Author: Neel Achary

Safety Insurance Group Selects One Inc to Provide Digital Claims Payments

-Implementing Digital Solutions Remain a Top Priority for Insurance in 2023-

FOLSOM, CA — {June 28, 2023} – One Inc, the leading digital payments network for the insurance industry, announced today that Safety Insurance Group (Safety) has selected One Inc’s ClaimsPay® to modernize the consumer experience and provide instant claims payment functionality to its customers. This partnership underscores the industry’s emphasis on digital payment solutions and eliminating physical check reimbursements. One Inc currently enables more than 240 insurance carriers to process over $51 billion in payments annually.

Headquartered in Boston, Massachusetts, Safety provides a full range of property and casualty insurance products and operates exclusively in Massachusetts, New Hampshire, and Maine. As part of the company’s goal to provide industry-leading ease of doing business and maximum efficiency, Safety selected One Inc’s ClaimsPay solution to streamline its entire claims disbursement process.

Through One Inc.’s ClaimsPay platform, Safety customers will have the option to receive digital payments through popular payment platforms like Venmo and PayPal, in addition to direct payment options. With integrated mobile and web platforms, Safety seeks to provide customers with a modern claims experience that uses familiar mobile technology.

“Integrating One Inc’s ClaimsPay was a natural choice as we sought to innovate this vital area of our business,” said Steve Varga, Vice President of MIS. “We are focused on modernizing property and casualty insurance and are always looking for partners that deliver modern tools to improve the customer experience. Security, speed, and ease of the process are our top priorities, and ClaimsPay will help us meet and exceed those benchmarks.”

“Instant payments deliver a required customer value proposition and a competitive advantage to insurance carriers,” said Ian Drysdale, CEO at One Inc. “As Safety Group looks to prioritize efficiency, many insurers are eyeing their claims technology to provide digital infrastructure that can help them rapidly adapt to the ever-changing needs of customers and stay ahead of the competition. We are proud that leading carriers like Safety are choosing One Inc for claims payment transformation.”

About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payments, even for the most complex insurance use cases. As one of the fastest- growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments.

About Safety

Safety Insurance Group, Inc., based in Boston, MA, is the parent of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company, Safety Northeast Insurance Company, and Safety Northeast Insurance Agency. Operating exclusively in Massachusetts, New Hampshire, and Maine, Safety is a leading writer of property and casualty insurance products, including private passenger automobile, commercial automobile, homeowners, dwelling fire, umbrella, and business owner policies.

Team “Black Justice” Launches Trailer at Press Club of India

# Acclaimed actor Mukesh Khanna lends his voice to ‘Black Justice’
# The web series aims to provoke thought and spark meaningful discussions on judicial issues

New Delhi, June 28, 2023 –

The highly anticipated trailer launch of the groundbreaking art web series, “Black Justice,” took place on June 27th at the Press Club of India in New Delhi. The event was attended by distinguished guests, including Ms. Neha Singh Rathore, a renowned Folklore Bhojpuri Singer who sang the Signature Song of “Black Justice,” and Dr. Kapil Kakar, the visionary producer behind this thought-provoking project. Mr. Mukesh Khanna, an accomplished actor who provided Dialogue Narration for the series, sent a Video Message as he was unable to join in person.

It is worth mentioning that this web series has already been nominated for 11 awards before its release, while in 2022, it emerged as the winner at the Blackboard International Film Festival and Moonlight Films International Film Fest (MWIFF).

“Black Justice” is a web series that talks about the crucial aspects of our society, offering a fresh perspective on pressing issues that resonate deeply with the interests of our country. The series has the potential to be a game-changer, addressing topics that affect our government, judiciary, and society as a whole. Under the brilliant guidance of Dr. Kapil Kakar, the writer and producer of “Black Justice,” the series has been crafted with an intent to shed light on these critical matters, provoking thought and encouraging discussions.

In his video statement, Mr. Mukesh Khanna expressed his heartfelt wishes to the entire team behind “Black Justice.” He acknowledged the potential of the webseries to bring about a positive change and commended Dr. Kapil Kakar for his profound storytelling and concept. Dr. Kakar said, it may not be Judiciary Files like Kerala File and Kashmir Files, but this Webseries has given groundbreaking reforms as a solution which is not difficult to implement. Reforms like Running courts in 2-3 Shifts which runs with additional Judges as it saves money on infrastructure and also generates employment. Mr. Khanna emphasized the impact of “Black Justice” and its ability to stimulate dialogue on the pressing issues faced by our society. His support further solidifies the series as a significant step towards social awareness and transformation.

Bhavin Wadia, the esteemed director of “Black Justice,” has a proven track record of delivering exceptional cinematic experiences. Having directed notable films such as “Marathwada” in 2016 starring the late OM Puri Ji and “Made Superstar” in 2017, Wadia brings his expertise and unique vision to this art web series, ensuring an immersive and thought-provoking narrative for the audience.

The lead actor, JP, is portrayed by the talented Vedish Zaveri, who is also set to grace the screens soon in the highly anticipated movie, “SARDAR,” where he portrays the iconic Sardar Patel.

The trailer launch of “Black Justice” marks the beginning of a journey that promises to captivate and inspire viewers with its poignant storytelling and powerful performances. As the series unfolds, audiences can expect an exploration of complex societal issues, urging them to reflect and engage in conversations that can bring about positive change.

Mr. Ashwani Upadhya, the Supreme Court Lawyer known for filing more than 50 PILs, also came out in support of the web series by addressing the media. Deepika Narayan Bhardwaj, the Award-winning Documentary Filmmaker, also addressed the media on men’s rights issues and parental alienation as portrayed in the web series, highlighting a helpless father’s fight for justice and access to his children. Additionally, Mr. Dhruv Kumar, a Supreme Court Lawyer and International Activist, previously a Journalist with BBC London, shared profound insights on judicial reforms with the media.

“Black Justice” promises to be a thought-provoking and socially impactful web series, shedding light on pressing matters that demand our attention and discussion. The team behind the series is dedicated to delivering an engaging and transformative viewing experience. Stay tuned for the release of “Black Justice” and join the conversation on critical societal and judicial issues.

Nourish You strengthens leadership, appoints Divya Gursahani as Chief Marketing and Communications Officer

28th June 2023; Hyderabad, India:

Nourish You, India’s leading superfood brand, today announces the appointment of Divya Gursahani as the company’s first Chief Marketing and Communications Officer. Divya’s appointment further strengthens Nourish You’s leadership team as it inches towards becoming India’s most loved superfood brand. Following the appointment, Nourish You will amp-up its marketing and communication initiatives, staying focussed on deepening awareness about superfoods and their benefits while positioning itself as the first start-up to introduce the concept of superfoods to Indian consumers. Home to high quality, category disruptive offerings, Nourish You’s Millet Mlk, Breakfast and Meal Mixes, Speciality Flours, and Superseeds have been crucial to the brands success in India.

Prior to Nourish You, Divya served at the content studio, By the Gram, and media houses including ELLE, and DNA. She was instrumental in developing campaigns for Netflix, Amazon, Apollo, Bumble, Tata CLiQ, and Nykaa in various capacities. As Chief Marketing and Communications Officer, Divya will spearhead the development and implementation of integrated marketing strategies, encompassing all of Nourish You’s product categories and consumer communication channels. Nourish You will focus on building a unique consumer experience, strengthen creative communication and design, and drive strategic market expansion under her guidance,

Speaking on the appointment and bolstering the leadership team at Nourish You, Krishna Reddy Co-Founder, said, “We welcome Divya as the Chief Marketing and Communications Officer to our growing team at Nourish You. Nourish You has played a pivotal role in India’s superfood story and we are sure that with her appointment we will be able to amplify our brand’s promise and drive consumer engagement, setting new industry benchmarks. We are certain that with her deep understanding of new age consumer insights and innovative approach to building digital and physical brand experiences, Nourish You will lead India’s superfood growth story through interesting and relevant storytelling.”

Speaking on joining Nourish You, Divya Gursahani said, “Nourish You has a powerful vision for the future of health and wellness in India. I am honoured to contribute to a brand that embodies such strong values and has established itself as a frontrunner in the superfood industry, with an exceptional growth trajectory. I look forward to working closely with the founding team as we march towards creating a positive impact for consumers, stakeholders including farmers and the industry at large.”

Divya will be based in Mumbai and will report to the founders office. Her appointment is effective immediately.

AWS extends the Think Big Space Program to two municipal schools in Thane to empower students with science and technology knowledge

THANE, MUMBAI; India | 28th June, 2023

Amazon Web Services (AWS) today announced the expansion of the AWS Think Big Space program in the Mumbai Metro Region by introducing it to two government-run schools in Thane, Maharashtra. The AWS Think Big Space is a focused program to enable students to cultivate an interest in Science, Technology, Engineering, Arts, and Mathematics (STEAM) disciplines. The program has been introduced to students of Thane Municipal Corporation (TMC) School number 60 and number 112, to benefit more than 220 students in the age group of six to 15 years. This marks the 20th Think Big Space to be setup in India by the AWS InCommunities program, which aims to make a positive difference to communities, especially in regions where AWS builds and operates its global cloud computing infrastructure.

AWS Think Big Spaces are labs designed to provide students from underserved communities a place beyond the classroom to explore and cultivate an interest in STEAM disciplines. These labs encourage a hands-on approach, enabling students to tinker and explore so that they can think big to solve real-world problems. The program provides learners a STEAM-based curriculum, practical knowledge sessions, and advanced learning methods. Experts in the STEAM fields take part in the program, and use the learning materials to explain STEAM-related concepts to children. The program aims to develop a generation of students who can address challenges, think critically, and solve problems for the future through early inspiration and exposure to STEAM subjects.

Abhijit Bangar, Municipal Commissioner, Thane said, “We are truly delighted with the initiative taken by AWS in bringing the Think Big Spaces program to our municipal schools. It is a significant opportunity for our students to cultivate their interest in STEAM disciplines, and a step that opens doors to tremendous opportunities for our young learners. The program’s name itself is inspiring, as it encourages students to think big and dream beyond boundaries. We are grateful that AWS chose these schools among many options available in Thane to start this program, recognizing the potential and talent within our students. Together, we will empower our children to make the best use of this platform and foster their curiosity in the fields of STEAM.”

Saji P.K., Director of Data Center Operations, Asia-Pacific, Japan and China, AWS said, “AWS is committed to making a positive impact in the communities where we operate, and help bridge the learning needs of underserved and underrepresented communities. Our Think Big Space program provides the impetus for schoolchildren to explore topics like robotics and artificial intelligence, and apply their classroom learning. Educators tell us that this program spurs creative thinking and problem-solving capabilities in students, supplementing classroom lessons. We have also seen that students who actively take part in this program have gone on to showcase their science and technology ideas in state and national-level competitions, which give them immense confidence and unique opportunities to excel. We are pleased to introduce this program in Thane, and would like to thank the Thane Municipal Corporation for their support.”

The new program by AWS InCommunities in Thane adds to the multiple initiatives already undertaken by AWS in the Mumbai Metro Region to enable access of STEAM education in fun and interactive ways, such as the launch of the AWS Think Big Space in 2020, and the AWS Think Big Science Carnival in Navi Mumbai in March this year, where more than 2,000 school students from 50 Navi Mumbai Municipal Corporation schools attended the finale showcasing innovative projects in agriculture and food safety, health and hygiene, environment conservation, renewal energy, and disaster management. AWS has previously invested INR 30,900 crores (US $3.7 billion) in the AWS Asia Pacific (Mumbai) Region between 2016 and 2022, which is estimated to have contributed more than INR 38,200 crores (US $4.6 billion) to India’s total gross domestic product (GDP), and supported approximately 39,500 full-time equivalent jobs annually in Indian businesses.

The initiatives under AWS InCommunities are focused on holistic community development, including the environment, people, and overall wellness. The AWS InCommunities program was first implemented in India in Maharashtra’s Navi Mumbai in 2018, before being extended to Telangana’s Rangareddy district in 2020. Since then, AWS InCommunities programs have focused on the development of sustainable communities by implementing impactful programs to protect wildlife and the environment, and bolster the local economy, essential education and health infrastructure, market linkages, connectivity, and other basic amenities.

Healthtech startup ‘WatchYourHealth’ secures a Series A funding round of USD 2.2 million from Conquest Global Ventures to drive global expansion

Mumbai, 28th June, 2023 – WatchYourHealth (WYH), a pioneering health tech platform, has announced that the company has raised USD 2.2 million (18.50 crores) from Conquest Global Ventures Private Limited (CGVPL), a Singapore-based Venture Capital firm, marking its first foray into the Indian market. Launched in 2015 by Ratheesh Nair (Founder and CEO), WYH works with enterprise clients in healthcare delivery and healthcare financing, leveraging SaaS platform with a phygital approach to improve health outcomes for their customers.

WYH has a remarkable track record as a bootstrapped entity, achieving profitability in FY21 and FY22. This new round of funding in FY23 will fuel the next phase of WYH’s growth and expansion plans. The funds will be allocated towards product development, geographic expansion, sales and marketing efforts, office spaces, and inventory enhancement.

Ratheesh Nair, Founder and CEO of WYH, expressed his excitement about the partnership with CGVPL, stating, “For the last seven years, WYH has been dedicated to improving the “Health of our Indian clients” alongside our B2B Shared Value Partners. As we surpassed the milestone of 10 million users on our SaaS platform at the beginning of FY24, we recognised the need to strengthen our product offerings and expand into similar geographies worldwide. We believe we have found a trusted partner in Conquest Global, who will support our growth in India and help take WYH global. We intend to expand our operations beyond India across key markets like Japan, Singapore, UAE, Indonesia and Bangladesh.”

With a consistent top-line Compound Annual Growth Rate (CAGR) of 100% over the past three years, WYH currently serves over 10 million users, offering cutting-edge consumer engagement solutions., through its B2B integrated SaaS platform.

Venkat, Managing Partner of Conquest Global Ventures VCC, shared his excitement about the partnership, stating, “Conquest is very excited to embark on this journey with Watch Your Health and participate in its Series A funding. We are convinced that Ratheesh and the WYH team are exceptionally motivated to make India healthy and promote preventive wellness. Their B2B SaaS platform is unique as it combines multiple services under one roof and makes it extremely convenient for their Enterprise clients. We look forward to partnering with them on this journey and building a global presence.”

The strategic investment from Conquest Global Ventures demonstrates their confidence in WYH’s vision and potential. The collaboration aims to drive innovation, foster global expansion, and revolutionize consumer engagement in the healthcare industry.

Economic Pressures No Match for Cloud Investment Finds Unisys Research: 65% of Enterprises Plan to Increase Spend in the Next Two Years

BLUE BELL, Pa., June 28, 2023 — Unisys (NYSE: UIS) released a new report that profiles the role of IT, cloud, and AI as business transformation continues to evolve. Despite an economic downturn, the study found that companies are determined to prioritize investments in digital capabilities to drive growth and manage costs simultaneously. However, the tension between IT and the C-suite — along with looming talent challenges and ethical concerns related to AI — continues to limit companies from unlocking their full potential in digital investments.

The research highlights critical insights, such as:

• 85% of enterprises invest in cloud technologies, but only 19% have embraced and effectively use them to improve their business.
• 15% are integrating AI into their business strategies, leaving the remaining 85% ripe for disruption.
• More than 55% of companies acknowledge they don’t fully understand the ethical impact of AI.
• 58% take a proactive approach to security weaknesses and threats; 42% are reactive.

“Embracing a cutting-edge, cloud-native, digital-first mindset will enable organizations to be more agile and unlock growth. Enterprises are facing pressures to maximize resources, and this strategic shift will inspire innovation and drive impact,” said Manju Naglapur, senior vice president of cloud, applications & infrastructure solutions at Unisys.

Cloud Spending Largely Immune from Economic Woes

Cloud is still a key driver for business growth, with 85% of companies either increasing cloud spend or planning to over the next two years. In fact, 36% are in the planning and initial adoption phase, though only 19% have reached a sophisticated level of cloud adoption. Organizations should focus on optimizing their existing cloud infrastructure to achieve greater progress and realize the value of their cloud investments.

Leaders Sound the Alarm on Talent Gaps

Despite cloud technologies acting as a catalyst for business growth, significant talent-related challenges must be addressed to manage and maximize these technologies. More than forty percent (42%) of IT leaders expressed concerns about keeping their staff up to date on new skills and technologies for cloud adoption. To do that, organizations plan to incorporate ongoing training into their workflow to upskill and re-skill their workforce. On top of that, companies are finding a gap in non-technical skills, such as communication and personal skills (34%), as well as knowledge of both technology and business strategy (32%). These needs become increasingly important as organizations navigate through their cloud adoption journey.

Businesses Look for Responsible AI Compass

To remain competitive, organizations need to ramp up their AI initiatives. Our study reveals only 15% have integrated AI into their business, leaving a significant opportunity for disruption for the remaining 85%. Not surprisingly, more than half of all companies (55%) recognize they have more to learn about the ethical implications of AI. The primary approach for most respondents (43%) to address ethical concerns is to have humans regularly review AI models and results. This approach guarantees that humans actively participate in the decision-making process, fostering a responsible and ethical approach to AI adoption.

Navigating the Cyberstorm

Breaches are an inevitable reality for every company, and 78% believe a breach will likely occur. Yet only 58% take a proactive approach to security weaknesses and threats while 42% take a reactive approach. The report also highlights that only 43% have adopted a Zero Trust security model, which is pivotal to building resilience.

“Strategically shifting to a cloud-native, digital-first mindset includes aligning the C-Suite and IT on shared goals, aligning with business outcomes, advancing cloud technology, navigating ethical AI, and addressing skill concerns. While it may seem daunting, recalibrating the organizations’ approach will help companies realize business value faster,” concluded Naglapur.

The report, titled “From Barriers to Breakthroughs: Unlocking Growth Opportunities with Cloud-Enabled Innovation,” gathered responses from 2,264 participants, including C-Suite, IT leaders, and developers from global enterprises across five countries: the United States, the U.K., Germany, Australia, and New Zealand.

A delightful wind-up to your summers at Roseate House

Let’s check out what Roseate House is offering to give your summer a perfect wind-up:

Sunday Themed Brunches at Del from 12 pm to 4 pm –

Have your own Beer ‘O’ Clock at Del and Chidiya Ghar bar –

Enjoy a beer bucket of 5 pints of Kingfisher premium beer at our world cuisine bistro, bar, or in the comfort of your room while staying at Roseate House.

Summer Splash –

GoTo Launches New Mobile Device Management Solution for GoTo Resolve, Empowering IT Teams to Secure, Set Up, and Manage Company-Owned and BYOD Devices

India, June 28, 2023 – GoTo, the company making IT management, support, and business communication easy with flagship products GoTo Resolve and Rescue, today announced its new mobile device management (MDM) solution for GoTo Resolve. GoTo Resolve MDM enables IT teams to easily secure, set up, and manage all devices – company-owned and personal – including smartphones, tablets, and laptops, all from a single pane of glass. The new MDM capabilities further fortify GoTo’s commitment to being a one-stop shop for businesses’ IT management and support needs.

Frost & Sullivan research revealed that 80% of business leaders feel mobile devices are essential for employees to do their jobs. Yet, as hybrid work has become the world’s dominant business model, and the number of employees using multiple devices – many of them unsecured – continues to grow, proactive MDM software is becoming a necessity to ensure the security and control of potentially vulnerable endpoints.

The new GoTo Resolve MDM delivers on the need for businesses to ensure the security, compliance, and encryption of company data on a range of devices used by employees around the world. Available as an add-on to GoTo Resolve’s core remote monitoring and management (RMM) offering or as a standalone solution, GoTo Resolve MDM includes all the features needed to quickly modernize IT toolsets, such as:

• Support all major operating systems: No device type is left behind with iOS, Android, macOS, and Windows OS coverage.
• Enforce data protection: Lockdown sensitive company data with a wide range of security settings including disk encryption and mandatory strong passcodes, track and wipe devices remotely, and more.
• Simplify control and configurations: Reduce the burden on IT teams by easily pushing device configurations, restrictions, updates, and applications via mass-deployment policies or individual installations.
• Deliver real-time analytics: Keep a pulse on endpoints with insights on device hardware and software, and monitor devices from any location.
• Automate device setup: Easily enroll new devices remotely with pre-configured settings and applications to automatically comply with company policies out of the box.

  “With GoTo Resolve’s new MDM solution, we can now offer businesses all the features they need for effective management of company-owned and BYOD devices in a user-friendly interface, so IT teams can better control and secure devices and data, automate tasks, and provide remote maintenance from anywhere. This solution, coupled with Resolve’s existing support for Windows and Mac endpoints, provides IT administrators with a truly heterogenous device management experience,” said Damon Covey, Senior Vice President, Head of Product at GoTo. “GoTo’s acquisition of Miradore delivered a key asset for GoTo Resolve, and with today’s launch we’ve seamlessly integrated the product into our proven IT management and support solution.”

Commenting on GoTo’s IT service management portfolio, GoTo’s India customer, Madhusudhan Gopisetty, the Infra Head at Rupeeseed Technology Ventures Pvt. Ltd said, “At Rupeeseed, we are committed to empowering our customers with digitally agile solutions that help them achieve business goals efficiently and effectively. A careful selection process led us to a great partnership with GoTo and GoTo Resolve enables us with its unmatched administration and reporting capabilities, simplified and easy-to-use interface, and robust security network. With GoTo Resolve, we are able to offer flexible and responsive service to our hybrid workforce and in the process, drive unparalleled value for our customers.”

Last Journey Emerges as India’s Largest Funeral Services Provider, Sets Ambitious Growth Plan

India – June 28, 2023: Last Journey, a Delhi-based startup launched in 2019, has emerged as India’s largest funeral services provider, transforming the funeral care segment with its innovative approach. Today, Last Journey proudly announces its remarkable success story, as well as its ambitious growth plan, which will solidify its position as the leading provider of end-to-end funeral services in the country.

The start-up has been growing at a CAGR of 30% and this growth is fuelled by technology along with a vast robust network of vendors. In the past financial years, i.e. FY 2021-2022 and FY 2022-2023, they have served 6-7 thousand cases in Bangalore; 7-8 thousand in Delhi; 3-4 thousand in Mumbai; and 3-4 thousand in Hyderabad. Other cities such as Chennai, Indore, Dehradun, Pune, Rishikesh, Ahmedabad, and Lucknow have accounted for over 7-8 thousand cases. The current  ARR (Annual Revenue Run-rate) stands over INR 20 cr.

The company has major expansion plans moving forward in terms of increasing its geographical footprint. By 2025 the company aims to establish quick-response service centers pan-India while simultaneously expanding their international presence in 120+ countries. As of now the company is completely bootstrapped and profitable.

Sharing insights on the company’s growth plan, Mr. Rishabh Jalan, CEO & Co-Founder of Last Journey said, “It has been an exceptional journey for the company and our team, the positive response from stakeholders and this has inspired us to expand our presence nationwide, leading us to chart our path for the future.”

Furthermore, he added, “As a bootstrapped company, we have thrived for three years, and now we are prepared for collaborative growth. Currently, we are in discussions with multiple venture capitalists for our series-A funding, which will be utilized for establishing new centers, recruitment, and global expansion.”

Last Journey recognizes and addresses the diverse needs of the community through its wide range of services, including international repatriation, embalming, pet burials, funeral prayer meeting arrangements, and counseling services among others. The startup actively promotes eco-friendly funeral services, fostering a sustainable approach that benefits both the environment and the community. Looking ahead, Last Journey is poised for nationwide expansion, and to broaden the scope of their services.

iMotorbike Raises $2.6M in Series A Round, Paving the Way for Enhanced Preowned Motorcyles Trading in Southeast Asia

From Left Gobi Partners Managing Partner (Malaysia), Jamaludin Bujang , iMotorbike Co-founder and Chief Marketing Officer, Sharmeen Looi, iMotorbike Co-founder and Chief Executive Officer, Gil Carmo and Gobi Partners Co-founder and Chairperson, Thomas Tsao

KUALA LUMPUR, 28 June 2023: iMotorbike, Southeast Asia’s pioneer e-commerce platform for buying and selling preowned motorcycles, today announced that it has raised RM12 million (US$2.6 million) (US$1 = RM4.6125) in its Series A funding round led by Gobi Partners and Ondine Capital.

The funding round saw returning participation from Penjana Kapital, The Hive Southeast Asia, 500 Global, SOSV’s Orbit Startup; new investors Goodwater Capital, Seedstars International Ventures and Permodalan Negeri Selangor Berhad (PNSB); as well as other institutional venture capitalists.

iMotorbike, which enables users to buy and sell preowned motorcycles on a secure marketplace, was founded by entrepreneurs Gil Carmo and Sharmeen Looi to address the gap in the two-wheeler market. iMotorbike’s platform is fast, efficient and safe, offering money-back guarantee and warranties.

iMotorbike generated over 2,500 transactions with total revenue of more than RM16 million (US$3.5 million). With connections of 5,000 dealers across Malaysia and Vietnam, it also provides financing option, insurance and road tax for users’ convenience.

The Series A funds will be used to strengthen the iMotorbike operations in Malaysia and Vietnam, including opening more inspection centres in both countries; as well as for technology and talent investments.

iMotorbike co-founder & CEO Gil Carmo said the successful fundraise is a testament to the business of the motor trading platform.

“This infusion of capital will be instrumental in fueling the next phase of growth for the company,
as we spearhead the transition towards a circular economy in the two-wheeler market. We will expand our efforts to promote sustainability, create a robust ecosystem for the reusing of motorcycles, parts and accessories to reshape the future of mobility”.

“We are customer-obsessed. We drive our strategy by improving customer experience in every aspect of our business, hence this is why we are opening more inspection centres. The value of what we are building is showing from the good customer feedback we get on a daily basis,” said Carmo.

Gobi Partners co-founder and chairperson, Thomas Tsao, has a positive outlook on the potential for substantial growth in iMotorbike given the size of the Southeast Asian market.

“iMotorbike serves as an excellent example of a circular economy startup, with the potential to become a major player in the two-wheeler industry. In Malaysia alone, there are 1:1 motorcycles for every car, and this ratio increases to 6.5X in Indonesia and a staggering 14.2X in Vietnam. This represents a combined market size of 216 million motorcycles which iMotorbike is poised to tap into,” said Tsao.

Ondine Capital founding partner Randolph Hsu said its latest investment into iMotorbike aligns perfectly with its focus to fund Southeast Asian startups with consumer technology.

“We are always on the lookout for promising startups with a unique value proposition. iMotorbike has stood out with its market traction, stemming from its mission to improve the preloved motorbike market. We are excited to be part of their growth journey,” said Hsu.

“We are thrilled to support iMotorbike’s vision of revolutionizing the preowned motorcycle market and contributing to the circular economy. With their strong execution and the immense opportunity in Southeast Asia, we believe they are well positioned to become a major player in the industry,” shared Patricia Sosrodjojo, General Partner at Seedstars International Ventures.

To date, iMotorbike has secured a total of RM19.3 million (US$4.2 million) since its pre-seed funding round.

With rising inflation, higher cost of living amid surging fuel prices, iMotorbike expects to see more people turning to motorcycle as a mode of transportation and as a means of generating income. Two-wheelers remain a viable, low-maintenance option for many commuters and e-commerce riders and iMotorbike is well-positioned to capitalise on this immense potential.

Entering the next exciting phase of growth, iMotorbike is poised to continue revolutionising the preowned motorcycle landscape. The startup remains committed to its vision of tackling four pain points of buying and selling preowned motorcycle – reliability, transparency, market fragmentation and time consumption.

iMotorbike offers a fast, secure, easy and hassle-free online experience with 170 inspection points, 6 days return, 6 months warranty, countrywide delivery and a bundle of finance, road tax and insurance. Additionally, it also provides consumers with the latest motorcycle news.