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ZEPIC closes $2.1 Million in Pre-Seed Investment Round from Neon Fund and angels, Unveils Unified Customer Experience Platform

ZEPIC Inc. has unveiled its latest platform designed to empower businesses with unparalleled opportunities for hyper-personalized customer engagement. This launch comes on the heels of the company’s successful $2.1 million pre-seed investment round, which saw participation from Neon Fund, contributing $500,000, alongside angel investors holding senior positions at prominent companies such as Apple, Chargebee, Freshworks, Microsoft, and ZOHO.

At the heart of ZEPIC’s groundbreaking innovation lies its distinctive capability to seamlessly integrate and model any business data alongside customer data. Whether it’s information related to product inventory, customer reviews, or order fulfillment, ZEPIC enables businesses to harness every available piece of data to deliver hyper-personalized experiences to their customers. This ensures that campaigns are not only tailored to individual customer preferences and behaviors but also take into account the complete context and journey of the business-customer relationship.

“ZEPIC is fundamentally designed and built on customer records, serving as the source of truth for all teams within the business,” said Co-founder and Product Head, Naveen Venkatesan. “With all browsers blocking third- party cookies, ZEPIC helps businesses prioritise first-party data collection through its intelligent visitor tracking, identity resolution and progressive customer profile enrichment.”

Siddhartha Ahluwalia, Managing Partner, Neon Fund, said “ZEPIC’s founding team consists of folks who have been building B2B SaaS from India for the world, since the last 20 years, first at Zoho and then at Freshworks ZEPIC as a product is revolutionary in a way, that it is one of the most advanced Customer Data Platforms in the world. With Global customers from Day 0, we see ZEPIC has the potential to become one of the most iconic SaaS companies from India.”

“We have been impressed with the insight and expertise of ZEPIC’s team as we conduct a pilot of the technology they offer. We are looking for a solution that will provide us with a full 360-degree understanding of our audiences, both new and prospective. This way we will be able to build and offer a full suite of tools and platforms that target and engage fans and enhance their journeys,” said David Lee, Chief Revenue Officer at Hockey Australia. “ZEPIC’s offering has already enlightened us with the ability to see audience activity, which will enable us to achieve our fan engagement and associated commercial goals as part of the Digital Pillar of our strategic plan.”

ZEPIC sets a new standard in customer engagement by empowering teams to deliver hyper-personalized experiences without the heavy reliance on engineers, SQL queries, or designers. This self-service approach marks a paradigm shift in the industry, enabling teams to create impactful campaigns effortlessly.

Dhanlaxmi Bank appoints Ajith Kumar K.K as MD & CEO

Dhanlaxmi Bank has appointed Ajith Kumar K.K as its Managing Director (MD) and Chief Executive Officer (CEO) for a term of three years, subject to approval from the Reserve Bank of India (RBI). With a distinguished banking career spanning over 36 years, Ajith Kumar K.K, previously associated with Federal Bank Limited, will now lead Dhanlaxmi Bank.

The appointment follows the RBI’s directive for the current MD & CEO, Shivan JK, to continue in the role until the new appointee assumes office. Shivan JK’s tenure was originally set to conclude on January 29, 2024.

This represents a significant shift for Dhanlaxmi Bank, which experienced instability following the departure of former CEO Sunil Gurbaxani in September 2020. After navigating a prolonged period without a chief executive, the bank appointed KN Madhusoodanan as part-time chairman in September 2023, following a vacancy of 21 months since the resignation of G Subramonia Iyer in December 2021.

The board of directors will soon convene to formalize Ajith Kumar K.K’s appointment, subject to shareholder approval as mandated by regulatory guidelines.

Ajith Kumar K.K’s extensive banking experience, encompassing credit, human resources, branch banking, and more, positions him well to steer Dhanlaxmi Bank through its forthcoming growth phase. Presently, the bank offers various personal banking services, including savings accounts, loans, credit cards, and digital banking solutions.

The Gap Year Advantage – How a Year Off Can Enhance Your Education?

Sachin Sandhir, Founder and CEO, GENLEAP

The common perception of a road to higher education is a direct path from grade school to college. However, many students are now discovering the real meaning of a gap year, which is a break period between high school and college that can assist not only in learning but also in personal growth. Usually, these breaks are a result of preparation for competitive exams or non-clarity about future prospects, but this time also freshens up students´ mindsets by letting them discover what they like, gain new skills, and pave a straighter path to success in the future.

Going on a gap year can be thrilling but on the other hand, the anticipation can be unsettling. Some students are also scared that postponing their studies would hamper their study experience or make them unable to achieve important milestones. But, for many students, a gap year can offer valuable experiences that contribute to a more comprehensive education, despite the challenges it may bring.

Exploring the world

The cliché of gap year experience is -step by step- replacing the discipline of study with the liberation of self-discovery without being restricted by the barriers of the normal school timetable. This undertaking could be for various factors like exploring the way forward be it educational or work-related engagements, developmental activities like internships, polishing those extracurricular activities that took a back seat while completing the school curriculum, etc. Such experiences will bring the students closer to understanding not only themselves but also their drive and where they can envision themselves in the future. On a broader aspect, taking a gap year can have noteworthy benefits to one’s educational as well as career path. 

Building practical skills

Doing a gap year gives students a golden chance to break the habitual cycle of learning, step back, and focus on building practical skills that are often not covered while following standard instructions at school. Such things could be, for example, learning a new language, developing coding skills, volunteering, or doing internships to gain the needed experience. Therefore, these competencies have an impact on a student’s resume as well as scavenge success in their area of expertise. Overall, such experiences may result in being independent, having problem-solving abilities, and critical thinking.

Preparing for standardized tests

For college-bound students, a gap year can serve as a great opportunity to take time off dedicated to imbibing test preparation for SAT, ACT, or GRE, etc. Preparing well for exams will boost their chances of scoring higher, which could lead to colleges accepting them and offering scholarships. The gap year provides students the chance to have an in-depth theoretical and practical self-analysis and get access to the much-required materials and aid to succeed academically.

Learning about oneself and their interests

Among the advantages, one of the best is the space gap year gives to bachelor students when they can analyze their personal values, goals, and intentions. Going through these moments of discovery usually means finding your real self and understanding where you fit in the world. While students continuously face new experiences and obstacles, a gap year provides them a chance to develop resilience, adaptability, and a deeper sense of self.

Gaining industry experience

A gap year allows students to try internships, jobs, and volunteer work which provide an ideal chance to get practical experience outside the school environment. Being exposed to different industries and career paths broadens the students’ horizons about what to do afterward. Thus, the students get an edge on their education and career path. These students will not only grow but also develop networks, learn to work together, and gain independence while at the same time building up their sense of responsibility.

Cultivation of mental health attitude and mode of living

A gap year can help students learn more about mental health and wellness. High school is quite demanding and getting to college is no less than a steep curve. Thus, a break can give them time to relax and see things differently. Students can use this time to think about themselves, meditate, and improve their emotional intelligence skills and resilience.

At last, taking a gap year can be valuable for an individual’s personal growth. During this time, they can learn, volunteer, and travel, all of which help them discover new things about themselves. In the process of exploring, learning, and thinking actively about their experiences, students can gain a better understanding of what they’re learning at university and position themselves for a successful career afterward. From finding new hobbies to mastering practical tricks, prepping for standardized exams, and having a real-life experience, a gap year offers a lot more that goes beyond their classroom learning, shaping their lives in meaningful ways.

Authored Article By: Sachin Sandhir, Founder and CEO, GENLEAP

 

 

IIM Indore launches 432 crore project -‘ABHYUDAYA’

IIM Indore has unveiled its Group VIII Project – ‘ABHYUDAYA’, aimed at upgrading its educational infrastructure. Valued at Rs. 432 Crores (plus GST), the project was officially launched by the Institute’s Director, Prof. Himanshu Rai.

The inauguration ceremony followed a traditional Vaidik approach, with Prof. Rai personally overseeing the priestly rituals. This underscores the project’s strong cultural foundation and the institution’s reverence for traditional customs.

Prof. Rai expressed his excitement and said, “ABHYUDAYA represents a leap forward for IIM Indore, aligning our infrastructure with our educational aspirations. This expansion will not only enhance our academic offerings but also significantly contribute to the holistic development of our students and faculty.”

The initiative is dedicated to sustainable progress, aiming to achieve a net-zero campus footprint by incorporating cutting-edge environmental technologies like solar power systems, solar water heating, and a cutting-edge sewage treatment plant. Additionally, the extensive landscaping strategy involves the utilization of indigenous plant varieties and the creation of green areas to enrich biodiversity and offer ecological advantages.

“These initiatives reflect our dedication to creating an eco-friendly learning environment that aligns with global sustainability standards and helps prepare students to be conscientious future leaders,” added Prof. Rai.

ABHYUDAYA encompasses the development of cutting-edge academic infrastructure, highlighted by a new academic building tailored to accommodate 870 students across multi-storey hostel blocks, offices for 70 faculty members and an equal number of staff and associates, alongside residential quarters for 32 faculty members. These academic structures will offer versatile learning environments, comprising classrooms of different capacities, faculty offices, lounges, and administrative areas, all complemented by modern cafeterias.

Furthermore, the project introduces an MDC Academic Block and Incubation Center, aimed at bolstering Management Development Programs and furnishing specialized amenities for DPM participants and virtual learning initiatives.

Regulatory Challenges Create Major Steer in the Growth Trajectory of Fintech Players

India boasts one of the world’s largest financial service markets, with over 950 million individuals accessing banking services and approximately 10 million new digital payment users joining each month. This rapid expansion presents lucrative opportunities for fintech firms but also brings forth numerous regulatory hurdles.

The innovations are significantly reshaping core financial services for banks, compelling them to continually innovate to stay pertinent. However, these changes also elevate the stakes for regulators and supervisors. Despite the relatively small size of most individual FinTech firms, they possess the capacity to rapidly scale across riskier client bases and business sectors compared to traditional lenders. This blend of swift expansion and the growing significance of FinTech in financial intermediation brings about systemic risks, regulatory complexities, and impediments to growth. 

Additionally, the Paytm Payments Bank incident has served as a wake-up call for the entire financial industry, emphasizing the stark contrast between compliance and breach of regulations. According to research by Global Data, cash transactions have significantly decreased, with UPI transactions experiencing a meteoric rise since the demonetization of Rs 500 and Rs 1000 notes in 2016. Today, India makes as many digital payments in a month as America makes in three months.  India witnessed an exceptional surge in UPI transactions in 2023. In FY2022-23, 8,375 crore transactions were reported up from 92 crore transactions in FY 2017-18, showcasing a compound annual growth rate (CAGR) of 147% in terms of volume. UPI has emerged as a significant player in India’s digital payment sector, contributing to 62% of digital payment transactions in FY 2022-23. UPI-based transactions touched a total value of Rs 17.4 lakh crore in December 2023, RBI recently said in its monthly bulletin.

“Regulatory changes have been coming thick and fast in the capital markets space in the recent past. While the intent is always great and beneficial for the ecosystem particularly retail investors, there needs a lot of coordination between all the players to achieve the desired results. The impact of these on businesses is overheads on the systems,  processes, and resourcing. At times these can introduce risk in the system of unintended nature due to various reasons including aggressive timelines on the back of quick fixes, and limited impact analysis of changes brought in code. However, at the same time, these are making businesses agile and plug systemic risks leading to an overall improvement of business sentiments” expressed by Kartik Chhaya, COO, Rupeeseed on the ongoing challenges.

Among the foremost challenges confronting India’s fintech sector is the imperative to adhere to diverse jurisdictional laws. Firms must navigate the intricacies of regulations across different countries, including compliance with international standards such as Anti Money Laundering Regulation (AML) combined with the General Data Protection Regulation (GDPR). While prioritizing adherence to domestic laws, fintech companies must grapple with the additional complexities introduced by GDPR and AML regulations, particularly when handling EU data.

The future growth path of India’s fintech sector hinges on its ability to effectively incorporate international compliance standards while ensuring robust data protection and financial integrity. Given the rapidly evolving regulatory environment, fintech companies must remain attentive to emerging requirements to sustain their growth and maintain trust in the expanding digital financial sphere. The changing landscape of post-technology intervention undoubtedly presents a formidable challenge for emerging fintech ventures, but implementing the appropriate regulations from the outset will undoubtedly pave the way for future success and shield them from the sudden regulatory crackdowns that established players are currently experiencing in the industry.

 

Ex-Unacademy COO Starts Beyond Odds with $11M Seed Funding

Vivek Sinha, formerly the Chief Operating Officer (COO) at Unacademy, has unveiled his latest endeavor, Beyond Odds Technologies. This startup has received a substantial initial investment of $11 million, primarily led by Matrix Partners India and Lightspeed.

This announcement follows a prior report by Moneycontrol in December, which hinted at investments from notable figures like Ritesh Agarwal, the CEO of Oyo, and Gaurav Munjal, CEO and co-founder of Unacademy. Other supporters include key figures from upGrad, Livspace, Tracxn, CloudNine Hospitals, Softbank, and Steadview Capital.

Beyond Odds Technologies aims to boost employability through a technology-driven platform that identifies, trains, certifies, and places candidates across sectors such as healthcare, education, construction, and hospitality. Their flagship project, ‘Emversity,’ combines academic degrees with industry-focused skills, offering features like ‘built-in income’ and ‘work abroad integrated’ modules, along with robust placement support.

The departure of several high-level executives from Unacademy preceded Sinha’s move, indicating a period of significant transition within the company. Emversity, the educational arm of Beyond Odds, is preparing to launch its first center in Bangalore on April 20, with plans for expansion to six more cities this quarter. The startup has also formed partnerships with leading healthcare institutions to offer tailored programs meeting specific industry skill demands.

 

 

 

AuthBridge Research Services appoints Payal Aggarwal as VP- HR

AuthBridge Research Services has named Payal Aggarwal as its new Vice President of Human Resources. With over a decade of experience in HR management, Payal is set to play a pivotal role in shaping the company’s HR strategies, refining talent management practices, and reinforcing its dedication to employee engagement and overall organizational advancement.

Having held significant positions at Bharti Airtel, InterGlobe Hotels, The Indian Express, and Franklin Templeton Investments, Payal brings a wealth of knowledge and expertise to AuthBridge. Ajay Trehan, Founder and CEO of AuthBridge, expressed confidence in Payal’s abilities, anticipating that her leadership will drive HR initiatives and nurture a culture of employee engagement and development.

Payal herself expressed enthusiasm for collaborating with the team, aiming to foster a culture of innovation and excellence while empowering employees and propelling AuthBridge to new levels of success.

 

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ICICI Lombard Reports Strong Growth in Q4 Profits, Eyes Industry Expansion in New Fiscal Year

Mumbai: ICICI Lombard announced a nearly 19 percent rise in its net profit for the March quarter, reaching Rs 520 crore, showing confidence in the upcoming fiscal year’s industry growth. Compared to the previous year, the city-based company’s post-tax net profit surged from Rs 437 crore to Rs 520 crore.

In the fiscal year 2023-24, the company’s profit after tax increased by 11 percent, reaching Rs 1,919 crore compared to Rs 1,729 crore in the preceding year. The gross direct premium income (GDPI) also saw substantial growth, rising by 22 percent to Rs 6,073 crore in the reporting quarter from Rs 4,977 crore a year earlier, marking a 9.5 percent increase year-on-year.

The combined ratio, a measure obtained by dividing claim-related losses and expenses by earned premiums, improved to 102.2 percent in the March quarter compared to 104.2 percent previously. For FY24, the ratio stood at 103.3 percent, with the company’s managing director and chief executive, Sanjeev Mantri, expressing the goal of reaching 102 percent for FY25.

 

CASHe Ventures into Electric 2-Wheeler Financing with ‘CASHe Green’

CASHe has unveiled its latest venture into electric 2-wheeler (e2W) financing with the introduction of ‘CASHe Green.’ This move comes amidst the burgeoning demand within the e2W market, which has witnessed remarkable growth in recent times.

Targeting the rapidly expanding e2W segment, CASHe Green offers tailored financial solutions to cater to the evolving needs of consumers. The platform has forged partnerships with three prominent two-wheeler OEMs, ensuring users access to a seamless, fully digital finance experience.

With a commitment to affordability, CASHe Green boasts competitive interest rates, dipping below one percent per month, along with extended EMIs spread across 20 months. Moreover, the financing options extend up to 2 lakh in credit, enhancing accessibility for potential buyers.

In a bid to provide comprehensive support throughout an e2W’s ownership lifecycle, CASHe Green offers flexibility in financing components such as battery replacements and essential system upgrades. Furthermore, the finance solution includes an exchange option, enabling consumers to trade in their existing Internal Combustion Engine (ICE) two-wheelers for brand new e2Ws.

The timing of CASHe’s entry into e2W financing aligns with the sector’s remarkable growth trajectory. In 2023, e2Ws accounted for a substantial 62% of total EV sales, driven primarily by a threefold surge in e-scooter purchases. Notably, the Indian e2W market witnessed an unprecedented surge, recording a record-breaking 866,853 sales, marking a significant 33.5% increase from the previous year. This surge can be attributed to robust FAME II subsidies and the emergence of ambitious startups in the sector.

 

 

IIFL Finance Plans to Secure Rs 1,272 Crore Through Rights Offering

IIFL Finance, a non-banking financial company (NBFC), announced on Wednesday its intention to raise up to Rs 1,271.83 crore through a rights issue priced at Rs 300 per share. This decision follows the approval granted last month by the company’s board to raise funds of up to Rs 1,500 crore through the issuance of shares to existing eligible shareholders as of the record date.

However, it’s noteworthy that the Reserve Bank of India (RBI) has prohibited IIFL Finance from sanctioning or disbursing gold loans. This directive was issued due to several supervisory concerns, including significant irregularities in assessing and certifying the purity of gold.

In its regulatory filing, IIFL Finance specified that the rights issue entails the issuance of 4,23,94,270 fully paid-up equity shares, with each share priced at Rs 300, including a premium of Rs 298 per share. The record date for eligibility is set as April 23, 2024. Eligible shareholders, holding nine fully paid-up equity shares as of the record date, are entitled to apply for one rights equity share. The application period for existing shareholders is scheduled between April 30 and May 14.

The RBI has stated that the restrictions on IIFL Finance will be reconsidered following the completion of a special audit, to be conducted by the RBI, and upon the company’s rectification of the audit findings and RBI inspection findings to the satisfaction of the central bank.

 

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