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Duroflex appoints Ullas Vijay as CMO

Duroflex has announced the appointment of Ullas Vijay as Chief Marketing Officer and Sudhanshu Krishna as Chief Sales Officer for its Consumer Business division. This strategic move aims to bolster Duroflex’s market presence, drive innovation, enhance customer engagement, and accelerate growth in the competitive sleep solutions industry.

Ullas Vijay, stepping into the CMO role, brings over 16 years of experience in managing brands across lifestyle, fashion, sports, and FMCG sectors. Previously serving as Head of Category & Communication at Bata India, he excelled in identifying market opportunities, leveraging consumer insights, and aligning product branding. Vijay’s expertise in marketing and communications has led to successful campaigns and improved customer experiences, earning him numerous awards.

Expressing his enthusiasm for the new role, Vijay stated, “I’m delighted to join Duroflex, a company renowned for its pioneering innovations in the sleep solutions industry for over six decades. I look forward to driving growth and strengthening our relationships with our customers. By focusing on innovation and enhancing customer experience at every touchpoint, I hope to make Duroflex the most loved sleep solutions brand.”

Sridhar Balakrishnan, Group CEO of Duroflex, welcomed the new appointments, saying, “We are glad to welcome Ullas Vijay and Sudhanshu Krishna to the company’s leadership team. Their combined experience will be instrumental in further driving the growth and success of the organisation. We are excited to onboard these leaders who will steer Duroflex to become the top sleep solutions provider in India by enhancing our market position and value to the consumers as well as stakeholders.”

Secretary, MeitY Unveils Indigenous Air Quality Monitoring System and Launches Air-Pravah App

S Krishnan, Secretary of the Ministry of Electronics and Information Technology (MeitY), inaugurated the Indigenous Air Quality Monitoring System (AQ-AIMS) and launched the Air-Pravah App on Wednesday. These innovations, supported by MeitY, represent a significant advancement in air quality monitoring technology.

S Krishnan highlighted the system’s cost-effectiveness and its alignment with the ‘Make in India’ initiative. “The AQ-AIMS is available in three variants to meet the diverse needs of industries. It has been rigorously tested and validated for various air quality parameters,” he said.

Additional Secretary, MeitY, Bhuvanesh Kumar, emphasized MeitY’s commitment to supporting research and development from concept to product to meet industrial needs. The Ministry of Environment, Forest and Climate Change (MoEFCC) noted that this system would aid in granting environmental clearances.

Developed by the Centre for Development of Advanced Computing (C-DAC), Kolkata, in collaboration with TeXMIN (ISM, Dhanbad) and J M Envirolab Pvt Ltd, AQ-AIMS monitors environmental pollutants like PM 1.0, PM 2.5, PM 10, SO2, NO2, O3, CO, CO2, temperature, and humidity. Following successful trials and certification from the National Physical Laboratory, Delhi, and TUV India, Pune, the system is now being commercialized by J M Envirolab Pvt Ltd and is available on the GeM portal. This innovative solution is a cost-effective alternative to traditional instruments.

The AQ-AIMS system is complemented by the “Air-Pravah” mobile application, which provides real-time Air Quality Index (AQI) monitoring. The app offers features such as quick setup, data visualization, unit conversions, AQI comparison, multi-device support, data analysis tools, remote monitoring, and automatic updates. It will be available on the Android Play Store, and users can activate it by registering with the unique device ID of their AQ-AIMS device.

The inauguration ceremony, held at MeitY in New Delhi, included the presence of S Krishnan, Bhuvanesh Kumar, Smt Sunita Verma (Group Coordinator, MeitY), E Magesh (DG, C-DAC), Dr. Om Krishan Singh (Scientist ‘D’, MeitY), Smt Hena Ray (Scientist E, C-DAC, Kolkata), Sangit Saha (Scientist C, C-DAC, Kolkata), industry partners, and other dignitaries.

Bajaj Finserv Direct Expands Global Presence with UAE Technology Services Hub

Bajaj Finserv Direct Ltd has officially launched its Technology Services business hub in the United Arab Emirates (UAE). The unveiling event at the Dubai International Financial Centre (DIFC) signifies the company’s strategic entry into the Middle Eastern market.

As a subsidiary of Bajaj Finserv Ltd., Bajaj Finserv Direct is well-known for its digital marketplace in India. The establishment of its Technology Services division, Bajaj Technology Services, in the UAE highlights the firm’s dedication to advancing digital transformation on a global level.

Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Ltd., commented, “A digital revolution is underway globally, with AI and emerging technologies reshaping industries and lives. Bajaj Finserv, with its history of tech-driven ventures, is positioned to lead in digital transformation within financial services. The UAE, with its progressive digital agenda, is the ideal location for our international expansion. Through Bajaj Technology Services, we aim to empower businesses in the digital age.”

At the launch, Ashish Panchal, CEO of Bajaj Finserv Direct, stated, “Our entry into the GCC’s leading digital and financial hub marks an exciting milestone for Bajaj Finserv Direct. Embracing the ‘Make in India’ ethos and backed by innovation, Bajaj Technology Services is set to significantly contribute to the digital transformation of businesses worldwide.”

Bajaj Technology Services excels in driving digital transformation through custom applications, data engineering, cloud services, and more. It targets sectors such as financial services, retail, e-commerce, and government enterprises, offering scalable solutions to meet evolving market needs.

The company’s strategy emphasizes a deep understanding of digital consumers, ensuring seamless customer experiences across both online and offline platforms. It prioritizes data privacy, security, and compliance, maintaining robust back-office operations that adhere to industry standards.

The launch of Bajaj Technology Services in the UAE signifies a new era of collaboration and innovation. The company aims to build strong partnerships and effect meaningful change in the dynamic regional market. With its combination of industry expertise and technological prowess, Bajaj Finserv Direct is set to enhance digital transformation services, helping businesses flourish in the digital era.

Health-Tech Startup Docplix Secures INR 1.2 Crore in Bridge Round Led by Inflection Point Ventures

Lucknow: Health-tech innovator Docplix has successfully raised INR 1.2 Crore in a Bridge Round, with Inflection Point Ventures (IPV) leading the investment. The new funding will be allocated to product development, AI integration, and market expansion. The company plans to enhance its Electronic Health Record (EHR) system, incorporate advanced AI capabilities for improved decision support and patient care, and extend its market reach to larger clinics and hospitals.

Docplix aims to revolutionize healthcare in India by digitizing health records for the country’s 1.4 billion population. Its ABDM-compliant EHR system ensures secure and interoperable patient data management. The standout feature of Docplix is its integrated Decision Support System (DSS), which leverages data analytics to help healthcare professionals make informed decisions. Additionally, the company’s innovative visualization tools simplify patient data, improving both patient care and clinic efficiency. Docplix is committed to creating a more efficient, transparent, and patient-centric healthcare system in India.

Founded by a team of experienced professionals—Dr. Varun Garg, a dentist with over 10 years of experience; Aayush Garg, a tech expert with over 8 years of experience; and Dr. Ajay Shukla, an endocrinologist with extensive field experience—Docplix boasts a leadership team with deep expertise in both healthcare and technology.

Vinay Bansal, Founder & CEO of IPV, highlighted the significance of the Ayushman Bharat Digital Mission, which aims to create a health ID repository for all citizens to facilitate information exchange between doctors and patients. He emphasized that Docplix’s mission to integrate technology into healthcare aligns with IPV’s investment philosophy of supporting tech-driven companies that bring real-life improvements.

Docplix has established itself as a leader in digital healthcare solutions, serving over 2,000 doctors and extending its reach through programs and remote clinics in tier-2 and tier-3 cities to address healthcare needs in underserved areas. The company is experiencing rapid growth with a strong customer base and a renewal rate of 93%. Docplix plans to expand globally, starting with the USA in late 2024, aiming to enter lucrative and technologically advanced markets to further amplify its impact.

Dr. Varun Garg, Co-Founder & CEO of Docplix, stated, “Our goal is to become the leading EHR provider in India, leveraging advanced technologies like AI and data analytics to transform healthcare delivery. With a strong foundation and the support of IPV, we are poised to scale globally, starting with the USA, while continuously innovating to meet the evolving needs of healthcare professionals and patients.”

Docplix has achieved significant milestones, including the launch of its proprietary AI model, Pāṇini, and building an ecosystem with over 3,000 doctors. It has emerged as a market leader in Uttar Pradesh and Uttarakhand. The Indian EHR market, valued at approximately $414 million in 2022, is projected to reach $900 million by 2030. Globally, the EHR market, valued at $25 billion in 2022, is expected to grow to $40 billion by 2032. The Indian Lifestyle & Wellness market, valued at $1,300 billion in 2024, is forecasted to reach $9,245.8 billion globally by 2033.

 

DoT Unveils New Initiative to Propel MSMEs and Startups into Industry 4.0 Era

The Department of Telecommunications (DoT) has announced a groundbreaking initiative designed to support Micro, Small, and Medium Enterprises (MSMEs) and startups in their journey towards embracing cutting-edge Industry 4.0 technologies. This initiative includes a call for proposals for a “Industry 4.0 Baseline Survey among MSMEs,” aligning with the broader mission of driving digital transformation and preparing industries for the upcoming 5G and 6G technologies.

The survey aims to identify the challenges MSMEs face in adopting Industry 4.0 and utilizing advanced technologies such as AI, IoT, and cloud computing, along with the integration of 5G and 6G networks. By focusing on at least 10 different sectors, the survey will highlight sector-specific needs and preferences, fostering a diverse and robust ecosystem to enhance innovation and competitiveness.

Over a 60-day period, the survey will cover five sectors each in the northern and southern regions of India. The findings will provide crucial recommendations for policy interventions, aiming to facilitate the transformative adoption of Industry 4.0 technologies, thereby boosting the competitive edge and survivability of MSMEs.

Organizations and startups are encouraged to submit their proposals by June 11, 2024, to be part of this transformative survey. For submission guidelines and additional details, visit the provided link.

No Child Left Behind: Vernacular Education ensures Equitable Learning

The paradigm shift from rote learning to genuine comprehension is being brought about by embracing regional languages in education. It enhances information retention and its practical application in daily life. Students can grasp complex concepts in the language they are most comfortable with—whether it’s Tamil, Bengali, Marathi, or any other local tongue. The inclusive approach which is reflected in the National Education Policy (NEP) 2020 not only makes learning more intuitive; it also truly democratises education, making quality learning accessible to students, even in the most remote areas, and highlights the nation’s commitment towards diversity and inclusion.

The National Education Policy of 2020 emphasises the importance of multilingualism and encourages the use of mother tongues or regional languages as mediums of instruction, at least until Grade 5. This is fueled by a blend of cultural pride, the provision of internet access, and a growing recognition of the effectiveness of learning in one’s native language. This approach not only enhances comprehension but also instils a deeper connection to one’s roots.

Many of India’s prestigious competitive exams, such as JEE, NEET, have adapted to this paradigm by offering tests in up to 13 regional languages. Similarly, UPSC allows candidates to choose from a list of 22 modern Indian languages given in the 8th schedule of the Indian Constitution. This move reflects the nation’s commitment to embracing cultural richness and equal opportunity, ensuring that students from all linguistic backgrounds have an equal opportunity to excel in higher education and professional careers.

The demand for vernacular learning is immense; a Google report highlights that 90% of internet users in India prefer using their native language online. This underscores the importance of providing educational content in regional languages to meet the preferences and needs of the vast majority of internet users in the country.

Having said it all, the widespread adoption of vernacular education comes with its own set of challenges. Ensuring quality and consistency, particularly in remote areas, requires concerted and consistent efforts from policymakers, educators, and communities alike.

One of the key hurdles is the need for a robust network of teachers and educators proficient in local languages. This necessitates targeted training programs, incentives, and recognition for vernacular language educators, ensuring that they are equipped to lead this transformative movement. Teacher training and capacity building are significant, as empowering educators with digital literacy and pedagogical skills enhances the learning experience. Collaborating with teacher training institutes and NGOs to design context-specific programs, including practical sessions, is essential.

Vernacular teaching benefits teachers by allowing them to communicate more effectively with their students, which can enhance the teaching effectiveness and confidence. It also enables educators to better address the cultural and linguistic nuances of their students, enhancing the overall learning experience and creating a more inclusive classroom environment. Teaching in a familiar language fosters stronger teacher-student relationships, promotes active participation, and ensures that educational content is more relatable and comprehensible, ultimately leading to improved academic outcomes and student engagement.

Standardising a curriculum across diverse regions and languages presents a multifaceted challenge. A viable solution is to develop a flexible curriculum framework that includes core modules for fundamental subjects, ensuring consistency in essential learning, along with elective modules tailored to regional languages and cultural studies. This approach balances national educational standards with the need to incorporate vernacular.

Additionally, the development of high-quality vernacular teaching resources and infrastructure is crucial. From textbooks and digital learning materials to virtual classrooms and online platforms, a comprehensive ecosystem must be cultivated to support and sustain the growth of vernacular education.

Technology, when strategically harnessed, can revolutionise vernacular learning by embracing an approach that focuses on high-impact strategies. Content localization by adapting educational materials to the cultural context, idiomatic expressions, and language of specific regions; leveraging the ubiquity of smartphones by creating mobile learning platforms; and and gamifying learning experiences can further encourage consistent learning. Moreover, integrating speech recognition features into language learning apps, which consider regional accents and dialects, provides real-time feedback on pronunciation, helping learners improve their spoken skills.Sanyam Badola

Collaboration between government agencies, educational institutions, technology companies and local communities will be paramount in addressing these challenges. By pooling resources, expertise, and collective commitment, India can pave the way for a truly inclusive and equitable educational landscape where no student is left behind.

Authored by Sanyam Badola, Chief Digital Officer (CDO), PW

Consumer Lending Startup Fibe Secures $90 Million in Series E Funding

Fibe has successfully raised $90 million in a Series E funding round, spearheaded by TR Capital, Trifecta Capital, and Amara Partners. The round also saw participation from existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures, involving both primary and secondary transactions.

Previously known as EarlySalary, the Pune-based company raised Rs 547 crore ($66 million) in a round led by TPG’s The Rise Fund and Kabira Holdings, marking its first investment in two years. The company’s board approved the issuance of 5,46,75,600 Series E CCPS at Rs 100 each, according to regulatory filings.

TPG’s The Rise Fund contributed Rs 133 crore ($16 million), Kabira Holdings Rs 125 crore ($15 million), Eight Roads Ventures Rs 41.6 crore ($5 million), Norwest Capital Rs 62.5 crore ($7.5 million), and Trifecta Rs 55 crore ($6.6 million). Amara Partners and Chiratae Ventures added Rs 29.17 crore and Rs 100 crore, respectively. These funds will support Fibe’s expansion and growth plans.

Valued at approximately $590-600 million post-money, Fibe’s valuation has risen significantly from $350 million in its Series D round. Following this latest funding, TPG’s The Rise Fund holds a 22.72% stake in Fibe, with Eight Roads Ventures, Norwest Capital, Chiratae Ventures, and Kabira Holdings holding 15.8%, 13.58%, 9.59%, and 6.01% respectively.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers various personal and impact loans, including healthcare, edtech, insurance, and school fee financing. Recently, it launched India’s first numberless co-branded credit card. To date, Fibe has disbursed over 6 million loans totaling Rs 20,000 crore.

In its Series D round last August, Fibe raised $110 million led by TPG’s The Rise Fund and Norwest Venture Partners. Overall, the company has raised more than $200 million. For the fiscal year ending March 2023, Fibe’s operating revenue grew 2.3 times, and its profit surged over ninefold to Rs 36 crore, with an operating collection of Rs 414 crore.

Adani Electricity Appoints Sanjeev Muramkar as New CHRO

Adani Electricity has announced the promotion of Sanjeev Muramkar to the position of Chief Human Resources Officer (CHRO). Before this advancement, Muramkar served as the Head of Talent Management, Learning, and Talent Acquisition within the company.

Muramkar’s tenure with the Adani Group began in 2014. His previous professional experiences include roles at Vedanta, Trent, and Wockhardt.

In his statement, Sanjeev Muramkar expressed his gratitude and excitement for his new role. “I am honored to be part of a company that is dedicated to illuminating millions of lives every day. At Adani Electricity, the commitment to empowering people and communities is inspiring. As I prepare to embark on this new journey, I am eager to contribute to a workplace culture that champions innovation, inclusivity, and growth.”

He further added, “I look forward to collaborating with the talented team and building on the strong foundation already in place. Together, we will strive to achieve new heights and illuminate the future with energy, passion, and purpose.”

Muramkar is highly qualified, holding a PhD in Human Resources from the Indian Institute of Technology (IIT) – Bombay, an MBA from Shivaji University, and a BTech in Chemical Engineering from the College of Engineering & Technology, Akola.

AICTE Chairman Launches Doctoral Fellowship Scheme for 2024-25

Prof. Sitharam T.G, Chairman of the All India Council for Technical Education (AICTE), has officially launched the AICTE Doctoral Fellowship (ADF) Scheme for the academic year 2024-25. This initiative is designed to foster a strong research culture and enhance knowledge through a robust ecosystem within AICTE-approved institutions.

The ADF Scheme aims to finance and promote collaborative, high-quality, peer-reviewed research between technical institutions and industries. This collaboration is expected to pave the way for the creation of start-ups and further academic advancement for scholars. Initially exclusive to Engineering and Technology students, the scheme now encompasses all disciplines under AICTE’s jurisdiction.

Annually, 400 scholarships will be awarded under this scheme. A distinctive feature of the ADF Scheme allows scholars to apply directly or through their respective universities, with scholarship funds disbursed via direct beneficiary transfer (DBT).

The scheme offers two categories for application:

– Category A: Candidates can apply directly through the AICTE ADF portal, provided they have a No Objection Certificate (NOC) from their university, adhering to the scheme’s guidelines.

– Category B: Universities can register and admit students into their Ph.D. programs based on their procedures, provided they meet AICTE’s minimum eligibility criteria. An AICTE evaluation committee will assess research proposals to ensure quality in Ph.D. research for both categories.

Eligibility criteria include an age limit of 30 years, with relaxations as per government norms. Junior Research Fellows (JRF) will receive a monthly stipend of ₹37,000, while Senior Research Fellows (SRF) will receive ₹42,000 per month. The fellowship is available for up to five years, and applications can be submitted year-round following the completion of the admission process for the academic year.

SEBI Introduces ‘Saarthi’ App to Simplify Personal Finance for Investors

Securities and Exchange Board of India (SEBI) has rolled out a new mobile application called ‘Saarthi’, aimed at educating investors on personal finance matters.

Designed to demystify intricate financial concepts, the app offers a user-friendly interface, as stated by the market regulator in an official announcement.

Among its key features, the app hosts a suite of financial calculators catering to various aspects such as KYC procedures, mutual funds, ETFs, stock trading, investor grievance resolution, and an online dispute resolution (ODR) platform. Furthermore, it offers a collection of instructional videos tailored to aid investors in their financial planning endeavors.

Describing the significance of the ‘Saarthi’ app, SEBI emphasized its role in equipping investors with reliable insights into the securities market, particularly beneficial for novices embarking on their financial journey.

The app is set to be available for download on both Google Play Store and the iOS app store.

SEBI’s initiative reflects its commitment to safeguarding investors and enhancing their comprehension of the complexities involved in investing. Notably, SEBI’s SCORES Complaints Redress System (SCORES) stands out as another measure aimed at facilitating investor protection. This online platform enables investors to lodge complaints against entities regulated by SEBI, encompassing listed companies, registered intermediaries, and market infrastructure institutions.

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