10Club Marks Its First Roll-Up Acquisition With My NewBorn

* By harnessing insights from My NewBorn’s consumer shopping behaviour and usage patterns, 10Club will help the brand become a household name

10club, a new age e-commerce roll up that acquires, operates and grows digitally native businesses has rolled up its first business with My Newborn, a best selling brand in the baby products category on Amazon. Founded by Abhishek Jain, a former Chartered Accountant and his father, Rakesh Jain (a former film distributor), My Newborn addresses the need for good quality baby care products such as blankets, swaddles etc.

My Newborn was born when the father-son duo were trying to find gifts for a newborn in the family. They realised there was a gap in the industry and the easiest way to get into the industry was by selling on online marketplaces, which showed potential for the kind of involvement that came with low risks but high rewards. Despite initial challenges, over 4 years, My Newborn rapidly scaled its operations and became #2 in the baby blanket category. 3 of their products are among the top 10 on Amazon, and their products average a rating of 4.1, given by more than 40,000 customers. The brand has 13 employees and operates out of a large 16,000 square feet warehouse in Delhi.

10club comes in to partner with the founders of My Newborn with committed resources, focus and attention to scale the business. With an expert team that brings deep category and e-commerce experience, the 10club team along with Rakesh and Abhishek Jain will focus on growing the business 10x, by leveraging various growth levers. The team will also leverage insights from consumer shopping behaviour and usage patterns to differentiate its products, so that it can better serve the needs of the 150Mn+ Indian households that form the core of its primary target audience.

10Club has been creating ripples in the Indian markets, right from the outset by raising $40 million in one of the largest seed funding rounds in South Asia led by Fireside Ventures and an unnamed global investor with HeyDay, PDS International, Class 5 Global, Secocha Ventures and founders of hardware startup boat being the other investors. 10Club aims to build a deeply valuable portfolio and elevate the entrepreneurial eco-system within the country by offering e-commerce sellers a financial exit and the right kind of resources required to help them scale the businesses they have taken years to build.

Talking about their first strategic acquisition, Mr Deepak Nair, Co-Founder & COO of 10club said, “At 10Club, we have set out to build high velocity digital native brands by partnering with entrepreneurs who have built strong businesses on market places and have the potential to become category leaders. Rakesh and Abhishek are new generation entrepreneurs who are extremely passionate, with a great understanding of the consumer and have been able to achieve a high growth trajectory for My NewBorn over the years. We are extremely delighted to have Rakesh and Abhishek join us on this exciting journey.”

Expressing his thoughts about the acquisition, Rakesh Jain, Founder at My NewBorn said, “We have built a brand in a category that was considered unconventional. However, having gone through the experience that the parents of new born babies have to go through, we knew there was ample potential for growth. Our persistence has made us one of the category leaders on Amazon and today, we are generating 100% of our revenue from e-commerce marketplace sales. However, we had reached a stage where we needed financial, technical and expertise infusion to take the brand to the next level. 10Club with its incredible expertise and vision has turned out to be just the right growth partner that My NewBorn needed at this juncture.”

My NewBorn is currently focusing on various areas such as making their products available on marketplaces other than Amazon as well. The brand is also aiming to launch products in adjacent categories and leveraging customer insights to differentiate our products. By jointly enhancing sourcing and COGS efficiencies, My NewBorn along with 10club will focus on improving the margin profile and ensuring that their products are more affordable, valuable and easily available to the masses across India.

FOGSI’s Manyata Initiative Ensures Safe Deliveries For 26,500 Women In Karnataka

* Around 530 healthcare workers from 53 hospitals trained to deliver safe and respectful care to the expecting mothers

The Manyata certification by FOGSI has been given to 40 maternity facilities in Karnataka amid the COVID19 pandemic, which is impacting pregnant women severely. These facilities are among the 53 that have been provided with training and assessment in more than 10 districts in the state. This has ensured 26,500 safe deliveries across the state. The training and the entire procedure of certification are being undertaken by the FOGSI recognized CSE in Bengaluru- ARTIST - Asian Research and Training Institute for Skill Transfer. ARTIST is a group of individuals who are dedicated to pioneering innovative research, influencing national-level policy changes, and building capacity through skill transfer. It focuses on activities that will contribute towards the Sustainable Development Goals (SDGs) as outlined by the United Nations.

Manyata is a quality improvement and certification initiative by the Federation of Obstetric and Gynecological Societies of India (FOGSI) which ensures private facilities adhere to WHO-recommended quality care standards and provide safe and respectful care to their patients.

The initiative focuses on building a skilled and competent team of doctors and nurses through a comprehensive curriculum of 16 clinical standards that cover every aspect of pregnancy, right from antenatal care to postpartum family planning counselling. The Quality Improvement trainings provided under the initiative, has brought monumental difference in the way nurses conduct and manage the expecting mothers, especially in managing life threating complications like PPH (post-partum hemorrhage), eclampsia, etc.

Speaking about the progress related to maternity care in the state of Karnataka, Dr. Hema Divakar, National Convenor, Manyata and Lead of Bengaluru CSE, said, “There is an urgent need to train and equip the healthcare staff in private maternity clinics to enable them to take informed steps to manage pregnant women during obstetric complications and emergencies. FOGSI’s Manyata initiative fits perfectly to address this need. The curriculum is so basic for even the smallest of facilities can implement them, but at the same time the coverage is comprehensive so that nothing is missed out. that Through ARTIST, my vision is to reach the length and breadth of Karnataka, and beyond, and make Manyata trainings available at all levels of the society so that every expecting mother is able to seek the highest standards of quality care with respect.”

One of the beneficiaries of the initiative, Dr. Vidya Thobbi, a renowned ObGyn from Bijapur said, “I am grateful to the ARTIST team for seamlessly conducting the Manyata trainings virtually for my nurses and staff. Although they were a bit apprehensive about joining the sessions initially, but they never looked back right from the first session. The training has made a huge difference in their depth of knowledge on each topic, and they are far more organized in the labor room.”

At a time when the COVID-19 pandemic has further necessitated the urgent need to improve maternal health outcomes in the country, particularly for underserved communities in hard-to-reach areas, Manyata is wielding the power of digital interventions to complement the Indian Government's Universal Health Coverage ambitions and its goal to meet the SDG 3.1 goal of reducing maternal mortality to 70 per 100,000 live births by 2030. The initiative is currently running in 14 states in India and has certified a total of 1058 facilities until now.

Brinc And The Chennai Angels Launch TechBlazers Accelerator Program

* Innovative Indian start-ups are invited to apply by September 27 to join this new online accelerator program targeting AgriTech, FoodTech, HeathTech and FinTech sectors.

The Chennai Angels (TCA) a leading angel investor network, and Brinc, one of the world’s leading global venture accelerators, today announced the launch of an online acceleration program for AgriTech & FoodTech, HealthTech, and FinTech start-ups, for which applications are now open.

The three-month intensive program will provide participating start-ups a minimum investment of 50,000 USD and the opportunity for further funding based on their performance and initial traction. Start-ups will be fully supported through their product development and will receive business and investor connection/matchmaking to facilitate growth.

“The Chennai Angels is delighted to partner with Brinc on this initiative to support start-ups in HealthCare, FinTech, AgriTech, and food processing industries. Not only will we be able to extend much-needed seed capital but also to expose start-ups to an elite network of mentors who will work with them to achieve initial revenue traction. TCA looks forward to the launch of TechBlazers with much anticipation, as we wait to see which of the start-ups successfully pass vetting and are invited to be part of this cohort,” said, Mr K Chandran, CEO of The Chennai Angel.

TechBlazers is open to India-domiciled start-ups and will run virtually for three months. Start-ups will be, among other things, supported with:

·         Access to international and local mentors.

·         A full spectrum of manufacturing services in Asia

·         Sales and marketing strategies to help grow their businesses

·         Support to develop their business models

·         Negotiation mock sessions to improve skills in connecting with Investors

·         Pitch practice and support to improve pitch decks and promo materials

·         Multiple group and individual training sessions on technical feasibility, financial viability, and market desirability

In addition to funding received upon selection to the program, start-ups will benefit from access to Brinc and TCA’s extensive network of mentors, investors, corporates and industry experts. To support growth beyond the program graduates will get a dedicated Portfolio management team.

“Brinc is excited to launch this program with TCA and showcase our further commitment to the development of high-quality start-ups in India. Over the years we have seen the potential of the Indian ecosystem and we have been impressed by the quality of start-ups we have worked with. We are happy that this opportunity expands and cements our presence in India allowing us to join our global network of resources with TCA’s to help motivated founders solve the most challenging problems that India is facing.” Said, Mikhail Zenchenkov, Program Director for India, Brinc

Application Information

Interested start-ups may apply here and learn more through the links below.

AgriTech & FoodTech: https://www.brinc.io/accelerators/accelerators/agritech-india-program/

FinTech:

https://www.brinc.io/accelerators/accelerators/fintech-india-program/

HealthTech:

https://www.brinc.io/accelerators/accelerators/healthtech-india-program/

Application Deadline is Sep 27, 2021.

About Brinc

Brinc is a global venture accelerator that runs 15+ sector-focused programs across six global locations. Over the years, Brinc has developed unique methodologies in scouting, selecting, and accelerating innovative start-ups to deliver value to our partners. Brinc also values post-program support and provides invaluable assistance beyond the runtime of their programs. Among Brinc partners are global governments, corporations, investors, and start-up graduates who have grown their ventures from pre-seed to Series A and beyond through the program. Learn more at www.brinc.io.

About The Chennai Angels (TCA)

The Chennai Angels (TCA) is one of India’s leading Angel Investment Networks. In an effort to help a new generation of entrepreneurs, a group of prominent successful entrepreneurs came forward to form a consortium called The Chennai Entrepreneurship Trust Fund in Nov 2007, which is now The Chennai Angels (TCA). These members and those that followed have successfully built, run and in many cases exited enterprises across multiple domains. Besides providing capital, TCA members act as mentors for those venturing into the business world. TCA has among its members several Venture Capitalists who are available to partner with TCA on more significant outlays. TCA investors can handhold the entrepreneur through the fundraising life cycle and open doors to customers and partners of a very high order. As of today, TCA has invested over INR 110 Cr across 60+ Start-ups. Learn more at https://www.thechennaiangels.com

Ravi Raghavan Elected President As IMTMA Completes 75 Years

The Indian Machine Tool Manufacturers’ Association (IMTMA) held its 75th Annual General Meeting (AGM) on 20th September 2021, on the digital platform. 

Mr. Ravi Raghavan, Managing Director, Bharat Fritz Werner Limited was elected as the President of IMTMA for the year 2021-2022. Mr. Ravi Raghavan will succeed Mr. Indradev Babu, Managing Director, UCAM Private Limited as IMTMA’s President for the year 2021-2022. Mr. Rajendra S. Rajamane, Managing Director, Rajamane Industries Private Limited was elected as the Vice President of IMTMA for the year 2021-2022. The new Executive Committee of IMTMA for the year 2021-2022 was also formed. 

This year’s AGM was a special one for IMTMA as the Association, which was formed on 20th September 1946, completed 75 years. From a 19-member team at the time of its formation in 1946, the Association has grown to have over 460 members. A logo commemorating IMTMA’s 75 years was unveiled and a corporate video tracing the history of IMTMA was played at the AGM.

Various luminaries such as Mr. Jamshyd N. Godrej, Past President, IMTMA, Mr. T. V. Narendran, President, Confederation of Indian Industry (CII), Mr. Sunjay J. Kapur, President, Automotive Component Manufacturers  Association of India (ACMA), Mr. Jayant D. Patil,  President - Society of Indian Defence Manufacturers and Whole-time Director and Sr. Executive Vice President (Defence & Smart Technologies), Larsen & Toubro Limited, Mr. Dimitrov Krishnan, President,  Indian Construction Equipment  Manufacturers Association and Managing Director, Volvo CE India Pvt. Ltd. and Mr. Aravind Melligeri, Chairman & CEO, Aequs Pvt. Ltd. addressed the AGM which was held digitally due to the Covid situation.

Expressing his thoughts on IMTMA completing 75 years, Mr. Indradev Babu, Outgoing President of IMTMA said, “As we celebrate this milestone, it is time to remember our industry luminaries who were the guiding light for IMTMA in its formative years and played a pivotal role in establishing IMTEX and Bangalore International Exhibition Centre (BIEC). The vision set by them will be instrumental in moving IMTMA to its next phase of growth.”

Concurring with Mr. Babu’s views, Mr. Ravi Raghavan, the President of IMTMA for the year 2021-2022 said, “IMTMA will continue to tackle the numerous challenges faced by the machine tool industry in regard to supply of raw materials, working capital, tariff protection, import regulations, government purchases of machine tools, and so on.”

Speaking about IMTMA’s growth over the years at the 75th AGM, Mr. Jamshyd N. Godrej, Past President, IMTMA said, “IMTEX, was a unique initiative of IMTMA and marked the beginning of trade fairs in India. BIEC, established by IMTMA in Bengaluru, has expanded significantly and hosts many shows. IMTMA’s close association with various industries has been helped its growth over the years.”

Speaking in the inaugural session, Mr. Narendran, President, CII President lauded IMTMA’s unique partnership with CII which has strengthened the country’s manufacturing sector. He said that CII greatly valued its strong relationship with IMTMA.

Supporting Mr. Narendran’s views, Mr. Sunjay J. Kapur congratulated IMTMA for the glorious milestone and added that the Association has played a significant role in developing India’s engineering and manufacturing streams. He added that automobile and auto component industries have always considered machine tools as integral for its growth.

Speaking about IMTMA’s onward journey, Mr. V. Anbu, Director General & CEO, IMTMA and BIEC said, “As India moves towards the next phase of growth with $5 trillion economy in sight and manufacturing industry’s share being about $1 trillion in it, machine tool industry should look forward towards a quick adoption of new-age technologies to achieve this vision. IMTMA will continue to play an enabling role in this.”

About IMTMA

IMTMA is the apex body and single point of contact for machine tool industry in India. IMTMA plays a crucial role in the growth and development of metalworking industry in the country. IMTMA’s initiatives range from policy advocacy, export promotion, trade fairs, mega events, training, seminars, technology missions, publications, etc. IMTMA, formed in 1946, has a membership of over 460 members and represents 90% of the organized machine tool and allied equipment manufacturers in the country. 

India’s First Commercial Data Center Completes 21 Years In Operation

* Sify’s Facility At Vashi Was The First Of The 10 Company-Owned Data Centers

Sify Technologies Limited (NASDAQ: SIFY), India’s most comprehensive ICT solutions provider today announced that its Data Center at Vashi, the first commercial Data Center in India, completed 21 years of uninterrupted operations.

Sify Technologies expanded into the Data Center business in the year 2000. Sify has built and today operates 10 carrier-neutral Data Centers, currently offering more than 70 MW IT Power. Following the facility at Vashi, Sify followed up with larger capacities in Bangalore, Chennai, Airoli, Noida, Rabale, Hyderabad and Kolkata and aims to add 200 MW in the next 4 years. Through CloudCover, Sify also services a network of 49 Data Centers across India.

Delighted at this milestone achievement, Mr. Raju Vegesna, Chairman, Sify Technologies, said “Sify has pioneered and set high standards in the Data Centre space in India ever since the launch of country’s first concurrently-maintainable data centre at the Infotech Park in Vashi, Mumbai in September 2000. Sify was the first to foresee the scope for Data Center as a business vertical in India and hence aggressively invested in the key markets. Today, the combined strength of our Data Centers and Network connectivity puts us in an unbeatable position to drive digital transformation across the nation.”

Key advantages/ features of Sify Data Centers

* Strong connectivity with cloud cover and cost saving with cross connects

* Leading industry SLAs supporting colocation agreements

* Carrier neutral services

* Earthquake resistant structure

* Proven capability to meet 99.982% uptime

* Connectivity from major telecom carriers

* On demand cloud and Managed hosting services

Mr. Kamal Nath, CEO, Sify Technologies, said “This 21st anniversary of our Vashi Data Center is testimony to Sify’s legacy in the Data Center business in India. Our data center footprint across the country powers our cloud@core philosophy and drives the Integrated Data Center solutions that we offer to our clients to help them meet their digital transformation goals.”

About Sify Technologies

A Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses. 

Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.

More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1600 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.

With Impending Online Games Ban, Start-Up Ecosystem And Thousands Of Jobs In State At Stake

A bill tabled last week to amend the Karnataka Police Act of 1963 states “games means and includes online games, involving all forms of wagering or betting, including in the form of tokens valued in terms of the money paid before or after the issue of it, or electronic means and virtual currency, electronic transfer of funds in connection with any game of chance.” Hopefully, the government will clarify that the Audio Visual, Gaming and Comics, IT & ITES sectors, that create, develop software and services and offer gaming will not be impacted or clubbed with online gambling companies. This would amount to clubbing the good with the bad and the ugly. At this stage, these companies have taken legal views that clearly indicate that they are not the target of this proposed amendment.

The first Indian state to announce an AVGC policy way back in 2012 was Karnataka. The policy was initiated to promote the state as a lucrative investing destination and attract venture capital funding in the AVGC sector. This in turn aimed to provide employment to educated youth and bridge the gap in the demand and supply of skilled resources. About 22 percent of Indian game developers and service providers are located in the state. (Source: NASSCOM Report 2015). Out of the country’s 425 studios (300 animation, 40 VFX and 85 game development), 11 percent are located in Bengaluru. About 14 percent of AVGC professionals are based out of Bengaluru as per a report by ABAI. These numbers clearly indicate that Karnataka needs to closely look at its online games’ ecosystem and the potential impact such legislative action will have.

It is curious that the proposed bill has not taken into account the views of the investing community or the large players in the state which have active business operations engaging with the youth across the country. The state has been among the top destinations for any potential start-up because of the ecosystem that has been built. However, it is ambitious to assume that companies whose offering may be banned in the state will continue to remain and invest here. A safe assumption will be that that the ban will encourage the companies to move out to states like Uttar Pradesh, Maharashtra, Andhra Pradesh, Gujarat which are actively wooing the hundreds of start-ups.

In India, domestic and foreign investment in the sector has increased as the number of platforms have also increased. The online gaming industry raised about Rs. 1200 crore ($174 million) in 2020 versus Rs. 679 crore ($97.2 million) a year earlier, according to data from Tracxn. Fundraising this year is expected to surpass previous records, industry experts say. The start-up industry thrives on technology, innovation and skilled personnel with minimal government interference which existed in abundance in the state. As per industry estimates, Karnataka has more than 80 training institutes imparting AVGC related training. Therefore, it is highly unlikely that the state government will not take these factors into consideration or will seek to enforce this proposed amendment that results in lack of job opportunities for students of the AVGC, IT & ITES sectors.

Abbott Launches New PediaSure In India – To Support Catch-Up Growth And Unlock Growth Potential In Children

•  PediaSure, a complete and balanced nutrition solution with 37 growth nutrients, is scientifically tested to help improve immunity and bring visible growth to children in 90 days.

•  The new PediaSure is enhanced with arginine and natural vitamin K2, two important nutrients to help further support catch-up growth.

Childhood is a time of rapid growth, and a time that’s critical for children to get the right nutrition. Abbott announced the launch of its innovative childhood nutrition solution, the new PediaSure with arginine and natural vitamin K2 to support children's growth and development through proper nutrition.

Poor nutrition in children is common globally and may result in both short- and long-term negative health outcomes. Undernutrition can take on many forms including underweight (low weight-for-age), wasting (low weight-for-height), stunting (low height-for-age), and micronutrient deficiencies.

The lack of a sufficient, varied, and nutritious diet can affect the cognitive development of a child, interfere with learning, and weaken their immune system. The consequence is largely irreversible if not corrected during early years of life. While genetics determine the potential for bone lengthening, environmental factors, especially nutrition, help children reach their full height potential regardless of geographic or cultural differences.

PediaSure's new formulation will help children have longer and stronger bones

Backed by strong science, with over 20 clinical studies and more than 30 years of research, PediaSure has proven to be a formula that provides complete and balanced nutrition, including 37 essential nutrients needed for growth in children. The scientifically tested benefits of PediaSure promote adequate growth and, together with the consumption of a varied diet, a better nutritional status associated with fewer sick days and increased physical activity in children. The new formulation with arginine and natural vitamin K2 will further support bone growth and promote catch-up growth in early childhood.

“Arginine is an important amino acid that plays a key role in growth by promoting the multiplication of cells in the growth plate of the bones to help them grow faster when there is a delay in growth,” said Dr. Irfan Sheikh Head Pediatric Nutrition, Scientific & Medical Affairs, Abbott’s nutrition business in India.  “Natural vitamin K2 helps to transport and absorb calcium in the bones and ultimately helps build stronger bones. Abbott’s new PediaSure with these two nutrients is scientifically designed to help bones grow longer and stronger to further support catch-up growth.”

You can find new PediaSure in your favorite supermarket, pharmacy and ecommerce websites. It is available in premium chocolate, vanilla delight and kesar-badam flavours.

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 109,000 colleagues serve people in more than 160 countries.