Bits’n’bytes: Know about startup, business news in Pune
Sona BLW Precision Forgings Ltd. (Sona Comstar) inaugurated its second-largest manufacturing plant in Chakan, Pune
Venlo launches UPI-powered app for cross-border payments
Pune-based Venlo, a neo-banking platform, has launched a UPI-powered app for cross-border payment. The app enables users to share and spend in their respective currencies without maintaining multiple accounts, wallets or payment apps across the world. It allows users to have multi-currency bank accounts and spend locally through UPI in India. “I believe cross-border payments still must undergo massive disruptions. In today’s world of technology, making payments in a foreign country should be seamless and commission free. There is a need for one global app that solves almost all cross-border payment woes,” Kushal Prakash who founded the Pune headquartered neo bank in 2021 and is backed by early-stage accelerator fund 9Unicorns.
Fibe partners with Pristyn Care
Fibe (previously EarlySalary) of Pune has partnered with Pristyn Care to offer medical expense loan of up to ₹10 lakh for elective treatments on no-cost EMI under the CareNow PayLater proposition. The service is also applicable to expenses not covered by health insurance. The cost of repayment of treatment ranges from 3 months to 2 years.
Amol Maheshwari, chief distribution officer at Fibe, said, “Through this partnership, we wish to empower every Indian who needs a timely surgical intervention without the worry of finances.”
Harsimarbir Singh, co-Founder at Pristyn Care said, “Our partnership with Fibe will strengthen our patient-centric offerings and help us provide advanced medical treatments to patients.”
Sona Comstar inaugurates new plant in Chakan
Sona BLW Precision Forgings Ltd. (Sona Comstar) inaugurated its second-largest manufacturing plant in Chakan, Pune. The new plant has a production capacity of nearly 11.8 million gears, which is expected to reach 20.1 million differential gears by the end of FY25. The total investment required for the plant is estimated at ₹231 crore. Spread across 10 acres, the new plant manufactures driveline products for EV and non-EV applications and serves customers in India and globally.
Sunjay Kapur, chairman, Sona Comstar said, “With state-of-the-art technology, we are confident that this plant will set new benchmarks in the automotive industry and mark India’s eminence in manufacturing on a global platform. Sona Comstar started production of precision forged differential gears at its first plant in Bhosari in 2005.”
Cattini Transmission to invest ₹200 million setup manufacturing facility at Sanaswadi
Cattini Transmission Holding with sister company Cattini E Figlio has finalised its investments to establish a manufacturing facility in Sanaswadi, Pune, announced chairman Lorenzo Cattini. Cattini India will be investing over ₹200 million in the first phase of the project, expected to start operations and production of agricultural, construction and commercial vehicles by January 2024,” added Cattini. Thomas Mathew, Cattini India director, said, “The new facility in India will generate employment opportunities and contribute to the development of the local economy.”
Good Glamm Group onboards ecommerce enabler GoKwik
Good Glamm Group has partnered with eCommerce enabler GoKwik to expand cash-on-delivery (COD) serviceability pan India and minimise the risk of Return to Origin. GoKwik will also help the startup expand its COD serviceability in tier three and four cities and remote towns of the country.
“With the rapid growth of eCommerce in India, we recognized the need to enhance our online shopping experience by providing reliable COD service and efficient RTO management. Partnering with GoKwik has allowed us to do just that,” said Manan Jain, group chief growth officer, the Good Glamm Group.