Archive: May 4, 2022

India’s leading consumer tech clear aligner brand toothsi raises $40 million in a Series C financing round

Mumbai, May, 2022: toothsi, India’s leading clear aligner technology brand, has raised $40 million in Series C funding from leading global investment firm Eight Roads Ventures, South Korea-based Paramark, IIFL, and the family office of Medlife co-founders: Prashant Singh and Tushar Kumar. Existing investors Think Investments and the Mankekar family office also participated in this round along with select independent angel investors including Aditya Puri, former managing director of HDFC Bank and Karan Singh, managing partner of Bain & Company’s India offices.

Founded in 2018 by renowned orthodontists, Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kale, toothsi has already designed smile makeovers for 140,000 customers in India, empowering them with access to at-home, new-age teeth straightening with invisible, 3D-printed clear aligner technology. toothsi promises strict adherence to the highest global standards and the top-notch quality benchmarks set by the company’s co-founders, some of whom are pioneers in the field of invisible orthodontics. toothsi is the only Indian consumer-facing aligner brand that offers ISO- and CE-certified in-house aligner manufacturing and treatment planning.

Commenting on the latest funding round, Dr Arpi Mehta Shah, co-founder and CEO, toothsi, said, “The brand intends to be the one-stop platform for doctor-directed solutions for cosmetic dentistry and dermatology. The support of our investors has empowered us to bring to life our vision of building a first-of-its-kind clinical beauty technology brand. We, at toothsi, intend to use this capital to build a great team for further geographic penetration and category expansion.”

Building on its vision of clinically-validated aesthetic and functional services and products, toothsi has also scaled up its sister brand ‘skinnsi’ which provides at-home laser-assisted cosmetology services. Over the past few months, the company has also introduced a variety of dental and skin self-care products including an innovative teeth whitening and oral hygiene product line.

The company’s customer base, and with it the company’s revenue, has registered robust growth so far. toothsi aims to further scale its technology platform and operations to ensure a seamless customer experience across the treatment journey. Besides that, the company plans to invest in robotic automation for aligner manufacturing.

toothsi’s pan India network currently encompasses more than 2,000 partner dental centres. The company intends to further expand the toothsi brand’s availability to tier II cities in the near future to ensure more customers have access to toothsi’s orthodontic products and services.

Dr Prem Pavoor, Senior Partner, Head of India & Healthcare Investments, Eight Roads Ventures, said, “We are pleased to deepen our partnership with toothsi. Since our first, smaller investment last year, the company has continued its successful transformation into a leading clinical cosmetology brand. We welcome our new co-investors and wish the toothsi team the best in what is poised to be an exciting year ahead.”

In January 2021, toothsi raised $5 million in Series A funding. Later in the same year, the company raised another $20 million in Series B funding.

Bhago Mobility Solutions acquires stake in Pastiche Energy Solutions marking forward its footprints in Advanced Energy Storage and Green Mobility

New Delhi, May 2022: Bhago Mobility Solutions Private Limited (Bhago), the Green Energy Vertical for Modern Automotive Limited (MAL); a Next-Gen Technology Startup on a mission to transform the society towards Carbon Neutrality and Green Economy, announces their latest equity acquisition in Pastiche Energy Solutions (P) Ltd (Pastiche), one of the oldest players in the Energy Storage Sector in India, since 2015. The partnership will aggregate the strengths of both the companies towards the manufacturing of Solid State Batteries, Lithium batteries and Allied Products for applications such as Electric Mobility, Energy Storage, Defence, Aerospace, Telecommunications and others.

Through this acquisition, Bhago leads the Green Energy Vision for MAL for its commitment towards Advanced, Safe and Reliable Solid State Battery Energy Solutions. Both the companies, Bhago and Pastiche, bring in their strong value additions towards offering state-of-art product and solutions to the society. Pastiche brings its experience and knowledge in the field of Lithium Battery Technology, Manufacturing, Sales and Products for various application and Bhago, through MAL, brings its existing relations with the Japanese and Global Automotive OEMs, International & National Collaborations, Organisational Strengths, Engineering Skills, Manufacturing Capabilities, Operational Processes and Engineering Technology. In addition to scaling up the existing business activities of Pastiche, the company through its deep rooted investments in the Energy Sector, since 2019, focuses on creating a remarkable presence in the field of Electric Mobility and Stationary Storage Systems through its Advanced Solid State Battery Technology.

Bhago-Pastiche has commenced operations at Chandigarh and Bangalore, and further expanding operations in Gurgaon and Ahmedabad to develop a PAN India Sales and Support network.

For the growth expansion, Bhago has allocated a total investment of USD 16 Million for its Green Energy Vertical. An upfront investment of USD 4 Million shall be made into Pastiche as Capex and Upgradation of the existing setup to a State-Of-Art Production and Testing Facility at Chandigarh. The company has also stated its plans to set up a dedicated R&D unit in Bangalore for Cells and Battery Packs. Another USD 12 Million is planned and scheduled to be infused within two years, with a vision to have an installed production capacity of 1GW. Within QTR 2 2022, the company would be demonstrating its new range of Cell Technology – Solid State Battery, gaining the 1st movers advantage in the technology in India. The company is set to launch Advanced Modular Battery Solutions, which are not only compact, intelligent and swappable but through Battery Analytics and Artificial Intelligence offer predictive and safe battery solutions. These customised battery packs can also be monitored and controlled in real time through remote monitoring and GPS solutions. Another added bonus, which is the USP of our cell technology, we can proudly state that our Fully Solid State Batteries do not catch fire!

Commenting on this, Aditya Goyal, Managing Director, Modern Automotives Limited, had this to say, “Considering the Vision 2025 for Modern Automotives Limited, BHAGO is set to establish a complete ecosystem around Green Mobility, right from the basic raw material to the final delivery of services. Storage of energy is an important key factor for green mobility; BHAGO has dedicated resources towards advanced battery technologies for lithium ion batteries, solid state batteries, lithium ion capacitors and additive manufacturing. Pastiche has been serving to a wide variety of customers across different applications like solar, electric vehicles, medical, defence, robotics, energy storage etc. Considering the need for downstream products which can directly serve the applications, Bhago reviewed and understood the operations, capabilities and strengths of Pastiche and decided to invest in the company.”

Vipul Duggal, Managing Director, Pastiche Energy Solutions Private Limited added, “Pastiche is amongst the oldest lithium battery manufacturing companies in India since 2015. Over the years, Pastiche has been able to develop a respectable brand identity across different products, solutions and applications in the Government, Public and Private Sectors. Bhago-Pastiche together leverage and complement the strengths and capabilities of each other. Through their Solid State Battery Technology, together the companies are committed to adopt and deliver Advanced Energy Solutions and work towards a greener and safer future.”

With a bull’s eye target to establish Bhago-Pastiche as a prominent brand in the industry, the team is clearly focused and committed to use Deep Tech Cell Technologies for manufacturing intelligent, predictive, regenerative and modular Battery Solutions for a Positive Transformation of the planet towards carbon neutral societies and green recyclable economies.

For more than 15years, Modern Automotive Limited is the Tier 1 Supplier for leading 2 wheeler automotive companies like Honda, Hero, TVS, etc. The company has leveraged its skills and experience and invested its resources in Solid State Battery Cell Technology, Battery Pack Building and Testing to deepen its footprints in the Green Mobility Vertical through Bhago. Additionally, the company has also invested in Advanced and Unique Technologies which enhance the efficiency and deliverability of Electric Vehicles. The company has also invested in Application Technology for the final delivery of services to the customer at his door step. The company has also invested in Recycling Technologies, as its commitment and responsibility towards a green and safe society.

Swiss Re Bangalore launches 5th edition of ‘Shine’; its flagship program to accelerate social entrepreneurs and early-age start-ups

Bangalore, May 04, 2022 – Swiss Re Bangalore, the Global Business Solution Centre of Swiss Re in India has launched the 5th edition of its flagship social entreprenuership program – ‘Shine’.

Conceptualized as a transformative leadership development program, Shine is open to all early stage social entrepreneurs, with a goal to drive innovations that strengthen societal resilience in India.

This entrepreneurship program aims to support next-generation social innovators in translating their solutions into scalable business models to maximize social impact., Shine aims to collaborate with and nurtrue applicants aiming to create impact in Transformation to Net Zero, Climate Smart Agriculture and Disaster Risk Reduction, Access to Health, Healthy Nutrition.

Applications are now open for social enterprises across India. Last date to apply for Shine is, June 8th, 2022. To apply, one can find the application form on the Swiss Re Foundation website.

Commenting on the vision of the Shine’s program, Amit Kalra, Managing Director & Head, Swiss Re GBS Bangalore, said, “Our vision at Swiss Re is to make the world more resilient, inspiring us to enable the society to thrive and progress. We have a collective responsibility towards the communities in which we operate, and we strongly believe that the solutions to most of our social challenges will come through innovative and entrepreneurial thinking. Shine, our regional social entrepreneurship program, supports social innovators in translating their solutions into scalable business models to maximize social impact. We look forward to partnering with social entrepreneurs in helping them build or scale their solutions to improve the lives of the communities they serve.”

What’s in it for the start-ups? 

A six-month immersive learning program based on desgin thinking, along with a diverse and skilled team of top talents in Swiss Re Bangalore, to develop a financially viable & scalable business plan to accelerate growth of the enterprise.

Sharpened focus and approach to scale business through personalized leadership & business coaching from mentors in line with international standards

Visibility in the local social entrepreneurial ecosystem

Long-term association with Swiss Re Foundation to support the innovator in their progress and assess impact

Grand amount of up to INR 20 lakhs to implement their plan

Over the last two years, Shine has helped two social entrepreneurs scale up their business models. Sunbird Straws (2020) who have developed world’s first eco-friendly straws from coconut leaves with patented in-house technology. They employ rural women with production units in Karnataka, Tamil Nadu & Kerala.

In 2021, Swiss Re supported HydroGreens that uses solar powered climate moderated multipurpose grow houses to deliver high-protien “Fodder Produce” as a service to small and marginal dairy farmers.

Vasanth Kamath, Co-founder of HydroGreen, said: “Shine Program has helped us tremendously in sharpening our narrative, laying the foundation of our franchisee model and providing much needed market linkages. The support from Swiss Re team, with diverse skill-sets, has been invaluable for us as we enter our accelerate growth phase”

IIM Lucknow Launches the Third cohort of the Senior Leadership Programme

Mumbai, May 4, 2022: The Indian Institute of Management Lucknow (IIM Lucknow), ranked as the #4 best B-School in India (Business Today, 2021) and #7 as per NIRF, 2021, has announced the launch of the third batch of the Senior Leadership Programme. This cutting-edge 11-month programme enables mid-and senior-level professionals with minimum seven years of work experience to develop strategic insights and diverse functional expertise needed to lead business success through live online and a five-day in-campus immersion at the IIM Lucknow campus. This career-defining programme has enrolled close to 200 participants in the past two batches.

The world of business is evolving at an accelerated pace, and so are the demands on today’s executive leadership. A traditional approach to leadership, strategic thinking and decision-making are no longer sufficient to address disruptive technologies and shifting consumer preferences, all in the context of the evolving future of work dynamics. 90% of Indian CEOs would like to invest in leadership and talent development (PwC’s Global CEO Survey – The India Outlook, 2021).

Through experiential learning, the Senior Leadership Programme will equip participants to stay industry-ready with strategies for success in today’s evolving business landscape, emerging technologies, and shifting customer preferences. Transform into a skilled business leader and transition from a managerial to a leadership role to effectively lead digital transformation, manage financial strategies and P&L accounts, and spearhead cross-functional teams. At the end of this programme, participants will receive a certificate of completion from IIM Lucknow and eligibility for the prestigious IIM Lucknow Executive Alumni Status. This programme will challenge the participants’ established understanding of business management and develop the senior leadership competencies to steer their organisation confidently towards achieving revenue-generating results.

Commenting on the launch of the third batch of the programme, Programme Directors Prof. Archana Shukla, Director, Indian Institute of Management Lucknow and Prof. Ajay Singh, Professor, Human Resource Management, IIM Lucknow, said, “Leaders need to continuously learn and innovate to align with the increasingly complex business demands. According to a Deloitte (2021) report, 72% of the leaders agree that the capacity of their workforce to adapt, reskill, and take on new roles is central to their company’s ability to navigate future disruptions. The programme’s industry-aligned curriculum will help participants on their journey to the C-Suite enhance their leadership acumen, sharpen their real-time decision-making skills and provide a holistic approach to tackling real-world cross-functional challenges”.

Mr. Mohan Kannegal, CEO, India and APAC, Emeritus, said, “Effective leadership requires knowledge across domains, managing teams, and taking effective business decisions which have the potential to make a difference. The Senior Leadership Programme would help professionals attain a competitive edge in the fast-paced business environment. This programme is designed to help the learners develop a future-ready leadership mindset and strategic decision-making skills. As per industry reports, nearly 70% of Indian CEOs viewed the pandemic as a top threat to growth last year. Now close to 97% are confident about their own company’s prospects for revenue growth not only in the near term but also in the near term over the next three years. With insights from leading IIM Lucknow faculty, our participants are poised to be game-changers in their organisation, driving long-term business growth and success”.

The third batch of this programme begins on June 30, 2022, and has a fee of INR 4,10,000 + GST, with flexible payment options and low-cost EMI options available. The programme is offered through Emeritus, a global leader in making high-quality education accessible and affordable, offering a digital-first, seamless learning and high engagement experience. Visit the programme page for more details on the programme, and interested applicants should apply soon.

Over 80% people own smartphones under Rs 20k, Samsung most popular in Rs 10-30k range: MySmartPrice Smartphone Consumer Survey

New Delhi, 4th May 2022: A smartphone survey by MySmartPrice has revealed multiple insights about users, ranging from brand popularity and customer loyalty. The survey has revealed that Apple and OnePlus are the two brands with the maximum customer retention with a retention rate of 81% and 62% respectively. Realme and Vivo have the lowest retention rate. Samsung is the most popular smartphone brand in the price range of Rs 10,000-Rs 30,000, according to the survey, conducted by MySmartPrice, one of India’s top gadget research sites.

The survey further reveals that offline stores are still the most popular platform for smartphone purchases accounting for about 45% of the preferred source of purchase.

The smartphone survey has covered various aspects ranging from brand popularity to purchase behavior and features to brand satisfaction. Around 80% of the respondents own smartphones of the top 7 brands including Xiaomi, Realme, Vivo, and Oppo, apart from Apple, Samsung, and OnePlus. Samsung emerged as the top-selling smartphone brand, with 17.2% of respondents owning the brand.

Apart from that, it was found that people prefer replacing their phones and going for newer models. Cash on Delivery (COD) is still the most dominant method of payment, accounting for 51% of the total responses. More than 80% of respondents own smartphones under Rs 20,000.

The survey also indicated that most researches were made using resources online (approximately 60% of researches) including review videos and gadget research platforms. Only 22.4% of the researches were made by checking out phones in offline stores. Major e-commerce marketplace Flipkart was found to be slightly more popular than Amazon among smartphone shoppers.

A whopping 73% of people were found to be satisfied with their current smartphone brand, as per the survey.

Coming to smartphone features and brand satisfaction, the most popular smartphone battery variant was found to be in the range of 5000-5999 mAh. For RAM size, 41% of the respondents prefer the 8GB variant, while 35% of the respondents prefer the 6GB model. On storage size, 47% preferred the 128GB variant, while 27% preferred 256GB or higher variants.

In terms of the front camera, only Apple and OnePlus have satisfaction over 75% while Samsung and Xiaomi have the lowest satisfaction. When it comes to rear camera, then Apple, OnePlus, and Poco have the highest satisfaction level more than 75% while Huawei and Xiaomi have the lowest satisfaction for the rear camera. For battery life, most respondents were satisfied with the battery performance of Infinix, followed by Poco, OnePlus, Vivo, and Realme.

On smartphone speed, Apple and OnePlus have a satisfaction level of higher than 80%. Huawei, Xiaomi, and Samsung perform the worst in this aspect. For charging speed, OnePlus, Realme, and Poco have a satisfaction level more than 75% while Moto, Huawei, Samsung, and Tecno have the least positive rating.

Almost all major smartphone brands have a similar satisfaction level for display quality, all exceeding 75%, while OnePlus, Apple, Poco, Infinix crossed the 80% satisfaction level mark.

In addition to this, the survey indicated that about 40% of the respondents use their phones for more than 6 hours a day and 68 per cent use their phones for more than 4 hours a day.

The smartphone survey, which considered 10,184 smartphone users, clearly shows that overall, smartphone users are looking for quick updates and upgrades, which boosts the prospects for innovations in the industry.

Appointment of Yesh Nadkarni, Chief Executive Officer, Wholesale Lending

Mumbai, India | May 04, 2022: Piramal Enterprises Limited (‘PEL’) today announced the appointment of Yesh Nadkarni as CEO of Wholesale lending, in Piramal Capital & Housing Finance Limited (PCHFL), a wholly owned subsidiary of PEL, with a primary focus on real estate lending business.

In his role, Yesh will be responsible for further expanding PCHFL’s wholesale lending business, building a high-quality granular book across different real estate segments, establishing, and strengthening key client relationships and using data analytics/AI to enable superior underwriting.

Yesh joins PCHFL from global investment firm KKR, where he was Managing Director & CEO of the India Real Estate lending business. Yesh has over 22 years of real estate investing experience across debt, equity and special situations spanning India, Australia, and Southeast Asia. He has also held senior leadership roles at J.P. Morgan, and ICICI Prudential. Yesh has a Masters in Finance from the London Business School and is a Bachelor in Production Engineering, from University of Pune, India.

Khushru Jijina will continue as Executive Director for financial services on the PEL board. He will continue to lead the treasury function, manage the existing book, lead recoveries from the acquired distressed wholesale book and continue to be a senior guide and mentor to the team.

Anand Piramal, Executive Director, Piramal Group said “I am delighted to welcome Yesh to the Piramal family. Yesh brings with him over two decades of experience in the real estate lending space and he has to his credit built high quality books despite external challenges. His expertise will give further impetus to Piramal’s endeavour of driving sustained growth in the market. The real estate sector, coming out of the headwinds faced in the last few years, is today well poised for growth in the coming time. On-boarding right talent and experience is the necessary multiplier for us to further tap the market potential, create value for our stakeholders and work towards becoming one of India’s leading financial services institution. I wish Yesh every success in his new position.” 

“I am inspired by Piramal’s vision to build a distinguished and strong financial services institution, with a clear strategic direction,” said Yesh Nadkarni. “Joining a company that is so uniquely well-positioned to deliver long-term value to stakeholders, is an exciting opportunity, especially when you consider the tremendous potential that the real estate sector in India holds. I look forward to working closely with the Piramal team and I am confident that there is no better time than now to build on the momentum of the dynamic financial services landscape in India.”