ZFW collects $300,000 in a pre-seed round

By

-

February 5, 2022

ZFW Hospitality, which operates dark kitchens and stores under the ZFW brand, announced that it had raised $300,000 in pre-seed funding from a group of investors, including Epigamia yogurt co-founders Rahul Jain and Uday Thakker; Renee Cosmetics and Beardo co-founders Ashutosh Valani and Priyank Shah; and others.

Arjun Vaidya, founder of Dr. Vaidya’s and India’s leader Verlinvest; Varun Sheth, founder of NOTO ice cream; and Ashika, a financial services business, are other investors. This brings the total amount raised by the company to $415,000.

Rahul Jain, the founder of Epigamia, said, “The model that enables brands to reach more customers in the fastest possible time while solving for customer experiences, high RTOs, and profitability, is well-poised to capitalize on India’s $100+ billion D2C opportunity by 2025.”

The Delhi-based startup plans to use the funds to expand its dark kitchen operations into southern India, hire more people, and develop a strong tech platform. Using its network of tech-enabled dark stores across India, the company works with D2C brands to expand and deliver orders in 30 minutes, two hours and the same day.

Madhav Kasturia, a food and beverage entrepreneur who launched the startup in 2020, said it currently serves about 20,000 orders per month and expects to reach 50,000 by the end of the quarter.

“The pandemic rapidly accelerated the emerging trend of direct orders for a huge segment of the e-commerce space. We’re building a strong dark store network for D2C brands who will ride this wave. ZFW is on track to grow 10x by the end of 2022,” he said.

Arjun Vaidya, the founder, Dr. Vaidya’s, and India lead for Verlinvest said, “ZFW solves a real problem of quick fulfillment for brands using unutilised spaces. It’s a clever business model that makes sense.”

By the end of 2022, ZFW plans to open 500+ dark stores across all major metro and mini-metro markets as part of its next phase.

Dark or cloud kitchens are expected to become a $2 billion industry in India by 2024, according to RedSeer Management Consulting.

Phab targets to earn INR 100 crore in revenue

By

BRL Editor

-

February 5, 2022

0

Phab, a homegrown healthy snacking and protein supplement brand, aims to become an INR 100-crore brand in the next three years, with a presence in at least 30000 retail outlets across India. Revenues are expected to double in 2022, according to the company.

Ankit Chona, the ex-promoter and MD of Havmor ice cream founded the brand in 2019. Chona chose to hunt for the next chance when the company was sold to a Korean conglomerate. As a result, he founded Phab, a healthy snack company.

In 2021, the company experienced a 4X increase in revenue while expanding its retail footprint to six new markets. Within 18 months of its start, the company had spread to 12 cities across India. The healthy snacking market in India is predicted to increase at a CAGR of 25% over the next five years due to rising consumer awareness.

Phab began by selling protein powders and gradually expanded to include snack bars, protein smoothies, and protein bombs. According to the brand, the products are said to be free of preservatives, sugar, and artificial sweeteners.

The company’s retail network expanded across major outlets, including Foodhall, Nature’s Basket, 24Seven, Wellness Forever, Haiko, Modern Bazaar, Ratnadeep, Noble Plus, and others when the lockdown was phased out in 2021. Along with its e-commerce platform, it sells its items on Amazon, Flipkart, 1mg, and Smytten, among others.

“We focus on the insights derived from the consumer database that enables us to orchestrate personalised campaigns through paid, owned, and earned channels, thereby providing an ideal customer experience. Tracking customer feedback enables us to enhance our product development,” Chona commented.

“We further envision scaling up our existing product portfolio and introducing new affordable superfoods. We believe that healthier and cleaner alternatives to the currently available snacking products that are high on unhealthy ingredients must be made available across India through retail and e-commerce channels, especially the tier-2 and beyond cities,” he further added.

Phab made INR 65 lakh in revenue in November 2021 and is on track to make INR 1 crore by March 2022.

Designaren announced its rebranding as Bokaap Design

By

BRL Editor

-

February 4, 2022

0

Designaren, a branding, packaging, and UX/UI design studio announced a rebranding as Bokaap Design. They’ve revamped with a new perspective.

It has since evolved into a branding and product design consulting firm that works with customers in the start-up and corporate space across various industries. Consumer products, SaaS, e-commerce, and other services are among them.

Bokaap is pronounced bow-cap, according to the company, and refers to a Cape Town neighborhood noted for its cobbled streets and colorful homes. Since 2020, Bokaap Design has been an amalgamation of Niraali Parekh’s (founder) personal journey and professional vision to evolve with market shift and digital escalation. According to Parekh, the goal is to take a more strategic approach to design and provide end-to-end product design solutions to clients.

Parekh said, “At the heart of this revamp is the intent to focus on our core strengths owing to our exposure and versatility and delivering products for bridging business goals while meeting user needs. I have taken time to reflect on my journey through Bokaap for my next phase of growth. Some things about us have changed, and others, like our commitment, integrity, and personalised service will always stay the same.”

Tech Mahindra concentrates on platforms, acquisitions in specific areas

By

BRL Editor

-

February 4, 2022

0

Tech Mahindra, the country’s fifth-largest software services firm, will focus on building platforms and developing its intellectual property to gain an advantage over its competitors. According to the senior leaders of the corporation, this will be accomplished through a combination of internal development and acquisitions.

Tech Mahindra acquired CTC and two insurtech platforms in January, bolstering its position as a provider of digital engineering services to insurance companies.

Tech Mahindra’s CEO, CP Gurnani, said the company was now taking a more systematic and analytical approach to acquisitions, emphasizing adding either engineering or domain capability.

“We will do it more to build our engineering capabilities. Or we will acquire businesses where we are now going to do a double click on some of the verticals,” Gurnani said.

“These give us stickiness and a competitive advantage that’s integral, and that’s how we see the industry evolving,” said Vivek Agarwal, president – banking, financial services, insurance and HLS, and corporate development. He explained that this was a combination of technology-enabled platforms and new business models. And the firm will continue to make significant investments in this arena.

“As we look at our strategy going forward, it is going to be a combination of creating platforms internally, as well as making selective acquisitions,” said Agarwal.

According to Emkay Global Financial Services, the CTC acquisition would strengthen TechM’s digital transformation capabilities and expand its offerings to high-end digital engineering services for some of the world’s leading insurance, reinsurance, and financial services companies.

The company’s primary goal is to acquire smaller businesses with unique capabilities to grow up. According to Agarwal, revenue size is an important metric that the organization considers.

India ranks first in digital skills readiness: Salesforce study

By

BRL Editor

-

February 4, 2022

0

According to a global study conducted by Salesforce, India ranks first in digital skills readiness. In the Salesforce Global Index, India came out on top with 66 out of 100, followed by Brazil at 53, Thailand at 48, and Mexico at 47.

The score is based on a survey of more than 23,500 workers in 19 countries. The global readiness score is 33 on average. In India, 72% of respondents said they are learning digital skills very actively to prepare for the future of work. Over 66% of respondents claimed they are well-equipped to develop digital skills in India.

Arundhati Bhattacharya, chairperson and CEO of Salesforce India, said the government’s and industry’s initiatives to raise awareness about digital and the skills required for it are paying off. “The baby boomers are way ahead in adopting digital as it is a matter of survival, and they are reinventing themselves. India has done a few things right and this is a virtuous circle of learning the right things at the right time,” she said.

According to the report, India’s baby boomers are leading the way, with 83% of respondents’ actively’ learning and training for needed skills. As professionals work remotely in a hybrid workplace, the pandemic has pushed digital skilling initiatives.

“Online platforms became available as the digital transformation took root across the world, and the need for more and more skilled people became evident,” Bhattacharya said.

In India, digital marketing has been regarded as the most valuable workplace skill. However, only 39% of respondents rated their digital marketing skills at work as ‘advanced.’

According to IDC, by 2026, the Salesforce economy in India will create 1.3 million jobs and generate $66.4 billion in new business income. Salesforce’s partner ecosystem in India is expected to grow at a rate of $6.5 for every $1 Salesforce makes locally by 2026, according to the report. Only 25% of respondents had advanced collaboration technology skills needed specifically for the workplace, even though abilities in collaboration technology, such as Slack, are recognized as the most important skills needed by organizations today globally.

“The pandemic has enabled us to tap into talent that would have been difficult to access. Collaborative tools are absolutely required, especially to tap into talent in the hinterlands of India,” Bhattacharya said.

Dr Reddy’s signed an agreement to buy Nimbus Health

By

BRL Editor

-

February 3, 2022

0

Dr Reddy’s Laboratories Ltd stated today that it had signed a definitive agreement to buy Nimbus Health, a German medical cannabis company.

Nimbus Health is a privately held, licenced pharmaceutical wholesaler based in Germany specialising in medical cannabis. Dr Reddy’s will pay an upfront payment plus performance and milestone-based earn-outs to acquire Nimbus Health over the next four years.

Nimbus Health, founded in 2018, is one of Germany’s pioneer medical cannabis companies.

“The acquisition will allow Dr Reddy’s to build on Nimbus Health’s strengths and introduce medical cannabis-based medicines as a promising treatment option for patients. The company will be operating under the brand Nimbus Health and as a wholly-owned subsidiary of Dr Reddy’s,” the Hyderabad-based company said in a statement.

Dr Reddy’s stock dropped 1.05% to ₹4,369 on the NSE on Thursday.

TCS to extend New Jersey operations, recruiting 1,000 employees

By

BRL Editor

-

February 3, 2022

0

Tata Consultancy Services, India’s largest IT giant, announced on Thursday that it would expand its operations in New Jersey by recruiting 1,000 new employees by 2023 to fulfil the growing demand from customers to transform their businesses digitally.

TCS will increase the scope of its STEM (Science, Technology, Engineering and Mathematics) and computer science education programmes in New Jersey by 25%, boosting teacher training and student programmes and creating a pipeline of local IT talent for the state to a statement.

“TCS to expand STEM education programs in New Jersey and add 1,000 new employees by 2023,” the company statement said.

TCS’ Edison Business Center in New Jersey serves more than 100 customers and is one of the company’s 30 facilities in the United States.

In the state, the corporation employs over 3,700 people who provide IT and consulting services to various industries, utilizing technologies including artificial intelligence, machine learning, cloud computing, and enterprise software.

“We are thrilled to have Tata Consultancy Services expand its footprint in New Jersey and invest in our future workforce by expanding its STEM education programs,” New Jersey Governor Phil Murphy said.

Commenting on the expansion drive, Surya Kant, Chairman of North America, TCS, noted that New Jersey is an important technology hub for TCS and added, “we are excited to be a part of its growing reputation as a centre of innovation”.

GoZero Mobility unveils investment and expansion goals

By

BRL Editor

-

February 3, 2022

0

GoZero Mobility, a British electric bike manufacturer, announced today that it would expand its operations to North-Eastern India, where it will manufacture premium electric bikes and generate over 100 jobs over the next three years, according to a media statement.

According to the statement, the company also wants to invest $1 million in the North-Eastern region to boost retail flow and set up local assembly units to enable faster/same-day delivery.

According to the statement, local forces will cooperate with e-bikes for tourism in the area due to the investment. The company’s aim, according to the company, is to give work possibilities for its retailers in Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland, and Tripura.

Sumit Ranjan, Co-Founder, GoZero Mobility, said, “India is one the largest 2 wheeler & bicycle market in the world and North Eastern India is a strong market for E-Bikes which so far have remained untapped. We see a significant demand for our products in the region; hence we see this is an appropriate time for us to expand in the North East Market. We anticipate selling 15000 units annually with our presence in the North East.”

The company has also recently launched its new initiative, “Switch,” which has received over 2000 enquiries, indicating that people are willing to switch from traditional bicycles to electric bikes, according to the company.

Chatbot startup Gupshup acquires Knowlarity Communications

By

BRL Editor

-

February 2, 2022

0

Gupshup, a provider of conversational engagement solutions, announced the acquisition of Knowlarity Communications for an undisclosed sum on Wednesday. Over 6,000 clients in 65 countries use Knowlarity’s cloud telephony, contact centre automation, AI-powered voice assistants, and speech analytics technologies. It employs about 400 people.

According to a statement, the acquisition expands Gupshup’s conversational messaging suite and positions it as a leader in voice and video communications.

The deal is scheduled to conclude by the end of February 2022, subject to normal closing conditions being met.

Following the acquisition of Dotgo, which provides an RCS (rich communications services) platform, this is Gupshup’s second acquisition in the previous four months.

Knowlarity is a player in the voice-based conversational engagement market, which is expected to alter contact centres, IVR systems, and smart voice systems by 2024, with a TAM of over USD 18 billion.

BFSI (banking, financial services, and insurance), consumer products, IT/ITeS, and healthcare are the industries that use its solutions.

According to the statement, Knowlarity revenues increased by 50% over the previous year, while worldwide revenues outside India increased by 100%.

“As business-to-consumer engagement becomes conversational, Gupshup is busy enabling more ways for businesses to deliver rich experiences. With the addition of Knowlarity’s products, businesses will now be able to build seamless conversational experiences across both messaging and voice channels,” Gupshup co-founder and CEO Beerud Sheth said.

He further said that Knowlarity is the clear market leader in the voice category. Gupshup’s leadership position will be strengthened by its extensive product suite, which includes cloud telephony and contact centre automation, as well as good customer traction.

“We at Knowlarity are excited to be a part of Gupshup. This will lead to richer experiences for our existing and future customers along with product enrichment and significant geographic expansion opportunities.

“Our customer-centric, innovation-focused cultures are perfectly aligned and we see significant synergies and new products emerging from the combination of two great teams,” Knowlarity CEO Yatish Mehrotra said.

With a valuation of USD 1.4 billion in 2021, Gupshup became a unicorn (businesses valued at over $1 billion) and raised USD 340 million from Tiger Global, Fidelity Management and Research Co LLC, and other prominent global investors.

On the transaction, DC Advisory acted as Knowlarity’s sole financial advisor.

Nokia aims to manufacture more products in India

By

BRL Editor

-

February 2, 2022

0

Nokia, a Finnish telecoms equipment maker, said it is looking into cost-competitive manufacturing prospects in India to serve both the local and global markets.

The company, which competes with Ericsson of Sweden, also stated that it is on pace to meet its production and investment commitments under the Production Linked Incentive (PLI) program.

“Nokia is on-track to fulfill our investment and production commitments under the PLI scheme and we look forward to continued partnership with the Department of Telecommunications (DoT) in expanding the telecom and government procurement market in India for the PLI certified companies… We are always exploring opportunities to expand our manufacturing and add newer products that could be cost-competitively manufactured in India to serve the Indian and global market,” a Nokia India spokesperson said in a statement on Wednesday.

According to the spokesperson, the PLI scheme is an encouraging government initiative to make India a worldwide manufacturing center and transform it into ‘AtmaNirbhar Bharat.’

Nokia’s Chennai factory began producing the Nokia AirScale massive-MIMO (ma-MIMO) solution in December 2020.

“Our Chennai factory is the largest active telecom equipment manufacturer and exporter in the country, making in India for India and the world for 100+ countries. We are particularly pleased to share that we are now also leading the way in cutting-edge 5G equipment manufacturing,” the spokesperson said.

Over the next four and a half years, 31 firms, including Nokia, have committed to invest Rs 3,345 crore. Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Tejas Networks, Akashastha Technologies, and GS India are chosen for the PLI scheme.

CONNECT WITH US