20, Feb 2023
Vijay Deverakonda’s presence adds glamour to volleyball match in Hyderabad
Hyderabad, February 20th, 2023: The Telugu film star Vijay Deverakonda attended the RuPay Prime Volleyball League match between Chennai Blitz and the home team Hyderabad Black Hawks at the Gachibowli Indoor Stadium in Hyderabad on Saturday. The ‘Arjun Reddy’ star, who is a co-owner of the volleyball franchise, spoke on his reasons for association with the Black Hawks’ – and talked about his love for the sport.
“I love volleyball and I love Hyderabad. This league is going to be one of the most-watched leagues in the country. It is going to be a massive source of entertainment. It will have a loyal following. It seemed like a smart business decision. And my love for the city and love for the sport made me do it,” Vijay said.
“What I love about volleyball is it’s super aggressive. It involves smashes, the dives. It’s a very quick-moving game. Every five minutes there are turns and changes. In school, we all really idolised the attackers. It’s a really cool game to follow and one of the biggest sports to follow in the world,” he added.
Predicting the future of the league, Vijay said: “RuPay Prime Volleyball League is going to be one of the biggest leagues of volleyball across the world in terms of audience and in terms of players.”
The RuPay Prime Volleyball League powered by A23 will be telecast LIVE on Sony Sports Ten 1 (English), Sony Sports Ten 3 (Hindi), Sony Sports Ten 4 (Tamil & Telugu) & Sony Sports Ten 2 (Malayalam) channels in India and will be streamed on Volleyball World TV outside the Indian subcontinent, starting February 4, Saturday.
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- By Rabindra
20, Feb 2023
Hyderabad go down fighting against Jamshedpur
Hyderabad: In spite of a valiant effort by everyone present at the Maidaan, Hyderabad FC fell to a grueling 2-3 defeat against Jamshedpur FC in an entertaining Indian Super League clash at the GMC Balayogi Athletic Stadium in Hyderabad earlier today.
Bartholomew Ogbeche (12’, 79’) scored a brace while Joao Victor missed a penalty for Hyderabad. Ritwik Das (22’), Jay Emmanuel Thomas (27,p) and Daniel Chukwu (29’) scored in the space of 10 minutes to take a lead that HFC failed to catch in the end.
Manolo Marquez rang in the changes, naming a debutant in goal in Lalbiakhlua Jongte and an all-Indian backline. But his side started the game in fine fashion, also taking the lead through a Bart Ogbeche header from a Borja Herrera corner.
But Ritwik Das’ header and a penalty decision for Jamshedpur in the space of five minutes changed the game. The referee was aided by the linesman in the other half as he decided to consult the fourth official before awarding the visitors a spot kick, in a decision that was questioned by the HFC Head Coach.
Jay Thomas finished off in style before Chukwu beat Nim Dorjee Tamang and dinked one over Biaka to give Jamshedpur a two goal lead.
The second half rang into life after Eli Sabia was sent off for pulling Javi Siverio down as the last man. This allowed Hyderabad to push for a goal and they almost found it when Abdul Rabeeh’s cross was handled inside the box and Hyderabad were awarded a penalty.
However, Joao Victor, who came off the bench for his first outing in over a month, failed to beat Vishal Yadav from the spot. Hyderabad did find a goal through Ogbeche’s strike late in the game, and could have taken all three points with a late goal.
Javi Siverio got a chance just before the final whistle, but his header was straight at the keeper as Hyderabad failed to take their chances and fell to a narrow defeat.
This win keeps Hyderabad on 39 points from 19 games, as they now gear up for the final league clash against the Kerala Blasters at the Jawaharlal Nehru Stadium in Kochi on Sunday, February 26.
20, Feb 2023
Odisha Launches India’s first AI-Chatbot Ama KrushAI at Krushi Odisha 2023
Bhubaneswar, 20th February 2023: Governor of Odisha Prof. Ganeshi Lal today said that civilization started off with agriculture, and the super-structure of civilization is based on agriculture. Addressing the valedictory session of ‘Krushi Odisha 2023’, organized by the Department of Agriculture & Farmers’ Empowerment, Govt of Odisha, jointly with the Federation of Indian Chamber of Commerce and Industry (FICCI), Prof. Lal urged the farmers to benefit from all schemes announced by the state government and help the state to go further and prosper in the area of agriculture
Citing, “ Only a farmer can do the magic in agriculture,” Odisha Governor stressed the need for coordinated efforts from all the stakeholders to help the farming community tide over the challenges they have been facing. Praising the KALIA scheme, Prof Lal added that the scheme has proved to be a game changer for the income security of farmers.
On the session, Mr. Ranendra Pratap Swain, Minister of Agriculture & Farmers’ Empowerment
and Fisheries & ARD said that Agriculture is the only sector that was not at a halt during the pandemic times. He asserted, “Odisha is now self-sufficient in many crops. The state is 4 th largest rice producer of the country. We are near self-sufficient in milk, egg, and fisheries.”
“Our sincere effort will become helpful to bring down the cost of farming. To achieve this goal, we need farm mechanization,” added Mr. Swain while urging the farmers to use new machines and technology in farming.
Ms. Basanti Hembram, Minister, of Women & Child Development and Mission Shakti, Odisha said that “Agriculture is a livelihood for seventy percent of the population. Government is giving primary importance to agriculture and the development of farmers. She said that our other focus areas are Kalia, Balaram scheme, nutritional foods, and commercialization of agriculture.”
Dr. Arabinda Kumar Padhee, Principal Secretary, Department of Agriculture & Farmers’ Empowerment said government focuses on farm mechanization, crop diversification, development of the allied sector, and entrepreneurship development.”
Mr. Suresh Kumar Vashishth, Principal Secretary, F & ARD Department said, “We have achieved significant development in animal resources and milk production. We have developed technology and showcased on cage culture, Tilapia fish and bio-floc.”
Mr. T R Kesavan, Chairman, FICCI National Agriculture Committee & Group President, TAFE
Ltd emphasized input cost reduction in farming to make it water use effective. He elaborated on various aspects of water efficiency in farming so that technology-based agriculture
can be sustainable.”
Mr. Smruti Ranjan Pradhan, Director of Fisheries delivered a welcome address.
Mr. Prem Chandra Chaudhary, Director, Agriculture and Dr. Yeddula Vijay, Director of AH & VS,
Mr. Rama Chandra Panda, Advisor to Dept. A & FE, Odisha were also present at the dais. During the session, the Governor also launched India’s first AI Chatbot for the agriculture sector –
Ama KrushAI, which will run under the pilot project with above 10,000 farmers and will be implemented in full fledge in the next two months. Ama KrushAI chatbot will help farmers with the best agronomic practices, government schemes, and loan products from more than 40 commercial and cooperative banks.
Organized with an aim to promote farm mechanization and enhancement in farmers’ income, the 3days Krushi Odisha -2023 witnessed the attendance of more than twenty thousand farmers and agri-entrepreneurs from across the state and focused on emerging technologies in agriculture this year.
20, Feb 2023
GfK Leads Data-Driven Dialogues at the Global Business Summit 2023
Mumbai / New Delhi, 20th February 2023: The 18th of February marked the end of a 2-day Global Business Summit 2023 that captured insights from leading industry stalwarts. To deliberate on the importance of data for marketers, GfK hosted a panel discussion that was focused on the role of data insights in a rapidly changing environment to stay ahead of trends that can change on a dime as customers adopt.
The session saw participation from business leaders such as Nikhil Mathur (MD, India, Head of Data Partnership and Innovation, APAC, GfK; Daniel Mazon, Vice Chairman and MD, Philips India); Vishal Gondal (CEO, GoQii); Satish N.S. (President, Haier India); Arvind Gupta (Co-founder, Digital India Foundation); and Preeti Bajaj (CEO, Luminous Power Technologies).
They deliberated how companies can manage and use a huge data deluge by keeping technology at the epicenter of every innovation. It also pondered the importance of artificial intelligence and machine learning in extracting value from pre-existing online data in this new world of quantum computing.
Sharing his views in the session, Nikhil Mathur, MD, GfK India, “The Speed of change is multiplying and will continue to have the momentum. The most challenging aspect for business leaders is to target attention-deficit consumers. It is crucial for organizations to make strategic investments in building data capabilities, shift in mindset, and the ways in which companies use data, analytics, and AI.”
He also added, “The focus for us today is on how our actions require data to move forward. The global environment, the industrial revolution, and the blurry boundary line between the physical and cyber worlds are three lenses through which to view the entire concept of this new world. So, it is important that organizations really make a framework of innovation and disruption and look at those things that can take the organization forward.”
Most of the panelists agreed upon the role of data in growing businesses and bringing innovation by keeping in mind the needs of their customers starting from scratch.
20, Feb 2023
IILM organises 10th PRME International Conference focusing on “Creating Synergy for Sustainable and Resilient World”
20th February 2023, Greater Noida: IILM Group of Institutions organized its 10th PRME International Conference on “Creating Synergy for Sustainable and Resilient World” on the 16th and 17th of February, 2023 at the IILM University Greater Noida. The two-day PRME Conference aimed at creating a platform for a dialogue to initiate positive and enduring changes in alignment with the SDGs to propel a new era of inclusive growth for future generations. On the first day, there was the first plenary session and a session on Inspiring sustainability by the NGOs and 3 research track presentations.
The second day comprised of the second plenary session, one research track presentation and the valedictory session. Panellists from the industry, academia, researchers and students participated in the conference. The chief guest Prof (Dr.) Ravindra Kumar Sinha, Vice Chancellor, Gautam Buddha University, Guest of Honor Mr. Hitesh Kataria, AVP, KPMG, the keynote speakers Dr. Anjan Ray, Director, CSIR – Indian Institute of Petroleum at Council of Scientific and Industrial Research, Mr. Sanjay Sethi, Executive Director, Plant Based Food Industry Association graced the inaugural function with their kind presence. Prof. Taruna Gautam, Vice Chancellor IILM University Greater Noida and Prof. Shyamali Satpathy, the convener were present in the inaugural session.
In the first plenary session on the theme “Reimagining the future for Sustainable Development: The ESG Framework for Green Economy distinguished speakers were Dr. Ritu Dhingra, Regional Vice Chair, International Union for Conservation of Nature(IUCN) CEESP, Wing Commander Amarjeet Singh Bindra, Consultant & Advisor-Smart Cities Sustainability Organic Farming, Ms. Priti Srivastava, Mentor, Advocacy, Reliance Industries Limited and Mr. Gaurav Sarup, Director – ESG, Carbon & Social Performance, Vedanta.
An interesting and inspiring plenary session on “Driving Sustainability and Responsible Leadership” was led by a panel of industry leaders such as Ms. Anu Mehta, Deputy General Manager and Head CSR, Honda Cars India Ltd, Ms. Jasmine Saini, Head Divisional Business Synergy, ITC and Mr. Satyakki Bhattacharjee, Managing Partner, GrowthSqapes.
Scientific sessions in four different tracks were carried out in which more than 60 research papers were presented by senior academics, researchers, industry participants and students. Management track- 1 theme was ‘Work, Skills & Employability: The Drivers of an Inclusive and Sustainable Future’. The theme of Psychology, track-2 was ‘Psychology, Resilience, and Mental health: Pathway from Illness to Wellness’. The track 3-Legal had contributions on the theme of ‘Environmental Transitions I: Emerging Issues and Policy Approaches’. ‘Role of digital disruption and biotechnology in creating a sustainable world was the theme of Track 4 and 5. The valedictory address was given by the Guest of Honor Mr. Uday Shanker, Co-Founder at Chlorohemp Agrotech and the Chief Guest Mr. Pushpendra Johari, Senior VP at RMSI. Concluding remarks were delivered by Prof M Afzal Wani, Pro Vice-Chancellor & Dean, IILM School of Law, Greater Noida.
In addition to that, there was a session on Inspiring sustainability with participation of representatives by 6 different NGOs. There was also a sustainability exhibition aimed at raising the awareness of sustainability and environment change. Students of IILM University, Greater Noida presented their working and non-working models in the exhibition panels.
IIM PRME conference agenda covered a wide range of horizons related to the synergetic approach in achieving a sustainable and resilient World.
20, Feb 2023
KIIT students selected to witness the Pico satellite launch
Gurgaon: Eleventh standard student of KIIT World School named Payal and First-year B.tech (CSE) student Sakshi from KIIT College of Engineering has been selected to witness the Pico Satellite Launch under Dr. APJ Abdul Kalam Satellite Launch Vehicle Mission 2023. The satellite launch will take place on 19th February 2023 at Pattipulam village in the Kancheepuram district of Tamil Nadu, India. This is happening for the first time in the world when 150 pico satellites will be launched simultaneously.
Dr. APJ Abdul Kalam International Foundation in collaboration with Martin Foundation and Space zone India started “Dr. APJ Abdul Kalam satellite launch vehicle mission 2023”. Under this mission, more than 5000 students from Grades VI to XII across India have been given the opportunity to design and create 150 PICO satellites, which will be launched using a sounding rocket. The chosen students have received virtual instruction in satellite technology, followed by practical learning activities that will allow them to better understand the project’s subject.
Speaking on this, Neelima Kamrah, Principal of KIIT World School, said, “It is a matter of pride for our school to be part of the Pico satellite launch. This mission has given students the chance to enhance their knowledge about science, technology, engineering, and mathematics”. Further, she told that these student-built satellites will be used to collect data to learn more about the distribution of gases in the atmosphere, such as oxygen and ozone.
20, Feb 2023
Coimbatore’s Western Ring Road on track for commencement, foresees massive infrastructural development in its vicinity
It will not be longer before commuters from Coimbatore will have an easier route to travel to the outskirts of the city, avoiding the hustle and bustle of the city’s busy traffic. The commencement of the Coimbatore Western Outer Ring Road which has been in talks for the past few years is just a few months away from being fully operational. The Government has already proposed releasing the tender, post which the works will soon be scheduled to be completed within mere months.
The works will see the development of the 32.4 km, a four-lane road connecting Madukkarai on the Coimbatore-Palakkad Road to Narasimmanaickenpalayam on the Mettupalayam Road, which is anticipated to reduce traffic congestion on city roads by almost 40%, mainly for motorists who will take the route to travel to Mettupalayam, Nilgiris, and Mysuru. The proposed road expansion project will cover localities which will include Madukkarai, Sundakamuthur, Perur, Chettipalayam, Theethipalayam, Madhampatti, Chellappa Palayam, Siruvani Road to Kanuvai and Anaikatti Road to Narasimhanaikenpalayam in three phases. This initiative by the government to upgrade and extend road connectivity across the state however has an unnoticed side of the picture, which is the infrastructural development on the Ring Road and its vicinity following being operative. The location has always been a desired target spot for upscale real estate and social development ever since its initial proposal.
The recent update on the progress of the Western Ring Road is anticipated to naturally increase the momentum of land acquisition by real estate developers as its vicinities are already witnessing large land parcels being sold for commercial and residential purposes where high-end civil amenities like schools, hospitals, entertainment avenues like malls, cinema theatres, and gated residential communities are proposed to operate in the coming years. Another significant highlight of the Outer Ring Road is that it will have good connectivity with the Coimbatore (L&T) Bypass Road, an emerging hotspot for major infrastructural development which is in proximity with the upcoming Rs. 1,132 crores Coimbatore airport expansion project, Rs. 225 crores proposed defense corridor project, and the Rs. 168 crores Vellalore integrated bus terminus, which will be the largest integrated bus stand.
Ring Roads around the nation:
This is nevertheless not a distinctive case, Ring Roads around the nation have been always been instrumental in instituting massive infrastructural development, as they have witnessed the establishment of large-scale IT parks, schools, restaurants, and even healthcare facilities on its belt due to the availability of vast empty spaces in its vicinity. A major example of this is the development around the 158 km Jawaharlal Nehru Outer Ring Road in Hyderabad which is the largest ring road in the nation. The progress along Hyderabad’s Outer Ring Road (ORR) has already initiated numerous proposed large-scale townships, logistics hubs, and IT corridors. It has directly propelled the city’s transformation into a global hub with scope for more future development.
Similarly, the garden city’s 60 km ongoing massive Bangalore Peripheral Ring Road project apart from the traffic de-congestion foresees massive ultramodern real-estate development such as the establishment of high-rise buildings, future metro network, EV charging point stations and helipads for air-ambulance in the upcoming years. Its Neighboring city, Mysore’s 42.5-kilometer peripheral ring road is also seeing a revival in its market value as it is being instrumental in urbanizing nearly 40 villages on the outskirts of the city, especially with the Karnataka State Cricket Association’s (KSCA) planning to construct an International Cricket Stadium along the vicinity of the road. Up north, Delhi consists of one of the most prominent ring roads of the country, an 87 km combined main and outer ring road, which is also considered an emerging spot for infrastructural development as the government has already allotted around 15 acres of prime land along the Ring Road for commercial development which will include proposals for major malls and luxury hotels to be constructed.
Down south, Chennai holds its own ground in this discussion as it has seen colossal real-estate and commercial development around its Outer Ring Road belt. Even in its recent overhaul of development, the government has announced allocating 550 acres of land along the 62-km Chennai Outer Ring Road (State Highway 234) within which around 87 large-scale commercial development projects have been proposed. The ring road connects NH45 at Vandalur, NH4 at Nazarathpet, NH 205 at Nemilichery, NH5 at Nallur, and TPP road at Minjur will consist of projects which include a CMDA regional office, a hockey turf, an indoor stadium, a river-front park, musical fountain, and an urban park among others.
Development around Coimbatore Western Ring Road Vicinage:
The growth of ring roads around the nation clearly indicates that the Coimbatore Western Outer Ring Road is going to see a splurt of real estate development once it is up and running, which is not very far away. The development of this project post-completion is expected to thrust Coimbatore into being an emerging global destination. The city has already established numerous IT and software hubs which include TIDEL Park, Tata Consultancy Services, Cognizant Technology Solutions, Robert Bosch, DELL, KGISL, and CSS Corp Pvt Ltd with many more organizations coming up. These improvements are currently drawing in thousands of people to migrate into the city. Plots are currently selling like never before. Regions that will benefit from the progress of the road expansion are expected to skyrocket triple fold of its current investment especially places like Kovaipudur(also known as Little Ooty), which are capable of sustaining residential, commercial, and industrial establishments, making it the perfect spot to cater to the upcoming future Coimbatore. Buyers are already investing in lands here as the region already has numerous amenities which include schools, colleges, supermarkets, commercial offices, restaurants, and residential communities. With the initial phases of road expansion on track to commence, it will be of no surprise when all the development comes into place and merges with existing amenities, the land appreciation rate and real estate value of the land will be sky-high.
20, Feb 2023
Land and get pampered: EaseMyTrip offers Levo Spa Salon vouchers to customers who land at Delhi, Goa and Pune
Mumbai, February 20, 2023: EaseMyTrip.com, one of India’s largest online travel tech platforms and one of India’s preferred travel partners, brings out a chance for their customers landing in Goa, Pune & Delhi by booking flight tickets from the company to get their hands on an incredibly enticing experience at the Levo Spalon with ravishing rebates on beauty services with validated vouchers. By using the voucher, customers will be granted a dashing discount of INR 1000.
For travelers landing in Goa can indulge themselves with a touch of beauty and style at the Away Spa and Levo Salon, situated at the W, Goa on Vagator Chapora Road. For travelers visiting Delhi, the vouchers can be redeemed at the Levo Spalon in Pegasus One, Golf Course Road, Sector-53, Gurugram. Similarly, travelers landing in Pune can get themselves groomed by the experts at the Heavenly Spa and Levo Salon at The Westin, Pune, Koregaon Park
Levo Spalon believes in the combined power of luxury and expertise to deliver an unsurpassed experience. Crafting indulgent moments of self-care and wellness remains at the heart of their services. The salon stocks some of the finest luxury wellness products from brands such as Kerastase, Skeyndor, Olaplex, and L’oreal, among others.
Speaking about the offer, Mr. Rikant Pittie, Co-Founder, EaseMyTrip, said, “This offer will enable all our customers to have a rejuvenating experience while they are traveling with us. Most people prefer to indulge in recreational activities while they are on vacation and we are excited to bring a one-of-a-kind experience to them.’’
Ms. Pranita Baveja, CEO and Co-Founder, of Levo Spalon, said, “It is known that traveling can be taxing and to provide customers with the highest form of care-our new offer delivers a luxurious experience full of rejuvenation and relaxation. I am honored to have this wonderful association’’
20, Feb 2023
Union Budget 2023: An enabler for India’s banking sector
By Mr. Amar Deo Singh, Head Advisory, Angel One Ltd
The banking sector in India has been a crucial component in the country’s economic growth, providing financial services and support to individuals, businesses and the government. Indian banks have been resilient and withstood the strong headwinds that significantly impacted other economies in the last few months. However, the current ecosystem of the banking industry is marked by several challenges, such as asset quality, digital transformation and ensuring financial inclusion. The Union Budget 2023 has addressed these concerns through various measures aimed at boosting the banking sector and improving the overall financial landscape of the country.
Strengthening the financial ecosystem
The budget for this year signalled the government’s intention to maintain stability while fostering balanced economic expansion. The suggested policy reforms and greater capital infusion will stimulate MSMEs and the startup ecosystem. One of the major highlights was revamped credit guarantee scheme. The inflow of INR 9,000 crores into the corpus of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) will give MSMEs more access to collateral-free loans. This new scheme will also enable two lakh crores of new collateral-free guaranteed financing. It would increase the growth of MSMEs in India while enhancing their international competitiveness.
Furthermore, credit costs are to be reduced by about 1%. It will aid the asset quality of small business loans for public sector banks.
Greater focus on governance and investor protection
Financial regulators in India have contributed to developing one of the world’s most robust banking and financial systems. According to the Union Budget 2023, a national financial information registry would be established to act as the central repository for financial and ancillary data. This will enhance the efficient flow of credit, increase financial inclusion, and support financial stability. In addition, authorities of the financial sector regulators will be required to conduct a full assessment of existing legislation to cut costs and simplify compliance.
Simultaneously, the proposed revisions to the Banking Regulation Act, the Banking Companies Act, and the Reserve Bank of India Act aim to improve bank governance and enhance investor protection. In addition to strengthening the internal mechanisms and operations of fintech and data-driven credit disbursement companies, this initiative will aid banking authorities in promoting financial inclusion and fostering better credit facilities. This, in turn, may lessen the compliance burden and improve the ease of doing business in India.
Benefits for Senior Citizens
The budget also introduced changes to the Senior Citizen Savings Scheme (SCSS), where the maximum deposit limit is increased from INR 15 lakh to INR 30 lakh. Also, the rise in the maximum limit in the Monthly Income Account Scheme from INR 4.5 lakh to INR 9 lakh for a single account and from INR 29 lakh to INR 15 lakh for a joint account is a positive move. It will enable senior citizens to contribute larger amounts to SCSS, making it a better investment choice than FDs and accounts.
Conclusion
With ongoing technological advancements, the banking sector is putting a larger emphasis on offering better services to customers and enhancing its digital infrastructure to improve the overall customer experience. This gives banks a competitive advantage. The Union Budget’s focus on improving the credit scheme for equipping MSMEs with access to financing and continuing the reforms in terms of investor protection will provide further impetus to growth in the banking sector. As more growing businesses turn to banks for financing, these propositions indicate that India’s banking sector is poised for robust growth.
19, Feb 2023
Emergency Response Provider Medulance Wins Rs 2 Cr Deal on Shark Tank India Season 2 at Valuation of Rs 100 Cr
Mumbai, 19th February 2023: India’s first Integrated Emergency Response Provider Medulance created history on television when it was offered a whopping Rs 5 crore for 5% equity on the Shark Tank India Season 2 that aired on Sony Entertainment Television on Friday, February 17, 2023. This was only the second time in the history of the show that such a huge amount was offered to entrepreneurs by the Sharks.
One of the Sharks, Amit Jain, the Co-Founder and CEO of CarDekho Group, offered the Medulance founders Pranav Bajaj and Ravjot Singh Arora an investment of Rs. 5 Crore in exchange for 5% equity. The duo, however, accepted a counter-offer of Rs 2 crore for 2% equity by the Sharks Namita Thapar (Emcure Pharmaceuticals), Aman Gupta (BoAt), and Peeyush Bansal (Lenskart), at a valuation of Rs 100 crores.
Medulance operates a fleet of 7,500+ ambulances in over 500 cities across India for fast and reliable first-point medical attention. The company generated a revenue of Rs 24 crore last year, with a 24% profit margin, Pranav Bajaj and Ravjot Singh Arora revealed during the show. The remarkable figures led Shark Anupam Mittal (People Group) jokingly question the two young entrepreneurs about the need to participate in the show when they were already doing so well! To this, the Medulance founders quipped that they needed the Sharks’ knowledge of building a business as much as the funding itself. All the Sharks on the show were keen on using their expertise and business acumen to help Medulance grow and become a billion-dollar enterprise, achieving its aim of expanding to all tier-3 cities across India and South-East Asia.
On receiving funding from Shark Tank India, Pranav Bajaj, Co-Founder, of Medulance, said: “We are delighted to receive funding for Shark Tank India Season 2. Over 30% of victims of road accidents and health emergencies in India lose their lives due to delays in receiving first-point medical attention. Rushing the patient to a medical facility in the shortest time possible, the so-called Golden Hour is critical in saving lives. With our fleet of ambulances, we aim to reduce the response time to a medical emergency drastically. We know we are doing something important, so receiving validation of our work from the Sharks means the world to us. We plan to invest the amount to drive more innovation and expand our pan-India footprint.”
Said Ravjot Singh Arora, Co-Founder, of Medulance: “The experience on the show was a roller coaster, but I am glad that the Sharks saw potential in our business which is providing a critical service to the people of India. It was a tough call to decline the fabulous Rs 5 crore offer, one of the highest ever on Shark Tank, and opt for the Rs 2 crore offer instead, but this was based on sound business sense. We now have the resources to help us reach our services to more people and organizations, and further scale our operations to more cities across the country. We look forward to saving even more lives in the years ahead.”
Ravjot Singh Arora narrated to the Sharks the story behind the founding of Medulance in 2017. He said: “The business plan for Medulance was made after suffering a personal loss. My father had to rush to the nearest hospital from our home to fetch an ambulance when my grandfather faced a serious health emergency. Unfortunately, due to delayed first-point medical attention, he couldn’t be saved. This incident hurt me deeply and became the inspiration to start Medulance. Our mission is to make ambulances as accessible in every pin code in India as taxis and food delivery services. We do not want any more lives lost because first-point medical attention was not available on time.”
Recently, Medulance launched a 5G smart connected ambulance in collaboration with Reliance Jio that allows real-time, two-way audio and video communication, ambulance tracking and real-time streaming of patient health data to a distant doctor over the high-speed 5G network, changing the future of emergency health response services in the country.
