Google parent Alphabet profit surges on ads and cloud

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February 2, 2022

Alphabet, the parent firm of Google, reported profits that exceeded estimates and nearly doubled in 2021, putting to rest fears of a global slowdown following a particularly profitable holiday season.

Google is still at the hub of online activity, with products like its search engine, ad marketplace, and YouTube video platform giving it global reach.

In the fourth quarter of 2021, the tech behemoth earned $20.6 billion on revenue that increased by 32% to $75 billion, bringing the year’s profit to $76 billion. That was nearly double the projected profit of $40 billion in 2020.

Sundar Pichai, CEO of Alphabet, credited the company’s success to “strong growth in our advertising business… a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”

Alphabet’s excellent results follow Apple’s record revenue from the pandemic era.

“We are slowly seeing a changing narrative take shape for the tech sector as the bullish…guidance by tech stalwarts Microsoft and Apple last week set a positive tone for the Street heading into this week,” Wedbush analysts said ahead of Alphabet’s earnings release.

Despite a global semiconductor shortage and fluctuating pandemic effects that have pulled down other big tech companies, Apple posted record $124 billion quarterly revenue on Thursday.

Even while declining growth shadowed corporations such as lockdown lifestyle champ Netflix, the results exceeded expectations, sending optimistic signals.

Last month, the streaming behemoth saw its market capitalization drop significantly after forecasting only 2.5 million new subscribers in the first quarter, its slowest growth since 2010 and a massive drop from the 55 million subscribers it had over the previous two years as Covid-19 transformed daily life.

Google’s fortunes were considerably different, with Alphabet announcing that its board had approved a 20-to-1 stock split, making shares more accessible to small investors. In after-market dealings on Tuesday, the stock gained more than 7% to $2,995.

“Our investments have helped us drive this growth by delivering the services that people, our partners and businesses need, and we continue to invest in long-term opportunities,” Ruth Porat, CFO of Alphabet, said in the earnings report.

Budget 2022: 75 Digi banking units to be launched

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BRL Editor

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February 1, 2022

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For most of us, banking is as simple as using a phone app or browsing the web. However, this is not the case for a vast number of depositors who must still queue long away from their homes. Even those with Internet connection and understanding are hesitant of using the internet to access new banking products or perform sensitive financial activities, and rightly so.

The Budget announcement by the Finance Minister on digi banking units would help overcome this gap. 75 digital banking units will be established in 75 districts, she said. These banking units will focus on digital transactions and provide a hybrid model for individuals who have yet to or are still experimenting with digital transactions.

Digi banking units will also benefit banks trying to decrease their physical footprint by opening fewer brick-and-mortar branches as part of a ‘light’ banking strategy. It will enable banks to grow regionally, resulting in greater deposits and increased savings and salary accounts in areas that can serve small and new local enterprises.

These units will also be less expensive to set up than a new branch, and they will be able to give a better client experience with the help of technology. The units can also be branded as new-age banks that can assist new consumers with tailored finance management solutions.

Digi banking units also require fewer employees and less maintenance due to technology tools, making them high-yield units for the parent bank. If nothing else, more of these units can promote financial awareness and a positive attitude toward digital banking, which is urgently needed.

Loadshare secures $40 million in a funding round

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BRL Editor

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February 1, 2022

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Loadshare, a logistics platform, announced that it had secured $40 million (about Rs 300 crore) in a funding round headed by Tiger Global.

Filter Capital, 57 Stars, CDC Group and Matrix Partners India, and a few iconic family offices, were among the investors in the round.

The Bengaluru-based firm intends to increase its hiring, develop logistics technologies, and add additional electric vehicles to its fleet. The company promises to be asset-light and specializes in regional freight transportation for digital companies like Swiggy, Flipkart, Amazon, and FMCG corporations such as Hindustan Unilever and Procter & Gamble.

LoadShare said it had expanded its scope of operations since its previous funding round in March 2020, now having a significant presence in quick delivery of food and grocery, as well as dark store operations, in addition to its original business lines of regional ecommerce and partial truckload operations.

The company began operations in the country’s northeast region, delivering things to clients’ doorsteps.

Raghuram Talluri, its co-founder and CEO, claimed his company helps reduce the cost and time it takes to transport goods to customers. It has partnered with small and medium-sized logistics companies to enable its services.

Since the outbreak, the company has expanded its activities from major cities to tiny towns. It transports over 400 tonnes per day in regional trucking across 18 states, delivering over 2,50,000 orders per day on the last mile.

Talluri, Pramod Nair, and Rakib Ahmed founded Loadshare in 2017 to provide various logistical solutions. 10-minute rapid commerce, 30-minute food delivery, intraday ecommerce deliveries, and regional trucks to warehouses are some of these services.

“Now is perhaps the most exciting time to be in supply chain operations in India,” said Talluri. “From quick commerce to enterprise supply chains, the logistics industry is undergoing a massive transformation. We have been able to scale up 5X from our Series B scale due to strong macro tailwinds and staying close to our customers.”

“LoadShare’s technology enables India’s SME logistics providers to act as one, creating a national transport network with low cost and high flexibility,” said Griffin Schroeder, partner, Tiger Global.

Celcius signs financial partnership with STFC to fund vehicles

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BRL Editor

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January 31, 2022

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Celcius, a SaaS-based cold chain aggregator platform, announced a financial partnership with Shriram Transport Finance Company (STFC) to fund cold supply chain vehicles and working capital financing. The two partners will provide light and heavy commercial vehicles to the cold chain industry as part of the agreement, which marks STFC’s foray into the cold supply chain segment.

In addition, the platform announced the launch of the Vahan Vikas Samriddhi initiative, which will provide financial assistance to ambitious regional transportation entrepreneurs.

According to Celcius, the programme will address the supply gap and empower aspiring entrepreneurs to start cold chain businesses to transport items like COVID-19 vaccines, perishable fruits and vegetables, meat, dairy, and other pharmaceutical products across the country, including to remote locations.

Since May last year, the platform claims, it has empowered regional carriers through its Vahan Vikas Yojana.

For the past two years, the cold chain industry has had to work extra to compensate for the lack of assets and infrastructure. According to Swarup Bose, founder and CEO of Celcius, onboarding native entrepreneurs and assisting them in starting their cold chain journey will provide the industry with more assets to work.

“STFC’s expertise in the organised finance sector will help fund upcoming cold chain transporters, enabling them to kick-start their business. On the other hand, Celcius will provide them with their own- FDA-compliant cold chain fleet and increase the visibility of their business through the platform,” he said.

Early last year, the startup secured seed funding from Mumbai Angels Network, as well as Huddle, Lumis Partners, Eaglewings Ventures Alliance Network (EVAN), MaGEHold, Keiretsu Forum, and other investors from Malaysia, Nigeria, and the United States.

“Our tie-up with Celcius will help us collaboratively improve the cold chain logistics sector. Efficiency is at the core of everything we do, and this joint effort will aid us with streamlining vehicle financing, fuel financing and bill discounting solution,” Shriram Transport Finance Corporation said in the statement.

“Vahan Vikas Samriddhi will be an extension of Vahan Vikas Yojana. Businesses can enrol by registering on our platform and uploading their KYC credentials. From there on, STFC will assist them with funds while Celcius will streamline the process of securing RTO registered vehicles as per their requirements. We wanted to ensure that the registration process is as convenient as possible,” Bose said.

Airtel owns a 25% stake in tech startup Lavelle Networks

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BRL Editor

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January 31, 2022

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Bharti Airtel, India’s leading telecom company, has purchased a nearly 25% stake in Bengaluru-based technology startup Lavelle Networks for an undisclosed sum.

Lavelle Networks is a provider of Software-Defined Wide Area Network (SDWAN) solutions to several industries. According to Airtel, its platform has connected several thousands of Indian businesses, including the country’s top financial institutions, to e-commerce networks.

The agreement is subject to any statutory approvals that may be required. On the NSE, Airtel shares were up over 2% at ₹729.25 at noon on Monday.

“We are pleased to support Lavelle’s growth journey and excited to collaborate with them to take their world-class solutions to enterprise customers in the fast growing Indian NaaS market. With our end-to-end solutions play and brand trust, we are uniquely positioned to serve the needs of India’s fast growing digital economy,” said Ajay Chitkara, Director and CEO of Airtel Business.

Airtel Business’ Network as a Service (NaaS) is a digital platform designed to meet the evolving connectivity needs of businesses as they accelerate their cloud and digital adoption and usage.

Airtel will offer software-defined connectivity solutions from Lavelle Networks as part of its NaaS portfolio, as well as co-create many innovations as part of its NaaS platform.

BattRE to expand dealerships, adds two new products

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BRL Editor

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January 31, 2022

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By the end of FY23, electric vehicle (EV) startup BattRE, which has over 300 dealerships across 19 states, plans to invest INR 100 crore to expand dealerships to 700, add two new products to its portfolio, a high-speed electric scooter and a high-speed electric motorcycle, and improve R & D capabilities, according to a press statement.

In comparison to FY22, the company expects a 300% increase in revenue to INR 450 crore in FY23.

BattRE’s founder Nishchal Choudhury said, “The growth of the battery-operated two-wheeler market is yet to reach its inflection point. The next 10 years are going to see an unprecedented rise at more than 100 % CAGR. BattRE is gearing up to position itself and take advantage of this phenomenal demand.”

“While numerous new players have entered the market recently, BattRE has had a head start of 2.5 years in this industry and can offer products that meet the customers’ demands. Soon we’ll be launching an e-scooter with many firsts in the EV market. It will be positioned as a complete family vehicle. We are also in the final stages of testing our electric motorcycle, which is scheduled for launch by June this year,” he added.

BattRE’s expansion goals include Tier 2 and Tier 3 cities, which the business claims are new demand centres that are increasing at the same rate as Tier 1 cities.

Why should SMEs adopt cloud technology to achieve massive growth?

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Amala Sree Murali

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January 29, 2022

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India’s Small and Medium Enterprises (SMEs) have witnessed massive growth in recent years. But many companies are still struggling to expand their business into cities and countries where project inflows could be significantly higher.

Most small and medium enterprises have a smaller IT budget than larger companies, which prevents them from developing internal IT resources such as hardware, software, and IT infrastructure. Even though they put more effort into scaling up their firm using existing resources or innovative methods, the results are still falling short of their expectations based on profit and sales maximization. Most likely, the reason could be outdated IT resources limiting their companies from scaling operations.

Unsurprisingly, the SMEs sector is flourishing. A recent study on SMEs performance showed this trend to continue for an indefinite future. In India, the number of SMEs is estimated to be 42.50 million, with over 6000 items produced, according to the reports of MSME, India. But only a small percentage of enterprises succeed with information technology. Not all SMEs have access to the information technology they need to grow. Businesses can finally develop a sustainable operating environment to grow due to cloud technologies.

Let’s look at why cloud adoption is the best option for digital transformation.

The notable advantages of using cloud technology by SMEs are effortless help desk operations, such as enhancing customer service, optimizing call management, scalability, and cutting operating expenditure. For simplified business maintenance, the cloud service provider takes responsibility for regular upgrades and the addition of new services.

When it comes to storing data, the firm’s lifeblood, the cloud allows the company to store files and access or retrieve them from any connected device. It also features a simple web interface for data transfers, so employees can acquire the information they need instantly and reliably, no matter where they are. The companies can pay for the storage they use and are free from the worries about storage infrastructure maintenance. For example, Microsoft’s OneDrive Standalone 100GB cloud storage costs just ₹140.00 / month.

User-friendly web solutions for organizing work documents are now available with cloud technology. Work-from-home options for employees are easier to implement on cloud-based platforms. They had their apps and corporate data saved or backed up in the cloud for continuing operations. Cloud-savvy companies can enable the team to continue working remotely in the event of disruption like COVID. Because of the cloud, IBM experienced a surge in demand from the healthcare, education, telecommunications, and retail industries. The nationwide lockdown allowed the employees to work from their homes.

With the implementation of cloud technology, the employees can work from anywhere, resulting in increased productivity and a better work-life balance. One of the most significant advantages is that the firms may hire people from all around the world. They can join web conferences, share data, and do other specified activities using a desktop, laptop, tablet, or smartphone.

Undoubtedly, every business is concerned with generating revenue and profit. However, a better customer experience is also crucial. Cloud-based CRM applications can help achieve this by saving information about customers, sales, and business analytics in a highly secure data bank that can also be accessed remotely.

According to the Times of India, 16% of SMBs have reached a certain level of maturity, described as the use of 6 to 14 cloud-based apps. While most of this category has utilized websites, corporate email IDs, and social media to engage with customers, the most mature SMEs have used e-commerce sites or third-party portals to sell online.

Swechha, a Delhi-based social venture, using digital adoption to start “Million Kitchen.” An idea to empower 20+ women chefs from Delhi’s slums to work on a mobile-based home food delivery platform. The “hyperlocal homemade food on the cloud” concept drives the smartphone app.

The adoption of Software as a Service (SaaS) models is aided by public cloud computing. Cloud-based applications are easy to manage. The cloud provider handles upgrades and updates, saving the IT department effort and time. Particularly, it eliminates the risk of losing the business data at any time due to serious issues such as server crashes, power failure, desktop problems, cybercrime, natural disasters, and employee sabotage.

Cloud computing is simple to implement in today’s digital era. One needs to be aware of the compatible features with the company’s needs. Cloud technologies, too, are cost-effective in many aspects. Cloud services include many capabilities that can help businesses succeed by nurturing an innovation ecosystem. Digital transformation is a learning experience. Before committing to a specific technique, the enterprises should experiment with a range of small features.

It’s also essential to provide proper cloud computing training to the employees. There is no urge to use a lot of different features. Instead, pick one or two cloud-based features and evaluate how they help scale the business and correct any flaws. It is required to keep track of the effort and outcomes, so it helps to figure out how much the faults are affecting a company’s growth. By incorporating more agility into the operations through cloud computing, the enterprises can reduce risk and drive growth prospects, and also it will encourage further industry development and economic progress.

Kinara Capital to offer short-term loans for its customers

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BRL Editor

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January 28, 2022

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Kinara Capital, a fast-growing fintech that promotes financial inclusion, announced the availability of a Short-Term Working Capital loan for its existing MSME customers. The Short-Term Working Capital loan would have a 6-12 months tenor. It will be available in the range of INR 50,000 to INR 2 lakhs with rapid turnaround (TAT) and minimal processing fees to enable MSMEs the option of meeting unforeseen business needs.

When dealing with changing business priorities, such as trying to fulfill a new purchase order, printing a new signboard, purchasing raw materials, stocking up on needed inventory, machine repair, or hiring new workers, MSMEs typically run on a tight budget and are frequently challenged with restricted cash flow. A short-term working capital loan can be utilized for a variety of purposes.

“By offering a quicker Short-Term Working Capital loan option to handle sudden business expenses, Kinara Capital is giving MSMEs leverage that can instantly dictate their turnover. We are always looking for new ways to support our customers, and we have made this process even simpler with a one-click request and digital disbursement from our myKinara app,” said Hardika Shah, Founder & CEO, Kinara Capital.

The Short-Term Working Capital loan, available through the vernacular-friendly myKinara app, is designed to help MSMEs meet their short-term company growth needs. The myKinara app, accessible on the Google Play Store, gives small business owners the ability to apply safely and receive collateral-free business loans. In addition, under Kinara’s HerVikas initiative, MSME women entrepreneurs will be eligible for an upfront discount on Short-Term Working Capital loans.

Kinara Capital has aided thousands of SMEs by disbursing over 70,000 loans so far and now has an AUM of over INR 1000 crores. Kinara Capital provides collateral-free MSME loans in over 3000-plus pin codes in Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Gujarat, and Maharashtra, serving over 300 MSME sub-sectors.

Zomato to establish NBFC, invests in two more startups

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BRL Editor

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January 28, 2022

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Zomato Ltd, an online food delivery aggregator, said in a BSE filing on Friday that it will establish a wholly-owned non-banking finance company (NBFC) and invest in two more startups.

The announcement comes when the Company’s market capitalization has dropped.

Zomato, whose stock has dropped more than 35% this month, announced a ₹112.21 crore investment in AdOnMo Pvt Ltd, an advertising technology firm, for a 19.48% stake. The online food aggregator would also invest ₹37.39 crores in UrbanPiper Technology Pvt Ltd, a software services firm, for a 5% stake. According to the filing, Zomato intends to establish the NBFC with a proposed authorized share capital of ₹10 crores.

UrbanPiper is a B2B software platform that allows restaurants to integrate multiple players via a single digital interface. According to Zomato, UrbanPiper processes about 12 million orders per month at over 23,000 restaurant locations across the country. In October 2019, VCCircle reported that UrbanPiper had raised $7.5 million in a Series A round of funding sponsored by Tiger Global Management and Sequoia Capital. According to the filing, the Company had a turnover of ₹6.34 crore in March 2021.

AdOnMo is an advertising technology business that focuses on digital advertising beyond personal devices to outdoor digital screens, Zomato said. According to Zomato, the Company would use AdOnMo’s platform to acquire customers. The Company has a turnover of ₹3.27 crore as of March 31, 2021.

“Both UrbanPiper and AdOnMo investments are synergistic to our core business and will help accelerate growth of these companies which will help in filling impo11ant gaps in the food ordering and delivery ecosystem in India,” Zomato said.

“Pursuant to the approval of the Board, the Company has finalized and executed the relevant agreements for the Proposed Investments. The Proposed Investments are each subject to fulfillment of certain customary conditions precedent and other terms and conditions agreed under the investment agreements,” added Zomato.

OMD Mudramax unveils Bingo, a media buying tool for new brands

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BRL Editor

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January 28, 2022

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Bingo, an outcome-based and AI-backed media buying tool for new brands and business clients, has been developed by OMD Mudramax, part of the DDB Mudra Group.

Bingo identifies platforms and optimizes media spending to help advertisers accomplish their brand and sales goals. The agency stated in a press release that this is done transparently and openly with no human intervention.

Bingo is an ATD (Agency Trading Desk) that unifies all channels, including downstream. However, this isn’t just restricted to media buying platforms like Google Ads, Facebook, Yahoo, and other demand-side platforms (DSPs).

Bingo operates as a centralized control layer that ensures that all other buying platforms are in sync to meet media objectives. Ready-made marketing application programming interfaces (APIs) connect the buying platforms, allowing audience and campaign data to flow in. This historical data is utilized to optimize campaigns, maximize performance, identify problems, and recommend changes overtime to keep the campaign on pace to meet its objectives.

Rammohan Sundaram, country head and managing partner – integrated media, DDB Mudra Group, said, “The ability to buy media in an optimised and agnostic manner by setting clear objectives is what this product intends to achieve. As an advertising agency, we are also looking at acting as technology enablers and partners for our clients. Media optimisation and transparency aren’t as esoteric as they sound but require technological intervention. We want to provide those capabilities to clients and marketers in the simplest manner.”

Abhishek Sharma, partner – digital and lead programmatic, DDB Mudra Group, added, “Merely talking about transparency in the ad tech ecosystem is not enough. The entire demand-supply chain is lopsided towards closed ecosystems, which aren’t exactly built in a manner to facilitate transparency, be that pricing or audience data. It’s time to wrest control and place it exactly where it belongs, with the advertiser in a ubiquitous manner. This product is a sincere step in the direction of demand-side innovation and transparency.”

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