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Bits’n’bytes: Know about startup, business news in Pune
Pune-based Bluemark Software under its Atmanirbhar Bharat Network initiative has launched ‘Ayur Promote’ platform to provide global market for ayurvedic products
‘Ayur Promote’ platform launched
Pune: City-based Bluemark Software under its Atmanirbhar Bharat Network (ABN) initiative has launched ‘Ayur Promote’ platform to provide global market for ayurvedic products. The initiative includes virtual exhibitions, consultations to reach out to global markets and related seminars. Rujuta Pujari, director, ABN said, “The demand for ayurvedic medicines has increased significantly across the globe. The number of wellness centres abroad offering treatment for various ailments and procedures like Panchakarma is also increasing. Through virtual expo, we aim to reach countries in Asia and Africa in the first phase and will hold it for the first time in March 2024.”
Karkhana.io announces ₹52.3 crore series A funding led by Arkam Ventures
Pune: Karkhana.io, a digital custom manufacturing platform for Indian manufacturing MSMEs, announced its Series A funding of ₹52.3 crore led by Arkam Ventures and Susquehanna Asia Venture Capital. The round also saw participation from existing investor Vertex Ventures Southeast Asia and India. The new funding will be used for expansion of supplier base, electronics supply chain, and business in the US and Europe. Sonam Motwani, founder-CEO, Karkhana.io, said, “Karkhana.io platform currently has a supplier network of 400+ MSMEs enabling 90+ OEMs for their contract manufacturing requirements. In the next 3 years, the company’s the vision is to empower 3000+ MSME suppliers.” Bala Srinivasa, managing director, Arkam Ventures said. “India’s manufacturing MSMEs account for 45 per cent of industrial output and 40 per cent of all exports. While there is a surge in domestic and international demand from OEMs, most small suppliers are poorly equipped to tap into new order flows, market their capabilities and find ways to maximize their capacity utilization. We were attracted to Karkhana.io team for its strength to tap into new order flows, market their capabilities and find ways to maximize their capacity utilisation while enabling a much-needed layer of trust, efficiency, and quality.”
Nihilent’s LC Singh acquires NTT Ltd’s controlling stake
Pune: Nihilent Limited, a global consulting and services company, announced a leveraged buyout of the controlling stake by its founder and promoter, LC Singh from NTT Ltd. With the acquisition, Nihilent will become a management-owned entity. The 69.16 per cent buyout was facilitated using debt financing from a consortium of leading funds. The acquisition will enhance Nihilent’s market presence, and ramp up its offering in AI, ML, XR & Generative AI. “The move allows Nihilent to regain full control and autonomy over its operations,” said LC Singh.
WinZO collaborates with professors
Pune: Vernacular skill-gaming platform WinZO is collaborating with professors from technology institutions and statistics departments of institutes such as the Indian Institutes of Technology (IIT) Delhi, IIT Kanpur, and IIT Madras, as well as the Stanford University, the California State University, among others, to establish a scientific methodology that can accurately differentiate between gaming activities requiring predominance of skill and those dependent on chance. Paavan Nanda, co-founder, WinZO said, “Recently there have been concerns on the independence of the proposed self-regulatory bodies (SRBs) in India’s online gaming sector in ensuring fair and unbiased assessments. SRBs access to confidential proprietary information of the new-age technology firms is also a potential threat to early-stage innovations. By democratizing assessment of games on skill, we aim to empower startups and lower their financial challenges - something we faced during our early years.”
Ivy Leaf launches corporate development sanctuary at Mulshi
Pune: Initiated by the Ignited Minds Society, Ivy Leaf Corporate Wellness launched a corporate development sanctuary in Mulshi as part of corporate development experiences. Dr Saroja Asthana, director, Ivy Leaf, said, “Ivy Leaf integrates ayurveda with modern corporate wellness strategies into modern corporate development programs. Our mission is to provide an environment that nurtures both personal well-being and professional excellence.”
Belden invests ₹330 crore in Pune plant
Pune: Belden Inc expanded their manufacturing facility at Chakan, Pune by investing approximately ₹330 crore. The expansion increases the company’s existing footprint by 19,000 square metres. The phase II of Chakan plant will serve as a hub for delivering products for network infrastructure solutions worldwide. “The expansion aligns with Belden’s investments and capabilities showcased at their Customer Innovation Center (CIC) and R&D/ engineering facilities in India. We are emphasising our dedication to source raw materials locally,” said Ashish Chand, president-CEO, Belden Inc. Belden manufactures ethernet switches and firewalls for industrial and building automation, connectivity solutions and assemblies of patch cords and connectors for industrial applications.
