Three Startups Incubated At riidl Received SEED Funding Of INR 75 Lakhs Through BIRAC

Three startups Beaniesnak Foods Pvt Ltd, Inphlox Water Systems Pvt Ltd, Savemom Pvt Ltd incubated at riidl have received a total of INR 75 Lakhs through the Biotechnology Industry Research Assistance Council (BIRAC) Sustainable Entrepreneurship and Enterprise Development Fund (SEED) funding, Department of Biotechnology, Government of India. BIRAC SEED Funding enables these startups to graduate to a level where they will be able to raise investments from Venture capitalists or seek loans from banks. Thus, the proposed seed support is positioned to bridge promoters investment and Venture/Angel investment. 

Indra Water (Registered as Inphlox Water Systems Pvt Ltd) makes decentralized and modular wastewater treatment & monitoring systems based on their patented physio-electrical process technology. Their work has been recognized globally and they've received awards from Imagine H2O, Columbia University, Millennium Alliance to mention a few. They have ongoing engagements with more than 25 customers and saved 200M+ Liters of water, positively impacting 5,00,000+ people. 

Savemom Pvt Ltd is a med-tech project aimed to reduce 'maternal and infant mortality and morbidity with timely and appropriate care during the First 1000 days with the help of our AI-enabled IoT Kit and Telemedicine software. Our traction from the last 18 months includes 22,856 home-based antenatal care, identified 382 high-risk mothers, 1428 mothers have delivered their babies successfully and we onboard 300 mothers every month. 

Beaniesnak Foods Pvt Ltd manufactures nachos from beans which will aid your health as well as taste benefits with exotic flavours. The key aim is to provide 5 benefits incorporated in one single snack (Healthy, tasty, filling, inexpensive, high-protein). They aim to replace the snacking habits of the customers who rely on processed foods like potato chips, and many fried snacks available in the market. This is the only brand in India that is currently making bean nachos and is a healthy alternative to corn nachos. It's gluten-free, vegan & consists of proteins and fibres. 

Gaurang Shetty, Chief Innovation Catalyst, riidl said, “Our startups are on track to empower millions by enabling access to affordable healthcare, sustainable food, Cleantech solutions for our environment and other impact-driven solutions. Their products have won national and international accolades and are getting good traction. We hope to support more early-stage entrepreneurs through our programs.”

riidl is a technology business incubator that supports the creation and incubation of early-stage companies from ideation to commercialization by providing them with resources, labs, government grants, investor connections, funding and mentorship. 

Bioriidl has set up India’s First and only Do-It-Yourself Biolab, and a Bio-Incubator at riidl, an incubation cell for Biotechnology startups, working on projects in various stages of incubation from development stage to testing. 

About Somaiya Vidyavihar University: 

Padma Bhushan Karamshi Jethabhai Somaiya founded Somaiya Vidyavihar, an education trust in 1959, to provide quality holistic education. It was founded on the belief that education is an important pillar of nation-building with the power to change lives, and education must innovate to encourage the holistic development of youth. It is known as much for its Science, Technology, Engineering, Management, Social Sciences, and Commerce programs, as for its programs for academic studies in various faiths and cultures of India. 

With over six decades of rich experience in building and managing educational institutes of great repute, Somaiya Vidyavihar has become a Private University in 2019, bringing all of its self-financing higher education institutions and the self-financing programs at the undergraduate and postgraduate level under one umbrella. The University was enacted by an Act of the Maharashtra State Legislature and approved by the University Grants Commission, Government of India.

Viacom18 Enters Into A Strategic Partnership With LaLiga; MTV India Will Be Home Of Football League

* The 3-year exclusive partnership will give the network linear and digital rights across the Indian subcontinent.

* Viacom18 will leverage its TV, digital and social assets to make LaLiga a household name in the region.

India: Viacom18 Media, India’s youngest and leading media conglomerate, continues to raise the bar by challenging itself to ensure that Indian viewers are provided with entertainment that is differentiated and fresh. Home to some of India’s more exciting and entertaining properties, Viacom18’s flagship youth brand MTV has now teamed up with LaLiga to bring the Spanish Football League exclusively to the Indian sub-continent for the next 3 years. Enabled and supported by Rise Worldwide, LaLiga will air exclusively on MTV in India, along with select national and regional network channels and live streamed on Voot & Jio platforms.

Consumption and following of football in India have consistently increased over the past decade, especially amongst the youth. Currently in its 91st season, the iconic league is one of the most followed football leagues across the world and is home to Europe’s finest talent and football clubs including Atlético Madrid, Real Madrid, FC Barcelona, amongst others. MTV is the premier destination for youth entertainment and content in India and boasts of a strong affinity with its young-at-heart viewers. Given the following that Football currently enjoys in India, Viacom18 and MTV are committed to building a wholesome entertainment-driven ecosystem centred around LaLiga, in a bid to further augment the fandom of the game.

Speaking about the association Oscar Mayo, Executive Director, LaLiga said, "We are excited to partner with Viacom18 (MTV India) and further bolster the LaLiga fandom to an ever-growing football fan base in India. Having set one of the highest standards of football globally and India gaining tremendous momentum, we are confident that we will reach and engage with the youthful audience that MTV as a destination appeals to.”

Speaking about LaLiga on MTV, Anshul Ailawadi, Business Head – Youth, Music and English Entertainment said, “We at MTV have always known that football enjoys a groundswell of support amongst young-at-heart Indians. The LaLiga in particular, is a cultural phenomenon all over the World. When the folks from RISE Worldwide introduced us to LaLiga team, we realized that this was a partnership waiting to happen – the vision was common, the vibes were good, and we quickly put pen to paper.”

LaLiga will commence on 13th August 2021 and will see Viacom18 put the network’s might behind building reach and resonance for the league amongst Indian viewers. Viacom18 will connect with the football fans through a massive marketing and communications campaign, further building the fandom and outreach for LaLiga in India. MTV’s extensive social media and digital clout will ensure that LaLiga engages fans through a multi-platform approach, potentially making football a part of dinner-table conversations across Indian homes and further widen MTV and Viacom18’s offering to its viewers.

IIFL Home Finance Unsecured Subordinated Redeemable Non-Convertible Debentures (Unsecured NCDs) Tranche I Issue Open

 ·         Unsecured NCDs of a Face Value (“Face Value”) of Rs. 1,000 each. Minimum Application Size: Rs 10,000 (10 Unsecured NCDs across all series)

·         The Tranche I Issue includes a Base Issue Size for an amount of Rs. 100 crores (“Base Issue Size”) with an option to retain oversubscription up to Rs. 900 crore aggregating up to Rs. 1,000 crores (“Tranche I Issue”)

·         Total Shelf Size/Shelf Limit: Rs 5000 cr

·         Rated as CRISIL AA/Stable by Crisil Ratings Limited and BWR AA+/Negative (Assigned) by Brickwork Ratings India Private Limited

·         Effective annualized yield up to 10.03% p.a. on redemption#

·         The Tranche I Issue opens on July 6, 2021 and closes on July 28, 2021*

·         The NCDs are proposed to be listed on BSE and NSE (collectively, “Stock Exchanges”).

# For further details please refer Shelf Prospectus dated June 29, 2021 and Tranche Prospectus dated June 29, 2021

*The Tranche I issue may close on such earlier date or extended date as may be decided by the Board of Directors of our company or the Finance Committee, thereof, subject to relevant approvals. In the event of an early closure or extension of the Tranche I issue, our Company shall ensure that Notice of the same is provided to the prospective investor through an advertisement in a daily national newspaper with wide circulation on or before such earlier on initial date of Tranche I issue closure.

Retail focused and technology driven Housing Finance Company, IIFL Home Finance Ltd (“IIFL HFL”) has announced the opening of its public issue of Unsecured Subordinated Redeemable non-convertible debentures (“Unsecured NCDs”) of the face value of Rs. 1,000 each.

The Tranche I Issue includes a Base Issue Size for an amount of Rs. 100 crores (“Base Issue Size”) with a green shoe of up to Rs. 900 crore aggregating up to Rs. 1,000 crores (“Tranche I Issue”). The NCD issue offers various options for subscription with coupon rates ranging from 9.60% to 10.00% per annum. The Tranche I Issue opens on July 6, 2021 and closes on July 28, 2021, with an option of early closure or extension.

The Unsecured NCDs bear a fixed rate of interest under three different series and have been rated “CRISIL AA/Stable” and “BWR AA+/ Negative (Assigned)” indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.

Net proceeds of the Issue will be utilized for for the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of our Company and balance will be utilised for General Corporate Purposes.

As on March 31, 2021 its CRAR – Tier I capital, in accordance with the Reformatted Financial Statements was at 19.61%.

The Lead Managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited*, ICICI Securities Limited, Trust Investment Advisors Private Limited and Equirus Capital Private Limited.

Tata Motors Releases 7th Annual CSR Report For FY 2021

* Over 7.5 lakh people benefitted from community programmes during the year

Tata Motors, India’s leading automobile company, today published its 7th Annual Corporate Social Responsibility (CSR) Report describing the intensive and holistic efforts undertaken during FY20-21 towards becoming a more responsible corporate citizen by driving inclusive growth with social equity in communities; strengthening sustainable development; and actively participating in the nation building process.

In an extraordinary year marked by the pandemic causing suffering of unprecedented proportions to individuals, institutions and communities at large, Tata Motors expanded its CSR footprint to cover all 28 states and 8 union territories across the country.

The Company supported Covid-19 relief efforts by providing assistance to over 1.4 lakh people including migrants, daily wage earners, those who lost livelihood, and those who were left stranded or forced to seek shelter in transit camps. Food, masks and sanitizers along with information kits on precautions to be taken for safety, health and hygiene, were arranged for thousands of truck drivers, the unsung frontline heroes who played a stellar role in ensuring that the wheels of nation kept running with seamless transportation of supplies, even as the nation remained suspended in lockdown. Additionally, the company donated Rs. ~7 Cr towards Covid-19 relief, 50% of which was contributed by the company’s employees.

Tata Motors also remained steadfast in its efforts to address some of India’s most pressing developmental challenges through its flagship welfare programmes in the areas of Health (Aarogya), Education (Vidyadhanam), Employability (Kaushalya), and Environment (Vasundhara). Its progress on the pledge to make the impact of CSR self-sustaining gained momentum with beneficiary communities increasingly owning the programmes. Cumulatively, the company’s efforts positively impacted over 7.5 lakh lives during the year, with over 45% beneficiaries coming from SC and ST communities.

Speaking on the occasion, Mr. S J R Kutty, Chief Sustainability Officer, Tata Motors, said, “CSR is deeply engrained in our DNA. The scope and depth of our engagement with communities have become richer, more holistic and self-sustaining with time. While the pandemic demanded an immediate response to support communities, we embraced new models and formats to gain scale and momentum with higher levels of empowerment and self-sustenance across all projects in our key thrust areas – Health, Education, Employability and Environment. I am grateful to the Board and leadership at Tata Motors for their encouraging guidance, the CSR teams and colleagues nationwide for their dedication, our developmental sector partners and communities for their faith, resolve and resilience that ensured this accelerated progress in such trying times.”

Key Highlights of Tata Motors CSR report for FY21 include:

Extending COVID relief -

Provided pan-India assistance to close to - 1.4 lakh individuals, including migrants, daily-wage earners, those who lost livelihoods or were left stranded in transit camps, as well as thousands of truck drivers who selflessly kept the nation running with uninterrupted supplies

Served over 3.4 lakh cooked meals to 30,000 people, provided over 100 tonnes of dry ration to 20,000 families, and 30,000 units of safe drinking water to 24 police chowkis

More than 1 lakh certified masks, and 1,000 litres of hand sanitiser were disseminated amongst the community

Helped improve health infrastructure by donating ventilators, 100 beds and 40 oxygen cylinders to government hospitals and specially set-up COVID-19 treatment centres.

Securing health and wellness through ‘Aarogya’ -

Over 3.8 lakh people have benefited from Tata Motors' health programs

60% of undernourished children treated under their programme are now healthy

All of the programs implemented under this program have collectively led to a positive shift in community attitudes and knowledge about health.

Fostering excellence in education through ‘Vidyadhanam’ -

Almost 1.2 lakh students gained access to quality education through Tata Motors' educational programs

Partnership with Jawahar Nehru Vidyalaya (JNVs) to introduce online coaching for JEE and NEET aspirants also achieved impressive results. During the year, 81% of students qualified for JEE Mains, 59% qualified for JEE Advanced and 80% of those successfully enrolled in leading institutions of engineering and medicine including IIT and NIIT.

Enhancing employability through ‘Kaushalya’ –

Close to 18,000 youth and farmers were trained and 69% of them are now gainfully employed with each adding a Rs. 1 lakh increase to their respective household income annually.

Cultivating sustainability with ‘Vasundhara’ –

Planted 1.1 lakh saplings of indigenous varieties resulting in an 87% survival rate and transforming some areas into micro-habitats for varied species of flora and fauna.

Sensitised close to 1 lakh children about the benefits of a clean and green environment and steps they could take for its preservation

Solving water-related issues through ‘Amrutdhara’

Over 8,000 people living in water-stressed areas of the country have benefited from this programme. Each family was given 30 litres of potable water/capita/day on a sustained basis. This programme has significantly reduced the drudgery of women in families who previously had to travel long distances to procure water.

The initiative has also significantly improved water and sanitation practices in communities, reducing their contraction of seasonal diseases such as scabies and dysentery.

Promoting rural development -

Collaborated with Sahabhag, the CSR cell of the Government of Maharashtra, to improve the quality of life of 9,000 tribal communities of Pathardi and Chauk gram panchayat of Palghar. Successfully carried out a similar project in Devedthal, a village in Ahmedabad, Gujarat.

70% of the resources assigned to the development of these villages were committed by the government.

Enhancing CSR through ‘Volunteering’ -

Over 37% of the employees and their families participated and invested more than 38,400 volunteering hours for social causes, across projects.

Safeguard Your Home With UV-C Disinfection Lighting Service From Signify

 ·      Company extends its UV-C disinfection services to homes

·       UV-C has been used for more than 35 years as a fast and effective disinfectant for air, water and surfaces and is also proven to inactivate SARS-CoV-2

·       Service available in Delhi NCR, Mumbai, Bengaluru and Chennai

Signify (Euronext: LIGHT), the world leader in lighting, today announced the launch of its UV-C disinfection services for homes in India. UV-C lighting is a chemical-free, residue-free and absorption-free method that can be used to disinfect air, water and surfaces and all bacteria and viruses tested to date respond to UV-C radiation[i] . The service is currently available for consumers in Delhi NCR, Mumbai, Bengaluru and Chennai and can be booked by calling the company’s toll-free number 000-800-050-7777.

Unlike other conventional disinfection methods, UV-C disinfection does not leave any harmful chemical residues and hence can be safely used around electronics and indoor plants. It is also environment friendly, as it does not use any chemical substances.

UV-C is a well-established method of disinfection, as it breaks down the DNA or RNA of microorganisms including viruses and bacteria, rendering them harmless. The effectiveness of Signify’s UV-C light sources to inactivating SARS-CoV-2, the virus that causes COVID-19, has been validated by Boston University[ii].

Commenting on the launch, Mr. Sumit Joshi, CEO and Managing Director, Signify – South Asia, said “After receiving great feedback about our UV-C disinfection service from our professional users, we have now launched this service for homes in India, considering the relevance and increased demand of this method in the current pandemic. The service offers a tried and tested chemical-free and residue-free alternative to disinfect your home after a COVID infection in the house.”

The company offers customized package for homes, depending on the size of the house (BHK) and uses a scientific methodology to determine the unique dosage needed to disinfect all corners of the house. The disinfection process is carried out by a team of trained and certified service professionals equipped with UV-C compliant PPE kits, who then use specially designed UV-C lighting products to disinfect the premises. This service can be used to disinfect all areas of the house such as the dining, kitchen and washroom areas including all furniture and household items such as refrigerators, chairs, sofa’s, TV’s, printers etc.

The company launched its UV-C disinfection services for professional customers like offices, hotels and retail shops earlier this year and has now extended the same to homes.

Goldmedal Electricals Collaborates With This Year’s Release — Farhan Akhtar Starrer TOOFAAN

* Toofaan is presented by Amazon Prime Video in association with Excel Entertainment and ROMP Pictures. Toofaan is produced by Ritesh Sidhwani, Rakeysh Omprakash Mehra and Farhan Akhtar

* The film stars Farhan Akhtar, alongside Mrunal Thakur, Paresh Rawal, Supriya Pathak Shah and Hussain Dalal in pivotal roles and is directed by Rakeysh Omprakash Mehra

* Prime members in India and across 240 countries and territories can stream Toofaan exclusively on Amazon Prime Video starting July 16, 2021

Goldmedal Electricals, a leading home-grown fast moving electrical goods (FMEG) company has entered into a brand association with the upcoming inspirational sports drama, ‘Toofaan’. Presented by Amazon Prime Video in association with Excel Entertainment and ROMP Pictures, Toofaan is an inspiring sports drama produced by Ritesh Sidhwani, Rakeysh Omprakash Mehra and Farhan Akhtar. The film’s high-octane trailer takes us through the journey of a local goon, Ajju Bhai becoming a professional boxer, Aziz Ali. Toofaan is a tale of hope, faith and inner strength fuelled by passion and perseverance. The film will premiere on Amazon Prime Video on 16th July across 240 countries and territories.

Goldmedal's rationale behind associating with Toofaan is in line with its passion of making innovative, world-class products that create amazing lifestyles. The main protagonist in the movie perseveres against all odds to follow his passion and thus achieve his goals – it’s the story of an amazing turnaround against insurmountable challenges.

Goldmedal is a brand that is passionate about the quality of products it manufactures. Whether it is modular switches or home automation products, LEDS, fans, or wires and cables, Goldmedal products are designed to make the life of its consumers significantly better through these high-quality products. The story of Toofaan encapsulates this inspiring vision to be passionate about one’s belief and to make the amazing happen.

Commenting on the partnership, Mr. Kishan Jain, Director, Goldmedal Electricals said, “We are extremely excited to celebrate our association with one of the most awaited movies of the year, ‘Toofaan’. It gives us tremendous pleasure to be part of a movie directed by Rakeysh Omprakash Mehra, who has been an amazing storyteller over the years, along with Farhan Akhtar, who has been part of so many inspiring films and is tremendously popular among people from all walks of life.  We at Goldmedal hope to associate with similar films that combine entertainment with the values that we believe in.”

Vishal Ramchandani, Head of Business and Marketing at Excel Entertainment shared his thoughts on the association, “Toofaan is a story that will provoke and inspire everyone to make the right choice and fight against all odds. We are thrilled to be associating with a leading brand like Goldmedal on this one!”

Goldmedal Electricals is hopeful that such associations with leading Bollywood movies will help the brand enhance its brand visibility among its pan India consumer base and also act as a catalyst to continue exploring more such associations in the future.

About Goldmedal Electricals

Goldmedal Electricals is a home grown electrical company which was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. The company is known in the industry for manufacturing high quality wiring devices and introducing a host of innovations in the industry. The company has manufacturing units in Vasai outside Mumbai, Bhiwadi in Rajasthan, and Vijayawada in Andhra Pradesh. It is one of the few companies in the industry to have a completely in-house, state-of-the-art tool room and testing facility. Today, the company manufactures a vast range of electrical products including various types of Switches, Home automation systems, Fans, Security Systems, Entertainment devices, Doorbells, Wires, Cables and more for residential buildings as well as commercial establishments.

About Toofaan Movie

Synopsis:

Under forced circumstances, an orphan boy born from the streets of Dongri, grows up to be a local goon. His life changes when he meets a bright and a compassionate young woman named Ananya who guides him to take the right path. With love and guidance, he finds his calling in sports and takes up the journey into becoming a world class Boxer. This is an inspiring story. Even the poor and marginalized, beaten by life circumstances, can become the heroes of the nation by giving up the other part of life and adopting the right path. Toofaan is set in Bombay. The city of Bombay is like the third character of the film. Bombay is Megapolis and one of the greater cities in India. It is a true cosmopolitan city and a melting pot for various cultures and religions. Mumbai runs on the spirit of Mumbaikars. This “spirit” is indeed Mumbai’s proudest possession which we also see in our film through our characters.

ABOUT AMAZON PRIME VIDEO

Prime Video is a premium streaming service that offers Prime members a collection of award winning Amazon Original series, thousands of movies and TV shows—all with the ease of finding what they love to watch in one place.  Find out more at PrimeVideo.com. 

●        Included with Prime Video: Toofaan joins thousands of TV shows and movies from Hollywood and Bollywood, including Indian produced Amazon Original series such as Four More Shots Please!, The Family Man, Mirzapur, Inside Edge and Made In Heaven, and award-winning and critically acclaimed global Amazon Original series including Tom Clancy's Jack Ryan, The Boys, Hunters, Fleabag and The Marvelous Mrs. Maisel available for unlimited streaming as part of a Prime membership. Prime Video includes titles available in Hindi, Marathi, Gujarati, Tamil, Telugu, Kannada, Malayalam, Punjabi and Bengali.

●        Instant Access: Members can watch anywhere, anytime on the Prime Video app for smart TVs, mobile devices, Fire TV, Fire TV stick, Fire tablets, Apple TV and multiple gaming devices. Prime Video is also available to consumers through Airtel and Vodafone pre-paid and post-paid subscription plans. In the Prime Video app, Prime members can download episodes on their mobile devices and tablets and watch anywhere offline at no additional cost.

●        Enhanced experiences: Make the most of every viewing with 4K Ultra HD- and High Dynamic Range (HDR)-compatible content. Go behind the scenes of your favourite movies and TV shows with exclusive X-Ray access, powered by IMDb. Save it for later with select mobile downloads for offline viewing.

●        Included with Prime: Prime Video is available in India at no extra cost with Prime membership for just ₹999 annually.

About Excel Entertainment

Excel Entertainment's oeuvre comprises of a string of box-office hits like Dil Chahta Hai, Don, Zindagi Na Milegi Dobara, Talaash & Fukrey. Alongside these blockbusters, Excel has also launched avant-garde ventures like Gully Boy, India’s first hip hop film and the official entry to the Academy Awards this year and Inside Edge, India’s first original series on Amazon Prime Video that was nominated for the coveted International Emmy Awards under the Best Drama category in 2018. In addition to commercially successful cinema, Excel has consistently garnered critical acclaim, Rock On being one such accomplishment that won the production house its second National Award in 2008.

About ROMP Pictures

Since its inception in 2004, Rakeysh Omprakash Mehra Pictures (ROMP) has strived to create films that prize quality content above everything else. We tell stories that connect every viewer on an instinctive level through exploring the intricate web of emotions that form the human experience. Under ROMP’s banner, its films, Rang De Basanti, Bhaag Milkha Bhaag and Delhi-6 have gone on to win critical, national and international acclaim for the socially impactful stories they tell. Our main aim at ROMP Pictures is putting out work that is reflective of the evolving culture and at the same time retain the timelessness of a story.

Gilded - A New Wealth Tech App Offers Fractional Investment In Certified Swiss Gold

* Through Gilded, previously Digital Swiss Gold, customers can purchase 100% certified Swiss gold digitally on Android as well as iOS devices.  Gilded has launched in the UAE alongside India.

Gilded, a new-age wealth-tech app offering long-term savings through fractional investment was launched today. Gilded makes it easier for users to start small by purchasing as little as 1 gram of gold through the app. Gilded will offer its Indian customers savings of up to 7-10% when compared to published Indian gold prices, by cutting out the middlemen and sourcing gold directly from Swiss refineries and storing it in Swiss vaults. Gilded will be available to download for free in India, and is also being launched in the UAE, on both Android and iOS via Google Play Store and Apple App Store.

Gilded provides numerous benefits over other local gold investment options, such as the gold being fully insured, fractional ownership, ethical sourcing, easy 24/7 accessibility, convenience of sending the digital gold worldwide, low costs to sell, ease of receiving funds after a sale, proof of gold authenticity, exclusively Swiss refined and stored gold, and safety from financial system risk.

The Gilded app, previously known as Digital Swiss Gold (DSG), is updated and incorporates improvements based on thousands of users’ feedback over the past six months received via the Digital Swiss Gold app. As the Indian market becomes more comfortable with the benefits of digital gold, such as ease of use, savings, and security, Gilded will be able to cater to the millions of Indians who are interested in gold.

Gilded provides transparent pricing, safety, security, quality, and trust. Free storage is included for the Gilded gold consumer. All gold purchases are legally the property of the client, stored in fully insured vaults, independently audited, and recorded permanently on a private permissioned blockchain to establish immutable title. All clients are issued a proof of ownership in the form of a digital warehouse receipt, which contains vital information such as their gold holding’s account number, bar serial number, blockchain reference and vault location. A picture of the buyer’s gold bar and a certificate of authenticity is also provided on the app. All gold purchased through the Gilded app meets the highest standards, with the gold being Swiss refined and of 0.9999 fineness. All gold holdings are independently audited.

Ashraf Rizvi, Founder and CEO of Gilded and Digital Swiss Gold, said on the launch, “Indians have always had an affinity towards gold as an investment asset as it acts as a hedge against inflation. The need for wealth protecting investment assets has increased since the pandemic and investors are looking for options that are not only profitable in the long run but will also help safeguard their invested money. Digital gold has increasingly caught the eye of investors as it offers all the benefits of gold along with ease of trading and transactions in smaller denominations. With the launch of our new and improved Gilded app, we aim to leverage all our learnings from our Digital Swiss Gold app to provide Indian and UAE consumers a better way to access gold investment and all the benefits of gold ownership through today’s leading technologies.”

The new Gilded app, like the Digital Swiss Gold app, provides a convenient way to buy, sell and hold physical gold stored in fully insured non-bank vaults in Switzerland. Gilded will now allow users to send and receive digital gold as a gift to their loved ones through the mobile app. Users will have the option to choose from a variety of virtual gift wrappings and will be able to add personalized messages. With Gilded’s growing international presence, this is an innovative way of exchanging gifts on special occasions in different countries covered by Gilded and even for sending remittances in the form of digital gold without any additional charges.

About Gilded

Gilded offers an easy, cost-effective platform for buying, holding, selling, and sending digital gold for long-term savings via a mobile app. The company also provides a modern and innovative way to gift gold and send funds in the form of digital gold across borders. Gilded provides the highest level of safety, security, and trust in the gold business. Gold purchased through Gilded meets the highest standards, being Swiss refined, of 0.9999 fineness and compliant with all London Bullion Market Association (LBMA) gold bar specifications. Gilded is registered in Jersey, Channel Islands, with the Jersey Financial Services Commission, the principal financial services regulator in Jersey. Gilded also utilizes Jersey Trust Company as an independent administrator. The app is currently available for free in India and in the UAE on Google Play Store and Apple App Store.