Bits’n’bytes: Know about startup, business news in Pune
Cantabil Retail India announced opening of its 11th retail store in Punawale taking its reach to 449 stores across India
THB raises ₹164 crore growth equity round
Enterprise healthcare SaaS company THB (Technology l Healthcare l Big Data Analytics) announced ₹164 crore funding in a growth equity round led by Filter Capital and Edelweiss Discovery Fund Series – I. Cornerstone Venture Partners Fund (CSVP) and Healthquad, among others, also participated in the round. THB will use the funds in expanding its operations globally and accelerating growth in existing countries across South Asia, Middle East, and South East Asia.
Akansh Khurana, MD & Group CEO, THB said, “THB’s 300+ software and data engineers, doctors, consultants, and analysts provide deep clinical insights and currently serve over 150 healthcare enterprises in more than 10 countries. Healthcare big data technology presents an enormous opportunity for growth in this decade. THB aims to provide its customers with a comprehensive suite of data use-cases, enabling them to fully leverage their healthcare datasets and achieve tangible growth.”
Cantabil Retail expands presence
Cantabil Retail India announced opening of its 11th retail store in Punawale taking its reach to 449 stores across India. Deepak Bansal, director, Cantabil Retail India Ltd. said, “Our brand has been well received and admired amongst our customers in the mid-premium segment, across all age groups.”
CredR to expand into Southeast Asia, Africa
Online marketplace for used two-wheelers CredR is expanding its operations in Southeast Asia and Africa with a ₹8.2 crore initial investment. The company plans to leverage its technology stack consisting of three applications: CredR Connect, CredR Refresh, and CredR.com to offer a unique value proposition to its customers in these regions.
Nikhil Jain, co-founder, CredR, said, “According to recent statistics, approximately 180,000 motorcycles were sold in Kenya in 2019, while over 4.6 million were sold in Indonesia, and over 3.1 million in Vietnam. Despite the challenges posed by the pandemic, the industry has shown signs of recovery, with a significant increase in sales reported in the third quarter of 2021. It is worth noting that the pre-owned two-wheeler market is 1.5-2 times larger than the new two-wheeler market, indicating an immense potential for players in this market. To support its growth in Southeast Asia and Africa, CredR will be partnering with local dealers and distributors.”
Startup CEOs participate in HR conclave
Ajeenkya DY Patil University-School of Management hosted “HR Conclave” on “Digital Transformation in HR” theme in which HR senior professionals and CEOs from diverse startups and established organisations ranging from information technology, finance, edtech, automobile, and manufacturing sectors participated. Vivek Gupta, EdMyst CEO said, “In the startup ecosystem, digital technologies have eased the entire recruitment process which has helped to attract the skilled talented workforce.”
Prof Hrridaysh Deshpande, vice-chancellor, Ajeenkya DY Patil University, said, “India is projected to have a workforce of around 300 million young people by 2030. This demographic shift will have a profound impact on the country’s economic growth and upskilling processes. Hence, it becomes imperative that Higher Education Institutions (HEIs) must strive to adopt a holistic approach to address human resources industry challenges like skill-gaps, talent shortages and the changing needs of students and faculty.”
Tata Technologies, TiHAN-IIT Hyderabad collaborate on SDV
Tata Technologies signed a Memorandum of Understanding (MoU) with TiHAN IIT Hyderabad to collaborate in the areas of software defined vehicles (SDV) and advanced driver assistance systems (ADAS). The collaboration will focus on development of platforms and proofs of concept (POC) that optimise product development timelines; and enabling upskilling and hands-on training for Tata Technologies engineers at TiHAN in new technology areas.
Warren Harris, MD, CEO of Tata Technologies, said, “Through this collaboration we aim to collaborate and support innovations in the area of SDVs and associated technologies that help automotive manufacturers develop and manufacture great products.”
EFC India enters Ahmedabad
Pune headquartered EFC (I) Limited (Entrepreneurial Facilitation Centre) opened its first co-working space of 50,000+ sq. ft. “Sprint” at Nehru Nagar in Ahmedabad. Umeash Sahhaaii, founder EFC (I) Limited, said, “Given Gujarat’s entrepreneurial dominance and high per capita consumption, we are excited to open our flagship co-working space in Ahmedabad with high-quality amenities, global safety, security, governance, and compliance standards and foresee a high growth potential in the state in the future.”
Founded in 2014 by Sahhaaii, EFC (I) Ltd has 35+ centres across states like Maharashtra, Hyderabad, Tamil Nadu, Karnataka, Gujarat, Uttar Pradesh, and West Bengal.
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