Category Archives: Business

EKA Mobility Partners with IKEA to Supply Electric Delivery Vans, Accelerating Fleet Electrification

New Delhi, Tuesday, 28th August 2024: EKA Mobility, a leading innovator in the electric vehicle (EV) sector, has announced a strategic partnership with IKEA to supply electric delivery vans as part of IKEA’s initiative to electrify its last-mile delivery fleet in India. With backing from prominent equity partners such as Mitsui & Co., Ltd. (Japan) and VDL Groep (Netherlands), EKA Mobility continues to be at the forefront of sustainable transportation, driving the shift towards a greener future.

This partnership has already seen the successful delivery of 10 electric vans to IKEA, with plans to expand the fleet across multiple regions in India. This collaboration is a pivotal step in IKEA’s global sustainability efforts, aimed at reducing carbon emissions and achieving a fully electrified delivery network.

The transition to electric delivery vans is expected to significantly reduce IKEA’s carbon footprint, contributing to a more sustainable and environmentally friendly logistics operation. EKA’s electric vans are equipped with state-of-the-art battery technology, providing reliable, efficient, and profitable service in urban environments. This partnership not only supports IKEA’s sustainability goals but also sets a new standard in the retail sector for the adoption of electric mobility solutions.

Mr. Rohit Srivastava, Chief Growth Officer of EKA Mobility, said, “Our partnership with IKEA represents a significant milestone in our mission to revolutionize urban logistics through sustainable electric mobility solutions. By supplying IKEA with our advanced electric delivery vans, we are not only contributing to a cleaner environment but also showcasing the potential of electric vehicles in transforming the logistics industry. We are committed to continuing our collaboration with IKEA and look forward to expanding our efforts in the near future.”

Saiba Suri, Country Customer Fulfilment Manager, IKEA India said, “Our approach to sustainable logistics at IKEA India goes beyond adopting EVs—we are focused on building an efficient infrastructure, skill building initiatives and future opportunities for all in the value chain. As we grow in India with an EV first approach, IKEA India is now more prepared to address the challenges related to it and committed to investing in long-term, innovative solutions. We’re truly grateful for partners who share this vision with us. As we enter new markets, our priority is to ensure they are equipped for this change, laying the groundwork for the future of our supply chain.”

As IKEA continues to pursue its commitment to sustainability, this collaboration with EKA Mobility represents a significant milestone in its journey toward a more sustainable future. EKA’s cutting-edge electric vehicles are perfectly aligned with IKEA’s mission to reduce its environmental impact while maintaining operational excellence.

E2E Cloud and AIC-IIIT Kottayam Join Hands to Boost the Indian Startup Ecosystem

India, 28th August 2024: E2E Cloud, India’s leading AI-first MeitY-empanelled cloud service provider (CSP), has signed a Memorandum of Understanding (MoU) with AIC-IIIT Kottayam, an incubation centre sanctioned under the Atal Innovation Mission scheme of the Government of India. The AIC-IIIT Kottayam Foundation is a non-profit Sec.8 company; the centre provides mentoring and training to entrepreneurs. This partnership aims to nurture and accelerate the growth of deep tech and AI startups across India.

Through this collaboration, startups will gain access to E2E Cloud’s unmatched cloud GPU infrastructure, ranging from HGX H100 and A100 cloud GPUs, to InfiniBand-powered cluster configurations like 64xH100 (Deep64) and 2048xH100. As part of the agreement, E2E Cloud will offer cloud GPU resources, workshops, guidance, mentorship, and technical support to AI startups incubated at AIC-IIIT Kottayam.

This alliance is set to create a robust ecosystem for AI startups at IIIT Kottayam, enabling them to leverage state-of-the-art technology to develop scalable and effective solutions. “We are thrilled to collaborate with AIC-IIIT Kottayam. Our goal is to empower the deep-tech startups being incubated at AIC-IIIT Kottayam with our advanced AI-first infrastructure, along with additional support structures to help them scale. We’re proud to join forces with AIC-IIIT Kottayam to foster and strengthen the AI startup ecosystem in India,” said Kesava Reddy, CRO of E2E Cloud.

Dr Shajulin Benedict, Director of AIC IIIT Kottayam Foundation noted: “Leveraging cloud-based computational resources can heavily reduce the initial operational costs of startups. AIC-IIIT Kottayam is proud to join hands with E2E to nourish our dynamic startups and contribute to creating a self-reliant nation.”

E2E Cloud is proactively exploring collaborations with top incubators and accelerators across the country to accelerate AI development in India and bolster the growth of the startup ecosystem. The partnership between E2E Cloud and AIC-IIIT Kottayam is anticipated to be instrumental in shaping the future of AI startups in India, fostering innovation, and advancing technological progress on a global scale.

VitrA’s Memoria Collection by Christophe Pillet

VitrA, a global leader in innovative bathroom solutions, presents the Memoria collection, designed by the renowned Christophe Pillet along with the VitrA Design Team. This collection redefines modern luxury with its distinctive design elements and sophisticated craftsmanship.

The VitrA Memoria collection introduces a striking new look to the bathroom with its sharply delineated outlines and exquisitely slender forms. The washbasins, including the Memoria Infinit, are crafted from the mineral cast, offering both elegance and durability. Their smooth and glossy surfaces, paired with delicate lines and graceful curves, exude an air of effortless sophistication.

The collection consists of washbasins and WCs, offered in an array of colors including white, matt white, matt black, and matt taupe. These elements provide a cohesive and luxurious bathroom experience, seamlessly integrating with various design aesthetics. VitrA offers a 10-year warranty on the ceramic sanitaryware products, ensuring peace of mind and long-lasting quality.

The VitrA Memoria collection, with its clean-lined ceramic washbasins and a range of color options, ensures that modern luxury is accessible and adaptable to diverse bathroom styles. Whether enhancing the minimalist appeal of the Memoria Infinit washbasin or blending harmoniously with other bathroom elements, this collection stands as a testament to VitrA’s commitment to innovation and design excellence.

The Noise Buds N1 Pro have arrived

India, 27 August 2024: Noise, India’s leading connected lifestyle brand, announced the latest TWS, Noise Buds N1 Pro is available for sale starting tomorrow on Amazon. Available in four stylish colours – Chrome Black, Chrome Green, Chrome Purple and Chrome Beige.

Building on the phenomenal success of the Noise Buds N1, Noise introduced its highly anticipated successor Noise Buds N1 Pro last week. The latest offering redefines audio luxury, seamlessly blending cutting-edge technology with sophisticated design. Powered by advanced Active Noise Cancellation (ANC), Noise Buds N1 Pro filter out background noise and offer consumers a sonic escape from the world around them. With a refined chrome and metallic finish, the new earbuds seamlessly blend premium aesthetics with advanced engineering, making them the ideal choice for those who demand both style and substance in their audio gear.

The Noise Buds N1 Pro delivers an enhanced audio experience with its 11mm drivers, offering unmatched dynamic sound and powerful bass, making it an ideal travel companion. Equipped with Noise’s proprietary Instacharge™ technology, these wireless buds provide an impressive 60 hours of total playtime, including 200 minutes of continuous playback with just 10 minutes of charging. Featuring ultra-low latency of up to 40ms for lag-free gaming and video playback, the Noise Buds N1 Pro also incorporates HyperSync™ technology for a quick, hassle-free one-step connection experience. With BT v5.3 ensuring fast and stable connectivity and Quad Mic ENC (Environmental Noise Cancellation) providing crystal-clear calls by eliminating unwanted background noise, these earbuds offer a seamless and enjoyable audio experience.

The Noise Buds N1 Pro seamlessly blends cutting-edge technology with sophisticated aesthetics. Packed with premium features, it’s the perfect companion for style-conscious individuals seeking unparalleled audio experiences.

Product Specifications

Apex Restaurant & Market Solutions Caters Tyson Family Fair Day

Missouri-based food service company provides lunch for the fifth consecutive year to 3,500 stakeholders and collaborators at Tyson Foods’ annual event.

(St. Louis, Mo., Aug. 27, 2024) – Apex Restaurant & Market Solutions recently catered the annual Tyson Family Fair Day at the Missouri State Fair. More than 3,500 Tyson Foods team members, vendors and contractors from its Sedalia Complex were treated to a day of food and fun at the Missouri State Fair held in Sedalia, Mo.

Tyson Foods is one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair. Founded in 1935, the company is headquartered in Northwest Arkansas.

“The Tyson Family Fair Day is an annual opportunity for us to show appreciation to our stakeholders and collaborators, as well as recognize employee achievements such as ‘Team Member of the Year’ and ‘Length of Service awards’,” said Tyson Foods’ Sedalia Complex Manager Dustin Tippin. “Our Sedalia Complex was established in 1994, so this year was special because we recognized team members who have dedicated 30 years of service to our company.”

The event featured various activities centered around family enjoyment including raffle giveaways for bikes, camping gear, grills, sporting events, and concert tickets. Apex provided lunch for the fifth consecutive year to attendees, enhancing the festive atmosphere of the fair day. Tippin added, “It was a wonderful experience, and we look forward to many more years of celebrating our team at the Missouri State Fair.”

Apex Restaurant & Market Solutions is the largest independently owned corporate food service company based in Missouri with headquarters in St. Louis and Kansas City, Mo. The organization expanded its reach by opening offices in Columbia, Mo., Des Moines, Iowa and Denver, Colo.

Apex Restaurant & Market Solutions

Apex is a full-service provider that supplies catering, in-office cafes and coffee, and vending services for its corporate clients. Apex has more than 270 micro markets located in office and manufacturing facilities across Missouri, Colorado, and Iowa. These convenient self-checkout markets offer employees a wide selection of healthy food and quality beverage options. Approximately 10% of Apex’s micro markets are hybrid facilities, which feature a chef-prepared hot food component available for purchase. Apex also offers Elite Cuisine, its flagship culinary experience that handles all corporate dining and catering services. For more information about Apex Restaurant & Market Solutions, call (866) 607-4400 and visit www.apexrefresh.com.

India’s famed Khurja pottery gets a digital makeover

August 27, 2024, Export-Import Bank of India (India Exim Bank), under its Grassroots Initiatives for Development (GRID) programme, has engaged with Khurja Pottery Manufacturers Association (KPMA) to establish a 3D Design Studio. Earlier this year, the Bank organised a design development workshop for 25 master artisans, in association with National Institute of Design, working in this sector in Khurja. The objective of the programme is to empower local pottery makers and artisans in Khurja with advanced design skills and technologies for making their products globally competitive. Khurja boasts over 300 manufacturing units engaged in tableware crockery and technical ceramics, that provide employment to more than 30,000 skilled and unskilled workers.

 The design studio was inaugurated today at Khurja, by Ms. Harsha Bangari, Managing Director, India Exim Bank, in the presence of Mr. Ravi Rana, President, KPMA; Mr. Darshan Chhatwal, Vice President, KPMA; Mr. Savan Kumar Sharma, Scientist & Head of Central Glass and Ceramic Research Institute, Khurja Centre (CGCRI); Mr. Ashutosh Singh, General Manager, District Industry Centre; and Ms. Deepali Agrawal, Deputy Managing Director, Exim Bank.

 Design development has long been a critical challenge for Khurja pottery, which is renowned for its heritage potters, limiting their ability to create innovative and marketable products. This also has been limiting their potential to produce potteries which are in sync with the market demand. The Bank’s support to set up a 3D Design Studio addresses this challenge by providing access to advanced design tools and expertise and promises to catalyse the growth of the age-old industry and improve its export potential.

 The 3D design studio offers several benefits to the 250+ local pottery units who are members of KPMA, by providing access to state-of-the-art technology and expert guidance. The studio will empower them to experiment with new designs, reduce production costs, and improve the overall quality of their products. Further, the studio’s training programme equips pottery makers with the skills necessary to create intricate designs and patterns that are both aesthetically pleasing and commercially viable. The contemporary designs developed have an international appeal. The potters of Khurja have been able to secure orders from global brands and the Bank has also supported them by enabling their participation in prestigious art festivals such as Kala Ghoda Arts Festival.

 During the inauguration of the studio, Ms. Bangari emphasised the Bank’s unwavering commitment to supporting micro, small, and medium enterprises (MSMEs) in Uttar Pradesh. She highlighted the 3D design studio’s role in modernising the ceramic industry, enabling local manufacturers to elevate their design capabilities and compete effectively in the global market. Recognising the export potential of these MSMEs in the state, the Bank has recently opened its regional office in Lucknow. Ms. Bangari also mentioned about the support provided by Bank’s GRID programme to several clusters in UP through organising skill development training programs for weavers of Banarasi Silk sarees and Zari Zardozi artisans and sponsoring the participation of several artisans in renowned festivals like the Surajkund International Craft Mela, Kala Ghoda Arts Festival, and the Bank’s flagship event, Exim Bazaar.

 The Bank envisages to provide a holistic and sustainable intervention and therefore besides setting up a 3D design studio, it has also installed solar panels and provided trained technicians in collaboration with the National Institute of Design (NID), Ahmedabad.

 India Exim Bank, through its Grassroots Initiatives for Development (GRID), and Marketing Advisory Services (MAS) programmes, has actively supported artisans, master craftsmen, weavers, clusters, self-help groups, NGOs, grassroot and micro-enterprises, for their various needs through capacity-building, setting up common facility centres, augment operational efficiencies, achieve higher value addition, and widen market access to support and build international linkages for such entities. The 3D Design Studio demonstrates Exim Bank’s continued commitment to foster economic growth and development in India’s hinterland.

Autonom8 Partners with HDB Financial Services to Revolutionize Customer Loan Journey

Chennai/Mumbai, 26th August 2024: Autonom8, a provider of GenAI-enabled automation solutions provider is pleased to announce a strategic partnership with HDB Financial Services (HDBFS), a leading NBFC in India. HDBFS aims to upgrade its customer loan experience by leveraging Autonom8’s low code technology.

This partnership enables HDBFS adapt faster to customer insights towards offering them a superior experience. Customers now have access to seamless self-service options ensuring smoother and more efficient loan journey by automating and streamlining intricate workflows. The integration of low code platform has led to exceptional customer satisfaction and positive response. Additionally, this platform also enables customised journey for a better experience.

Venkata Swamy, Chief Digital and Marketing Officer, HDBFS said “Digitization is core to our strategy and underpins our commitment for better customer engagement and efficient business processes in driving sustainable growth. Our online platform provides seamless credit access promoting financial inclusion. We look forward to enhancing our service capabilities and continue to offer superior experience to our customers using advanced technologies, prioritizing customer satisfaction.”

Balakrishnan Kavikkal, Co-Founder and CEO at Autonom8 said, “We are excited to partner with HDBFS as this partnership aligns with our mission to leverage advanced technologies to transform business processes. Our low-code platform is designed to automate and streamline complex workflows, enhancing both operational efficiency and customer satisfaction. We are delighted that HDBFS has chosen us as their strategic partner to drive significant improvements in service delivery and customer experience through innovative technology.”

Aeron Composite Ltd planning to raise up to Rs. 56.10 crore from public issue; IPO opens August 28

Bengaluru, 26 August 2024: Ahmedabad based Aeron Composite Ltd, leading company engaged in manufacturing and supply of fibre glass reinforced polymer products is planning to raise up to Rs. 56.10 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue opens for subscription on August 28 and closes on August 30. Out of the proceeds of the public issue, Rs. 39 crore will be utilized to fund the capital expenditure requirements towards setting up of a manufacturing unit at Mehsana, Gujarat and general corporate purpose. Hem Securities Ltd is the book running lead manager of the issue.

The initial public offering of Rs. 56.10 crore, comprises of a fresh issue of 44.88 lakh equity shares of face value Rs. 10 each. Company has finalized price band of Rs. 121-125 per equity share for the public issue. The minimum lot size for retail investors is 1,000 shares amounting to minimum investment of Rs 1,25,000 at the upper price band of Rs. 125 per share. Retail investor quota for the IPO is kept at not less than 35% of the net offer, HNI quota is kept at not less than 15% of the offer and QIB portion is kept at not more than 50% of the offer.

Aeron Composite Ltd

Incorporated in the year 2011, Aeron Composite Ltd is engaged in the business of manufacturing and supplying of Fiber Glass Reinforce Polymer Products i.e. FRP products including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications. FRP product is a composite material consisting of a polymer matrix (resins) reinforced with fibers such as fiberglass, carbon or aramid. This combination offers benefits, including corrosion resistance, chemical resistance, high strength, lightweight properties, electrical and thermal non-conductivity, and ease of fabrication. Company provides comprehensive solution which includes conceptual design, prototype development, testing, manufacturing, logistic support, installation and after sales service.

The company’s manufacturing facility certified by ISO 9001:2015 is located in Saket Industrial Estate at Changodar, Ahmedabad and is spread over 26,320 square metres. The manufacturing facility is certified for the design, manufacture and supply of FRP pultruded products, FRP Handrails, FRP cable trays, FRP fencing, FRP moulded gratings, FRP Cross arm, FRP poles, FRP rods and module mounting structures for solar panels (MMS). Company exports to more than 30 countries

Key Financial Performance:-

Company has reported excellent operational and financial performance over years. The Company has witnessed a multi-fold growth in revenue and profitability over the years. For FY23-24 (till February, 2024), company has reported net profit of Rs. 9.42 crore (PAT Margin 5.26%), EBITDA of Rs. 14.27 crore (EBITDA margin 7.97%) and revenue from operations of Rs. 179.14 crore. For Full year of FY2022-23, company had reported net profit of Rs. 6.61 crore (PAT Margin 3.69%), EBITDA of Rs. 9.82 crore (EBITDA margin 5.48%) and revenue from operations of Rs. 179.38 crore.

As on February 2024, Net Worth of the company was reported at Rs. 34.78 crore, Reserves & Surplus at Rs. 33.21 crore and Asset base of Rs. 99.79 crore. As on Feb 2024, ROE of the company was 31.33%, ROCE at 29.67% and RONW at 27.09% with a healthy debt/equity ratio of 0.35 times. Promoter Group shareholding in the company will be 73.63% post the public issue. Shares of the company will be listed on NSE’s Emerge platform.

Jaipuria Institute of Management, Ghaziabad, Hosts Inaugural Session of Orientation Program 2024

Ghaziabad, 26h August 2024 – Jaipuria Institute of Management, Ghaziabad, commenced its Orientation Program for the new academic year by welcoming its newest MBA Batch of 2024-26, beginning on August 22, 2024.

Upholding the institute’s rich tradition, the Shubharambh 2024 event was meticulously designed to offer students a well-rounded introduction, enriched with spiritual blessings. On August 22, the students eagerly completed their documentation, marking the official start of their academic journey. The following day, August 23, was dedicated to spiritual reflection, as all students participated in the Sunderkand Path, underscoring the institute’s dedication to holistic development that blends academic excellence with spiritual grounding.

The orientation program was held on the 24th of August, 2024, marking the beginning of a transformative journey for the new batch of students.

The event commenced with the traditional lighting of the lamp and Saraswati Vandana, followed by a warm welcome to the distinguished guests and attendees. Prof. (Dr.) Daviender Narang, Director of Jaipuria Institute of Management, delivered the Welcome Address, setting the tone for the day’s proceedings.

Mr. Saket Jaipuria, Vice-Chairman of Seth Anandram Jaipuria Education Society, delivered the Inaugural Address, inspiring the students with his vision and commitment to excellence in education. The session was further enriched by the presence of notable speakers, including Mr. Vinay Thakur, Additional Director General at BiSAG-N, Ministry of Electronics and IT, Government of India, who shared insights into the role of technology in shaping the future.

The program also featured an address by Mr. Sameer Kohli, Director of EMEA Cloud Platform Insight, who highlighted the evolving landscape of cloud technology and its implications for management professionals. Additionally, Mr. Neeraj Mehra, Vice President of Human Resources at Infogain, and Ms. Anupama Tripathi, General Manager of HR at V5 Global, provided valuable perspectives on the industry’s expectations from future managers. The inaugural session concluded with a Vote of Thanks and a Guest Felicitation Ceremony.

The afternoon session, titled “Spandan: Alumni Meet 2024” provided a platform for alumni to share their experiences and insights with the new students. Distinguished alumni from renowned organizations such as India Mart, Axis Bank, KPMG, Bandhan Bank, ICICI, Zee Group, and Times of India captivated the audience with their stories of success and challenges, providing inspiration and guidance to the incoming batch.

Hikrobot Introduces Forklift Latent Mobile Robot QF-1000 for First Time in India at Automation Expo

Hikrobot has participated with latest Machine Vision Products and Mobile robots in the 17th edition of Automation Expo-Mumbai to display its latest cutting-edge technology and intelligent solutions. On this occasion, Hikrobot has launched the new product Forklift Latent Mobile Robot QF-1000 for the first time in India. It has also displayed Tugging AMR demonstration on the show floor. The event is being organised from 21-24 August at the BEC, Goregaon, Mumbai. The Chief Guest Subramanian Sarma, President (energy) and Member of the Board, Larsen & Turbo inaugurated the event in the presence of other dignitaries from the Indian Automation Industry. Hikrobot provides service to industry and logistics customers, and commit to continually promoting the intelligentization and leading the intelligent manufacturing process.

Commenting on the new product launch in the Automation Expo, Ashish P. Dhakan, MD & CEO, Prama Hikvision India Private Limited, said, “We had introduced a new product Forklift Latent Mobile Robot QF-1000 along with Tugging AMR and other latest Machine Vision Products and Mobile Robots at the Automation Expo, it is a premier event for the Indian Automation Industry. We also displayed Hikrobot’s innovative solutions in the Machine Vision System category, including Area Scan Camera, Line Scan Camera, 3D Camera, Smart Camera, Smart Code Readers, Vision Box, FA Lens, Light Source and Software. These solutions are relevant to various industry segments.”

The newly launched Forklift Latent Mobile Robot Equipped with both the chassis and forks to combine flexibility with the ability of directly carrying pallet load. Compared with traditional forklift, the less weight of whole robot can be applicable to the low-floor load-bearing scene. It applicable to various types of carriers. Compared with traditional forklift, it supports extremely narrow roadway picking and putaway with the moving speed increased by 25% to increase reservoir capacity. It supports various safety protection plans to realize 360° protection. It supports indicating device status via screen, status indicator, and speaker. It supports Wi-Fi communication and seamless roaming in a network-covered area.

HIKROBOT F-7 2000 TUGGING AMR is the latest addition in the HIKROBOT’S product portfolio in India. These robots are available in the natural navigation. These robots support automatic hooking and unhooking. These TUGGING AMR load capacity is 2000 KG. It can move with high precision movement with 5 mm accuracy.

The Hikrobot booth showcased products included, AI smart camera based on a high–performance embedded platform (MV-SC6000), Built–in deep learning code reading algorithm (MV-ID3000XM), New Generation of control and processing equipment for visual inspection(VC2000/VC3000Controller) and Hand Held Smart Code Reader(IDH3013).The machine vision solutions that were put on display at the Automation Expo, included both Static DWS and Dynamic DWS, Smart Vision Sensors, RSC (Robot Control System) Software, Machine Vision Products and Accessories, Line Scan Camera, Vision Master Software, Machine Vision Light Products, Sequential Light Inspection, Smart Code Reader, Large FOV Smart Code Reader, Hand Held Barcode Reader, Parcel Tracking Solution, Intelligent AMR Products, FMR,CTU, CMR, and Accessory Platform.

The Hikrobot Machine Vision products including Smart Cameras and Photoelectric sensors were displayed for the Automation Industry professionals.Another highlight of Automation Expo 2024 was the carefully curated conference program, which included themes of CEO Conference, Process Automation, Robotics, and Factory Automation. Hikrobot booth at the Automation Expo got good response from the relevant visitors and delegates. The show attracted visitors and automation industry stakeholders from across India.