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Bits’n’bytes: Know about business events in Pune
Speciality south Indian food brand VS Mani & Co. has raised $370K in an angel funding round, from prominent angel investors
NielsenIQ inaugurates capacity centre in Pune
Information services company NielsenIQ launched its third international capacity centre in India and the first in Pune. The Pune centre would scale up to a capacity of 1,700 people by the end of 2023.
“People, process and possibilities continue to be at the top of our minds at NielsenIQ. India is at the epicentre of our growth and transformation, and we are pleased to be inaugurating the third Hub or capability centre in the country in Pune today”, said Mohit Kapoor, Chief Technology Officer, NielsenIQ.
“The city of Pune will boost access to talent across existing and emerging technologies, empowering us to offer broader solutions in catering to our global clientele. Recruitment for the Pune hub and the centres in Chennai and Vadodara is underway, and NielsenIQ is planning to gear up its hiring in India through 2022,” he added.
“Our presence in India will play an important role in helping accelerate growth plans for the company and the industries we work with. We welcome talents in India to join our team as we scale our operations for global impact,” added Kapoor.
Intercontinental Exchange to expand Pune operations
Intercontinental Exchange, a global provider of data, technology and market infrastructure, announced expansion of the company’s Software Engineering, Customer Success and Automation Operations in India.
ICE’s office in Pune has catered to providing ICE Mortgage Technology customers with critical technical and operational infrastructure. It comprises approximately 1,100 employees and recently added two new floors, creating a spacious campus of 98,000 square feet in Cybercity, Magarpatta.
Sachi Pati, Head of ICE India said, “ICE’s Global Capability Centers (GCCs) across India now employ more than 2,000 software engineering, technology, business operations, and data professionals. This year, we are aiming to add another 500 technology experts to our team as a part of our India growth trajectory.”
Mayur Kapani, Chief Technology Officer at ICE said, “India remains a critical part of ICE’s global growth strategy. The company will focus on leveraging the talent pool in the areas of Artificial Intelligence and Machine Learning (AIML) engineers to augment how its customers use ICE’s technology, improve business processes, and reduce transaction times.”
Newrl launches tokenised equity solutions
Newrl, a public blockchain for mainstream decentralised finance (DeFi), has launched tokenised based equity solutions for unlisted companies. The platform will enable tokenisation of equity to issue ESOPs, raise funds and improve governance through smart contracts, making startup equity a more liquid asset class.
As ESOPs lack liquidity, employees do not give it priority, as they can gain value only upon buyback or the company goes public. Newrl has launched these solutions to address issues faced by unlisted companies.
Swapnil Pawar, founder, Newrl says, “Launching this ‘trust based’ network in the country will help democratise access for small organisations, startups and even individuals. This will streamline the process in which ESOPs and shares are allocated by startups and unlisted companies, encouraging owners and employees to opt for solutions which are safe, simple yet tangible.”
Chappers embarks on kiosk franchising model
Chappers, a Pune-based bespoke footwear company, has launched its third store at Seasons Mall and is now set to embark on the kiosk franchising model. The startup is also foraying into the women’s footwear segment to expand its market coverage across India.
In its endeavour to empower local craftsmen and revive the historic Indian footwear-making art for contemporary buyers, Chappers is helping people “put their best foot forward.”
Harshwardhan Patwardhan, founder, Chappers, “Unlike a typical store model where thousands of pairs of shoes are stocked, with only a handful of those selling well, and the rest eventually getting disposed of in clearance sales, we display only 25-30 selected bestsellers that are bound to catch the audience’s fancy. We empower buyers by offering them technology-driven customisation of footwear. The buyer can experience high-quality, personalised, and stylish footwear via touchscreens in the stores. In a short period, we have managed to grow rapidly and make an indelible footprint on the Indian and international bespoke shoe market.”
Zypp Electric raises $1Mn in debt funding
EV-as-a-service platform, Zypp Electric has raised $1Mn in debt funding from Northern Arc to expand its EV Fleet services. The company aims to use debt as a new expansion funnel along with current leasing strategy as they plan to deploy 1.5 Lakhs e-scooters in India by 2025. Zypp has also become the first EV logistics player to turn EBITDA positive business while also recording a 5x revenue annually. Akash Gupta, co-founder & CEO, Zypp Electric, said, “Zypp turning profitable is proof that we are on the right path and utilising our resources efficiently in the right direction. The best part is that we have achieved the EBITDA positive milestone along with a 5x revenue growth in this FY vs. last FY, also the achievement has come in when we’ve raised a fraction of capital vs. the other players in the mobility industry.”
VS Mani & Co. raises $370K in angel round
Speciality south Indian food brand VS Mani & Co. has raised $370K in an angel funding round, from prominent angel investors, including Haresh Chawla (partner, True North Co), Anupam Mittal (founder and CEO People Group), Ashish Hemrajani (founder & CEO, BookMyShow), Sidharth Rao (group CEO DentsuMB), Rajan Navani (founder & CEO JetSynthesys), actor-producer Rana Daggubati, and Sattva Group’s family office.
“Many South Indian foods are popular across the country. But there are hardly any pan-India players who have consolidated this opportunity into a comprehensive, ready-to-consume range of South Indian delicacies. We want to create a ‘national South Indian brand’, so to speak - and we have a strong brand story to facilitate this”, says co-founder GD Prasad.
Yashas Alur, co-founder and head of growth, said, “As of now, almost 90 per cent of our sales come from our own channel. We have acquired customers profitably - and with healthy repeat rates, have also proven that we have a solid product”.
“Now, the plan is to scale via online marketplaces and offline retail - not just in India, but also abroad, where there is a significant diaspora to cater to”, adds Rahul Bajaj, co-founder and head of operations.
eMedEvents raises $150k in Bridge round from We Founder Circle
Early-stage startup investor ‘We Founder Circle’ has enabled Bridge round investment worth USD 150K in eMedEvents, a continuing medical education marketplace. The brand has enabled the funds at convertible notes for a 20 per cent discount towards the next round. The startup would be using 93 per cent of the raised funds for platform expansion, and to scale up the SaaS model for healthcare professionals. The brand would also be utilising the rest of the amount raised for wider penetration in the market.
“Healthcare market is undergoing rapid evolution following the pandemic wave. We certainly need better collaborations to bring about a significant change in the system. This also requires ample support from relevant stakeholders including the investment community,” said Neeraj Tyagi, Co-founder & CEO, We Found Circle.
“This engagement holds huge scope to bring about tremendous change in the ecosystem. With this fundraise, we are eyeing to achieve some significant milestones,” said Priya Korrapati, CEO and founder of eMedEvents.
