Bits’n’bytes: Know about startup, business news in Pune
Newly elected TiE Pune chapter president Ajay Bhagwat is in discussion with and taking steps to bring in ease-of-access to institutional VC and PE investors to help city-based startup founders
TiE Pune in talks with institutional VC and PE investors
Pune: Newly elected TiE Pune chapter president Ajay Bhagwat said his organisation is in discussion with and taking steps to bring in ease-of-access to institutional VC and PE investors, to help city-based startup founders. He said that companies across various sizes need help, not just the young startups. “We need to help build good companies that are making profits and not just chase the topline. We are witnessing a funding winter, but those that are doing well are getting the money. Money chases profits, not just topline or downloads. In the past 11 years TiE Nurture has helped more than 300 startups of which 150+ have ‘graduated’.
Strata launches office asset for fractional ownership
Pune: Tech-enabled commercial real estate investment platform Strata launched its commercial office asset strategically located at Vimannagar for fractional ownership. The new investment opportunity is leased out to India’s flex working space for which Strata aims to raise a total of ₹78 crore. The property with an estimated area of 53,000 sq ft and comes with 5 years of lock-in and lease is surrounded by ecosystem of commercial landscapes and an upcoming metro line. Sudarshan Lodha, co-founder CEO, Strata said, “The asset is a combination of strategic location, high-quality property and industry-leading tenant making it an optimum investment opportunity for investors.”
FICCI session on business opportunities in Africa
Pune: Federation of Indian Chamber of Commerce and Industry (FICCI) in association with industrial development company ARISE integrated industrial platforms (IIP) organised an “Interactive session on business opportunities in West and Central Africa” in Pune. Deepak Mukhi, director, FICCI Maharashtra State Council, said, “Our aim was to make aware of the opportunities in SEZs and economic zones, financing options across 10 countries. India has emerged as one of the foremost inbound investment centres for Africa partly fuelled by the push from the Indian Government to diversify the baskets after seeing the western economies face challenges.” Nagesh Rane, marketing head, Arise IIP, said, “We want to attract exporters to set up their businesses in Africa. Post-covid the evolving geo-political situation presents Africa with lot of economic opportunities.”
Altair launches innovation experience centre
Pune: Altair announced launch of its innovation experience centre at Dhole Patil Road in Pune and showcased its state-of-the-art AI-driven technology at the Symposium on International Automotive Technology (SIAT). The Altair Innovation Experience Centre features applications related to digital twin, lightweighting, and seamless connectivity to virtual reality, and will demonstrate these technologies’ practical application in design innovation. “The centre will provide prospects and customers with a hands-on experience of Altair’s technology solutions from simulation and design to high-performance computing, data analytics, and AI,” said Vishwanath Rao, managing director for India and GCC, Altair.
Tata BlueScope Steel introduces ‘shelter for all’
Pune: Tata BlueScope Steel unveiled its “shelter for all” initiative at their Prarambh event in Pune. Anoop Kumar Trivedi, managing director, Tata BlueScope Steel, said, “We aim to enhance lives and raise awareness about critical shelter and housing issues. It is an idea that will include providing shelter to all things – living and non-living. The initiative will aim at sheltering animals, hangars for planes, docks or more for ships, metro stations, and any other needs of the society, to put it simply - anything and everything will be sheltered by our new initiative.”
Justo to manage residential mandate of over ₹7,000 crore
Justo Realfintech, leading real estate services company, will manage a residential mandate of over ₹7,000 crore in this financial year in Pune. In the last three years of its operations in the city, Justo has managed over 50 mandate projects valued at over ₹4,000 crore for leading developers like Kakkad Group, Kohinoor, Tejraj, NaikNavare, Prithvi Group, amongst other reputed brands. Pushpamitra Das, founder and director, Justo Realfintech, said, “Our all-inclusive approach of managing every aspect of the developer’s requirement have made us their preferred partners.”
Yousta opens store in city
Reliance Retail’s youth-centric fashion brand, Yousta, is making its debut in Pune. Recently, Yousta has opened a store at Aeromall, Lohegaon. Catering to the dynamic preferences of young consumers, Yousta ensures an enticing and budget-friendly shopping experience. The newly opened store in Pune will showcase a diverse range of trendy top-to-bottom ensembles, unisex and character merchandise, and weekly fashion drops through “Starring Now” collection.
Financial data management device gets patent
An innovative Internet of Things (IoT)-based financial data managing device designed specifically for the banking sector by fintech expert Hari Prasad Josyula, has been granted a patent for managing financial data. The patent titled -- “Internet of Things-Based Financial Data Managing Device in Bank”, represents a breakthrough in the way financial data is collected, processed, and managed within banking institutions.