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Tech Mahindra to set up a bio-incubator in Partnership with BioNEST

3Nov By Gauri SinghNo Comments

BUSINESS

Tech Mahindra to set up a bio-incubator in Partnership with BioNEST

Tech Mahindra is collaborating with BioNEST, a bio-incubator formed with the support of the Biotechnology Industry Research Assistance Council (BIRAC) to drive research and co-innovation in pharmaceutical and biotechnology space. The enterprises have signed a MoU (Memorandum of Understanding) to enable development of new technology platforms, and to bolster the pharmaceutical and biotechnology innovation ecosystem in the country. As the technology partner, Tech Mahindra will help leverage digital technologies to develop new platforms and solutions in the space. This collaboration with BioNEST will also enable industry and academia partnership, and ensure efficient exchange of knowledge in the area. “We have a comprehensive understanding of research and innovation in the biotechnolog...

HCL Collaborates with US-based Pivotal Software to Open Cloud Native Labs

2Nov By Gauri SinghNo Comments

BUSINESS

HCL Collaborates with US-based Pivotal Software to Open Cloud Native Labs

HCL Technologies has entered into a partnership with US-based Pivotal Software for the purpose of working on cloud-native software applications. The company is planning to open its own cloud-native labs across London, Dallas and Noida. With the help of this partnership, the companies could create advanced cloud-native applications for Pivotal Cloud Foundry (PCF), the cloud-native application platform. Such software applications are used in business process transformation. “HCL Technologies’ collaboration with Pivotal is significant as it enables the full spectrum of cloud-native services for our customers,” said Kalyan Kumar, CTO, HCL Tech. “Our range of cloud-native services to be offered on PCF, combined with HCL’s existing services, will allow us to execute complex application migra...

1Nov By Gauri SinghNo Comments

BUSINESS

Are You a Female Entrepreneur? Check out These Business Loans for Women

Access to capital continues to be the most critical problem every business owner hoping to expand their business faces. Being a woman in business, especially a Latino female, complicates things further. Did you know Latino women-owned businesses grew 87 percent between 2005 and 2007? Most Latino-owned firms stay small, however, with only 2 percent raking in more than $1 million in annual revenue. Why do they stay small? The answer is limited access to capital. Are you a female entrepreneur? Camino Financial provides a great resource for business loans for women. Latino Businesses Contributed $71 Billion to the Economy in 2014 Limited access to capital explains why Latino-owned businesses don't grow as much as they otherwise would. In 2017, 14 percent of Black-owned firms with more t...

A Digital Lending Platform Partners with Eko India to Enable Credit Line Services

1Nov By Gauri SinghNo Comments

BUSINESS

A Digital Lending Platform Partners with Eko India to Enable Credit Line Services

Indifi Technologies, a digital lending platform for small enterprises has entered into a partnership with Eko India Financial Services for the purpose of enabling credit line services to Eko’s cash distributors based on their transactions and trading activities through the portal. Following this partnership, Indifi aims to considerably fasten the movement of funds for a massive segment of small and medium-sized cash-based businesses. Eko, through the ‘Connect’ portal works with multiple distributors serving as community cashiers for retailers across the country. This transfers amount on their behalf to customers, suppliers, dependents in their family, or any other intended recipient. Eko has serviced more than 40 million customers as of now. “Our partnership with Eko will further ou...

31Oct By Gauri SinghNo Comments

BUSINESS

San Francisco-based Brex Partners with some Major Firms for its Reward Program

The billion dollar company Brex has launched its new rewards program in partnership with Amazon Web Services, WeWork, Instacart, Google Ads, SendGrid, Salesforce Essentials, Twilio, Zendesk, Caviar, HubSpot, Orrick, Snap, Clerky and DoorDash. With this partnership, the company aims to give entrepreneurs the ability to accrue and spend points on services and products they use regularly. The venture is owned by two 22-year-old serial entrepreneurs who are well aware of the costs associated with building a startup. “We didn’t want it to be something that everyone else was doing so we thought, what’s different about startups compared to traditional small businesses?” Brex co-founder and chief executive officer Henrique Dubugras said. Brex is basically a corporate card built for startups. ...

30Oct By Gauri SinghNo Comments

BUSINESS

Myntra Launches a Plus Size Apparel Brand Sztori

The online fashion retailer Myntra is making efforts to widen its portfolio of private brands and this time it has launched a plus size apparel brand called Sztori. This brand is designed to suit a larger range of body shapes and sizes. The particular brand will offer over 225 styles and designs including, Tees, denims, tops, dresses in large to XXXXL (4 times large) sizes for men and women. The price of these apparels will range from Rs 799-1,999. "Plus-size clothing is in great demand and it was time we offered something substantial in the category, opening up more avenues and possibilities for our customers,” said Manohar Kamath, CXO and Head Myntra Fashion Brands. He also mentioned that this segment will account for $5-6 billion in the $40-billion Indian online fashion apparel m...

Swiggy FY18 Revenue Surges 232% Moving Closer to Zomato

29Oct By Gauri SinghNo Comments

BUSINESS

Swiggy FY18 Revenue Surges 232% Moving Closer to Zomato

Food delivery company Swiggy saw a revenue surge in FY18, with operating revenues more than trebling to Rs 442 crore from Rs 133 crore last year. The company has been growing more and more with time and became a unicorn expanding its geographic footprint across the country. Starting from seven cities in March 2017, Swiggy has expanded its operations to 12 cities now. Also, the order volumes increased more than three times during the period. Order volumes doubled in the last four months alone. Swiggy ended September with more than 21 million orders in absolute terms. The company is now inching closer to Zomato which is the largest food delivery company in the market right now. Swiggy earned Rs 1.11 for every one rupee it lost in FY18. Swiggy's losses, however, are far deeper than Zoma...

Ibibo Founder Ashish Kashyap Launches his Second Venture

29Oct By Gauri SinghNo Comments

BUSINESS

Ibibo Founder Ashish Kashyap Launches his Second Venture

Ibibo Group founder Ashish Kashyap which was later acquired by travel giant MakeMyTrip, has now launched his second entrepreneurial venture called IndWealth, 13 months after quitting the domestic travel behemoth. IndWealth is an artificial intelligence and machine learning-based wealth management and advisory platform. The company will offer a range of services to high net worth and ultra high net worth individuals. In seed funding, the company raised an estimated $30 million (about Rs 220 crore) which is possibly the largest funding round raised by a homegrown startup that is still in stealth mode. “The key learning is, managing money cannot be done through a single dimension,” Kashyap stated. “It can’t just be done through investments. It has to be done through a combination of in...

Electric Scooter Startup Grin Merges with Ride for Expansion

27Oct By Gauri SinghNo Comments

BUSINESS

Electric Scooter Startup Grin Merges with Ride for Expansion

Mexico-based electric scooter startup Grin has reportedly merged with Brazil-based Ride to further carry forward the company’s expansion across Latin America. As of now, the Y Combinator-backed Grin only operates in Mexico City, but it has plans to expand to other cities throughout Latin America. This recent merger will enable Grin to do this as early as next week as Ride already operates in São Paulo. The development has come shortly after Grin raised a $45 million Series A round. Following the merger, Ride will operate under the Grin brand in Brazil and the Ride team will be in charge of all of Grin’s operations in Brazil. The ride is currently the only shared electric scooter operator in all of Brazil, but that will soon change when Yellow deploys its scooters. “We definitely wan...

Foodpanda Reaches 50 Indian Cities & Aims to Make it 100

26Oct By Gauri SinghNo Comments

BUSINESS

Foodpanda Reaches 50 Indian Cities & Aims to Make it 100

Online food delivery player Foodpanda has reportedly expanded its delivery network to 30 more cities in India which has further increased its existence to 50 cities across the country. With this expansion, the company mentioned that its delivery network is now live in cities like Jodhpur, Kota, Udaipur, Amritsar, Ludhiana, Jalandhar, Dehradun, Allahabad, Varanasi, Surat, Vadodara, Aurangabad and Bhopal among others. Along with this, Ola-backed Foodpanda is also planning to expand the network to 100 cities by the end of November. Across these cities, the foodtech firm claims to have more than 125,000 delivery partners on its platform as of now. "While our network now covers all metropolitans and major tier 1 & 2 cities across the country, we are excited about introducing the supe...

Twitter Reports Strong Profit in Q3 but Loses 9 Million Monthly Users

26Oct By Gauri SinghNo Comments

BUSINESS

Twitter Reports Strong Profit in Q3 but Loses 9 Million Monthly Users

The social media major Twitter posted stronger-than-expected profits and revenues in the third quarter. The social network delivered a $789 million profit, which included one-time gains, compared to a net loss of $21 million in the previous year, as revenues increased 29% to $758 million. The record profit included one-time gains from tax and asset valuation adjustments, without which the company's profit would have stood at $163 million for the quarter. However, on the other hand, the company’s average monthly active users witnessed its second straight quarterly drop to 326 million, from 335 million in the previous quarter. Out of these, around 67 million monthly active users is from the United States while 259 million users is from the rest of the world. "We're achieving meaning...

Cab Aggregator Grab Ties up With MasterCard to Offer Virtual Debit Cards

25Oct By Gauri SinghNo Comments

BUSINESS

Cab Aggregator Grab Ties up With MasterCard to Offer Virtual Debit Cards

Ride hailing company Grab has reportedly has announced its plans to introduce virtual pre-paid debit in collaboration with Mastercard. This move is the biggest digital payment push in Southeast Asia to date. The particular deal will witness its Grab Pay business offer Grab’s 110 million registered users the option to use a virtual Mastercard to make payments both online and in-person. With this partnership, the users will be able to use physical Grab Pay cards or virtual ones, the latter being a card number, expiry date, and other details that are held within the Grab app. “We see Grab Pay as a glue that goes across all the products we offer, and rewards our users for using them,” Reuben Lai, senior managing director at Grab Financial said. “Grab Pay users spend two times more than ...