Category Archives: Business

Product Launch of Facticity.AI and Sneak Preview of Almost Real-Time Fact-Checking Plugin

Singapore, Singapore, June 19, 2024 — GenAI LLMs are known to hallucinate and have been merged with mainstream Internet Search and need a more factual LLM like Facticity.AI to help mitigate the The Dangers of AI Hallucination. According to SMS Tan Kiat How, “The potential use of Facticity.AI is global and not just limited to Singapore.” Main Photo Caption: seer. shows a sneak preview of an almost real-time fact-checking plugin to help ordinary citizens fight fake news and scams to Senior Minister of State for Communications and Information Tan Kiat How and CEO of NLB Mr. Ng Cher Pong, and more than a thousand residents at the NLB’s S.U.R.E. roadshow.

Hence, it is of the upmost importance to help citizens determine what is fact and what is fiction. There are three key advantages that Facticity.AI, with its world-leading and patent-pending AI stack, has over its competitors, according to AI Seer Pte. Ltd. (“seer.”)’s CTO A M Shahruj Rashid:

1) Automating (away tedium): Manual fact-checking can be time consuming, and even with good transcription, it takes a lot of time to extract which parts of a speech have factual claims, then research different sources and figure out how true or false it is and explain it. seer.’s Industrial Designer who does not have a journalism background, used Facticity.AI’s premium features to unearth a US presidential candidate’s false factual claim about the Second Amendment in this video on Fact-Checking Wild Claims in 2024 by US Presidential Candidates.

2) Accessible: From automating fact-checking of public speeches by just inputting a video link or turning on a browser plugin to plain fact-checking of text or documents, Facticity.AI is applicable to all aspects of online life and will be easily integrated as a browser extension plugin soon.

3) Accurate: Facticity.AI boasts a 92% accuracy rate, higher than other LLMs (learn more about seer’s benchmarking against a competitor’s dataset at www.aiseer.co/facticity), ensuring that the facts it gives you are credible and trusted and less hallucinatory than other LLMs and fact-checking products.

seer.’s CEO Dennis Yap also gave a talk on how other LLMs tend to make factual errors, especially on their tendency towards epistemic immodesty and recently how even big tech’s popular products started to hallucinate. This is why seer.’s mission to integrate authentication into information streams to check untruths is so important in today’s world with Mal-information, Dis-information and Mis-information being super-charged by GenAI. 1.4 trillion dollars is already being lost to scams globally, with Singaporeans losing the most per capital, which is why public and private partnerships are important to ensure human safety from AI and false facts. seer. is actively exploring partnerships with the various organizations interested in AI Safety and a more Truthful world.

Recently, Tim Draper and Draper Associates has invested another 200k USD (bringing their total investment to more than 1 million USD) and Nvidia Inception is providing grant funding and technical support to this Singapore-based startup. According to Tim, “Now there is a premium on honesty. seer. comes from Singapore, perhaps the most honest country in the world, with technology that can detect the truth. I am excited about this company and all the potential applications we see for this technology.”

e1 Air Unveils Affordable and Clean On-Site Hydrogen Production and Electrical Charging for Aviation

McLean, VA, June 19, 2024 — e1 Air (www.e1air.com), a leader in sustainable aviation solutions, has reached a significant milestone in hydrogen production. Leveraging its proprietary on-site methanol-to-hydrogen production technology, the firm can offer hydrogen in reasonable quantity for less than $5 per kilogram right at the point of use. At a time when hydrogen hovers at $35 per kilogram in markets such as Southern California, e1 Air’s solution will provide economies and force price stability to accelerate aviation sector adoption.

e1 Air’s breakthrough achievement, www.e1air.com/post/e1-air-unveils-affordable-and-clean-on-site-hydrogen-production-and-electrical-charging-for-aviation, underscores the firm’s commitment to supplying clean and affordable energy solutions for the aviation industry. By converting methanol feedstock into 99.99% pure hydrogen directly and on-demand at airports, e1 Air is revolutionizing the way hydrogen is distributed for aviation markets. Using methanol and water as the hydrogen carrier bypasses the high costs of transporting gaseous or liquified hydrogen. Methanol, a simple alcohol, packs more hydrogen by volume than even liquid hydrogen. It is reformed on-site to generate hydrogen.

This e1 Air technology also allows for clean mobile electricity generation that can be used to charge airport ground service equipment. Delivery of mobile electricity generation on-demand is both novel and unique.

“This achievement represents a major step forward in our mission to transform the aviation industry,” said Michael Dyment, Chairman of e1 Air. “With hydrogen offered at below $5/kg, we are poised to make this a competitive and sustainable fuel option for aircraft and ground transportation. This is a near-term, clean, and mobile solution for airports’ overburdened electricity capacity.”

Piramal Finance Surpasses INR 50,000 Crore in Retail Loans, Aims to Double Retail AUM by FY28

Mumbai, 19th June 2024Piramal Capital & Housing Finance Ltd (herein referred to as Piramal Finance), a leading diversified financial services company and wholly owned subsidiary of Piramal Enterprises Limited (PEL), today announced that it had surpassed the milestone of INR 50,000 Crore in AUM of Retail Loans.

PEL operates through its wholly owned subsidiary, Piramal Capital & Housing Finance Ltd., under the collective customer brand Piramal Finance. Piramal Finance has built a multi-product retail business, offering products tailored to Bharat’s diverse needs and financially empowering the country’s underserved segments. Over the last three years, Piramal Finance has expanded its customer base across Bharat, positioning itself as a leading Non-Banking Financial Company- Housing Finance Company (NBFC-HFC) in the affordable lending space.

In 2021, Piramal Finance acquired Dewan Housing Finance Corporation Limited (DHFL), which was the first successful resolution under the IBC route in the financial services sector. It remains among the largest resolutions in value terms in the industry.

Since then, the businesses have been fully integrated and grown, with the branch network increasing from 300 to 490, spanning 26 states/UTs as of 31 March 2024, and the customer base increasing to 4.1 million. The employee strength has also increased from ~5,000 to over 13,000 today.

As a merged entity, Piramal Finance has launched multiple lending solutions for the budget Bharat customer, offering over 13 loan products, including home, business, personal, loan against securities (LAS), and used car loans. Mortgages remain the dominant part of the portfolio, accounting for 68% of the overall retail AUM, with a 38% year-on-year increase in FY24. The housing loan portfolio has continued its strong growth trajectory, disbursing an average of INR 800 crore per month in FY24, with an average ticket size of INR 19 lakh.

Speaking about the milestone achievement, Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd., said, “We are delighted and humbled to have reached INR 50,000 crore in retail AUM. This scale demonstrates the massive business opportunity that exists in small-town Bharat markets. Since the acquisition of DHFL in 2021, our goal has been to build on its strong customer franchise in smaller towns. It is gratifying to see us regain our position as a leading financial services company in the affordable housing space. Our business will continue to be focused on MSMEs and small salaried individuals across Bharat, providing more people access to formal credit.”

Piramal Finance’s ‘High Tech + High Touch’ strategy is centered around a strong physical distribution – 490 branches, spanning 26 states, 625 districts, and 404 cities and towns, serving over 6,000 pin codes of the country in metro-adjacent areas and Tier 1, 2, and 3 cities. The company plans to expand its branch network with 50-100 more branches by FY25.

This is coupled with a High-Tech infrastructure that spans customer-facing assets like the website, mobile app, and WhatsApp. Tech is also deeply embedded in the company’s operations, enabling quick decision-making, AI-enabled underwriting and legal and technical processes, providing a seamless customer experience.

Piramal Enterprises Limited aims for Retail Lending to constitute 75% of the loan book. As of 31 March 2024, the total AUM stands at INR 68,845 crore, with the retail book accounting for 70%. PEL envisions growing its AUM to INR 1.5 lakh crore by FY28.

Lenskart Launches Pro-Fit by Lenskart Air and Hooper

Forget the frustration of glasses constantly slipping down because Lenskart, the eyewear innovator, has dropped its latest game-changer: The Pro-Fit range by Lenskart Air and Hooper.

For years, Eyewearers have faced a common problem: the struggle to keep their eyewear in place without interrupting their flow. The Pro-Fit range is set out to create a solution for those who are always on the move.

It is crafted from ultra-light TR90 and features Lock-Tech. The frames have temple tips that adjust to securely grip your ears, keeping your glasses firmly in place. No more mid-flow adjustments – just pure focus on whatever you’re hustling for.

Pro fit caters to everyone. Whether you’re mastering yoga poses, crushing dance routines, or casually chilling with your friends. With sleek, sporty silhouettes and classic colors accented with vibrant pops, there’s a pair in the Pro-Fit collection that complements your style and keeps your vision clear, no matter your age.

Lenskart continues to set new standards in eyewear, ensuring that those on the move can enjoy without any distractions from their glasses. Embrace the freedom of movement

Antony Starr’s Homelander Named Time Magazine’s Superhero of the Year

The launch month of Prime Video’s The Boys Season 4 is filled with diabolical surprises for the fans. Post the much-awaited season 4 premiere with the first three episodes, The Boys’ newest promotional stunt is creating a stir across the globe. Featuring Antony Starr’s egoistic avatar, Homelander, Time Magazine branded the super as the ‘Superhero of The Year’ leaving the fans awe-struck.

After getting the title of The Superhero of The Year, Homelander announced an “Ask Me Anything” panel on Reddit for all his fans, blurring the lines between reality and fiction. This takeover allowed him to present his side amidst the ongoing trial in the series, to the audiences who love him (or not).

The Boys is based on The New York Times best-selling comic of the same name by Garth Ennis and Darick Robertson, who also serve as executive producers, and developed by executive producer and showrunner Eric Kripke. The series, from Sony Pictures Television and Amazon MGM Studios, returned with the much-awaited fourth season on June 13 in English, with dubs in Hindi, Kannada, Tamil, Telugu, and Malayalam languages, only on Prime Video and will release episodes weekly till explosive finale on July 18.

AirLife Announces a Partnership with HEINE to Distribute the visionPRO Video Laryngoscope

Grand Rapids, MI, June 19, 2024 — AirLife, a leading North American manufacturer and distributor of consumable medical devices for anesthesia and respiratory care, has announced a partnership with HEINE for the visionPRO video laryngoscope. This relationship is a significant addition to AirLife’s commitment to a world-class portfolio through greater access to HEINE’s video laryngoscope offering.

The HEINE visionPRO video laryngoscope is a modular, reusable system that is used with a variety of single-use blades and is suitable for routine use during any intubation procedure.

As the world’s largest supplier solely focused on respiratory and anesthesia products and airway access, it was immediately apparent that AirLife has a business synergy with HEINE. HEINE has been a leader in laryngoscopes for decades and visionPRO continues HEINE’s tradition of industry leading products. Hank Struik, CEO of AirLife, stated: “visionPRO is a perfect fit for AirLife as a critical component of our portfolio. Both parties believe this relationship is beneficial, not only to each of our businesses, but also to the customers we serve.”

Corporate gifting in the digital age: Blending tradition with technology

By Karan Sehdev, Founder of Merch Matters

Rewarding has been a common practice in the corporate fraternity in which many organizations have considered gifts and incentive products as a tool for conveying corporate images or messages. This involves a company presenting a gift to another client or employees, partners, or stakeholders for reasons of being valued, to show appreciation, or to encourage a business relationship. Earlier corporate gifts were traditionally done with pens, calendars, desktop accessories, or gourmet food basket gifts. This was usually approximately the kind of gifts which were mostly discovered bearing the company logo and it was regarded as good publicity for the company to arouse goodwill. These were also employed in cultivating ‘image’ or ‘brand image’ that is a favorable image of the company.

Since it affects employee morale and motivation it has an impact on employee’s performance as well. Employees who bring gifts to work, should be encouraged and be complimented, as this would make them more enthusiastic, committed, and constructive in their work. It may help boost the emotions of being part of a group or a team and make them feel, the company appreciates them. The aspects such as, how the care was shown, how the care was personalized, and importantly, how the care was delivered genuinely go a long way in deciding such an essence.

This trend of corporate gifting has therefore adapted itself to incorporate both traditions and the technological advances of the present day. Even though gift-giving is linked back to the early days of trade and barter, this custom has evolved to include a complex and diverse set of reasons why business gift-giving is indispensable, also the introduction of new trends of gift-giving with technologies enhances the novelty and increases the possibilities of gift giving.

The following article reveals how one can design unique corporate gift ideas:

1. Personalization:

Nowadays customization is quite important. Information obtained through technology can allow businesses to know their clients and employees, thus giving them gifts that matter. Personalization provides a personal touch to corporate gifting ranging from customizing messages and engraved items to personalized gift suggestions based on individual preferences.

2. Technological Gift Ideas:

Technology has made it possible for people to give out gifts that stand out with a purpose at the same time. There are many options ranging from wearable technology, smart gadgets, and virtual reality among others which will make your employees happy. These techie presents not only define the modern approach of the company but also offer solutions that are useful and enjoyable in this digital era.

3. The Digital Gift Cards:

The contemporary gift card has been popularized over the past years. Moreover, they still have some advantages such as being flexible and practical because the recipient can choose their preferred products or services after receiving them. With just a few clicks, corporations can send digital gift cards via email or mobile apps resulting in a smooth process flow. Additionally, this idea is modern ensuring that its recipients get maximum benefits from it before another way is discovered by others

4. Using Social Media:

Corporate gifting and social media are the best way to go as they can provide a more fulfilling experience. This will keep the recipient firms engaged in gifting and create their narratives for giving or greeting. Moreover, it fosters gratitude by letting the world know that the company appreciates its clients and encouraging positive thinking among many people. It also helps companies to interact with their customers and other stakeholders easily unlike just participating in gift exchanges.

5. Blending Tradition with Technology:

Traditional presents should not be ignored. However, classic pieces like personalized stationery still make an impression on those who receive them, whether they are elegant pens or gourmet food baskets. By incorporating conventional and techie gifts into their content strategies, organizations can opt for more variety and come up with different perspectives.

The custom of corporate gifting has been effective in nurturing relationships, creating brand awareness, and building a sense of enthusiasm. When companies choose sentimental yet meaningful gifts they can make a positive lasting impact on recipients.

BDA Advises Amartha on Capital Raise from a Consortium Led by Accion

New York, NY, June 19, 2024 — BDA Partners is pleased to announce that its client, Amartha, an Indonesian microfinance technology company, has successfully raised growth capital in a funding round led by Accion Digital Transformation Fund, with participation from Maj Invest and Women’s World Banking. The investment aims to help deliver Amartha’s ambition of building a platform providing a full suite of financial products and services to underserved women-led small businesses in mainly rural areas across Indonesia by harnessing the power of data and AI.

BDA was the exclusive financial advisor to Amartha on the transaction. Terms of the transaction were not disclosed.

Amartha has developed a comprehensive digital financial infrastructure that connects microbusinesses in Tier 2 and 3 cities across Indonesia. By incorporating an embedded lending and funding model for both institutional and retail investors, Amartha streamlines personalised financial solutions that resonate with their customers. Amartha also offers payment services and a proprietary credit scoring system, providing a highly integrated microfinance technology option for digitising Indonesia’s grassroot communities. To date, Amartha has disbursed working capital of over 25 trillion Indonesian rupiah (US$1.6 billion) to over 2.5 million women-led businesses in rural and peri-urban areas of Java, Sumatra, Nusa Tenggara, Sulawesi and Kalimantan.

Managed by Accion Impact Management, the Accion Digital Transformation Fund builds on Accion’s experience supporting banks and finance companies around the world to connect millions of people and small businesses to the digital economy. Investments from the US$152.5 million fund focus on companies serving micro, small and medium enterprises (MSMEs) across South and SE Asia, LATAM and Africa, providing growth capital and strategic support for digital transformation.

Ramdhan Anggakaradibrata, Chief Financial Officer of Amartha, said, “Amartha and Accion have shared objectives – reducing inequality in access to financial services. The latest funding from Accion Digital Transformation Fund will help strengthen our ability to leverage the power of data and AI. We will not only meet the current needs of our customers but also anticipate future trends and challenges. This approach will help us remain at the forefront of FinTech innovation, continually evolving to provide cutting-edge financial solutions that empower our customers and drive sustainable growth.”

Njord Andrewes, Managing Partner of Accion Transformation Capital and member of Amartha’s Board of Commissioners, said, “Through its unique business model and marketplace platform, we believe Amartha is in a prime position to connect many women-led small businesses across Indonesia to responsible financial services for the first time. We are partnering with Amartha to provide both strategic support and growth capital, as they work to reach new clients in underserved areas using digital technologies.”

Rica Wirianata, Partner, BDA Partners, said, “This transaction epitomises robust cross-border interest in the thriving Indonesian economy. We continue to be excited about backing high quality category leaders like Amartha.” Anindita (Andi) Das, Managing Director and Head of Technology SE Asia, BDA Partners, said, “This is a landmark transaction in the SE Asian FinTech space that truly reflects how impact investing is enabling the democratisation of financial services. Amartha’s successful fundraise is a renewed vote of confidence in the region’s dealmaking environment with investors backing high-growth, profitable companies. We are delighted to have advised Amartha on this transaction and congratulate Amartha and Accion on their partnership.”

BDA Deal Team
Jeff Acton, Partner, Co-Head of Tokyo, Head of Technology, Tokyo
Rica Wirianata, Financial Sponsors Group, Singapore
Anindita Das, Managing Director, Head of Technology SE Asia, Singapore
Rishi Das, Director, Singapore
Joscelin Kee, Vice President. Singapore
Daryl Lee, Associate, Singapore
John Chui, Analyst, Singapore
Brandon Heng, Analyst, Singapore

World’s Largest Integrated E-cycle Gigafactory Shows Rapid Progress

India- 19th June 2024: EMotorad, India’s leading electric cycle manufacturer backed by cricket legend MS Dhoni, announces significant progress in constructing the world’s largest integrated e-cycle gigafactory. The company is on track just four weeks after the announcement, with commissioning set to begin shortly, followed by full-scale operations.

The gigafactory’s phase 1 spans 2,40,000 square feet and is strategically designed to meet the increasing global demand for sustainable, high-performance electric cycles. They will integrate all aspects of production, from design and manufacturing to assembly and quality control, ensuring high standards of efficiency and product excellence.

A month ago, the site was a plot of land. The roofing is now complete, signaling the pace at which the construction is moving forward. This swift progress shows their commitment to meeting the needs of a growing global market for electric mobility solutions.

Rajib Gagopadhyay, Managing Director and Founder of EMotorad highlighted the company’s dedication to speed and efficiency in a statement: “One thing integral to our DNA is the speed of work. The ever-growing and rapidly changing demand worldwide has pushed us to try and start operations for phase 1 at a record speed. Our team’s hard work and commitment are driving this project forward, and we are excited about the positive impact this gigafactory will have on the e-cycle industry and the environment.”

In addition to the physical progress, EMotorad is making strides in its workforce development and community engagement efforts. The company plans to create hundreds of new jobs, providing training and opportunities for local workers to participate in the booming electric vehicle industry. This initiative supports economic growth and fosters a skilled workforce that will drive innovation and excellence in electric cycle manufacturing.

Aster Medcity Tops in Outlook & NEB Research 2024 Hospital Rankings; 2nd Best Multi-speciality in India, 1st in South India

Kochi, 19th June 2024: Aster Medcity has achieved remarkable recognition in the prestigious Best Hospital Rankings 2024 by Outlook and NEB Research. This ranking aims to identify the best hospitals in India, providing valuable guidance to healthcare consumers. Aster Medcity has secured top positions across multiple categories, such as the 2nd Best Multi-specialty Hospital in India and the 1st Best Multi-speciality Hospital in South India, reflecting its leading position in delivering high-quality healthcare services.

Aster Medcity’s specialized departments have also been recognized for their performance. The hospital has been honored as the 3rd Best Urology Hospital in India as well as the 1st Best Cardiology Hospital in Kochi, showcasing its excellence in cardiac care and cutting-edge cardiology treatments.

“Driven by our vision to provide accessible, affordable, and quality healthcare to all, it is our teams’ dedication and efforts that have made this achievement possible. Recognitions like this will inspire us to set new benchmarks in healthcare,” said Farhaan Yasin, Aster India’s Vice President about the recognition.