Myntra pilots enter quick commerce with ‘M-Now’ in select locations of Bengaluru

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November 23, 2024

Myntra, a lifestyle e-commerce platform backed by Flipkart, is testing a quick delivery (quick commerce) service called “M-Now” in select Bengaluru areas. This pilot program ensures delivery within two hours in specific pin codes and offers a limited range of products. The company is running this test to evaluate its performance and customer response.

Based on the pilot’s insights, Myntra plans to expand the service to more locations. In 2022, the company introduced “M-Express,” an express delivery option in metro cities that promises delivery within 24-48 hours of order placement.

“We launched M-Express earlier, towards enhancing the customer-experience with regard to speed and have been experimenting with a pilot for faster delivery in a select few pincodes. We will look at expanding it further based on the insights gained, before launching it formally,” a Myntra spokesperson told PTI.

As quick commerce grows, many platforms are adding beauty and fashion categories. However, Myntra stands out as one of the first dedicated fashion platforms to explore this segment with M-Now.

Myntra enjoys a loyal customer base of about 40 million annual buyers. Its operational revenue also saw impressive growth, rising by 25% from ₹3,501 crore in FY22 to ₹4,375 crore in FY23.

H&S expands retail footprint with new flagship store in Bangalore

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November 23, 2024

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Bangalore, November 2024 – H&S, the prestigious leather brand under KH Group, announces the launch of its new flagship store in Bangalore. Located on Richmond Road, this store marks a significant milestone, underscoring the brand’s mission to bring premium-quality leather craftsmanship to discerning Indian consumers.

The 1,500-square-foot flagship store offers an exquisite selection of leather products, including shoes, bags, belts, wallets, men’s jackets, small leather accessories, and more. Each product reflects the brand’s commitment to quality, crafted from carefully selected leather known for its superior texture, durability, and vibrant hues.

Designed to be more than just a retail space, the flagship store is an immersive experience. The thoughtfully curated layout creates an intimate shopping environment, bringing H&S’s legacy to life. Customers can explore the brand’s craftsmanship, artistry, and heritage in a setting that truly complements the quality of its products.

Mr. Abdul Wahab, Managing Director, H&S, said, “We are thrilled to announce the opening of our first standalone store in Bangalore, and we have high hopes from the market. Building on the success we’ve achieved so far, our commitment remains unwavering. Our vision is to become the ultimate destination for bespoke shoe needs, setting new standards in quality and style. This store is not just about growing our presence; it’s about providing an elevated shopping experience with personalized service.”

With a strong retail presence across major cities such as Chennai, Mumbai, Hyderabad, Delhi, Ahmedabad, Pune, Chandigarh, and Vijayawada, H&S continues to expand its footprint in India. The opening of the Bangalore store highlights the brand’s unwavering commitment to delivering world-class products while broadening its reach in a rapidly growing market.

Founded in 2009, H&S emerged from the KH Group’s decades-long expertise in crafting premium leather products for leading European and American brands. The new flagship store in Bangalore strengthens the brand’s vision of blending international quality with Indian sensibilities, creating timeless pieces for modern lifestyles.

To experience and shop at H&S, visit the store located at H&S, 105, Globe House Building, Ground Floor, Richmond Circle, Bengaluru.

About H&S

H&S Handmade Customised Leather Shoes and Products, a venture of the prestigious KH Group, represents excellence in premium leather craftsmanship. With a rich legacy spanning 75 years, the KH Group stands as one of Asia’s largest tanneries, employing over 15,000 skilled professionals. Trusted by leading international luxury brands for manufacturing premium leather products, the Group brings this world-class expertise to the Indian market through H&S. The brand combines traditional leather craftsmanship with contemporary styling to deliver bespoke leather products that meet international quality standards.

For more information, visit the website: https://hnscraftsmanship.com/

Intrepid Travel inducts 15 female tour leaders into India team

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November 21, 2024

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Intrepid Travel, a leading adventure travel company based in Australia, has taken a significant step towards gender diversity. This year, the company hired 15 female tour leaders for its India team, increasing the total number of female leaders to 32. With this addition, women now make up 40% of Intrepid India’s leadership team. The company emphasized its commitment to building a diverse workforce and empowering women in the travel industry. This move also highlights their dedication to advancing gender equality.

Speaking about the hirings, Rama Mahendru, country general manager-India, Intrepid Travel, said, “Female tour leaders serve as role models, inspiring other women to pursue careers in the travel and tourism industry. A balanced team of male and female leaders improves customer service and caters to a broader range of client needs. Having female tour leaders can make female travellers feel more comfortable and secure, encouraging more women to travel. Also, we want to bring out the importance of inclusivity in the workforce. We would love to make the rate of 50:50 female and male by 2025.”

Offering sustainable and immersive travel experiences across all seven continents, Intrepid Travel connects travelers with local communities for enriching journeys. According to recent reports, India’s adventure tourism market is rapidly expanding and is projected to exceed USD 2 billion by 2028. With this growth, India is becoming a top destination for adventure travelers from around the globe.

This year, Intrepid Travel India reached its ambitious goal of having 40% female and 60% male leaders. The company aims to achieve a 50:50 gender balance among tour leaders by 2025. This milestone underscores their commitment to providing equal opportunities for women and fostering inclusivity in the travel industry.

The newly appointed female tour leaders come from various regions across India. These include Rajasthan, Uttarakhand (Haldwani, Dehradun), Delhi/NCR, Assam (Guwahati), Nagaland, Karnataka (Mangalore), Maharashtra (Mumbai), Darjeeling, Tamil Nadu (Madurai), and Kerala (Alleppey).

Snowflake lifts product revenue forecast, enters AI deal with Anthropic

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November 21, 2024

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Snowflake raised its annual product revenue forecast on Wednesday and announced a collaboration with AI firm Anthropic. This partnership aims to enhance its cloud services, boosting Snowflake’s shares by nearly 19% in after-hours trading.

Enterprises are increasingly adopting Snowflake’s data cloud to organize vast amounts of data using AI-driven services. This trend highlights the growing demand for smarter, AI-powered data solutions.

Snowflake, like Salesforce and Microsoft, is advancing its artificial intelligence capabilities. The company is using its Snowflake Intelligence platform to develop autonomous agents. These agents, often seen as the next step beyond copilots, can handle repetitive tasks efficiently.

Through its multi-year collaboration with Anthropic, Snowflake will empower customers to build and refine their AI applications. Anthropic’s large language models will help enhance these capabilities.

With this technology, Snowflake’s AI agents will not only analyze data but also create detailed visualizations.

“Our partnership with Snowflake enables enterprises of any size and industry to access our most advanced models within their secure data environment,” said Michael Gerstenhaber, vice-president of product at Anthropic.

Analysts are closely monitoring how Snowflake’s new CEO plans to transform the company into a leading AI software firm. This shift comes as competition in the AI space intensifies.

Snowflake raised its product revenue forecast for 2025 to $3.43 billion, up from $3.36 billion. For the fourth quarter, it expects product revenue between $906 million and $911 million, exceeding analysts’ predictions of $884.5 million, according to LSEG data.

In the third quarter, Snowflake reported a total revenue of $942.1 million, surpassing the expected $897 million. The company’s product revenue also beat forecasts, reaching $900.3 million. Adjusted earnings were 20 cents per share, higher than the predicted 15 cents.

OneCell Diagnostics raises $16M in Series A round

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November 21, 2024

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OneCell Diagnostics, a leading genomics-based precision oncology company, has raised $16 million in an oversubscribed Series A funding round. Celesta Capital led the round, with additional support from Tenacity Ventures, Cedars Sinai, Eragon, and Singularity Ventures. This funding aims to make cancer diagnostics more accessible, actionable, and affordable. Notably, Celesta Capital’s Founding Managing Partner, Michael Marks, and Nobel Laureate Dr. James Rothman will join OneCell’s board, marking a significant step in its journey.

OneCell has created advanced liquid biopsy technology that redefines cancer screening. Using its proprietary Circulating Tumor Cell (CTC) and True-Single-Cell-Multi-omics platform, the company provides solutions for clinical cancer care and biotech clinical trials. Unlike traditional methods, their platform integrates CTC-DNA, CTC-RNA, and cell surface protein testing from a single blood sample. This breakthrough offers a more comprehensive and efficient approach to liquid biopsies.

“We see a future where everyone has access to high-quality, life-saving cancer testing and this funding is a powerful validation of our vision,” said Mohan Uttarwar, CEO and Co-founder at OneCell Diagnostics. “By integrating our single-cell multi-omics analytics with next-generation liquid biopsy approaches, we have the opportunity to break new ground in delivering accurate, personalized cancer care worldwide.”

With Series A funding, OneCell plans to launch its next-gen liquid biopsy test, OncoIndx Ikon, in the U.S. This test identifies and analyzes CTC biomarkers to support precision cancer diagnosis and treatment. It aids in tracking treatment responses, monitoring disease progression, and identifying recurrence. OneCell has already tested nearly 10,000 patients in India, proving its technology is safe, effective, and scalable for labs worldwide. Strategic partnerships with renowned institutions like Harvard Medical School and Stanford University further highlight its global reach.

“Celesta is excited about differentiated companies sitting at the intersection of high tech and biomedical science, and OneCell fits this mold perfectly,” said Michael Marks, Founding Managing Partner at Celesta Capital. “By leveraging the strategic benefits of the U.S. – India corridor, OneCell is well-positioned to continue building competitive advantages. We pride ourselves on being active value-add investors, and Celesta will tap our ecosystem to support their growth wherever possible.”

“I’m looking forward to joining the OneCell Board at such a pivotal time in the arc of innovation for cancer treatment,” said Dr. James Rothman, Nobel Laureate and Celesta Capital Advisor. “Cell biopsy represents a groundbreaking shift in how we approach diagnostics, creating more opportunities for highly individualized care. This technology has the potential to reshape the oncology landscape, and we are eager to support OneCell’s bold mission to reach more than 1000 oncologists and 1 million patients in the near future.”

According to the World Health Organization, cancer affects over 20 million people annually, with 53.5 million survivors within five years of diagnosis. As cancer evolves at the molecular level, biomarker testing becomes crucial for precision treatment. OneCell’s technology ensures timely detection of molecular changes, enabling early interventions and improving treatment outcomes.

EcoRatings gets SEBI license to provide ESG ratings to financial securities

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November 20, 2024

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EcoRatings Fintech Solutions, a branch of EcoRatings Software Solutions, has secured a SEBI license to provide ESG ratings. With this approval, the company can now deliver ESG ratings for listed and upcoming financial securities, as well as the issuing companies.

This move will help EcoRatings empower investors to identify and reduce risks associated with environmental, social, and governance factors. As a result, investors can safeguard their investments from potential negative impacts.

ESG ratings offer crucial advantages to companies striving for sustainable growth. They facilitate access to green loans with lower interest rates and provide competitive pricing that boosts revenue. Moreover, these ratings enhance a company’s chances of securing government incentives for sustainability initiatives.

With strong ESG ratings, businesses can stand out in the market, grow their export opportunities, and gain easier access to markets like the US and EU, where sustainability measures are highly valued.

Commenting on this Aqeel Ahmed, Director EcoRatings said, “EcoRatings is an established leader in providing ESG ratings for products and services. Uniquely positioned, EcoRatings leverages a fully AI-driven technology approach to calculate ESG ratings, making it likely the only company in India with this capability. The recent SEBI registration marks a significant advancement for the corporate and financial services sectors, enabling clients to access transparent and precise ESG ratings for their organizations as well as their listed and about-to-be listed financial securities. ESG ratings are becoming vital tools for assessing and managing risks across stakeholder groups. Companies can utilize ESG ratings to attract value-driven investments, aligning their strategies with the growing emphasis on sustainability in today’s business landscape.”

EcoRatings integrates top global and local ESG frameworks into its rating system. This approach helps businesses evaluate and improve their ESG performance effectively. By adopting these ratings, companies can align with global ESG standards, showcasing their commitment to sustainable practices. This alignment not only strengthens their brand reputation but also provides a competitive edge in both domestic and international markets.

Taqtics raises $1.2M in a seed fundraise

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November 20, 2024

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Taqtics, a SaaS platform, has secured $1.2 million in seed funding. The investment was led by Sprout Venture Partners and Capital-A, with Java Capital also participating.

The company plans to use the funds to enhance its product features, expand its footprint in key markets, and integrate AI-driven analytics for smarter solutions.

Founded by Yuyutsu Sharma, Taqtics simplifies store management with an all-in-one toolset. Managers can perform real-time store audits to ensure compliance and track improvements effectively. The platform also streamlines employee training and SOP management, ensuring smooth onboarding and adherence to company standards.

“With this funding, we are doubling down on innovation, including leveraging AI and automation to simplify retail operations,” said Yuyutsu Sharma, Co-Founder of Taqtics. “Our mission is to digitally transform how retail and QSR brands manage their day-to-day operations across locations.”

Taqtics enhances visual merchandising by enforcing brand guidelines effortlessly. It offers efficient asset management to maintain store assets and optimizes their use. Additionally, the platform includes an issue-tracking system to resolve challenges, improving operational performance quickly.

Capital-A, a key investor, focuses on driving sustainability and economic growth. With its second fund aiming for a corpus of ₹400 crores, the firm has supported over 20 innovative startups, including Jiraaf, Rooter, Bambrew, Riskcovry, and Tan90.

Ankit Kedia, Founder and Lead Investor at Capital-A highlighted the platform’s relevance, stating: “Taqtics has built a solution tailored to the unique needs of the retail and QSR industries. As these sectors evolve, vertical AI-driven tools like Taqtics will play a vital role in scaling operations efficiently. We are thrilled to partner with them in this journey.”

Sahil Gupta, Partner at Sprout Venture Partners, added: “The pressure to ensure operational consistency across numerous locations is immense. Taqtics provides an innovative solution that simplifies oversight while driving efficiency. We look forward to supporting their growth into major markets.”

Doodhvale Farms raises $3M from Atomic Capital

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November 20, 2024

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Doodhvale Farms, a trailblazer in India’s premium dairy market, has successfully raised $3 million in its latest funding round. Atomic Capital led this round, while Singularity Early Opportunities Fund joined as a key co-investor.

Additionally, Bharat Founders Fund and Indigram Labs Foundation participated alongside prominent angel investors such as Ramakant Sharma (Co-Founder, Livspace), Ankit Tandon (CBO, OYO), Saurabh Jain (CEO, Livspace), and Arjun Vaidya (Co-Founder, V3 Ventures). These industry leaders bring valuable expertise to Doodhvale Farms.

The company continues to achieve remarkable milestones, recording 100% year-over-year growth, sustained profitability on an EBITDA basis for three years, and the launch of innovative products like Gaon Jaisa Safed Makkhan, 100% Pure Milk Khoya, and Desi Treats. These achievements showcase Doodhvale Farms’ commitment to quality and innovation.

“This strategic investment marks a significant milestone in our journey to revolutionize India’s dairy industry,” said Aman J Jain, CEO and Co-founder of Doodhvale Farms. “With this funding, we are poised to expand our reach and enhance our commitment to delivering pure, farm-fresh dairy products to Indian households.”

The new funding will help Doodhvale Farms expand rapidly, enhance its distribution channels, diversify its product offerings, and modernize its technology infrastructure. This strategic use of capital aims to boost their presence and efficiency in the competitive dairy market.

Atomic Capital, a consumer-focused early-stage fund, played a pivotal role in this funding round. Led by Apoorv Gautam, Founder, and Managing Partner, the fund leverages a unique operating VC model and boasts a strong record of successful exits in the consumer sector. Their expertise positions them as ideal partners for scaling emerging brands like Doodhvale Farms.

Commenting on the partnership, Apoorv shared his vision: “We are thrilled to partner with Doodhvale Farms on their ambitious journey to bring world-class quality milk and allied products to India. As one of India’s first vertically integrated online subscription platforms for these products, Doodhvale Farms has demonstrated exceptional capital efficiency.”

Suyash Kela from Singularity Early Opportunities Fund, the round’s major co-investor, added, “Premiumization of large consumption categories like F&B is a theme we are very bullish about. Doodhvale Farms, with its premium, unadulterated milk and allied products offering, strong hold on the supply chain, and founders with their feet and ear to the ground, really appealed to us.”

PeLocal raises $2M funding led by Unicorn India Ventures

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November 19, 2024

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PeLocal raises $2M funding led by Unicorn India Ventures — Vivekanand Tripathi, founder & CEO, PeLocal

PeLocal, a leading payment solutions provider, has secured $2 million in funding. Unicorn India Ventures led the funding round, boosting the startup’s mission to simplify e-commerce transactions via WhatsApp.

Over the past year, PeLocal increased its monthly transactions from 500,000 to three million. Now, it targets reaching 10 million transactions within the next 12 months.

The Chennai-based company plans to launch a marketing catalog and a dedicated payments platform for small businesses directly on WhatsApp.

“This is our maiden institutional funding…the deep expertise and strategic insights of Unicorn’s leadership will be invaluable as we continue to build on our growth momentum,” said Vivekanand Tripathi, founder of PeLocal.

Established in 2021, this fintech startup delivers seamless payment solutions through WhatsApp. It serves prominent clients like Delhi Metro, Indraprastha Gas, and Mahanagar Gas. Additionally, insurance companies use its platform to collect premiums. Tracxn data reveals PeLocal raised $1 million in seed funding in 2022.

“While the digital payment solutions are growing, there is still a need for a unique and simple digital payment solution for micro payments on the fly, which is what PeLocal is enabling through the WhatsApp platform,” said Anil Joshi, managing partner at Unicorn India Ventures.

Moving forward, the startup aims to expand WhatsApp-based payment services to cover ticketing and utility bill payments, addressing evolving customer needs.

FOSTIIMA Conducts 3- Days Faculty Development Programme; Faculties from JIMS, GIBS, and Arun Jaitley National Institute of Financial Management Participates

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November 19, 2024

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Delhi, 19 Nov 2024: FOSTIIMA Business School, the renowned B-School in Delhi, hosted a 3-day Online Faculty Development Programme on “Leveraging Analytics for Strategic Business Management.” This programme aims to empower faculty to integrate data-driven insights into their teaching and research, which helps them to utilize their advanced knowledge and skills for strategic decision-making in business management.

In this 3-day programme from 12-14 November 2024, faculties from JIMS, GIBS, and Arun Jaitley National Institute of Financial Management get an overview with a combination of hands-on workshops, case studies, and interactive sessions on the fundamentals of analytics, data visualization and interpretation, and advanced analytics techniques to enhance their teaching effectiveness and student engagement in business management.

On the first day of the programme, an insightful session was conducted around Text Sentiment Analysis and HR Job Description. Dr. Saumendra Mohanty, Consultant Data Science & AI Trainer & Professor, and Prof. Saloni Srivastava shared JD Matching with Orange and Python, a case study on hotel reviews, and an introduction to prompt engineering.

On the second day, the session started with Data Visualisation & Interpretation. Mr. Mohit Aggarwal, IBM Certified Trainer & Power BI specialist, and Dr. Neetu Kamra, IBM Certified in Descriptive Analytics, Predictive Analytics & Design Thinking, shared insights on Visualisation with Power BI and Visualization with Cognos.

On the last day of the programme, there was a session on Introduction to Gen AI LLM Sentiment where Ms. Neha Issar, Assistant Professor IBM Spark & Scala Certified, shared an Analysis Case Study with Gen AI with Python and provided IBM Certification to the workshop participants. The event was convened by Prof. (Dr.) Subhash Kakkar, Prof. (Dr.) Ruchika Yadav, and Dr. Sweety G. Chhabria.

On successfully organizing the programme and thanking all the attendees and guests, Mr. Anil Somani, Chairman, FOSTIIMA Business School-Delhi, said, “We are thrilled to partner with IBM to offer this amazing 3-day Faculty Development Programme. At FOSTIIMA, Our mission is to equip young managers with the skills to tackle challenges on the international stage while upholding high standards of education, ethics, integrity, and discipline. To achieve this, it becomes important for faculty to equip themselves with the latest skills, knowledge, and methods. To bridge the gap between academia and industry, we aim to empower our faculty to deliver a world-class education to prepare our students for the future. This initiative is a testament to our dedication to fostering innovation, excellence, and lifelong learning. It’s a matter of pride for us that today, the academic excellence of FOSTIIMA Business School partners with IBM for this Faculty Development Programme. I thank academicians and academic institutions for participating in the FDP here and sharing their invaluable experiences.”

This Faculty Development Programme is a significant step towards equipping educators with the necessary skills and knowledge to leverage analytics and advanced technology in their teaching to make it more engaging for their students.

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