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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102251) | |
22151. Big shoes to fill? This Delhi startup wants to take on international brands with its affordable Made in India products
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Startups in Bharat
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- Delhi-based startup dmodot makes handcrafted leather footwear and has showcased its products at events like the Lakme Fashion Week.
- Abhishek launched dmodot along with his friends Suhail Dhaul and Pranav Sawhney, all in their twenties at the time, in 2014. The Delhi-based startup makes handcrafted leather footwear and sells it at affordable prices.
- Abhishek says dmodot was started with the purpose of solving the footwear needs for self, which extended to creating a brand to solve the same problem for the like-minded community. “Good quality footwear was expensive and the available footwear in range was not appetising,” says Abhishek.
22152. How Bengaluru-based Pyse is helping open up a new, niche investment sector for retail investors
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Startups in Bharat
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- Fintech company Pyse helps retail investors invest in social impact projects, at smaller ticket sizes. It aims to make alternative asset investments as simple as investing in fixed deposits.
- Bengaluru-based startup called Pyse. Founded by computer science engineers Kaustubh Padakannaya and Vinay Mantha in 2020, it allows retail investors to invest in sustainable energy projects, at lower ticket sizes.
- These platforms have helped not only open up something that was exclusively accessible to HNIs, investment bankers, traders and stockbrokers, but also made the common, everyday man part of the larger economy in general.
22153. Wunderbar! German shoe brand Von Wellx shifts production to Agra from China and Anand Mahindra has something to say
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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Moneycontrol
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- German shoe brand Von Wellx has officially shifted its production in two units strats on November 3 which shifted from China to Agra (Uttar Pradesh)
- Additional chief secretary (industrial development) Alok Kumar inaugurated the units. He said Von Wellx will invest around Rs 300 crore in phases in three projects.
- "This would generate about 10,000 jobs while the units would produce up to 5 million pairs of footwear annually," Kumar said
22154. Startup Bharat: This Bhagalpur agritech startup's Preservator helps farmers reduce produce wastage
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- Bhagalpur-headquartered agritech startup Saptkrishi (2019) has developed Sabjikothi or Preservator, a wheel-mountable, microclimate-based storage solution that is cost-effective, portable, and extends the shelf life of fruits and vegetables from three days to 30 days.
- The Food and Agriculture Organization (FAO) of the United Nations says 40 percent of horticultural produce worth $8.3 billion is wasted every year due to inadequate logistical support, lack of refrigerated storage, supply chain bottlenecks, poor transport, and underdeveloped marketing channels.
- The startup launched its first product, the Sabjikothi or Preservator, a low-cost, IoT-enabled chamber-cum-storage that can be used to extend the shelf life of horticultural produce from three days to 30 days. The wheel-mountable, microclimate-based storage is cost-effective and portable.
22155. Japan to aid two companies moving manufacturing base from China to India
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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India
Islnad
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- The Japan has agreed to offer financial assistance to two of its companies to diversify their manufacturing base to India as part of its recent initiative to provide subsidies to companies relocating from China. They are: Toyota-Tsusho and Sumida.
- The move was announced following Indian Prime Minister Narendra Modi’s meeting with global investors on Thursday. Modi is to follow up Thursday’s round table discussions with one-on-one meetings with the investors, including some marquee Japanese players.
- Japan had announced a $2-billion initiative, unofficially aimed at re-shoring some of its companies as well as diversifying into other markets. While a bulk of the funding is aimed at those entities that shift from China back to Japan, India and Bangladesh are among countries where assistance will be provided. There are 30,000 Japanese companies that have production bases in China, which had emerged as the factory to the world, compared with 5,100 in India
22156. Trivago for taxis? This startup is solving intercity travel in Tamil Nadu with smart tools
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Startups in Bharat
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Tamil Nadu
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- Chennai-based taxi marketplace Taxida launched in the lockdown to ease intercity trips by Rosario Narchison Alex in 2020. The startup is targeting a gross booking value of $3.2 million, riding on the renewed interest in outstation travel.
- Taxida is an on-demand marketplace and booking platform that connects travellers with a variety of unorganised taxi service providers — airport taxis, local taxis, intercity taxis, zero-emission taxis, and even robotaxis in future.
- Some smaller players do one-way drops but they are fragmented and the trips are coordinated on WhatsApp. Sometimes drivers don’t show up, and there’s no way to track them. There was no single player to connect all these cabs.
22157. How this fintech startup overcame COVID-19 challenges to see over 100 percent growth in 2020
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Startups in Bharat
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- 1) Bengaluru-based Slice, which provides digital payment and financial credit services, is focused on providing credit to Gen Z and young millennials.
- 2) Founded in 2016 by Rajan Bajaj, the startup provides digital payment and financial credit services focused on Generation Z and young millennials.
- Rajan Bajaj, Founder and CEO, Slice, says, “Prior to COVID-19, our customers were largely relying on us for ecommerce transactions. But now, 50 percent of their monthly payments are happening through the Slice card.” With around 3,00,000 customers, Slice has its presence in around 30 cities in the country as of now, and aims to extend it to 50 in the next one year.
22158. Apple-supplier Wistron starts expanding India plant
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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India
Ultra News
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- Taiwan-based contract manufacturer Wistron Infocomm has started carrying out a significant expansion of its existing facility in Kolar near Bangalore as Apple Inc continues to source more assembled-in-India iPhones.
- “Wistron is a Taiwan based contract manufacturer of electronic goods and is one of the major manufacturers of iPhones for Apple. Wistron has been producing Apple devices at its existing factory at Kolar, Bengaluru, and has now embarked upon its Phase II expansion as a part of which, it is constructing a large manufacturing block and an IT building,” Blue Star said. Air conditioning equipment provider Blue Star revealed the information in a regulatory filing today.
- A major push by the Indian government to cut down India’s electronics imports bill, which runs into hundreds of billions of dollars and accounts for more than half of the total non-oil imports made by India every year. According to a Reuters report, Wistron plans to invest around Rs 1,300 cr to expand its capacity from around 200,000 per year to 400,000 per year, creating an extra 10,000 jobs in the country.
22159. How EV startup Earth Energy is focusing on Made in India products to disrupt the segment
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- Mumbai-based EV startup Earth Energy launched in the year 2017, is developing smart, affordable, and easily adoptable electric vehicles for consumers and businesses.
- Rushi Shenghani, Founder and CEO of Earth Energy says all vehicles come with a default in-built app for smartphones that helps riders to keep live navigation status, incoming calls/messages alert, trip history, and current destination on-screen.
- The app also allows a third-party usage model for food delivery agents. The entire order mapping can be easily done on the display screen itself.
22160. [Funding alert] Pharmacy chain Wellness Forever raises Rs 130 Cr from Poonawalla, Allana Group
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
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Maharashtra
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- The Mumbai-headquartered retail pharmacy chain Wellness Forever on Monday announced that it has raised Rs 130 crore in funding led by UAE-based Allana Group and Serum Institute CEO Adar Poonawalla.
- According to the official statement, funds will be utilised for store expansion, strengthening their highly profitable private label brands which are under its 100 percent subsidiary Amore — which focuses on wellness and health products and invests more in ecommerce.
- It was founded in 2008 by entrepreneurs Gulshan Bakhtiani, Ashraf Biran, and Mohan Chavan who come with a collective experience of over 100 years of operating profitable pharmacies. Since inception, the company claims to witness 35 percent growth y-o-y with over 4,000 employees, of which 800 are qualified pharmacists. It claims to have over one million loyal paid customers.