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HCLTech and Hewlett Packard Enterprise Partner to Advance Private 5G Solutions in India

Garima Bansal
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HCLTech and Hewlett Packard Enterprise Partner to Advance Private 5G Solutions in India

HCLTech has forged a strategic global alliance with Athonet, a Hewlett Packard Enterprise company specializing in mobile core network technology, to deliver tailored Private 5G solutions across industries, including communication services providers (CSPs).

The collaboration aims to leverage Athonet’s advanced mobile core technology and establishment of a dedicated HPE Private 5G lab in Noida, India. This facility will serve as a focal point for exploring new use cases and demonstrating industrial applications of private 5G networks.

Drawing on over three decades of telecom services experience, HCLTech brings robust capabilities in network delivery, 5G, cloud, edge computing, and digital transformation to the partnership. The focus will be on deploying and managing private 5G networks that prioritize high-speed and secure data transmission.

Gurpreet Singh Kohli, Senior Vice President, Networks at HCLTech, expressed enthusiasm about the collaboration to introduce the advantages of private 5G to their clients across different industries and regions. By leveraging collective expertise, they aim to empower enterprises to accelerate their private 5G deployments and explore new avenues for revenue growth.

David Stark, Vice President and General Manager, Telco Solutions at Hewlett Packard Enterprise, emphasized the potential for co-innovation

With HCLTech’s technical proficiency, extensive experience in deploying advanced wireless technologies, robust ecosystem of partners, and global presence aligning closely with Hewlett Packard Enterprise’s vision, the partnership is poised to deliver transformative technology solutions that redefine connectivity and network capabilities for organizations globally.

Empowering Communities: DrinkPrime’s Mission to Provide Clean Water to Every Home

Garima Bansal
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Empowering Communities: DrinkPrime’s Mission to Provide Clean Water to Every Home

Access to clean, safe drinking water remains a critical issue for millions in India, where 91 million people lack reliable access. DrinkPrime, founded by Vijender Reddy Muthyala and Manas Ranjan Hota, addresses this challenge with an innovative subscription-based model for purified water delivery.

Accessibility and Quality
Driven by personal frustrations with unreliable water supply, Vijender and Manas set out to ensure every household could afford and access clean water. They designed flexible subscription plans tailored to diverse household needs, from individuals to large families, eliminating upfront costs and ensuring affordability.

Technology-Driven Solutions
DrinkPrime integrates advanced IoT, AI, and machine learning to monitor water quality in real-time. This proactive approach enables timely maintenance and filter replacements, ensuring continuous access to clean water without customer intervention.

Impact and Recognition
Since its inception, DrinkPrime has served over 100,000 households, achieving profitability and earning accolades as one of Asia’s top innovative companies. Their mission-driven approach and commitment to social initiatives underscore their dedication beyond profits.

Looking Ahead
With substantial backing from investors like Sequoia Capital, DrinkPrime continues to expand its reach and impact. The startup’s upcoming Series B funding aims to further enhance operations and scale their transformative solution across more communities.

Reliance Retail Launches Akind: A New Era in Skincare with Mira Kapoor

Garima Bansal
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Reliance Retail Launches Akind: A New Era in Skincare with Mira Kapoor

Reliance Retail’s Tira, in collaboration with Mira Kapoor, has launched a new skincare brand called Akind, marking a significant expansion of its omnichannel beauty platform. The brand debuted at Tira’s flagship store located in Jio World Drive, Mumbai.

Akind sets out to revolutionize skincare by catering to individual needs and empowering users to achieve their desired skincare outcomes. Its product lineup focuses on enhancing skin barrier health and is segmented into three distinct ranges.

Isha Ambani, Executive Director of Reliance Retail Ventures, expressed her enthusiasm about the launch, highlighting Akind as a pivotal milestone in Tira’s evolution. She emphasized Reliance Retail‘s ongoing commitment to innovation and excellence, ensuring that each product offering enhances the overall beauty experience for customers.

Mira Kapoor, co-founder of Akind, shared her personal journey and vision for the brand, stating, “Akind emerged from my own skincare journey of listening to my skin’s needs. Our formulations are meticulously crafted with scientifically-backed ingredients to deliver high-performance results, suitable for all skin types. Akind aims to offer effective skincare solutions that are both affordable and focused on improving skin barrier function.”

With the introduction of Akind following the success of Tira Tools and Nails Our Way, Tira reaffirms its dedication to providing a diverse range of high-quality products that set trends in the beauty and personal care industry.

Revolutionizing Fuel Management: Nawgati’s Solution to India’s Pump Congestion Crisis

Garima Bansal
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Revolutionizing Fuel Management: Nawgati’s Solution to India’s Pump Congestion Crisis

Founded by Vaibhav Kaushik and Kushal Bhagia in 2021, Nawgati addresses the widespread frustration among drivers with its cutting-edge platform. By leveraging advanced AI algorithms and real-time analytics, Nawgati empowers both consumers and station operators with unprecedented visibility and efficiency.

Transforming Consumer Experience
Nawgati’s consumer app provides drivers with real-time data on wait times at fuel stations, enabling informed decisions to avoid queues. Users can even book fueling slots in advance, ensuring a seamless experience. The app also aggregates promotions and loyalty programs, maximizing savings for users across 5500+ outlets in 25 major cities.

Empowering Station Operators
For petrol pump operators, Nawgati offers an operations dashboard that optimizes staffing, inventory management, and pricing strategies. By analyzing live camera feeds and historical data, Nawgati’s AI predicts queue lengths accurately, enhancing operational efficiency and profitability.

Driving Impact and Expansion
Since its launch in 2022, Nawgati has garnered over 150,000 users and facilitated 1 million+ transactions. It has significantly reduced average waiting times by 27% and boosted fuel sales by 15% per month. Partnerships with industry giants like IndianOil, BPCL, HPCL, and Shell have accelerated Nawgati’s reach and influence in the market.

A Vision for the Future
With ambitious plans to connect 15,000 fuel stations by mid-2023 and expand into B2B fleet management solutions, Nawgati is poised for exponential growth. The startup aims to revolutionize fuel management not only in India but also in Southeast Asia and the Middle East, leveraging a market worth over $6 billion globally.

The Journey of BetterCommerce: Pioneering the Future of Mid-Market Retail

Garima Bansal
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The Journey of BetterCommerce: Pioneering the Future of Mid-Market Retail

Founded by Vikram Saxena, BetterCommerce stands as a beacon of innovation in mid-market retail since its inception in 2015. Vikram’s journey into entrepreneurship began with a passion for technology sparked during his early days teaching Office 97. This passion drove him to pioneer an Electronic Software Delivery platform before founding BetterCommerce, driven by a vision to address the shortcomings in mid-market eCommerce solutions.

BetterCommerce’s core strength lies in its headless and modular architecture, offering retailers unparalleled scalability and flexibility without the constraints of traditional eCommerce frameworks. This approach integrates seamlessly with PIM, eCommerce, CMS, OMS, Analytics, and Engage modules, enriching customer experiences beyond mere transactions.

The success of BetterCommerce is attributed to a dedicated team whose diversity and expertise have been instrumental in navigating challenges and driving continuous innovation. Vikram Saxena emphasizes the importance of embracing diversity and fostering a collaborative environment where every voice contributes to the platform’s evolution.

Looking forward, BetterCommerce aims for exponential growth and expansion into new markets, supported by a robust partner ecosystem.

Reflecting on his entrepreneurial journey, Vikram underscores the importance of practical solutions, adaptability, and a culture of continuous learning within the organization. He encourages aspiring entrepreneurs to embrace challenges as opportunities for growth and refinement.

WestBridge Capital Divests 1.2% Stake in IndiaMART for Rs 190 Crore

Garima Bansal
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WestBridge Capital Divests 1.2% Stake in IndiaMART for Rs 190 Crore

WestBridge Capital has recently divested a 1.2% stake in IndiaMART InterMESH, a prominent online B2B marketplace, for Rs 190 crore through open market transactions.

This move was executed via WestBridge Crossover Fund LLC, with 7.3 lakh shares sold in two separate block deals on the Bombay Stock Exchange (BSE). The shares were sold at an average price of Rs 2,601 each, totaling Rs 189.87 crore.

SBI Mutual Fund and Morgan Stanley Asia (Singapore) were the buyers at the same price, driving IndiaMART InterMESH shares to rise by 1.25% to Rs 2,648.80 apiece post-transaction.

Concurrently, Rajat Agrawal, a promoter of Gravita India, divested a 2% stake valued at Rs 191 crore through a significant block deal on the BSE. Agrawal sold 14 lakh shares at an average price of Rs 1,365 per share, reducing his stake in Gravita India from 41.35% to 39.35%.

The transaction also decreased the combined promoters’ stake in Gravita India to 64.48% from 66.48%. The shares were acquired by Oxbow Capital Management from Hong Kong, propelling Gravita India’s stock to surge by 11.98% to close at Rs 1,541 per share on the BSE.

Quidich Innovation Labs Secures Funding from Centre Court Capital

Garima Bansal
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Quidich Innovation Labs Secures Funding from Centre Court Capital

Quidich Innovation Labs, a sports broadcasting technology startup, has raised an undisclosed amount in a Series A funding round led by Centre Court Capital, a venture capital firm focused on sports tech and gaming, backed by the Sajjan Jindal Family Trust. The newly raised funds will be utilized to expand Quidich’s reach across new sports and geographies and further develop its technology stack.

Founded in 2013 by Rahat Kulshreshtha and Gaurav Mehta as a drone startup, Quidich pivoted to enhancing live sports broadcasting in 2019 through advanced technological solutions, including specialized camera systems, computer vision, and augmented reality. Rahat Kulshreshtha, co-founder of Quidich, stated, “Once we got into sports, our entire focus has been on building layers of technology using artificial intelligence, computer vision, and the power of game engines to be able to build very interesting storytelling tools and applications for broadcast.”

Quidich has established itself as a key technology partner to prominent clients such as the Board of Control for Cricket in India (BCCI), International Cricket Council (ICC), Sky Sports, Sunset+Vine in the UK, Channel 7 in Australia, and SuperSport in South Africa. The company has recently opened offices in London and the United Arab Emirates.

Mustafa Ghouse, General Partner at Centre Court Capital, remarked, “As sports broadcast technology undergoes a sector-wide transformation, broadcasters and leagues are searching for partners to guide them into a new era. We believe that Quidich’s dedication and unwavering commitment to quality, demonstrated through their consistent pursuit of excellence in cricket broadcasting, positions them as the leaders for this transformation.”

In a recent media release, Quidich unveiled ‘HypeReality,’ a product created in collaboration with the International Cricket Council (ICC). HypeReality is designed to redefine sports fan engagement by bringing the electrifying atmosphere of the ICC Men’s T20 World Cup 2024 directly into homes around the globe. Utilizing the latest in immersive content technology, the Apple Vision Pro, this product promises to deliver an unparalleled level of excitement and immersion to its users.

Rahat Kulshreshtha expressed enthusiasm about the investment, saying, “We are thrilled to have Centre Court Capital come on board as investors. Beyond critical funding, they bring a legacy of sporting excellence and a shared belief in the transformative power of technology in sports. We are united in our goal to redefine the global sports viewing experience and are confident that with Centre Court Capital by our side, the game is about to change in ways we’ve only dreamt of.”

The sports media rights market, currently valued at $56 billion, is projected to grow to $114 billion by 2030, driven by advancements in technology. Quidich is poised to capitalize on this opportunity by continuing to develop state-of-the-art solutions that revolutionize sports broadcasting and elevate the fan experience.

Sava Raises $8 Million in Seed Funding

Garima Bansal
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Sava Raises $8 Million in Seed Funding

Sava, a health monitoring company based in London, UK, has successfully raised $8 million in Seed funding. The funding round was led by Balderton Capital and Exor Ventures. This investment will be utilized to expand Sava’s team, design a new product line with manufacturing capabilities, and demonstrate the platform’s clinical performance.

Founded by Renato Circi and Rafael Michali, Sava is focused on developing a wearable biosensor platform capable of detecting molecules just beneath the skin. The company’s innovative microsensor technology aims to provide real-time monitoring of biomarkers in the body, with an initial focus on glucose levels. This technology promises pain-free and real-time insights for users.

Sava recently received approval from the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) to conduct clinical trials on patients with diabetes. These trials, set to begin soon with investigators from the Universities of Oxford and Cambridge, will help validate Sava’s technology on a larger scale.

Renato Circi, co-founder of Sava, stated, “At Sava, we are tackling preventable illness by building a new operating system for health monitoring. Our microsensor will revolutionize healthcare by making world-leading monitoring technology available to all. With this capital, we can accelerate our goal of creating a new paradigm for healthcare—preventative, personalized, and painless.”

James Wise, Partner at Balderton Capital, commented, “This could be the defining product in personal health monitoring in the coming decade and an essential tool for patients and clinicians in diagnosing and treating many chronic diseases as well. Renato and Rafael have a compelling user-centric vision to revolutionize chronic disease management and preventative care, and the credibility and knowledge to execute in this vital area.”

Noam Ohana and Ileana Pirozzi of Exor Ventures added, “Sava’s unique approach and novel technology underline its potential to become a foundation of a new healthcare system. It offers a platform that addresses the needs of both patients and healthcare systems and which will allow other companies to build upon.”

This round brings Sava’s total funding to $13 million, enabling further expansion of the team, enhancement of product lines, and comprehensive demonstration of their clinical performance capabilities.

SoftBank Gets Promoter Tag in Unicommerce’s IPO Filing

Garima Bansal
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SoftBank Gets Promoter Tag in Unicommerce’s IPO Filing

Japanese investor SoftBank Group Corp., holding nearly a 30% stake in Unicommerce eSolutions Pvt. Ltd., has been classified as a promoter in the company’s IPO filing. Alongside SoftBank, Snapdeal cofounders Kunal Bahl and Rohit Bansal have also been tagged as promoters in an addendum to the draft IPO prospectus submitted to the Securities and Exchange Board of India (SEBI). Previously, only AceVector Ltd., the parent company of Snapdeal, was identified as the promoter.

To protect itself from any liabilities associated with being a promoter, SoftBank entered into an indemnity agreement with Kunal Bahl and Rohit Bansal on May 17, prior to the board’s decision on May 29. This agreement ensures that SoftBank and its executives are indemnified against any claims or losses arising from its responsibilities as a promoter.

Unicommerce, which initially filed for an IPO in January, plans to sell shares worth approximately Rs 480-490 crore without issuing fresh capital. Under Indian regulations, a shareholder with a stake of 26% or more is termed a promoter, imposing restrictions on the sale of shares post-IPO.

The classification of SoftBank, Bahl, and Bansal as promoters aligns with SEBI’s increased scrutiny on promoter groups of IPO-bound companies. This scrutiny has led to reclassifications in other companies as well, where individuals and corporate entities with significant stakes are designated as promoters.

SoftBank’s entity, Starfish I Pte. Ltd., holds the largest share in AceVector, and through SB Investment Holdings (UK) Limited, it directly holds a 29.23% stake in Unicommerce. SoftBank plans to sell half of its stake in the IPO, reducing its holding to about 14.61%.

Unicommerce is a software-as-a-service (SaaS) platform that provides end-to-end management solutions for e-commerce operations. The company’s inclusion of additional promoters and the indemnity agreement with SoftBank highlight the complexities and regulatory considerations involved in preparing for an IPO under SEBI’s oversight.

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QpiAI Raises $6.5 Million in Pre-Series A Funding to Advance Quantum Computing and AI

Garima Bansal
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QpiAI Raises $6.5 Million in Pre-Series A Funding to Advance Quantum Computing and AI

Bangalore-based quantum computing startup QpiAI has secured $6.5 million in a pre-Series A funding round led by Yournest and SIDBI Venture Capital. The funding will support QpiAI’s mission to pioneer advancements in quantum computing and generative AI technologies.

QpiAI plans to use the funds to scale its operations and establish a 25-qubit quantum computer at its Bangalore headquarters by late 2024 or early 2025. This quantum computer is part of a broader strategy to develop a Quantum-HPC (High-Performance Computing) data center prototype, capable of scaling to 1,000 physical superconducting qubits.

The investment round saw participation from several notable investors, including WFC, angel investors Ramesh Radhakrishnan and Ramaswamy Prabhakar, Quick Heal Security founders Kailash Katkar and Sanjay Katkar, former Cognizant CEO Lakshmeenarayanan, former Bentley CPO Bhupinder Singh, Silicon Valley entrepreneur Pratap Reddy, and Sahasra Capital.

QpiAI, founded by CEO Nagendra Nagaraja, aims to integrate quantum computing and AI to revolutionize various fields such as materials science, drug discovery, automotive, and manufacturing. The company’s seven software platforms—QpiAI-pro, QpiAI-explorer, QpiAI-opt, QpiAI-pharma, QpiAI-ML, QpiAI-logistics, and QpiAI-matter—leverage these advanced technologies to provide innovative solutions across multiple industries.

With this funding, QpiAI plans to enhance its Quantum Compute as a Service (QCaaS) offerings and expand its operations globally. The company is poised to make significant contributions to the field of quantum computing, aiming to develop scalable quantum computers capable of solving real-world problems and driving advancements in enterprise and industrial applications.

As part of the funding agreement, Debraj Banerjee from SIDBI Ventures and Ramesh Radhakrishnan will join the QpiAI board, bringing their expertise to support the company’s growth. QpiAI’s focus on combining quantum computing with high-performance computing and generative AI sets it on a path to become a key player in the global quantum technology landscape.

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