STAAH Technology enables Kerala hotels to achieve an 80% increase in online bookings

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July 13, 2023

Kerala gets tourists from all over the world yearly, so its hotels must handle the constant demand head-on and efficiently manage their bookings. With the help of advanced distribution technology solutions like the Channel Manager and Booking Engine, STAAH, a New Zealand-based provider of hospitality solutions, has helped the state’s hotels increase their online bookings by up to 80%.

Hotel Span International (Cochin), a 4-star business hotel with an inventory of 37 rooms, deployed STAAH’s Channel Manager in 2018, resulting in an impressive 80% surge in direct online bookings. “STAAH has transformed our booking management process, improved efficiency, reduced errors, and optimized our pricing strategy,” said Jinto Chacko, General Manager, Span International.

The Fog Munnar Resort is a top-notch environment-friendly resort with 40 rooms. The hotel struggled with overbooking during peak seasons and rate disparities, which led to errors and dissatisfied clients. “Managing multiple online distribution channels was becoming an intimidating task, and STAAH helped us manage it all seamlessly. We were easily able to connect all our booking channels, including OTAs and direct booking websites, through a single interface. Our bookings are up by 40-50%,” said Praveen Menon, General Manager, The Fog Munnar Resorts & Spa.

The Krishnavalsam Regency has 40 rooms and is close to the famous Guruvayoor temple. The hotel saw a 40% increase in direct website bookings after implementing STAAH’s Channel Manager and Booking Engine. “STAAH’s seamless integration and real-time updates has helped us manage our online distribution effortlessly. We are able to optimize our pricing strategies and track key metrics accurately,” said Binu Nair, General Manager, Krishnavalsam Regency.

The Misty Range Resorts, which spans three acres in the lush, misty hills of Marayoor, currently has 10 rooms but has plans to increase that number to 20 this year. “STAAH has been a game changer for us!” said Prem Kumar, General Manager, Misty Range Resorts.

“STAAH’s success stories in Kerala highlights the potential of robust direct booking system as a potent sales and distribution channel that directly impact the bottom line. Hotels need reliable and innovative technology partners like STAAH to stay relevant in a highly- evolving digital world,” said Shoaib Ali , National Sales Head- India.

Meat delivery startup ZappFresh acquires Dr Meat for $3mn

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BRL Editor

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July 13, 2023

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Startup ZappFresh, which sells meat in Delhi-NCR through its online platform, has acquired Dr. Meat in a deal value of USD 3 million as part of its strategy to enter the Bengaluru market. According to a statement from ZappFresh, the company has fully acquired Bengaluru-based Dr. Meat, a brand operated by Sukos Foods.

The company did not disclose the deal value. However, the market sources said the deal was valued at around USD 3 million.

It added that the acquisition of Dr. Meat aligns perfectly with ZappFresh’s growth strategy and long-term goals.

ZappFresh seeks to expand into new markets, with Bengaluru as its first target.

Deepanshu Manchanda, founder of ZappFresh, said, “Dr. Meat’s demonstrated ability to achieve substantial scale without compromising its bottom line resonates strongly with ZappFresh’s vision. We have been profitable for the last 4 years and anticipate reaching revenue of Rs 70 crore within 12 months in Bengaluru alone, while targeting a top line of Rs 300 crore by the end of the fiscal year 2023-24.”

ZappFresh claimed that the acquisition of Dr. Meat is just the beginning of its proactive pursuit of new growth opportunities.

The company is currently in discussions about further acquisitions that will promote its expansion plans and strengthen its market presence.

According to the statement, ZappFresh has received tremendous support from investors, including SIDBI VC, Dabur Family Office, Letsventure, Keritsu Forum, and several prominent angels from the food and tech industries.

Yandex introduces Telegram channel monetization through its own advertising network

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July 13, 2023

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Now, owners of Telegram channels, including those with as few as two thousand subscribers, can connect them to the Yandex Advertising Network and monetize content through advertising.

Internet, July 12, 2023 – Yandex, one of Europe’s leading technology companies, has begun testing a new tool for advertising placement in Telegram channels. With over 350,000 advertisers using Yandex Advertising Network and an impressive average of 4.5 billion daily ad placements, Yandex offers comprehensive advertising solutions in 50 countries worldwide. Building on this extensive experience, Yandex has now integrated its effective advertising platform with Telegram, the popular messenger, providing an opportunity for channel owners to monetize their content.

With an impressive global monthly active user base exceeding 700 million, Telegram has emerged as a popular messaging platform connecting people worldwide. Unlike other closed platforms, Telegram is open for external integrations. This makes it possible to build an external monetization solution and enable channels to earn more by investing in creating new content for users.

Leveraging Yandex’s expertise in delivering targeted advertisements, the company has adapted its proprietary solutions to cater specifically to the messaging service of Telegram. By using Yandex’s advanced advertising algorithms, Yandex ensures that ads are placed as effectively as possible. This integration provides advertisers a transparent system that ensures fair auctions and payment for real clicks.

Moreover, integration eliminates the need for manual channel selection, Yandex’s neural networks consider the channel’s theme and find ads that match the interests of its audience. This automated process saves channel owners and advertisers time and resources, enabling them to focus on delivering engaging content and reaching their target audience.

A bot developed by Yandex will place advertising posts; it only requires permission to publish messages. The channel owner has complete control over the frequency and timing of ad displays. Even channels with particular topics or just beginning to gain popularity can now generate revenue through advertising.

Yandex has already started accepting applications from channel owners and advertisers for participation in the testing phase. The channel must have a minimum of two thousand subscribers, and the content should adhere to the laws and rules of the Yandex Advertising Network.

About Yandex

Yandex is a technology company that builds intelligent products and services powered by machine learning. We aim to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and navigation products while expanding into mobility, e-commerce, online entertainment, cloud computing, and other markets to assist millions of consumers worldwide.

Aye Finance allocates Rs 100-Cr for credit to women micro enterprises

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July 13, 2023

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Aye Finance, a fintech lender, announced that it had allocated Rs 100 crore for Shakti Loan in the current financial year and planned to extend credit to 10,000 women operating micro enterprises.

According to Aye, Shakti Loan was made possible by CGAP, a partnership of more than 30 leading development organizations, including the World Bank, UNDP, and Mastercard Foundation, which aims to improve the lives of the underprivileged, particularly women, through financial inclusion.

Aye was incorporated in 2014 and is backed by CapitalG, Elevation Capital, Light Rock, Alpha Wave, A91 Partners, and MAJ Invest.

The lender claimed that since its inception, it has disbursed over Rs 7,000 crore to over 6.5 lakh micro businesses, enabling their financial inclusion.

“We are very optimistic about Shakti Loan being the game changer for women micro enterprises and have allocated INR 100 crore to this product in the current financial year,” said Niraj Kaushik, Deputy CEO, Aye Finance.

Aye’s Shakti Loan has been designed to address the challenges women-led businesses face to ensure adequate capital is available to help them unlock their tremendous growth potential, the lender, which provides unsecured loans, said in a release.

“By providing affordable credit, we hope the tailored nature of Shakti Loan will help unlock the growth potential of women micro-entrepreneurs and contribute to the advancement of women’s economic empowerment in India,” said Xavier Faz, CGAP’s Lead, Financial Services for Equality and Growth.

Enzyme Office Spaces adds 1 lakh sq ft of managed workspace in Whitefield, Bengaluru

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July 12, 2023

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Enzyme Office Spaces, the leading provider of plug-and-play office solutions in Bengaluru, today announced the addition of a new facility in Whitefield to its managed workspace portfolio. The managed workspace spans 1 lakh square feet and will have over 2,000 seats and modern amenities to meet the city’s rising demand for managed workspaces.

Enzyme is adding two managed workspaces, one in each of SJR I Park and Rathi Legacy, totalling 60,000 and 40,000 square feet, respectively. These workspaces are expected to be operational by November 2023. With the addition of these two facilities, Bengaluru, one of the country’s fastest-growing managed workspace markets, will have more than 27,000 seats.

The flexible workspace market in India is estimated to grow from its current size of 46.7 million square feet (msf) to 126 million square feet (msf) by 2027, with a compound annual growth rate (CAGR) of 22%. This growth is driven by the cost efficiencies for companies provided by a managed workspace over traditional office spaces and the hybrid mode of work becoming prevalent after COVID, among other factors.

Commenting on the development, Mr Ashish Agarwal, Co-founder & CEO of Enzyme Office Space, said, “As an organisation which is absolutely committed to fulfilling the evolving requirements of occupiers, we have been at the forefront of developing state-of-the-art managed workspaces at key locations across the city. The addition of two new facilities in the IT belt of Whitefield, which are collectively spread across 1 lakh square feet, is a testament to our commitment and bullishness on the long-term growth of this sector. These spaces will play a pivotal role in supporting emerging startups from the fintech, artificial intelligence, cyber security, data science and SAAS domains in the city who are looking for cost-effective infrastructural solutions to focus on their core business”.

Interestingly, about 20% of the managed workspaces across these two locations have already sold out, indicating strong demand for the company’s offerings.

With a total of 25,000 seats, Enzyme Office Space has managed workspaces at 28 locations across the city, including HSR Layout, Koramangala, Domlur, and Sarjapur Road. With over 10 lakh square feet of office space already under its kitty and plans to add another 3 lakh square feet in the current fiscal year, this company, founded in 2014, has emerged as one of the city’s fastest-growing players.

Boom in tier-III housing markets draws banks, HFCs

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July 12, 2023

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After metros and tier 1&2 cities, it is now the turn of tier 3 housing markets, which are luring banks and housing finance companies (HFCs) to tap the booming residential real estate segment. The demand for housing in tier 3 cities and towns is driven by a hybrid working model, easy access to products through e-retailers, improving social infrastructure, and affordability.

At a time when the home loan markets in tier 1 and tier 2 cities are becoming crowded, this has triggered lenders to increase their focus on these expanding urban centres.

After observing a strong demand for housing in these cities, the public sector Bank of Baroda has deployed sales teams in tier 3 locations. “We have seen about 18% growth last year (FY23). Owing to the same we have deployed sales teams in these cities and hope to see more growth in the current year onwards,” said Harshadkumar T Solanki, head – mortgages & other retail assets, Bank of Baroda.

Real estate experts point out that tier 3 and tier 4 cities, towns, and rural areas account for more than 60% of the country’s housing market. Due to lenders’ dominance in Tier 1 and Tier 2 cities, it has a tremendous amount of untapped potential and is still largely unexplored. Housing plots and self-construction with ticket sizes ranging from Rs 12 lakh to Rs 50 lakh make up most of the portfolio in Tier 3 markets.

Sundaram Home Finance (SHF) is expanding operations in tier 3 cities and launching 15 new branches primarily in these (tier 3) markets this year. The home financier with sizable operations in the southern states has about 35% of its disbursements from tier 1 cities, while tier 3 cities and towns account for 10% of the total disbursements. This share from the tier 3 cities and towns is expected to increase 25% in the next three years. During FY23, SHF reported a total disbursement of Rs 3,978 crore.

According to Mumbai-based Vastu Housing Finance, the demand for housing loans in tier 3 and tier 4 markets is still high due to rising affordability and the rising number of nuclear families. The company disbursed more than Rs 1,800 crore in housing loans in FY23, with tier 3 cities and towns receiving 55% of those loans.

Sandeep Menon – founder, managing director & CEO, Vastu Housing Finance, said, “Growth in incremental disbursals is faster in the tier 3 markets against tier 2, driven by the increasing presence of formal lenders in the tier 3 markets.”

Girish Kousgi, MD & CEO, PNB Housing Finance, said, “We are focusing on strengthening our distribution network by increasing our presence in tier 2 and 3 cities.”

Developers’ body, Credai national secretary G Ram Reddy, claimed that interest in tier 3 housing markets has shifted as a result of the hybrid working model, access to commodities on par with metros and tier I cities, and rising real estate prices in tier I and II cities.

“Moreover, decentralisation in some states in the form of carving out new districts has resulted in creation of social infrastructure such as hospitals and educational institutions centered around the tier 3 cities, which are the district headquarters. These localities are emerging as new growth centres of housing, as well,” he added.

IBM mulls using its own AI chip in new cloud service to lower costs

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BRL Editor

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July 12, 2023

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International Business Machines (IBM) is considering using artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service it made widely available this week, an executive said Tuesday.

The company is contemplating using a chip called the Artificial Intelligence Unit as part of its new “watsonx” cloud service, according to Mukesh Khare, general manager of IBM Semiconductors, in an interview with Reuters at a semiconductor conference in San Francisco.

More than a decade after Watson, its first major AI system struggled to find a market, IBM hopes to benefit from the boom in generative AI technologies that can write human-like text.

High costs were one of the problems the previous Watson system had, which IBM aims to fix now. Because its chips are exceedingly power-efficient, Khare claimed doing so could reduce the cost of cloud services.

In October, IBM made the chip’s existence announcement but did not specify the manufacturer or how it would be used.

According to Khare, his company is considering using the chip in watsonx. It is manufactured by Samsung Electronics, which collaborates with IBM on semiconductor research.

IBM has joined other tech giants such as Alphabet’s Google and Amazon.com in designing its own AI chips.

However, Khare claimed that IBM was not trying to design a direct replacement for Nvidia semiconductors, whose chips lead the market for using massive amounts of data to train AI systems.

Instead, IBM’s chip aims to be cost-effective at a process known as inference, which uses a trained AI system to make decisions in the real world.

“That’s where the volume is right now,” Khare said. “We don’t want to go toward training right now. Training is a different beast in terms of computing. We want to go where we can have the most impact.”

Honeywell launches cloud-based digital twin for efficient and secure up-to-date testing

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July 11, 2023

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Honeywell introduced its new Honeywell Digital Prime solution, a cloud-based digital twin for tracking, managing, and testing process control changes and system modifications. With the help of Digital Prime, users can test more frequently and with greater accuracy, which lowers the cost of reactive maintenance overall.

Digital Prime provides the highest quality control level through an effective and team-based method for managing changes, running factory acceptance tests, and improving project execution and training without interfering with the production system. Companies in sectors like Oil & Gas, sheet manufacturing, and chemicals can use the platform to test modifications during planned shutdown periods to reduce rework.

Most solutions are not up to date to match live operations, require specialized hardware, and are vulnerable to security breaches. To overcome these difficulties, Digital Prime offers a “lab system as a service” that automatically updates to reflect changes in the production environment and provides a dependable digital twin.

Digital Prime is a collaborative ecosystem with secure cloud-based connectivity, a virtual engineering platform, and built-in security protection. Through its subscription service, the digital ecosystem is accessible to users worldwide using multi-factor authentication, allowing the customers to standardize across the enterprise.

“Honeywell Digital Prime will set a new standard for the future of digital twins with its instant access to a continuously updated, safe platform for monitoring and testing operations,” said Pramesh Maheshwari, President of Honeywell Process Solutions.

Honeywell India engineers were involved in ideating, conceptualizing, and developing the cloud-based digital twin solution. The engineering team worked efficiently and swiftly, collaborating with the local and global business teams on concept development, field pilot deployment, and transforming it into a service that caters to future demands.

Collabera Digital Partners with OutSystems to speed up digital transformation journey of clients

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July 11, 2023

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Collabera Digital, a leading provider of Digital Engineering Services, announced a strategic partnership with OutSystems, a global leader in high-performance application development.

Organizations across industries seek innovative solutions to handle their digital challenges effectively and efficiently in today’s quickly changing business landscape. The need for low-code development platforms has increased, allowing companies to develop and deploy applications more rapidly and affordably than they could with conventional software development methods.

The OutSystems high-performance low-code platform is the focus of Collabera Digital’s Low Code Centre of Excellence, a specialized hub of expertise and resources. Collabera Digital gains in-depth knowledge, proficiency, and practical experience with OutSystems technology through the CoE, which acts as a centralized knowledge hub. With this in-depth expertise, Collabera Digital can showcase its abilities and demonstrate that it is committed to offering top-notch solutions on the OutSystems platform.

Through this partnership, Collabera Digital will accelerate their clients’ digital advancement initiatives to achieve exceptional business outcomes by providing:

Accelerated application development to help adapt to evolving market demands.
Seamless integration for a smooth transition and minimizing disruption during their digital initiatives journey.
Scalable solutions to future-proof their digital infrastructure.
Enhanced user experience by delivering highly engaging and responsive applications.

Vijayaraghavan Srinivasan, Executive Vice President & Head of Digital Engineering Services, Collabera Digital, said, “By combining our deep industry expertise with the robust capabilities of OutSystems’ platform, we have enhanced our ability to expedite our clients’ transformative journey and unlock innovated avenues for growth and innovation.”

Collabera Digital, founded in 2010 and has over 25 offices spread across 11+ nations in APAC & Europe, helps companies accelerate their digital journeys.

Retail tech start-up SmartDukaan secures $10mn in Pre-Series A round

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July 11, 2023

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Retail tech platform SmartDukaan has raised $10 million in a Pre-Series A funding round led by Findoc Finvest Pvt. Leafberry Ads Pvt. Ltd. and other angel investors participated in the round.

The company claims that the funding will be used to expand and strengthen its product offerings. The funds infusion will allow it to progress in supply chain management and upgrade its technological infrastructure.

According to a press release, the move will also help the company broaden its line of products and improve operational efficiency to better meet the changing demands of millennial consumers.

“The funding will serve as a catalyst for us to enhance and expand our network across the country. Our unwavering mission remains to be the largest mobile retail network in India, digitising and empowering retailers and also inviting aspiring entrepreneurs to be part of a profitable mobile retail business,” said Tarun Verma, CEO and Founder, SmartDukaan.

The platform is expanding, intending to open 500 stores overall by December 2023. The allocated funds will also strengthen the company’s back-end operations and improve its service offerings to customers.

With this substantial funding, SmartDukaan has the potential to improve its performance even further. The company has a proven track record of providing exceptional service to its franchisee partners and end-users. The investment will significantly improve the company’s commitment to operational excellence and customer satisfaction.

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