Skyview By Empyrean launches, Milestones by Empyrean, a loyalty programme

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October 29, 2022

Promoters of Skyview by Empyrean in Patnitop, UT J&K, Empyrean Skyview Projects Private Limited, has announced the launch of Milestones by Empyrean, a loyalty membership programme for its customers.

This “One Destination Endless Experiences” getaway, spread over 22 acres, began operations three years ago with the successful launch of the Skyview Gondola as the Gateway to Patnitop. It is certified as India’s first sustainable tourism destination and is only 90 minutes from the Mata Vaishno Devi Shrine in Katra.

A rewards programme called Milestones by Empyrean is available to anybody who wants to join an outdoor recreation destination. It offers the finest of Skyview by Empyrean all year long, including Gondola rides, transferable gift vouchers, complimentary stays and meals, and incredible bonus points on all purchases made at the resort.

Since its opening, Skyview By Empyrean has drawn enormous crowds of tourists. As people opt for short breaks and outdoor activities for adventure, family time, and team building, it has become a popular destination for locals and visitors from other states.

FMCG startup Himshakti bags ₹17 lakh in pre-seed round

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October 28, 2022

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Dehradun-based FMCG company Himshakti has raised Rs 17 lakh in a pre-seed funding round from Artha Venture Fund and IIM Kashipur, according to a press release. The Artha Access initiative and IIM Kashipur have signed an MoU. This is the first deal of the association.

“We believe there is a big untapped market for organic FMCG products available at an affordable cost; Himshakti is tapping into this segment,” commented Gauri Kuchhal, Principal of Artha Venture Fund, adding that the VC firm can help Himshakti scale up faster to have a pan India and a strong international presence.

Angel investors Anand Kumar of Pier Counsel and Varun Agrawal of StarClinch also participated in the funding round.

According to the press release, Himshakti intends to utilize the funds for marketing, sales, and raising the calibre of its product packaging.

The company also plans to expand its presence in other markets like France, the ASEAN region, and other European countries. It plans to increase its market presence and secure shelves in 200 premium stores. The brand is now applying for international certifications to begin operations in Europe and ASEAN countries.

Founded in November 2019, Himshakti sells organic products like seasoned salts, spices, teas, cereals, and juices from the Himalayan region of India. It recently launched new organic products like hemp oil, hemp flour, hemp seeds, nettle tea, and chamomile tea.

Crypto exchange Blockchain.com partners with Visa to provide crypto debit card to US customers

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October 27, 2022

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Crypto exchange Blockchain.com has announced a partnership with payments company Visa to launch a crypto card. Only US buyers will currently be able to buy the card. Next year, there are plans to expand the offering to European customers.

Wherever Visa debit cards are accepted, users of the crypto card will be able to make purchases using their crypto or cash balance. According to Blockchain.com, 50,000 people on the waitlist want to sign up.

The company shared the waitlist link and announced the relationship on Twitter. According to the company’s tweet, there would be no sign-up, yearly, or transaction fees, and users would receive 1% of all purchases back in cryptocurrency.

The crypto card will be issued by Marqeta, a California-based payments company, which powered crypto finance firm Swipe’s Visa card in September 2020.

Visa also accepts cards from crypto companies such as Coinbase and Binance. In the first week of October, Visa and the crypto exchange FTX collaborated to sell crypto debit cards in 40 countries, including those in Latin America, Asia, and Europe.

Other global payment giants like Visa want to integrate crypto into their payment networks. As part of its introduction of Crypto Source, Mastercard last week announced its collaboration with crypto trading platform Paxos.

Spotify records 456 million monthly active users in Q3, boosted by strong growth in India

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October 26, 2022

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Spotify, a music streaming service, reported that its monthly active user base increased 20% to 456 million in the quarter that ended in September compared to the same period the previous year. This growth was attributed to a strong uptake in India following multiple marketing initiatives.

“Quarterly performance was positively impacted by better-than-expected intake in India as a result of a multimedia marketing campaign driving activations and reactivations,” the Stockholm-based company said.

Spotify India relies significantly on marketing and has devoted more than 80% of its annual budget to branding expenses since 2019. This is important as India is a price-sensitive market, and Spotify is up against local rivals like JioSaavn, Wynk, and Hungama. The company primarily makes money in India from subscriptions and advertising revenue.

Spotify’s Chief Financial Officer (CFO) Paul Vogel reiterated that in the previous quarters, the streaming service had been doing “incredibly well” in India and has “huge opportunities in the near future”.

With great development in the Latin American region, the streaming platform currently has over 195 paid subscribers globally for its Premium service.

“This was the largest Q3 net additions in our history and excluding our exit from Russia, our year to date net additions are at a record high and we expect this to sustain through year-end,” Vogel said in the investors presentation.

Its revenue increased by 21% year over year to just over €3 billion ($2.99 billion) in the quarter, and its advertising business grew by19%, driven mostly by double-digit growth in the podcasting business.

IHCL announces the launch of Taj Wayanad Resort and Spa, Kerala

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October 26, 2022

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With the launch of Taj Wayanad Resort & Spa in Kerala, Indian Hotels Company (IHCL) has announced its debut in Wayanad. The resort, located on a hillside with panoramic views of the forest and lake nearby, beautifully blends luxury with nature and encourages mindfulness at every moment.

Puneet Chhatwal, managing director and CEO of IHCL, said, “IHCL has been the proud connoisseur of breath-taking locations across India for over a century. While Kerala is known for its scenic beauty and natural resources, Wayanad is a lesser discovered gem. With the opening of Taj Wayanad Resort & Spa, we are delighted to bring alive another aspect of the magic that defines God’s Own Country. We believe that this luxury lakeside resort hotel will put Wayanad on the global tourism map, while further strengthening IHCL’s presence in Kerala.”

The 10-acre resort, close to Kozhikode, Kannur, and Bengaluru, has 61 rooms and villas that each pay homage to the natural beauty of the environment.

Beginning on October 28, 2022, guests can stay at the Taj Wayanad Resort & Spa in Kerala.

EV brand EMotorad receives ₹24-Cr in Pre-Series A funding

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October 25, 2022

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EMotorad has recently raised Rs 24 crore in a Pre-series A round led by Green Frontier Capital (GFC), an investment firm specializing in climate investment, LetsVenture, and Ivy Growth Associates.

The startup plans to utilize the funds to scale the business, hire the best talents in the industry, and accelerate business growth. Additionally, it intends to incorporate cutting-edge technology to transform consumers’ perceptions of cycling.

Additionally, it plans to add a layer of technology to the current e-bike that will provide consumers access to a unique platform for the cycling community that focuses on health and social benefits.

“At GFC, we are really excited about our investment in EMotorad. EM is building an EV company with a large global potential. What struck us the most about EM is the pace at which they were able to expand the business across geographies in just 2 years of existence, not only this the technology they are building on the top of their bikes is a game changer, it will change the way people cycle,” said Sandiip Bhammer, the Managing Partner of Green Frontier Capital.

EMotorad (EM), a Pune-based electric vehicle startup founded in 2020 by Rajib Gangopadhyay, Kunal Gupta, Aditya Oza, and Sumedh Battewar, aims to provide eco-friendly, cutting-edge e-bikes for adventurers, daily commuters, or casual riders at an accessible price. The EV startup uses India’s local sourcing and production resources to offer premium-quality electric cycles at reasonable pricing.

The startup has increased its customer base in Nepal, Japan, the UAE, and Europe. Globally, EMotorad is present across numerous regions. Along with adding more than 160 dealers in India. EM is currently present across 82 towns and cities in India and abroad.

Speaking on the investment round, Kunal, Co-founder & CEO of EMotorad, said, “We have always believed in the power of e-bikes to optimize health efficiency. We wish to design products and technology in such a way that it places itself in the user’s journey to becoming healthy. An outdoor Peleton of sorts. By doing so, we not only answer their fitness needs but also provide a sustainable and viable mobility option.”

Barbeque Nation begins ‘Big Appetite, Bigger Hearts’ campaign

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October 22, 2022

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As part of its association with “DAAN UTSAV,” Barbeque Nation has announced the launch of the “Big Appetite, Bigger Hearts” campaign. Through this program, Barbeque Nation will serve 40000 underprivileged children at all its restaurants in India, the UAE, Malaysia, and Oman.

Over the upcoming month, two hundred meals will be served to children at each of Barbeque Nation’s 200 restaurants. In addition, Barbeque Nation has partnered with several non-profit organizations domestically and globally to further the cause. Dining at Barbeque Nation is also encouraged to contribute to the cause and participate in the campaign at this time.

On occasion, Rahul Agarwal, CEO of Barbeque Nation Hospitality Limited, commented, “We are delighted to associate with DAAN UTSAV. The Big Appetite, Bigger Hearts campaign is a month-long activity that will run across our network of restaurants which is expected to cross 200 restaurants by November. Through this campaign, we would like to reciprocate the love & support received from our patrons since 2006 by giving back to the community by serving the less privileged. We are confident that guests visiting Barbeque Nation will also join hands in the mega philanthropic campaign by sharing towards this cause.”

Reliance becomes the first Indian firm to post earnings call on metaverse

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October 22, 2022

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Reliance Industries Limited (RIL), the first Indian company to use the platform to interact with its stakeholders, posted the proceedings of its second quarter earnings call on the metaverse.

According to reports, the earning call was produced in collaboration with GMetri, a no-code metaverse creation platform, and can be accessed from any device, including a smartphone. However, accessing it does not need to use AR or VR hardware.

Nearly an hour of results commentary is included in the metaverse content. It includes Group Joint CFO V Srikanth, who covers consolidated financials and a business summary, Kiran Thomas, President of Reliance Jio Infocomm Ltd., who covers Jio Platforms and Digital Services, and others.

It allows analysts tracking the company worldwide to switch between slides and images displayed on several screens following the various buckets in the presentation of the results, they claimed.

One can also download the RIL media release, and the transcript of the media and analyst call in PDF formats.

The RIL metaverse also has a special section comprising quotations from Chairman and Managing Director Mukesh Ambani.

Soothe Healthcare receives ₹175-cr in funding round led by DFC

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October 21, 2022

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Soothe Healthcare, a personal hygiene brand, has raised Rs 175 crore in a fresh round of funding from the US International Development Finance Corporation (DFC) and existing investors.

A91, Symphony, Sixth Sense Ventures, and GII are some of the existing investors in Soothe Healthcare, along with DFC, which has invested Rs 55 crore.

In August 2021, the company raised its final round of funding.

According to a statement, DFC’s investment is in line with its 2X Women’s Initiative and Global Health and Prosperity Initiative, which aims to empower women and give them the financial resources they need to prioritize their needs for hygiene and health.

With these funds, Soothe Healthcare, the company that develops Paree Sanitary Pads, will expand its distribution channels, reach more women in Tier II and Tier III markets, and expand its marketing.

Sahil Dharia, Founder and CEO of Soothe Healthcare, said, “Our endeavour is to provide women with high quality products at a great value. Our value proposition and social impact-driven business model has helped establish Paree Sanitary Pads as a trusted personal hygiene brand across India.”

Abhay Panday, General Partner, A91 Partners, said, “We continue to be believers in the business opportunity in women’s hygiene and Soothe’s relentless focus on building a high-quality Indian brand in the space.”

The flagship product of Soothe Healthcare, Paree Sanitary Pads, was introduced in 2016 through offline FMCG distribution channels. The business has doubled its manufacturing capacity, entered foreign markets, and added new product verticals.

Nazara Technologies CEO Manish Agarwal steps down

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October 20, 2022

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Nazara Technologies’ chief executive officer (CEO), Manish Agarwal, has decided to leave his position immediately to embark on an entrepreneurial journey. He will remain active as a board member.

Nitish Mittersain, the founder of Nazara and the company’s joint managing director, has been promoted to CEO, the company announced in an exchange filing. Since Nazara’s inception in 2000, Nitish and Manish have worked closely.

“Manish and I have worked closely together over the last 7 years to build a strong foundation on which Nazara will continue to grow rapidly in the years to come. I wish him all the best in his future endeavours,” Nitish said.

For nearly eight years, Manish led the gaming company as CEO, guiding it to success in the Indian gaming market. Nazara became the first gaming firm in India to choose an IPO when it was publicly listed in 2021 (IPO).

Manish formerly held executive positions at prominent companies, including Reliance Entertainment, UTV, Microsoft, and Rediff.com.

The gaming company also disclosed Sudhir Kamath’s appointment as the organization’s new chief operating officer (COO), effective October 20. Sudhir has over 20 years of experience in operations, private equity investing, and strategic consulting. Before that, he developed and scaled the 9stacks gaming brand when working as CEO of Sparskills Technologies.

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