Archive: December 15, 2022

Taboola Signs Exclusive, Multi-Year Deal with Time Out to Become New Global Recommendations Provider

New Delhi, December 15, 2022 – Taboola (Nasdaq: TBLA), a global leader in powering recommendations for the open web, today announced a new multi-year deal with Time Out, a global media and hospitality business that inspires and enables people to discover and experience the best things to do, see and eat in 333 cities in 59 countries. Taboola will be implemented across all Time Out websites globally, including the U.S., U.K., France, Spain, Portugal, Singapore, and Australia.

Under the agreement, Taboola will be featured on Time Out websites across articles, venues, and landing pages. Time Out will also leverage Taboola Feed, a seamlessly integrated feed that provides readers with personalized content for a more engaging experience and video. Additionally, Time Out will incorporate Taboola Newsroom, a technology offering that uses advanced A.I. and readership signals from millions of daily active users. The newsroom will help Time Out further understand its audiences, learn about its most engaged articles and conduct A/B testing for headlines.

“We are focused on further evolving Time Out’s digital strategy as we continue to reach a wider audience across our digital platforms spanning web, mobile, emails, social, and video. These are the channels where we have seen growth and engagement so it’s a great step for us to work with Taboola to further drive a more engaging experience and interaction with our audience,” said Rachel Glickman, Managing Director, of Global Digital Innovation & Operations at Time Out. “Time Out chose to collaborate with Taboola due to their scale, data, and innovation through tools like Taboola Newsroom and their hands-on, personable approach to account management.”

“Time Out is a great brand with a global team of local expert journalists, trusted by millions of people around the world when they go out,” said Adam Singolda, CEO and founder, of Taboola. “We are excited to work with Time Out and use our technology to support their future audience growth and commitment to innovate.”
Pic Credit:avianwe.com

Bosch Global Software Technologies Inaugurates New Smart Campus in Hyderabad to Strengthen Global Delivery Network

Hyderabad, December  2022: Bosch Global Software Technologies (BGSW) formerly known as Robert Bosch Engineering and Business Solutions (RBEI), inaugurated its new smart campus at HITEC City in Hyderabad to strengthen its software-centric product innovations.

The Center of Excellence is a Technology and Innovation R&D center focused on Automotive Engineering and Digital Enterprise. In the Automotive Engineering domain, the facility will work on Classical Powertrain, Automotive Steering, e-Mobility, Cross Domain Computing (ADAS, Autonomous Driving), Active and Passive Safety, and Digital Cockpit Systems. On the Digital Enterprise front, it will focus on Enterprise IT technologies, Cloud technologies, AIoT/ML, Cyber and Embedded security, Connected Products, and Connected industry solutions.

“BGSW’s new campus is testimony to the engineering talent and innovation focus in Telangana. The Government’s focus on providing world class infrastructure to technology companies has helped attract various corporations in the state, boosting employment and propelling Hyderabad as the ideal tech city in the country”, said Shri K T Rama Rao, Honourable Minister for IT, Industries, Municipal Administration and Urban Development of Telangana, who inaugurated the new facility.

Speaking on the inauguration, Kiran Sundara Raman, Vice President, Center Head – Hyderabad, Bosch Global Software Technologies (BGSW) said, “With a strong focus on Research & Development, BGSW has a strong global footprint and wants to leverage the world-class talent market of Hyderabad and Telangana for engineering and digital business to build a strong global delivery network. We believe that with our presence in Hyderabad, BGSW will be able to bring software-centric innovation to products for both the Indian and global markets of Bosch. Our local presence in Hyderabad will help us in strengthening our relationship with existing and new customers in the region.”

BGSW has two facilities already operational with a professional workforce of about 1,500 associates in Hyderabad. To consolidate their operations, they will be moving into the new state-of-the-art, 1.5 Lakh Sq. Ft facility, and plan to build the workforce talent in Automotive Engineering and Digital Enterprise.
Pic Credit:20:20 MSL

BLinC Invest MSME Lending Report 2022 says credit gap of INR 25 Tn in the MSME sector that can be potentially addressed through emerging business models

India, December 15, 2022 – BLinC Invest, Mumbai-based VC firm launches its first MSME lending research report. The firm has taken a business-model first approach instead of a financing vehicle or a product approach to gather insights into the MSME space. The primary research methodology included on-ground visits and telephonic interviews with MSMEs across 15+ states in the country and interviews with key industry leaders in the financial services sector. This was supplemented with various secondary research data. The study also deep dives into the various business models and identifies the 4 major constraints to accessing formal credit in India for each of the business models, i.e., expensive access to capital, Penetration and Acquisition, Underwriting and Collections

The Indian MSME sector comprising 63.4 million MSMEs, contributes 30% to India’s GDP. The MSME sector has a total credit demand of INR 69.3 trillion, growing at a CAGR of 11.5%. with less than 15% of the demand being catered by formal sources. The report identifies the key opportunities while proposing business models best suited to cater to this demand.

The 5 states that account for 50% of total MSMEs in India are Uttar Pradesh (highest number of MSMEs in India ~9Mn), West Bengal, Tamil Nadu, Maharashtra, and Karnataka.

While quarterly MSME disbursements have grown 2x over the last 2 years, this is primarily on account of increased credit penetration and not on account of additional risk taken by the financial institutions. This is indicated by the fact that approval rates for the medium risk tier segment have remained unchanged, hovering around 30%-35%, for private banks in the last one year and have decreased for PSUs and NBFC over the last 2 years.

The report highlights 9 business models such as payment gateways/QR code, POS financing, Neobanks, P2M Lending, anchor-based supply chain finance etc. which paved the way for the development of the MSME sector. The total funding garnered into this sector stands at ~$5.5 Bn for the period 2016-2021 with majority of the funding received by neobanks, NBFC with branch network, payment gateway/QR code business models.

As quoted by Amit Ratanpal, Founder & MD, BLinC Invest says, “Businesses need funding to grow. The MSME market is largely underserved in terms of financing and solving this huge credit gap is critical to growing the Indian economy as a whole. The market lacked a comprehensive MSME lending report, which not just highlighted the gap but also understood key pain points to propose business models that will solve the problem. We hope the report will encourage investment and innovative ideas that will provide this key sector the much-needed funds to grow their businesses.”

He also adds, “The report digs deep into recognizing MSMEs’ opportunities from the Indian & global perspective, the existing gaps of underserved credit, the urban/rural cities where the opportunities lie, and the successful models for providing credit. Our research findings state that a solid business model and stable funding can help the MSMEs address the backdrop and grow their business.”

The report highlights four white spaces – POS Financing, Anchor-led Supply Chain Finance, NBFC (with branch network), and Embedded Finance. It shares data on key points such as penetration and growth, VC/PE activity, maturity level and BLinC Invest insights.

Tech Mahindra Inks MoU with IQM Quantum Computers for Research in Quantum Computing

New Delhi – December  2022: Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, and IQM Quantum Computers, the European leader in quantum computers, have signed a Memorandum of Understanding (MoU) for research in quantum computing. The organizations will explore synergies in mutually beneficial areas of quantum computing, cryptography, and communication technologies.

As part of the partnership, the organizations will jointly develop new quantum computing offerings for various industries including healthcare, cyber security, and banking, among others. They will further co-develop and market quantum technology use cases in India and Finland.

Nikhil Malhotra, Global Head, Makers Lab, Tech Mahindra, said, “The fabric of computation is changing and Quantum Computing is the harbinger for that change. It promises to address the challenges that cannot be solved using current computation techniques and empower us to re-imagine customer experience & move towards a sustainable future at a time when energy requirements have become unsustainable. At Tech Mahindra, riding this wave of change, we have collaborated with IQM Computers with an aim to set new standards in the research and development of commercially viable use cases across industries. We are confident that this collaboration will help Tech Mahindra and IQM Computers expand their global footprints in Quantum Computing by leveraging synergies.”

Tech Mahindra has been working to accelerate the adoption and commercialization of quantum technology globally. In line with this, the organization is also setting up its Quantum Centre of Excellence – QNxt in Helsinki, Finland. With the partnership with IQM Computers,

both organizations will further strengthen their research and design capabilities and quantum computing offerings. The partnership will combine Tech Mahindra’s industry knowledge in quantum computing, including hybrid algorithms, quantum machine learning, and quantum simulation, along with IQM’s leading expertise in superconducting quantum hardware, quantum algorithm development capabilities, and its unique application-specific, Co-Design approach.

Dr. Juha Vartiainen, Chief Operating Officer and Co-founder of IQM Quantum Computers said, “This announcement highlights our commitment towards India and our commitment to accelerate the global ecosystem through collaboration. We are pleased to partner with Tech Mahindra to explore business synergies and develop industry use cases across a range of sectors thanks to their strong software and emerging technology capabilities. Along with the government, academia, and industry, the Indian quantum ecosystem is growing rapidly, and we are excited to see companies such as Tech Mahindra leading this growth.”

Finland and India have strong ties in science, technology, and innovation and both countries are working towards establishing the Indo-Finnish Virtual Network Center for quantum computing. The Indian government plans to invest INR 8,000 crores (US$ 1 billion) in the quantum industry over the next five years in various programs. Finland, on the other hand, has one of the world’s leading quantum ecosystems, with decades of research in quantum technologies, strong government support, a venture capital community, and a research network.

This partnership is in line with Tech Mahindra’s NXT.NOW™ framework, which aims to enhance the ‘Human Centric Experience’, and focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.

Pic Credit:Kommune Brand Communications

Tech Mahindra Inks MoU with IQM Quantum Computers for Research in Quantum Computing

New Delhi – December  2022: Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, and IQM Quantum Computers, the European leader in quantum computers, have signed a Memorandum of Understanding (MoU) for research in quantum computing. The organizations will explore synergies in mutually beneficial areas of quantum computing, cryptography, and communication technologies.

As part of the partnership, the organizations will jointly develop new quantum computing offerings for various industries including healthcare, cyber security, and banking, among others. They will further co-develop and market quantum technology use cases in India and Finland.

Nikhil Malhotra, Global Head, Makers Lab, Tech Mahindra, said, “The fabric of computation is changing and Quantum Computing is the harbinger for that change. It promises to address the challenges that cannot be solved using current computation techniques and empower us to re-imagine customer experience & move towards a sustainable future at a time when energy requirements have become unsustainable. At Tech Mahindra, riding this wave of change, we have collaborated with IQM Computers with an aim to set new standards in the research and development of commercially viable use cases across industries. We are confident that this collaboration will help Tech Mahindra and IQM Computers expand their global footprints in Quantum Computing by leveraging synergies.”

Tech Mahindra has been working to accelerate the adoption and commercialization of quantum technology globally. In line with this, the organization is also setting up its Quantum Centre of Excellence – QNxt in Helsinki, Finland. With the partnership with IQM Computers,

both organizations will further strengthen their research and design capabilities and quantum computing offerings. The partnership will combine Tech Mahindra’s industry knowledge in quantum computing, including hybrid algorithms, quantum machine learning, and quantum simulation, along with IQM’s leading expertise in superconducting quantum hardware, quantum algorithm development capabilities, and its unique application-specific, Co-Design approach.

Dr. Juha Vartiainen, Chief Operating Officer and Co-founder of IQM Quantum Computers said, “This announcement highlights our commitment towards India and our commitment to accelerate the global ecosystem through collaboration. We are pleased to partner with Tech Mahindra to explore business synergies and develop industry use cases across a range of sectors thanks to their strong software and emerging technology capabilities. Along with the government, academia, and industry, the Indian quantum ecosystem is growing rapidly, and we are excited to see companies such as Tech Mahindra leading this growth.”

Finland and India have strong ties in science, technology, and innovation and both countries are working towards establishing the Indo-Finnish Virtual Network Center for quantum computing. The Indian government plans to invest INR 8,000 crores (US$ 1 billion) in the quantum industry over the next five years in various programs. Finland, on the other hand, has one of the world’s leading quantum ecosystems, with decades of research in quantum technologies, strong government support, a venture capital community, and a research network.

This partnership is in line with Tech Mahindra’s NXT.NOW™ framework, which aims to enhance the ‘Human Centric Experience’, and focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.

Pic Credit:Kommune Brand Communications

OYO announces Super OYO; latest category of the most reliable OYOs across 70+ cities in India

New Delhi, December 15th, 2022: Global travel technology company, OYO, has launched a program to recognize hotels that provide the most consistent and high-quality customer experience. The category called ‘Super OYO’, constantly analyses each hotel’s performance on multiple parameters such as customer ratings and reviews, keeping maximum rooms operational consistently, smooth check-in experience, among others.

Consumers can now see hotels marked ‘Super OYO’ while booking through the OYO App. Currently, there are around 200+ Super OYOs available on the site and the company will encourage other hotels on its platform to work towards achieving this highly selective moniker and becoming a part of this exclusive category.

Title: Inserting image…In line with the company’s mission to double down on trusted and best-in-class customer experiences, Super OYO is one of the multiple programs OYO is working on to help customers find choices for the kind of stay they are looking for, provide relevant information to make an informed choice and ensure comfortable and hassle-free stays at highly competitive prices. Super OYO is now available to all app users in India and is set to be launched across key global markets in 2023. OYO customers can easily access the Super OYOs category from the home screen by clicking on the Super OYO banner that leads to a dedicated Super OYO store, select their destination city and browse all available hotels.

While appealing to guests, this new category also recognises hotel operators (patrons) who go above and beyond to provide exceptional customer experiences. Since only hotels that meet predefined parameters can be recognised as ‘Super OYO’, these properties are required to maintain an average rating of 4 and above, ensuring zero check-in issues, low cancellations and minimal negative feedback. Since the tag is a non-paid category achievable by maintaining excellent customer experiences, hotel owners can create a niche for their hotel in the market.

Talking about OYO’s commitment to enhancing customer experiences, Ritesh Agarwal – Founder and Group CEO, OYO said, “Over the last few months, as travel resurged, our customers gave us a lot of constructive feedback. One of the questions I always get is, when staying in a city where multiple OYOs are available, which is the ‘best OYO’. So today we are announcing ‘Super OYOs’. The best OYOs by experience, location, analysis of thousands of reviews and verified experiences. For our customers, you get the best of the best OYOs and for our owner patrons’ they get higher returns on their assets. Just download the OYO App and hit the Super OYO widget on the home screen.”
He added, “Over the next few months, we will continue to launch initiatives to make customer journeys smoother – right from more tailored products, better digital Title: Inserting image…experiences, and faster turnaround for all travellers.”

As per App Annie, the OYO App is the world’s third most downloaded platform globally in the travel category. So far, the app has been downloaded across geographies by more than 100 Mn+ users, with a majority based in India. Since the pandemic, a permanent shift in consumer behavior has rewired consumption patterns, leading to the adoption of a renewed value system – especially when it comes to travel decisions.

During this time, OYO has worked towards building a more nuanced, updated, and easy-to-use app that catered to the post-pandemic consumers’ interests. To make customer journeys smoother, OYO has launched several tags and highlights such as Trip Type, Long Stays, Check-in Ratings, Super OYO, among others. The new revitalized app also includes a brand-new user interface and improved features for smoother navigation, clear transparency with no hidden terms and conditions. The OYO app is now 50% faster, allowing users to load the home page within just 1.9 seconds. Check-in ratings offers consumers greater transparency so that they can make informed choices while booking hotels. Further, OYO’s loyalty program ‘Wizard Plus’ offers free room nights after every 5 stays.

The company is also embarking on an initiative to install a contemporary version of the ubiquitous OYO signboards on the fascia of select OYO hotels.

Source.one, has launched SARV.one to provide end to end solutions for the packaging industry

Mumbai,  December 2022: Source. one, a technology-driven full stack end-to-end petrochemical distribution company, has grown from 0 to 1622 Cr. (FY 22 Revenue) in a short span of 4 years, has launched SARV.one keeping their MSME-focused outlook and spirit, to provide end-to-end solutions for the packaging industry. The packaging vertical is focused to standardize the flexible plastic packaging industry and provide a link between manufacturers and consumer-packaged goods companies.

According to Arun Singhal, Founder, and CEO of Source. one, “Our primary goal is to expand the Horizontal & Vertical Value Chain beyond additional commodities and also diverse projects such as packaging. SARV plans on changing the way small businesses in India package their products, using our existing network of polymer processors combined with our use of technology. This will not only ensure safety and hygiene standards but also build a brand identity at efficient prices, delivering real value to the populous.”

SARV.one, the company’s newest packaging expansion, has already garnered traction as they utilize their technical and technological expertise to deliver the ideal packaging solutions for every packaging requirement. They are a ‘packaging solutions company that is driven by the goal to address packaging difficulties in every industry. They provide companies with all types of printing solutions such as Roto Gravure, Flexo, Offset, and Digital, and strive to assist organizations of all sizes in meeting their packaging requirements.

Metrics of Sarv.one –

1. 30x increase in the sales value in the last 6 months

2. 10x increase in productivity (sales/employee)

3. 5x increase in customer count

4. Approx 4x times growth in the number of orders in the last 6 months

Harshvardhan Dhandhania, Business Head of SARV.one has an intellectual approach towards the creation of this company and says, “In order to provide industry-specific solutions, we are constantly enhancing and developing our skills. We are MSME advocates, and we can meet any demand that arises along your packaging journey.”

Due to Source. one’s constant growth throughout the months since its inception, Sarv has undoubtedly been able to show once more how the management of the company is success driven. The company stands out for leveraging technology to unlock synergies that were previously only available to industry Goliaths and demystify them so that wealth can be shared among the lowest rungs of the industrial ecosystem.

What started as a result of sales discussion between entrepreneurial minds from different Industries is now unlocking the real potential and shaping the course of the entire ecosystem of petrochemicals. The idea was not to stop or get satisfied with the tremendous growth achieved in the petrochemicals division but to translate the same success at a faster growth rate utilizing the resources, knowledge, and technology of existing setup into other businesses like Bulk Chemicals, Specialty Chemicals and Packaging, the journey of which already started some 12 months back.
Pic Credit:dentsu.com

m.stock Onboarded Over 1 Lakh Paid Accounts Within 8 Months of Launch, One of the Fastest Among Online Retail Broking Platforms

Mumbai, 15 December 2022: Mirae Asset, a renowned international financial services group, today announced crossing 1 lakh paid retail accounts on m.Stock, its online retail stockbroking platform. Launched in April 2022, m.Stock offers access to multiple trading and investment products under one roof paired with a zero-brokerage and no-commission model.

m.Stock has grown their customer base by 60% in November 2022 over the previous month, and has 73% active customers on its platform. This is all despite the industry seeing a sustained decline in the active investor count since June 2022 due to uncertainty around the economic environment, lacklustre one-year returns, and diminishing retail euphoria weighing down market participation. Further, the total turnover on the platform, to date has surpassed ₹40,000 crore from over 2.9 crore trades. They are clocking over 5 lakh daily trades on average.

m.Stock, also provides Margin Trading Facility (eMargin) to its customers at highly competitive interest rates ranging from 7.99% to 9.49% p.a. So far, they have seen huge success with eMargin, accumulating a nettbook size (m.Stock funding) of over ₹100crore in just 92 days!

Commenting on the milestone, Arun Chaudhry, Director & Chief Business Officer, Mirae Asset Capital Markets (India) Pvt. Ltd said, “We at m.Stock, are absolutely thrilled to witness these stellar growth numbers in such a short period of time. From the very beginning, we have been laser-focused on creating products that add value to our customers’ lives. With the help of our parent group, Mirae Asset’s global expertise and guidance, we have managed to cross 1 lakh paid customers and it’s absolutely wonderful to share this with everyone.”

m.Stock’s unique and seamless trading platform paired with a ‘Zero Brokerage and no-commission’ model has made it a lucrative proposition for both seasoned traders as well as investors.