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Startup Community Comes Together For Mumbai
Published
7 years agoon
Mumbai has been witnessing heavy rainfalls for the past two days and weather forecasts predict that this could be Mumbai’s longest and heaviest rainfall. Mumbai is currently facing water logged roads, traffic snarls and fallen trees in many parts of the city bringing life to a standstill. Movement of local trains was also affected, while flights were delayed or diverted leaving people stuck in offices, homes and on the roads.
When Mumbai Rains turned Mulund Station into Niagara Falls #MumbaiFlooded #MumbaiRains pic.twitter.com/DP9yYESIIh
— Wassup Mumbai (@Wassup_Mumbai) August 29, 2017
To help out any individual in need many Mumbaikars have opened up their homes and offices to fellow citizens stuck or struggling on the streets. People took to twitter to let others know who to contact or call for assistance or seek shelter in neighboring areas.
Dadar Sikh Gurudwara served food & provided shelter all night to Mumbaikars. Sikhs also sent food to Dadar Stn. & Tata Hospital #MumbaiRains pic.twitter.com/OWGR0UkWoM
— Harjinder S Kukreja (@SinghLions) August 30, 2017
PLZ share this as much ad possible.
Stay safe Mumbaikars #MumbaiRains #mumbaifloods #MumbaiFlooded
Please give lift to ppl who r walking🙏 pic.twitter.com/7GJzCIdsOF— Rahul Suthar (@RahulSuthar27) August 29, 2017
Not wishing to be left behind the startup community also rallied and stepped up, offering free accommodation, food and shelter as Mumbaikars battle the worst rains in over a decade using their resources to help the city’s beleaguered citizens.
World’s largest online bus ticketing platform RedBus announced it was letting stranded Mumbaikars stay at its hotels for free and provided a number for coordination.
#Help for ppl stranded in #MumbaiRains
Call redBus Hotels on 08030970888, we’ll arrange free stay in the nearest hotel. RT to spread word.— redBus (@redBus_in) August 29, 2017
Fellow hotel aggregator startup Treebo also opened their hotels and tweeted the locations where people could stop and rest.
Be safe in the #MumbaiRains. Head to your nearest #TreeboHotel & stay for free. Spread the word. pic.twitter.com/U7GiQ6b3Kh
— Treebo Hotels (@TreeboHotels) August 29, 2017
Fwd: Anyone stuck in Mumbai, call Ayush Goyal on 8130199119. @TreeboHotels across Mumbai available to halt and rest. pic.twitter.com/nvQl4NF6F9
— Shrutin Shetty (@shrutinshetty) August 29, 2017
Search engine giant Google also ran alerts on its search page and provided useful information including a map of the areas affected, a red SOS warning and a link to the official Mumbai police Twitter handle.
Craft beer company Doolally also opened their doors for the people in Bandra, Khar, Andheri West, Colaba and Pedder Road with a promise of tea.
Need a place to hang in Bandra, Khar, Andheri West, Colaba or Pedder Road? Head to @godoolally – doors are open, chai’s on us. #MumbaiRains
— Mahesh Murthy (@maheshmurthy) August 29, 2017
Cab hailing startups and rivals Ola and Uber also promised free rides and shuttles for Mumbaikars. Uber users can use the code ‘MUMBAIRAINS’ for free UberPOOL rides and the company has also canceled dynamic pricing during the heavy rains.
Use code ‘MUMBAIRAINS’ for free uberPOOL rides home, with Mumbaikars heading in the same direction. Stay safe: https://t.co/Cdq02ntVWU (2/2)
— Uber India (@Uber_India) August 29, 2017
Ola has also offered to run free shuttle services in multiple locations to ferry stranded citizens to shelters.
#Mumbai We’re running free Shuttle services to get you safely to your destination from these locations https://t.co/sHfGSoNAl5 #MumbaiRains
— Ola (@Olacabs) August 29, 2017
Brihanmumbai Electric Supply and Transport’s (BEST) official mobile ticketing and pass renewal app Ridlr Mumbai has also used the microblogging site Twitter to keep the citizens updated regarding the weather conditions and traffic congestion in the city.
Mumbai police have also used the platform to its fullest capabilities to help stranded citizens by tweeting useful information and contact details.
If your car is out of fuel/ stranded #Diall100 or 8454999999 or tweet us for free towing till the nearest fuel pump or garage #mumbairains
— Mumbai Police (@MumbaiPolice) August 30, 2017
If you live in Mumbai or are stuck there right now, please be strong and stay safe. Contact the helplines available if you are stuck or need help.
#MumbaiRains | Stay safe, Mumbai. Here are some important helplines that you can reach out to
Track LIVE updates: https://t.co/A0mVRRYPPI pic.twitter.com/QH8skBquTX
— NDTV (@ndtv) August 29, 2017
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Shein’s India Comeback: A Strategic Partnership with Reliance
Published
7 hours agoon
December 25, 2024Shein, the popular Chinese fast-fashion retailer, is set to make a return to the Indian market, but with a significant twist. After being banned in 2020 due to data privacy concerns, Shein has partnered with Indian retail giant Reliance to circumvent these restrictions. This strategic move will allow the brand to continue its operations in India while adhering to the country’s strict data localization laws.
Key Points of the Agreement
- Data Localization: As part of the agreement, Shein will relinquish control of its local operations and data to Reliance Retail. All data collected from Indian customers will be stored within India, ensuring compliance with local regulations and addressing national security concerns.
- Reliance as the Platform Owner: Reliance Retail will own and operate the platform, maintaining complete control over the technology and infrastructure. This arrangement allows Shein to operate purely as a technology partner without direct involvement in local operations.
- Local Manufacturing: Shein will collaborate with Indian manufacturers to produce products under its brand name. This initiative aims to boost the local textile industry and create jobs by establishing a network of manufacturers capable of meeting both domestic and international demand.
- Strict Security Measures: Both parties will adhere to stringent security measures to safeguard user data and comply with Indian laws. This includes regular security audits conducted by government-empaneled cybersecurity auditors.
Background on Shein’s Ban and Return
Shein was among over 300 Chinese apps banned in India in mid-2020 due to rising national security concerns following border tensions between India and China. The Indian government cited issues related to digital sovereignty as the primary reason for the ban. Although Shein’s app was removed from Indian app stores, its products continued to be available through other platforms like Amazon.
With this new partnership, Reliance aims to leverage its extensive retail infrastructure while enabling Shein to re-enter the market under a framework that satisfies regulatory requirements.
Economic Impact and Future Prospects
The partnership not only allows Shein to re-enter the Indian market but also positions it to tap into India’s growing consumer base. According to recent reports, the fast fashion market in India is projected to surpass $50 billion by FY31, outpacing other retail sectors.
Shein plans to provide training and support to over 25,000 local suppliers, integrating them into its global supply chain. By sourcing products locally, Shein aims to reduce its dependence on Chinese manufacturing while boosting India’s textile exports.
Competitive Landscape
The collaboration between Shein and Reliance is expected to shake up the Indian fast fashion market, which has seen competitors like Urbanic, Romwe, and Zudio attempt to fill the gap left by Shein’s absence. With Reliance’s significant market presence and resources, this partnership could redefine competition in the sector.
Conclusion
By partnering with Reliance, Shein aims to mitigate risks associated with data privacy and national security concerns while re-establishing its brand in India. This strategic move not only allows for compliance with local regulations but also supports India’s push for self-reliance in manufacturing and economic growth. However, it remains to be seen how consumers will react to this new model and whether it will be successful in the long run. As Shein prepares for its comeback, all eyes will be on how it navigates this complex landscape while appealing to Indian consumers once again.
Latest News
Athera Venture Partners Secures Major Investment from HDFC AMC
Published
9 hours agoon
December 25, 2024Athera Venture Partners, a prominent tech-focused venture capital firm, has successfully secured a substantial investment from HDFC Asset Management Company (AMC’s) Select AIF FoF I Scheme for its upcoming Fund IV. This strategic move strengthens Athera’s position as a leading investor in India’s burgeoning startup ecosystem.
Key Highlights
- Significant Investment: HDFC AMC’s investment will play a major role in Athera’s Fund IV, which is targeting a corpus of ₹900 crore (approximately $108 million). This funding will enable Athera to expand its portfolio and support emerging startups.
- Focus on Tech-Driven Startups: Athera will continue to invest in promising startups operating in sectors such as Consumer Internet, Enterprise Software, Artificial Intelligence (AI), and other emerging technologies. The firm aims to identify and nurture innovative companies that have the potential to disrupt traditional industries.
- Strong Investment Track Record: Athera has a proven history of backing successful startups, including notable names like redBus, PolicyBazaar, and Pixxel. This track record demonstrates the firm’s ability to identify high-potential ventures and provide them with the necessary resources for growth.
- Founder-First Approach: Athera is committed to supporting ambitious founders by providing them with the necessary resources and mentorship to scale their businesses effectively. This founder-centric philosophy is central to Athera’s investment strategy.
Athera’s Vision for the Future
With the backing of HDFC AMC, Athera is well-positioned to capitalize on India’s growing startup ecosystem. The firm aims to identify and nurture the next generation of innovative companies that can create significant value across various sectors.
By providing strategic guidance, capital, and operational expertise, Athera empowers entrepreneurs to build sustainable and scalable businesses. The firm’s long-term commitment to its portfolio companies and its strong network of industry leaders contribute to its success.
Recent Developments
Athera Venture Partners recently launched its Fund IV following a rebranding from Inventus Capital in May 2022. The firm has already backed six startups through this fund, including:
- Clickpost: A logistics platform.
- CynLr: A robotics startup.
- Ati Motors: An autonomous electric vehicle manufacturer.
- Terra: A gaming firm.
- Hyprbots: An AI finance startup.
- Billion Hearts: A consumer tech startup founded by Koo co-founder Mayank Bidwatka.
The fund focuses on seed and Series A deals, looking to invest between ₹5 crore to ₹25 crore in 16 to 18 companies over the next 18 to 24 months.
Conclusion
The collaboration between Athera Venture Partners and HDFC AMC underscores the growing trend of domestic capital flowing into India’s venture capital space. As more local investors recognize the potential of homegrown startups, firms like Athera are poised to play a critical role in fostering innovation and driving economic growth in India. With a strong investment strategy focused on technology-driven sectors and a commitment to supporting founders, Athera Venture Partners is well-equipped to navigate the evolving landscape of the Indian startup ecosystem.
Latest News
Infosys Invests in 4baseCare to Boost Healthcare Tech Offerings!
Published
2 days agoon
December 23, 2024Infosys, a global leader in next-generation digital services and consulting, has announced a strategic investment of INR 8.3 crore (approximately $1 million) in 4baseCare, a promising healthcare deep-tech firm specializing in precision oncology solutions. This investment underscores Infosys’ commitment to leveraging cutting-edge technologies to address critical healthcare challenges.
About 4baseCare
Founded in 2018 by Hitesh Goswami and Kshitij Rishi, 4baseCare focuses on utilizing advanced genomics and clinical data to personalize cancer treatment. The firm employs AI and analytics to improve cancer diagnosis, treatment, and drug discovery. Their unique approach includes the development of comprehensive genomic panels that enable oncologists to select optimal targeted therapies for patients.
Precision Oncology Solutions
4baseCare’s precision oncology solutions are designed to:
- Enhance Cancer Diagnosis: By integrating diverse genomic data, the platform allows for more accurate identification of cancer types and stages.
- Personalize Treatment Plans: Utilizing AI-driven insights, the startup aims to tailor treatment strategies based on individual patient profiles.
- Accelerate Drug Discovery: The data-driven approach helps streamline the development of new cancer therapies.
Strategic Alignment with Infosys
Infosys’ investment in 4baseCare aligns with its broader strategy to foster innovation and drive digital transformation within the healthcare industry. By partnering with 4baseCare, Infosys aims to enhance its offerings and provide advanced solutions to its clients in the healthcare and life sciences sectors.
Expected Benefits of the Investment
The investment will enable Infosys to tap into 4baseCare’s expertise in precision oncology, allowing it to:
- Develop innovative healthcare solutions that can improve patient outcomes.
- Leverage advanced analytics to reduce healthcare costs through more effective treatments.
- Enhance its portfolio of services aimed at healthcare providers and institutions.
Future Prospects
This strategic move comes at a time when the Indian healthtech startup ecosystem is gaining momentum. Despite facing challenges in fundraising—having raised only $7 billion across 886 deals from 2014 to mid-2024—the sector is witnessing increased interest from investors seeking innovative solutions to pressing healthcare issues.
In recent months, 4baseCare has also made headlines by raising $6 million in its Series A funding round led by Yali Capital, demonstrating strong investor confidence in its potential.
Conclusion
Infosys’ investment in 4baseCare represents a significant step toward enhancing its capabilities in the healthcare sector, particularly in precision oncology. By combining Infosys’ technological prowess with 4baseCare’s innovative solutions, this partnership is poised to make a meaningful impact on cancer treatment and patient care. As both companies work together to advance healthcare technology, they are likely to contribute significantly to improving health outcomes and driving efficiencies within the industry.
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