26, Aug 2024
Honda Leads Future Generation Road Safety Convention in Jaipur
Jaipur, 26th August 2024: In a steadfast commitment to instill road safety awareness, Honda Motorcycle and Scooter India today organized a Road Safety Convention with school principals in Jaipur, Rajasthan as a part of ongoing project – Mindset Development for our Future Generation.
The convention saw active participation from over 100 School Principals and Teachers from government schools in Jaipur.
The convention witnessed the presence of esteemed guests, including Smt. Alka Vishnoi (Additional District Magistrate – Jaipur, Government of Rajasthan), Smt. Bharti Singh (ADEO – Jaipur, Government of Rajasthan), Shri Suresh Beniwal (Superintending Engineer – State Road Safety Cell, Department of Transport and Road Safety, Government of Rajasthan), Shri Ashwini Bagga (Road Safety Expert – State Road Safety Cell, Department of Transport and Road Safety, Government of Rajasthan), and Shri Prabhu Nagaraj (Operating Officer, Corporate Affairs, Honda Motorcycle & Scooter India) along with other dignitaries from HMSI.
The current Indian traffic scenario highlights the need of discipline among road users. One of the major causes of traffic collision is the mindset of people. Widespread disregard for traffic rules is one of the major factors in road accidents. Keeping this in mind, the primary objective of this convention was to showcase the innovative concept of Mindset Development for kids, with a focus on expanding the reach of road safety education to all students through training facilitated by school teachers.
With a unique focus on changing children’s mindset towards road safety from an early age, HMSI believes that proper education can have a positive influence not only on children but also on their parents. Anchored by HMSI’s global safety slogan ‘Safety for Everyone’, the company has curated three learning modules age wise to guide the young population develop a disciplined mindset, thereby making a substantial contribution in fostering a safer society.
During the convention, HMSI urged all school authorities to utilize these learning modules, emphasizing need for collaboration to expand the benefits of this program to students. HMSI invited schools to join hands in supporting the mission and working towards creating safer roads for India.
HMSI has successfully conducted 5 Road Safety conventions across the country so far, during which it has covered over 600 schools and trained more than 1.90 lakh students. These conventions have helped us expand the reach to equip students with vital road safety knowledge and practices. Building on this success, we are excited to expand our efforts to more cities in this financial year.
Our endeavor is to maximize the coverage of young minds, ensuring that young individuals receive crucial road safety education. HMSI is steadfast in its commitment to make the roads safer for everyone by nurturing a culture of vigilance and responsibility.
Honda Motorcycle & Scooter India’s CSR commitment towards Road Safety:
In 2021, Honda globally made a vision statement for the year 2050 where it will strive for zero traffic collision fatalities involving Honda motorcycles and automobiles. In India, HMSI is working in line with this vision and the Government of India’s direction of reducing fatalities to half by 2030.
HMSI wants to be a company that Society wants to exist and is strongly focusing on road safety awareness to all sections of society with unique ideas catering to each segment from school kids to corporates and society at large.
One critical aspect of achieving this goal is inculcating a positive mindset towards road safety in our children by the year 2030 and continuing to educate them thereafter. Road safety education at schools and colleges is not only to create awareness but to inculcate a safety culture in young minds and turn them to be the safety ambassador. It empowers future generations to become responsible and significantly contribute towards a safer society.
HMSI’s skilled safety instructors conduct daily programs at our 10 adopted traffic training parks (TTP) across India and 6 Safety Driving Education Centers (SDEC) to make road safety education accessible to every part of society, and the initiative has already reached over 7.7 million Indians. HMSI’s National Road Safety Awareness program made learning fun yet scientific through:
SCIENTIFICALLY DEVISED LEARNING MODULE: Honda’s skilled instructors set the foundation with theory sessions on road signs & markings, driver’s duties on road, riding gear & posture explanation and safe riding etiquettes.
1. PRACTICAL LEARNING: A special training activity on Honda’s virtual riding simulator is executed for all to experience over 100 possible dangers on road before actual riding.
2. INTERACTIVE SESSION: Participants are given danger prediction training known as Kiken Yosoku Training (KYT) which helps in enhancing rider/driver’s sensitivity to danger and ensures safe driving behaviour on roads.
3. EXISTING DRIVERS HONING RIDING SKILLS: Students and school staff members who already ride a vehicle are tested & their riding skills are honed through slow riding activities and riding on narrow planks.
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- By Rabindra
26, Aug 2024
Shri Anil Kumar Jadli Takes Charge as Director (HR), NTPC
Shri Anil Kumar Jadli has taken charge as Director (HR), NTPC on 23rd August 2024. He started his career in NTPC way back in 1993 as an Executive Trainee. His ascent from his humble beginning as an Executive Trainee to the top echelon of HR function in NTPC signifies his passion, commitment and hard work. He is a post graduate in Organic Chemistry from Garwal University and did his post graduate diploma in Business Management in Human Resource Management from MDI, Gurgaon. He has also received management and leadership training inputs from ESCP-EAP (Paris, Berlin and Turin).
He has an illustrious career spanning over more than three decades encompassing both line and HR functions. After working in line function for around a decade, he switched over to HR function in 2004. From 2004 onwards, he looked after various facets of HR in various projects of NTPC in different capacity including Head of HR. He moved to Corporate HR in the year 2020, where he was instrumental in formulation and implementation of various HR strategies and initiatives.
He is a strong believer of “people before PLF” philosophy. With his rich and varied experience, HR in NTPC will achieve new feats in the days to come.
26, Aug 2024
“Society needs service-minded doctors to enhance wellness all around” – Dinesh Gundu Rao
Bengaluru, August 26th: Health and Family Welfare Minister Dinesh Gundu Rao on Sunday said that there is a need for more service-minded doctors in order to spread wellness in society in today’s era of commercialization of health sector.
Speaking after inaugurating the 207-bed “DHEE” Super Speciality Hospital on Kanakapura Road, Dinesh Gundu Rao said the state had good Hospitals such as Jayadeva Cardiology and Kidwai Cancer Institute.
“We need more such service-minded hospitals especially when health sector is commercialized,” the Health Minister added.
According to Dinesh Gundu Rao, the responsibility of the government is more in the healthcare sector as its primary duty is to build a healthy society.
“But this task cannot be achieved by government alone. We need Hospitals like “DHEE” to supplement government’s efforts,” the Health Minister said and added, “if curing the disease is important, prevention is more important. This is our priority.”
He complimented the efforts of Dr Chandrashekar Chikkamuniyappa who has been working for the welfare of the people along with NGOs such as Rotary and Vyas.
Expressing concern over the rapid commercialization of the healthcare sector, Dinesh Gundu Rao said the only solution to this problem is increasing more and more service-minded hospitals and doctors.
The health minister further said that people are utilizing the Hrudaya Jyothi scheme and saving their lives. Till now, more than 20 people have been able to save their lives. “This scheme will be extended to all taluks shortly,” he added.
In his speech, spiritual leader Sri Sri RaviShankar Guruji said, it was everybody’s duty to build a healthy society. Good health comes from good education. This leads to the development of the country. We need to protect our health by good exercise, good food practices and good thoughtfulness.
“If we take precautionary measures, we can prevent diseases. We need not go to temples to see god. Doctors are the gods. I wish all the best to this Hospital which has been started with service-minded attitude,” the spiritual leader added.
Dr Chandrashekar Chikkamuniappa, the Hospital’s CEO, in his speech said, the doctors are going to shoulder great responsibility for the well-being of the society. The cooperation of the private sector with the government is very important to protect the healthcare sector.
“Like-minded doctors with service mentality have started this hospital. We will provide medical facilities at affordable cost. We are already into various service activities along with Rotary and Vyas organizations,” he explained.
Noted Educationist Dr Gururaj Karjagi, Rotary Asia Ambassador, Philanthropist Ravishankar Dakoju, and others were present.
26, Aug 2024
Greenply Industries and Samet Unite to Elevate Global Living Spaces with Premium Furniture Accessories
August 26, 2024, Delhi, India: Greenply Industries Ltd., a pioneer in the Indian plywood industry, and Samet, one of the leading global brands in functional furniture hardware have commenced their business operations together as part of their joint venture Greenply-Samet and are set to revolutionize the Indian furniture hardware market. In a press conference in Delhi graced by Mr. Manoj Tulsian, Joint Managing Director and CEO of Greenply Industries, and Mr. M. Serdar Senemoğlu, Executive Board President, Samet, shared their insights and vision for this groundbreaking collaboration.
Greenply Industries and SAMET B.V. marked a significant milestone on 26th October 2023 by forming a Joint Venture Company named “Greenply Samet Private Limited.” This strategic collaboration under the brand Greenply-Samet is poised to bring a new wave of innovation and quality to the industry. The joint venture commenced its manufacturing activities and commercial production as per the Phase-I plan on 30th March 2024 at its state-of-the-art unit in Vadodara, Gujarat. The production capacity at this facility will be strategically ramped up in three phases over the next three years, ensuring a steady increase in output to meet growing market demand. With an investment of around 250 crores, the Vadodara plant is set to become a cornerstone of Greenply-Samet’s operations, blending Greenply’s industry expertise with Samet’s advanced technological capabilities. This joint venture is dedicated to manufacturing and marketing premium furniture hardware, including state-of-the-art slide systems for wooden and metallic drawer systems, hinge systems, lift-up systems, and other innovative products.
This partnership not only aims to cater to the domestic market but also envisions making India a global hub for functional furniture hardware. The synergy between Greenply and Samet is expected to drive significant growth and create new benchmarks in the industry. Through this joint venture, both companies are committed to delivering exceptional value and innovative solutions to their customers, setting the stage for long-term success. Built on the synergy of skills, resources, and market knowledge, Greenply-Samet provides a best-in-class range of furniture hardware products that are functional, aesthetic and tailored for the needs of every living area. The manufacturing operations based in Vadodara and headquarters in Mumbai, the venture seamlessly integrates Samet’s precision in production with Greenply’s strategic market reach, setting new benchmarks in the industry.
Mr. Manoj Tulsian, Joint Managing Director and CEO, Greenply Industries Ltd., spoke of the vision for the venture, “Our strategic partnership with Samet represents a significant leap forward in our journey to deliver unparalleled furniture hardware solutions in India. This venture combines Greenply’s deep understanding of the Indian market with Samet’s world-class technology and innovation. Together, we are poised to redefine the standards of furniture hardware in India, offering products that resonate with the needs of modern consumers.”
Mr. M. Serdar Senemoğlu, Executive Board President, Samet, stated, “This joint venture with Greenply is a testament to our shared vision for growth and excellence in the Indian market. By leveraging Greenply’s strong market presence and Samet’s advanced technological capabilities with 51 years of corporate excellence, we are confident in our ability to deliver innovative, high-quality hardware solutions that will transform the landscape of interior design in India. We will transform our corporate strength that is already approved by Deloitte in 2022 with the best-managed company award to Greenply Samet operation as well. Our collaboration is set to create new benchmarks in the industry, driving both companies to new heights of success.”
Greenply Industries Ltd. stands as one of India’s foremost interior infrastructure companies, with a legacy spanning over three decades. Known for its superior quality plywood, MDF, and allied products, Greenply has continually pushed the envelope in innovation and sustainability. The company recently achieved a significant milestone by obtaining CARB and EPA certifications for its Zero Emission plywood product range, setting a new standard in the industry. Additionally, Greenply inaugurated a state-of-the-art MDF production line in Vadodara, Gujarat, in April 2023, equipped with the latest PRODIǪ NEO technology from Siempelkamp, Germany.
Founded in 1973 in Istanbul, Samet has established itself as one of the global pioneers in the furniture hardware industry. Celebrating its 50th anniversary in 2023, Samet has a rich history of innovation and excellence, offering over 6,000 types of cabinet hardware. The company is renowned for its commitment to European quality standards and its ability to deliver cutting-edge solutions that enhance both the functionality and aesthetic appeal of furniture worldwide.
Samet’s focus on research and development has driven its success, making it a perfect partner for Greenply in this ambitious joint venture.
Headquartered in Mumbai, with manufacturing operations in Vadodara, Greenply Samet India Private Limited combines the precision of Samet’s manufacturing and innovation expertise already registered with patented, value-added products in all furniture accessorize categories with Greenply’s extensive market reach. As one of the top-ten leading brands in that category, we will continue to heavily invest in strategic product groups- developed by the global R&D team of Samet- that will also add value to Greenply Samet cooperation. This partnership is set to address the growing demand in India for high-quality, functional, and aesthetically pleasing furniture hardware, reinforcing the market positions of both Greenply and Samet.
The furniture fittings sector is growing at a faster rate due to increased demand and availability of quality products in India, therefore GREENPLY-SAMET planned its investments according to key product categories throughout the 5-year projection. In addition to existing more than 6000 products in the portfolio, it has prioritized the Master hinge and GS-Class ball-bearing slide system for India production reference to the demand of the market and production has started in the fully integrated production centre in Vadodara as of 2024. The company’s local manufacturing presence and capability will become even stronger with the commissioning of Smart Slide full extension undermount slide systems and Flowbox drawer box systems in the further Phases of Production.
In Phase 3, the production centre will achieve a full–scale volume with the manufacturing of Slide single-extension undermount slides and a Slim-Mech single lift-up door system. In line with these developments, the rapid growth process of Greenply-Samet will be carried to a higher level on a segment and channel basis.
26, Aug 2024
Indian Racing Festival Round 1 Roars to Life at MIC with Top Global and Local Drivers on the grid
Chennai, August 26: The Madras International Circuit will reverberate with the sound of screaming engines of powerful single seater cars as the Round-1 of Indian Racing Festival 2024, promoted by Racing Promotions Pvt Ltd (RPPL), and first of its kind in the country, gets underway here on Saturday with a card of nine races, presented by kingfisher .
The two-day event offers a bouquet of franchise-based Indian Racing League and the FIA-certified Formula 4 Indian Championship, besides the JK Tyre FMSCI National Racing Championship comprising the JK Formula LGB 4 which is in its 27th consecutive year and the Royal Enfield Continental GT Cup, with a total of nine races apart from official practice and qualifying sessions. The entire grid of race cars and bikes at the Indian Racing Festival will run on JK Tyres.
The Indian Racing Festival (IRL), to be held over five rounds, including the historic night street race in the heart of Chennai next weekend, is sponsored by Kingfisher Soda (Presented By) , JK Tyre (Powered By), Mobil 1 (Performance Sponsor) and Megha Engineering & Infrastructure Limited.
The IRL that will showcase the Aprilia-powered World Thunder GB08s machines with a top speed of 240Kmph, and F4 Indian Championship boast of leading Indian and foreign drivers, headlined by the vastly experienced Bengaluru-born 2022 champion Akhil Rabindra, Swiss ace Neel Jani, winner of the iconic 24 Hours Le Mans race in 2016, and Julius Dinesen, the 2022 Danish F4 champion.
There is also representation from Australia, Spain, Czech Republic, Denmark, Portugal, South Africal and Germany, giving the grid a truly international flavor, besides a competitive edge that has been the hallmark
of previous two editions. The race will also witness 6 women drivers participating and competing alongside the men drivers, creating an unique and one of a kind inclusive race.
Each of the six IRL teams – Kolkata Royal Tigers (Kolkata), Speed Demons Delhi (Delhi), Goa Aces JA Racing (Goa), Hyderabad Blackbirds (Hyderabad), Chennai Turbo Riders (Chennai) and Bangalore Speedsters (Bengaluru) – comprises of two Indian and two foreign drivers, including a female driver, sharing two cars across two races.
The Formula 4 Indian will be a triple-header with a highly competitive grid made up of several promising teenagers like Jaden Rahman Pariat, Abhay Mohan and Ruhaan Alva to name a few, with proven track record of winning National titles, besides several foreign drivers from Australia, Denmark and South Africa.
Akhilesh Reddy, Chairman and Managing Director of RPPL “The 2024 season of the Indian Racing Festival is epoch-making in the sense that we will be hosting the country’s first-ever night race on a street circuit in the heart of Chennai. This is a huge step forward and the Racing Promotions Pvt Ltd is indebted to the Government of Tamil Nadu for its wholehearted support without which the event would not have been possible. RPPL also welcomes new franchise team owners in cricket icons like Sourav Ganguly, cine stars Arjun Kapoor,John Abraham and Naga. It augurs well for the IRF that we have full grids this season with top racers from India and abroad, and hopefully, we will expand the number of teams next year. We also extend our thanks to all our sponsors, competitors, officials, Media and the marshals for their support and involvement.”
JK Tyre FMSCI National Racing Championship and RE GT Cup
With 25 entries for the JK Formula LGB 4 and 24 in fray for the Royal Enfield GT Cup, there is much to look forward, especially since both the grids contain familiar and well-known names. The Championship, in its 27th season is the longest running racing event by any single promoter across the globe, has unveiled an array of young talent including Narain Karthikeyan, Karun Chandhok, Armaan Ebrahim, Aditya Patel, Arjun Maini, Kush Maini are all proud prodigies of this Racing Championship.
The JK Formula LGB 4 cars are powered by a carburetted 1298cc Suzuki Swift engine, equipped with an Esteem 5-speed gearbox, and built with a chrome molybdenum tubing frame. This category will feature five teams (Dark Don Racing, Ahura Racing, MSPORT, Avalanche Racing and Momentum Motorsports) with 25 experienced drivers from cities such as Ooty, Nellore, Kolkata, Madgaon, Madurai, and Hyderabad. Notable drivers like Tijil Rao, Diljith TS, Vishwas Vijayraj, Chetan Surineni, and Saran Vikram will be vying for the LGB Formula 4 National title, promising intense competition for the podium in every lap. Also lining up is Ooty-based Priyanka Vijay, the only female competitor who will be giving the boys a tough competition on the grid.
The Royal Enfield Continental GT Cup featuring GT 650 bikes is entering its fourth season this year. After regional selections in Guwahati, Bangalore, Pune, and New Delhi, this year’s grid includes fresh faces like Johring Waris from Umrangso (Assam) and Johnson Saldanha from Mangalore, alongside seasoned riders such as Anish Shetty and Syed Muzzamil Ali from Bengaluru.
Mr Sanjay Sharma, Head-Corporate Communication & Motorsport, JK Tyre said: “The fact that the JK Tyre National Championship is in its 27th season reflects our commitment to the sport by providing a platform for youngsters to showcase their talent. Over the years, some of these boys and girls have moved up and performed at the international level. We will continue to support and invest in talent while helping them to realise their motorsport dreams.”
“We are incredibly proud that all the race machines including the international Formula cars are equipped with JK Tyres, which have been developed right here in India at our R&D centre,” he further added.
26, Aug 2024
Innovative Solar Solutions by Orient Solar Take Centre Stage at Rev Expo, Lucknow
Lucknow, August 26, 2024 – Orient Solar, India’s leading innovator in solar technology with one of India’s largest and most advanced fully automated solar module lines is all set to unveil two revolutionary products at the upcoming Rev Expo in Lucknow to be held between 23-25 August, 2024. Located at Stall A-130,Defence Expo Ground, visitors will get a chance to experience cutting-edge solar solutions designed and developed by Orient Solar keeping in mind modern urban user demands.
Leading the charge in solar innovation, Orient X-Nova TOPCon Panels—hailed as one of the most technologically advanced panels in the world. These panels not only boast industry-leading power generation and efficiency but also aims to set new standards for solar technology. Engineered for superior performance, the X-Nova TOPCon Panels are poised to revolutionize solar energy production, offering unparalleled benefits for both commercial and residential applications.
Additionally, the expo will feature the latest version of the Orient Arc Series Single Phase Hybrid Inverter. Utilizing copper-based technology, this inverter delivers superior efficiency and load capacity, representing a significant advancement for solar energy systems. Its design allows for seamless integration with contemporary solar setups, optimizing energy management and empowering users to maximize their solar energy utilization.
“We are thrilled to introduce our cutting-edge solar technologies in Lucknow market. With launch of two new product ranges – Orient X-Nova TOPCon Panels and the Orient Arc Series Single Phase Hybrid Inverter, we are commitment to driving innovation in the renewable energy sector, thereby, representing pinnacle of our engineering efforts. Designed to revolutionize the way people harness and utilize solar power, we aim to empower individuals, communities and businesses to embrace a sustainable future powered by clean energy” said Mohit Yadav, CEO, Orient Solar.
Orient Solar is committed to democratizing solar energy, ensuring that it is not just a privilege for large installations but accessible to every home, village and institution. Their innovative hybrid technology for rooftop solar systems allows consumers to remain connected to the grid while also enjoying the benefits of off-grid solar power, fostering energy independence.
26, Aug 2024
T-Hub Partners with Beyond4 to Boost India-Malaysia Startup Ecosystem and Global Growth
India, 26th Aug 2023 – T-Hub, India’s leading startup incubator, has today signed Memorandum of Agreement (MOA) with Beyond4, Malaysia’s premier accelerator ecosystem witness by the Investment, Trade and Industry Minister of Malaysia, Datuk Seri Tengku Zafrul Abdul Aziz. The partnership aims to foster cross-border innovation and market access between India and Malaysia, creating a robust framework to support startups from both nations. The memorandum of agreement (MOA) follows the recent state visit of Malaysian Prime Minister HE Dato’ Seri Anwar Ibrahim, who announced a strengthened cooperation between the startup ecosystems of India and Malaysia under the India-Malaysia Startup Alliance.
The partnership will drive growth in key sectors including fintech, healthtech, agritech, sustainability, and smart cities. As part of this agreement, T-Hub will utilize its extensive network and sectoral expertise to assist Malaysian businesses in entering the Indian market, while providing global growth opportunities for Indian startups. Additionally, T-Hub will offer corporate innovation programs that connect Malaysian corporates with Indian startups, enabling the co-creation of innovative solutions and showcasing their expertise.
Furthermore, the India Market Access Program will support Malaysian startups through localization, mentorship, product assessment, and proof-of-concept facilitation. Similarly, the Malaysia Market Access initiative will help Indian startups forge connections with Malaysian investors, partners, and government entities. The collaboration also includes a strong focus on investor support, with T-Hub and Beyond4 providing access to a broad network of angel investors, venture capitalists, and strategic partners. They will offer investment readiness workshops, exclusive pitch sessions, and invitations to demo days and investment sessions for stakeholders from both countries.
Key dignitaries present at the signing included-YB SENATOR TENGKU DATUK SERI UTAMA ZAFRUL TENGKU ABDUL AZIZ, Malaysia’s Minister of Investment, Trade & Industry, Mahankali Srinivas Rao, Chief Executive Officer (CEO) T-Hub, S T Rubaneswaran, Chief Executive Officer (CEO), Beyond4 Malaysia among others.
Mahankali Srinivas Rao (MSR), CEO, T-Hub said, “Our partnership with Beyond4 marks a transformative moment for startups in both India and Malaysia. By synergizing our ecosystems, we are creating a powerful platform that enables startups to scale globally and innovate at the highest levels. Together, we aim to drive disruptive innovations and set new benchmarks for international collaboration, ultimately shaping the future of global entrepreneurship.”
S T Rubaneswaran (STR) CEO, Beyond4 said, “The partnership between T-Hub and Beyond4 marks a pivotal step toward creating a global innovation ecosystem, driving growth, and fostering collaboration between these two dynamic regions. Our goal of facilitating regional funds underscores the transformative potential of this alliance, as we work together to support and elevate startups across these dynamic markets.”
A significant aspect of this partnership is the emphasis on knowledge exchange through mentorship initiatives and knowledge-sharing platforms, aimed at fostering a conducive ecosystem for startups in both regions. This collaboration is set to promote innovation and the development of cutting-edge technologies in sectors of mutual interest.
Moreover, Beyond4 has partnered with True Vine Capital Pte Ltd, a venture capital fund manager based in Singapore, to raise USD 20 million. This fund will be invested in startups from Beyond4’s accelerator programs and cover markets including India, Malaysia, Singapore, and Hong Kong.
26, Aug 2024
LoanKuber (Janasha Finance) Secures USD 3.5 Million in Funding Led by TRTL VC, IPV & Others
India, New Delhi, August 26, 2024: LoanKuber, the brand under which Janasha Finance operates, has raised USD 3.5 million in a pre-Series B round, comprising both equity and debt. This funding round was led by Singapore-based TRTL VC and existing investor Inflection Point Ventures. The round also saw participation from Auxano, LetsVenture, Mavuca Capital as well as angel investors such as Ruchi Deepak (Co-founder, Acko), Prashant Tandon (Co-founder, 1mg) and Pankaj Vermani (Co-founder, Clovia). With this infusion of capital, Janasha Finance’s total funds raised now stand at USD 13+ million, furthering its commitment to ensure credit access for India’s underserved communities.
The company plans to utilize the newly secured funds primarily for expanding its assets under management (AUM), which currently stand at approximately INR 93 crores. This capital will also bolster LoanKuber’s technological infrastructure and help strengthen its leadership team, positioning the company for accelerated growth. With the net worth now increasing to around INR 51 crores, LoanKuber is well-positioned to scale its AUM to approximately INR 180 crores within the next 12 months.
LoanKuber, founded in 2018 by Saurabh Nagpal, an alumnus of IIT Delhi, and Saumya Nagpal, an alumnus of IIM Bangalore, champions financial inclusion by providing formal mortgage finance to MSMEs at the bottom of the pyramid. Through its managed marketplace, LoanKuber integrates technological innovation with a strong commitment to social impact, ensuring that underserved communities gain better access to essential financial services.
LoanKuber empowers micro, small, and medium enterprises (MSMEs) and semi-skilled professionals who are often neglected by traditional financial institutions. Notably, they include women applicants on 100% of their loans, helping improve credit behaviour in the household and advancing women’s land rights. Further, 70% of their customers have a monthly household income of less than INR 50,000 and have previously struggled to obtain formal credit due to a lack of formal income proof. LoanKuber also focuses on the In order to promote good credit behavior within households, women are co-applicants on 100% of their loans.
A cornerstone of LoanKuber’s strategy is its automated institutional co-lending platform, which offers competitive pricing to customers while delivering higher yields on its NBFC balance sheet. The company has also developed hybrid acquisition channels, including a digital connector platform, a lead generation platform, and low-cost branches, which have collectively reduced customer acquisition costs by up to 30 percent. By strategically combining data analytics with a deep knowledge of the local micro-markets, LoanKuber has developed an expertise in underwriting semi-urban and rural properties belonging to small business owners. It specializes in mortgage loans ranging from INR 3 lakhs to INR 10 lakhs, primarily for business expansion.
LoanKuber has maintained a conscious focus on a low-cost model, which has enabled the company to achieve profitability very early in its journey. The company has been profitable for the past two years.
“We are grateful to our investors for their unwavering trust and support throughout our journey that has been instrumental in our progress so far. The social sector is complex, and driving meaningful change in underserved communities requires more than just financial resources—it demands a deep understanding of the unique challenges these communities face, said Saurabh Nagpal, Founder & CEO of LoanKuber on the latest funding round. “This fresh infusion of capital will help us scale our efforts, set up new branches and penetrate deeper into semi-urban communities in Delhi, Uttar Pradesh and Haryana, and ensure that we can continue building a more inclusive and equitable financial landscape.”
“The technology supporting financial inclusion in India has been growing at a tremendous pace. We have been looking for startups with outstanding fintech capabilities and operating teams in several segments within Fintech,” said Yasuhiro Seo, Founder and Managing Partner TRTL. “Loankuber has been consistently profitable while supporting the growth of micro-businesses, which constitute a significant portion of India’s GDP, and we envision a high likelihood of them achieving great success in the future. As Founders, Saurabh and Saumya have demonstrated exceptional leadership and a deep commitment to addressing the financial needs of underserved communities in India. We are excited to support them as they scale their efforts to create a more inclusive financial ecosystem.”
23, Aug 2024
National Space Day Quote 2024 – TakeMe2 Space | Ronak Kumar Samantray – CEO | Space Sector
Ronak Kumar Samantray – CEO of Space Sector
“Space is for everyone. This statement is not merely a slogan; it personifies the core belief that propels our mission at TakeMe2Space. We are initiating a new era in space exploration, one that makes the cosmos accessible to everyone.
Our focus on AI-driven compute and storage satellite infrastructure ensures affordability and broad accessibility, dismantling the traditional barriers that have kept space exploration exclusive. We are assembling innovative methods that enable daily connections with space, encompassing education, research, personal projects, and unique experiences.
On this National Space Day, let us celebrate the limitless possibilities of space and the extraordinary opportunities it presents. Together, we can motivate future generations, drive innovation, and decode the mysteries of the universe.”
23, Aug 2024
Verticalized SaaS Payments platform Easebuzz revenue surges to INR 290 Crore in FY 24; eyes IPO in next 2-3 years
Pune, 23rd August, 2024: Verticalized SaaS payments platform Easebuzz has released its financial numbers for FY24. The annual Gross Transaction Value (GTV) processed by the platform during the year crossed a record INR 1,00,000 Crore, a 48% growth rate compared to FY23. With a rapidly expanding merchant base touching 1,50,000 mark, the platform experienced an year-on-year revenue growth rate of 23%, taking the revenues to INR 290 Crore. The daily volume run rate of the platform touched close to 1 Mn transactions.
Despite headwinds in the fintech industry and changing regulatory landscape, Easebuzz is able to maintain its growth trajectory with strong focus on verticalization, personalization and compliance culture. With a robust tech and product suite, Easebuzz maintained its dominance as one of the largest SaaS based payment solutions providers in the Education segment, with over 10,000 institutes relying on its full-stack technology and payment infrastructure.
With verticalization as core Strategy, Easebuzz is helping businesses of every size and scale across eCommerce, Real Estate, Travel, BFSI, Education, Government & Municipalities, and many more. Easebuzz is enabling digital payment infrastructure for some of the marquee clients like Symbiosis University, Parul University, State GRAS, Noida Power Corporation, BSES Rajdhani Power, GoKwik, IRCTC, DLF, Brigade, BigBasket, MTDC, etc.
Rohit Prasad, Founder & CEO, Easebuzz, said, “We have experienced phenomenal momentum in FY24 and on track to cross $50 Bn GTV and $100 Mn revenue in FY25. We aim to achieve this growth while maintaining our strong record of profitability. Our technology-centric approach, focus on personalized solutions and compliance driven culture has fostered trust among leading enterprises and government organizations. Driven by the vision and laudable policies of the government & RBI, Indian economy is set to become more and more formalized & digitized. This presents a potential opportunity for Easebuzz to take part in our country’s growth journey and capitalize on the surging demand, creating more revenue channels through our software solutions and payment products. With increased market share and profitability at the core, we also aim to go public in the next 2 to 3 years”.
