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Litigation funding firm LegalPay launches credit line for small business owners to settle legal disputes 

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LegalPay, a legal tech startup based in New Delhi, introduces a zero-interest credit line for businesses, startups, individual entrepreneurs, and freelancers. This initiative enables them to resolve legal disputes without affecting their working capital. 

The company aims to distribute approximately Rs 200 crore in 2024 through its non-banking finance company (NBFC), Padmalaya Finserve, and other collaborating NBFCs.

Named Quick Settle, this organized financing option is crafted to simplify the resolution of legal conflicts. It features a flexible 6–12-month repayment plan, allowing parties to settle disputes without depleting their working capital.

“Our vision is to bridge the gap between legal disputes and swift resolutions. By allowing defendants to manage their working capital efficiently through a zero-interest repayment cycle, we aim to foster a more conducive environment for businesses to thrive,” said Kundan Shahi, Founder and CEO of LegalPay. “This structured financing option enables defendants to settle claims seamlessly, alleviating the stress of legal battles without compromising their working capital.” 

Founded in 2019, LegalPay has funded more than 44,000 commercial cases and has underwritten an impressive 92,000 cases nationwide. Currently, the company is overseeing claims worth over Rs 2,800 crores.

The company concluded a Rs 12 crore interim financing bond in the previous year. This investment instrument, falling under the fixed income category, was introduced in January and boasted a coupon rate of 14%, compounding annually.

Nutrition brand Earthful raises Rs 3.3-Cr in funding 

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Plant-based health and nutrition supplement brand Earthful announced that it has raised Rs 3.3 crore in a funding round led by Green Ivy Venture. Angel investors, including Abhishek Goyal (Tracxn cofounder), Jayant Paleti (Darwinbox), and Brij Bhushan (Magicpin cofounder), also participated in the round. 

The newly acquired funds will be directed towards research and development, establishing an omnichannel presence, and team expansion.

Hyderabad-based Earthful offers plant-based health and supplement products such as vegan protein and multivitamins, among other things. 

Veda Gogineni, cofounder, Earthful said, “We are delighted to have received the investment which will help us invest further in research & development, bolster our team and build out a strong omnichannel distribution to expand our reach and impact the lives of many more Indians.” 

Sisters Sudha Gogineni and Veda Gogineni founded Earthful in 2020. The company reported a remarkable fivefold growth in the past year and experienced a consistent 15% month-on-month increase.

Dr Sindhura, director of Green Ivy Ventures, said, “I’m thrilled to partner with Earthful, founded by the incredible sisters Sudha & Veda. Their mission to fight undernutrition through 100% plant-based health supplements resonates deeply with me as a Doctor & Mother.”

Earthful sells its products through its website and online marketplaces.

VIKRAN Engineering and Exim raises $10M in funding 

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VIKRAN Engineering & Exim Private Limited, an engineering, procurement, and construction (EPC) company, has raised $10 million in a pre-IPO placement round from India Inflection Opportunity Fund, Ashish Kacholia, and other investors. 

In this round, Inflection Opportunity Fund invested Rs 45 crore, while Kacholia and others contributed Rs 36.5 crore. Together, they obtained around 11% ownership in the company. 

Pantomath Capital Advisors Private Limited served as the exclusive investment banker and financial advisor for this deal.

“With unparalleled execution capabilities backed by a professional team, a clear vision, and a strong promoter pedigree, we are quite excited about the potential for growth in VIKRAN. Further, we believe that the EPC industry will be critical for India’s ambitious plan of becoming the third largest economy with a GDP of approximately $8 trillion,” said Madhu Lunawat, CIO of India Inflection Opportunity Fund.

VIKRAN is an EPC company specializing in power-related projects like infrastructure, transmission, substations, and distribution. In the fiscal year 2023, it generated Rs 526 crore in revenue, showcasing a compound annual growth rate of 25% from fiscal 2021 to 2023.

In November of the previous year, Pantomath Financial Services Group closed its pre-IPO fund, India Inflection Opportunity Fund, amassing Rs 500 crore ($60 million), with a focus on investing in companies in the pre-IPO stages.

Travel-tech Bookingjini raises pre-series A funding 

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Bookingjini, a travel-tech platform, raised an undisclosed sum in a Pre-Series A round led by Inflection Point Ventures. The raised funds will be utilized for product development and customer acquisition strategies.

Bookingjini is committed to revolutionizing hospitality with advanced technology, delivering a smooth booking experience for hotels and guests. The platform includes an intelligent booking engine, channel manager, guest relationship management, analytics, and mobile accessibility.

Setting itself apart in the industry, Bookingjini emphasizes continuous innovation, customizable solutions, robust support, and scalable services, enabling hotels to succeed in a dynamic and ever-evolving market.

Founder and CEO Sibasish Mishra guides Bookingjini with a sincere commitment to revolutionizing the hospitality sector through innovative technology and a customer-centric approach.

Madhukar Bhardwaj, sr. Vice-president of Inflection Point Ventures says, “Boutique hotels depend heavily on intermediaries to achieve their bookings, which leads to heavy commission outflow and marginal gains. Managing sales, customers, managing hygiene, hotel maintenance, guest services, and the ever-expanding digital landscape further complicates their challenges. Bookingjini addresses these issues by providing technology, including a booking engine, guest relationship management system, and a robust customer service. This not only empowers the hotels but also helps in cutting down the cost of traditional intermediaries. Bookingjini’s vision on simplifying hotel operations in an ever-evolving digital landscape is a game changer.”  

Bookingjini operates on a significant scale in India, serving over 2100 paying customers in India.

Building a Financially Inclusive ‘Viksit Bharat’: Making Prudent Financial Choices with Bajaj Markets

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As India celebrates its 75th Republic Day, Bajaj Markets, a subsidiary of Bajaj Finserv, celebrates the power of choice in fuelling a financially inclusive and prosperous ‘Viksit Bharat’.

This Republic Day, embrace financial empowerment

As India strives towards a Viksit Bharat, a crucial foundation lies in empowering individuals and communities across the nation to unlock their full potential. Letting people choose the right financial product at the right time from a wide range of choices is the cornerstone of this inclusive vision.

Bajaj Markets understands this and offers a marketplace that simplifies financial choices for all.

Here’s how:

Building dreams, brick by brick: Loans can pave the path to home ownership, business ventures, or buying a vehicle to commute comfortably.

Unlocking rewards and convenience: Credit cards enhance everyday spending with benefits and cashback, tailored to every stage of life. EMI cards, on the other hand, offer the convenience of paying in easy instalments.

Building golden years: Investments like mutual funds and fixed deposits secure futures and retirement.

Safeguarding loved ones: Insurance products like car, bike, health, and life ensure that individuals and their loved ones always stay protected from unprecedented events.

Plans that simplify lifes journey: Pocket-sized insurance plans come at low cost and offer substantially high coverage. From travel to health, watch to wallet, they shield almost everything one may think of!

For every life stage or goal, this marketplace has a product that’s tailored to one’s unique needs. From rural entrepreneurs scaling heights with accessible loans to families securing their dreams with tailored investments, Bajaj Markets bridges the gap between aspirations and possibilities.

What’s more – one can compare, choose, and transact with ease using the website or the Bajaj Markets’ app. Every click, every transaction on this user-friendly platform fuels a vision of a nation where financial freedom is for everyone.

About Bajaj Markets

Bajaj Markets, a subsidiary of Bajaj Finserv and one of the fastest-growing fintech companies in India, is a digital marketplace that offers multiple financial products across all categories – Loans, Cards, Insurance, Investments, Payments, Pocket Insurance, and VAS. Bajaj Markets has partnered with trusted financial brands to offer “India ka Financial Supermarket”. A one-stop destination where its customers can explore a host of products that can help them achieve their financial life goals. Having started its journey as a fintech, Bajaj Markets has since then built a very strong business as a techfin. It offers a wide gamut of Digital Technology Services which span across Digital Applications, Enterprise Solutions, Data Engineering, Business Analytics, Quality Engineering, and Cloud Services.

Visit the Bajaj Markets website or download the Bajaj Markets’ app from the Play Store or App Store to experience “India ka Financial Supermarket”.

Shapoorji Pallonji Real Estate Aims to Surpass Rs. 1000 Crore in Sales Revenue from its Uber-luxury Project in Mumbai

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With the SP Group’s legacy of excellence spanning 157 years, Shapoorji Pallonji Real Estate (SPRE), one of India’s most trusted real estate developers, unveils its prestigious uber-luxury project, The Odyssey, situated off Marine Drive. This iconic venture marks the companys historic return to South Mumbai, reaffirming its commitment to crafting extraordinary living spaces.

Double Heighted Lobby at The Odyssey

Strategically positioned off Marine Drive close to Girgaon Chowpatty, The Odyssey epitomises contemporary luxury and provides seamless connectivity to the business hubs of South Mumbai and BKC through the upcoming coastal road. Multi-speciality hospitals, retail malls, multiplexes, international schools, renowned colleges, reputed clubs, and gymkhanas are also in close proximity to the project. The Odyssey stands as a testament to SPREs dedication to modern opulence, harmonising with the aspirations of its future residents.

Designed by renowned Architect Hafeez Contractor, The Odyssey aims to redefine opulent living in South Mumbai. The uber-luxury project offers breathtaking views of Marine Drive and the Arabian Sea. Its grand double-height lobby, 20 parking floors, and habitable floors starting from 70 meters elevate the living experience. The project comprises close to 60 apartments for sale, with revenues exceeding Rs. 1000 crores. The meticulously designed 3 BHK apartments with spacious balconies start from Rs. 15 crores. Every facet of The Odyssey reflects Shapoorji Pallonji Real Estates unwavering commitment to creating environments seamlessly blending luxury and comfort.

Commenting on the launch, Mr Venkatesh Gopalakrishnan, Director Group Promoter’s Office, MD & CEO, Shapoorji Pallonji Real Estate (SPRE), said, “At Shapoorji Pallonji Real Estate, we believe in creating more than just structures; we craft environments that redefine luxury and comfort. The Odyssey is a manifestation of this philosophy. With an expected revenue surpassing Rs. 1000 crore, The Odyssey by SPRE signifies a lucrative venture that sets new standards for uber-luxury projects in South Mumbai. As we make our historic comeback to South Mumbai, we are confident that this uber-luxury project will redefine opulent living.”

With The Odyssey, the Shapoorji Pallonji Group, which has played an integral part in the transformation of South Mumbai, is making a remarkable comeback there. With their presence across all the important and affluent locations in South Mumbai, such as Colaba, Cuffe Parade, Fort, Malabar Hill, Marine Lines, Tardeo, Cumballa Hills, and Nariman Point, among others, the ‘Makers of South Mumbai’ are reviving their presence through this latest project.

The developers have played a pivotal role in the history of South Mumbai, contributing to iconic constructions like the Reserve Bank of India (Old and New), New India Assurance Co., Mafatlal Centre, Dhanraj Mahal, Wankhede Stadium Renovation, World Trade Centre I, NCPA Apartments, Mumbai Central Railway Station, Jehangir Art Gallery, Cricket Club of India, Brabourne Stadium, The Imperial Towers, and many others. The citys skyline, shaped through meticulous planning, innovative architecture, and visionary development, stands as a testament to its enduring impact.

About Shapoorji Pallonji Real Estate (SPRE)

Shapoorji Pallonji Real Estate is a well-regarded and reputed player in the Indian real estate sector owing to its cutting-edge design innovation, construction quality, and architectural excellence. It constitutes a significant segment of the Shapoorji Pallonji Group, an enormous multi-business conglomerate. The group has more than 157 years of legacy that bridges the earliest celebrated structures of India with modern marvels. With a development potential of over 142 million square feet, SPRE has made inroads into most Indian cities – Mumbai, Pune, Bangalore, Gurugram, and Kolkata – with a variety of developments, from luxury apartments and opulent residences to aspirational homes for mid-income homebuyers as well as one of the largest mass housing projects in India.

Link to the website www.shapoorjipallonji.com.

With a Distinguished On-time Performance Rate of 86.44%, Saudia Transports 30 Million Guests in 2023 and Records a Growth of 21% in Operational Performance

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Saudia, the national flag carrier of Saudi Arabia, has continued its transformation in 2023 with the transportation of over 30 million guests, which marks a 21% increase compared to the previous year, and the operation of more than 176.3 thousand flights, demonstrating a 4% increase. While transit flights witnessed a growth of 77% in 2023 compared to the year 2019.

Saudia Transports 30 Million Guests in 2023 and Records a Growth of 21% in Operational Performance

These accomplishments are a result of Saudias strategic enhancements to its operational model, which focused on increasing seat capacity and flights frequency while fostering operational efficiency to achieve an overall on-time performance of 86.44% in 2023 which is among the top 10 globally.

Internationally, Saudia has played a pivotal role in connecting the world to the Kingdom by transporting over 16.7 million passengers through its international flight network, marking a substantial 36% increase. The airline operated more than 79.4 thousand international flights, marking a 19% increase compared to the previous year. Saudia has also registered a 26% increase in flight hours with 382 thousand flight hours in 2023.

Domestically, Saudia continued to serve the Kingdom by transporting over 13.5 million passengers, showcasing a 7% growth compared to previous year. Moreover, 55% of the total flights operated, totaling 96.9 thousand flights, were dedicated to the domestic destinations, accumulating 163 thousand flight hours.

Saudia has also inaugurated operations to the Red Sea International Airport in 2023, alongside the launch of several international stations including Beijing, China, Birmingham, UK, and Johannesburg, South Africa, reinforcing its commitment to expanding its global reach across various continents.

Captain Ibrahim Koshy, CEO of Saudia Group, said, “Saudias growing performance metrics reflect the optimal execution of our year-round operational plan, particularly during peak seasons. These figures are a testament to our success in serving key sectors, including tourism, business, and pilgrimage.”

“Looking ahead, we anticipate a substantial expansion of our fleet, propelling our performance and marking a new chapter for Saudia since its inception, eighty-years ago,” he added.

Saudia currently operates flights to over one hundred destinations across four continents with a diverse fleet of 142 aircraft. With strategic investments in King Abdulaziz International Airport in Jeddah, Saudia aims to establish a central hub that bridges the East with the West for transit flights. This aligns with the airlines commitment to improve the travel experience for guests through the adoption of the latest digital systems, artificial intelligence technologies, as well as introducing an upgraded system infrastructure which is set to elevate operational efficiency and punctuality.

About Saudia

Saudia is the national flag carrier of the Kingdom of Saudi Arabia. Established in 1945, the company has quickly become one of the regions largest airlines.

The airline serves an extensive global route network covering around 100 destinations across four continents, including all 28 domestic airports in Saudi Arabia.

Saudia was recently awarded the “World Class Airline 2024” for the third consecutive year at The APEX Official Airline Ratings™ awards. Saudia has also advanced 11 places in the Skytrax airlines ranking of the World Best Airlines 2023. Additionally, the airline ranked top among global airlines for best on-time performance (OTP) according to a report by the Cirium.

For more information on Saudia, please visit www.saudia.com.

Fast fashion brand Newme raises $5 million in funding 

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Newme, a fast fashion brand focused on Gen Z, announced on Wednesday that it secured $5.4 million (Rs 45 crore) in seed funding led by Fireside Ventures. 

The Bengaluru-based startup, established in 2022, sells its clothing brand through various channels, both online and offline. It had previously received funding from investors like Aum Ventures, 2am VC, and All In Capital, who have also participated in the recent funding round.

“With this new round of capital, we are going to enhance our supply chain and scale-up the manufacturing in the country, go from two to 20 cities in our offline play with 1.5 lakh square feet of space, and build a stronger technology team over the course of the coming 12 months,” founder and CEO Sumit Jasoria said.

Presently, approximately 35% of Newme’s apparel is produced in Mumbai, with the remaining 65% in China. The brand aims to increase local production to 50% in the short term, signaling a commitment to bolster local manufacturing.

Newme, with a focus on catering to Gen Z (individuals born between the mid-to-late 1990s and the early 2010s), has successfully served over 3.5 lakh customers through its website and stores. Leveraging technology guided by four designers, the brand introduces 500 new designs per week, consistently refreshing its curated collection to meet the dynamic preferences of its target audience.

In July 2023, Newme inaugurated its initial two stores in Bengaluru, located at Forum South Mall and Orion Mall Rajajinagar. Expanding its physical presence, the third store was launched in December 2023 at Infiniti Mall Malad in Mumbai. The brand has ambitious plans to extend its footprint to additional cities, with Chandigarh and Jaipur being part of the upcoming expansion strategy, Jasoria added.

Before joining Newme, Jasoria held various roles, including overseeing the expansion of the e-commerce platform Daraz in Myanmar, Sri Lanka, and Nepal. Additionally, he served as the head of Meero, a company specializing in professional fashion photography, artificial intelligence-driven image management, and quality enhancement services in India, among other responsibilities.

“Today, the fast fashion space has become less a fashion game and more a technology game,” he added. Newme currently retails its apparel at an average price point of Rs 900. Its average billing value comes to about Rs 1,500 online and Rs 2,500 offline, Jasoria said.

Newme has primarily expanded its consumer base by targeting students in approximately 300 colleges across 150 cities, employing campus ambassador programs as a key strategy, Jasoria added.

Global Ethical Hacking Report: 83% of Ethical Hackers Experience AI-Driven Attacks

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The global cybersecurity landscape is evolving at an unprecedented pace, presenting new challenges and opportunities for defenders and threat actors alike, especially with the rapid evolution of AI. In its latest industry findings global survey, EC-Council, inventor of the Certified Ethical Hacker (C|EH) and a global leader in cybersecurity certification and training, released the EC-Council C|EH Threat Report 2024, exposing the alarming state of cybersecurity and the current situation directly from the front lines. The EC-Council C|EH Threat Report 2024 is based on insights from 1,066 professionals across 112 countries from 14 different industries. Over 50% of the respondents have over a decade of experience in cybersecurity.

EC-Council CEH Threat Report 2024

The Cost of a Data Breach 2023 survey reveals that organizations leveraging artificial intelligence (AI) and automation saved $1.76 million in breach expenses and expedited breach identification and containment by over 100 days on average. Despite the widespread interest in using AI for cybersecurity operations, only 28% of organizations are utilizing it extensively, with the majority (72%) falling short of fully harnessing its substantial advantages. While AI can secure digital assets, it has been equally exploited by threat actors over the years. AI-generated phishing emails have higher open rates than manually crafted ones.

Jay Bavisi, President & CEO of EC-Council Group, said, “AI has emerged as a double-edged sword in cybersecurity, offering unprecedented defense capabilities and new avenues for attackers. However, as the EC-Council C|EH Threat Report 2024 vividly illustrates, the dynamic landscape is changing at an electrifying speed. As defenders, we must harness the power of AI to anticipate, adapt, and outsmart evolving threats.”

The EC-Council C|EH Threat Report, themed “Cybersecurity in the Era of AI“, dissects the pivotal clash between AI-enabled threat actors and cybersecurity defenders, offering a compelling narrative backed by 20 crucial data points and in-depth technical insights. With a focus on actionable intelligence, the report equips professionals to navigate the complex and dynamic threat landscape.

Key Report Findings

83% of respondents note tangible alterations attributed to the rise of artificial intelligence in cyber attacks, signifying a significant shift in attack methodologies.

80% of organizations have adopted multi-factor authentication as a crucial defense against the top 5 cloud threat tactics and procedures.

82% of respondents acknowledged the pivotal role of regular training for incident response and its importance in strengthening cybersecurity.

Over 70% of respondents recognize social engineering and zero-day exploits as the foremost threat vectors in todays cyber landscape.

68% of professionals identify zero-day exploits as a critical challenge, underlining the urgency for advanced defense strategies.

66% of respondents admit to being ill-prepared for the potential onslaught of AI-driven cyber threats.

60% foresee AI-enhanced social engineering as a significant hurdle. The report highlights the urgent need for proactive measures against automated and sophisticated scams.

Highlighting a critical need for swift response times, the report underscores a clear opportunity for enhancement in incident response. A substantial portion of attacks can be addressed within the first hour, yet merely 10% were resolved within this timeframe.

This report is an invaluable compass for cybersecurity professionals, delivering actionable strategies to anticipate and thwart evolving threats. By addressing the dynamic challenges presented by AI-driven attacks, the report empowers organizations to strengthen their defenses and safeguard their digital assets. Its more than just a report: its a call to fortify our defenses and safeguard our organizations.

For a comprehensive overview of the EC-Council C|EH Threat Report 2024 and to access the full report, Click Here.

About EC-Council
EC-Council invented the Certified Ethical Hacker. Founded in 2001 in response to 9/11, EC-Councils mission is to provide the training and certifications apprentice and experienced cybersecurity professionals need to keep corporations, government agencies, and others who employ them safe from attack.

Best known for its Certified Ethical Hacker (C|EH) program, EC-Council today offers 200 different trainings, certificates, and degrees in everything from Computer Forensic Investigation and Security Analysis to Threat Intelligence and Information Security. An ISO/IEC 17024 Accredited Organization recognized under the US Defense Department Directive 8140/8570 and many other authoritative cybersecurity bodies worldwide, the company has certified over 350,000 professionals across the globe. EC-Council is the gold standard in cybersecurity education and certification, trusted by seven of the Fortune 10, half of the Fortune 100, and the intelligence communities of 140 nations.

A truly global organization with a driving belief in bringing diversity, equity, and inclusion to the modern cybersecurity workforce, EC-Council maintains 11 offices in the US, the UK, India, Malaysia, Singapore, and Indonesia. The company can be reached online at www.eccouncil.org.

Follow EC-Council on LinkedIn and Twitter.

HealthMug and Maate join forces to transform and blend tradition with technology

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New Delhi, 24th January, 2024 – HealthMug, a leading e-commerce platform in the well-being sector, is extremely honoured to announce its collaboration with Maate, a renowned personal care brand which is owned by Suresh Raina’s wife, Priyanka Choudhry Raina. This strategic collaboration aims to mark a significant step towards a revolutionary future where the baby care market will be offering innovative and reliable solutions. 

This strategic partnership between HealthMug and Maate aims to strengthen the organization to reach a wider range of audiences and deliver exceptional personal care products, keeping in mind the well-being of infants and toddlers.

Mohit Agarwal, Co-Founder, HealthMug Pvt. Ltd comments on this partnership, “Healthmug has always been dedicated to curating a marketplace that caters to the diverse needs of its customers. With the addition of Maate, the platform strengthens its position as the go-to destination for all things related to parenting and childcare. Maate is widely recognised for its commitment to safety, innovation, and the well-being of infants and toddlers. Their product range includes baby massage oil, hair oil, shampoo and other products prepared to make parenting a joyful and worry-free experience. This strategic collaboration is set to revolutionize the way consumers access Maate’s innovative products, bringing a new level of convenience and reliability to the baby care market and we both are very much confident together we will contribute a significant level of growth in both the business.”

Rohit Sharma, the E-Commerce Manager of Maate, further expressed his enthusiasm about the partnership by stating, “At Maate company, we’ve always been passionate about providing our customers with high-quality personal care products that enhance their well-being and boost their confidence. We believe our collaboration with HealthMug will open up new avenues and opportunities to share our brand’s mission with an even wider audience. Our team is eager to collaborate closely with yours to ensure a smooth and successful journey ahead. We look forward to working hand-in-hand to explore new marketing strategies, expand our product offerings, and deliver exceptional experiences to customers on HealthMug.” 

Maate, a leading personal care brand, offers natural baby products with a mother’s nurturing touch. At Maate the traditional Indian wisdom is combined with scientific precision for today’s times by harnessing the potency of precious oils, pure herbs and extracts. HealthMug and Maate are excited about the journey ahead, and both companies promise to bring enhanced convenience, reliability, and joy to parents and caregivers. 

About HealthMug.com

HealthMug is a leading online health and wellness platform that offers a wide range of products catering to the diverse needs of its customers. With a commitment to providing quality and authentic products, HealthMug aims to empower individuals on their journey to better health and well-being

About Maate

Maate, owned by Suresh Raina’s wife, Priyanka Choudhry Raina, is a brand that combines traditional Indian wisdom with scientific precision to offer natural baby products. Their product line includes baby massage oil, hair oil, shampoo, and other essentials, providing parents with high-quality solutions for the well-being of their infants and toddlers.