22, Sep 2023
Check Point Research Exposes Cybercriminal Behind Malicious Software Impacting EMEA and AP
“Legit” software becomes cybercriminals’ preferred choice
In an alarming trend highlighted in Check Point’s 2023 Mid-Year Security Report, seemingly legitimate software has become the preferred choice of cyber criminals. Notable examples are the Remcos Remote Access Trojan (RAT) and GuLoader, both advertised as legitimate tools but heavily utilized in cyberattacks, consistently ranking among the most prevalent malware. Although their sellers claim lawful usage, CPR found a strong connection between these tools and cybercrime.
While Remcos struggles to evade antivirus detection, GuLoader acts as its ally, helping it bypass protection measures. CPR discovered that GuLoader is rebranded and sold as a crypter, ensuring Remcos’ payload remains fully undetectable by antiviruses. Strikingly, the same administrator manages the platform, selling both tools while operating the official website and Telegram channels for Remcos. CPR found compelling evidence that this individual not only employs malware like Amadey and Formbook but also uses GuLoader to shield against antivirus detection. Domain names and IP addresses associated with the Remcos and GuLoader seller appear in malware analyst reports.
Guloader and Remcos are among the leaders of the (infamous) pack
In July’s Most Wanted malware report, CPR reported that RAT Remcos rose four places due to trojanized installers. Remcos now sits at third place after threat actors created fake websites last month to spread malicious downloaders carrying the RAT.
First detected in 2016, Remcos is a RAT that is regularly distributed through seemingly authentic Microsoft documents or downloaders that are actually malicious. It has been most recently observed in a campaign involving the Fruity malware downloader. The objective was to lure victims to download the Fruity downloader, which installed different RATs such as Remcos (known for its ability to gain remote access to the victim system) to steal sensitive information and credentials and conduct malicious activity on the user’s computer.
GuLoader and Remcos in 2023 – Finance and Education sectors key targets
According to intelligence from Check Point ThreatCloud AI
GuLoader: In the Finance/Banking sector, an average of 2.4% of organizations globally were affected monthly (equivalent to 1 out of 41 organizations)
GuLoader: most substantial impact in the EMEA region, with a monthly average impact of 4.7% (equivalent to 1 out of 21 organizations)
Remcos: In the Education/Research sector, an average of 2.8% of organizations globally were affected monthly (equivalent to 1 out of 35 organizations)
Remcos: greatest impact in the APAC region, with a monthly average of 2% (1 out of 50 organizations)
Deceitful Distributor is actually part of the illegal operation
CPR’s investigation leads to a clear conclusion: the seller/s of Remcos and GuLoader are well aware of their software being embraced by cybercriminals, despite their disingenuous claims. CPR aims to expose the criminal responsible for selling these tools, revealing their social networks and uncovering the significant illicit income generated through these activities. This study underscores the serious threat posed by dual-use software and highlights the need for heightened vigilance against such deceptive practices in the cybersecurity landscape.
In 2020, CPR exposed an Italian company that was selling the CloudEyE product through the website security code.eu and revealed its direct affiliation with GuLoader. Our findings forced the creators of CloudEyE to temporarily suspend their operations. On their website, they posted a message saying that their service is designed to protect intellectual property, not to spread malware.
After a few months, their website resumed the sale of CloudEyE. Soon afterward, CPR observed an increase in the number of new GuLoader attacks in our telemetry, as well as the appearance of new versions. Currently, we monitor dozens of new GuLoader samples on a daily basis.
In our previous article about the latest versions of GuLoader, we purposefully omitted any connection between CloudEyE and the new version of GuLoader because we observed the distribution of GuLoader under an alternative name “The Protector” on the website named “VgoStore.” VgoStore, as it turns out, is closely related to Remcos.
Remcos is a well-known remote surveillance tool, marketed for legitimate tracking and monitoring purposes. Since its appearance in 2016, we have been monitoring Remcos in many phishing campaigns. In addition to its typical remote administration tool features, Remcos includes uncommon functionalities such as man-in-the-middle (MITM) capabilities, password stealing, tracking browser history, stealing cookies, keylogging, and webcam control. These features go beyond the typical scope of a RAT and suggest a more intrusive and malicious intent.
Investigative Outcomes
CPR’s investigation uncovered a clear connection between an individual known as EMINэM and two websites, BreakingSecurity and VgoStore. These websites openly sell Remcos and GuLoader, rebranded as TheProtect. Additionally, we have gathered evidence of EMINэM’s involvement in distributing harmful malware, including FormBook info stealer and Amadey Loader. Moreover, EMINэM exploits TheProtect to evade antivirus detection for his own malicious activities.
The apparent legitimacy of BreakingSecurity, VgoStore, and their products is merely a façade. EMINэM and those behind these platforms are deeply entrenched in the cybercriminal community, using their websites to facilitate illegal actions and profit from selling malicious tools.
This discovery emphasizes the ongoing need for constant vigilance and cooperation in the fight against cybercrime. Law enforcement agencies, cybersecurity professionals, and the wider community must collaborate to expose and neutralize such threats. By shedding light on individuals like EMINэM and their associated platforms, we strive to create a safer digital environment that better safeguards individuals, organizations, and the overall digital ecosystem.
CPR has disclosed its findings to the relevant law enforcement bureau for further investigation
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- By Rabindra
22, Sep 2023
Mankind Pharma Partners with SpiceJet to Elevate Brand Awareness
Mumbai, 22nd September, 2023: Mankind Pharma, a reputed global pharmaceutical firm, is set to collaborate with SpiceJet, one of India’s major domestic airlines to elevate brand awareness. The spectacular display on SpiceJet’s plane with Mankind’s logo will not only capture the brand’s journey and vision, but also serve as a testament to Mankind Pharma’s dedication to innovation and raising the bar in the healthcare industry.
This association marks the next step in propagating Mankind Pharma’s vision of ensuring international quality medicines to all. Mankind Pharma has taken a pioneering step by introducing 120 DMF quality API medicines in the Indian market, which conform to stringent international standards.
Mr. Rajeev Juneja, Vice Chairman and Managing Director, Mankind Pharma, expressed his excitement and shared, “At Mankind Pharma, our continuous endeavor has been to improve lives through groundbreaking healthcare solutions. Our goal is to enable access to international quality API medicines for everyone. This has led to the introduction of 120 DMF quality API in our medicines.”
The medicines in the USA comply with stringent USFDA’s norms for quality, safety and effectiveness; defined by DMF (Drug Master File). The Drug Master File (DMF) has all the information on an API (Active Pharmaceutical Ingredient/Raw Material for medicines). It provides extensive data on the manufacturing, stability, quality, packaging, purity and impurity profile for authorities to ensure that medicines are up-to international standards in terms of quality.
This campaign, therefore, aims to raise awareness about DMF-grade API medicines and the need for affordable yet international quality healthcare. Mankind hopes to capture even larger audiences and elevate their brand image through thrilling airport promotions and media spotlights. By leveraging this partnership, Mankind Pharma plans to create a lasting impact on consumers, reaffirming their position as a trusted pharmaceutical company in the Indian industry.
About the collaboration, Debojo Maharshi, Chief Business Officer, SpiceJet expressed, “On behalf of SpiceJet, I congratulate Mankind Pharma for their vision of introducing 120 DMF quality API medicines in India, which is a testament to their commitment to quality and excellence in the pharmaceutical industry. We are proud to once again partner with them in celebrating this achievement by wrapping two of our Boeing 737 aircraft in their livery. SpiceJet’s unique flying billboards have become an integral part of the promotions for various top brands, and we are happy to offer this innovative and effective medium to Mankind Pharma once again. We look forward to a long and fruitful association with them.”
Two Spice Jet planes displaying Mankind’s vision of providing international quality API medicines will take off on the 21st of September. This will be a part of the larger campaign, which is aligned with one of the core focuses of the G20 India Presidency’s health initiatives, Universal Healthcare. The visibility and reach offered by SpiceJet’s extensive network provide an ideal platform to raise awareness about Mankind’s vision. This collaboration strategically leverages SpiceJet’s wide customer base and market presence to effectively communicate the message of Mankind Pharma’s dedication to excellence in medicine production.
22, Sep 2023
AI Market Soars with a 37.3 Percent CAGR by 2030, Reveals Dr Jung Hwan Lee, Founder Mind AI at FICCI Summit
New Delhi, September 22, 2023 – The Federation of Indian Chambers of Commerce and Industry (FICCI) successfully concluded the second day of its 14th edition of the Global Skills Summit, centred around the theme “Building Skills. Empowering Youth. Creating Future.” The focal point of the day’s discussions revolved around the ‘Future of Work in AI,’ with notable contributions from industry leaders.
The highlight of the event was a captivating address by Dr Jung Hwan (Paul) Lee, Founder & CEO of Mind AI, a prominent Korean company specialising in artificial intelligence. Dr Lee delivered an enlightening session on the ‘Future of Work in AI’ and unveiled insights into Korea’s National Strategy for Artificial Intelligence. During his speech, he emphasised the profound impact of AI on our future, stating, “AI is not just about enhancing efficiency; it will completely reshape the foundations of businesses and organizations across various sectors.”
Dr Lee also provided valuable statistics on the growth of the AI market, forecasting a remarkable 37.3% Compound Annual Growth Rate (CAGR) from 2023 to 2030. He further highlighted exponential growth in specific AI sectors, with a 40.4% CAGR in Global Natural Language Processing, 23.6% in Global Conversational AI, and 39.3% in Global Robotic Process Automation. Furthermore, Dr Lee shed light on Mind AI, describing it as both a new class of AI and an extensive ecosystem.
In the context of AI’s increasing importance, Dr Lee emphasized that businesses must adapt within the next 4-5 years or risk being left behind. The implementation of AI necessitates a higher demand for a broader set of skills, including digital proficiency, analytical capabilities, and critical thinking. He stated, “General and elementary knowledge of AI is becoming essential, often at a basic level, such as the ability to use a computer or smartphone. Analytical skills are gaining prominence as automation of routine tasks allows workers to tackle more complex assignments, requiring specialized knowledge, comprehension, and the application of innovative ideas.”
As part of Korea’s National Strategy for Artificial Intelligence, Dr Lee outlined various policy initiatives. These include an AI convergence curriculum across different life cycles and job types, interchangeability between AI and other fields at the university level, AI basic literacy training in the military through M-MOOC, and collaboration between Coursera and K-MOOC to provide digital skill courses. Korea’s commitment to nurturing AI talent and boosting youth employment rates was evident, with policies introduced over the past two decades, the development of National Competency Standards (NCS) for vocational high schools, and the establishment of Meister High Schools targeting employment rates exceeding 90% by 2022. Additionally, the youth employment quotas were raised from 3% to 5%.
Dr Lee concluded his session by introducing the innovative Mind AI, which transforms natural language inputs into internationally patented data structures referred to as “canonicals.” This transformation enables the Mind AI engine to make connections, perform logical operations, and generate intelligent responses.
The FICCI’s 14th Global Skills Summit continues to be a platform for insightful discussions on the ever-evolving landscape of skills and technology, driving India’s workforce towards a future defined by innovation and adaptability.
22, Sep 2023
Jeena & Company adopts AI integration to enhance logistics efficiency
Delhi-NCR, 22 September 2023: Jeena & Company, India’s leading trusted and reliable logistics company has introduced artificial intelligence to further improve productivity and enhance customer-focused working. The company has integrated its Customs House Agent (CHA) software with an AI solution that has already produced outstanding results.
Renowned for its steadfast commitment to cutting-edge technology, this innovation at Jeena & Company not only enhances productivity but also ushers in a new era of customer-centric logistics.
Among the notable achievements of this integration is the introduction of “Single Click Automation.” By infusing AI into various external interface processes, the Company has achieved remarkable efficiency gains. This includes the effortless digitization, signing, and uploading of PDF documents to external portals, accompanied by real-time tracking of all PDF documents within their ERP system. Additionally, the company now generates, digitally signs, and uploads flat files to the portal, automatically capturing bill numbers. As a result, lead times that once spanned 30 minutes have been drastically reduced to an astonishing 3 minutes.
Jeena & Company has also embraced API integration, elevating the client experience to unparalleled heights. With live portal data directly accessible on the application system, customers can retrieve vital information without the hassle of external portal logins. Moreover, the option to seamlessly download live Excel data from the external portal through Jeena & Company’s system simplifies data retrieval and analysis, ensuring clients have all the necessary tools at their disposal.
Mr. Meheriar Patel, Group CIO at Jeena & Company, commented, ” Our AI integration reflects our dedication to providing the most customer-centric solutions and enhancing our services to align with the evolving industry landscape. Our commitment to innovation propels us to consistently embrace the latest in tech and it has never disappointed us.”
22, Sep 2023
Deepak Goyal Embarks on a Mission to Simplify Data Engineering
New Delhi, 22nd September 2023 – Deepak Goyal, an Edupreneur figure in the world of technology and data, has embarked on a mission to revolutionize data engineering. With a vision to make data engineering more accessible and user-friendly, Goyal is set to transform the way organizations harness the power of their data.
Data engineering is the backbone of modern data-driven enterprises, enabling them to collect, store, and process vast amounts of data for critical insights and decision-making. However, the complexity and challenges associated with data engineering have often been a barrier for many businesses, hindering their ability to unlock the full potential of their data.
Deepak Goyal’s mission is centered on simplifying data engineering, making it more understandable and manageable for individuals and organizations of all sizes. His innovative approach seeks to break down the barriers that have traditionally hindered the adoption of data engineering practices.
Accessible Education: Goyal is committed to providing accessible and comprehensive educational resources that demystify data engineering. He believes that by equipping individuals with the right knowledge and skills, they can navigate the complex world of data engineering with confidence.
User-Friendly Tools: Goyal is actively teaching user-friendly tools and platforms that streamline data engineering processes. These tools are designed to empower data professionals and simplify the tasks associated with data collection, transformation, and analysis.
Community Building: To foster collaboration and knowledge sharing, Goyal is building a community of data enthusiasts and professionals. This community will serve as a hub for learning, networking, and problem-solving in the field of data engineering.
Deepak Goyal’s mission is not only driven by a desire to empower individuals but also to fuel innovation and progress across industries. He envisions a future where data engineering is no longer a barrier but a catalyst for growth and discovery.
In his own words, Deepak Goyal stated, “Data engineering should be an enabler, not a roadblock. My mission is to make it easy for anyone, regardless of their background, to harness the power of data. I believe that by simplifying data engineering, we can unlock a new era of possibilities for businesses and individuals.”
Goyal’s mission has already garnered attention and support from industry leaders, educators, and technology enthusiasts who share his vision for a more accessible and user-friendly approach to data engineering while having a viewership of over 30,00,000+ on a monthly basis. With trained over 55,000+ working professionals so far.
22, Sep 2023
Senco Gold & Diamonds enters Metaverse, redefines jewellery shopping experience with Sencoverse
Kolkata, September 22, 2023: Senco Gold & Diamonds, India’s leading jewellery retailer with a legacy of over five decades, has taken a major step forward in the fast-evolving digital landscape by launching its first virtual showroom, ‘Sencoverse’ on the metaverse. It is India’s first virtual jewellery showroom on metaverse aimed at connecting with the new age customers to redefine their shopping by providing them a more customized and seamless experience.
Sencoverse, the digital platform from Eastern India’s largest jewellery retailer, is a convergence of technology and artistry to bring the brand’s exquisite jewellery to life in the virtual realm. The initiative offers an end to end shopping experience to customers, from hassle-free browsing of the virtual showroom to selection of items to receiving the chosen pieces at their doorsteps.
Customers can access ‘Sencoverse’ from the comfort of their digital devices from anywhere by simply visiting https://www.sencoverse.com/ and entering some basic information.
Expressing his delight at the launch of this new initiative, Mr. Suvankar Sen, MD & CEO of Senco Gold & Diamonds, said, ‘The launch of Sencoverse marks a significant leap in our digital transformation journey and our commitment to offer exceptional and hassle-free shopping experiences to our valued customers. We believe that the digitally savvy millennials and Gen Z shoppers are the future of retail, and we want to be at the forefront of providing them with the personalized and convenient shopping experiences they want and need. With Sencoverse, we are confident that they will embrace this innovative way of shopping. This initiative is not only a testament to our commitment to innovation, but also a strategic move into the future of retail.’
Sencoverse offers an immersive, interactive, and gamified shopping experience. It allows customers to explore a meticulously designed virtual showroom, currently featuring a diverse collection of over 100 exquisite jewellery products. The showroom provides 360-degree views of jewellery items in stunning 3D detail, along with interactive features for zooming in on details and learning more about the products, enabling customers to experience the elegance of these finely crafted pieces in a whole new dimension. The showroom also has an integrated Try On feature, allowing customers to virtually try on jewellery items using augmented reality technology and visualize how each piece complements their appearance.
Commenting on this, Mrs. Joita Sen, Director and Head of Design & Marketing, Senco Gold & Diamonds, stated, ‘We are excited to announce the launch of Sencoverse, India’s first virtual jewellery showroom on the metaverse. This is a major milestone in our journey to offer innovative services to our customers. Senco Gold & Diamonds is one of India’s most trusted brands, known for its craftsmanship and quality. We are proud to continue this tradition in the digital realm with Sencoverse. It currently showcases 100 of our exquisite products from the Everlite Collection and others, and we plan to expand our product range in a phased manner. On this special moment, we invite our customers to explore Sencoverse and experience the beauty of our jewellery in an entirely new way.’
As an engaging addition to the virtual shopping platform, Senco Gold & Diamonds has also announced a launch of a treasure hunt game within the platform. There are four missing jewellery pieces hidden throughout the Sencoverse. Users who can locate all four pieces will be rewarded with 500 Reward Points. These points can be redeemed at any Senco store for exciting discounts and offers.
22, Sep 2023
Tenable Named a Leader in Vulnerability Risk Management by Independent Research Firm
Bangalore, India (September 22, 2023) — Tenable®, the Exposure Management company, today announced that independent research firm Forrester has named the company a Leader in its report, “The Forrester Wave™: Vulnerability Risk Management, Q3 2023.”
The report, which categorizes vendors as Leaders, Strong Performers, Contenders and Challengers, evaluated vendors’ vulnerability risk management (VRM) capabilities based on 28 different criteria. Tenable is top ranked among 11 vendors in the Strategy and Current Offering categories, and among the highest in the Market Presence category. Tenable received the highest possible score (5.0) across 14 different criteria, including Vision, Roadmap and Innovation.
Within the current offering category, the Tenable One Exposure Management Platform, received the highest possible scores (5.0) in the criteria of:
● Asset Types to include valuable information regarding assets for several types of remediation teams across a typical enterprise
● Exposure Types that support the widest array of non-CVE related exposures which incorporate the same prioritization formulas, remediation workflows and analyst experience
● Exploitability with demonstrated superior data models that provides thought leadership for calculating likely activity on yet to be exploited vulnerabilities
● Attack Path Modeling that natively conducts nonintrusive attack simulations to measure the likelihood of threat actors bypassing defenses, and
● Out of the Box Reporting that provides a remarkable breadth of information without customization or tags for many levels of decision-makers on what to do now and what to do next
“Tenable sets the tone for proactive security,” according to Forrester’s report. “Today’s goal remains the same with a vision of proactively securing growing and dynamic attack surfaces with its Tenable One platform, one of the first to embrace the exposure management categorization. Tenable’s name recognition and early-to-market platform approach of consolidating preventative events supports its superior, persistent vision, which aligns well with the current direction of the market.”
As companies embrace new technologies, the attack surface has expanded beyond traditional IT, making it challenging for organizations to quantify and act on their exposure to risk. The Tenable One Exposure Management Platform enables organizations to gain comprehensive visibility into their entire attack surface – from IT and OT infrastructure, to web apps, public cloud and identity systems. It enables customers to anticipate threats, disrupt attack paths, prioritize remediation efforts and communicate cyber risk to make better decisions.
“We built Tenable One to change the way organizations approach risk,” said Mark Thurmond, chief operating officer, Tenable. “Siloed, disjointed security programs are ineffective at building cyber resilience and lack the context needed to help organizations act efficiently. Our platform approach to exposure management flips this notion on its head. Tenable One provides organizations with comprehensive visibility, rich exposure data and context-driven risk analytics to reduce risk specific to their environments.”
22, Sep 2023
LDF, India’s first expo bringing livestock, dairy and fisheries ecosystems under one roof kicked off
Hyderabad, September 22, 2023……. India’s all-in-one and Industry-focused Livestock, Dairy and Fisheries Trade Exposition and knowledge Conclave “LDF India” began at Hitex on Thursday. LDF stands for Livestock, Dairy and Fisheries. The three-day expo which concludes on Sunday features 80 stalls highlights the significant benefits, and showcases the strengths and export potential of the sector.
It is jointly hosted by Hitex and Aqua Farming Technologies and Solutions (AFTS).
It was formally inaugurated by Dr Tarun Shridhar, Former Union Secretary—AHD, Govt of India and Member, Central Administrative Tribunal, Dr L. Narasimha Murthy, ARS, Chief Executive I/c & Senior Executive Director, National Fisheries Development Board (NFDB); Susheela Chintala, Chief General Manager, NABARD, Telangana; D. Chandra Sekhar, IEDS, Additional Development Commissioner; Sri WVR Reddy, IAS and Mr. Venu Dantuluri -AFTS.
Addressing the gathering Dr Tarun Shridhar said livestock never got its due credit. It has always been a subset of Agriculture. India lives in villages. You won’t find a farmer without having a connection to livestock. Livestock is somehow relegated to a secondary role. However, India has a significant livestock population, is a major global fish producer, and leads in global milk production and consumption. A dedicated expo on LDF is the need of the hour and I hope that it will soon graduate on par with Boston SeaFoods at the global level.
India is the Data Capital of the world. Technology has been disrupting. Technology in Animal Husbandry is no exception. However, the livestock industry is overlooked and under-serviced, although it is the most vital and provides much-needed renewable natural resources that we rely on daily. So why is the process of adopting technology so slow within this industry? he asked. Expos like this not only showcase our strengths but also wake up our policyholders Dr Tarun Shridhar said.
The livestock sector is a fast-growing sector of our economy. It records 8.5% growth, which is higher than the manufacturing and services sector, he added. Dr L. Narasimha Murthy, Chief Executive of the National Fisheries Development Board (NFDB), an autonomous organization under the administrative control of the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India said the livestock sector thrived even during covid and recorded 8 to 9% growth. Speaking about the Pradhan Mantri Matsya Sampada Yojana (PMMSY), he said it is an initiative launched by the Government of India to establish a comprehensive framework and reduce infrastructural gaps in the fisheries sector. It has generated 47.19 lakh employment opportunities. It has achieved 174 lakh tonnes of record fish production in 2022-23. It achieved Rs 63,960 crores of seafood exports. 33.86 lakh fisheries are covered annually under the Ground Accident Insurance Scheme. Further, he said that India is the second largest Aquaculture Producer in the World and about 68% of India’s fish come from the aquaculture sector.
Cattle are power. Livestock has always been an integral part of Agriculture. But it is no longer seen as attractive, though it has very good potential. But good days have come back as the whole world is talking about natural, organic and regenerative farming. The livestock sector now is seen as a very big sector with great potential just as food security but as nutrition security. Livestock products assume greater importance in light of India’s 107 positions out of 121 in the World Hunger Index. With more than 70% of the meat-consuming population, India needs to gear up to meet the projected demand of 18.1 MT and per capita meat consumption of 13.8 kg in 2050, said Suseela Chintala, Chief General Manager, NABARD.
D. Chandra Sekhar, Additional Development Commissioner, Ministry of Micro, Small and Medium Enterprises, Govt of India said the Ministry has enabled 46(23 local and 23 non-local) Micro and Small entrepreneurs to participate in India. WVR Reddy, a retired bureaucrat and a subject expert said we all are connected to livestock from our early childhood. But our youth are no longer interested in it. We must make this sector a blue-collar-like sector so that we can attract youth. To make it attractive. you need to bring technology and innovation.
Dalit Bandhu beneficiaries also plan to visit the expo to explore opportunities.
Godavari Cuts displayed 25 kg of YellowFin Tuna, a rare variety of fish. Yellowfin can live up to six or seven years. They are highly migratory and are found throughout the Pacific, Atlantic and Indian Oceans. Yellowfish tuna is endangered. The species also ranks among the largest tuna species globally. The expo has many stalls such as Country Chicken, which was founded by two young entrepreneurs Saikesh Gound and Mohd Sami Uddin, who talk about the world’s first odorless meat store. Many stress the need for modern meat stores, meat stores which are hygienic. Post-COVID hygiene has been a major concern for everybody. Though we have good, Hygienic shops for vegetables, not many hygienic meat shops are found. People are scared of buying meat from untrusted shops. They are scared to buy frozen fish. They are scared to buy chicken from untidy places. Women go out to buy vegetables, but meat is bought by men. Why is this? Asked many. Now things are changing and meat shops have become more hygienic.
21, Sep 2023
NMIMS Bengaluru organises Walkathon to create Mental Health Awareness
Bengaluru, 21st September 2023: In its persevering commitment towards fostering mental health awareness, Udyam, the Corporate Social Responsibility Committee of SVKM’s NMIMS Bengaluru, recently organised a Walkathon. The theme of the walkathon was ‘Walk for a Cause: Mental Health Awareness’ for its School of Business Management (SBM) students.
The Walkathon began with students assembling at the Royal Meenakshi Mall. The journey concluded at Windsor Amulyam. The 5 Km journey was replete with students expressing themselves through slogans and banners demonstrating the central theme of the event. The enthusiasm and energy levels among the participants were a sight to behold. More than 150 students participated in the walkathon, making it a success.
In order to create awareness about mental health amongst the general public, an inspirational ‘Nukkad Natak’ or a street play was performed following the walk. The performance was divided into three segments. Each of the three acts covered distinct topics with the focus of making people realise the positive results of sound mental health. It was demonstrated by recreating real-life scenarios faced by the youth. The performance concluded with the message of dealing with the hard times and emerging victorious.
Professor Janaki Anant, the faculty mentor at Udyam, was the guiding light of the students throughout the event. She created a safe space for students and asked them to share their own stories of battling mental health. Each story provided deep insights into the tough times faced by students and how they embraced reality and emerged out of it successfully. The exercise reassured students that they were not alone in their MBA journey at NMIMS SBM.
The walkathon resulted in three key learnings. Firstly, how the internal and external pressures we build within us sow seeds of mental distress and the unwanted steps we end up taking regarding our lives. Secondly, how failure leads to self-doubt, pain and anguish. This further contributes to unhealthy behavioural patterns and lifestyles. Lastly, seeking the right help and support can actually help us to release and overcome the burden of the unaddressed trauma within.
The success of the walkathon was a result of Udyam’s commitment towards increasing
public awareness about mental health. The committee is aimed at contributing
to making the world more liveable and equitable. It is also a testament to the changing times and the NMIMS’ commitment towards creating healthier campuses.
Commending the success of the event, Dr. Narayani Ramachandran, Deputy Director, NMIMS Bengaluru, said, “The success of the walkathon on mental awareness exemplifies the positive change we’re witnessing, which calls for an environment conducive for growth and happiness. The event reflects NMIMS Bengaluru’s commitment to shaping a better society, where we shun the stigma around health issues. Rather, we must together create a place where mental wellbeing is prioritised and positivity is encouraged.”
Ms. Gitanjana, the Counsellor at NMIMS Bengaluru, infused a sense of optimism and positive energy through her words. Stressing the importance of seeking help and overcoming hardships when the going gets tough, she shared, “In the face of adversity, it is important to embrace the strength in seeking help and supporting one another. Let’s aim to foster a community where seeking therapy is seen as a courageous step towards personal growth.”
21, Sep 2023
Incubate Fund Asia Announces First Close of Third Fund
India, 21 September 2023 – Incubate Fund Asia, a sector-agnostic Japanese venture capital fund specialising in seed-stage investment today announced the first close of their third fund which has a target corpus of $50 Million (around INR 416 crores). This accomplishment underscores their steadfast commitment to fostering the growth of startups and propelling them towards remarkable success. Incubate Fund’s India-focused entity has now been rebranded as Incubate Fund Asia, to expand focus on supporting pre-seed and seed-stage startups in India and South East Asia (SEA). The proceeds of the fund will be used to make early-stage investments and also for follow-on investments in startups that have shown strong fundamental growth. The fund aims to build a portfolio of around 20 startups with the third fund. The fund will invest only 40 percent of its total investible corpus to create the portfolio and then use the balance to back the ‘winners’ in its portfolio.
Incubate Fund has firmly established itself within India’s dynamic startup investment landscape and since 2016, the fund has taken on a prominent role as a lead investor by setting up a dedicated fund for Indian startups. With a global presence, Incubate Fund Group maintains offices in key locations, including Tokyo, Singapore, Bangalore, Mumbai, São Paulo, and Mountain View. Some notable portfolio investments include Captain Fresh, Yulu, ShopKirana, Plum etc. Incubate Fund Asia has played a pivotal role in nurturing these startups, expertly guiding them towards achieving market leadership positions within India.
In a strategic and forward-thinking move, Incubate Fund India has undergone a significant transformation, emerging as Incubate Fund Asia. This rebranding initiative signifies a deliberate alignment of the organization’s brand identity with its broader vision and extensive outreach within the Asian startup ecosystem. Positions itself to better encompass its regional ambitions and emphasize its commitment to fostering innovation and entrepreneurial endeavours throughout the Asian continent. Incubate Fund Asia was founded and has been led by Mr Nao Murakami, Founder and General Partner of the fund, with support from Incubate Fund’s Japan team.
Nao Murakami, Founder and General Partner of Incubate Fund Asia, expressed his enthusiasm about the fund’s focused objectives. “Our mission is to empower startups and fuel innovation across Asia. With the target fund closure of $50 million, we will be ready to significantly enhance our support to emerging ventures, driving sustainable growth and innovation. Incubate Fund Asia remains deeply committed to its vision of nurturing innovation and catalyzing the growth of startups, ultimately contributing to the development of a thriving entrepreneurial ecosystem across Asia.”
Sumit Ghorawat, Co-Founder of ShopKirana, expressed how Incubate Fund’s support has been pivotal for ShopKirana’s journey. He stated, “Incubate Fund Asia is everything that we look for in an investor and is definitely one of the top folks to have on your cap table and board. I feel proud to say ShopKirana was the first investment of Incubate Fund in India back in 2016, since then we have raised 4 rounds and they continue to back us in each of them. They have stuck with us during highs and lows, always pushing us to do better, giving us complete access to their rolodex and so much more. Over the years I have found the team at Incubate Fund to be one of the best to collaborate with and get perspectives from. Incubate Fund’s team will move mountains for you to help you on your startup journey.”
The fund has provided invaluable support to 27 Indian companies, including notable ventures like ShopKirana, the innovators behind a groundbreaking retail merchandise procurement app, and Captain Fresh, trailblazers in the B2B seafood trading sector. Their investments are broad in scope, encompassing B2B, B2C, Supply Chain, and consumer tech startups operating across both Tier 1 and Tier 2 markets. The contributions made by Incubate Fund Asia are pivotal in advancing business digitization and innovation, consistently investing in the $500K to $1.5 million range. In the year 2019, Incubate Fund launched a USD 18 million Fund II.
