Pune, April 2024: As the entrepreneurial landscape continues to flourish in India, navigating the legal complexities of establishing a startup demands precision and insight. In response to this growing need, Rest The Case, a leading platform dedicated to providing comprehensive legal insights and solutions has announced a special legal session titled “Building your Startup in India: What Legal Steps Do I Need to Take?” aimed at equipping entrepreneurs with indispensable legal knowledge.
Scheduled for April 27th, 2024, this virtual event promises to unravel the intricate web of legal procedures crucial for startup success. From company registration nuances to intellectual property protection strategies, attendees will gain comprehensive insights into the legal framework underpinning India’s business landscape.
“The journey of entrepreneurship is thrilling, yet laden with legal intricacies, “remarked Shreya Sharma, Founder & CEO at Rest The Case. “Our aim with this session is to demystify the legal landscape, empowering startups to navigate with confidence and compliance.”
Key highlights of the session include:
Legal Aspects Unveiled: Importance of integrating legal considerations into the startup journey.
Company Registration Decoded: Comprehensive guide to different business structures and registration processes.
Compliance Roadmap: Navigating regulatory obligations, licenses, and permits seamlessly.
Intellectual Property Shielding: Proactive strategies to safeguard startup assets through patents, trademarks, and copyrights.
Contract Crafting Mastery: Expert guidance on drafting and reviewing pivotal contracts.
Taxation and Financial Compliance: Essential insights into tax registration, GST compliance, and financial reporting.
Employment Law Insights: Understanding labor laws and HR compliance for seamless team building.
Risk Assessment and Mitigation: Identifying legal risks and deploying effective mitigation strategies.
Interactive Q&A: Direct access to seasoned legal professionals for personalized guidance.
With registrations now open, aspiring and existing entrepreneurs can seize this opportunity to fortify their legal acumen and chart a course for sustainable growth. Don’t miss your chance to unlock the legal keys to startup success in India. The session is scheduled virtually on April 27th, 2024 to empower entrepreneurs towards informed entrepreneurship!
RING(formerly known as Kissht) plans to utilize Trifecta Capital’s debt facility for on-lending and growing its balance sheet loan book.
Mumbai, 17th April 2024: RING (formerly known as Kissht), one of the leading consumer lending fintech companies in India raises INR 100 Crores in venture debt from Trifecta Capital, one of the largest venture debt players in the ecosystem. With this funding, Trifecta is extending its partnership with founders Krishnan Vishwanathan, Ranvir Singh, and the RING team, for a second time and with a larger cheque. The firm had first backed RING in early 2022 with a debt of Rs. 50 crores.
The company has built a scaled, digital-first consumer lending business with a focus on financial inclusion, offering personal credit to salaried and self-employed customers across Tier 1, Tier II, and Tier III cities. Equipped with an in-house NBFC license and with access to third-party balance sheets, RING has been on an incredible growth trajectory surpassing an AUM of Rs. 3,000 crores for the financial year ending March 31, 2024 and having served over 1 crore unique borrowers. RING will utilize the Trifecta debt facility for on-lending and growing its balance sheet loan book.
Since Trifecta’s first investment in RING, the company has grown the AUM and revenues multifold. Trifecta’s conviction in the company stems from the founders’ deep understanding of the lending segment, their ability to tap capital sources across market cycles and successfully steer the business from small ticket lending to larger, medium to longer tenure loans, controlled CAC and high customer retention ratios in the business while managing loan APRs and portfolio credit quality safely within the regulatory benchmarks.
Quote from Abhijit Joshi, Director, Venture Debt at Trifecta Capital
“We are excited to further our commitment to RING (Formerly known as KISSHT), with our top-up debt investment of Rs. 100 crores in the company this year. RING, led by a robust founding and management team, has demonstrated that a consumer lending business can be built at a meaningful scale, despite a highly dynamic regulatory environment and variances in supply of capital. RING has achieved all this while maintaining strong unit economics and keeping credit costs under check”
Quote from the founder Krishnan Vishwanathan
“Building upon our recent achievements, we’re delighted to announce our renewed partnership with Trifecta Capital for the second time. OnEMi Technologies Pvt Ltd, the parent company of RING, has seen a remarkable 100% growth in AUM in FY24 and boasting a subscriber base of over 10 million. This underscores our commitment to excellence and innovation, evident in our vast network of 1.2 lakhs+ partners and the fact that over 90% of our business comes from repeat customers. Our platform’s seamless accessibility and efficient solutions drive us forward in the fintech sector. RING’S continued pursuit of innovation-led growth and dedication to customer experience is balanced by our unerring focus on unit economics and risk quality which is borne out by strong financial fundamentals.
This infusion of venture debt from Trifecta Capital not only validates our success but also provides the financial flexibility needed to further our mission of promoting financial inclusion across India. Together, we are poised to redefine the future of finance and empower millions towards a brighter, more inclusive tomorrow.”
About Trifecta Capital
Trifecta Capital is India’s leading alternate financing platform for startups across their life cycle through its three offerings – venture debt, growth equity, and financial solutions. With tailor-made financing solutions, Trifecta Capital serves market leaders and category creators spanning domains like B2B, Consumer Services, Consumer brands, E-commerce, Mobility, EdTech, AgriTech, FinTech, CleanTech, Software, and Healthcare.
Trifecta Capital has raised nearly INR 5,000 crores across three Venture Debt Funds and one Growth Stage Equity Fund over the last 9 years. It has also built a customized technology and advisory platform with cumulative managed capital of more than INR 13,000 crores to date, to support fast-growing startups. Since its inception, Trifecta Capital has made venture debt investments of nearly INR 5,000 crores across 175+ unique businesses including 20+ unicorns, and aims to be the financial partner of choice for leading new economy businesses in India.
Trifecta Capital’s venture debt portfolio of companies has cumulatively raised USD 13.5 Bn of equity and is cumulatively valued at USD 67 Bn. The firm has a high-quality team of professionals across its offices in all the major hubs of start-ups i.e. Bengaluru, Mumbai, and NCR. Trifecta Capital also won the IVCA award for Best Overall Performance in the Venture Debt Category earlier this year.
About RING
RING, a consumer-first, consumer credit app launched by OnEMi technologies, offers long- term and short-term loans. Customers can avail of multi-tenured loans of up to Rs.5 lakhs at the lowest interest rates and flexible repayment options. RING also offers flexibility to make both online and offline payments. Customers can use RING to pay for transactions, pay bills and pay through UPI. RING also has over 10 lakh merchants that help them acquire customers across the country. The company has built a robust loyalty and rewards program for consumers to improve customer stickiness.
About KISSHT
KISSHT is a financial technology platform that enables instant, seamless credit for consumers to make purchases at digital points of sale (online and offline). Established in 2015, KISSHT is a generation next financial technology company that strategically helps individuals to enhance their borrowing capacities. They have partnered with non-banking financial institutions and created an ecosystem to facilitate easy loans for our customers.
Today they have networked with 3000+ offline merchants and 50+ online stores in about 40 cities PAN India.
About ONEMi Technology Solutions Pvt. Ltd.
ONEMi Technology Solutions Pvt. Ltd. came into existence in the year 2015, intending to open up new vistas in consumer credit financing for online as well as offline purchases using the latest technology as an aid. Their constant efforts to financially empower our customers led them to be present across various segments of business like Online Purchase Loan, Personal Loan, and our newest offering – “Small Business Loans.” It is engaged in merchant acquisition / tie-ups, development of credit gateway technology, assessing the creditworthiness of the customers. Onemi Technology uses its proprietary software, algorithm, and credit marketplace platform for provisioning instant consumer loans through our financing partners.
April 15, 2024, Mumbai: Cignels, a mobile network operator in America, announces a groundbreaking solution for Indian travelers visiting the United States of America, offering a special discounted rate of USD 12 per month with unlimited data. The company, Co-founded by an alumnus of Mumbai University, provides an innovative solution to students and tourists in acquiring a US phone number from the comfort of their homes.
What sets Cignels apart is their modern approach which ensures travelers can activate their US number with one click on the link that is delivered to them on their email, eliminating the need to immediately rush to purchase a physical SIM card upon landing. Powered by a major USA cellular carrier and backed by the esteemed University of Massachusetts, Cignels provides reliable connectivity and hassle-free experience to their customers.
The partnership with the University of Massachusetts underscores our commitment to reliability and credibility in providing seamless connectivity for Indian travelers visiting the USA. We started this company to address common pain points faced by many travellers. With our innovative e-SIM service, we eliminate these challenges by offering easy-to-install and activated eSIM cards,” said Aakash Kolekar, Co-Founder of Cignels. ” Our goal is to simplify the travel experience, especially for students, by offering unlimited data and texts at a flat rate, ensuring their connectivity needs are met without any extra costs.”
Cignel’s e-SIM network offers higher data speeds, resilience, and reliability, ensuring a lag-free network experience. The service provides nationwide coverage, empowering customers with operational e-SIMs upon landing in the US. The unlimited data and text plan caters specifically to students and travelers, making it an ideal companion for their journey abroad and that too at a reasonable price.
The funds will be used to grow R&D, marketing and offline presence.
The company’s valuation has grown by 2x in the past 10 months.
16th April 2024, National: New Delhi-based Varco Leg Care, the world’s first dedicated leg care brand, has raised a cumulative of US$ 0.5 Million (over INR 4.5 Cr) in seed funding while doubling its valuation within a span of only 10 months. The recently concluded seed round was led by Sunicon Maiden Fund, an early-stage venture fund curated by Sunicon Ventures.
Varco Leg Care will be utilizing the newly acquired seed capital to strategically bolster capabilities across various fronts, which include enhancing offline touchpoints, advancing research and development (R&D) initiatives, and scaling and optimizing marketing efforts. Additionally, the company would be allocating significant funds and resources in the near future towards enhancing its credibility furthermore with expansion of its existing IP portfolio (4 patents have been filed by Varco till date), as well as publishing its in-house conducted clinical studies’ findings in various reputable medical journals.
Speaking about the latest fundraise, Anondeep Ganguly, CEO, Varco Leg Care said, “We are elated to announce our seed fundraise led by Sunicon Maiden Fund, signifying their strong vote of confidence in Varco’s groundbreaking approach to leg health management. This capital infusion serves as a major milestone in our growth journey; it not just propels us in boosting our customer base, supply chain and offline visibility, but will also be playing a pivotal role in advancing our steadfast commitment to presenting robust clinical evidence-based research and solutions. We are not only emphasizing and focusing on extensive clinical trials but also leveraging a pioneering low-friction technology to establish and validate that evidence. Going ahead, as we grow and scale exponentially and remain committed to delivering superlative leg health solutions, we shall continue placing the needs of our valued customers at the heart of our R&D initiatives”.
Saloni Jain, Founding Partner, Sunicon Ventures said, “We are proud to back Varco Leg Care, India’s first digital-native consumer healthcare brand revolutionizing leg care. With a team boasting 30 years of research and a strong IP portfolio, Varco is set to transform diabetic foot and varicose vein treatment. We at Sunicon are excited to support Varco’s mission in reshaping healthcare accessibility and outcomes across India”.
As a digital-native consumer healthcare brand, Varco Leg Care has witnessed phenomenal growth of late, with a staggering 110 per cent increase in the brand’s revenue over the past one year. The credit for such remarkable growth can be majorly attributed to the introduction of Varco’s flagship low-friction self-care technology, which enables users to actively self-diagnose their leg health, enhances personalized recommendations and improves treatment adherence for consumers.
With a 42 per cent customer retention rate, Varco Leg Care has successfully earned the trust of consumers across India and the world. Since its inception in 2022, Varco has served more than 5 lakh customers, and expanded its presence to 3000+ medical stores across Mumbai, Bangalore, Delhi, and other Indian cities. Their products have already gained traction in Walmart USA, and are available pan-India at organized retail outlets such as Guardian Pharmacy, Noble Plus, Wellness Forever, and others. Whereas on the online front, Varco Leg Care sells its products through its own website, as well as via marketplaces like Amazon, Flipkart, 1MG, etc.
About Varco Leg Care
Varco Leg Care is the world’s first leg care dedicated brand, committed to revolutionizing leg health management through innovative digital solutions. By leveraging cutting-edge technology and clinical expertise, we empower individuals to take control of their leg health, promoting early intervention and proactive self-care.
Poised to lead globally in leg care, Varco has created a wide range of leg care products that address the end-to-end leg health needs of customers worldwide. Our high-quality, science-backed products target leg health issues like varicose veins, diabetic foot, foot ulcer, restless leg syndrome, and so on. We have also launched the world’s first artificial intelligence-powered leg health test, which harnesses the power of AI and neural algorithms to provide users with unprecedented levels of personalization in addressing their existing leg health conditions.
National, 16 th April 2024: The e-commerce sector, a driving force in modern commerce, continues to demonstrate resilience and growth. WorkIndia, a leading tech-driven blue-collar recruitment platform reveals key insights into its intricate dynamics across the key aspects of this sector’s composition and growth trajectory.
In terms of geographic concentration, Tier 1 cities lead the e-commerce landscape, collectively contributing 45% to sectoral growth. Cities like Delhi and Mumbai stand out significantly with contributions of 33.4% and 18.9% respectively, highlighting their pivotal roles as e-commerce hubs.
Bengaluru (12.4%) and Pune (9.7%) also make notable contributions, reflecting their status as key tech centers. Tier 2 (26.7%) and Tier 3 (28.3%) cities, although representing a significant portion (54.9%) of the market, show potential for further penetration and growth, presenting opportunities for expansion and investment. This underscores the concentration of e-commerce activity in major urban centers, with potential for development in smaller cities and towns.
The data also sheds light on the demographics of e-commerce users, revealing notable trends across different age groups. The age group of 18-29 emerges as a dominant force with a substantial proportion of 65.06%, indicating the strong engagement of younger individuals in online shopping activities. The 30-39 age group follows suit with 15.59%, demonstrating sustained interest among young adults.
However, participation gradually declines with age, with the 40-49 and 50+ age groups representing smaller percentages of 4.11% and 1.31% respectively. This trend underscores the preference for e-commerce among younger age brackets, aligning with their tech-savvy nature and digital adoption tendencies.
Marketing takes the lead with a substantial share of 21.32%, underscoring its pivotal role in promoting and selling products or services online. Business Development closely follows at 18.40%, emphasizing the sector’s focus on expanding market reach and cultivating strategic partnerships.
Software Developers constitute 15.47%, highlighting the crucial role of technological innovation and infrastructure in enhancing e-commerce platforms. Accounts and Distribution & Merchandising sectors contributed significantly with 37.70% and 4.33% respectively, showcasing the importance of financial management and streamlined supply chain operations. This distribution underscores the multifaceted nature of e-commerce, where diverse skill sets converge to drive growth and competitiveness.
Commenting on the same, Mr. Nilesh Dungarwal, Co-Founder and CEO, WorkIndia said, “The rapid growth of the e-commerce industry not only signifies technological advancement but also brings tangible benefits to blue-collar workers. This sector’s expansion creates a myriad of job opportunities across various roles, from logistics and warehouse operations to delivery services, providing meaningful employment avenues for blue-collar workers. Additionally, e-commerce platforms empower these workers with flexibility, accessibility, and the potential for career growth within a dynamic and evolving industry. As the e-commerce landscape continues to flourish, we are committed to fostering an inclusive ecosystem that uplifts and empowers blue-collar workers, driving economic prosperity and societal progress.”
These insights into the evolving dynamics of the e-commerce sector provide valuable guidance for businesses and stakeholders, shaping strategic decisions and fostering sustainable growth in this dynamic industry.
67% GenZ job seekers prioritise learning and growth opportunities over salary packages; Genz is highly optimistic in finding Internshala Jobs, the jobs arm of career-tech platform, Internshala, has released a pioneering report titled “Navigating GenZ Workplace Expectations in 2024: Insights for HR Professionals”. This report provides an in-depth exploration of the expectations, aspirations, and preferences of GenZ individuals as they enter the workforce, offering invaluable guidance for HR professionals navigating this new landscape.
The report sheds light on key motivating factors for GenZ job seekers, revealing that 67% prioritise learning and growth prospects offered by organisations. This highlights their strong desire for continuous skill enhancement and career advancement. Salary packages rank as a priority for 25% of GenZ, while only 4% are motivated by company culture, and 3% by brand reputation. Additional perks like health insurance and ESOPs are a motivator for just 1% of applicants.
The report also highlights GenZ’s optimism in finding a job, with 52% feeling highly optimistic and an additional 23% somewhat optimistic. Work-life balance emerges as a top priority for 84% of GenZ job seekers, with 45% favouring a hybrid work model, 31% preferring remote work, and only 21% opting for traditional in-office setups.
Employer preference among GenZ is diverse, with 40% gravitating towards established brands, 30% showing interest in startups, and 21% preferring small to medium-sized enterprises (SMEs). The report also emphasises the importance of reputation management, with 39% of GenZ job seekers relying on review platforms like Glassdoor to assess potential employers, and 30% relying on the company’s website and online presence.
Furthermore, nearly half (49%) of GenZ individuals view job hopping positively, indicating a willingness to explore diverse career paths. Achieving work-life balance is cited as the primary measure of career success for 48% of GenZ job seekers, followed by financial stability at 29% and career advancement at 12%.
When evaluating potential employers, GenZ focuses on career development opportunities (42%), promotion prospects (38%), and organisational growth trajectory (14%). Access to professional development and advancement opportunities is a priority for 41% of GenZ job seekers, followed by job security (34%) and flexibility in working hours (25%).
GenZ’s perception of AI varies, with 57% viewing it as a valuable asset and 13% anticipating significant changes in job roles. Diversity and inclusion are highly important for 67% of GenZ job seekers, while 70% prioritise companies with sustainability efforts and environmental policies.
GenZ Workplace Report
On Internshala Jobs, peak job application period for GenZ was observed from May to August, with management roles (45%) and engineering roles (32%) being the most popular. Business Development (Sales) and Human Resources (HR) were the top job profiles, and Delhi-NCR emerged as the leading region for job seekers.
Overall, the report provides valuable insights into GenZ’s expectations and preferences in the workplace, highlighting the need for employers to adapt their recruitment and retention strategies accordingly.
Krishna Raghavan, Ex-Chief People Officer (CPO), Flipkart, commented, “As HR leaders, we must deeply acknowledge the profound emphasis GenZ places on continuous learning and personal growth. The fact that 67% of GenZ job seekers prioritise these opportunities speaks volumes about their hunger for development. It’s not just about offering training programs; it’s about creating a culture that thrives on curiosity and innovation, where every individual feels empowered to grow and evolve professionally. By nurturing this thirst for knowledge within our organisations, we not only attract top-tier GenZ talent but also cultivate a workforce that’s primed for success in the ever-evolving landscape of tomorrow’s workplace.”
On rolling out the report on GenZ’s job Expectations, Sarvesh Agrawal, Founder and CEO, Internshala Jobs, said “With the rapid influx of GenZ job seekers into the market, it has become increasingly crucial for HR professionals to delve deeper into understanding the nuanced expectations and aspirations of this demographic. To capture a comprehensive understanding of the preferences, motivations, and priorities of this burgeoning talent pool, we have conducted this survey, encompassing insights from over 4700 actively job-seeking GenZers. This report offers invaluable insights into the mindset of GenZ individuals as they navigate the landscape of employment opportunities.”
He added, “One key highlight for me in the report is that as we navigate the ever-evolving terrain of GenZ expectations, one thing remains abundantly clear, that is, the importance of technology and its impact on the future of work. With 57% GenZers viewing AI as a valuable asset and 11% perceiving it as a transformative force, it is evident that GenZ individuals embrace innovation with open arms. As HR leaders, it is crucial that we harness this enthusiasm for technology, leveraging AI solutions to streamline processes, drive efficiency, and unlock new opportunities for growth. By embracing a tech-forward approach, we would not only stay ahead of the curve but also would be able to position our organisations as trailblazers in the digital age, attracting top-tier GenZ talent who are eager to shape the future with us.”
Reflecting on the insights in the report, Megha Goel, Chief Human Resources Officer (CHRO) at Godrej Properties Limited, said, “Reflecting on the insights from the survey, it’s evident that GenZ individuals are driven by purpose and values that transcend mere job titles and salary packages. They expect their roles to add true and long-term value to all their stakeholders like business, customers, employees, communities, and environment at large and are keen to work for organisations who deliver these promises through affirmative on-ground actions. As HR professionals, it falls upon us to champion these values within our organisations, not just as buzzwords but as guiding principles that shape our culture and identity. By actively promoting diversity, equity, and sustainability initiatives, we not only attract GenZ talent but also cultivate a workplace where every individual feels valued, respected, and empowered to make a meaningful difference. This isn’t just about recruitment; it’s about shaping the future of work in a way that’s inclusive, ethical, and truly transformative.”
New Delhi, 15th April 2024 – Konkan Ratnagiri Bhoomi Agro Producer Company owned and managed by Ratnagiri Farmers, today launched Aamoré – a new D2C brand of Alphonso mangoes owned by smallholder farmers. With a community of over 300 smallholder farmers at its core, Aamoré aims to revolutionize the global perception of Indian agriculture and the iconic Alphonso mango.
Through extensive collaboration and innovative practices, Aamoré brings the highest standards of quality and freshness to Alphonso mango lovers around the world. The initiative is focused on empowering local farmers by equipping them with the tools and knowledge necessary to produce export-ready fruit. This includes the establishment of state-of-the-art packhouse operations, sophisticated scanning technology for each mango, strategies to eliminate spongy tissue, and comprehensive traceability from farm to fork.
In the pilot year, Aamoré Alphonso mangoes are making their debut on the world stage, reaching consumers across the USA, Europe, the UK, Abu Dhabi, and select cities in India. The global launch for a product of this nature symbolizes a confident step forward for Indian smallholder farmers. Currently, customers Delhi NCR can order Alphonso mangoes from aamore.co.in.
Speaking on this landmark occasion, Ravish Chavan, Chief Program Officer, Konkan Ratnagiri Bhoomi Agro Producer Company said, “Aamoré is all about the innovation and empowerment that we strive to instil in our farming community. It is a testament to what Indian farmers can achieve with the right support and resources. By presenting Aamoré on the global market, we’re not just offering a premium product but also challenging the traditional confines of smallholder farming. Our farmers are not just cultivators; they are forward-thinking entrepreneurs ready to make their mark on the world.”
Aamoré focuses on the two core pillars of the community, the farmer and the consumer. For Farmers, it is an opportunity to realise significantly higher incomes, sustainably and independently. On the other end, for consumers worldwide, Aamoré delivers an unparalleled experience of the highest quality of Alphonso Mangoes; a fruit that is authentic GI Certified and lives up to the promise of being the King of Fruits.
Aamoré Alphonso mangoes
About Konkan Ratnagiri Bhoomi Agro Producer Company
Konkan Ratnagiri Bhoomi Agro Producer Company is a farmer-owned enterprise dedicated to uplifting the lives of smallholder farmers in India. Through innovative agricultural practices and a focus on quality and sustainability, the company aims to redefine the role of the Indian farmer on the global stage.
16th April, 2024, New Delhi, India – Mitgo Ventures, an investment arm of one of the world’s leading MarTech companies, Mitgo Group, has invested in Spanish next-generation cashback service Qoala. It is a browser extension that allows users to get cashback and automatically apply coupons in over 4,000 stores. For Mitgo Ventures, this is one of the first investments in its new global Publisher Investments program of more than $20 million over the next two years. This investment program is accessible in the Indian market as well. Mitgo Ventures estimates that at least 15% of the overall current 20$ million investment plan will be invested in publishers from APAC.
Qoala’s browser extension has already reached an audience of 150,000 users in LATAM and Europe and is considering entering the Indian market in the future. It is a new-generation cashback service that is revolutionizing the space with their combined cashback and one-click checkout experience. The service partners with such well-known brands as Adidas, HP, Nike, IKEA, Vans, Booking.com, ASOS, AliExpress and many others.
“We are thrilled to announce a strategic investment and partnership with Mitgo Ventures, marking a significant milestone in our journey toward becoming the premier cashback solution across Europe and Latin America. This collaboration aligns us with a major industry leader, Mitgo, whose expertise and standing in the market are unparalleled. Together, we are poised to redefine the cashback landscape, leveraging our combined strengths to enhance user experiences and extend our services to over 1 million users in the coming year’s, believes Rafael Rubio, co-founder and co-CEO of Qoala.
The project team includes e-commerce specialists and second-time founders with many years of experience in the industry in focus regions. It was their strength and enthusiasm that was one of the decisive factors in attracting investment.
“We are entrepreneurs as well, and it’s great to see an energetic and inspired team that has the necessary skills in addition to passion. Qoala is great at combining both the B2C component and value to the user, as well as focus on B2B and great adaptability to large clients and their audiences. Our 10+ years of experience at the intersection of e-commerce and marketing allows us to offer dozens of ideas to accelerate their growth and increase revenue per user. And given the experience of our own startup studio and venture fund, we know 99 mistakes that most often ruin young projects, and will help Qoala avoid them," says Max Volokhov, Managing Partner at Mitgo Ventures.
In addition to capital and expertise, Qoala will also gain the opportunity to work with an expanded number of advertisers who already partner with Mitgo Group in India, Europe and LATAM. The group currently has contracts with more than 30,000 brands and online stores.
The investment in Qoala will be the first in a series of many under the Publisher Investments program launched by Mitgo in 2023. Aimed primarily at projects working in the FinTech, smart shopping, gig economy, generative AI, HRtech, MarTech, Influencer and no-ads sectors, the program intends to help publishers solve one of the biggest issues they face: finance gaps and cash flow problems that stand in the way of growth.
Applicants must also currently – or plan to through investment – earn more than 50% of their revenue from “cost per lead”, “cost per click”, “cost per sale” and other performance-based models or have the potential to become a tech partner for affiliate publishers.
Initial investment capital of the program is at $20 million over the next two years, but this amount will increase depending on the number of promising applications from publishers. Mitgo Ventures has already received numerous applications from India, and the influx continues.
About Mitgo
Mitgo is a global tech company focused on delivering innovative solutions and promoting entrepreneurship. Mitgo offers solutions and services in the MarTech, FinTech, Smart Shopping and IT-driven Startup Incubation sectors. These currently include Admitad partner network, native advertising platform TakeAds, coupon and voucher advertising solutions FairSavings, influencer marketing platform ConvertSocial, affiliate and referral tracking software Tapfiliate, education, and vocational training network Univibes, among others.
Additionally, Mitgo functions as a venture builder for startups and individual entrepreneurs, and as an investor network, seeking to support promising new IT projects. The company, headquartered in Neckarsulm, Germany, employs over 800 specialists across 10+ offices, spanning the USA (Chicago), Europe (Amsterdam, Warsaw, Kyiv, and Tbilisi), Brasil (São Paulo), the UAE (Dubai), and India (Gurugram).
With summer here, the blazing heat has already hit Delhi, reaching the highest maximum temperature in April at 38 degrees Celsius. To keep cool and hydrated, people are rushing to get water purifiers. They are making sure to stay refreshed and healthy in this scorching weather.
Moreover, with the rise in sales of water purifiers, there is a perceptible shift towards alkaline water purifiers, driven by the increasing awareness of the benefits they offer over traditional RO purifiers. Unlike RO purifiers, which may strip essential minerals from water, alkaline water purifiers maintain these minerals, providing a healthier hydration option.
Recent researches has highlighted the numerous benefits of alkaline water. Studies suggest that alkaline water may enhance hydration, improve digestion, and even support the immune system. Nobel laureate Dr. Otto Warburg’s research indicates that alkaline water can facilitate better oxygen absorption in the body, potentially warding off diseases.
In line with this growing trend, DAEWOO, a leading Korean brand, has unveiled its latest innovation – the First Commercial Alkaline Water Machine and Domestic Alkaline Water Machine. This cutting-edge product combines alkaline water technology with RO, UV, and UF filtration, ensuring a comprehensive solution for commercial settings.
With features such as Antioxidant, Alkalinization, and UV-Radiation, DAEWOO’s Alkaline Water Machines offer more than just clean drinking water. They promise potential health benefits, including improved digestion, skin rejuvenation, and immune system support.
Mr. H S Bhatia, Managing Director of Kelwon Electronics & Appliances Pvt Ltd, DAEWOO’s manufacturing partner in India, emphasized the importance of employee well-being, especially in corporate environments. He noted that while many individuals are adopting alkaline water for home use, there’s a gap in access during working hours. DAEWOO’s Commercial Alkaline Water Machine aims to bridge this gap, providing a consistent supply of high-quality alkaline water in workplaces, thereby prioritizing employee health and productivity.
The 13th Edition of the Big CIO Show & Awards in collaboration with Intel as the Innovation Partner, will bring together a leading group of C-level techpreneurs, innovators, and thought leaders from diverse sectors to deliberate their transitions from business enablers to growth drivers with AI.
15 April 2024, Bengaluru: Slated for 16th April 2024 at the Sheraton Grand Whitefield, Bengaluru, Trescon’s Big CIO Show & Awards will spotlight the transformative power of Artificial Intelligence across the entire technological spectrum, highlighting its integration into hardware and software solutions that drive business and technological advances. With an assembly of over 600 C-level executives, the event is poised to be a nexus of thought leadership, offering a dynamic platform for industry pioneers to exchange insights and deliberate on the forefront of technological innovation in AI. At the Big CIO Show 2024, the emphasis on Artificial Intelligence (AI) underscores the pivotal role it has had in revolutionizing business strategies and customer engagement.
Intel, the innovation partner at the Big CIO Show, is on a mission to bring AI everywhere through its exceptionally engineered platforms, secure solutions and support for open ecosystems. They are developing technologies and solutions that empower customers to seamlessly integrate and effectively run AI in all their applications across the data center, cloud, network, edge and PC. During the event, Intel will showcase through engaging panel discussions and keynotes how its AI portfolio is fully integrated across diverse computing environments enabling customers’ AI solutions everywhere. These demonstrations will emphasize how Intel is delivering a next wave of AI platforms that will enable enterprises to drive innovation and strategically reimagine their IT.
While speaking about the event, Naveen Bharadwaj, CEO, Trescon, said,” In this era of relentless innovation, the role of the CIO is evolving rapidly. Together with their C-suite colleagues, CIOs are at the forefront of embracing digital business strategies, facilitating the emergence of future work environments, and driving organizational growth. The Big CIO Show presents a prime opportunity for the IT community to engage with CIOs, fostering collaborations that will propel their enterprises toward a progressive future.”
#BigCIO offers a comprehensive agenda with engaging keynote speeches, use-case presentations, and insightful panel discussions on topics encompassing emerging technologies, utilising low-code/no-code platforms, generative AI, and more.
Among the notable speakers at the event are:
Saumer Kumar Phukan, Director, Head of Customer & Partner Engineering, Intel India
Vijay Kannan, Global Head, Business Transformation & Chief Digital Officer, Godrej Consumer Products Limited
Venkatesh Bhardwaj, Chief Technology Officer, MakeMyTrip, and more.
The show will also host the ‘Big CIO 50 Innovators Awards’ and the ‘Big CIO 50 Leaders Awards’ where industry savants will be honored for their efforts and contributions to the technology eco-space. The registration for the Big CIO Show & Awards is now open. Dive deep into the world of emerging technologies as you forge partnerships and gain actionable insights at the event. To book your tickets, visit https://bigcioshow.com/.
The 13th edition of the Big CIO Show is supported by:
Official Digital News Partners: CNBC TV18, Money Control
Official Print Media Partner: Business Standard
About Trescon
Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients. For more information about Trescon, visit: www.tresconglobal.com.
Preeti Karna
