22, Dec 2023
Space World Group Launches Their Next Venture, Constl – A Visionary Digital Network Infrastructure Service, After Brookfield-Backed Invit Acquires STIPL (Space Teleinfra Pvt. Ltd.)
Launch of Constl ushers a new era in optical fiber-based digital infrastructure
Sole purpose is to provide world class digital infrastructure services connecting people, businesses and communities across the globe
Launches their technologically advanced DIaaS platform
c. 2,000 kms of fiber network roll-out started and significant capacity will be online in H1 CY2024
New Delhi, December 22th 2023: In a bold leap towards the future, Space World group today announced the launch of Constl, a cutting-edge venture established in 2023. Focused on realizing an enduring vision, Constl is committed to providing world-class digital infrastructure solutions specifically tailored to connect people, businesses, and communities across the globe.
The launch comes in the backdrop of a landmark move in 2021 that proved to be a defining year for Space World Group as Brookfield-sponsored Tower Infrastructure Trust (Tower InvIT) successfully acquired Space Teleinfra Pvt Ltd (STIPL), valuing the acquisition at an impressive 150 million USD.
Embark on a Visionary Journey with Constl and empowering Digital Connectivity
In the wake of India’s rapid digital transformation, Constl is poised to empower businesses with comprehensive nationwide coverage, offering business critical connectivity infrastructure. Currently in India, there is scarcity of good quality fiber as current fiber is built for access for dedicated customer set. There is a need for high-capacity and reliable network infrastructure which is flexible & scalable as per customer needs. In alignment with the national objective of achieving Digital India, Constl is committed to empowering businesses with seamless and robust digital connectivity. The venture envisions providing unparalleled network infrastructure, facilitating top-notch data connectivity to propel businesses forward in the digital era.
Services Offered
Mr. Ankit Goel, Founder & Chairman of Space World Group stated, “Constl’s primary goal is to provide services that set the industry standard, aiming to stand out prominently among its peers. We want to give the flexibility of bandwidth specification, consumption model & scale at user convenience to our customers and business partners.”
Key Offerings
The key services that they offer include on-demand services with ~100% uptime & low latency, configuration of paths and automated purchase of connectivity services. They also specialise in connecting key digital hubs and own their dedicated fiber network that provides for better control, quality, scalability & predictability of services.
Among other offerings they also provide dark fiber, private lines, low latency connectivity solutions, CLS black-haul and cloud interconnect services. However, the most ground-breaking of all is their DIaaS (Digital Infrastructure as a Service) platform. With its engaging interface for handling all kinds of networking requirements, a customer-centric UI/UX providing transparency, control, analytics, speedy delivery of services, it is a unique platform that will give control to businesses. It is the only neutral platform in the market with its own high-end fiber assets; enabling it to provide best-in- class service to Telcos, OTTs, ISPs, Data Centers, government projects & more.
Radhey R Sharma, Co-Founder & Director of Space World Group talks of continued growth and connectivity excellence stating, “As a part of the Space World Group, Constl aligns itself with the group’s commitment to create a scalable, seamless, and unparalleled digital infrastructure. With its launch, we aim to solve the reliability, latency and scalability issues for our customers and business partners. The need for a reliable fiber connectivity infrastructure will now be more than ever owing to the evolution of generative AI models, Data Center expansions and 5G network rollouts. Constl plans to be the largest neutral optical fiber network player in the country inspired to simplify the connectivity business.”
Looking Ahead: A Connected Tomorrow
With the establishment of Constl, Space World Group positions itself at the forefront of the services offered to the telecommunications industry, shaping the future of connectivity in India. The Group continues to charter its course towards excellence, innovation, reliability, seamless customer experiences and a steadfast commitment to advancing digital connectivity infrastructure nationwide.
Timing is everything
Constl will be one of the largest digital connectivity infrastructure platform of India and has a capex plan of USD 500 mn. The data growth story being very promising in India, building a right platform at the right time becomes imperative. For the purpose, the business plan needs c. USD 500 mn. Space World Group is infusing initial capital in Constl for dark fiber roll-out and active infrastructure.
SpaceWorld has already started the roll out for c. 2,000 kms of fiber network in select Metro cities and National Long-Distance lines and significant capacity will be online by H1 CY2024. Also, they have made a significant progress towards the network interface readiness and started procurement of active network equipment. The company is getting an exceptional interest from the potential customers for the current roll-out and is working closely with their technology planning teams for route mapping.
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- By Rabindra
22, Dec 2023
Nestroots raises Pre-Seed round Led by Beyond Seed Singapore to Accelerate Growth and Global Expansion
● Nestroots secures fundraise, expanding its product catalogue to various categories such as Kids Furniture, Wall & Tabletop Decor and Furnishings, and further strengthening its existing categories.
● The brand’s ambitious five-year plan extends to global expansion into the US, Canada, and UAE market and establishing an offline presence.
India, 22 December 2023 – Nestroots, a prominent new age home decor and lifestyle brand, announces a fundraise of ₹3 crore, led by BeyondSeed Singapore, with investment expertly handled by Bestvantage Investments. This infusion of capital comes on the heels of Nestroots projecting an impressive year-on-year double digit growth, cementing its formidable standing in the burgeoning Indian home decor market.
Arjun Vaidya, Marquee D2C mentor & investor has participated in the round and also come on board as a mentor.
Nestroots, dedicated to excellence in design, quality, and accessibility, is set to leverage this funding to fortify Nestroots’ online dominance with diverse product ranges by introducing new categories like Kids’ Furniture and bigger Furniture alongside an expansive range of Decor. Additionally, with a keen eye on global markets, Nestroots’ ambitious global expansion plans over the next five years include venturing into strategic territories, including the US, Canada, and the UAE, marking a significant milestone in its international presence. Alongside the Brand aims to bolster its offline footprint through Shop – in – Shops (SIS) and Multi-Brand Outlets (MBOs). This growth aligns with the brand’s vision of becoming the ultimate ‘Home-Everything’ destination.
Nestroots plans to set itself apart in India’s 32 Billion USD thriving Home Decor industry, projected to reach USD 39.44 Bn by 2027 with a CAGR of 4.18%[1] by offering unique designs, superior quality, and budget-friendly pricing. The brand has fast become the top choice for consumers seeking affordable luxury in home decor, which the company labels as — ‘Luxury on a Budget’.
“Recognising the need for comprehensive home solutions, Nestroots aspires to be the ultimate ‘Home-Everything’ in India’s thriving home decor market. We are committed to becoming the go-to destination for all home essentials and the recent fundraise strategically places us to diversify our product categories and become a favourable Brand amongst consumers across India. Looking forward, over the next five years, we plan to showcase the richness of Indian design with international aesthetics, offering premium designs at accessible prices”, said Chhavi Singh, Founder and CEO of Nestroots.
“This significant investment propels Nestroots towards new heights. It strengthens our financial foundation and fuels our ambition to be the foremost destination for home decor. Our goal extends beyond products; it’s about making Nestroots a symbol of trust and excellence amongst consumers, fulfilling our grand vision of becoming the market leader, not just in India but also in the global markets”, said Shekhar Godiyal, Co-Founder and COO of Nestroots.
“The landscape for India’s furniture and decor market has drastically evolved in the last decade. We are excited to back the team at Nestroots who are focused on capitalising on the fast-changing consumer trends and right use of technology to take their platform to scale”, said Kuldeep Mirani, Co-Founder & CEO, Beyond Seed Venture Solutions, a Singapore- based early-stage investor.
Nestroots earned national acclaim with a ₹50 Lakhs investment for 2% equity from Namita Thapar on Shark Tank India Season 2, propelling the brand to establish a solid online presence across significant e-commerce platforms like Amazon, Pepperfry, and Myntra, in addition to its official D2C website. With a revitalised vision and fresh funding, the brand is set to fortify its market standing and revolutionise the home decor industry. It remains steadfast in its commitment to crafting homes beautifully and offers consumers an unparalleled selection that harmoniously combines aesthetics, quality, and affordability.
22, Dec 2023
Shadowfax introduces Flash, takes on Dunzo with 30-minute Deliveries
Bengaluru, December 22, 2023 – Shadowfax, a leading player in the logistics industry of India, proudly announces the launch of its cutting edge on-demand delivery serviceapp – Flash by Shadowfax, which will allow merchants & customers to enjoy instant delivery service within the city. Through this service, Shadowfax aims to take on Dunzo with 30-Minute deliveries providing swift, reliable, and cost efficient last-mile delivery solutions. The service has an advantage of being present in over 50 cities today.
Flash by Shadowfax caters to on-demand convenience, empowering users to request pickups and drop-offs as needed. The platform introduces the innovative concept of milk run deliveries, enabling businesses to consolidate multiple shipments on a single route, thereby optimizing efficiency and lowering overall delivery costs. Positioned as a cost-efficient logistics solution, Flash prioritizes speed and reliability, making it an optimal choice for businesses aiming to enhance and streamline their delivery operations. It also integrates advanced GPS technology, providing customers with real-time tracking capabilities, ensuring full visibility into the delivery process from the start to finish.
Praharsh Chandra, Co-Founder & Chief Business Officer at Shadowfax, opines, “We are thrilled to introduce Flash by Shadowfax. In an era where speed, reliability, and cost efficiency are paramount, Flash by Shadowfax addresses the evolving needs of businesses and consumers alike. This service aligns with our commitment to innovation and customer satisfaction, providing a comprehensive solution for efficient, on-demand logistics. Flash is not just about delivering packages; it’s about delivering value.”
22, Dec 2023
IACC Appoints Pratik Vaidya, MD & CVO of Karma Global as Regional Committee Member -West India Council
22th December, Mumbai: The Indo-American Chamber of Commerce (IACC) has announced the appointment of Mr. Pratik Vaidya, Managing Director and Chief Vision Officer of Karma Global Consulting Solutions Pvt Ltd, as the Regional committee member of IACC’s West India Council for Presidential Year 2023-24. His role will encompass various responsibilities related to promoting and facilitating business and economic relations between India and the United States. With a corporate journey spanning 25 years, Pratik Vaidya embodies extensive leadership, renowned for his strategic prowess and global outlook within the human resource and tech-enabled law compliance sector. Notably, he’s a trailblazer in revolutionizing the audit-tech sector, acknowledged as a visionary businessman and esteemed thought leader.
Mr Pratik Vaidya, MD and Chief Vision Officer of Karma Global Consulting Solutions Pvt Ltd said “I am honoured to join IACC’s West India Council as a Regional committee member and grateful for the privilege to speak at this event. This appointment underscores Karma Global’s values of innovation and a global mindset, showcasing our dedication to excellence. As a committee member, I eagerly anticipate contributing valuable perspectives and engaging in insightful discussions that push forward the dialogue on the dynamic landscape of capital markets.”
“We are delighted to welcome Mr Vaidya as a Committee Member. His wealth of experience and strategic insights align seamlessly with our mission. We anticipate his impactful contributions to further enhance the collaborative spirit within the IACC. Added Samir Patel President, IACC – WIC.
Under Mr Vaidya’s leadership, Karma Global has recently celebrated the completion of the record-breaking development of automating 576 types of Registers and Records as a disruptive development in the industry contributing towards the nation’s development since its establishment in 2004. His academic progress, coupled with keen intellectualism, consultation skills, and counselling experience, has played a pivotal role in shaping this success.
22, Dec 2023
Orkla India appoints Ms. Suniana Calapa as Director of Finance and IT
Mumbai, India, 22nd December 2023 – Orkla India, a portfolio company of Norwegian industrial investment firm Orkla ASA, announces the appointment of Ms. Suniana Calapa as Director of Finance and IT. This significant addition to the executive committee aligns with Orkla India’s ongoing strategy of enhancing operational efficiency and driving strategic growth.
Commenting on this significant appointment, Sanjay Sharma, Chief Executive Officer of Orkla India, said, “It gives us immense pleasure to welcome Suniana Calapa as Director of Finance and IT at Orkla India. Her proven track record and leadership will drive financial and technological efficiencies, ensuring seamless business operations.”
With an extensive background spanning over two decades, Ms. Suniana Calapa brings a wealth of experience in leading businesses, specializing in financial planning, controllership, analysis, and audit. She is well poised to take on the reins of finance and IT functions at Orkla India. Her role is pivotal in streamlining these functions for sustained profitability and technological advancement within the recently restructured Orkla India portfolio. Ms. Calapa’s career highlights include notable positions at Metro Wholesale India, J.P. Morgan, Kshema Technologies, Patni Computer Systems, and KPMG.
Expressing her enthusiasm, Ms. Suniana Calapa, Director of Finance and IT, shared, “I am pleased to join Orkla India as the director for finance and IT. I look forward to working with the group’s leadership and contributing to Orkla’s strategic growth. It is promising opportunity to be part of this dynamic team and Orkla India’s journey.”
22, Dec 2023
53rd edition of ISNCON 2023 held in Kolkata.
NephroPlus presented unique abstracts at the 53rd Annual National Conference of Indian Society of Nephrology (ISNCON 2023) held in Kolkata
National, December 22, 2023: The 53rd edition of ISNCON 2023 was held from December 14 to December 16, 2023. The Local Organizing Committee in Kolkata hosted the event. It is the flagship Nephrology event in India, which brings faculty from across India and the world. NephroPlus presented 2 abstracts at the conference, which brings unique perspectives about kidney care in India, in low resource settings.
Hepatitis C infection has long been a concern in the hemodialysis community, with its prevalence attributed to the concentration of risk factors within dialysis units. Recognizing the critical need for treatment strategies, India’s largest dialysis provider, NephroPlus, has launched a ground-breaking initiative as a pilot program across 6 dialysis clinics from April to June 2023 covering 20 patients to combat Hepatitis C in Andhra Pradesh with patients covered by the Government Healthcare Scheme. Hepatitis C positive patients with clinical criteria were chosen and treated at the provider’s own cost. We chose the approach but due to the high cost of treatment which remains unaffordable for patients and there is no public program to support it. 100% of patients were successfully treated and the significant health system benefits include source reduction in the HD units, less infection risk for hepatitis C negative patients in the dialysis units and lastly decreased cost of care
It is previously known that mortality is higher in first 90 days across health systems, globally. The early transition period can be particularly challenging in low resource settings like patients under government Insurance in rural India. In an observational study over 3 periods less than one third patients started with arteriovenous fistula (a safe permanent access) in a rural cohort, over the first 90 days, less than half patients were able to get a permanent access done successfully. In addition, mortality rate increased from 24% in the first 90 days among those who started with a permanent access to 34% among those who got a permanent access done. It rose to 67% among those who remained on a catheter in the first 90 days.
Dr. Suresh Sankar Senior VP, Global Clinical Affairs, NephroPlus emphasies, “Both the above studies bring unique insights regarding challenges and hurdles in providing ESKD in rural India. The findings on Hep C therapy, we believe this will pave the way for promoting public funding for Hepatitis C treatment for HD patients. The findings of our study on mortality is a clarion call for incremental steps urgently needed to decrease the significantly high mortality among rural socioeconomically challenged patients in India”
According to Mr. Kamal Shah, Co-Founder of NephroPlus, “NephroPlus remains at the forefront of healthcare innovation, harnessing technology and strategic partnerships to deliver accessible, high-quality care to patients across India. As the program progresses, the insights gained will further inform and shape future initiatives aimed at eradicating Hepatitis C and enhancing the quality of life for hemodialysis patients.”
22, Dec 2023
Leaders for India (LIO) launches ‘LIO App’
Bangalore: 22nd December 2023 –Leaders for India Organization (LIO), a members-only community founded by Mohnish Yerra in 2022, unites business leaders, entrepreneurs, and angel investors to harness their collective resources for mutual growth. LIO serves as a business accelerator and startup incubation platform, providing personalized one-on-one support based on unique professional needs and aspirations through effective networking and mentorship.
The new ‘LIO App’ is launched to revolutionize community interactions and foster meaningful connections. With a visionary approach, the LIO App introduces an array of features designed to bring individuals closer within a shared space, enabling seamless networking and engagement.
In the past 18 months, Leaders for India Organization has evolved into a thriving community with 104 members comprising industry leaders, business veterans, recognized professionals, and influential figures with a combined net worth of ₹25,000+ crores. LIO has disbursed over ₹20 crores for 16 distinct business opportunities.
Additionally, LIO has also excelled in wealth management, overseeing ₹19 Crores in financial products to ensure the financial health of members. LIO manages ₹9.05 crores in AUM in their wealth management arm and has facilitated ₹9.8 crores towards land projects. Mohnish also manages a personal investment vehicle, MYCap Investments, with an impressive portfolio of 18 companies.
The unique platform, Leaders for India Organization, has firmly positioned itself as a trusted partner for wealth creation, extending financial support to members. LIO has transcended traditional angel investment models to evolve into a comprehensive consultancy firm. LIO offers tailored support, functioning as a Business Accelerator, Financial Advisor, Startup Incubator, and Technology Consultant, ensuring entrepreneurs receive customized guidance for success.
LIO’s three major services—Cohort Convergence, Investment Opportunities, and Extended Team—cater to diverse needs. Cohort Convergence involves grouping members into cricket teams for training and international competitions, while Investment Opportunities span a broad spectrum, including startups, hedge funds, VCs, movie projects, and more.
Extended Team, featuring LIO Day, positions LIO as an integral part of the members’ wealth creation journey, supporting them in fostering the right synergies and providing continuous support. The monthly events by LIO are —LIO Business Shower, LIO Recreational Events, and LIO Day—serve as our tools to increase essential touchpoints, fostering networking opportunities. For example in “LIO DAY”, LIO team engages in one-on-one sessions to grasp the unique investment appetite of each member, exploring ways to compound their social capital.
According to Mr. Mohnish Yerra, the Founder and CEO of Leaders for India (LIO),” Through LIO, we’ve built a platform that not only invests but nurtures dreams, turning them into impactful realities, one venture at a time. The LIO app will help in seamless engagement between the members of LIO. The new LIO App has a flagship feature ‘LIO Buzz,’ empowering members to connect with fellow LIO enthusiasts within a 5KM radius. This unique functionality enables spontaneous meetups, enhancing opportunities for collaboration, knowledge sharing, and personal connections.”
He further added, “LIO’s influence extends beyond borders, forging successful partnerships in pivotal cities like Chennai, Indore, Bangalore, Mumbai, Gurgaon, and Hyderabad. In future we plan to expand operations into Bengaluru, Indore, New Delhi, Mumbai, and Pune within the country, while also considering international growth into London (UK), with the objective of nurturing business ties and broadening investment prospects. Through this we aim to build a vibrant community of over 1000 members in the next 3 years.”
22, Dec 2023
Amway India strengthens its premium skincare range: Introduces Artistry Skin Nutrition Vitamin C + HA3 Daily Serum
New Delhi, 22 December 2023: In its quest to provide a visibly healthy beauty to meet the diverse needs of an ever-evolving consumer, Amway India, one of the leading FMCG direct-selling companies, strengthens its Artistry Skin Nutrition range with Artistry Skin Nutrition Vitamin C+ HA3 Daily Serum. This daily ‘hero serum’ provides enhanced hydration for brighter, radiant skin and a visibly healthy, youthful glow. Universally safe with all skin types, the Artistry Skin Nutrition Vitamin C+ HA3 Daily Serum seamlessly complements the Artistry Skin Nutrition range, encompassing Artistry Skin Nutrition Anti-aging, and Balancing & Hydrating ranges.
Talking about the new launch, Ajay Khanna, CMO, Amway India said, “At Amway India, we are in a constant state of evolution, driven by the dynamic needs of our consumers. We are committed to providing need-based recommendations in skincare that seamlessly aligns with our consumer’s aspirations, helping them achieve their skincare goals. Harnessing our extensive expertise in skin science, we developed Artistry Skin Nutrition Vitamin C + HA3 Daily Serum, a hero serum that embodies the fusion of nature and scientific innovation. Artistry Vitamin C + HA3 Daily is a high-performance brightening Serum that works to visibly reduce lines and wrinkles and plump the appearance of skin with hydration. Concentrated with 2X Vitamin C, 2.4X antioxidants, and tri-action Hyaluronic Acid, Artistry Skin Nutrition Vitamin C+ HA3 Daily Serum is a fresh-mix bottle that gives you a boost youthful radiance with every use. As per our consumer perception studies, 80% of users reported that it improved their skin’s hydration and tone in less than a week. And, continued use over 4 weeks resulted in visibly brighter and more radiant skin. We are confident that Artistry Skin Nutrition Vitamin C + HA3 Daily Serum will be the most sought-after product, empowering consumers to embrace visibly healthy skin that radiates confidence.”
22, Dec 2023
Tata Steel receives 9 awards in the Five Star Rating category for its coal mines
Bengaluru, December 22, 2023: Tata Steel has been honored with a Five Star Rating Awards for its exceptional performance in coal mining. The company’s underground coal mines, including four collieries in Jharia, and its opencast mines in West Bokaro, received these prestigious awards. All of Tata Steel’s mines have been consistently rated 5 stars in the Annual Rating of Coal Mines in India for the years 2019-20, 2020-21, and 2021-22.
The Star Rating Awards were presented on December 20, 2023, at Vigyan Bhawan, New Delhi, during the Star Rating Award Ceremony 2023. The awards were presented by Shri Pralhad Joshi, Hon`ble Minister of Coal, Mines and Parliamentary Affairs, in recognition of Tata Steel’s exemplary performance. Sanjay Rajoria, General Manager of Jharia Division, Tata Steel, along with other senior officials of Tata Steel, received the awards on behalf of the company.
In the underground mining category, Sijua Colliery from Jharia Division secured the 1st prize for all three assessment years, while Jamadoba Colliery received the 2nd prize for the year 2020-21. Additionally, Digwadih Colliery was awarded the 1st prize for the year 2019-20, and Bhelatand Amalgamated Colliery secured the 2nd and 3rd prizes for the years 2020-21 and 2021-22 respectively. In the opencast mining category, Quarry AB coal mine from West Bokaro Division received the 1st prize for the year 2021-22.
Expressing his happiness on receiving the awards, D B Sundara Ramam, Vice President, Raw Materials, Tata Steel, said, “We are honoured to receive these coveted awards for our coal mines. Tata Steel’s consistent recognition in the five-star category reflects its unwavering commitment to excellence in operations and outstanding performance across its mining operations.”
Star Ratings are awarded on a scale from Five Star to No Star, evaluating each mine’s achievements holistically. Coal mines are evaluated under three categories: Underground Mines (UG), Opencast Mines (OC) and Mixed Mines. The rating is given for each parameter, and the sum of the maximum points of all applicable parameters, as well as the sum of scored points, is calculated. Mines scoring between 91% and 100% receives a five-star rating.
The Star Rating Award has become a catalyst, fostering interest and engagement across the coal mining sector, demonstrating a collective commitment to excellence and responsibility. The star rating policy marks a pivotal turning point in India’s coal mining sector, driving continuous improvement, enhancing efficiency, and ensuring adherence to the highest safety and environmental standards for a sustainable future.
22, Dec 2023
Aditya Birla Sun Life Insurance partners with IDFC FIRST Bank to offer Life Insurance Solutions
Bengaluru, December 22, 2023: Aditya Birla Sun Life Insurance Company Limited (“ABSLI”), the life insurance subsidiary of Aditya Birla Capital, India’s leading, well-diversified financial services provider has announced a partnership with IDFC FIRST Bank. This partnership aims to provide comprehensive financial solutions and underscores a common vision of serving customers with industry-leading products and services.
Under this collaboration, Aditya Birla Sun Life Insurance will leverage the extensive distribution network of IDFC FIRST Bank to offer its diverse range of life insurance products and services to a broader customer base. This collaboration aims to provide customers with convenient access to high-quality life insurance solutions, addressing their financial protection needs comprehensively.
Aditya Birla Sun Life Insurance has a suite of best-in-class products and services that focus on retirement planning, ensure a steady source of second income, and offer tax-free returns. These have been designed to align with the unique needs and aspirations of Indians across the corporate sector as well as rural India.
This collaboration, opens a range of opportunities for both new and existing bank customers to access ABSLI’s diverse product offerings tailored to their life stages, including the recently introduced protection and savings offerings like Salaried Term Plan, Nishchit Aayush Plan, Assured Savings Plan etc.
Mr. Kamlesh Rao, MD & CEO Aditya Birla Sun Life Insurance said, “We are excited about this partnership, as it underscores our commitment to deliver comprehensive financial solutions to customers. This collaboration will go a long way in enhancing accessibility, as well as making financial protection and planning easily available to a wider segment of customers served by IDFC FIRST Bank’s extensive distribution network.”
Mr. Vikas Sharma, Head, Wealth Management at IDFC FIRST Bank, said, “This partnership aims to enhance the customer experience and aligns with our Customer-First philosophy. Further, this partnership will also promote financial inclusion and increase awareness about insurance and protection amongst people.”
