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Nikhil Kamath, Kishore Biyani launch The Foundery to co-build the next generation of Indian entrepreneurs

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India’s startup ecosystem is poised to receive a fresh growth catalyst as Nikhil Kamath and Kishore Biyani have collaborated to launch The Foundery, a first-of-its-kind business launchpad designed to identify, mentor, and co-build the next generation of Indian entrepreneurs.

Conceptualised as a co-founder factory, The Foundery functions as a hybrid of a school, accelerator, and venture studio, while compressing the early-stage startup journey into a 90-day immersive program. Through this structure, participants progress from concept to investible business under the guidance of seasoned mentors, investors, and operators.

“Most of what we call education was built for a world that doesn’t exist anymore. It teaches people to fit in when progress comes from those who don’t. MBAs create managers. We need people who can build, break, fail, and rebuild. The Foundery is for them—the ones who’d rather make their own path than follow someone else’s,” said Nikhil Kamath.

Reinforcing this vision, Kishore Biyani highlighted the experiential nature of the platform.

“This isn’t a classroom or an incubator,” added Kishore Biyani. “It’s a live business-building environment where entrepreneurs learn by creating, testing, failing, and evolving. We’re forging founders through experience, not theory.”

At The Foundery, participants collaborate closely with the Foundery team and mentors to convert ideas into investment-ready ventures. As part of the model, selected participants retain up to 25% equity in the businesses they help create, while successful ventures receive seed funding of up to Rs 4 crore along with continued strategic support after graduation.

Furthermore, The Foundery invites aspiring entrepreneurs, mid-career professionals, and early-stage founders who blend creativity with conviction. To ensure founder-first selection, the screening process prioritises potential over polish by evaluating applicants through idea articulation rounds, problem-solving challenges, and interviews that assess creativity, resilience, and founder mindset.

Importantly, the process focuses on identifying individuals who can grow into founders rather than those who merely excel at pitching.

“We’re looking for people who combine imagination with intent—those who can think differently and act decisively,” said Santosh Desai, who helped conceptualise The Foundery.

Supporting this mission, a diverse group of mentors will guide founders across opportunity design, validation, execution, and scale. These mentors include Vijay Shekhar Sharma (Founder and Operator, Paytm), Kunal Bahl (Founder and Investor, Snapdeal and Titan Capital), Aakash Chaudhry (Education Entrepreneur, Aakash), Mithun Sacheti (Consumer Brand Builder, CaratLane), Varun Berry (FMCG Operator, Britannia), Haresh Chawla (Media and Consumer Investor, True North and Viacom18), Aditya Sehgal (Global Operator, former FTSE 20 COO), Garima Deveshwar Bahl (Leadership and Culture Coach), Jacob Mathew (Design and Innovation Thinker), Ireena Vittal (Board Advisor), Rama Bijapurkar (Consumer Strategist and Author), and Aakrit Vaish (AI Entrepreneur and Investor), among others.

At the conclusion of each cohort, participants present their ventures at a Demo Day, where they pitch to a curated network of investors. Following this, selected businesses secure seed investment and gain access to The Foundery’s broader ecosystem.

Complementing the core business program, The Foundery also runs The School of Life, a reflective stream that explores the emotional and human dimensions of entrepreneurship while focusing on resilience, curiosity, and purpose.

Taxtech startup Prosperr.io raises $4 Mn to scale its B2B sales operations

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Dev Kumar & Manas Gond, co-founders, Prosperr.io

Tax management startup Prosperr.io has raised $4 million (Rs 35.8 crore) in a seed funding round led by Jungle Ventures at a post-money valuation of approximately $15.6 million (Rs 140 crore), cofounder and chief executive Manas Gond said.

In addition, Yatra Angel Network and Sadev Ventures participated in the round, which brings the Bengaluru-based company’s total funding to $5.55 million since its incorporation in 2022.

Founded by Manas Gond and Dev Kumar, Prosperr.io operates in the tax management and compliance segment and delivers technology-driven solutions for both salaried individuals and enterprises. On the consumer front, the startup offers subscription-based tax planning and compliance services that help users optimise deductions and manage multiple income streams efficiently.

At the same time, on the enterprise side, Prosperr.io collaborates with organisations to provide tax-saving employee allowance structures and automated reimbursement solutions. Recently, the company expanded its enterprise product suite by launching an AI-powered reimbursement platform to address rising complexity in corporate tax operations.

According to Gond, the company will deploy the fresh capital to accelerate product development and strengthen its business-to-business (B2B) sales capabilities, as it aims to scale its enterprise platform and expand into adjacent segments such as wealth management.

“We are trying to ensure that whatever financial requirements a salaried individual has—whether taxation or wealth planning—Prosperr is the subscription-based platform to address their day-to-day needs,” Gond said.

Furthermore, Gond stated that the company plans to leverage enterprise partnerships to drive customer acquisition for its consumer-facing business.

Earlier, in June 2024, Prosperr.io raised $1.5 million in a funding round led by Silicon Valley–based angel investor Gokul Rajaram, who has previously backed companies such as Faire, Figma, and Airtable.

Currently, the company employs around 150 people and reports an 80% retention rate among individual users, while it maintains complete retention across its enterprise client base.

Additionally, Gond revealed that the company has secured an asset management company (AMC) licence and has registered as a SEBI investment adviser. At present, Prosperr.io offers mutual fund products and plans to expand into equity and bond investments. Notably, about 25% of its consumer users actively use its wealth management offerings, Gond said.

“Tax is one of the most under-innovated layers of financial infrastructure, and the complexity only compounds as individuals earn across multiple streams and businesses operate global workflows,” said Rishab Malik, partner, seed investments, Jungle Ventures.

Suba Hotels launches Comfort Inn Emerald, strengthening hospitality in Dapoli

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Mubeen Mehta, CEO of Suba Hotels Limited

Suba Hotels Limited has opened a boutique property, Comfort Inn Emerald, in Dapoli, Maharashtra, thereby strengthening its hospitality footprint in the state. In addition, the group already operates hotels in Mumbai, Pune, and Aurangabad, reinforcing its growing regional presence.

Commenting on the opening, Managing Director Mansur Mehta said, “Dapoli has emerged as one of the favourite destinations for travellers in Maharashtra. We intend to provide these discerning travellers with well-thought-out hospitality.”

Meanwhile, outlining the company’s growth strategy, Suba Hotels Limited CEO Mubeen Mehta said, “Though we are headquartered in Maharashtra, we currently have a limited presence in the state. We plan to open several properties in key cities across Maharashtra to consolidate our position as one of the leading hospitality players in the region.”

Located along the scenic Dapoli–Harnai Road, Comfort Inn Emerald, Dapoli, seamlessly blends Konkan’s coastal charm with contemporary hospitality. Moreover, the property features an elegant Anglo-Gothic façade and offers well-appointed rooms across four distinct categories, creating a warm and inviting stay experience for guests.

In addition to comfortable accommodations, the hotel provides a multi-cuisine restaurant, Eat Local, and a rooftop lounge, Aqua Lounge Bar. Together with a range of leisure amenities, these offerings enhance the overall guest experience and position the property as a compelling destination for both leisure and experiential travellers.

VITS Hotels & Resorts expands footprint with VITS Select Nashik hotels & resorts

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VITS Hotels & Resorts Group has announced the launch of VITS Select Nashik Hotels & Resorts, thereby strengthening its presence across major business and pilgrimage destinations in India.

With this expansion, the group continues to reinforce its brand promise by delivering stays that feel comfortable and seamless, while ensuring every property caters to guests who prioritise time efficiency, convenience, and peace of mind during travel.

At the same time, the property offers 24 well-planned rooms, including Deluxe Rooms, Executive Rooms, and Deluxe Triple Rooms. Each room features essential modern amenities that enhance comfort, efficiency, and ease of stay. Designed with functionality at its core, the hotel also provides two banquet halls with a combined capacity of around 250 guests, along with complimentary Wi-Fi, a 24-hour power supply, medical assistance, express check-in services, laundry facilities, round-the-clock hot water, and parking facilities. As a result, the hotel effectively serves business travellers, families, and solo guests seeking a smooth and dependable hospitality experience.

In addition, VITS Select Nashik houses its signature ELITE Restaurant, a pure vegetarian multi-cuisine dining venue. The restaurant serves Indian, South Indian, Italian, Continental, and Chinese cuisines, while also offering Jain food options. With its welcoming ambiance and thoughtfully curated menu, the restaurant caters to both in-house guests and local diners looking for a refined yet comforting dining experience.

Commenting on the launch, Dr. Vikram Kamat, Chairman and Managing Director of VITS Hotels & Resorts, said, “Nashik is one of Maharashtra’s most dynamic destinations, attracting pilgrims, corporate travellers, and leisure tourists alike. With VITS Select Nashik, we aim to offer a smart, value-driven stay experience that reflects our commitment to comfort, efficiency, and reliable service. Our focus has always been to create accessible premium hospitality, and this expansion reinforces our dedication to serving travellers across emerging and high-growth cities.”

Electric air taxi startup Sarla Aviation advances launch with ground trials in Bengaluru

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L-R: Adrian Schmidt, Rakesh Gaonkar, and Shivam Chauhan, co-founders, Sarla Aviation

Aerospace startup Sarla Aviation, which plans to introduce electric air taxis for local commuting by 2028, has announced the start of ground testing for its air taxi programme at its Bengaluru manufacturing facility.

With ground testing now underway, the company has entered its core validation phase. Consequently, the programme has moved beyond digital simulations and laboratory-scale experiments into full aircraft-scale testing.

The company further stated that this milestone places India among a select group of nations actively developing next-generation vertical flight systems at an industrial scale.

Meanwhile, Sarla Aviation disclosed that it has raised a total of $13 million (approximately ₹116 crore) across its pre-Seed and seed funding rounds in 2024. Subsequently, the company closed a Series A round in January 2025, led by Accel and Zerodha co-founder Nikhil Kamath.

Earlier this year, the startup unveiled its prototype air taxi, Shunya, at the Bharat Mobility Global Expo. At the same time, it reiterated its plans to deploy electric Vertical Take-off and Landing (eVTOL) aircraft in Bengaluru by 2028.

Commenting on the latest development, the company said, “Sarla Aviation has commenced ground testing for its half-scale (7.5-metre wingspan) eVTOL demonstrator, SYLLA SYL-X1, at the company’s Bengaluru test facility.”

With a wingspan of 7.5 metres, SYL-X1 stands as the largest and most advanced private eVTOL demonstrator currently under development in India, according to the company.

Notably, the company achieved this milestone in approximately nine months of development and at a fraction of the capital typically required for comparable global programmes. As a result, the achievement reflects a level of engineering scale, execution speed, and systems maturity not previously demonstrated by a private aerospace company in the country.

The current demonstrator functions as a sub-scale aircraft specifically built to validate structural behaviour, propulsion integration, and system-level safety architecture at a meaningful scale.

Unlike academic prototypes or small RC-scale platforms, SYL-X1 incorporates certification intent from the outset. Therefore, it serves as a direct bridge toward Sarla Aviation’s full-scale aircraft with a 15-metre wingspan.

Founded in October 2023 by Adrian Schmidt, Rakesh Gaonkar, and Shivam Chauhan, Sarla Aviation has secured backing from Accel and prominent angel investors. These include Flipkart co-founder Binny Bansal and Zerodha co-founder Nikhil Kamath.

In addition, the company appointed former civil aviation secretary Rajiv Bansal as an advisor in August this year, further strengthening its regulatory and policy expertise.

Sharing the company’s vision, Gaonkar, co-founder and CTO, said, “Our focus has never been on being first, but on building to last and on creating an aviation giant. We are building a platform that can be certified, produced, and safely operated, designed and owned entirely in India. Our goal is to take this new era of aviation technology across the finish line for India and bring it home.”

Beyond aircraft design, the company highlighted that the challenge also involved building a certification-aligned flight-test ecosystem and navigating India’s still-evolving aerospace supply chain.

Looking ahead, Sarla Aviation stated that its technology roadmap targets helicopter-class mission endurance. At the same time, it aims to significantly reduce cost, operational complexity, and safety trade-offs through electric propulsion and integrated systems design.

India’s real estate hits record $10.4 Bn institutional investment in 2025: Report

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Lata Pillai, Senior Managing Director and Head of Capital Markets, India, JLL

India’s real estate sector looks forward to achieving a historic milestone in 2025, with institutional investors projecting to deploy $10.4 billion across 77 transactions. Notably, this performance marks the second consecutive year of record-breaking inflows.

According to a report released by real estate consultancy JLL, this projected figure represents the highest level of institutional investment ever recorded in the sector. Moreover, the estimate reflects a 17% increase over the previous year’s strong performance of $8.9 billion.

This sustained momentum clearly underscores the resilience and growing appeal of India’s real estate market among institutional investors. Consequently, the back-to-back record-setting performance positions India as one of the most dynamic and rapidly evolving real estate investment destinations in the Asia-Pacific region.

In addition, beyond transaction-led investments, 2025 also witnessed substantial platform commitments totalling $11.43 billion. These commitments will deploy capital in phases over the next three to seven years, thereby strengthening long-term market visibility.

Importantly, the bulk of these commitments—approximately $11 billion—originated from a single platform deal established by Digital Connexion. This strategic joint venture brings together Reliance Industries Ltd., Brookfield Asset Management Ltd., and Digital Realty Trust Inc., with a primary focus on data centre development. Meanwhile, investors have earmarked the remaining commitments for upcoming commercial and residential projects across the country.

Commenting on the outlook, Lata Pillai, Senior Managing Director and Head of Capital Markets, India, JLL, said, “Institutional investment in real estate is poised to drive exceptional performance in 2025, with an estimated $10.4 billion in capital deployed across 77 transactions, a historic achievement that builds on our record-breaking momentum from 2024.”

She further added, “For the first time since 2014, domestic institutional investors have captured a commanding 52% market share. Also, the two-fold increase in core asset acquisitions in 2025 demonstrates that investors are not just betting on India’s growth story but are actively building long-term wealth through our stabilised, income-generating properties. This convergence of domestic institutional strength and sustained foreign confidence creates an unprecedented foundation for continued market expansion.”

Wealthtech startup PowerUp Money raises $12 Mn in funding to accelerate financial innovation

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Prateek Jindal, Founder & CEO, PowerUp Money

PowerUp Money, a wealthtech platform focused on mutual fund advisory, has raised $12 million in a Series A funding round led by Peak XV.

In addition, existing investors Accel, Blume Ventures, Kae Capital, 8i Ventures, and DevC also participated in the round.

Notably, the fundraising comes just six months after the company secured $7.2 million in seed funding, highlighting strong investor confidence.

The company will deploy the fresh capital to strengthen its research and advisory capabilities. Furthermore, it plans to scale PowerUp Elite, launch PowerUp Infinite, and expand its financial literacy and investor education initiatives.

Founded in 2024 by Prateek Jindal, PowerUp Money is building a research-led, zero-commission mutual fund advisory platform. Through this approach, the company therefore aims to make high-quality, unbiased investment advice accessible to millions of Indians at a fraction of traditional costs.

As a SEBI-registered Registered Investment Advisor (RIA), PowerUp Money ensures that all recommendations remain aligned with investors’ long-term wealth creation objectives.

Meanwhile, the PowerUp Money app enables users to review their mutual fund portfolios free of cost and actively evaluate portfolio health and performance. Within just eight months of launch, the platform onboarded over 5 lakh users and now tracks more than ₹65,000 crore in assets, underscoring strong early engagement.

At the core of its offerings, PowerUp Elite provides personalised mutual fund advisory directly through the app for an annual fee of ₹999. Specifically designed for serious investors, the subscription therefore covers fund selection, portfolio reviews, rebalancing, asset allocation, and end-to-end portfolio guidance, all backed by institutional-grade research.

Since its launch, PowerUp Elite has onboarded more than 25,000 paid members, thereby emerging as one of India’s fastest-growing subscription-led mutual fund advisory products.

Looking ahead, the company is preparing to launch PowerUp Infinite, a fully managed investment advisory solution. In this context, the offering will deliver dedicated one-on-one advisory, comprehensive goal planning, and personalised investment strategies, all in a transparent and unbiased manner.

Together, PowerUp Elite and PowerUp Infinite will therefore create a comprehensive advisory stack, ranging from app-first personalised guidance to fully managed wealth solutions led by expert advisors.

Over the next three years, PowerUp Money aims to onboard 10 million users, strengthening its role in shaping the future of retail wealth management in India.

Prateek Jindal, Founder & CEO, PowerUp Money, said, “High-quality, unbiased mutual fund advice should not be a privilege. As more Indians participate in mutual funds, the real gap lies in access to credible, research-led advice that helps investors make disciplined, long-term decisions. This fundraiser enables us to strengthen our advisory and research capabilities, scale PowerUp Elite, and launch PowerUp Infinite, as we work towards building India’s most trusted, zero-commission mutual fund advisory platform and help millions of investors invest with clarity and confidence.”

Navendu Sharma, Principal at Peak XV, said, “India needs a technology-led platform to deliver financial advice at population scale. Mutual funds are the natural gateway to financial assets for mass and affluent Indians. PowerUp has a clever yet simple approach to scaling MF advisory. We are excited to see the team deepen their MF suite and, over time, build the dominant wealth and asset management platform for the region.”

Prayank Swaroop, Partner at Accel, said, “What PowerUp Money has built with Elite is particularly compelling. They’ve successfully productised high-quality mutual fund advisory—making it accessible at scale while retaining a high degree of personalisation and quality. That balance is extremely difficult to achieve in wealth management.”

Planet Hotels and Resorts Introduces Kings Mansion, North Goa’s Upcoming Luxury Landmark

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Anand Chatterjee, Executive Director, Planet Hotels and Resorts

Planet Hotels and Resorts, established in 2013 with the launch of Planet Hollywood Beach Resort, Goa, has steadily built a distinctive presence in India’s hospitality sector by delivering experiential destinations rooted in design, entertainment, and personalised service.

Planet Hotels and Resorts further strengthened its footprint in 2022 with the launch of Planet Hollywood Thane City, a contemporary lifestyle hotel positioned in Mumbai’s most promising destination. The brand continued its expansion momentum with the launch of its Manali hotel in 2025 under the Beatle branding, reinforcing its growing presence across key Indian markets.

The Group now presents Kings Mansion, an ultra-luxury hospitality venture scheduled to open in early 2026 on the iconic grounds of the former Kingfisher Villa, North Goa. The property will feature 48 ultra-luxury rooms and a carefully curated resort and spa experience that brings together contemporary elegance and immersive travel.

The group also reimagines this legendary address through exotic design, intuitive service, immersive dining, and refined leisure offerings, including a pool, bar lounge, beach deck, gym, salon, and the signature wellness sanctuary Ojas Sva. Every detail is designed to create meaningful experiences defined by comfort, sophistication, and connection.

Anand Chatterjee, Executive Director, Planet Hotels and Resorts, said, “Kings Mansion represents a thoughtful new expression of luxury, focused on personalised experiences that leave a lasting impression.”

Claude Pinto, General Manager, added, “Our vision is to create a stay that feels intuitive, immersive, and unmistakably luxurious, while honouring the legacy of this iconic location.

Planet Hotels and Resorts continues its forward-looking expansion journey with new destinations planned for Tirupati, Udaipur, and Hyderabad in 2026.

Poised to become one of Goa’s most distinguished luxury destinations, Kings Mansion promises a transformative hospitality experience when it opens its doors in 2026.

GABIT acquires clean nutrition brand Näck to expand longevity-focused portfolio

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Arpana Shahi & Gaurav Gupta, co-founders, GABIT

GABIT, a longevity-focused, full-stack healthtech platform, has acquired clean nutrition brand Näck for an undisclosed sum, thereby extending its footprint beyond health tracking into supplements and nutrition-driven outcomes.

Through the acquisition, GABIT has integrated Näck’s supplement portfolio into its broader ecosystem, which already includes continuous health tracking, diagnostics, personalised fitness and nutrition programmes, AI-powered health coaching, and longevity-focused skincare solutions.

Following the transaction, Näck’s supplements will become part of GABIT’s platform, enabling users to directly monitor how supplement intake influences measurable health outcomes such as sleep quality, recovery, and metabolic performance.

Founded in 2020 by Malin Petersson, Sahil Marwaha, Philip Göransson, Kelsang Dolma, Anthony Igoe, and Ricky Teja, Näck operates as a Swedish-Indian wellness brand built around transparent, science-backed nutrition.

The brand formulates its supplements in line with recommended dietary allowances where applicable and holds Informed Choice certification. Meanwhile, GABIT, founded in 2022 by Gaurav Gupta and Arpana Shahi, runs a full-stack health platform anchored around four core pillars—fitness, sleep, stress, and nutrition. Its titanium-built Smart Ring continuously tracks health metrics, while its software layer translates this data into personalised insights related to activity, recovery, and dietary choices.

Beyond wearable-based tracking, GABIT also integrates smart scales, continuous glucose monitoring (CGM) data, and detailed blood tests. As a result, users can track more than 150 health markers and biomarkers covering sleep, recovery, nutrition, metabolism, stress, and long-term health trends within a single platform.

“With this acquisition, we’re bringing nutrition into the same measurable loop as movement, sleep, and recovery,” said Gaurav Gupta.

“Näck stands for nutrition that is simple, transparent, and rooted in science. At GABIT, we’ve always believed that health is interconnected. This acquisition is a natural next step, because the impact of what you put into your body should be just as measurable as how you move, sleep, recover, and live. When supplements, diagnostics, and continuous tracking come together, health stops being vague and starts becoming measurable.”

Arpana Shahi said the unified platform would allow users to clearly connect daily habits with tangible outcomes.

“Good habits feel even better when they show up in your data. Imagine taking a supplement for better sleep and actually being able to measure its effect on your deep sleep. Or adjusting your nutrition through supplements and seeing tangible changes in recovery, energy, or metabolic health. That’s the future of health we’re building.”

Brookfield India REIT taps debt markets with ₹2,000-Cr sustainability-linked bonds

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Brookfield India Real Estate Trust has raised Rs 2,000 crore through its maiden sustainability-linked bond issuance, with the International Finance Corporation (IFC) participating as an anchor investor, according to people with direct knowledge of the development.

In addition, several domestic and international institutional investors subscribed to the bonds. The listed REIT will pay a quarterly coupon of 7.06% on the five-year tenure bonds.

Notably, this marks Brookfield India REIT’s second capital raise in less than two weeks through a combination of equity and debt instruments. Earlier this month, the REIT raised Rs 3,500 crore via a qualified institutional placement (QIP), drawing interest from both domestic and global investors.

Meanwhile, last month, Brookfield India REIT signed an agreement to acquire Ecoworld, a 7.7 million sq ft office campus spread across 48 acres in Bengaluru, for Rs 13,125 crore. The REIT plans to deploy a portion of the QIP proceeds to fund this acquisition, which is the largest transaction announced by an REIT in India to date.

With the latest bond issuance, Brookfield India REIT has raised a cumulative Rs 10,000 crore over the past 12 months. At the same time, Indian REITs are increasingly turning to bond markets to finance acquisitions and development, thereby diversifying their capital structures amid sustained demand for office leasing.

Separately, Brookfield Asset Management recently announced plans to invest $1 billion to develop Asia’s largest global capability centre (GCC) on a six-acre land parcel in Powai, Mumbai. The proposed development will offer 2 million sq ft of leasable space and will serve a multinational bank under a 20-year lease tenure.

US banking major JP Morgan is likely to sign the lease agreement for this facility, said people with direct knowledge of the development. Brookfield declined to comment on the matter.

Brookfield remains one of India’s largest office owners and operators, managing approximately 55 million sq ft of office space across seven cities. Currently, the REIT’s portfolio comprises 29.1 million sq ft of total leasable area, including 24.6 million sq ft of operational space, 0.6 million sq ft under construction, and an additional 3.9 million sq ft earmarked for future development.

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