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Polycab India appoints Ashish Kakkar as CHRO

In a recent development, Polycab India, a provider of electrical solutions, has announced the appointment of Ashish Kakkar as their new Executive President and Chief Human Resources Officer.

Prior to joining Polycab India, Kakkar held the position of CHRO at ICICI Home Finance Company. With an extensive professional background, he has served in various capacities at esteemed organizations such as ICICI Bank, 3i Infotech, ICICI Prudential AMC, and PepsiCo India Holdings.

Bringing in a wealth of experience spanning over 27 years, Kakkar is noted for his expertise in management, organizational development, talent management, leadership cultivation, and operational efficiency, as per an official statement.

Kakkar’s educational credentials include a Post Graduate Diploma in Personnel Management and Human Resource Development from Symbiosis Institute of Management Studies, Pune; a Master of Labour Laws and Labour Welfare from Symbiosis Law College, Pune University; and a Bachelor of Science from Naval Academy, Goa University.

Ola Electric Secures Rs 100 Crore Debt Funding Ahead of IPO

Ola Electric, gearing up for its upcoming IPO, has secured Rs 100 crore in debt funding from Alteria Capital. This marks the second instance of debt financing for the Bengaluru-based firm in 2024.

The company’s board has approved a special resolution to issue 10,000 non-convertible debentures at a price of Rs 1,00,00 each, aiming to raise the aforementioned amount, as per regulatory filings accessed from the Registrar of Companies (RoC).

This move follows closely on the heels of a $50 million debt funding round from EvolutionX just two months prior.

According to the filings, the debentures carry an interest rate of 13.8% per annum, with an additional 2% interest per month in case of default.

Ola Electric, led by Bhavish Aggarwal, has raised over $1 billion through a combination of equity and debt, with a valuation of $5.4 billion in its latest funding round, according to startup data intelligence platform TheKredible.

The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in December 2023, aiming to raise Rs 5,500 crore ($660 million) through an IPO. Reports suggest that SEBI has granted approval for the public listing.

As per the DRHP, Bhavish Aggarwal holds the largest stake at 36.94%, followed by SoftBank at 21.98%. Tiger Global, Indus Trust, and Alpha Wave own 6.03%, 3.85%, and 3.49%, respectively.

Ola Electric witnessed significant growth in FY23, with its revenue soaring seven-fold to Rs 2,631 crore compared to Rs 373 crore in FY22. However, its losses also surged by 87.76% to Rs 1,472 crore in the fiscal year ending March 2023.

In the electric two-wheeler segment, the SoftBank-backed company faces competition from Hero Electric, Ather Energy, TVS, and others. According to Vahan data, Ola Electric commands a 49% market share in two-wheeler EVs, with 37,191 e-scooter registrations in May.

Reshuffle in J&K Administration; Two IAS officers transferred

The Jammu and Kashmir government on Monday (10.06.2024) issued transfer and posting orders for two IAS officers.

The names of the officers and their places of postings are as follows;

Prasanna Ramaswamy G (IAS:2010:AGMUT), Secretary, Revenue Department, has been transferred and posted as Secretary, Tribal Affairs Department.

Kumar Rajeev Ranjan (IAS:2010:AGMUT), Administrative Secretary, Labour and Employment Department with additional charge of Administrative Secretary, Skill Development Department and Chief Executive Officer, Mission Youth, has been given additional charge of Administrative Secretary, Revenue Department.

Entomo Announces Leadership Transition to Propel Future Growth

Entomo, an AI-powered platform transforming performance, skills, and wellness in the modern workplace, has announced a significant leadership change. Prithvi Shergill, a pivotal figure at Entomo since 2019, will step down as Chief Executive Officer (CEO) of Entomo People Experience (PX) to take on his new role as Partner at Entomo and CEO of Tomorrow. Kavitha Venkatachalam will succeed him as the CEO of Entomo PX, effective June 1, 2024.kavita

Under Shergill’s leadership, Entomo PX has revolutionized how organizations create engaging and empowering people experiences, leveraging advanced analytics, behavioral science, and AI to enhance performance and growth. Reflecting on his tenure, Shergill stated, “It has been a privilege to serve as CEO. Our team’s dedication has transformed both individuals and teams. I am confident that Kavitha’s expertise will drive Entomo PX to new heights.”

Venkatachalam, previously Global Partner for Sales and Solutions at Entomo, brings a proven track record of driving business transformation through technology. She expressed her enthusiasm for her new role, saying, “I am excited to lead Entomo on our journey of innovation and growth. We aim to be the top solution in the People Experience domain, leveraging our AI-powered platform to deliver outstanding, user-centric experiences. Together, we will continue to innovate and empower our clients to thrive in the future of work.”

With this leadership transition, Entomo is poised to enhance its Generative AI-powered WorkWise.ai product, aiming to revolutionize the quality of people experiences. The company remains dedicated to applying intelligence and insights to strategy execution, continuously evolving to meet the needs of organizations worldwide.

UGC Allows Biannual College Admissions in India Starting 2024-25 for Greater Flexibility

The University Grants Commission (UGC) has announced that colleges in India will be able to admit students twice a year starting from the 2024-25 academic session. This decision aims to provide higher education institutions (HEIs) with greater flexibility, allowing them to offer admissions either in January-February or July-August.

Colleges offering programs in both online and physical modes can now utilize this biannual admission policy, although it is not mandatory. The option is designed for institutions looking to increase student intake and introduce new programs in emerging fields. To implement this change, colleges will need to amend their existing rules, as per UGC guidelines.

Previously, UGC had permitted biannual admissions under Open and Distance Learning (ODL) and online modes, leading to a substantial increase in enrolments. In July 2022, a total of 19,73,056 students enrolled, with an additional 4,28,854 students joining in January 2023. This demonstrated that the second academic session enabled nearly half a million students to commence their degree programs without waiting a full year.

UGC Chairman M. Jagadesh Kumar highlighted the benefits of the new policy, noting that students who miss the July-August admissions due to delays in board results, health issues, or personal reasons can now have another opportunity in January-February. Additionally, biannual admissions are expected to enhance campus recruitment opportunities for industries, improve employment prospects for graduates, and allow HEIs to manage resources like faculty, labs, classrooms, and support services more efficiently, leading to a better operational flow within universities.

How Goa Electronics Limited is Shaping the Future of IT Solutions, CEO & ED Revati Kumar shares Insights with ObserveNow

As technology rapidly evolves, companies must stay innovative and adaptable to emerging trends to remain competitive. Goa Electronics Limited (GEL) exemplifies this adaptability by focusing on three critical IT areas: Business Consultation, Software Solution Provision, and Hardware Supply and Maintenance. By understanding customer needs, building robust solutions, and offering long-term support, GEL’s comprehensive “Plan, Build, Manage” approach ensures cohesive solutions that drive business success.

In this regard Shivani Babbar, ObserveNow interacted with Revati Kumar, CEO & Executive Director, Goa Electronics Limited to gain further insights on the matter.

Here are a few edited excerpts from the interview: Can you share some insights into the current projects or initiatives Goa Electronics Limited is undertaking?

Goa Electronics Limited (GEL) handles various enrollments:

1. ONE MAP Goa GIS: A GIS-based decision support system for government use in Goa with a mobile app and web portal, real-time data integration, and citizen features for navigation, surveys, and feedback.

2. Scheme Management Framework (SMF): A platform for managing government schemes, offering direct cash transfers, centralized reporting, and process efficiency for applications and fund distribution.

3. Goa Online Services: A single-window system for e-government services, rated highly by users, providing 237 services across 40 departments with advanced features like Aadhaar eSign and real-time tracking.

4. Bhumija: IT solutions for regulating mining activities in collaboration with the Department of Mines and Geology, including online permits, stock management, and vehicle tracking.

These projects reflect GEL’s dedication to using technology to improve governance, service delivery, and transparency.

In what ways do you see technology evolving in the near future, and how is your company adapting to these changes?

At Goa Electronics Limited (GEL), we are dedicated to enhancing our services through advanced technologies. As web development evolves, we’re integrating new technologies into our Automated Service Processing System (ASPS) to improve citizen services. Our focus is on delivering a better User Experience (UX) with dynamic, responsive interfaces and ensuring our services are agile and scalable for a growing user base. We streamline development with a component-based approach, enabling faster feature deployment.

We are committed to innovation and excellence, investing in research and development, upskilling our team, and forming strategic partnerships. Embracing new technologies, such as AI and Chatbots, allows us to improve our offerings and focus on sustainability with eco-friendly solutions. Continuous learning is key to staying ahead in technological advancements.

At GEL, we’re excited about the future of technology and are ready to adapt and innovate to meet upcoming challenges and opportunities.

Goa Electronics Limited operates in a rapidly evolving technological landscape. How do you ensure that the company stays innovative and adaptable to emerging technologies?

Goa Electronics Limited thrives in a rapidly changing technological environment by employing a comprehensive strategy. This includes continuous employee training through workshops, online courses, and certifications, as well as inviting industry experts for guest lectures and fostering internal knowledge sharing. The company stays current with market trends by conducting regular market research and participating in industry conferences and expos. By achieving and maintaining CMMI Level 4 certification, they ensure high process maturity, regular process optimization, and strict quality assurance. Additionally, fostering a culture of innovation through cross-functional teams helps the company remain agile and innovative in the face of emerging technologies.

What are the biggest challenges facing Goa Electronics Limited, and how do you plan to address them?

Goa Electronics Limited (GEL) faces several significant challenges in the dynamic and rapidly evolving technology landscape. Addressing these challenges is critical to maintaining our competitive edge and ensuring sustainable growth. The following are the main obstacles and our calculated plans to overcome them:

1. Technological Advancements and Innovation

Challenge: To remain relevant in the face of swift technical advancements, one must constantly innovate.

Plan: We plan to invest heavily in R&D to foster innovation. This includes forming strategic partnerships with leading technology firms, academic institutions, and startups to collaborate on cutting-edge projects. We will also encourage a culture of continuous learning and creativity within our organization through regular training and innovation workshops.

2. Cybersecurity Threats

Challenge: The increasing complexity and frequency of cybersecurity threats pose significant risks to our operations and customer data.

Plan: Strengthening our cybersecurity infrastructure is paramount. We will implement advanced security measures, conduct regular vulnerability assessments, and invest in state-of-the-art cybersecurity technologies. Additionally, we will ensure our staff is well-trained in cybersecurity protocols and best practices through ongoing education and awareness programs.

3. Customer Expectations

Challenge: Rising customer expectations for seamless and innovative technology solutions.

Plan: We will prioritize customer satisfaction by continuously enhancing our product offerings and customer support services. Regular feedback loops with our clients will help us understand their needs better and tailor our solutions accordingly. Implementing customer-centric strategies and leveraging data analytics will also play a crucial role in meeting and exceeding customer expectations.

Could you share some examples of successful collaborations or partnerships Goa Electronics Limited has engaged in to enhance its products or services?

GEL will undertake a multi-faceted approach aligned with our strategic initiatives and ongoing projects:

1. Leveraging Ongoing Collaborations:

DAC Project: Use this collaboration as a model to showcase successful public-private partnerships through webinars and case studies, attracting more stakeholders.
Goa Taxi App Project: Collaborate with government agencies and local businesses to demonstrate the app’s impact on transportation, encouraging broader adoption.
Website Development and Designing Agencies (WDDA): Select and empanel agencies for website-related activities for state government departments, ensuring efficient management and maintenance.

2. Strategic Engagement with Government Agencies:

PM Gati Shakti (GIS): Engage with government officials through regular dialogue, participate in policy panels, and align our projects with national infrastructure initiatives.

Lastly, what excites you the most about leading Goa Electronics Limited into the future, and what do you hope to achieve during your tenure as MD?

I am incredibly excited about leading Goa Electronics Limited (GEL) into the future because of the tremendous potential we have to make a positive impact. GEL stands at the intersection of technology and public service, offering us a unique opportunity to transform lives through innovation. What excites me the most is the chance to harness cutting-edge technology to create solutions that directly benefit the people of Goa.

One of my primary goals is to ensure that our digital services are accessible to everyone, including those in the most remote areas.I want to make technology a part of daily existence, improving the effectiveness, transparency, and usability of public services.This means developing platforms that are both advanced and simple, ensuring that everyone, no matter their level of technical skill, can use them easily.

Another key objective is to foster a culture of continuous learning and innovation within our organization. I believe that by empowering our talented team with the right tools and training, we can drive significant advancements and stay ahead of the curve in the ever-evolving tech landscape.

Sustainability is also a crucial focus for me, heading GEL towards greener practices, leveraging technology to reduce our environmental footprint and promote eco-friendly solutions.

Lastly, vision for GEL is to be a beacon of technological excellence that not only drives progress in Goa but also serves as a model for other regions. By focusing on accessibility, innovation, and sustainability, We are confident that we can achieve remarkable growth and make a lasting positive impact on our community.

Leena Nandan Assumes Additional Role as Secretary of Civil Aviation Ministry Temporarily

Leena Nandan, an IAS officer from the 1987 Uttar Pradesh cadre, is set to take on an additional role as Secretary in the Ministry of Civil Aviation. Currently serving as Secretary in the Ministry of Environment, Forest and Climate Change, Nandan’s new responsibilities come as a result of an order issued by the Department of Personnel and Training on June 11th, 2024.

This additional charge is slated to last from June 12th to June 17th, 2024, during the absence of Vumlunmang Vualnam, a fellow IAS officer from the 1992 Manipur cadre.

Nandan’s temporary assignment reflects the administrative strategy to ensure seamless operations within the Ministry of Civil Aviation despite Vualnam’s temporary absence. As an experienced civil servant with a background in environmental affairs, Nandan’s expertise is expected to contribute to the efficient functioning of the ministry during this transitional period.

Apple Unveils ‘Apple Intelligence’ in Partnership with OpenAI

Apple has unveiled “Apple Intelligence,” a new suite of AI features for its devices, marking a significant partnership with OpenAI. This move, announced on Monday, aims to close the gap with competitors who have rapidly integrated advanced AI technologies into their offerings.

The announcement came amid increasing pressure on Apple to solidify its AI strategy, following the aggressive rollouts of AI products by Microsoft and Google. Tim Cook, Apple’s CEO, emphasized that this initiative would elevate the user experience of Apple products, during his keynote at the annual Worldwide Developers Conference in Cupertino, California.

A key highlight of the announcement is Apple’s collaboration with OpenAI, renowned for launching the groundbreaking generative AI tool, ChatGPT, in 2022. The new AI features will be integrated into iOS 18, also revealed at the week-long conference.

Apple executives underscored that privacy safeguards are integral to Apple Intelligence. These safeguards are designed to enhance Siri and other Apple products without compromising user data. Analysts have noted that Apple faces a significant challenge in incorporating data-intensive AI like ChatGPT while maintaining its strong commitment to user privacy and security.

Craig Federighi, Apple’s senior vice president of software engineering, stated that Apple Intelligence places powerful generative models at the heart of iPhones, iPads, and Macs. He highlighted that the system leverages personal context to provide the most relevant and helpful intelligence, all while ensuring user privacy.

Notable features of Apple Intelligence include the ability for users to create personalized emojis through simple descriptions and generate concise summaries of emails in their inboxes.

Tags: AppleOpenAI

Sophos Announces Joe Levy as New CEO

Sophos has officially appointed Joe Levy as its new Chief Executive Officer (CEO). Levy, who has been serving as acting CEO since February 15, has also appointed Jim Dildine as the new Chief Financial Officer (CFO) and a member of his senior management team to support his strategic vision for the company.

With nearly three decades of experience in cybersecurity innovation and leadership, Levy has played a pivotal role in transforming Sophos over his nine-year tenure. Under his guidance, Sophos evolved from a product-focused company to a global cybersecurity powerhouse. This transformation included the development of an incident response team and a Managed Detection and Response (MDR) service that now protects over 21,000 organizations worldwide.

Levy’s initiatives also led to the creation of SophosAI and Sophos X-Ops, an operational threat intelligence unit comprising more than 500 cybersecurity experts. These teams enhance Sophos’ solutions with real-time and historical attack data, improving their effectiveness in defending against cyber threats.

Levy’s extensive experience with managed security providers (MSPs) and the channel dates back to his career beginnings in the mid-1990s as a cybersecurity practitioner and product innovator at a value-added reseller. As CEO, Levy aims to expand Sophos’ customer base in the midmarket sector, which includes nearly 600,000 clients and generates over $1.2 billion in annual revenue.

Battery Smart secures $65 million in funding led by LeapFrog Investments

Battery Smart announced on Tuesday that it has successfully raised $65 million in a funding round, with LeapFrog Investments leading the charge. The funding, which includes both primary and secondary investments, marks a significant milestone for the battery swapping network.

The Series-B funding round saw the participation of various investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund (EIF), Blume Ventures, and British International Investment (BII), alongside both new and existing backers, as stated by the company in a press release.

According to Battery Smart, the freshly acquired funds will be deployed to propel the company into its next phase of expansion. Pulkit Khurana, Co-Founder and CEO of Battery Smart, expressed his optimism about the future, stating, “The fresh capital will enable us to accelerate our expansion, enhance our technology, and strengthen our market presence.”

Having initiated its journey with the launch of its first swap station in the National Capital four years ago, Battery Smart has rapidly grown to encompass 1,000 stations spread across 30 cities. The company has completed over 35 million swaps and has extended its reach nationwide with charging stations established in tier 1, 2, and 3 cities.

LeapFrog Investments sees this investment as aligned with its Climate Investment Strategy, aimed at injecting $500 million into innovative companies capable of swiftly scaling new low-carbon, low-cost technologies across growth markets in Asia and Africa, noted Nakul Zaveri, Partner and Co-Head of Climate Investment Strategy at LeapFrog Investments.

Battery Smart highlighted the immense potential of India’s burgeoning vehicle market, projecting a surge to 200 million two-wheelers and 12 million three-wheelers by 2030.

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