Jan 31, 2024 | Uncategorized
The app-based ride-hailing startup also maintains a flat rate throughout the day, providing riders with a consistent and transparent fare system, regardless of the time or demand
In a bid to address the rising concerns associated with hailing an affordable cab in the city, viaDOTS, India’s first ever app-based digital meter taxi has launched the ‘saver rides’ feature. This innovative offering allows riders to navigate the city at a reduced cost, with a 15% decrease in the already competitive base fare, surpassing other ride-hailing platforms – providing an affordable and convenient transportation solution.
With an effective pricing strategy, the Bengaluru-based platform has set a competitive base price of 100 INR for the initial 4 kilometers, followed by a reasonable rate of INR 20 per kilometer thereafter. This disruptive pricing model aims to address the prevailing cost concerns associated with ride-hailing services in the tech city of India, making viaDOTS an attractive and cost-effective choice for commuters.
The app-based ride-hailing startup also maintains a flat rate throughout the day. Unlike many other cab aggregators, viaDOTS refrains from implementing surge pricing measures even during peak hours – providing riders with a consistent and transparent fare system, regardless of the time or demand.
“We are thrilled to introduce the ‘saver rides’ feature to our users in Bangalore,” said Vyshak Simha, CEO of viaDOTS. “At viaDOTS, our aim is to redefine the transportation landscape by providing an affordable, accessible, and reliable option for commuters. Our flat-fare structure also reflects our commitment towards building a cab ecosystem where the rider and driver community have the freedom to access convenient and affordable mobility around the clock.”
Launched in December 2023, viaDOTS has already onboarded over 8,000 drivers in Bengaluru and plans to expand its footprint to cities such as Delhi, Mumbai, Chennai, Kolkata, Hyderabad, Pune, Ahmedabad, Chandigarh, Indore, and Mysuru. The viaDOTS app, available for download on both iOS and Android platforms, offers a user-friendly interface, real-time tracking, and a seamless ride-booking experience. Users can now enjoy the benefits of the saver rides feature, making their daily commute more budget-friendly without compromising on quality or convenience.
Jan 31, 2024 | Uncategorized
In an exciting move that is certain to delight football fans in India, Bingo! and Sunfeast YiPPee! from ITC Ltd., have joined hands with the Argentine Football Association (AFA), as their Official Regional Sponsor.
The World Champion Argentina Football team enjoys huge fan following in India. The admiration for the team and game is significantly growing especially among the young audience. YiPPee! and Bingo! as youth-oriented brands, are all about fun, excitement, being playful, which beautifully resonates with the spirit of AFA.
As part of this strategic partnership, YiPPee! and Bingo! will harness the rich legacy of AFA to engage with consumers through a series of unique initiatives. Participants will have the chance to win match tickets, meet and greet team players, branded merchandise, memorabilia and much more. Further, through this association the brands aim to deepen their reach and offer unparalleled experience that celebrates the shared adoration for the sport.
Celebrating the partnership, the respective brands today unveiled exclusive packs featuring star players like Lionel Messi, Ángel Di María, Julián Álvarez and Emiliano Martínez, merchandise and memorabilia at an event held at ITC Sonar.
Commenting on the exciting association, Suresh Chand, Vice president & Head of Marketing, Snacks, Noodles & Pasta, ITC Foods, said, “As brands, we are constantly pursuing innovative ways to connect with our audience. Our partnership with World Champion Argentina, is a testament to our continuous efforts to delight our consumers by offering them memorable experiences. Through this collaboration, we aim to elevate the fan experience and deepen our connection with consumers, offering them unique opportunities to immerse themselves in their beloved sport.”
Echoing the excitement, Mr. Leandro Petersen, Chief Commercial and Marketing Officer of the Argentine Football Association said, “We are thrilled to welcome Bingo! and YiPPee! as our Regional Sponsor in India. Football possesses the power to transcend borders and cultures, and we are confident that this collaboration will not only amplify the love for the sport in India, but also create unforgettable experiences for fans. Together, we look forward to crafting cherished memories for fans across India.”
YiPPee! also launched a unique G.O.A.T (Greatest Offer of All Time) promo, where participants will have to sign up for the contest and share their YiPPee! happy moment with the Argentina football players to receive personalized digital memorabilia and compete to win original autographed jerseys and several other AFA branded merchandize.
So, get ready to witness the electrifying fusion of football and snacking as Bingo! YiPPee! and AFA take the field together.
Jan 31, 2024 | Uncategorized
As pioneers in AI-powered parking solutions, ParkMate anticipates robust backing from the upcoming Union Budget 2024-25. Recognizing parking challenges as a hurdle to India’s economic progress, we advocate for comprehensive support to auto-tech startups, real estate entities, and OEMs through strategic incentives. Collaborative efforts among stakeholders in parking management can transform Indian roads into smart and safe spaces. As the role of artificial intelligence in boosting the auto sector is paramount, we also call for budgetary backing for AI-focused upskilling programs. Building on past successes like the establishment of three AI Centers of Excellence, there’s a pressing need for upskilling initiatives to meet industry demands, aligning with the government’s vision of ‘Make AI in India’ and ‘Make AI Work for India.’ In addition, facilitating startup growth through streamlined regulations, simplified funding processes, and enhanced access to investors can catalyze job creation, GDP growth, and overall sector dynamism. Moreover, we hope for sustained support in streamlining compliance, further improving the ease, cost, and speed of doing business in the auto sector.
Jan 31, 2024 | Uncategorized
UGRO Capital, a leading DataTech NBFC focused on MSME lending, announced a significant milestone, having successfully raised ~INR 2,500 million through Non-Convertible Debentures (NCDs) from the prestigious Asian Development Bank (ADB). This investment underscores ADB’s unwavering commitment to fostering inclusive, resilient, and sustainable prosperity by supporting small businesses at the grassroots level.
UGRO had received financing of INR 2,500 million through Non-Convertible Debentures (NCDs) from FMO, the Dutch entrepreneurial development bank in December 2023 as well.
Over the past 5 years, UGRO Capital has played a pivotal role in bridging the credit gap within India’s MSME sector, providing credit to approximately 90,000 small businesses. A recent survey revealed that 94% of participants experienced business growth, with a remarkable 36% surge in employment post availing loans from UGRO. This tangible impact demonstrates UGRO Capital’s dedication to driving economic growth and job creation.
UGRO Capital has an asset under management of INR 83,638 million as of December 2023. Over the last 5 years, it has raised total of INR 91,378 million Equity and Debt from diverse institutional sources:
| Source of Financing |
Number of Institutions |
INR in Million |
% of Financing |
| Equity Capital Raise |
|
12,567 |
14% |
| Private Equity |
5 |
7,400 |
8% |
| Development Financial Institution |
1 |
2,400 |
3% |
| FIIs / QIB through QIP |
10 |
2,137 |
2% |
| Family Office / HNIs |
44 |
630 |
1% |
| Debt Finance Raise |
|
78,811 |
86% |
| Banks (Public & Private) |
30 |
19,338 |
21% |
| Other Domestic Financial Institutions |
21 |
14,210 |
16% |
| Development Financial Institutions and Impact funds |
7 |
7,615 |
8% |
| Co Lending, Co origination and Direct assignment/ securitization |
22 |
37,647 |
41% |
Above truly demonstrates UGRO’s ability to attract institutional equity investors and diversified debt providers across all categories of lenders which gives UGRO a path to create a large scalable financial institution serving the need of MSME borrowers in India.
UGRO Capital’s commitment to the Micro Enterprises of India, backed by its technology-driven credit expertise, has positioned the company as a reliable partner for global DFIs. This strategic diversity ensures that the NBFC’s liability remains well-distributed, not solely reliant on the Indian banking system.
Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, expressed his views on the collaboration, stating, “This transaction is a proof of UGRO Capital’s ability to forge partnerships with and attract funding from reputed global DFIs. We share a common vision of financial inclusion with impact funding organizations and are excited to collaborate with ADB to meet the diverse financial needs of India’s underserved MSMEs. Impact investors are critical funding partners in enabling us to bridge India’s massive credit gap in the MSME sector, and we will continue to leverage our technology and credit expertise to service MSMEs across the spectrum via our multi-channel distribution model.”
Suzanne Gaboury, ADB Director General for Private Sector Operations, emphasized the significance of the partnership, saying, “We are pleased to partner with UGRO Capital in their mission to empower MSMEs in India. MSME Finance is a key driver for financial inclusion, and UGRO Capital’s mission to solve the small business credit need is in line with our vision of promoting inclusive and sustainable prosperity in Asia and the Pacific. We are confident that together we will positively impact the lives of MSME borrowers. This collaboration is consistent with our commitment towards greater financial inclusion in India.”
Jan 31, 2024 | Uncategorized
Singer India Limited, a company with a 170-year legacy and a leading manufacturer of sewing machines and home appliances, announced the launch of its global bestseller – M 330, with an iconic Blue color, exclusively on Amazon India.
The M3330 strengthens and adds value to the company’s strong fashion maker portfolio. Singer India is confident that the future growth of the fashion maker line will dominantly occur in the online space, with the new segment of customers who are essentially into crafting, sewing, and becoming DIY enthusiasts, wanting to make purchases for easy to use and good-looking products with easy and convenient payment options. The company’s fashion maker line has also been witnessing a steady growth in offline channels, especially in the southern market. To support the learning of the craft of sewing and stitching, which the company believes is an important life skill just – it is offering, with every purchase of M 3330, complimentary online sewing classes valued at Rs. 2,500, allowing the customers to learn the craft anytime and anywhere.
The Singer M3330 offers a comprehensive sewing solution equipped with 97 stitch applications and an exceptionally powerful 70W motor enabling 800 stitches per minute. Its user-friendly design and advanced features ensure a highly customized stitching experience, making it convenient to be used by both beginners and professionals. In addition to its advanced features, the M3330 offers added value to customers. The machine can be purchased with easy EMI options and comes with a 2-year warranty, supplemented by after-sales services including a free home demonstration. Priced at Rs. 17,999 on Amazon India, M330 will target the rising community of DIY enthusiasts, within a market projected to reach USD 979,880 million by 2029, growing at a CAGR of 4.4%. (source: Valuates Reports).
The launch on Amazon also highlights the strategic role that digital e-commerce will play in shaping the future trajectory of the brand. So far, select models of the fashion maker portfolio are available on two of the largest ecommerce players and the company has witnessed a steady increase in sales across the two channels.
Said, Rakesh Khanna, Managing Director, and Vice Chairman of Singer India, “Singer India is embarking on a journey of growth and progress, we are introducing global bestsellers and innovative machines very soon equipped with state-of-the-art technology to strengthen our market share. With our existing fashion maker line witnessing robust growth, the introduction of the M3330, which has done well globally will add strength to our Indian portfolio and with this we have brought home a machine which has made sewing enthusiasts across key markets appreciate the ease and convenience of using the machine.”
He further added, we are placing a strong emphasis on fortifying our digital strategy, with this launch, we have the confidence in reaching to a younger audience who are looking out for products which are designed well, are functional and easy to use. With its iconic blue color and an exclusive debut on e-commerce platform, we are confident that this will evoke a strong desire among the younger set of audience aspiring to embrace the art of stitching and sewing.”
As the first big launch for the year, Singer India unveiled the launch campaign with an exciting teaser on Instagram, Facebook, x, LinkedIn and Youtube followed by the official launch video on Amazon Instagram, Facebook, X, Youtube and LinkedIn. To further generate buzz and excitement which the machine has already managed to receive in India, Singer India plans to launch a contest #TurnOldtoBold across their official Instagram, Facebook and X handles.
Jan 31, 2024 | Uncategorized
Attributed to Mr. Shankar Tekchandani, General Manager, Corporate Sales and Leasing, K Raheja Realty
Elaborating on his expectations and thoughts on the forthcoming Union Budget 2024, Mr. Shankar Tekchandani, General Manager, Corporate Sales and Leasing, K Raheja Realty shares, “We at K Raheja Realty are eagerly anticipating the unveiling of the Union Budget 2024. Foreseeing a strategic roadmap that fosters the growth, hoping that the upcoming policies stimulate the growth of luxury properties, elevating an environment for sustainable development. While we anticipate the facilitation of easier access to housing finance, we also look forward to streamlined regulations covering transparent and efficient processes.
Additionally, there is a pressing need for GST rationalization and increased home loan interest deductions to stimulate demand and foster sustainable growth.
With sustainability practices taking centre stage, the integration of smart home technologies and incorporation of wellness luxury amenities have become increasingly prominent. Anticipating policies that further nurture a cohesive environment for smart homes. Further, for the sector to reduce its carbon footprint on the environment, policies around green infrastructure and initiatives should be introduced.”
