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Certus Capital to invest Rs 1,000-Cr in real estate through secured credit

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BRL Editor
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Certus Capital, an institutional real estate investment and advisory firm, plans to invest Rs 1,000 crore in the Indian real estate sector through secured credit in the next year, according to a company executive. 

The firm, founded by former KKR director Ashish Khandelia, has invested close to Rs 400 crores through its secured bond platform, Earnnest.me. They expect to close the year with total investments surpassing Rs 500 crore. 

Since its inception in 2018, Certus Capital has guided institutional investors in Indian real estate investments totaling nearly Rs 10,000 crore. Now, the focus is on their platform, which was initiated two years ago.

“We believe it is imperative for India to develop its bond markets to achieve the true potential of our economy. And it is even more important for capital-intensive sectors such as real estate. Through Earnnest, Certus Capital is playing the role of a market maker for real estate debt capital markets,” Khandelia said.

Certus Capital recently invested Rs 130 crore in two Pune-based commercial real estate projects by realty developer Mittal Brothers through its secured bonds platform. 

This investment, in the form of secured debentures, is projected to yield approximately 15% fixed returns with substantial principal cover from underlying cash flows. The combined revenue potential of both projects is estimated at Rs 800 crore.

The first project, located on Fergusson College Road and spanning 260,000 sq ft, is well underway. Certus is providing last-mile funding for this project, which has garnered substantial sales and leasing interest. Nearly 80% of the space is already sold or leased, with operational retail levels featuring brands like Pantaloons, McDonald’s, Max, and Nonna’s pizza chain.

The second project on Bundgarden Road covers an acre of land with a development potential of 300,000 sq ft. This represents an early-stage investment aimed at supporting land-related activities and approvals.

“The deal pipeline is strong and the property market is performing well across segments, propping up confidence in the sector. The latest investment in Pune is in line with our aim to invest Rs 500 crore in the current financial year,” Khandelia said.

In January, Earnnest.me successfully exited its debut investment in the affordable housing sector, achieving a net return of 16.1% – a year earlier than the scheduled maturity. The robust performance of the project facilitated this early exit.

The platform has strengthened its presence in Mumbai’s Prabhadevi by acquiring the remaining 50% stake in a premium boutique residential project from realty developer EON Group. Additionally, Earnnest.me has reinvested in a residential project in Chennai, leveraging its exclusive deal access.

Earnnest.me is committed to democratizing access to high-quality investment opportunities, making them financially accessible for individuals, and contributing to increased returns with a focus on risk mitigation.

The Journey of #BElieve Natural and Satyam’s Vision for a Sustainable Future

By
Kanika Mahtoliya
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Mr. Satyam Mishra, CEO of #BElieve Natural

I firmly believe in the mantra that ‘quick action is the secret of quick success,” professes Mr Satyam, the visionary force behind #BElieve Natural

In the dynamic world of entrepreneurship, where passion meets purpose, Mr. Satyam stands as a beacon of inspiration with his startup, #BElieve Natural. The journey embarked on is a testament to the transformative power of combining personal passion, market demand, and a commitment to positive change. 

According to the most recent National Family Health Survey (2020-21), more than 30 per cent of women between the ages of 15 and 24 do not use hygienic methods of protection during their menstrual period. This distressing statistic underscores the pressing need for accessible and sustainable menstrual hygiene solutions across the country. #BElieve Natural, founded by Mr Satyam, emerges not just as a business venture but as a catalyst for positive change, aiming to bridge the gap in awareness and availability of eco-friendly menstrual products.

Mr. Satyam is the driving force behind #BElieve Natural, a startup that is not just about products but a movement towards women’s empowerment and sustainability. His journey inspires and urges the youth to chase their dreams with tireless determination.

The inception of #BElieve Natural:

The inception of #BElieve Natural was driven by Satyam’s unwavering belief in the three pillars of business success: skill, passion, and market demand. His journey began with a profound passion for social causes, particularly girls’ empowerment and menstrual hygiene.  In a world where taboo still surrounds menstruation, he took a bold step to address the market gap in biodegradable sanitary pads. Satyam introduced bamboo fiber pads, fueled by a desire to address the market’s lack of biodegradable sanitary pads. He didn’t stop there; he ventured into educational institutions, breaking the silence surrounding menstruation through awareness sessions.

Milestones and Challenges:

The path to success is rarely smooth, and #BElieve Natural faced its share of challenges. The journey was like a rollercoaster ride from initial investment setbacks to legal hurdles and struggles in finding reliable vendors. Yet, Satyam and his dedicated team faced these challenges head-on. Learning from rejection in sales, they adapted strategies, emphasizing persistent outreach and prioritizing product quality. The challenges became stepping stones rather than stumbling blocks.

From #BEing Natural to  #BElieve Natural

The transition from #BEing Natural to #BElieve Natural wasn’t just a name change; it was a testament to Satyam’s ability to adapt and evolve. The evolution from #BEing Natural to #BElieve Natural reflects Satyam’s agility in response to challenges. Quick action in the face of trademark issues led to a rebranding, aligning with his belief that swift decisions are the secret to quick success. This adaptability showcases the importance of maintaining internal vision and thinking beyond the constraints of external challenges.

Promoting Sustainability and Breaking Stigmas:

The emotional connection with #BElieve Natural is akin to Satyam’s family bond. While emotions play a role, decisions are made with a strategic mindset. This balance allows him to navigate the day-to-day responsibilities of running a thriving enterprise while staying true to the commitment to positive change.

Satyam’s leadership in the menstrual hygiene industry is marked by a commitment to sustainable and eco-friendly solutions. Through product innovation, education, collaboration with NGOs, recycling programs, community engagement, and advocacy, #BElieve Natural aims to dismantle societal stigma while contributing to a greener future. 

Future Vision for #BElieve Natural:

Looking ahead, #BElieve Natural envisions expanding its impact by incorporating sustainable practices, broadening product lines, and fostering community engagement. Satyam’s vision extends beyond entrepreneurial pursuits, aiming to create positive change by prioritizing environmental responsibility and social well-being.  In a conversation with Business Review Live, Satyam said,  “#BElieve Natural aims to expand its impact by incorporating sustainable practices, broadening product lines, and fostering community engagement. Our future goals include reducing our carbon footprint, launching innovative eco-friendly products, and collaborating with like-minded organizations. We’re committed to creating positive change by prioritizing environmental responsibility and social well-being in all our entrepreneurial pursuits.

In conclusion, Satyam’s journey is not just a business success story; it’s an anthem for the youth. It exemplifies the transformative potential of combining passion, market demand, and a commitment to positive change. He said, “#BElieve Natural is on a mission to break stigmas while contributing to a greener future”. His story is a beacon for those who believe in the power of entrepreneurship to drive positive change. Running a startup is no small feat, but Satyam has found the balance between commitment and business.

As he continues to lead his startup toward a sustainable future, his story inspires aspiring entrepreneurs and social and environmental well-being advocates.

Hospitality brand Quorum Club raises pre-Series A funding led by Gruhas 

By
BRL Editor
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Sonya Jehan Narain and Vivek Narain, founders of The Quorum Club

Quorum Club, the lifestyle hospitality brand, recently secured an undisclosed sum in a pre-series A funding round. This funding was led by Gruhas, an investment firm co-founded by Nikhil Kamath, Zerodha’s co-founder, and Abhijeet Pai, president of the Puzzolana group, a construction equipment manufacturer.

Other investors participating in the funding round include Alok Oberoi, Gurmeet Nihal Singh, Sabre Advisors, Shon Randhawa, Sattva Group, and Karanpal Singh.

In a statement, Quorum Club revealed that Gruhas now holds a 5% stake in the brand following this investment.

Vivek Narain and his wife, Sonya Jehan, established the Quorum Club in 2018. The brand manages three distinct offerings: Quorum, a members-only club with a subscription model; District 150, a venue for meetings and events; and Business Quarter, a coworking space.

Presently, Quorum Club operates in Gurgaon, Hyderabad, and Mumbai. The ambitious plan is to broaden its presence by launching 6-7 additional branches in cities such as Bengaluru, Goa, and Delhi within the next five years.

Quorum Club, boasting a membership base of approximately 2,800 individuals, caters to high-profile entrepreneurs and C-suite executives. Looking ahead, Quorum aims to broaden its member demographic to include social media influencers and individuals from creative fields.

“Our target membership is a cross-section of society. We want interesting people doing interesting things like young entrepreneurs, professionals in the creative field, chairman of companies… it’s not just a CEO’s club or a C-suite club,” Narain said. 

Quorum Club imposes a one-time joining fee ranging from Rs 4 lakh to Rs 5.5 lakh, coupled with an average annual fee of about Rs 1.5 lakh. These fees vary based on different categories and cities. Over the past two-and-a-half years, the club has achieved an impressive top-line growth of 70% to 80%. Vivek Narain anticipates this positive momentum to continue into 2024 and 2025.

In collaboration with Mumbai-based creative talent management firm Collective Artists Network, Gruhas has initiated a Rs 150-crore fund. This fund aims to support 10-15 consumer startups in fashion, lifestyle, and others.

After the Covid-19 pandemic, paid community platforms and networks in India have gained traction. Examples include Offline, launched by angel investor Utsav Somani, and Leap Club, a social platform for women professionals.

AuthPay raises $450K in pre-seed funding round

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BRL Editor
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AuthPay, a fintech startup, has obtained $450K in a pre-seed funding round led by SCOPE VC.

The funding will fuel its growth, allowing AuthPay to harness technologies and innovative business models in the fintech sector, according to a press release by AuthPay.

Founded in July 2020, AuthPay offers secure payment solutions for global businesses, using advanced technology and a customer-centric approach. The platform helps businesses simplify transaction processing, boost security, and provide smooth payment experiences to customers.

AuthPay, a smart wallet, maximizes rewards for each purchase by utilizing its patent-pending AI. The AI suggests the most suitable card based on factors like merchant type, location, and loyalty programs.

SCOPE, an exclusive networking platform, links startups, investors, and industry experts globally. This investment in AuthPay aligns with SCOPE VC’s recent introduction of a $45 million venture capital fund focused on driving innovation in fintech and gaming sectors.

Wenhao Yang, Co-founder, AuthPay said, “We were introduced to Saikiran through a mutual connection, and from our very first meeting, we were impressed by his profound insights into the payment industry. What truly stood out was his alignment with our vision for AuthPay to become the future gold standard in mobile payment solutions. Even before committing to invest in our pre-seed round, Saikiran and SCOPE have been integral to our journey, offering invaluable support by facilitating key introductions and providing feedback on our pitches and storytelling.”

Atmosphere Core adds Raaya to take Maldives portfolio to nine

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BRL Editor
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Atmosphere Core, an international hospitality company, is expanding in South Asia by managing Kudakurathu island in Raa Atoll, Maldives. The resort, soon to be called ‘RAAYA BY ATMOSPHERE,’ is set to open on July 4, 2024, marking the third Atmosphere Hotels & Resorts island in the Maldives and the ninth globally.

Since its first property’s launch in December 2013, Atmosphere Core, the parent company, has become known for excellent service, groundbreaking culinary concepts, and innovative experiences. This has firmly established the group’s properties as a trusted premier choice in the Maldivian hospitality sector.

Salil Panigrahi, Managing Director of Atmosphere Core, states, “As our group continues at pace with ambitious strategic plans, by adding ‘RAAYA BY ATMOSPHERE’ to our growing portfolio in the Maldives, aims to further enhance our Atmosphere Hotels & Resorts brand position of ‘…A New Experience Awaits’. Providing even more choices for our guests, we will include curating a signature RAAYA™ Holiday Plan that blends in all the elements of a tropical island escape. These elevated guest experiences will be delivered with an unparalleled level of service at every touch point. I am confident that our group’s ‘Joy Of Giving’ ethos will resonate with discerning global travellers and ensure remarkable success.”

Easily reachable with a 45-minute seaplane flight from Velana International Airport, ‘RAAYA BY ATMOSPHERE’ is a haven where 88 percent is dedicated to lush greenery, leaving only 12 percent for living space. This showcases the island resort’s commitment to ecological harmony and natural beauty.

The resort boasts 167 beach and ocean villas, with six diverse dining options blending local tradition and global cuisine. It offers an adventure-filled experience, including water sports, diving, a kids club, an art and craft studio, a serene mangrove walkway, a playful mini-golf course, three stargazing watchtowers, and a spa immersed in nature’s tranquility. Guests are welcomed to a memorable escape, enriched by the vibrant heritage of the local culture.

Mr. Ranjit Batra, President, Hospitality of Kudakurathu Island Resort Pvt. Ltd. to which the island is owned, added, “Kudakurathu is a captivating island that combines the untouched beauty of the Maldives with innovative design and is set to create a distinctive destination.”

Credit platform BlackSoil raises Rs 100-Cr in equity funding 

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BRL Editor
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Ankur Bansal, cofounder and director, BlackSoil

BlackSoil, the main entity of BlackSoil Group in the alternative credit space, has secured Rs 100 crore in equity funding through a rights issue. Existing Indian investors and family offices actively participated in this funding round.

With this capital infusion, BlackSoil aims to improve its credit profile and boost its borrowing capacity. Ankur Bansal, the co-founder and director, emphasized the strategic utilization of the funds for these purposes.

“This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space,” Bansal said. 

BlackSoil provides alternative credit solutions to various growth companies, financial institutions, non-banking financial companies (NBFCs), and micro, small, and medium enterprises (MSMEs).

Backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors, BlackSoil NBFC has experienced its fourth capital infusion in the past eight years. 

This latest round brings the total equity raised to over Rs 250 crore. Additionally, the company has secured debt funding exceeding Rs 1,700 crore from high-net-worth individuals (HNIs), banks, and other NBFCs.

According to the platform, it experienced a 30% year-on-year growth in its assets under management (AUM) last year. The firm’s investments also saw a similar surge, reaching a 30% year-on-year increase. It deployed Rs 1,650 crore across 63 deals while exiting from more than 20 deals within the same year.

BlackSoil has invested in various ventures, including Upstox, Slice, Mobikwik, Udaan, Infra Market, Zetwerk, Oyo Rooms, and Spinny & Purplle.

In 2023, its portfolio companies collectively raised $800 million in equity. Notably, three of its portfolio companies—Yatra, ideaForge, and Cellecor—were listed on the stock exchange in the same year, as stated by the platform.

From Bootstrapped Beginnings to Global Heights: The CouponzGuru Saga

By
Amala Sree Murali
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CouponzGuru, established in 2011 and originating in India, is a top global coupons aggregator. It leads in terms of total traffic, subscribers, and brand collaborations.

The website houses a plethora of promo codes, discount deals, and offers from various brands and marketplaces spanning diverse product categories. It emerged during the infancy of India’s e-commerce industry, addressing the challenge of finding digital discount coupons for online shoppers. This solution significantly contributed to the company’s immense success.

CouponzGuru attracts monthly unique traffic of 2 million to its website and boasts collaborations with over 3000 brands. Remarkably, the company remains bootstrapped, relying on its resources for funding. Actively engaging with its audience, CouponzGuru maintains a strong presence on social media platforms such as Facebook, Instagram, Telegram, and LinkedIn. Furthermore, the company has successfully expanded its international footprint, establishing a presence in the USA, UAE, Singapore, Malaysia, and the Philippines.

In 2011, the brand started with a modest investment of Rs 25,000. Over the years, it has evolved into a multimillion-dollar brand, thanks to the founder’s vision and a dedicated team turning that vision into reality. The company boasts notable affiliate partnerships with brands like Amazon, Myntra, AJIO, Flipkart, and Croma.

Mr. Vikash Khetan, the visionary behind CouponzGuru, aimed to assist millions in saving money on online transactions. With foresight, dedication, and proactive efforts, he established a globally recognized brand.

Coming from an IT background and having worked in the field initially, Mr. Khetan encountered high flight ticket prices without any discount system. This prompted him to conceive a platform aggregating digital coupons. Fast forward 13 years, CouponzGuru is a renowned brand poised for global expansion.

The company boasts a committed team, some members having been part of it since the beginning. This dedicated team plays a crucial role in the company’s growth, particularly the coupon and deals team, ensuring the authenticity of all coupons on the website through manual verification.

Remaining relevant and staying competitive requires proactive measures and leveraging current digital trends. This coupon aggregator exemplifies proactiveness in digital marketing, brand collaborations, and technological adaptation, contributing significantly to its global success.

In the past decade, the tech world has witnessed significant innovation, and this company has embraced the latest technology to enhance its day-to-day operations, delivering top-notch products and services. The company has invested in data analytics to offer personalized coupons and deals based on individual purchasing patterns. Building customer rapport through relationship marketing has been a successful focus.

The company has strategically employed search engine marketing and search engine optimization techniques, staying ahead in the digital marketing game. Incorporating digital marketing and content marketing strategies has consistently driven unique traffic to the company’s website.

On this coupons aggregator website, one can discover digital coupons spanning a wide range of products and services, from travel and flights to food and fashion. Each sector features multiple brands. Furthermore, the company’s business development team actively seeks to add new online stores to the website daily.

Understanding that brands and digital coupons vary from one country to another, CouponzGuru operates distinct websites for each country it serves. This approach enables the company to list country-specific and customer-specific digital coupons, attracting local visitors to the website more effectively.

The Global Journey

The initial international expansion for this website took place in 2014 when the company, having succeeded in its home country, decided to explore business opportunities in Singapore. Leveraging curated deals and offers, the company successfully penetrated the Singaporean market, securing a substantial market share. Notable stores like Asus, Clavin Klein, Lenovo, Zalora, and others joined the company.

Following the success in Singapore, the coupon aggregator set its sights on Malaysia in 2015, encountering a market behavior similar to that of Singapore. The company swiftly established a presence in the Malaysian market through dedicated efforts. Well-known stores like Zalora, Trip.com, Lenovo, Ubuy, and more became part of the Malaysian website.

Despite being a lucrative and competitive market, CouponzGuru has excelled in the UAE. The UAE websites feature international brands and showcase numerous regional brands, ensuring significant traction. Stores such as Noon, Namshi, Ounass, Carrefour, Sharaf DG, Storeus, and Amazon are well-known brands listed on the UAE website.

In 2020, the company expanded its reach to the USA and the Philippines. This expansion marked a significant step in deepening its presence in the digital couponing business. Notable stores featured on the USA website include JungleScout, PatPat, Speechify, Geekbuying, and more. Meanwhile, the Philippines’ website showcases renowned brands like Airalo, AliExpress, OYO, Nike, and others.

A success story doesn’t unfold daily, especially one crafted from the ground up. It requires years of unwavering dedication, a string of setbacks, continuous learning, and an attitude of never giving up to shape a global brand. CouponzGuru is a true inspiration for those who believe in achieving their life goals. With its profound understanding of the coupons market in India, this company serves as a classic example of how a bootstrapped endeavor can evolve into a triumphant global brand.

Suba Group of Hotels launches Click Hotel in Surat, Gujarat 

By
BRL Editor
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Suba Group of Hotels has reached a new milestone by introducing Click Hotel Yuvraj in Surat, Gujarat.

Announcing the opening, Mansur Mehta, Managing Director, & Mubeen Mehta, CEO, Suba Group of Hotels, in a joint statement said, “We are delighted to launch Click Hotel in Surat. This is our second launch in Gujarat in the last 2 months and is a testament to our vision of being the hospitality group of choice across Gujarat and the rest of India. Click Hotel Yuvraj, Surat will offer familiarity and standardization to our existing patrons and freshness to our new guests. Perfectly epitomizing the Click Hotel’s brand’s core values – High Quality Sleep Comfort, Breakfast & Hi-Speed Broadband (WIFI) coupled with immaculate service and unparalleled hospitality of international standards, Click Hotel Yuvraj, Surat will act as a standard of comfort. As an organization which is deeply rooted in India, we are also committed towards sustainability and reducing our carbon footprint. Sustainability is the norm for us and towards that goal, we encourage our guests to reuse Linen when possible while also reducing our plastic consumption through use of glass water bottles.”

Click Hotel in Surat is a smart, sustainable, and affordable luxury hotel. It offers an elegant, budget-friendly yet luxurious experience for both business and leisure travelers of all ages. The hotel comprises 54 contemporary rooms, an in-house multi-cuisine restaurant, and three banquet venues.

Keyur Desai, Director Baywood Hotels India Pvt Ltd, “The hotel’s location is a major draw for all leisure and business travelers alike. The hotel is located less than 10 mins away from the diamond polishing hub and the Surat textiles hub which are 2 major business centers of Surat, while tourist attractions such as Dumas & Suvali beaches can be reached in less than an hour. The new association with Click Hotel under Suba Group of Hotels seems very promising and we are excited to look forward.”

Abinash Ashok, Vice President, Suba Group of Hotels said, “This is a landmark achievement for us. Not only is this our second major launch in 2 months, but this also adds a feather in the cap of Suba Group. The now Click hotel Yuvraj is a promising change over from an internationally associated hotel to dynamic Indian Brand while Yuvraj Hotels has been a favorite for all for all over the last 3 decades and truly Surat’s first modern hotel. Now under the leadership and management of the SUBA group, it will also offer familiarity to all our patrons.”

D2C apparel firm Bummer raises Rs 9.25-Cr in funding

By
BRL Editor
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Sulay Lavasi, founder, Bummer

Bummer, a direct-to-consumer apparel company, secured Rs 9.25 crore in funding. Gruhas’ Collective Consumer Fund, backed by Nikhil Kamath, led the funding.

Fluid Ventures, a D2C-focused venture firm and an existing investor in Bummer, also participated in this round. The investment was made against fresh shares, and all proceeds will benefit the company.

Previously, the company had raised Rs 5.5 crore in seed funding. Contributors included Aman Gupta from Boat and venture firm Beenext Asia, based in Singapore, which has invested in companies like NoBroker and BharatPe.

Following this funding, Gruhas and Beenext will emerge as the primary institutional stakeholders in Bummer, according to founder Sulay Lavsi, who didn’t disclose specific details.

“Bummer is disrupting the longstanding monopoly held by a handful of players in the men’s underwear Category. We believe that Bummer’s innovative approach, coupled with its quality products and edgy new-age design, is perfectly positioned to capture the Gen-Z market,” said Abhijeet Pai, a cofounder of Gruhas and the general partner of the Collective Consumer Fund. 

Specializing in underwear and loungewear, such as t-shirts and pajamas, the company generates around 85% of its revenue through its website. The remaining portion comes from online channels like Amazon and Myntra, as Lavsi mentioned.

While experimenting with sales in markets like the Middle East and Singapore, Bummer maintains its core focus on India for the foreseeable future.

Currently, the company has a presence in approximately 10 physical stores and aims to expand its distribution to around 100 stores next year. “Our ambition is to reach 10,000 touchpoints in the next five years … for comparison, Jockey has about 70,000 touchpoints in India,” he said. 

In the future, Bummer anticipates that half of its revenue will come from non-metro cities, including Ahmedabad, Indore, Chandigarh, Bhopal, and Jaipur. “The focus is on amplifying brand awareness and expanding into tier-2, 3, and 4 cities across India,” the company said in a statement.

Approximately half of the funds raised will be allocated to marketing expenses, with a particular emphasis on offline marketing, according to Lavasi. Around 40% of the funds will be directed towards expanding distribution, especially in offline avenues, while about 10% will be invested in expanding the team.

“The Indian consumer is very used to the plain, black and white underwear that they have been using for ages. The kind of focus on design and quality that we bring will be new to them, and we will have to see how they react to it, especially in the offline stores,” Lavasi said. 

In the fiscal year 2023, the company achieved a revenue of Rs 10 crore and aims to end fiscal year 2024 with revenue ranging between Rs 14-15 crore. The company expressed its plans to break even at the earnings before interest, taxes, depreciation, and amortization (EBITDA) level within the next 12 months, although specific details were not provided.

The recent funding provides the company a runway of approximately 15-18 months. Bummer’s founder, Sulay Lavsi, mentioned that they will likely seek another funding round closer to the end of this year.

Navana.ai launches Bodhi streaming speech recognition API for Indian AI

By
BRL Editor
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0

In response to the government’s focus on AI through IndiaAI Mission, Navana.ai, a homegrown startup, unveiled ‘Bodhi’, its second-generation multilingual Voice AI model, supporting over 11 languages.

Established in 2018 by Raoul Nanavati and Jai Nanavati, Navana.ai enables businesses to develop user-friendly digital interfaces for the next billion users.

The current version of Navana Automatic Voice Recognition (ASR) software follows a plug-and-play approach, making adoption and implementation simpler. The company, in a statement, highlighted its over 85% accuracy and faster reaction times, coupled with improved customization options.

“Recognising that nearly 75 per cent of the population prefers voice-based interactions, Navana.ai is dedicated to bridging communication barriers and facilitating online engagement, particularly among non-English speaking Internet users,” said Raoul Nanavati, Co-founder, Navana.ai.

The company’s primary project, the ‘Hello Ujjivan’ app, created in partnership with Ujjivan Small Finance Bank, celebrated its one-year deployment milestone.

Offered in nine languages, the app boasts 725,000 downloads, with 99% of its users being women.

Each month, the app facilitates 50,000 loan repayments and receives consent for new loan requests from 40,000 customers.

“We believe that ‘Bodhi’ is the perfect complement to Indian LLMs and will play an important role in enabling all real-time AI use cases across industries and channels,” said Raoul.

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