium-ion batteries. 

While lead-acid batteries are efficient, affordable, and have been available in the market for a long time, lithium-ion batteries are newer technology with smooth yet robust performance and long lifespan.

Manufacturers like Luminous provide a wide range of high-quality inverter batteries at many different inverter battery price points so you can find the perfect fit based on your needs and budget.

3. Inverter Battery Brand

The brand of the inverter battery can also impact its price. Choosing a reputable brand can be worth the investment as it can offer peace of mind, better performance, and excellent after-sales support in the long run. High-quality and trusted brands with a reputation for quality and reliability, like Luminous, are well worth your investment.

4. Warranty Support for Inverter Battery

The warranty offered by the manufacturer is also an essential factor to consider when comparing inverter battery prices. An extended warranty period typically indicates that the manufacturer has confidence in the quality and durability of its product. Choosing an inverter battery with a warranty period of at least 24 months is advisable. Some manufacturers also offer extended warranty periods for an additional fee, which can provide added protection and peace of mind.

5. Inverter Battery Installation Costs

In addition to inverter battery prices, homeowners also need to consider installation costs. Inverter battery installation requires a level of expertise and knowledge that you, as a layman, may not possess. It is highly recommended that you ask for a professional to install the system. The installation costs in inverter battery prices can vary depending upon the complexity of installation and the location of the installation in your home.

The Final Word

Investing in an inverter battery is essential for homeowners who want to ensure they can keep the lights on in the event of a power cut in their home or place of work. Naturally, inverter battery prices are one of the most vital factors in this investment. However, it’s essential to look beyond just the price tag and consider other factors, such as your needs, quality, and even post-sales support for your inverter battery

Visit Luminous’ official website today to learn more!

India's 1st AI-based Investment Advisory Firm JARVIS Invest Expands to Australia

JARVIS Invest expands to Australia, deploys AI-driven equity analytics & technology to enable investments in India and Australian equity markets

• After the Middle East, JARVIS Invest further expands to Australia to cater to B2B segment – sets up its Oceania headquarters in Melbourne
• ‘JARVIS AI Analytics’ has partnered with a Sydney-based financial institution to manage its first fund for Australian investors
• The one-of-its-kind fund targeted to institutions and family offices in Australia will be completely AI-managed and will invest in India – the fastest-growing economy in the world
• This development further enables foreign investments into Indian & Australian equity markets and is a testimony to the increasing use of AI in the field of investments

JARVIS Invest, India’s first AI-based Investment advisory platform, is further expanding to Australia and has chosen Melbourne as its Oceania headquarters. After the recent expansion in the Middle East for its B2B Enterprise product, the company has chosen to expand to Australia and tap into the country’s robust tech and investment ecosystem.

The company's expansion into Australia is a key milestone in its global expansion plans. With the support of Australian investors, JARVIS Invest will be able to deploy its AI technology to invest in India and Australia equity markets, capitalizing on market opportunities and delivering superior returns for its clients.

Mr. Sumit Chanda in Australia for the official announcement

Founded, by Sumit Chanda in December 2016, JARVIS Invest, was born out of a need to democratize portfolio management and address limitations in the equity investment model. The firm offers bespoke equity portfolio management solutions to both institutions and retail investors.

The Mumbai-based firm, JARVIS Invest, will be supported by the Government of Victoria, and is poised to generate tech/AI jobs in Melbourne. Over the next three years, JARVIS Invest plans to create a total of 30 jobs in the state of Victoria. Melbourne will be the hub for Australia’s AI-based fund management platform. JARVIS Invest has launched ‘JARVIS AI Analytics’ a tech company in Melbourne, which will primarily identify potential institutions, fund houses, banks, brokers with whom the technology will be shared.

To begin with, ‘JARVIS AI Analytics’ has partnered with a Sydney-based financial institution to manage its first fund for Australian investors. This fund will be completely AI-managed, with zero human intervention, and supported by the JARVIS AI Analytics Melbourne HQ. Targeted to institutions and family offices in Australia, the fund will be investing in diversified sectors in India – fastest growing economy in the world.

JARVIS AI Analytics will also tie up with an independent Australian company, ‘AI Era’ to build a distribution base in Australia. This move will enable JARVIS Invest to sell its tech expertise to financial planners and self-managed super funds.

Mr. Sumit Chanda, Founder and CEO, JARVIS Invest said, “We are excited to expand in Australia and we thank State Government of Victoria for its support to launch AI based fund management platform in Melbourne. AI is already disrupting how businesses are done, and we believe there will be several economic opportunities that will flow from AI in the years to come. As we expand our B2B offerings globally, JARVIS AI Analytics will help institutions, banks, family offices in Australia to invest across key markets like India, Australia and US. JARVIS AI Analytics has identified its first fund based out of Syndey, which will be investing in India. This fund will be exclusively managed by AI-driven ‘JARVIS’, an exceptionally intelligent portfolio management tool, which has the capability of predicting the stocks, ETFs, & index prices in the Indian stock market and across 3 major global markets. In the current volatile global markets, the fund will offer unique solutions, in a dynamic macro environment, and devoid of human biases. We will continue to focus on India, UAE and Australia markets to launch more innovative solutions for the investment industry.”

Welcoming the opening of JARVIS Invest HQ in Melbourne, Ms. Michelle Wade – Commissioner, Victorian Government Trade & Investment for South Asia said, “Melbourne is the tech capital of Australia and the establishment of JARVIS Invest shows strong confidence in our industry, workforce and culture of innovation. Melbourne’s tech ecosystem continues to create favorable conditions that allow international businesses to thrive and grow, especially for companies like JARVIS Invest, and we are here to help grow their APAC business via the new Victorian operations.”

JARVIS has been performing consistently and has delivered superlative returns, across market conditions and offers bespoke solutions to the entire gamut of retail and institutional equity investors. In November 2021, JARVIS Invest had raised a seed round of USD 600k from a family office in UAE via the FDI route and raised another USD 1mn in November 2022. On an average, JARVIS portfolio has outperformed Nifty and has protected users from steeper crashes during market downfall.

About JARVIS Invest:

JARVIS Invest is India’s first Artificial Intelligence (AI) based investment advisory startup, founded by Sumit Chanda in December 2016. ‘JARVIS’ is an exceptionally intelligent Portfolio Management tool created by a team of seasoned individuals in the field of investments, research, and technology. With an aim to address limitations in equity investment, the company aims to simplify the fund and risk management process for institutions, fund managers, family offices and retail investors. Under its B2B business, the company offers AI-led advisory capabilities to institutions and fund houses in the form of end-to-end fund curation technology or fullstack market research APIs for selective analysis. JARVIS Invest's retail product offers hyper-personalized AI-led investment portfolios based on an investor's appetite and risk profile.

JARVIS has the capability of predicting the stocks, ETFs & index prices in the Indian stock market and across 3 major global markets. JARVIS Investment philosophy takes into consideration over 40 million local and global data points across fundamentals, price & volume time series, corporate actions, government policies, regulations & compliance, global & domestic events, sentiment data among other macros to achieve predictability and accuracy.

JARVIS Invest now offers its AI-led investment solutions in India, UAE and Australia. In November 2021, JARVIS Invest had raised a seed round of $600k from a family office in UAE and raised another USD 1 mn in November 2022.

For more information, visit https://www.jarvisinvest.com/  

BLive partners with Chartered Bike Pvt Ltd (CBPL) in a multi-hundred crore deal!

• The MoU between BLive and CBPL will target nationwide deployment of 10,000 2-wheeler EVs and 1000 3-wheeler EVs over the next three years
• The collaboration aims to help last-mile delivery companies such as Zomato, Swiggy, Amazon, Flipkart, Delhivery, Porter and many more to resolve the supply gap of electric vehicles in the market

BLive, India's fastest growing multi-brand electric vehicle platform, has teamed up with Chartered Bike Pvt Ltd (CBPL) – India’s leading provider of electric mobility solutions, specialising in public bike sharing, in-campus mobility, e-commerce delivery, and last-mile delivery services. As per the MoU signed between BLive and CBPL, the collaboration will target nationwide deployment of 10,000 2-wheeler EVs and 1000 3-wheeler EVs over the next 3 years. The total MoU is worth approximately INR 120 Cr with estimated deployment in three phases - INR 30 Cr in the first year, INR 40 Cr in second, and INR 50 Cr in the third year.

The partnership between BLive and CBPL is aimed at helping last-mile delivery companies, such as Zomato, Swiggy, Amazon, Flipkart, Delhivery, Porter and many more, to resolve the supply gap of electric vehicles in the market. The MoU between BLive and CBPL will resolve this issue by helping these organisations deploy vehicles nationwide, with a focus on Tier II cities.

Chartered Bike Pvt Ltd is a leading provider of electric mobility solutions, specialising in public bike sharing, in-campus mobility, e-commerce delivery, and last-mile delivery services. CBPL is committed to delivering sustainable transportation options that are both cost-effective and environmentally friendly. CBPL’s public bike sharing programme offers convenient, affordable, and healthy transportation options to commuters and city-dwellers alike. Thanks to CBPL’s fleet of state-of-the-art electric bicycles, riders can easily navigate the urban landscape, while reducing their carbon footprint. In addition to public bike sharing, CBPL also offers in-campus mobility solutions that help students, faculty, and staff move around their campuses efficiently and sustainably. Their electric vehicles are perfect for short trips between buildings, or for running errands around campus.

Speaking about the collaboration, Samarth Kholkar, CEO & Co-Founder, BLive, said “We are excited to partner with Chartered Bike Pvt Ltd to further our cause for greater adoption of EVs in the country. With a focus on electric vehicles for their delivery fleet, last-mile delivery service providers have been a major accelerator of India’s electric mobility revolution. The use of electric vehicles will significantly reduce the cost of operation and energy expenses. The lower operating costs, simple mechanism and low maintenance make EVs a winning proposition for the last-mile delivery service providers.”

Commenting on the partnership, Param Mandloi, Co-Founder of CBPL said, “Our e-commerce and last-mile delivery services are designed to meet the needs of modern consumers who demand fast, reliable, and eco-friendly delivery options. Our electric delivery vehicles make it easy for businesses to meet their customers' needs while minimising their impact on the environment. In Blive, we have an able partner to drive this mission forward while making mobility cleaner and greener.”

CBPL’s proven expertise in operations and managing after sales-service, coupled with its strong presence across 15 cities, especially Tier II cities, helps CBPL manage its operations efficiently. As part of the deal, CBPL will be responsible to ensure the same on-ground post the deployment of EVs. Blive – as one of the largest and growing electric EV platforms in the country - will add value through marketing activities and provide end-to-end tech solutions to help the deployment of EVs while parallelly driving high return on investment for its partner - Chartered Bike Private Limited.

About BLive

BLive is India’s first Multi-brand EV platform offering a wide range of EV products and services on a digital platform www.bliveEVstore.com With over 40 brands listed on its platform, BLive offers an omnichannel experience to its buyers – an online E-commerce store and Premium experience stores pan India. Driving its vision to accelerate adoption of EVs – BLive is rapidly expanding its presence pan India to 100 premium Multi-brand Stores by ’24 offering E-Scooters/ E-cycles/ Delivery Ebikes and many more unique form factors. BLive facilitates EV adoption for personal usage as well as businesses by providing seamless Charging infrastructure, Post sales service as well as easy finance options to its customers.

Archana Khosla Burman takes over as the Chairperson of Mumbai Chapter of FICCI Ladies Organisation

To Lead the Mumbai chapter for the year 2023-24 based on the overarching theme of Democratizing Access with Awareness, Skill and Opportunity

The Mumbai chapter of the FICCI Ladies Organisation (FLO) announced the appointment of its new Chairperson, Archana Khosla Burman, for the year 2023-24 through the national change of guard ceremony held annually at FICCI House, Delhi. The chapter marked its 20 years of operations last year in an illustrious celebration that saw participation from key women leaders.

Archana Khosla Burman -  Chairperson - FICCI FLO Mumbai

Archana Khosla Burman is a Founder Partner of VERTICES PARTNERS, one of the leading corporate law firms headquartered in Mumbai, with offices in Gurugram and Bengaluru. Her practice areas include Corporate Commercial Law, Venture Capital and Private Equity Investments.

Passionate about Women Empowerment, she has introduced unique but fundamental initiatives to promote good work practices for women. These include #MenstruationMatters and Period Leave that hold international importance within the narrative of women empowerment. She also works closely with organisations to empower women and mentors and advises budding and seasoned entrepreneurs on several startup and investment forums. Archana sits on the advisory board of several start-ups and new age entrepreneurial ventures.

On her appointment, Archana Khosla Burman, said, “FLO is a reservoir of varied and powerful impact programs that make tremendous contribution to the women empowerment narrative. Honoured to take on the chairperson role of Mumbai chapter, we have a trifecta mission of Women & Youth Entrepreneurship, Upskilling and Social-economic development to further the cause of all-round, advancement of the region under the overarching theme of Democratizing Access with Awareness, Skill and Opportunity”

Outlining her goals for 2023-24, she said, “This year, we aim to engage with more women and youth in urban, rural, as well as underprivileged sections of the society through deeper experiential initiatives. We are bringing special focus on facilitating a level-playing field for women and girls with barriers; making entrepreneurship a reality for women at all levels of the society, starting right from the youth; and the rural holistic development for encouraging socio-economic participation at each level of the society. We also aim to transform the lives of women and youth in the rural areas through vocational training, awareness on sustainable farming practices, health & wellness drives, as well as awareness drives on legal rights and duties.”

Archana has also announced her core committee members, which constitute of Senior Vice-Chairperson, the National Film Award Winning Designer, Neeta Lulla, Vice-Chairperson and entrepreneur in the STEM field, Pooja Arambhan, , Treasurer, Chief Business Strategy Officer in the FinTech space, Upasna Batra, Secretary, social entrepreneur, Seema Saroj, Joint Treasurer, entrepreneur in lifestyle segment, Sheetal Desai, and Joint Secretary, a social impact maker, Heena Shah.

Archana has been associated with FICCI FLO for the past several years and has curated various initiatives like 360-degree impact programs for Incubation & Mentorship and startup entrepreneurs. As a core member at the FICCI FLO national level, she is a part of a high-power team that promotes women in the business eco-system as both, FLOpreneurs i.e., women entrepreneurs as well as FLO Angels, i.e. angel investors. In 2021, Archana was selected to lead the FLO National Startup Cell cohort as the National Head of Programming and Collaborations for two consecutive years. She also led the Virtual Incubator portfolio responsible for signing MOU’s with various external accelerators and relevant players in the field. In the past, she has spearheaded Startup Caravan, a workshop series for new and aspiring entrepreneurs curated by FICCI FLO Mumbai and Vertices Partners.

Archana has been recognized as Forbes Top Lawyers in Private Equity, Venture Capital, Joint Ventures and M&A and awarded ET Leaders of Change 2021 as the country’s leading lawyer in PE & VC, Women Leading in Business and Women Change Makers by ET powered by Femina 2021 and Top Under 40 Alternative Investment Professionals by AIWMI. She has also been featured in Asia Legal Business (Thomson Reuters) 40 Under 40 Top Lawyers List in Asia Pacific Region and the 40 under 40 Rising Star by Legal Era. She has also been featured by ALB in Women in Law and has been awarded as the Entrepreneur of the Year 2019 by Indian Women Convention.

India’s 1st Prototype Bridge Using Indigenous 3D Printing Technology Developed By Simpliforge Creations and IIT Hyderabad

• A prototype of India’s first 3D Printed Bridge was developed and is being load tested.
• Material and printing technology developed by Simpliforge Creations, a startup company in collaboration with IIT Hyderabad.
• The bridge designed by IIT Hyderabad presents an efficient structural form that was optimized for strength and performance.
• Technology demonstration for 3D printing technology for form-efficient structures in transportation sector.

A prototype 3D printed bridge has been developed and printed as a collaboration between IIT Hyderabad and Simpliforge Creations. The concept and design were developed and evaluated by Prof. K.V.L. Subramaniam and his research group, Department of Civil Engineering, IIT Hyderabad.

The bridge was printed by Simpliforge, a startup company specializing in providing 3D concrete printing solutions. Designed as a pedestrian bridge, the prototype bridge is undergoing load testing and evaluation for functional use. The bridge has been designed at IIT Hyderabad broadly following form optimization to minimize the use of concrete and reinforcement.

The concept of the bridge was developed following the concept of ‘Material follows Force’. Simpliforge Creations developed an extrusion and software system specifically for the project to fully exhibit the merits of their 3D printing system.

Using the Industrial robotic arm 3d printer, the bridge was printed off-site in little under 2 hours at Simpliforge Printing facility and assembled on site at Charvitha Meadows, Siddipet.

 

Enlisting the uniqueness of the 3D Printing technology, Prof K.V.L. Subramaniam, IITH, said, “3D concrete printing is an emerging technology has the potential for transforming the construction industry with the promise of rapid, efficient, and free-form construction. Technology application in this space requires advancements in design methodologies, material processing, and delivery systems.”

“We are proud to have been a part of this ground-breaking project” said Mr. Hari Krishna Jeedipalli, Managing Director, Simpliforge Creations. “This bridge is a testament to the capabilities of 3D construction printing technology and its potential applications in infrastructural requirements, defense, and disaster scenarios owing to its speed and ease. We hope that this project will inspire others to explore the possibilities of 3D concrete printing in infrastructure and other industries.”

Simpliforge is a holistic additive manufacturing Solutions Company with capabilities for Technology Development, System Integration and Service Solutions. Simpliforge provides complete prototyping and manufacturing solutions for products spanning the FMCG sector to niche domains. For Construction Industry, Simpliforge provides Technology & Materials Development, Equipment manufacturing & Integration and End-to-end construction solutions. Powered by manufacturing domain experts, localized production facilities and international design experts, Simpliforge delivers services in the afore mentioned domains.

Textify and Pexitics Join Forces to Enhance Career Development in AI and Analytics

Textify, an AI startup with expertise in Artificial Intelligence, Machine Learning, Deep Learning, Data Science, and Predictive Analytics, has partnered with Pexitics, a Talent and People Insights firm with its Talent Assessment and Surveys tool - PexiTest.com, to enhance their online marketing efforts.

The team-up promises an array of professional development opportunities on AI, ML, DS, and analytics, enlightening perspectives on People and Talent Analytics, and glowing recommendations for the PExiTest system.

Pexitics clients can now benefit from Textify's AI membership, which offers access to cutting-edge AI tools and resources to help them become more productive and efficient in their work.

"We are excited to partner with Pexitics to enhance online marketing efforts," said Textify's CEO, Chirag Jain "The collaboration with Pexitics, a company with expertise in psychometry and data analytics, will enable us to reach a wider audience and provide valuable career guidance to students and professionals interested in AI, ML, DS, and analytics."

Commenting on the partnership, Pexitics Co- founder Subhashini Sharma Tripathi said, "We are thrilled to collaborate with Textify, an AI startup with expertise in Artificial Intelligence, Machine Learning, Deep Learning, Data Science, and Predictive Analytics. Through this partnership, we aim to provide valuable career guidance to students and professionals interested in AI, ML, DS, and analytics."

About Textify:

Textify is an AI startup with expertise in Artificial Intelligence, Machine Learning, Deep Learning, Data Science, and Predictive Analytics. The company provides an AI membership for one-stop access to all popular AI tools for education, HR, and productivity.

About Pexitics:

Pexitics is a Talent and People Insights firm with its Talent Assessment and Surveys tool - PexiTest.com. The company leverages the power of psychometry and data analytics to help organizations drive profitability. Their assessments and surveys engage with customers and employees to measure psychometric attributes, beliefs, and behavior.

BharatPe Group Partners with Women Entrepreneurship Platform to Foster Women Entrepreneurship in India

https://ift.tt/Jqa608e

Business Wire India
BharatPe Group, one of India’s leading names in fintech industry, today announced its partnership with Women Entrepreneurship Platform (WEP) with the objective of enabling women entrepreneurs across India in their journeys of self-reliance and business growth. The partnership aims to build a robust ecosystem that brings together women entrepreneurs from different parts of India and equips them with the required domain knowledge as well as the financial and technical know-how needed to fulfill their business goals. The core focus area will be facilitating the development of a first-of-its kind aggregator platform that gives access to peer support, mentorship, networking channels and a wide range of learning resources.
 
Launched under ‘BharatPe Cares’, a corporate social responsibility initiative by BharatPeGroup, this partnership is in line with the Group’s brand purpose to empower lives through inclusive, innovative and reliable fintech solutions. This specific initiative rests under the CSR program of PAYBACK, a BharatPe company.
 
According to the sixth economic census by the Ministry of Statistics and Programme Implementation, women comprise only 13.76% of the total entrepreneurs in India, which is 8.05 million out of the total 58.5 million entrepreneurs. The figure indicates that women entrepreneurs need to be empowered so they can follow their dreams. With this in mind, the partnership aims to address the constraining barriers faced by women entrepreneurs across the landscape in India and facilitate a level playing field wherein women enjoy equal opportunities for growth.
 
Speaking on this announcement, Nalin Negi, CFO and interim CEO, BharatPe, said, “While India is a startup and unicorn hub, the share of women entrepreneurs in the country still remains low. I strongly believe that there is a huge untapped potential for unlocking entrepreneurship among women in India. WEP has an impeccable body of work towards driving women entrepreneurship in the country, and we are proud to partner with them on our shared vision of enabling women entrepreneurs to catalyze the growth of their businesses.”
 
Nalin adds, “As a homegrown fintech, our regular engagement with women solopreneurs and small business owners has helped us understand the challenges faced from their lens- the most important being lack of access to financial know-how, networking channels, mentorship and fundraising opportunities. Also, as per an industry report, women entrepreneurs in India can generate 150-170 million jobs by 2030, which is more than 25% of the new jobs required for the entire working-age population. Thus, driving women entrepreneurship would boost the economy through job creation, and is critical to building India as a US$ 5 trillion economy. Our partnership with WEP is aimed at facilitating the development of a plug-and-play digital infrastructure to address the existing gaps and aid the growth of women entrepreneurs.”
 
Commenting on the partnership, Anna Roy, Mission Director, WEP, said, “The entrepreneurial ecosystem in India is thriving but women-led businesses still need a lot of support to help scale businesses, and more so due to social biases. Women entrepreneurs across the country face an unfair disadvantage due to exclusion from networking channels and mentorship opportunities. Women entrepreneurship platform is a public private initiative that aims at providing a continuum of support to women entrepreneurs by leveraging the network of various stakeholders who are part of the ecosystem. The idea is to make these connect seamlessly across board, overcome information asymmetry and empower women by giving them the right information at the right time. With the partnership with BharatPe Group, WEP adds another important stakeholder to this vast and growing network of partner organizations that will help combine the effort of both the industry players towards leveling the playing field for women entrepreneurs as well as expanding the funnel to get more women to start their own enterprises.”
 
BharatPe will also facilitate the development of learning sources curated around specific sectors to support capability development and equip women entrepreneurs with the required domain knowledge to scale their businesses.

BharatPe Group Partners with Women Entrepreneurship Platform to Foster Women Entrepreneurship in India

https://ift.tt/Jqa608e

Business Wire India
BharatPe Group, one of India’s leading names in fintech industry, today announced its partnership with Women Entrepreneurship Platform (WEP) with the objective of enabling women entrepreneurs across India in their journeys of self-reliance and business growth. The partnership aims to build a robust ecosystem that brings together women entrepreneurs from different parts of India and equips them with the required domain knowledge as well as the financial and technical know-how needed to fulfill their business goals. The core focus area will be facilitating the development of a first-of-its kind aggregator platform that gives access to peer support, mentorship, networking channels and a wide range of learning resources.
 
Launched under ‘BharatPe Cares’, a corporate social responsibility initiative by BharatPeGroup, this partnership is in line with the Group’s brand purpose to empower lives through inclusive, innovative and reliable fintech solutions. This specific initiative rests under the CSR program of PAYBACK, a BharatPe company.
 
According to the sixth economic census by the Ministry of Statistics and Programme Implementation, women comprise only 13.76% of the total entrepreneurs in India, which is 8.05 million out of the total 58.5 million entrepreneurs. The figure indicates that women entrepreneurs need to be empowered so they can follow their dreams. With this in mind, the partnership aims to address the constraining barriers faced by women entrepreneurs across the landscape in India and facilitate a level playing field wherein women enjoy equal opportunities for growth.
 
Speaking on this announcement, Nalin Negi, CFO and interim CEO, BharatPe, said, “While India is a startup and unicorn hub, the share of women entrepreneurs in the country still remains low. I strongly believe that there is a huge untapped potential for unlocking entrepreneurship among women in India. WEP has an impeccable body of work towards driving women entrepreneurship in the country, and we are proud to partner with them on our shared vision of enabling women entrepreneurs to catalyze the growth of their businesses.”
 
Nalin adds, “As a homegrown fintech, our regular engagement with women solopreneurs and small business owners has helped us understand the challenges faced from their lens- the most important being lack of access to financial know-how, networking channels, mentorship and fundraising opportunities. Also, as per an industry report, women entrepreneurs in India can generate 150-170 million jobs by 2030, which is more than 25% of the new jobs required for the entire working-age population. Thus, driving women entrepreneurship would boost the economy through job creation, and is critical to building India as a US$ 5 trillion economy. Our partnership with WEP is aimed at facilitating the development of a plug-and-play digital infrastructure to address the existing gaps and aid the growth of women entrepreneurs.”
 
Commenting on the partnership, Anna Roy, Mission Director, WEP, said, “The entrepreneurial ecosystem in India is thriving but women-led businesses still need a lot of support to help scale businesses, and more so due to social biases. Women entrepreneurs across the country face an unfair disadvantage due to exclusion from networking channels and mentorship opportunities. Women entrepreneurship platform is a public private initiative that aims at providing a continuum of support to women entrepreneurs by leveraging the network of various stakeholders who are part of the ecosystem. The idea is to make these connect seamlessly across board, overcome information asymmetry and empower women by giving them the right information at the right time. With the partnership with BharatPe Group, WEP adds another important stakeholder to this vast and growing network of partner organizations that will help combine the effort of both the industry players towards leveling the playing field for women entrepreneurs as well as expanding the funnel to get more women to start their own enterprises.”
 
BharatPe will also facilitate the development of learning sources curated around specific sectors to support capability development and equip women entrepreneurs with the required domain knowledge to scale their businesses.

Continuous evolution key to successful organizational transformation, says MIT Technology Review Insights report

CAMBRIDGE, Mass., March 29, 2023 /PRNewswire/ -- A new report by MIT Technology Review Insights seeks to understand how organizations approach transformation and the obstacles they encounter in adapting to a continually changing business and technology environment. The report, "Evolutionary organizations reimagine the future," is produced in partnership with Thoughtworks and draws on a survey of 275 executives and business leaders along with in-depth interviews with digital transformation, business strategy, and emerging technology experts from organizations including Prudential Financial, PEXA, and INSEAD. The findings are as follows: Digital transformation is not solely a technology issue. Adopting new technology for its own sake does not set the organization up to continue to adapt to changing circumstances. Among survey respondents, however, transformation is still synonymous with tech, with 70% planning a new technology adoption in the next year, but only 41% pursuing changes to their business model. The business environment is changing faster than many leaders think. Most survey respondents (81%) believe their organization is more adaptable than average and nearly all (89%) say that they're keeping up with or ahead of their competitors—suggesting a wide gap between the rapidly evolving reality and executives' perceptions of their preparedness. All organizations must build capabilities for continuous reinvention. The only way to keep up is for organizations to continually change and evolve, but most traditional businesses lack the strategic flexibility necessary to do this. Nearly half of business leaders outside the C-suite (44%), for example, say organizational structure, silos, or hierarchy are the number-one obstacle to transformation at their firm. Focusing on customer value and empowering employees are keys to organizational evolution. The most successful transformations prioritize creating customer value and enhancing customer and employee experience. Meeting evolving customer needs is the constant source of value in a world where everything is changing. However, many traditional organizations fail to take this long view, with only 15% of respondents most concerned about failing to meet customer expectations if they fail to transform. Rapid experimentation requires the mindset to accept failure and the ability to recover quickly. Organizations agree that iterative, experimental processes are essential to finding the right solutions, with 81% saying they have adopted agile practices. Fewer are confident, however, in their ability to execute decisions quickly (76%)—or to shut down initiatives that aren't working (60%). Evolutionary organizations will succeed in the future. Companies that develop the capability to repeatedly reinvent what they do—not just the technology they use to do it—will be most prepared to respond to future disruptive technologies, market ecosystem changes, and societal shifts. When adaptive structures and mindsets are woven into strategies and operating models, organizational value is created and extends beyond that of a single digital transformation initiative. "Successful transformation requires more than just adopting new technology—it demands a focus on building an organization's capability for continual evolution," says Laurel Ruma, global director of custom content for MIT Technology Review. "Enterprises that develop the ability to repeatedly reinvent themselves will be the ones to succeed in the future." "Transformation suggests there's a beginning and an end. Yet this research shows that organizations must constantly evolve and adapt to changing market dynamics and customer needs," said  Marcelo  De Santis, Chief Digital Officer, Thoughtworks. "For the modern digital business, transformation is a continuous series of 'experiments' in pursuit of building an 'evolutionary mindset' organically throughout all levels of the organization - one shift at a time." To download the report, click here. For more information please contact: Natasha Conteh Head of communications MIT Technology Review Insights natasha.conteh@technologyreview.com  For general enquiries: insights@technologyreview.com About MIT Technology Review Insights MIT Technology Review Insights is the custom publishing division of MIT Technology Review, the world's longest-running technology magazine, backed by the world's foremost technology institution—producing live events and research on the leading technology and business challenges of the day. Insights conducts qualitative and quantitative research and analysis in the US and abroad and publishes a wide variety of content, including articles, reports, infographics, videos, and podcasts. And through its growing MIT Technology Review Global Insights Panel, Insights has unparalleled access to senior-level executives, innovators, and entrepreneurs worldwide for surveys and in-depth interviews. Logo - https://mma.prnewswire.com/media/831545/3961412/MIT_Technology_Review_Insights_Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/continuous-evolution-key-to-successful-organizational-transformation-says-mit-technology-review-insights-report-301784476.html

Competitive Test Prep Company ixamBee Raises INR 5.0 Cr in Pre-series A Led by Inflection Point Ventures

iXambee's Founders - Chandraprakash Joshi, Arunima Sinha , Sandeep Singh

• ixamBee is an online learning company that provides quality education to millions of students preparing for competitive exams, currently focusing on government job preparation.
• ixamBee provides online learning courses for exams such as the regulatory body exams, banking and insurance exams, the SSC exam, and others.
• The funds raised will be utilised in marketing, content development, and technology.
• Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 170+ deals.

ixamBee, an online learning platform that makes exam preparation 50% faster, has raised Rs.5 crore in a Pre-Series A from Inflection Point Ventures (IPV). SAN Angels, other angel investors and existing investors including Mumbai Angels, and Keyur Joshi (co-founder of MakeMyTrip) also participated in the funding round. The funds raised will be utilized in marketing, content development, and technology.

ixamBee is a rapidly growing ed-tech startup aiming to revolutionize the way students prepare for competitive exams. Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh founded ixamBee in 2017. The three founders bring complementary and unique skill sets. Chandraprakash has team building and business development experience; Sandeep is a tech whiz and start-up entrepreneur; and Arunima has teaching and content creation as her domain areas.

Vinay Bansal, Founder & CEO, Inflection Point Venture says, "The ed-tech market for higher education continues to grow and is one of the fastest-growing segments within ed-tech. ixamBee is addressing an ever-growing market opportunity as lakhs of aspirants appear for competitive exams every year. The preparation for such exams is nothing short of an unrelenting focus. ixamBee is helping millions of students have access to exam papers and notes to prepare for their careers. We are aligned with the purpose of their business and chose to invest in the company."

The company's flagship product is an online platform that enables students to prepare 50% faster for recruitment exams at RBI, SEBI, NABARD, public sector banks, insurance companies, SSC, and other PSUs, among others. ixamBee Learning Experience (iLX) is a combination of a comprehensive range of study materials, practice tests, and interactive learning tools. The platform is intended to provide students with a personalized learning experience that is tailored to their specific needs and learning style by tracking their progress and providing real-time feedback using advanced algorithms and data analytics. The company is the only platform to provide 100+ mock exams for free to its users.

Chandraprakash Joshi, Co-Founder, ixamBee, says, "IPV’s due diligence is driven by a deep understanding of the sector. During the process of doing the unit cost analysis, we learned new insights about our business. We have also piloted a new business opportunity by leveraging the data of about 2 million registered students at ixamBee. The current environment is very favorable for the business growth of ixamBee. This funding is going to enable us to grow our reach fivefold and help small students get their dream jobs."

One of the most important aspects of the ixamBee platform is its extensive library of high-quality video lectures delivered by experienced teachers and industry experts. These lectures cover all the major topics and concepts tested in competitive exams, making it easier for students to understand complex concepts and prepare effectively.

In addition to its online platform, ixamBee offers classroom coaching and test series programs for students who prefer a more traditional learning approach. These programs are conducted by experienced faculty members and are available in select cities across India.

Since its inception, ixamBee has been on a growth trajectory, thanks to its innovative approach to education and its commitment to providing students with the best possible learning experience. With the Indian ed-tech industry expected to grow at a CAGR of 39% over the next five years, ixamBee is well-positioned to capitalize on the growing demand for high-quality online learning solutions. As the company continues to expand its product offerings and reach more students across the country, it is poised to become a major player in the Indian edtech space.

About ixamBee-

ixamBee is building the largest job platform for students in Tiers 2 and 3, for whom a government job is the first preference. ixamBee Learning Experience (iLX) provides 50% faster preparation for success in competitive exams.

In the current times of information overload is a major problem. ixamBee provides crisp and only exam relevant study content to our users. ixamBee’s educational experts create learning content after in-depth and thorough research and provide personalised guidance that helps users ace competitive exams seamlessly. ixamBee is a team consisting of professionals who have previously worked in the IT, banking, and finance sectors (RBI, MakeMyTrip, SIDBI, ICICI Bank, CARE Rating, HDFC Bank) and have graduated from top institutes such as IIM Ahmedabad, ISB Hyderabad, IIT Roorkee, Delhi University, and others.

The three founders, Chandraprakash, Arunima, and Sandeep, bring diverse skills. Chandraprakash has experience in team building and business development; Sandeep is a tech wiz and start-up entrepreneur; and Arunima has experience in teaching and content creation. Three founders have been building the ixamBee Learning Experience for the last six years.

Inflection Point Ventures (IPV) is an angel investing platform with over 7,400 CXOs, HNIs, and professionals who together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.

L&T Technology Services and Ansys Set up CoE for Digital Twin

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Business Wire India
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure-play engineering services company, and Ansys, a global leader and pioneer of Multiphysics engineering simulation software have signed an MOU to establish the LTTS-Ansys Center of Excellence (CoE) for Digital Twin. The center will support LTTS in demonstrating industry use cases, develop future facing solutions, and enable its customers to optimize design, manufacturing, and supply chain processes. Ansys' Twin Builder solution will allow LTTS to further expand its market share in digital twin areas.   

The digital twin market is valued at $6.5 billion and is expected to reach $125.7 billion by 2030, growing at a CAGR of 39.48%. The CoE will help LTTS showcase digital twin proofs of concept to its customers and speed up their adoption. The collaboration will enable LTTS to meet the growing demand for digital twin solutions and provide access to emerging talent in the technology market.

The joint efforts of Ansys and L&T Technology Services will create opportunities for innovation and growth in the digital twin industry, providing a new level of insight and control to manufacturers. With the digital twin market projected to experience exponential growth in the coming years, this collaboration positions both companies at the forefront of the trend. The collaboration demonstrates the commitment of both organizations in providing the most advanced and effective digital twin solutions to customers in manufacturing and industrial sectors. The establishment of the CoE marks the beginning of a long-term partnership aimed at shaping the future of the digital twin industry.

LTTS recently launched its next-generation IoT-based engineering practice on Digital Twins and is expected to derive extreme value from this collaboration to bring the benefits of digital twins to a range of industries, from oil and gas to automotive, aerospace, and defense, among others. Digital twins offer the potential to transform manufacturing businesses by enabling predictive maintenance, saving on warranty and insurance costs, and optimizing product operations. By leveraging Ansys' simulation tools, the CoE will help accelerate the digital thread for manufacturing and industrial enterprises.

Speaking about the collaboration, Prith Banerjee, Chief Technology Officer, Ansys, said: “We are very excited to collaborate with LTTS on addressing the challenges and needs for the Digital Twin market. LTTS has demonstrable expertise in creating next generation Digital Twins and Ansys, through this CoE, will further help LTTS accelerate and develop advanced Digital Twin simulation capabilities. I believe that this collaboration will enable LTTS to address the growing demand from customers for new age manufacturing practices and deliver strong value to the growing market for Digital Twin solutions.”

“Digital twin opens up fascinating new possibilities in the Industrial Internet of Things with positive outcomes for product design, development and manufacturing. We are pleased to collaborate with Ansys which will help our customers visualize every aspect of production and gain actionable insights. With Ansys’ simulation tools, we will be able to accelerate the digital thread of enterprises across manufacturing and industrial segments in particular. This association with Ansys will help accelerate the adoption of digital twin technologies and solve complex problems for our global clientele,” added Abhishek Sinha, Chief Operating Officer and Board Member at L&T Technology Services Limited.

L&T Technology Services and Ansys Set up CoE for Digital Twin

https://ift.tt/Jqa608e

Business Wire India
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure-play engineering services company, and Ansys, a global leader and pioneer of Multiphysics engineering simulation software have signed an MOU to establish the LTTS-Ansys Center of Excellence (CoE) for Digital Twin. The center will support LTTS in demonstrating industry use cases, develop future facing solutions, and enable its customers to optimize design, manufacturing, and supply chain processes. Ansys' Twin Builder solution will allow LTTS to further expand its market share in digital twin areas.   

The digital twin market is valued at $6.5 billion and is expected to reach $125.7 billion by 2030, growing at a CAGR of 39.48%. The CoE will help LTTS showcase digital twin proofs of concept to its customers and speed up their adoption. The collaboration will enable LTTS to meet the growing demand for digital twin solutions and provide access to emerging talent in the technology market.

The joint efforts of Ansys and L&T Technology Services will create opportunities for innovation and growth in the digital twin industry, providing a new level of insight and control to manufacturers. With the digital twin market projected to experience exponential growth in the coming years, this collaboration positions both companies at the forefront of the trend. The collaboration demonstrates the commitment of both organizations in providing the most advanced and effective digital twin solutions to customers in manufacturing and industrial sectors. The establishment of the CoE marks the beginning of a long-term partnership aimed at shaping the future of the digital twin industry.

LTTS recently launched its next-generation IoT-based engineering practice on Digital Twins and is expected to derive extreme value from this collaboration to bring the benefits of digital twins to a range of industries, from oil and gas to automotive, aerospace, and defense, among others. Digital twins offer the potential to transform manufacturing businesses by enabling predictive maintenance, saving on warranty and insurance costs, and optimizing product operations. By leveraging Ansys' simulation tools, the CoE will help accelerate the digital thread for manufacturing and industrial enterprises.

Speaking about the collaboration, Prith Banerjee, Chief Technology Officer, Ansys, said: “We are very excited to collaborate with LTTS on addressing the challenges and needs for the Digital Twin market. LTTS has demonstrable expertise in creating next generation Digital Twins and Ansys, through this CoE, will further help LTTS accelerate and develop advanced Digital Twin simulation capabilities. I believe that this collaboration will enable LTTS to address the growing demand from customers for new age manufacturing practices and deliver strong value to the growing market for Digital Twin solutions.”

“Digital twin opens up fascinating new possibilities in the Industrial Internet of Things with positive outcomes for product design, development and manufacturing. We are pleased to collaborate with Ansys which will help our customers visualize every aspect of production and gain actionable insights. With Ansys’ simulation tools, we will be able to accelerate the digital thread of enterprises across manufacturing and industrial segments in particular. This association with Ansys will help accelerate the adoption of digital twin technologies and solve complex problems for our global clientele,” added Abhishek Sinha, Chief Operating Officer and Board Member at L&T Technology Services Limited.

Vortexa and Energy Aspects Announce Strategic Partnership

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Business Wire India

Energy Aspects (EA) and Vortexa today announced a new strategic partnership that combines industry leading energy commodity data and intelligence with best in class cargo tracking analytics to provide energy markets with even greater understanding of short-term market dynamics.

 

Under the partnership, EA will use Vortexa’s market leading cargo tracking analytics as an input to its world-class research and analysis on global crude, refined products and LNG markets. The partnership will help bring increased clarity to energy markets during a time of historic complexity, volatility and transition.

 

“We are pleased to announce that Vortexa is our new preferred third-party provider of global flows data”, said Fredrik Fosse, Chief Executive at Energy Aspects. "Trusted data is key to our best-in-class fundamental analytics, and it's important for us to benchmark and complement our primary data sources with those of the leading third-party providers."

 

“We are very excited to partner with Energy Aspects. Their stellar reputation and global reach across energy markets, now powered by the breadth and depth of Vortexa analytics will drive increased value to our clients and partners. We are proud of this clear endorsement of Vortexa’s best-in-class data in energy and freight analytics as compared to other legacy providers'' said Fabio Kuhn, Founder & CEO, Vortexa.

 

Ends

 

About Energy Aspects

 

Energy Aspects was founded in 2012 by energy industry experts Dr. Amrita Sen, Fredrik Fosse, and Richard Bronze to meet the need for timely, independent research that provides deep dives in energy market and macro fundamentals, grounded on robust data and timely forecasts, all while maintaining a commitment to timeliness and precision. Over 500 organisations rely on Energy Aspects’ broad product range covering short-term, long-term, and macro trends, and direct access to analysts for specific queries. It is headquartered in London with additional offices in New York, Houston, Singapore, Tokyo, Kolkata, Vienna, and Athens.

 

About Vortexa

 

Vortexa provides market-leading real-time data and advanced analytics for energy and freight markets. With the most accurate and complete picture of global flows, freight and inventories, Vortexa covers crude oil, refined products, LPG and LNG, across all vessel classes. We help traders, analysts and freight professionals gain a competitive edge into complex and opaque markets by making better trading decisions with confidence. Vortexa is a multidisciplinary force of over 115 employees combining the best of energy and freight expertise, data science and engineering across major hubs in London, Singapore, Houston, New York City and the UAE.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005124/en/

Amid Rumours of Charges on UPI Payments, NPCI Says "UPI is Free, Fast, Secure and Seamless"

Every month, over 8 billion transactions are processed free for customers and merchants using bank-accounts

In the recent times, UPI has emerged as preferred mode of digital payment by offering free, fast, secure and seamless experience. Traditionally, the most preferred method of UPI transactions is linking the Bank account in any UPI enabled app for making payments which contributes over 99.9% of total UPI transactions. These Bank account-to-account transactions continue to remain free for Customers and Merchants.

Recent regulatory guidelines, the Prepaid Payment Instruments (PPI Wallets) have been permitted to be part of interoperable UPI ecosystem. In view of this NPCI has now permitted the PPI wallets to be part of interoperable UPI ecosystem. The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account based UPI payments (i.e. normal UPI payments).

With this addition to UPI, the Customers will have the choice of using any bank accounts, RuPay Credit card and prepaid wallets on UPI enabled apps.

Most recently, NPCI has partnered with key aggregators like BharatPe, Cashfree Payments, Google Pay, Razorpay, Paytm, PayU and Pine Labs in order to enable merchant transactions through RuPay credit cards on UPI in the Indian market.

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag) and Bharat BillPay.

NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

Krish-e, a Mahindra’s AgTech Business Launches IoT Based Smart Kit for Farm Equipment

With the Krish-e Smart Kit, Mahindra aims to track & digitise every acre & kilometre of rental activity carried out in the country

Krish-e Mahindra’s AgTech business launched the Krish-e Smart Kit (KSK).

An after-market device, the Krish-e Smart Kit is the first-of-its-kind smart device that provides equipment owners with detailed insights of their tractors and farm equipment, through GPS enabled time tracking and remote monitoring of various parameters from the comfort of a smart phone.

Krish-e Smart Kit

Easy tracking of all brands of tractors, harvesters & rice transplanters via a smart phone or desktop  Increases operator revenue with accurate acreage measurement   Reduces fuel cost by monitoring fuel levels and alerting for fuel theft  Tracks total fleet expenses and reduces fleet maintenance cost Increases equipment security through geofencing alerts Offers advanced trip replay features Retails at an introductory price of INR 4,995

A cutting-edge offering, the Krish-e Smart Kit is developed by Carnot Technologies, an Ag-Tech start-up, founded in 2015 by four alumni from IIT Bombay in their mid-20s, who as part of the IITB racing team, developed solutions to monitor the performance of race vehicles from the pit. Today Carnot Technologies is engaged in manufacturing and retailing products and services related to internet-connected devices for monitoring performance of vehicles and equipment, with M&M Ltd. having acquired a significant stake in the company.

The Krish-e Smart Kit enables equipment owners and rental entrepreneurs to sustainably improve fleet performance, improve incomes and manage maintenance costs, while reducing tractor downtime and preventing unauthorised usage of their tractors. The Smart Kit also includes an advanced trip replay feature for tracking commercial transportation and trolley activity.

The kit is brand agnostic and can be installed on any new or old brand of tractor or farm equipment, such as harvesters, rice transplanters and self-propelled sprayers. The kit is paired with an app called the Krish-e Rental Partner App and is available on the Google Play Store. In addition to tracking and monitoring, the app also offers users access to an inventory of high-end farm machinery on a pay per use basis

Ramesh Ramachandran – Senior Vice President and Head Krish-e – Farm Equipment Sector, M&M Ltd. said, “An industry first aftermarket IoT solution, the Krish-e Smart Kit presents the smartest, most affordable and sustainable way for farmers and businesses to connect and monitor their farm equipment on the go. In its scale-up phase, with over 25,000 active users we will officially launch the Krish-e Smart Kit. Besides farmers, we invite institutions, FPO’s, government bodies and start-ups in the state to partner with us on this connected journey as we aim to digitise every acre and kilometre of rental activity. Going forward we aim to become the leading provider of connectivity for farm equipment in India.”

Pushkar Limaye – CTO, Carnot Technologies commented, “With a vision of building world-class products out of India, we came up with a small plug-and-play device for tractors to help improve their productivity using IoT, with real-time updates on smartphones. And today we are glad to see over 25,000 kits having already helped farmers digitise their businesses and adding real value on ground. And today with the official launch of the Krish-e Smart Kit, together with Mahindra, we aim to digitise Indian farming with an India-based solution, while reaching a larger audience of tractor owners and rental business owners."

So far Krish-e has over 25,000 active subscribers, 85% DAU (daily active users), spending about 55 minutes per day on the app (in season), with 70% resubscriptions post expiry of the free subscription period.

Individual farmers, institutional buyers, FPOs, and start-ups can purchase the Krish-e Smart Kit from the nearest Krish-e center, the Krish-e website, or Krish-e Sahayaks by calling 1800-266-1555 at an early bird price of INR 4,995 (including taxes and a six-month subscription package for the aforementioned services).

Launched in 2020, Krish-e is a new business vertical from Mahindra. Krish-e offers technology driven services, to minimise income potential of farmers and other value chain players sustainably. Carrying the tag line – ‘Expert Takneek. Naye Upay. Parinaam Dikhaye’, Krish-e services currently focus on the areas of Farm Advisory, Equipment Rental & Used Equipment through an omni channel presence which includes 150 Krish-e centers and app-based touch points.

Krish-e efforts have been recognised and included in the World Economic Forum’s (WEF’s) January 2023 White Paper on “Accelerating Business Action on Climate Change Adaptation” as an example on how businesses can collaborate with communities to ensure the sustainability of critical natural resources.

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.