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Startup News
Economic Times
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Image Credit: Economic Times
Instant food brand Yu raises Rs 55 crore from Ashish Kacholia, Asian Paints Promoter Group
- Instant food brand Yu has raised Rs 55 crore in a funding round led by Ashish Kacholia and Asian Paints Promoter Group.
- The funding will be used to enhance distribution network, strengthen food portfolio, and expand beverage range.
- Founded in 2021, Yu offers instant cup noodles, pastas, ready-to-cook noodles, pastas, and natural beverages.
- The startup has a presence in over 7,500 stores in India and has entered the South Africa market.
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Inc42
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Image Credit: Inc42
Jio Financial Services’ Q2 Profit Rises 3% YoY To INR 689 Cr
- Jio Financial Services (JFS) reported a consolidated net profit of INR 689.07 Cr in Q2 FY25, a 3.13% increase YoY.
- On a QoQ basis, net profit surged by 120.27% from Q1 FY25.
- Operating revenue rose over 14% to INR 693.50 Cr in Q2 FY25.
- Total expenses more than doubled to INR 146.07 Cr in Q2 FY25.
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SiliconCanals
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Zug-based terralayr secures €77M for its ‘energy flexibility as a service’ platform: Know more
- Zug-based terralayr secures €77M (€62M in equity and €15M in debt) funding for its energy storage platform.
- The company aims to accelerate the expansion of its battery storage systems.
- Terralayr offers flexibility as a service through its proprietary software platform for grid-scale battery storage.
- The company's marketplace for energy storage aims to support renewable energy adoption and the transition to net zero.
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VIE Stories
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Image Credit: VIE Stories
Top kitchen Appliances Brands in India [2024 Diwali Kitchen Shopping]
- The fast-paced lifestyle of today has made appliances more popular than ever, and in the kitchen, they align functionality with style.
- Samsung, LG Electronics, Haier, Bajaj Electricals, Philips, Panasonic, Havells, Prestige, Whirlpool are some of the best brands of kitchen appliances available in India.
- Samsung offers refrigerators, washing machines, dishwashers, microwaves, cookers, mixers, grinders, toasters, sandwich makers, juicers, air fryers, food processors, coffee makers, and kettles.
- LG offers a range of high-quality, innovative, and energy-efficient kitchen appliances like refrigerators, washing machines, dishwashers, microwaves, cookers, mixers and grinders, toasters, sandwich makers, juicers, air fryers, food processors, coffee makers, and kettles.
- Haier is a Chinese multinational that manufactures home appliances, providing dishwashers, microwaves, cookers, juicers, and toasters, among others.
- Bajaj Electricals Ltd. designs small kitchen gadgets like mixer grinders, hand blenders, choppers, coffee makers, and electric kettles at affordable prices.
- Philips is a multinational company that manufactures a wide range of electrical products, including refrigerators, washing machines, microwaves, grinders, food processors, air fryers, bread makers, coffee makers, and kettles.
- Panasonic offers a wide range of kitchen equipment, including washing machines, dishwashers, refrigerators, microwaves, grinders, air fryers, food processors, coffee makers, cookers, mixers, bread makers, and juicers.
- Havells provide a range of kitchen appliances for cooking, food preparation, and brewing, including sandwich makers, blenders, mixer grinders, induction cooktops, air fryers, and oven toaster grills.
- Prestige provides cookware, gas stoves, and small kitchen appliances such as pressure cookers, electric kettles, toasters, sandwich makers, juicers, food processors, coffee makers, and microwave ovens.
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AllTopStartups
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Understanding Employee Benefits in Hospitality: What Happens When Long-Term Disability is Denied?
- The hospitality industry offers plenty of opportunities, including numerous employment prospects, but due to the industry's physical demands and long hours, employees need safeguarding with employees' benefits, including long-term disability (LTD) coverage.
- LTD coverage is crucial for financial stability when employees cannot work due to health issues or injuries, as it can help sustain them financially.
- Still, many denied LTD claims lead to financial and emotional stress and leave employees vulnerable, confused, and frustrated.
- Common reasons for denial of LTD claims include insufficient medical evidence demonstrating an inability to work, the inability to meet the definition of disability outlined in the policy, missed deadlines, and a pre-existing medical condition.
- Employees can take the following steps to appeal their LTD denial: understand the exact reasons for their claim denial and gather the necessary evidence, including applicable medical records, colleagues' and family members' statements, and hire an attorney who specializes in LTD claims when necessary.
- If employers don’t provide the resources necessary to ensure employees understand their benefits and the appeals process, denied LTD claims can lead to lowered morale and increased turnover rates.
- Having to deal with a denied LTD claim can cause time and energy loss to the employee and financial and emotional strain; however, it’s not the end of the road if an appeal is filed in time with sufficient evidence.
- Receiving long-term disability benefits can mitigate the financial burden to employees and ensure they can focus on their recovery without added financial worries.
- Clear communication and proper resources from employers can also help prevent unfairly denied claims and provide much-needed support for employees.
- In summary, employees need to understand their rights, know the common reasons for LTD claim denials, and the appeal process, while employers should provide proper resources and support to help employees claim the LTD benefits they deserve.
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Inc42
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Image Credit: Inc42
Reverse Flipping: Now, Mensa Brands Sets Sight On India Return
- Tiger Global-backed Mensa Brands is shifting its domicile from Singapore to India.
- The company, founded by former Myntra CEO Ananth Narayanan, owns and operates several consumer brands.
- Mensa Brands has raised over $300 Mn in total funding and counts Accel Partners, Prosus, and Tiger Global among its investors.
- In FY23, Mensa Brands reported a net loss of INR 227 Cr and operating revenue of INR 499.6 Cr.
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Yourstory
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Image Credit: Yourstory
The Cobra Effect: Its pitfalls and how to prevent them
- The Cobra Effect refers to the unintended consequences that arise from well-intentioned plans.
- Three common traps leading to the Cobra Effect are loopholes in incentives, ignoring context, and short-term focus on profits.
- To avoid the Cobra Effect, businesses should set holistic goals, test decisions first, incorporate feedback loops, boost cross-department collaboration, and keep stakeholders informed.
- A thoughtful and comprehensive approach to strategy and goal-setting helps minimize risks and foster a healthier business environment.
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Inc42
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Image Credit: Inc42
India Mulls Curbs On Laptop Import To Fuel Local Manufacturing
- India plans to impose restrictions on laptop, tablet, and PC import to boost local manufacturing.
- The move aims to encourage global giants like Apple, Dell, and Lenovo to invest in domestic manufacturing.
- Companies will need to obtain prior approval for imports, replacing the current free import system.
- Imports of IT hardware products have declined since the implementation of restrictions.
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ISN
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Image Credit: ISN
Why did the RBI ban Sachin Bansal's Navi from sanctioning new loans?
- The Reserve Bank of India (RBI) has banned Navi Finserv, led by Sachin Bansal, from loan sanctioning and disbursement processes, along with three other NBFCs.
- RBI took this action after discovering material supervisory concerns regarding the companies' loan pricing practices and non-compliance with regulatory guidelines.
- The banned NBFCs were found to have excessive interest spreads, non-compliance with microfinance loan pricing regulations, and failure to adhere to the Fair Practices Code.
- The restrictions will remain in place until the companies demonstrate compliance with RBI regulations.
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Medium
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Philosophy
- To get the most out of the book, it is recommended to practice the Master Mind principle described in the book.
- Form a study club with friendly and harmonious people, and have regular meetings, preferably once a week.
- Read one chapter of the book at each meeting and freely discuss its contents among the members.
- Each member should make notes and share their own ideas inspired by the discussion, and carefully analyze each chapter prior to the club meeting.
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Silicon
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Worldcoin Rebrands To World Network, Ramps Up Iris Scanning
- Worldcoin, a cryptocurrency project co-founded by OpenAI CEO Sam Altman, has rebranded itself as World Network.
- The company remains committed to its controversial iris-scanning project, despite privacy concerns.
- The World ID, backed by retinal scans, is designed to prove a user's human identity for crypto exchange.
- World Network has announced updates to its iris-scanning technology and introduced new features for World ID credentials.
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Inc42
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Image Credit: Inc42
How AloFrut Is Bringing Ayurveda-Inspired Beverages To The Modern Indian Consumer
- Homegrown beverage brand AloFrut offers ready-to-use ayurvedic remedies at scale, blending traditional knowledge with modern convenience. Its flagship drink is a proprietary fusion of aloe vera juice, pulp, and fruit mixes produced at its manufacturing units in Kathua (Jammu) and Ambala.
- AloFrut invested heavily in marketing to build its brand identity from scratch and ran several campaigns online and in stores to attract health-conscious consumers. It currently offers 48 SKUs under four categories - juices, mocktails, energy drinks, and green teas.
- In 2023, Kolkata-based FMCG giant Emami acquired a 26% stake in AloFrut's parent company Axiom Ayurveda to enter the packaged juice segment, helping boost AloFrut's pan-India growth drive benefitting from Emami's robust distribution channels.
- Since 2022, Mumbai-based multi-stage VC firm Venture Catalysts ++ (VCats++) has backed the AloFrut brand through multiple funding rounds. Its guidance was crucial for overcoming challenges and seizing new opportunities, says Rishabh Gupta, the brand's founder.
- The rising focus on R&D and the growing use of technology for procurement, production, and quality control have increased the value of ayurvedic food and beverages among modern consumers. In fact, the Indian ayurvedic products market is estimated to reach $3,200 bn by 2032 from $748.5 bn in 2023.
- AloFrut uses its powerful distribution network to tap into the unexplored Bharat market where most Tier II and III consumers can purchase online. Its growth strategy is to experiment with new flavours while gathering customer feedback for product improvement, and repositioning aloe vera as a taste enhancer.
- AloFrut and its peers, including Real, B Natural, Tropicana, Paperboat, and more, are well-positioned to capitalize on market opportunities due to their strong omnichannel initiatives and connections with modern consumers.
- Despite AloFrut's strong offline and online retail presence, it has yet to enter quick commerce, an essential distribution channel, especially for FMCG and F&B brands, contributing to instant gratification for customers.
- By 2029, more than 60 Mn Indian shoppers can be on these platforms, with projected market volume worth $9,951 Mn. Therefore, AloFrut may have to explore this avenue soon.
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Eu-Startups
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London-based Cult Mia expands seed funding to over €4.6 million to accelerate global expansion
- UK-based luxury retail platform Cult Mia raises over €4.6 million in seed funding.
- Funding will support global expansion and strengthen its position in luxury fashion.
- Cult Mia integrates brand curation and data-driven insights for a unique shopping experience.
- Investors include H&M Group Ventures, Morgan Stanley, Fuel Ventures, and David Wertheimer.
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VIE Stories
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Image Credit: VIE Stories
[Funding News] Yu Foods Secures $6.5 Million Led By Ashish Kacholia, Asian Paints Promoter Group
- Yu Foods, an instant packaged food startup based in Delhi NCR, has raised $6.5 million in its Series B fundraising round.
- The funding round was led by investors Ashish Kacholia and Asian Paints Promoter Group.
- Some of the company's early investors exited the round, providing them a 4X exit.
- Yu Foods offers preservative-free, additive-free, and artificial flavoring-free Instant Meal Bowls.
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Startupreporter
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Image Credit: Startupreporter
Balancing Business and Beauty Namrata Tiwari’s Triumph as Maven Ms. Plus Size India International 2024
- Namrata Tiwari’s triumph as Maven Ms. Plus Size India International 2024 is a powerful shift towards inclusivity and self-love.
- Namrata champions the idea that beauty and confidence come in all forms and that every woman deserves to feel empowered.
- Namrata’s journey as a dynamic entrepreneur and architect from Greater Noida symbolizes ambition and purpose.
- Her recent win highlights not only her success but also her dedication to breaking stereotypes in both business and fashion.
- The Maven Ms. Plus Size India International redefines and challenges society’s conventional beauty standards.
- Through this empowering platform, women are celebrated not just for their appearances, but for their confidence, strength, and authenticity.
- Namrata’s dual roles as an entrepreneur and a model exemplify her versatility and her desire to break boundaries.
- Namrata’s journey is an inspiration to anyone looking to pursue their dreams with passion and purpose.
- Her story is one of determination, resilience, and the power of embracing one’s individuality.
- Namrata’s future is filled with ambitious plans and goals, she aims to expand her presence in the modeling world and grow her business even further.
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