Category Archives: Business

Udaan Closes Series G with Dollar114M Raise Led by M&G and Lightspeed

National, June 2, 2025: udaan, India’s leading eB2B platform, today announced the successful closure of its Series G financing round raising USD 114 Million in fresh equity capital. The round was led by M&G Investments and Lightspeed with participation from other existing and new investors, reflecting strong investor conviction in udaan’s long-term opportunity and its progress towards public market listing.

 The fresh capital will be deployed to strengthen udaan’s category and customer footprint, with focus on Fast-Moving Consumer Goods (FMCG) category and Hotel, Restaurant, and Catering (HoReCa) customer segment. udaan will also accelerate its private label brands initiatives in the staples category. This capital raise will also fortify udaan’s balance sheet, providing enhanced financial flexibility as the company advances toward its public market debut.

 As part of its long-term vision, udaan is focused on driving “consistent growth with profitability at scale” by following regional cluster-led operating model reinforcing its commitment to building a sustainable and scalable business.

 Backed by solid business fundamentals, udaan continues to demonstrate strong contribution margin accretive growth, clocking 60%+ Year-on-Year (Y-o-Y) growth in CY 2024, alongside a 300+ basis point improvement in contribution margin. This growth trajectory has continued into CY 2025 with an additional 100+ bps contribution margin improvement year-to-date. Alongside the contribution margin growth and scale operating leverage, udaan also reduced its fixed costs by 20%, leading to a 40% reduction in EBITDA burn in calendar year CY 2024 and an additional 20% reduction year-to-date in CY 2025.

 Vaibhav Gupta, Co-founder and CEO, udaan, said, “Over the last 3 years, we have transformed the business by building cost as a capability and a competitive advantage. We have reduced our EBITDA burn by 40% every year for the last 3 years and are on track to achieve full group EBITDA profitability in the next 18 months.

 udaan’s hybrid model of ‘highly available eCom app + new-gen tech-first sales’ is now established as the benchmark winning model for eB2B, providing an ROI accretive customer wallet growth, and a strong solution for brands and manufacturers to drive product mix.”

 Completion of series G round enables us to continue investing in our customer-tech platform, sales-tech capabilities and deepening our customer value proposition helping us deliver our goal of consistent growth with profitability at scale.”

Errol Musk Visits India to Boost Servotech’s Green Tech Mission

NEW DELHI, INDIA – June 2, 2025 – Mr. Errol Musk, Global Advisor to Servotech Renewable Power System Ltd. And renowned global entrepreneur, has arrived in India today for a pivotal visit focused on accelerating the nation’s green technology and electric vehicle (EV) charging infrastructure development. His six-day itinerary is packed with Servotech’s Manufacturing Plant visit, Ram Mandir visit, high-level engagements, including a key industry forum, and meetings with government officials.

 Mr. Musk’s visit underscores the burgeoning global interest in India’s rapid strides towards sustainable development and its ambition to be a leader in green technology exports.

 “We are incredibly excited to welcome Mr. Errol Musk to India,” said Mr. Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd. “His profound expertise and global vision as our Global Advisor are invaluable as we drive India’s mission to become a powerhouse in green technology and EV charging exports. This visit signifies a major step towards ‘Keeping Bharat Ahead’ on the global stage.”

 During his stay, Mr. Musk will engage with a diverse set of stakeholders:
• June 2, 2025: Mr. Musk will deliver a keynote address at the India–Global Green Tech Vision Forum 2025 at the Taj Palace, New Delhi. This event will bring together policymakers, investors, business leaders, and senior bureaucrats to discuss India’s strategic push for leadership in green technologies.
• June 3, 2025: He will undertake an exclusive visit to Servotech Renewable’s state-of-the-art manufacturing plant in Sonipat, Haryana, to witness firsthand the innovative production of EV chargers, solar solutions, and other sustainable technologies, showcasing the ‘Make in India’ excellence.
• June 4, 2025: Mr. Musk, accompanied by Servotech’s leadership, is scheduled to seek blessings at the sacred Shri Ram Lalla temple in Ayodhya.

 “It is an immense privilege to be in India and witness its vibrant progress in green technology and sustainable development,” stated Mr. Errol Musk. “India’s commitment to a cleaner future and its burgeoning EV ecosystem present incredible opportunities. I am eager to contribute to Servotech’s vision and explore the potential for India to lead the global green revolution.”

Logic School of Management Launches CIAP Program in Collaboration with IAB, UK

KOCHI, 2ND JUNE 2025: Logic School of Management, part of the Veranda Commerce vertical led by Prof. J.K. Shah, has announced the launch of the Certified International Accounting Professional (CIAP) program in partnership with the Institute of Accountants and Bookkeepers (IAB), UK — a globally respected body for professional accounting qualifications. Logic has trained thousands of aspirants across India for the last 2 decades and has a strong track record in International and national accounting programs like ACCA, CMA USA, CPA USA and CA education.

Veranda Commerce is one of the largest commerce education verticals in India and is actively expanding its footprint. Brands under this vertical include JK Shah Classes, BB Virtuals, Navkar Digital Institute, Tapasya College of Commerce and Management, and Logic School of Management.

The CIAP program features a fast-tracked, globally aligned curriculum that can be completed in just six months. It is tailored for both students and working professionals aiming to build successful careers in international accounting and finance. The program offers placement assistance through IAB, certification from the National Skill Development Corporation (NSDC), and access to bank loan facilities — making it a practical, affordable, career-focused, and accessible pathway to rewarding careers in global finance and accounting. The first batch of the CIAP program is expected to commence by the end of June.

The launch event was inaugurated by Ms. Sarah Palmer, CEO of IAB, who highlighted the growing global demand for skilled finance professionals. “We are delighted to collaborate with Logic School of Management to introduce the CIAP qualification in India,” said Ms. Palmer. “This program is not just a certification—it’s a passport to career opportunities, designed to equip learners with the real-world skills required by employers in the financial industry.”

Established in 1973, IAB is one of the most trusted awarding bodies in the UK, with a focus on raising professional standards in bookkeeping, accounting, and payroll globally.

Other dignitaries present included Mr. Ranjit Srivenkatesh, Director, IAB; Ms. Michelle Griffiths, Deputy Chief Examiner, IAB; Ms. Fathayya Khan, Manager, NSDC Academy; Mr. Nikhil, representing NSDC; and Ms. Rosmin, IAB Coordinator.

Mr. Santhoshkumar, Director of Logic School of Management, expressed his enthusiasm for the initiative, stating, “We are pleased to bring this globally recognized qualification to our students in India. Our vision is to empower future-ready professionals through international certifications that unlock career opportunities across India.” This initiative reinforces Logic School of Management’s commitment to delivering high-quality, internationally benchmarked education in accounting and finance.

Shree Cement and RITES inks partnership to enhance Rail Infrastructure for seamless logistics

Shree Cement Limited (SCL), one of India’s leading cement producers, has signed a Memorandum of Understanding (MoU) with RITES Limited, a Navratna enterprise under the Ministry of Railways, Government of India to strengthen its rail infrastructure network. This strategic collaboration will facilitate the development of rail infrastructure and allied services across Shree Cement’s manufacturing units enabling more efficient and sustainable transportation of raw materials and finished goods.

The agreement is effective for a period of five years from the date of signing and can be extended further with mutual consent.

Speaking on the occasion Mr Neeraj Akhoury, Managing Director, Shree Cement said, “As we expand our manufacturing footprint across India, strengthening our logistics and supply chain infrastructure becomes increasingly critical. Our collaboration with RITES is a strategic step towards creating a more efficient, cost-effective and sustainable transportation system that supports our growth while reducing environmental impact.”

Under the terms of the MoU, RITES will cover the services from concept to commissioning in connection with the up-gradation, renovation and establishment of new rail connectivity for the transportation of raw materials, cement, and other associated materials. Further, RITES will act as the Project Management Consultant (PMC), providing end-to-end consultancy services that span the entire lifecycle of infrastructure projects from reconnaissance and feasibility studies to detailed project reports and execution management.

As part of its role, RITES will also assist in securing all necessary approvals from the Ministry of Railways and other relevant authorities for civil, signal and telecom, overhead electrification and mechanical engineering components. Additionally, RITES will support Shree Cement in contractor selection by evaluating and certifying the eligibility of executing agencies during the tendering process.

Dr. Deepak Tripathi, Director (Technical) & Director (Projects, Addl Charge), RITES Ltd., said, “We are pleased to partner with Shree Cement in the infrastructure development journey. With our proven expertise in rail and transport engineering, we are confident of delivering integrated and future-ready solutions that align with our mutual business goals.”

This partnership marks a significant step in Shree Cement’s commitment to operational excellence and sustainable logistics. By leveraging RITES technical capabilities and domain expertise, the company aims to build a robust rail infrastructure that supports its long-term business growth and aligns with national priorities for greener industrial operations.

Kotak Life and Royal Challengers Bengaluru Join Hands to Launch HauslaBadhao

Mumbai, June 02, 2025: Kotak Mahindra Life Insurance Company Ltd. (Kotak Life), the official insurance partner of Royal Challengers Bengaluru (RCB), has launched #HauslaBadhao—an initiative aimed at raising awareness about the growing risk of critical illnesses and the importance of financial preparedness to overcome them.

This initiative stems from a powerful truth—when critical illness strikes, it impacts an individual’s financial stability and shakes the hausla (courage) of the entire family. In such situations, families are often forced to dip into savings, take loans, pause long-term goals and make difficult sacrifices.
Kotak Life’s Critical Illness Rider provides crucial financial support during these challenging times, helping families maintain their hausla when they need it most.

In India, the prevalence of critical illness and medical costs is on the rise:

· One in nine Indians are likely to develop cancer in their lifetime2

· 1 in 4 deaths in India is caused by cardiovascular disease3

· Healthcare costs in India are rising by 14% annually, with 62% paid out-of-pocket and 23% covered through borrowings4

#HauslaBadhao is rooted in the belief that while health challenges are often unavoidable, financial preparedness empowers families with the courage to fight back. Through this initiative, Kotak Life and RCB empower Indians with protection through Kotak Life’s Critical Illness Rider1, delivering crucial financial support during medical emergencies.

Ashish Nair, CMO and Head – Customer Value Management and Health Tech, Kotak Mahindra Life Insurance, said: “Every dream begins with hope. But not every journey goes as planned. Just like in cricket, an unexpected delivery can change the game of life. #HauslaBadhao represents our commitment to equipping Indians with financial tools to face any of life’s uncertainties that come their way. Kotak Life offers a Critical Illness Rider with most of its policies at an affordable cost, providing added protection when one needs it the most”.

Rajesh V Menon, COO, RCB, said: Our partnership with Kotak Life is driven by a shared belief—that preparedness builds resilience. We are proud to support an initiative that encourages Indians to take control of their future by being financially prepared to fight critical illnesses.”

Playboy Clubs India Embarks on Strategic Expansion to Redefine Luxury Nightlife Across Major Indian Cities

India, 2nd June 2025: Playboy Clubs India is proud to announce its ambitious expansion plans with a ₹250 crore investment aimed at transforming India’s premium nightlife landscape. With a strong commitment to delivering immersive, tech-driven, and luxurious entertainment experiences, the brand will soon make its presence felt in key cities including Mumbai, Hyderabad, Kolkata, and Goa.

Building on the brand’s globally recognized legacy, Playboy Clubs in India have emerged as cultural epicenters where bespoke experiences, high-energy nightlife, and elite social environments converge. The expansion will see the introduction of new formats including VIP-exclusive lounges, themed Bunny Bars, and AI-integrated party spaces all tailored to meet the rising demand of a younger, more discerning urban audience.

“India’s nightlife has matured significantly over the past few years. Guests are no longer content with just drinks and music—they seek curated, memorable moments,” shares Rohit Malhotra, Owner of Playboy Clubs India. “This expansion is not about adding more clubs—it’s about elevating the standard and making every venue a destination in itself.”

As part of its expansion strategy, Playboy Clubs will deepen its focus on technology-led hospitality. This includes AI-powered bartenders that craft mood-based cocktails, VIP concierge systems, and AR-enhanced environments that turn each night into a sensory adventure.

The brand is also committed to sustainable luxury, integrating eco-friendly practices such as zero-waste cocktail programs, locally sourced ingredients, and exploring carbon-neutral design options across its new venues.

With India’s nightlife rapidly moving toward exclusive, themed, and wellness-integrated spaces, Playboy Clubs aim to be more than nightclubs—they’re lifestyle destinations. Each new venue will reflect a distinct narrative, from relaxed outdoor beer gardens to luxe rooftop lounges, ensuring that every guest finds an experience that resonates.

“The future of nightlife in India is about quality, personalization, and global sophistication,” adds Malhotra. “We’re not just expanding real estate—we’re creating a nationwide network of iconic destinations that set the benchmark for high-end entertainment.”

As India positions itself on the global map for luxury nightlife, Playboy Clubs India is set to lead this renaissance, where bold design, cutting-edge innovation, and refined indulgence converge.

Kerala’s First and Largest Apple Premium Partner Store to Open Soon at LuLu Mall, Kochi

Hyderabad, June 2 2025 – Imagine proudly announces the launch of Kerala’s first and largest Apple Premium Partner (APP) Store at LuLu Mall, Kochi. This flagship destination, powered by Ample, India’s most trusted Apple expert, promises to redefine the tech retail experience in the state. With world-class design, immersive product experiences, and expert support, the new Imagine APP Store is set to become Kerala’s go-to hub for all things Apple.

“We always knew this would be a blockbuster, so we marketed it like one,” said Neha Jindal, Chief Marketing Officer at Ample. “From the cinematic teasers to the dramatic reveal, our goal was to build excitement and anticipation. And now, we’re thrilled to reveal the real star – a one-of-its-kind store experience designed especially for the Apple fans of Kerala.”

Spanning a spacious footprint and constructed to Apple’s latest global design standards, Imagine at LuLu Mall isn’t just a retail outlet — it’s an immersive Apple experience. From hands-on product trials to guided demos by trained experts, the store will offer everything Apple in an environment that brings together style, simplicity, and technology.

“This isn’t just about opening a store. It’s about setting a new benchmark for what technology retail can be in Kerala,” said Partha Sarathi Bhattacharyya, Chief Business Officer at Ample. “We are proud to bring Kochi to a destination that reflects Apple’s vision – a space where customers can discover, learn, and fall in love with technology all over again.”

Grand Launch: 30 May | 5:30 PM | LuLu Mall, Kochi

And in true blockbuster style, the grand unveiling will be led by none other than actor-director and hometown favourite, Basil Joseph. Known for his cinematic flair and beloved across the state, Basil is the perfect choice to usher in Kerala’s biggest tech moment.

The launch event promises to be a one-of-a-kind celebration where cinema meets cutting-edge technology, and Kerala meets Apple — like never before. Attendees can expect an evening of high-energy entertainment, hands-on Apple experiences, and exclusive store launch offers.

With Apple-trained staff, world-class service, and Ample’s legacy of customer-first excellence, the new Imagine store at LuLu Mall is more than a retail destination — it’s the beginning of a new Apple journey for Kerala.

Serum Institute of India Launches Nationwide HPV-Cancer Public Awareness Campaign

Pune: The “Conquer HPV & Cancer Conclave 2025” was launched today in Pune as part of a nationwide public health initiative led by the Serum Institute of India (SII).

India continues to face a significant burden of HPV-related diseases, particularly cervical cancer, which remains the second most common cancer among women in the country. According to the ICO/IARC Information Centre on HPV and Cancer (2023), India reports over 1.23 lakh new cervical cancer cases and more than 77,000 related deaths annually. Apart from this up to 90% of anal cancers & 63% of penile cancers are associated with HPV.

At the Pune event, a panel of medical specialists engaged in an in-depth discussion about the public health implications of HPV. The panel included:

· Dr. Meenu Agarwal – Consultant Gynaecologist Infertility Specialist and Laparoscopic Surgeon, Incoming Vice President FOGSI 2026, Sec. General-International Society of Gynecological Endoscopy

· Dr. Shirish Kankariya – Practicing Pediatrician at Shishumoh Clinic, Inamdar Hospital, Ruby Hall Clinic, Pune. Treasurer, IAP Pune, 2021, President, IAP Pune, 2024

· Dr. Mahima Lalwani – Consultant Obstetrician, Gynecologist, Infertility Specialist and Director at Lalwani Mother and Child Care Hospital, Pune

The session was moderated by Dr. Sanjay K. Lalwani – Vice Principal, Medical Director Professor & Head- Department of Pediatrics, Bharati Vidyapeeth Medical College & Hospital, Pune. IAP-ICP Governing Council Member 2024-26. Together, they highlighted the pressing need for awareness, the importance of reaching both adolescents and parents, and the role of healthcare providers in guiding preventive care.

The speakers emphasized that HPV is not limited to cervical cancer alone. It is also associated with cancers of the vulva, vagina, anus, penis, and oropharynx, affecting both men and women. With peak HPV infection occurring between ages 15 to 25, early awareness and timely preventive action are essential. With an affordable HPV vaccine now available, it has become still more easier to protect every individual from HPV associated cancers.

“Through these conclaves held across the country, we aim to increase understanding of Human Papillomavirus (HPV) and its link to cervical and other cancers,” said Parag Deshmukh, Executive Director, Serum Institute of India. “By bringing together medical experts, healthcare workers, and community members, the forum encourages open dialogue and practical steps toward early detection and prevention.”

The Pune conclave concluded with an open dialogue involving audience members, reinforcing the broader goal of the campaign: to reduce the burden of preventable cancers through informed decision-making and community engagement. The initiative will continue in cities across the country in the coming months, creating platforms for credible voices in healthcare to educate and empower the public.

Serum Institute of India, headquartered in Pune, is the world’s largest vaccine manufacturer by volume and has played a longstanding role in advancing public health in India and globally.

Global Day of Parents: Rediscovering family’s favorites with modern projectors

Before compellingly addictive smartphones divided what used to be shared screen time, families gathered every evening to relish their favourite shows, films or sporting events together. Smart projectors may just be reviving that nostalgic era and bringing families together with their compelling features. The growing popularity of new age projectors has been elucidated by a recent study by Global Market Insights Inc. It indicates that the laser projector market, valued at USD 15.5 billion in 2023, is projected to be worth USD 69.9 billion by the end of 2032.

Sushil Motwani—Founder of Aytexcel Pvt. Ltd. and the official India representative of Formovie says projectors are dominating the home entertainment market because of advantageous features like a large screen, potential benefits for eye health, cost-effectiveness and convenience. ” I would say without hesitation that modern projectors are transforming family entertainment by offering an opportunity to share meaningful screen time. Families are once again enjoying classic movie nights, favourite shows and sporting events at home thanks to the immersive viewing experience that projectors provide. Their easy usability also facilitates family bonding over shared stories, ” says Mr Motwani.

He points out that products like Formovie’s Cinema Edge are particularly being favoured by families as they are simple to use and offer world-class sound, plug-and-play ease, app compatibility and seamless streaming convenience. They are also better for eye health than televisions which cause screen fatigue after extended binge watching sessions.

“The larger than life images that were once only associated with cinema theatres can now be savoured right at home by the entire family. This naturally encourages collective engagement and brings people together, minimising isolation that individual screen time fosters. Modern projectors are also portable, do not need a dedicated space and can turn any indoor or outdoor location into a mini theatre. Added features like voice control, intuitive interfaces and integration with popular streaming platforms, make them family-friendly as well,” adds Mr Motwani.

The ease of maintenance is another advantage that families can enjoy. As Mr Motwani explains, “Generally, projectors with laser light sources have a longer lifespan than those with traditional lamps. Traditional projector lamps typically last 2,000 to 4,000 hours, while laser projectors can last 20,000 to 30,000 hours or more.”

Home entertainment, he says, should be a cross-generational experience and smart projectors create memorable viewing experiences for every member of the family, be it a young child watching ‘Frozen’ for the umpteenth time or grandparents watching black-and-white classics from the 60s.

“Many of our clients tell us that they are recording memories and making home movies to screen them during family gatherings. This just goes to show what a powerful role technology can play in nourishing family bonds. We are thrilled that projectors like Formovie’s Cinema Edge are turning passive viewing into shared experiences that will be remembered for generations,” concludes Mr Motwani.

Jockey Redefines Youthful Athleisure Wear through the Launch of ‘JKY GrooveTM’ Collection

National, 02 June 2025: Jockey, the brand known for innerwear, sleepwear, and athleisure, today announced the launch of its latest JKY GrooveTM collection, a style-forward athleisure range for young adults aged 18 to 24. Available exclusively in 52 Jockey exclusive stores across India and company’s website – www.jockey.in, Groove is designed to appeal to the tastes of a fashion-forward, comfort-seeking, and socially active audience, bringing a youthful energy to Jockey’s offerings.

The JKY GrooveTM collection captures the vibrant spirit of Gen Z with trend-driven designs that prioritize both style and ease. Infused with Jockey’s signature comfort, Groove offers a fresh take on athleisure, empowering young adults to express their unique identity with confidence.

“At Jockey, we aim to keep up with the pace of today’s fast-paced lifestyles of our customers while retaining our core values of bringing in a blend of comfort and quality, the core features that we are known for. Our new line features a stylish, range of athleisure that connects with the Gen Z audience in a manner that feels authentic and relevant,” said Nihal Rajan, Chief Marketing Officer, Jockey India. “The Groove collection redefines athleisure by delivering pieces that are not only designed for comfort but also to make a statement. This new line delivers an effortless, groovy vibe that aligns perfectly with Gen Z’s rhythm and sense of identity. Featuring oversized fits and youthful cuts, the collection offers a versatile range of wardrobe staples including t-shirts, hoodies, multi-utility cargos, crop tops, and tank tops, elevating everyday wear with a trend-forward aesthetic. Thoughtfully designed for both form and function, each piece combines contemporary silhouettes with on-trend details that inspire freedom of movement and creative expression”.

Since its inception, Jockey’s trajectory has steadily evolved from an innerwear brand to becoming a household name as a leading lifestyle brand. With an ever-evolving range of everyday essentials and athleisure among others, the brand continues to align itself towards modern tastes and preferences that reflect both changing fashion sensibilities and a commitment to comfort-led design.