Author: Rabindra

Bandai Co., Ltd. Partners With Xsolla to Launch the Tamaverse Ticket Shop Online

India, 28th May 2024: Xsolla, a global video game commerce company, has successfully helped power the Tokyo-based game Tamagotchi Uni, a Bandai Co., Ltd. service offered through the Xsolla Web Shop technology. Specializing in advanced game payment solutions for developers across various platforms, including mobile, PC, cloud, and the web, Xsolla is committed to enhancing player engagement and fulfilling the needs of gamers around the globe.

This partnership is set to provide “Tamagotchi Uni” users with a convenient payment environment for purchasing and downloading digital content, enabling them to play and pay for their gaming experience in any way they want. Additionally, leveraging this solution to support payment solutions in various countries worldwide contributes to securing global reach, scale, and revenue for “Tamagotchi Uni.

David Stelzer, President of Xsolla, expressed his excitement about the collaboration: “Partnering with Bandai Co., Ltd. to integrate our cutting-edge payment solutions into ‘Tamagotchi Uni’ represents a significant milestone. This partnership goes beyond technology integration; it’s about enhancing the gaming experience for users worldwide and expanding ‘Tamagotchi Uni’s revenue streams.”

iVOOMi Expands Dealer Network with First Appointment in Rajasthan

New Delhi, 28th May 2024 – iVOOMi, a prominent player in the electric vehicle industry, proudly announces its entry into Rajasthan with the appointment of its first dealer in Ajmer. This pivotal move marks the beginning of iVOOMi’s ambitious expansion in the state, highlighting the company’s rapid and strategic growth across India.

Renowned for its innovative and sustainable EV solutions, iVOOMi’s move into Ajmer represents its dedication to broadening the accessibility of electric vehicles. This dealership marks iVOOMi’s first foothold in Rajasthan and exemplifies the company’s commitment to supporting the Indian government’s vision for a greener future.

With the new dealership in Ajmer, iVOOMi aims to provide consumers in Rajasthan with easy access to its high-performance electric scooters. The dealership will offer comprehensive services, including sales, after-sales support, and maintenance, ensuring customers receive a seamless and satisfying experience.

iVOOMi has been a trusted name in the electric vehicle industry for over three years, offering reliable and innovative solutions. Its electric scooters have been rigorously tested, ensuring their durability and performance even after covering over a million kilometers. iVOOMi offers a range of successful electric scooter models, known for their quality, performance, and reliability. The scooters feature removable batteries, showcasing the brand’s commitment to customer service and convenience. With a mileage of 170 KM with a Single Battery, and up to 300 KM with a Dual battery Option, iVOOMi’s scooters provide customers with extended range and flexibility.

Expressing his excitement, Mr. Ashwin Bhandari, co-founder and CEO of iVOOMi, stated, “We are delighted to establish our presence in Rajasthan by opening our first dealership in Ajmer. This expansion is a pivotal step in our mission to extend our reach across India. Our goal is to offer sustainable and innovative mobility solutions to every part of the country, and this new dealership is a key milestone in that journey.”

Fuelled by the surging demand for electric vehicles and a steadfast focus on customer satisfaction, iVOOMi is rapidly expanding its dealer network. The Ajmer dealership reinforces iVOOMi’s status as a leading EV brand, ensuring its state-of-the-art products reach an even wider audience.

The new dealership will feature iVOOMi’s latest models, including the highly praised JeetX ZE, known for its advanced features and outstanding performance. Customers will also benefit from exclusive offers and flexible financing options, making the transition to electric mobility more accessible and convenient.

6.1 Million Job Applications in Maharashtra Led by Freshers and Women: apna.co Report

Mumbai, 28th May 2024: Maharashtra’s job market has shown remarkable growth in the first four months of 2024, according to the latest report from apna.co, India’s leading jobs and professional networking platform. The report reveals a substantial 61 lakh job applications, underscoring strong demand for employment across multiple sectors such as Banking and Finance, Insurance, e-commerce, Hospitality, etc. Women contributed significantly to this surge, accounting for 27 lakh of the total applications.

apna. co has reported a remarkable 19 lakh job applications from freshers for key roles in Business Development, Customer Success Growth, and BPO, reinforcing its position as a leading platform for job seekers in India. The high volume of applications from freshers underscores Maharashtra’s importance as a critical market for apna.co in its mission to become the go-to platform for job seekers. Additionally, the platform received 14,000 applications for international jobs, showcasing apna.co’s commitment to supporting job seekers aspiring to build their careers abroad.

Women’s participation in Maharashtra’s job market is also noteworthy, with 27 lakh job applications, making it the second highest in India after Delhi NCR. This significant contribution reflects the active involvement of women in the region’s workforce. Historically, women in Maharashtra have been front-runners in seizing opportunities, and their strong representation in job applications continues this trend.

In a notable surge, apna. co has recorded 23,000 jobs in Maharashtra until April 2024, significantly boosting the job market. Particularly, SMBs from tier 2 cities like Nasik, Nagpur, and Aurangabad have emerged as key contributors to this growth. These cities are witnessing a pronounced increase in job opportunities, signaling a promising trend in regional employment dynamics. apna.co’s focus on expanding into tier 2 and 3 cities underscores its commitment to fostering inclusive economic development across Maharashtra.

Nirmit Parikh, Founder and CEO of apna.co, commented, “The substantial increase in job applications in Maharashtra mirrors the region’s dynamic economic development. This surge aligns perfectly with the Maharashtra state government’s visionary goal to achieve a $1 trillion economy within the next five years. At apna.co, we’re dedicated to fostering this growth by facilitating meaningful connections between employers and talented individuals, contributing significantly to Maharashtra’s economic prosperity and job creation journey.”

Amidst the surge of SMBs, established enterprises also trust apna.co for their expansion and growth. Serving as a reliable partner for top enterprises, apna.co has seamlessly met their hiring needs, solidifying its reputation as the go-to platform for talent acquisition. Renowned names like Lenskart, HDFC Insurance, Bajaj Finserv, Aditya Birla, and Tata are actively seeking top-notch professionals across diverse roles such as accounting, technical expertise, sales and marketing, BPO, and finance. With its unwavering commitment to quality and innovation, apna.co continues to be the preferred destination for companies and job seekers alike, driving forward the narrative of progress and prosperity in Maharashtra.

EaseMyTrip posts Highest-Ever EBITDA

Mumbai, 28th May 2024: EaseMyTrip.com, one of the leading online travel tech platforms in India, sustained its momentum during this quarter. For Q4FY24, the Revenue from Operations was INR 1,640 million, up by 41%
Y-o-Y. EBITDA was INR 577 million, up by 24% Y-o-Y and the Profit Before Tax was
INR 551 million, a Y-o-Y growth of 24%. Furthermore, the Gross Booking Revenue (GBR) was INR 20,900 million in Q4FY24.

In Q4 FY24, our non-air segment saw robust growth wherein the total hotel night bookings were 1.4 Lacs which grew by 39% and the other bookings were 2.7 Lacs by 53%. For FY24, the hotel night bookings and the other bookings were 5.2 Lacs by 49% and 10.4 Lacs by 67%, respectively.

For FY24, the Revenue from Operations was INR 5,906, a growth of 32% Y-o-Y. The EBITDA was INR 2,282 million, a 19% of Y-o-Y growth, and the reported Profit Before Tax of INR 2,151 million, a growth of 16% Y-o-Y. This strong performance underscores EaseMyTrip’s continued momentum and further strengthens its position as one of the few profitable new-age tech companies in the industry. Additionally, the company recorded a GBR of INR 85,126 million in FY24, further strengthening its market position.

In addition to achieving strong financial performance this quarter and FY24, EaseMyTrip initiated significant collaborations to position itself as a growth-oriented company. Following a significant event in Indian history, the company acquired a 50% stake in Jeewani Hospitality and partnered with the Radisson Hotel Group to develop a 150-room Radisson Blu Hotel in Ayodhya City. This strategic move positions the hotel near the recently established Ram Mandir, enhancing its appeal and accessibility to 1.5 Lacs per day visitors.

In this quarter, EaseMyTrip also launched its new wholly-owned subsidiary, EaseMyTrip Insurance Broker Private Limited, to diversify its services into the INR 7.9 Trillion insurance market.

EaseMyTrip deepened its collaboration with the government, establishing a stronger alliance to jointly pursue shared objectives. It became the first travel partner for CSC e-Governance Services Limited, offering travel services including flight, hotel, bus, cab, holiday and activity to 8 lacs Village Level Entrepreneurs (VLE). These dedicated VLEs, representing CSC, play a pivotal role in delivering various services to citizens, with travel services being one of the key offerings. Additionally, it partnered with the Ministry of Rural Development to empower women’s self-help groups through skill development under the Lakhpati Didi Yojana. A significant step towards empowering women.

Through its EaseMyTrip Foundation and contributing to CSR, the company established a Memorandum of Understanding (MOU) with the Archaeological Survey of India (ASI). This partnership aims to designate EaseMyTrip Foundation as the Smārak Särathi (Monument Mitra) for four of India’s most esteemed historical monuments, as part of the government’s Adopt a Heritage 2.0 program. As the designated Smārak Särathi, EaseMyTrip will be responsible for the upkeep and enhancement of four prestigious historical monuments: Qutb Minar in Delhi, the Sun Temple in Konark, Agra Fort, and the Western Group of Temples in Khajuraho witnessing footfall of over 60 Lac visitors annually.

The company has played a pivotal role in expanding its range of products and services to provide a comprehensive solution for all travel needs. Embracing this approach, EaseMyTrip introduced the “PNB EMT Credit Card” in collaboration with Punjab National Bank helping EaseMyTrip reach out to millions of PNB customers through its 10,100 + branch network across the country.

Furthermore, EaseMyTrip partnered with Zoomcar to offer self-drive car rentals through its platform, enhancing travel convenience for its customers.

EaseMyTrip remains dedicated to expanding its domestic footprint by strategically opening physical franchise stores across the country by launching 4 franchise stores in Indore, Gurugram, and Jalgaon, in this quarter, underscoreing the company’s commitment to enhancing accessibility to travel services.

The company conducted its first nationwide roadshow aimed at fostering business connections and dialogue within the thriving tourism industry of the nation. The initiative witnessed roadshows in cities including Kolkata, Raipur, Nagpur, and Indore, and saw participation from 1800+ B2B agents. This initiative was conducted in close collaboration with EaseMyTrip’s recently acquired domestic travel brands, Guideline Travels, and Dook Travels.

Lastly, EaseMyTrip has been honored with the prestigious title of Online Travel Agent of the Year by the SATTE India Awards and also has been recognized with the Versatile Excellence Travel Award (VETA) 2024 for the Best Online Travel Agency. These accolades are a testament to EaseMyTrip’s commitment to excellence, innovation, and the creation of a comprehensive travel ecosystem that caters to the needs of travelers across the nation.

Q4 FY24 Key Developments

Business Expansion

EaseMyTrip launched its latest subsidiary, EaseMyTrip Insurance Broker Private Limited. This initiative underscores the company’s commitment to broadening its portfolio and venturing into the insurance sector with a tailored solution to address the rising customer demands. The establishment of this new venture is poised to strengthen EaseMyTrip’s foothold in the market, targeting a vast INR 7.9 trillion industry alongside its existing ~26 million user base. By venturing into insurance brokerage, the company not only enhances its service spectrum but also paves the way for diversified business operations and revenue growth.

Strategic Partnership

EaseMyTrip, acquired 50% stake in the Jeewani Group, and established a partnership with Radisson Hotel Group to develop a 150-room Radisson Blu Hotel in Ayodhya City. The upcoming Radisson Blu Hotel, Ayodhya, expected to open in 2027, represents a greenfield project positioned to cater to the substantial demand from 1.5 Lacs per day visitors visiting Ayodhya.

Government Tie-up’s

EaseMyTrip entered into a MoU with the Ministry of Rural Development to provide training for members of the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission Self-Help Groups under the Lakhpati Didi Yojana. This initiative is designed to help over ~1.8 Crore identified Didis to develop their entrepreneurial abilities and empower them to achieve financial independence.

EaseMyTrip has collaborated with Common Services Centre (CSC) e-governance Services Limited, positioning itself as the first travel partner to provide comprehensive travel solutions including flight, hotel, holiday, bus, cab and activities to CSC and its extensive network of 8 Lacs VLEs. These dedicated VLEs play a crucial role in delivering various services to citizens, with travel services being a key offering.

EaseMyTrip Foundation, a wholly owned subsidiary of EaseMyTrip, has partnered with the government as part of the government’s Adopt a Heritage 2.0 program to spearhead a comprehensive plan aimed at enhancing the upkeep, maintenance, and visitor experience at heritage monuments. This collaborative effort encompasses infrastructure upgrades, provision of on-site amenities, and educational initiatives to promote awareness about the historical and cultural significance of these sites. As the designated Smārak Särathi, EaseMyTrip will be responsible for the upkeep and enhancement of four prestigious historical monuments: Qutb Minar in Delhi, the Sun Temple in Konark, Agra Fort, and the Western Group of Temples in Khajuraho witnessing footfall of over 60 Lac visitors annually.

Corporate Travel Solutions

EaseMyTrip has announced a partnership with Zaggle Prepaid Ocean Services Limited, a SaaS FinTech company specializing in spend management solutions for corporates. This collaboration aims to deliver integrated travel and expense management solutions to EaseMyTrip’s corporate clients. Through this partnership, EaseMyTrip’s corporate customers will gain seamless access to Zaggle’s Expense Management System (EMS) platform.

New Product Launches

EaseMyTrip has collaborated with Punjab National Bank (PNB) to introduce the PNB EMT Credit Card. The card offers a 10% discount on flight bookings, a 20% discount on Hotel bookings, and a flat INR 125 off on Bus bookings. Additionally, the PNB EMT Credit Card features a built-in wallet for secure and hassle-free contactless payments. Millions of PNB customers through its 10,000 plus domestic branches networks across the country

Roadshow

EaseMyTrip conducted our first nationwide roadshow aimed at fostering business connections and dialogue within the thriving tourism industry of the nation. The initiative witnessed roadshows in 12 cities starting from Kolkata and saw participation from 1800+ B2B agents. This initiative was conducted in close collaboration with EaseMyTrip’s recently acquired domestic travel brands, Guideline Travels, and Dook Travels.

Expanding Franchise Business

EaseMyTrip inaugurated its first physical stores in Indore and Jalgaon, alongside the launch of two franchise stores in Gurugram. The launch of these franchise stores reflects EaseMyTrip’s dedication to enhancing accessibility to travel services through a blend of digital and physical channels. Customers can now access a wide range of travel-related services, including air and hotel bookings, bus and rail reservations, group travel packages, visa applications, and exclusive vacation, cruise, and charter options.

Awards & Recognition

EaseMyTrip has achieved significant recognition, being honored as the Online Travel Agent of the Year by the SATTE India Awards and received the Versatile Excellence Travel Award (VETA) 2024 for the Best Online Travel Agency. These prestigious accolades underscore EaseMyTrip’s dedication to excellence, innovation, and the development of a comprehensive travel ecosystem tailored to meet the diverse needs of travelers

Mygate partners with ACKO to deliver Smarter Insurance at Exclusive Prices to 4mn Households

Bengaluru, India, 28th May 2024: Mygate, a living experience tech company, has recently received its aggregator license from the Insurance Regulatory Development Authority of India (IRDAI) to make insurance policies available to its users. This follows the strategic partnership that Mygate entered with ACKO, the tech-first insurer.

Through this partnership, both companies endeavor to deliver intelligent digital protection solutions tailored to the evolving needs of the 4 million households on the Mygate app. By integrating ACKO’s insurance services seamlessly into its platform, Mygate aims to bring insurance closer to home, making it hassle-free and easily accessible to its users. To begin with, the partnership will enable Mygate users looking to opt for car insurance to have easy access to policies at exclusive prices, timely reminders for renewal, and instant paperless claims.

Mygate has also introduced the unique ‘auto insurance reminder’ feature, powered by cutting-edge technology. The feature will enhance the overall customer experience on the app and enable users to benefit from the vast variety of protection offerings.

To further strengthen the partnership, the companies will look at expanding the product offerings beyond motor insurance, adding health and life insurance to the portfolio with solutions such as outpatient department (OPD) covers and RWA liability insurance. This will provide holistic insurance solutions powered by ACKO to the Mygate ecosystem.

Abhishek Kumar, Co-founder & CEO, Mygate, said, “Our commitment to improving living experience via technology is strengthened by the ability to offer tailor-made insurance for the gated community residents. We are already seeing a very positive reception to the launch and availability of car insurance via the Mygate app, and are excited to uncover what the future holds, as we continue to bolster this partnership and innovate with ACKO.”

“At ACKO, it’s our constant endeavor to create for the customer. Together with Mygate, we are working at redefining protection beyond auto insurance, and trying to solve for every aspect of the customers’ lives with our holistic approach. This partnership will help us leverage the potential of our tailor-made solutions and establish us as an integral part of the everyday lives of many million households,” said Animesh Das, CEO, ACKO General Insurance.

Discover India’s Largest ‘Flamingo City’ at Phoenix Mall: A 28-Foot Magical Oasis Installation

Pune, 28th May 2024: India’s largest Flamingo City at Phoenix Mall of the Millennium represents a convergence of artistry, innovation, and environmental consciousness. India’s largest flamingo installation, standing at 28 feet tall, is more than just a visual spectacle; it’s a transformative experience that transports visitors into a realm of pink-hued wonder. Inspired by the concept of new beginnings, Flamingo City serves as a vibrant symbol of hope, growth, and the beauty of change.

Designed and conceptualized by Elementa Designs, Flamingo City is a testament to the power of imagination and creativity. Utilizing state-of-the-art technology and a deep understanding of the summer season’s essence, this exclusive diorama captures the essence of springtime renewal and the vibrancy of urban life. The result is a breathtaking display that blurs the lines between reality and fantasy, inviting visitors to explore the depths of their own imagination.

Quote from spokesperson

“We’re thrilled to present this novel flamingo city experience to our patrons, crafted to transport visitors into a realm of beauty and tranquility. Beyond mere aesthetics, this installation symbolizes our deep-rooted commitment to environmental consciousness. Flamingos, with their striking hues and graceful demeanor, serve as more than just ornamental figures. They are ambassadors of our fragile ecosystems, reminding us of the delicate balance that sustains life on our planet. Through this decor, we aim to spark conversations and raise awareness about the importance of preserving these habitats. Let us come together to marvel at nature’s wonders and reaffirm our collective responsibility towards nature.” – Vikram Pai (Centre Director – Phoenix Mall of the Millennium)

Witness a multi-sensory experience in the luxurious experiential mall with beautifully articulated décor as you walk through the interiors. Soaring vaulted ceilings and an artful play of soft lighting coalesce harmoniously establishes a backdrop that exemplifies the essence of luxury.

Wonder Works to Open Charleston, SC Retail Store Late June 2024

Charleston, SC, May 27, 2024 –Wonder Works, with retail stores in Mount Pleasant and downtown Charleston, S.C., announced today that the popular local store is returning to West Ashley with plans to open a third retail location late June 2024 at 1662 Savannah Highway. The new store totals over 2500 sq. ft. and is the former location of Ellifox Children’s Clothing Store.

“We operated in West Ashley for over 25 years, and we are excited to bring the magic back to West Ashley to offer another convenient location for all our customers,” says Elizabeth Royall Darby, owner of Wonder Works. Wonder Works closed its previous West Ashley location in 2020 to consolidate its operation during Covid. “We get calls and have customers asking us all the time if we’re still in West Ashley, and we believe there is a high demand for a specialty store in that part of town. We can’t wait to open our doors there again.”

Darby received a call from the owner of Ellifox in January 2024. Ellifox was in the process of selling the company to operate exclusively online and suggested Wonder Works as a tenant. “I thought it was a great location, particularly because it was previously a children’s store and its close proximity in the shopping center to Chick-fil-A and The Little Gym,” Darby says. “We’re starting with a soft opening in June, followed by an official grand opening in July.”

Wonder Works specializes in active play toys, games, gifts, books, and gadgets. Its popular national brands include Lego, Jellycat, Squishmallows, Barbie, Hot Wheels, Melissa & Doug, Fat Brain Toys, Tonies and more. “We’ve always been an experiential, hands on play toy store,” says Darby. “We specialize in top trending toys, and quite often, we’re asked to test toys for national brands right here in Charleston.”

Wonder Works is renowned for its toy industry expertise and friendly knowledgeable staff. “We are so blessed to have a loyal tenured staff at our stores,” adds Darby. “The West Ashley store presents new opportunities for our valuable team members. Everyone is excited about what’s next.” The store will be open seven days a week, offering complimentary gift wrapping and birthday bins.

BDA Advises TE Asia on Sale of HKIOC to New Frontier

New York, NY, May 27, 2024 — BDA Partners is pleased to announce that its client, TE Asia Healthcare Partners (“TE Asia”), a portfolio company of TPG Capital, has agreed to sell its stake in Hong Kong Integrated Oncology Centre Limited (“HKIOC”) to NF Nestor Investment Holding Limited (“New Frontier”).

BDA Partners acted as exclusive financial advisor to TE Asia and HKIOC’s other shareholders on the transaction.

HKIOC is the largest pure-play private oncology group in Hong Kong, with more than 80 staff, including 14 oncologists and radiologists, across three clinics.
New Frontier is one of the largest and fastest growing integrated healthcare service providers in China.

Antony Leung, Co-founder and Chairman of New Frontier Group, said, “Given the chronic and growing demand for quality cancer care in China, I’m grateful that we have found a partner who is not only a sector leader but also shares our corporate mission of Doing good and Doing Well, with Love.”

Prof. Ronnie Poon Tung-Ping, Founder of HKIOC, said “I am thrilled that HKIOC has joined New Frontier Group, a moment that fills entire team with tremendous pride. This partnership is a recognition of our accomplishments and growth as a comprehensive oncology diagnostic and medical centre since our establishment in 2015. The integration into New Frontier presents a significant opportunity to contribute to the medical development of the Greater Bay Area, and I hope our centres, along with the entire group, can lay a solid foundation in oncology for decades to come.”

Sophia Wu, Managing Director and Head of Healthcare China, BDA, said “We’re pleased to have found HKIOC a new partner and set the stage for its next phase of growth with New Frontier. This transaction further showcases BDA’s expertise in the Asian healthcare service sector.”

TE Asia and HKIOC’s other shareholders were also advised by Robertsons (legal) and KPMG (financial).