Author: Rabindra

BC Jindal Group Forays Into India’s Renewable Energy Sector with 5 GW Goal

Mumbai, 22nd August 2024: BC Jindal Group, India’s leading conglomerate, with over Rs. 18,000 Crore turnover, announced its foray into India’s renewable sector today. The group plans to invest around US $ 2.5 billion in this sector in the next 5 years.

With an existing portfolio of 1,200 MW thermal power generation in Angul, Odisha, BC Jindal Group has floated a dedicated entity to hold the renewable venture of the group. This entity will oversee the renewable power generation and solar cells and module manufacturing businesses.

Jindal India Renewable Energy aims to generate 5 GW of power from solar, wind, hybrid and FDRE modes to uphold responsible environmental care while achieving decarbonisation. Along with this, JIRE will also manufacture PV Cells and Modules to tap into the solar demand. With a strategic vision to build a state-of-the-art portfolio in the renewable sector, this is a natural evolution for the BC Jindal Group.

Commenting on the announcement, Mr. Shyam Jindal, BC Jindal Group, said, “In line with India’s ambitious renewable energy goals, our aim is to generate 5 GW power from solar, wind, hybrid and FDRE modes. As India aims to install 500 GW of renewable energy capacity by 2030, Jindal India Renewable Energy’s entry into this segment will give a boost to this mission. Our foray into the renewable sector is an evolution towards a green and sustainable future.”

Currently, India ranks 4th globally for adding more renewable capacities along with ranking 4th and 5th for wind and solar power capacity, respectively.

Speaking on the launch of this vertical, Mr. Punit Gupta, Executive Director, Jindal India Renewable Energy said, “To address India’s current energy requirement, brown energy is still dominant. As technology improves in this sector and demand increases, we aim to act as a key player in the renewable energy sector by leveraging the strength of our existing power company. This will enhance our energy security, ensuring a stable power supply for our operations.”

Jindal India Renewable Energy operates under the BC Jindal Group, founded in 1952 by Shri B.C. Jindal. Originally a steel pipe and fittings manufacturer, the group has grown into one of India’s leading conglomerates with a significant presence in the power sector. The formation of Jindal India Renewable Energy comes in the backdrop of BC Jindal Group’s legacy in the energy sector.

As India progresses towards its 2030 targets, JIRE’s initiative represents a forward-thinking approach to energy diversification. With a focus on environmental well-being at the core of its inception, BC Jindal Group’s commitment extends beyond compliance to a genuine dedication to preserving the environment for future generations.

Future Generali India Life Insurance Appoints Sunil Kapoor as Chief Risk Officer

Mumbai, August 22nd, 2024 – Future Generali India Life Insurance Private Ltd. announced the appointment of Sunil Kapoor as Chief Risk Officer (CRO) with effect from 29th July 2024. Kapoor has joined the leadership team to lead the Risk and Information Security Function. In his capacity as CRO, Sunil will be responsible for establishing, implementing, and maintaining robust risk management practices to enhance the risk management framework of the company.

With over two decades of experience in risk management, Sunil brings a wealth of expertise that will contribute to Future Generali India Life Insurance’s continued growth and success. He has held significant roles at renowned companies in the financial services sector, including SBI Capital Markets, HDFC Life Insurance, HDFC Pension Fund Management, IDFC Bank, and CCIL. He is a Fellow Chartered Accountant (FCA) and an Associate Company Secretary (ACS). He also possesses the Financial Risk Manager (FRM) credential from Global Association of Risk Professionals (GARP), USA and the Diploma in Information Systems Audit (DISA) credential.

Sunil Kapoor will report to Alok Rungta, Managing Director & CEO of Future Generali India Life Insurance who expressed, “We are thrilled to welcome Sunil Kapoor to our leadership team. His extensive experience and deep understanding of risk management will be invaluable as we navigate the evolving landscape of the insurance industry. We are confident that Sunil’s expertise will play a crucial role in driving Future Generali India Life Insurance’s strategic initiatives, ensuring robust risk management practices and reinforcing our lifelong commitment to our customers.”

Commenting on his appointment, Sunil Kapoor said, “I am excited to join Future Generali India Life Insurance and lead the Risk and Information Security function. The company is known for its commitment to trust, innovation and customer-centric approach. I look forward to contributing to its mission of delivering excellence and ensuring the highest standards of risk management and governance practices.”

Electrosteel Organizes Valedictorian Function for its Notable social Initiatives

Srikalahasthi, August 22, 2024 – Electrosteel Castings Limited (ECL), a global leader in Ductile Iron Pipes and Fittings, hosted a Valedictory function at its premises at Srikalahasthi Works. The programme was organized to felicitate beneficiaries for the successful completion of their skill-training programs in the three notable CSR initiatives of the company – Tailoring & Fashion Designing, Computer Literacy and Urja Abhiyaan. All the trainees received completion certificates and prizes were distributed to exemplary performers. Dr. S. Venkateshwar, Collector and District Magistrate, Tirupati, graced the occasion as Chief Guest. The ECL-SW leadership team was also in attendance at the event.

Dr. S. Venkateswar, IAS, Collector and District Magistrate of Tirupati was the Chief Guest

As part of its Corporate Social Responsibility (CSR) initiatives, ECL has been conducting skill training programs aimed at empowering the communities in the villages in and around Srikalahasthi. A tailoring and fashion designing course was organized to empower women and 30 of them received certification and 3 top candidates were presented with sewing machines. To further support skill development, ECL also conducted Urja Abhiyaan, a plumbing & electrician course for youth in the neighbouring villages and a Computer Literacy program for 100 students along with study materials. Students who demonstrated outstanding performance during their training were rewarded with prizes and certificates.

Addressing the event, Suresh Khandelwal, Executive Director, Srikalahasthi Works said, “The core objective of our CSR initiatives is to improve livelihood, health, enhance women empowerment and facilitate self-employment for the community in Srikalahasthi and surrounding regions. Over the years, we have taken up multiple initiatives such as eye check-up camps, providing R.O. Water Plants in villages, fee reimbursement for meritorious students, and educating farmers on the latest farming techniques through agricultural college and more. We extend our heartfelt congratulations to all the participants, especially those who have excelled in their respective courses.”

On the occasion, Dorairauj, Senior General Manager, Srikalahasthi Works said: “Electrosteel has a proud tradition of giving back to society through its CSR initiatives. We believe that a skilled workforce is vital for the livelihood of the local population. Our commitment to empowering the people of Srikalahasthi through various initiatives is unwavering as we strive to build a stronger community.”

At the event, the Annual CSR Report showcasing the company’s various social initiatives was also presented to the District Collector. A gynecologist facility at the company’s OPD centre to facilitate medical support for pregnant women in nearby villages and a beautician course at ECL’s Skill Development Centre was also inaugurated. The company for long has focused on many initiatives to improve the livelihood of village communities through active CSR in the areas of Health, Education, Empowerment, Infrastructure Development and Sports.

Teen Karate Star Shreya Talwar Wins Gold, contributes to Karnataka’s Victory At South India Championship

22nd August, Chennai: In a spectacular display of skill and determination, 15-year-old Shreya Talwar from Greenwood High School, Bannerghatta, Bengaluru, clinched the Gold medal in the Junior category at the 3rd South India Zonal Championship held in Chennai on 17th-18th August 2024. The championship, organized by the South Indian Karate Federation at Chennai and recognized by the Karate India Organisation (KIO)—a member of the World Karate Federation (WKF)—saw fierce competition from participants across the southern states.

Shreya’s victory significantly contributed to the Karnataka Karate Team’s overall success, as the team bagged an impressive total of 77 medals at the event. The Karnataka players, backed by the Akhila Karnataka Sports Karate Association (AKSA), served as a platform for showcasing some of the best Karate talent in the region.

This remarkable achievement is not just a personal triumph for Shreya but also a testament to the power of women in sports and self-defense. Under the guidance of her coach, Shreeja Sunil, who runs the Japan Shotokan Karate-Do India academy in Bengaluru, Shreya has risen as a star in the world of Karate. Coach Shreeja, a dedicated advocate for empowering women through martial arts, led her students to a total of 13 medals at this championship. Her efforts to promote the sport and self-defense among women in today’s age are commendable.

Shreya’s story, along with her coach’s relentless dedication, serves as an inspiration for aspiring female Karate players across the country. Together, they are breaking barriers and redefining the role of women in sports, demonstrating that with the right support and mentorship, young women can achieve extraordinary heights in any field.

BharatBox partners with Shemaroo Entertainment to launch digital collectibles

India, 22nd August 2024: BharatBox, an India focused metaverse venture between The Sandbox and Brinc, today announced the launch of ‘Jab We Met’ digital collectibles, in a strategic partnership with Shemaroo Entertainment, a leading player in the entertainment industry. BharatBox will prioritize India to make it its largest market within the next 2 years. Leveraging Shemaroo Entertainment’s six-decade legacy of captivating audiences with diverse content, BharatBox aims to bring 1 million users into the metaverse, which will rank at the top of the blockchain gaming ecosystem.

Globally, the blockchain gaming market is projected to grow from USD 154.46 billion in 2023 to USD 614.91 billion in 2030 at a CAGR of 21.8% while the metaverse in gaming market is expected to reach around USD 648.24 billion by 2034, expanding at a CAGR of 34% from 2024 to 2034.

This collaboration with Shemaroo Entertainment will significantly increase fan engagement, by introducing Bollywood IPs and iconic characters into the metaverse, starting with a digital collectibles series based on the beloved film ‘Jab We Met,’ IP owned by Shemaroo Entertainment. Further, BharatBox will look to partner with multiple brands and create 15 such IPs by March 2025.

BharatBox set within The Sandbox metaverse is a subsidiary of Animoca Brands which allows users to build, own and monetize their gaming experiences. The first offering from this partnership will be the “Jab We Met” avatar collection, featuring 3,333 unique digital collectibles of ‘Geet,’ the iconic character portrayed by Kareena Kapoor in the film. Fans will have the opportunity to own a piece of their favourite movie, as well as engage with the character and get rewarded for it. This includes winning exclusive merchandise and participating in various social and gaming quests designed to enhance the immersive experience.

This initiative will open up new revenue streams for both BharatBox and Shemaroo Entertainment through digital collectibles and interactive games. This will allow the company to create more games and user experiences around these IPs. BharatBox will support and guide in production of the game design, game play and creating user experiences. Shemaroo Entertainment will get access to players and creators across 12 plus countries on the metaverse, expanding its digital footprint and engaging a global audience.

“By creating these avatars, we are offering fans a novel way to interact with their favourite character,” said, Sebastien Borget, Co-founder and COO of The Sandbox. He added, “The Jab We Met avatar collection not only honours a film that has touched many lives but also sets a precedent for how we can keep cinematic wonders relevant and alive for years to come.”

“This launch is a significant step in merging the intent to drive interactive engagement of blockchain and the timeless charm of Bollywood. Going forward, we will see more of such innovations on blockchain and Metaverse which will transform fan engagement. Launching this avatar collection allows fans to own a piece of their beloved movie and engage with it in an innovative way,” said Karan Keswani, CEO of BharatBox.

On the launch, Arghya Chakravarty, Chief Operating Officer, Shemaroo Entertainment Ltd. said, “By embracing new technologies, we aim to be future ready, catering to evolving needs of the consumers. The launch of the ‘Jab We Met’ immersive game and digital collectibles represents a significant step in our strategy to leverage the metaverse and expand our digital footprint. The blend of traditional entertainment with cutting-edge digital experiences will provide fans with unique and interactive forms of entertainment.”

With this partnership BharatBox which forayed into the Indian market last year, will also gain rights to the other popular Bollywood Ips owned by Shemaroo Entertainment such as 22 yards, Great Gambler and many more, which will allow the company to create more games and user experiences around these IPs.

Last year, BharatBox also unveiled their project of Mahabharata in the metaverse where users navigate through the Puranic Realms, relive epic battles, and craft their own legends within the epic’s narrative. This interactive realm fosters a deep, personal connection with the epic, enhancing its educational and cultural significance.

Wibmo to Participate in Global Fintech Fest 2024 at PayU Booth J1

Bengaluru, August 2024 – Wibmo, a PayU company, and a leading innovator in payment security, fraud and risk management, tokenization, payment gateways, prepaid cards, and digital financial services, is thrilled to announce its participation in the Global Fintech Fest 2024 (GFF). This prestigious event will be held from August 28th to 30th at the Jio World Convention Centre, Mumbai, where Wibmo will be prominently featured at the PayU booth J1.

Why Visit Wibmo at GFF 2024?

As the fintech landscape rapidly evolves at a rapid pace, Wibmo remains at the forefront, delivering innovative, secure, and seamless payment solutions that cater to the needs of banks, fintechs, and financial institutions. At GFF 2024, attendees will have a unique opportunity to explore Wibmo’s comprehensive suite of offerings, designed to enhance security, ensure compliance, and elevate user experience in digital payments.

Key Highlights:

Product Showcases and Launches: Wibmo will be showcasing its latest products and innovations in collaboration with PayU and Wibmo’s partners, to address the challenges and opportunities in today’s fintech environment.

Meet the Experts: Engage with the senior leadership from PayU as well as Wibmo’s CEO, Suresh Rajagopalan, and other Wibmo leaders. Gain valuable insights into the latest trends and advancements shaping the future of fintech and banking.

Strategic Partnerships: Discover opportunities for collaboration with Wibmo, a company committed to driving the future of digital payments through continuous innovation and strategic partnerships.

Wibmo’s presence at GFF 2024 is not just about showcasing technology; it’s about shaping the future of secure digital payments and helping businesses leverage these innovations to stay competitive in the digital age.

For those keen on enhancing their understanding of the latest advancements in digital payments, a visit to the Wibmo booth at GFF 2024 is essential.

Schbang and BGMI collaborate with Bengaluru Traffic Police to improve road safety for safer commutes

Mumbai, 22 August, 2024: Battlegrounds Mobile India (BGMI) is India’s most popular multiplayer battle royale game developed by KRAFTON, where players are dropped onto an island and must fight to be the last one standing. Players can choose to play solo, in duos, or in squads of four, across the various modes and maps available in-game. It has become so popular within the audience, that BGMI includes gameplay reminders that prompt players to practice safety skills and take regular breaks, to encourage responsible gaming habits.

Tapping into the culture of this audience, they also noticed that a lot of this same audience also prefers searching for their thrills off-screen, and on the road, leading to quite a few casualties owing to their daring actions. The risk-taking should be restricted to your in-game activities only, and to address this, the BGMI x Schbang team, decided to tackle this conversation in an innovative way using in-game and on-ground billboards, and social media conversations.

The Joint Commissioner of Bengaluru Traffic Police, MN Anucheth, mentioned that though Bengaluru’s traffic congestion is well-known, accidents due to negligence pose a more critical issue; stating on-road fatality rates in age groups from 18 to 30 year-olds are 50% due to not wearing helmets, and 12–15% due to overspeeding.

In line with this exciting approach to road safety, BGMI has teamed up with the Bengaluru Traffic Police to spread awareness about safe driving practices. Ideated and executed by Schbang and implemented by Sahil Sardana of Monday Ventures, the initiative emphasises the importance of wearing BIS-approved helmets, which are crucial for protecting riders and ensuring a safe ride.

Each billboard draws parallels between game scenarios and traffic safety messages: one emphasises helmet safety by comparing in-game protective gear to real-world helmet use; another contrasts the thrill of speeding in-game with the dangers of real-life overspeeding; and a third underscores that unlike in the game, there are no second chances after serious accidents.

“We’re thrilled to bring in-game moments to real-life by collaborating with Bengaluru City Traffic Police. This was an ideal opportunity to connect with our audience, and make a significant impact off-screen, transforming our iconic Lone Survivor, the Level 3-helmet guy, now a symbol of road safety for all;” says Srinjoy Das, Associate Director, Marketing.

This campaign aims to leverage BGMI’s influence to promote safer driving practices and reduce traffic accidents, by educating and engaging the community in a fun and interactive way, ensuring that every journey is as thrilling and safe as possible.

Sushant Vithaldas, Head Business Operations – Bangalore, Schbang expressed, “This campaign aims to engage our consumers with the very important message that risks should be taken only within a game, but not in real-life. BGMI being one of the most popular games, we chose to use the game itself as a language with visual and copy that our audience resonate with across each asset created across digital billboards, in-game billboards and social media platforms, emphasising the importance of applying protective measures from BGMI to real-life situations for enhanced safety. This approach aims to increase recall and relatability, effectively driving home the message of road safety and highlighting that in real life, there’s no second chance to revive. “

Inflection Point Ventures announces full exit from Fashor with 33% IRR

Chennai, 22nd August, 2024: Inflection Point Ventures, one of the most active angel platforms with over Rs 720 crore invested across 200+ startups, has announced a full exit from Fashor with a 33% IRR. IPV has achieved 3.75X MoM (Money over money) from this exit within 54 months of investing in the company. This success underscores IPV’s strategic expertise in nurturing and guiding its portfolio companies to thrive in the competitive startup landscape.

Commenting on the exit, Mitesh Shah, Co-Founder, Inflection Point Ventures, says, “Our exit strategy, which is backed by data, collected over years of investing in Indian startups, continues to prove beneficial for our investors. As one of the largest angel platforms in India, it is our primary duty to not just find innovative startups to invest in but also look out for the right time to exit. We have maintained an impressive track record with that and as we continue to invest in Indian startups, we will also keep bringing exits that deliver high returns to our investors.”

Fashor, a fast-growing fashion brand, offers trendy and affordable Indian and fusion wear for women. It has made a significant impact by launching an extensive range of designer styles on its website Fashor.com, catering to the growing online demand for branded clothing in India. Known for its diverse and affordable offerings, Fashor has emerged as India’s largest brand in terms of the number of designs launched per month. With a focus on innovation and customer satisfaction, Fashor has successfully addressed the need for affordable designer clothing, making it accessible to a wide audience across the country.

IPV recognized Fashor’s unique strengths and opportunities. The collaboration was designed to go beyond traditional investment relationships. IPV worked closely with Fashor to refine their strategies, shape their business model, and craft a strong fundraising and exit plan.

IPV’s commitment extended to connecting Fashor with key industry professionals, helping the company build a network of the right experts to guide them through a planned growth and exit map.

Vikram Kankaria, CEO, Fashor, says, “Our partnership with Inflection Point Ventures has been instrumental in driving our growth and success. Their strategic guidance and support have enabled us to scale rapidly and achieve remarkable milestones. We look forward to continued innovation and expanding our impact in the fashion industry.”

Inflection Point Ventures (IPV) has shown impressive growth over the last few years. In 2022, IPV celebrated a notable milestone with 12 successful exits, achieving an impressive 160% IRR. Building on this momentum, IPV continued to perform strongly in 2023, completing 14 exits with a solid 61% IRR despite the challenging funding winter.

As of 2024, IPV’s accomplishments include a total of 45 exits with an average IRR of 128%. This impressive track record highlights IPV’s commitment to driving growth and delivering substantial returns for its investors.

Shiprocket Launches Omnichannel Marketing Platform to Boost ROAS for 150,000 Merchants

New Delhi, August 22, 2024: Shiprocket, India’s 4th largest eCommerce enablement platform, today announced the launch of Engage 360 World’s First Data-Powered Marketing Automation Platform. With the aim to empower over 1.5 lakh merchants across India, Engage 360 offers an unprecedented level of marketing automation and intelligence, helping merchants drive growth, increase customer loyalty, and optimise marketing spend. The launch is in line with Shiprocket’s mission of enabling business growth for MSMEs by providing them with the right tech stack solution.

Marketing automation has become a cornerstone of modern marketing strategies. Salesforce reports that a staggering 67% of marketing leaders leverage these platforms to enhance customer experiences. Shiprocket Engage 360 aligns perfectly with this trend by offering a suite of tools designed to deliver unparalleled personalization and customer engagement. With features like anonymous user identification, Shiprocket’s extensive network enables businesses to tailor marketing efforts without compromising privacy. AI-powered smart segments allow for precise targeting based on customer behaviour, while RTO prediction helps optimise delivery strategies and reduce costs. For instance- Shiprocket Engage 360’s RTO suite powered by WhatsApp can reduce RTO rates by up to 40% and merchants using it have reported a 10x return on investment.

Moreover, Shiprocket Engage 360’s omni-channel capabilities, including WhatsApp, SMS, Email, and RCS, ensure that businesses can reach customers across their preferred channels, providing a unified and seamless experience. By leveraging these intelligent segments and AI-powered content, merchants are not only improving engagement but are also seeing a direct contribution to their top line, with sales increases as high as 15%. As part of our ongoing commitment to innovation, we are sunsetting Wigzo to consolidate more features and enhance the Shiprocket Engage 360 platform, ensuring it remains at the forefront of marketing automation and customer engagement.

Saahil Goel, MD & CEO, Shiprocket said, “With the launch of Shiprocket Engage 360, we are taking a giant leap forward in enabling eCommerce merchants to not only survive but thrive in the digital age by delivering personalised customer experiences at scale by harnessing the power of data-driven marketing. Shiprocket Engage360 is not just a platform; it’s a game-changer that leverages data to drive real results. With the Indian eCommerce industry moving towards growing into a $300 billion industry by 2030, marketing automation is going to play an important role in bolstering this growth. By combining advanced data analytics with comprehensive marketing tools, we’re helping merchants compete in today’s fast-paced landscape. Our commitment to ensuring that every merchant, regardless of size, can achieve sustainable growth and unparalleled success remains as strong as ever.”

“With Shiprocket Engage 360, we are redefining the future of eCommerce marketing,” said Praful Poddar, Chief Product Officer at Shiprocket. “By harnessing the power of data and automation, we are empowering merchants to make informed decisions, deliver personalised experiences, and ultimately achieve greater success. In today’s digital landscape, data is the new oil, and Shiprocket Engage 360 is the refinery that turns that data into tangible business growth. ”

While platforms like Contlo and WebEngage specialise in marketing solutions, and others such as KwikChat, AI Sensi, BusinessOnBot, BikAI, Pragma, Bitespeed, and Limechat focus on WhatsApp marketing; Shiprocket Engage 360 brings out the best of both worlds and stands out as a comprehensive suite of Omnichannel Marketing solutions for eCommerce. These platforms, combined with Shiprocket Engage 360, create a robust ecosystem that addresses the diverse needs of eCommerce businesses. By providing a unified platform with advanced features like anonymous user identification, smart segmentation, and omni-channel marketing capabilities, Shiprocket is setting a new benchmark for the industry. Shiprocket Engage 360 empowers merchants to unlock the full potential of their businesses and achieve sustainable growth.

Girish Divekar Joins The Westin Hyderabad Mindspace as Director of Sales & Marketing

The Westin Hyderabad Mindspace is delighted to announce the appointment of Girish Divekar as the Director of Sales & Marketing, ushering in a new era of leadership for the prestigious establishment.

With a remarkable experience of over 18 years in the hospitality industry, Girish brings a wealth of knowledge and expertise to the team. His exceptional performance at establishments such as Oberoi, The Leela Group, and Taj is a testament to his dedication and capabilities.

In the past, Girish has been instrumental in launching several successful brand campaigns and has a proven track record of increasing market share and revenue through innovative marketing strategies. His expertise in digital marketing, brand management, and customer engagement will play a crucial role in enhancing the hotel’s competitive edge. In his new role at The Westin Hyderabad Mindspace, Girish will oversee sales and marketing, aiming to elevate the hotel’s market presence and drive revenue and growth. His strategic vision and deep understanding of the industry are poised to further strengthen the hotel’s positioning and guest satisfaction. Girish’s extensive background in managing large-scale marketing campaigns, coupled with his ability to forge strong relationships with key stakeholders, makes him exceptionally well-suited for leading strategic initiatives and driving impactful results.

Speaking of his new role and appointment, Girish Divekar stated, “I am excited to join The Westin Hyderabad Mindspace as the Director of Sales & Marketing. I am eager to join a team that is talented and apply my extensive experience and insights to elevate the hotel’s distinguished brand and achieve our strategic goals. I look forward to cross collaborating with the dedicated teams here to deliver exceptional experiences for our guests and stakeholders.”

Speaking of Girish Divekar’s appointment, General Manager of The Westin Hyderabad Mindspace, Deep Preet Bindra said “We are delighted to welcome Girish as the new Director of Sales & Marketing at The Westin Hyderabad Mindspace. His impressive track record and deep industry knowledge make him a valuable addition to our team. We are confident that his expertise will play a pivotal role in further strengthening our brand and driving our strategic initiatives forward.”

The team at The Westin Hyderabad Mindspace is confident that Girish will leverage his experience to exceed expectations in his new role at Marriott International. His commitment to excellence and innovative approach to sales and marketing are expected to drive the hotel to new heights of success.