Jalan Kalrock Consortium Appoints Vipula Gunatilleka As New Chief Financial Officer Of Jet Airways

Jalan Kalrock Consortium, the Successful Resolution Applicant and new proposed promoters of Jet Airways announced the appointment of Vipula Gunatilleka as Chief Financial Officer.  Mr Gunatilleka will be joining from March 1, 2022  

Mr Gunatilleka was the CEO of SriLankan Airlines until January 2022 and had the most daunting task of leading the national carrier during the pandemic. Mr Gunatilleka was head hunted by the Board in 2018 to re-structure SriLankan Airlines and in less than two years after assuming the duties as the CEO, the airline recorded positive EBITDA/Cash Flow for the Fiscal Year 2019/20 notwithstanding the devastating effects of the terror attacks in April 2019 in Sri Lanka followed by the global pandemic in early 2020. As a result of key initiatives introduced to improve the service standards and operational efficiencies, the airline was accredited with the ‘World’s Most Punctual Airline’ twice in 2019. 

Prior to joining SriLankan Airlines, Mr Gunatilleka was the CFO & Board Member of  TAAG Angola Airlines from November 2015 to July 2018 under Emirates Management. He played a pivotal role to turnaround the loss-making national carrier of Angola.  

Mr. Ankit Jalan, Member of the Monitoring Committee of Jet Airways and part of Jalan-Kalrock Consortium said “We are excited to welcome Mr. Vipula Gunatilleka to our young and energic team . Vipula is an aviation expert and regarded as a turnaround specialist in the industry. He has been shortlisted after a rigorous process run by our Executive Team over the last several months. I am certain Vipula will be an asset to the organization and will provide the necessary vision to revive the operations of Jet Airways as per the plans of the Consortium.”  

Mr. Gunatilleka qualified as a Chartered Accountant in the year 1987 after which he did his MBA from the University of Colombo, Sri Lanka. Mr. Gunatilleka is also a qualified Chartered Management Accountant (FCMA) from UK and Certified Public Accountant (FCPA) from Australia.  

Mr. Gunatilleka is known for his astute knowledge in aircraft financing, strategic planning, cost-efficient business modelling and openness to adopt hybrid models to keep business costs low and efficiency high. 

Speaking on his plans, Mr Vipula Gunatilleka said “I am very excited to join the company and I look forward to contributing my knowledge of last 30 years in Jet Airways’ resurgence in its new avatar. We will capitalize on the strong brand value which Jet Airways has in the market and use it to re-build the lost ground.”  

Mr Gunatilleka further added “I first joined SriLankan Airlines as its CFO in 2001, when it was part of the Emirates Group and was establishing its feet in the Indo-Pacific Sub-Continent. Having spent sufficient time in leadership roles in the aviation industry including as CEO of SriLankan Airlines until January 2022, I am aware of the responsibility that lingers on the shoulders of the leadership team, especially the CFO and I am confident Jet Airways will soon regain its lost glory.”  

About Jet Airways 

Jet Airways is a common household aviation brand in India and the oldest private airline with a history of more than 25 years. Jet Airways underwent the corporate insolvency resolution process under the Indian Insolvency and Bankruptcy Code from 20 June 2019 until 22 June 2021 and as per orders of the Hon’ble NCLT, Mumbai Bench, the resolution plan for Jet Airways submitted by the Jalan Kalrock Consortium was approved. As per the approved plan, the Jalan Kalrock Consortium will be the new promoters of Jet Airways. 

Jet Airways is being re-established under the new management of Mr. Murari Lal Jalan and Kalrock Capital Partners and will be renowned for reaching out to all its guests with a heart-warming spirit that is embedded in the unique Indian hospitality. Jet Airways will delight its guests with genuine care and personalized quality service, along with consistent, reliable and efficient operations. 

Jet Airways will innovate and deliver service excellence, setting standards for competition to emulate. Jet Airways will again be the most sought-after airline to fly and the most sought-after place of work. Jet Airways will achieve these objectives whilst simultaneously ensuring safe operations and sustainable profitability for all stakeholders. 

Record 440 Students From Aakash+BYJU’S Qualify NTSE (Stage II); Eligible For NTSE 2021 Scholarship

* Aakash Byju’s continues the trend of rising NTSE selections year after year. 

* NTSE is a national level scholarship program to identify and nurture talented students for pursuing courses in Science and Social Science as well as professional courses like Medical and Engineering. 

Ina stupendous result, 440 students from Aakash+BYJU’S, the national leader in test preparatory services, have qualified to be eligible for the NTSE 2021 scholarship, one of the most prestigious scholarships in the country.  

Commenting on the impressive results, Mr Aakash Chaudhry, Managing Director, Aakash+BYJU’S, said: “The result this year has been exceptional. Our students and teachers have toiled hard to achieve this feat. 440 selections in NTSE Stage-2 are our highest selection till date. Congratulations to all our students who have performed well in the NTSE (Stage II) 2021. It is the result of the hard work put by the students, the support of their parents and the quality test preparation imparted at Aakash+BYJU’S. I wish them all the best for the future.” 

The NTSE scholarship under the present scheme is awarded to candidates for pursuing courses in science and social science up to doctoral level and in professional courses like medicine and engineering up to second-degree level. As on date, approx. 2,000 scholarships are awarded every year in the country with reservation of 15 percent for SC, 7.5 percent for ST and 27 percent for other backward classes and 4 percent for a group of students with benchmark disabilities. 

Identification of talent comprises a two-stage selection process. While the individual State/UT conducts the first stage selection, the second stage selection at the national level is carried out by the NCERT. 

Aakash+BYJU’S aims to help students in their quest to achieve academic success. It has a centralized in-house process for curriculum and content development and faculty training and monitoring, led by its National Academic Team. Over the years, students from Aakash+BYJU’S have shown a proven selection track record in various Medical & Engineering entrance exams and competitive exams such as NTSE, KVPY, and Olympiads. 

About Aakash+BYJU’S 

Aakash+BYJU’S provides comprehensive test preparatory services for students preparing for Medical (NEET) and Engineering Entrance Examinations (JEE), School/Board Exams and Competitive Exams such as NTSE, KVPY, and Olympiads. The “Aakash” brand is associated with quality coaching and a proven student selection track record in various Medical (NEET) and JEE/Engineering Entrance Examinations, Scholarship exams & Olympiads. 

With over 33 years of operational experience in the test preparatory industry, the company has a large number of selections in Medical & Engineering Entrance Exams and several Foundation level Scholarship exams/Olympiads, a pan India network of 250+ Aakash Centers (including franchisee), and an annual student count of more than 2,75,000. 

The Aakash group has investment from Think & Learn Pvt Ltd (BYJU’S) as well as by world's largest Private Equity firm Blackstone.  

Planet Smart City Launches €60 M Capital Raise To Accelerate Growth

* UK-based affordable housing proptech pioneer also doubles revenues to €93m

Planet Smart City, the London headquartered global leader in smart affordable housing, today announces that it has launched a €60m capital raise to accelerate the Group’s ambitious business plans. Planet’s India business is helmed from Pune with ‘Universe’ at Life Republic township in Pune, as a joint venture with Kolte-Patil Developers Ltd., and has plans to expand to Mumbai and Bangalore.

Since its establishment in 2015, Planet Smart City, which specialises in large-scale projects that create smart neighbourhoods and affordable homes - has raised more than €160 million, from 390 institutional and private investors. In 2021, the Group recorded revenues of approximately $105 million dollars (€93 million), doubling the result of 2020 which had been $52 million dollars.

The €60m capital increase is aimed at accelerating the implementation of Planet’s ambitious business plan that includes the launch of approximately 54 smart projects over the next three years (a total of over 40,000 housing units). This will provide a platform to help establish Planet as a world leader in the affordable segment housing by 2030 with more than 45,000 homes sold each year.

Planet's projects are capable of revolutionising the way residents live in urban environments. Its success in Brazil - where the first families are moving to its neighbourhoods – has created a unique proposition compared with the rest of the real estate market, particularly in the affordable market segment.

Planet's approach to community building is aligned with the highest environmental and social sustainability standards which can be measured through its proprietary digital platform, the ‘Planet App’. Because of this, residents' experience within their community is totally transformed: services are accessible through digital solutions that provide increased convenience, help residents save money, and live more sustainably. The Planet App, which is provided to all residents for free has 70% adoption rate across its projects.

The Group’s approach also completely transforms the classic real estate business model whereby revenues come exclusively from the sale of properties. Planet’s digital business unit generates revenues from the management of services offered to the community and data analytics. This also enables Planet to continue to reinvest in its neighborhoods for the long-term.

Giovanni Savio, co-founder and Global CEO of Planet Smart City commented: “The design of new large-scale residential real estate developments is increasingly characterised by a multidisciplinary approach: technological innovation, digitalisation of services, and solutions that promote sociality. Planet Smart City is the only global company that integrates these concepts into an innovative and scalable offer for affordable housing. Our unique approach is also increasingly recognised by sector players who are looking at Planet to be involved in their projects and co-create first smart neighborhoods in Dallas. In India, we have planned 20+ smart solutions for project ‘Universe’ at ‘Life Republic’ township in Hinjewadi, Pune. We will continue to expand this successful association. ”

Building upon the success of its first co-development in Pune, ‘Universe’, Planet and Kolte-Patil plan to add several projects to the platform over the next three years in Mumbai, Pune, and Bengaluru with an aim to co-develop a minimum of 15,000 housing units*.

About Planet Smart City

Founded in 2015 by real estate experts Giovanni Savio and Susanna Marchionni and chaired by physicist and entrepreneur Stefano Buono, Planet Smart City is a global leading proptech company that designs and builds neighbourhoods in countries with high housing deficits and works in partnership with real estate developers around the world to improve quality of life. Planet Smart City's mission is to create communities that respect local cultures and support inclusivity and sustainability. It does this through integrating innovative infrastructural, technological and social innovation solutions into its projects.

The research, development and integration of these innovative solutions is undertaken by subsidiary Planet Idea, which operates through multidisciplinary Competence Centres in Turin (Italy) and Pune (India). Planet Idea has, amongst other projects, created and launched the Planet App, a digital platform of high value-added services that also facilitates communication between residents in Planet Smart City’s neighbourhoods.

The Planet Smart City model has been proven in Brazil where four projects are underway: Smart City Laguna, Smart City Natal, Smart City Aquiraz and Viva!Smart. In 2020, the business expanded into India through a partnership with Kolte Patil. In Italy, the company collaborates with leading real estate developers in numerous smart social housing projects.

For further information please visit www.planetsmartcity.com

Parallel Wireless, Türk Telekom And Juniper Networks Announce Leading-Edge Open RAN Initiative In Turkey

* Enabling state-of-the-art 4G and 5G broadband communications and new applications  

Parallel Wireless, Inc., the U.S.-based Open RAN company delivering the world’s leading All G - 2G, 3G, 4G, and 5G, cloud-native Open RAN solution, has announced a collaboration with Türk Telekom and Juniper Networks on a multivendor Open RAN initiative to deliver state-of-the-art broadband communications. Türk Telekom, the leading-edge and first integrated telecommunications operator in Turkey, will deploy Open RAN technology utilizing the RAN Intelligent Controller (RIC). Deployments will occur across trial sites after completing tests in the Türk Telekom Innovation Center.

Türk Telekom is an early adopter and pioneer of Open RAN technology, utilizing a broad vendor ecosystem to build more flexible, efficient, and secure mobile networks to meet the demands of the 5G era. Türk Telekom has previously collaborated with Juniper Networks for the productization of the RIC, a critical part of Open RAN architecture, to automate networks, enable efficient resource utilization, and provide an optimal customer experience.

Within the scope of this new initiative, Türk Telekom will utilize Parallel Wireless Open RAN software and Juniper’s state-of-the-art RIC:

·       Parallel Wireless will provide an end-to-end Open RAN solution utilizing Band 1, 3, 7, 8, 20 radios and DU,CU software for 2G, 3G, and 4G and band 78 radios and DU,CU software for 5G.

·      The first phase of the lab trial utilizing the RIC for admission control over 4G has been completed with more phases to come.

·      Juniper Networks will be working alongside Türk Telekom and Parallel Wireless to provide its extensive RIC platform. Juniper will be deploying both the near-real-time (near-RT) and the non-real-time (non-RT) RIC and demonstrating the capabilities of various xApps/rApps. This will enable Türk Telekom to deliver differentiated services faster to their customers.

This Open RAN initiative will be trialed in both Türk Telekom’s Innovation Center and in field environments by:  

·      Building a cloud-native, Open RAN world-class network solution based on a high-performance, distributed architecture.

·      Improving service agility and reducing overall Total Cost of Ownership (TCO) with the introduction of RAN automation.

·      Providing a turnkey solution that optimizes high traffic capacity requirements.

·      This leading-edge network will help to enable mobile broadband services such as 8k video streaming, Internet of Things (IoT), e-Health, e-Education and much more.

Yusuf Kirac, CTO, Türk Telekom, said, “At Türk Telekom, we successfully represent our country in the global arena by taking active roles in drawing the roadmap for 5G. As a result of our cooperation with Juniper Networks for the RIC solution last year, we now export our  new technology solutions globally. We have also established collaborations with global technology manufacturers. Within the scope of these collaborations, we continue our development, tests, and productization of Open RAN. Our collaboration with Parallel Wireless and Juniper Networks on this initiative is extremely important throughout our Open RAN journey and we are confident that this collaboration will be an important step towards enabling state-of-the-art 4G and 5G broadband communications and new applications.”

Constantine Polychronopoulos, VP, 5G and Telco Cloud at Juniper Networks, said, “Collaborative efforts by technology vendors and service providers are critical to demonstrate real-world interoperability in this exciting and emerging space. Juniper’s ability to provide an open SDK and network-based APIs facilitates seamless portability of x/rApps on its RIC in multivendor environments and underscores the potential for all operators.”

Keith Johnson, President of Parallel Wireless, said, “Parallel Wireless is proud to partner with Türk Telekom, the first integrated telecommunications operator in Turkey, providing our leading-edge, next-generation Open RAN softare platform, enabling All G - 2G, 3G, 4G and 5G broadband communications and new state-of-the-art digital applications.”  

About Parallel Wireless

Parallel Wireless’s ALL G (2G, 3G, 4G, 5G) O-RAN compliant software platform has been deployed with global Mobile Network Operators from across six continents and forms an open, secure, and intelligent RAN architecture to deliver wireless connectivity, so all people can be connected whenever, wherever, and however they choose. For more information, visit: www.parallelwireless.com. Connect with Parallel Wireless on LinkedIn and Twitter.

About Türk Telekom

Türk Telekom, with over 180 years of history, is the first integrated telecommunication operator in Turkey. Having a wide service network and product range in the fields of individual and corporate services, Türk Telekom unified its mobile, internet, phone and TV products and services under the single “Türk Telekom” brand. “Turkey’s Multiplay Provider” Türk Telekom has 16.9 million fixed access lines, 14.3 million broadband, 2,9 million TV and 24 million mobile subscribers as of December 31, 2021. Türk Telekom Group Companies provide services in all 81 cities of Turkey with nearly 36 thousand employees with the vision of introducing new technologies to Turkey and accelerating Turkey’s transformation into an information society. www.turktelekom.com.tr

Hero MotoCorp And BPCL Join Hands To Electrify The Country

“Hero MotoCorp has always been at the forefront of propelling the industry and leading it into the future. Once again, as the automotive and mobility sectors are poised to evolve, we are taking strategic steps to lead this evolution. Through our endeavors towards both organic and inorganic business expansion, we are poised to accelerate the growth of emerging mobility trends. 

"Sustainability has been a key pillar of growth within the Hero MotoCorp global ecosystem. Now, with our Vision “Be the Future of Mobility” we are aggressively advancing our initiatives towards the technologies and solutions that will empower all individuals, societies and industries to contribute towards the planet’s environmental targets.

“In addition to developing world-class and tech-driven sustainable emerging mobility solutions, we are also making significant efforts towards building a robust EV ecosystem and offering the most advanced services to customers. The partnership with BPCL, which is already at the forefront of customer energy solutions, will be beneficial for both the EV segment and customers. This collaboration will also unlock opportunities for asset allocation and expansion in the future.”

Dr. Pawan Munjal, Chairman and CEO, Hero MotoCorp

“Bharat Petroleum has been pioneers in providing innovative mobility related solutions to consumers in the field of energy. Our Pure for Sure customer promise launched at the turn of the century brought in a whole new paradigm in consumer trust and transparency at the point of sale and our expansive digital embrace has added new dimensions in convenience and personalization thereby enriching our customer engagement processes.

As we step into the exciting phase of energy transition, BPCL will continue to be at the forefront of accelerating the spread of clean energy in the country and will be creating a network of 7000 Energy Stations across the country with EV charging leading our endeavor.

India’s personal mobility is primarily driven by two-wheelers who form the largest part of our valued customer base and the two-wheeler segment has been the early adopters of electric two wheelers. Our alliance with Hero MotoCorp, global leader in the two-wheeler industry and with a fine penchant for innovation, is therefore an extremely strategic step towards ushering in an era of best-in-class EV charging solutions for our customers in our Energy Stations and an exciting future of innovative solutions in the EV sector”.

Arun Kumar Singh, Chairman & Managing Director, Bharat Petroleum Corporation Ltd.

In a development that is set to electrify India, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, and Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company, have collaborated to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country.

Aligned with its Vision to “Be the Future of Mobility” and with its aim to drive the growth of EVs, Hero MotoCorp has become the first automotive OEM to tie up with the leading Public Sector Undertaking (PSU) to set up charging infrastructure across the length and breadth of India.

Bharat Petroleum, accelerating its focus on new business segments for sustainable growth, announced in September 2021 that it is converting 7,000 conventional Retail Outlets into Energy Stations providing multiple fueling options, which will include EV charging facility also, in the medium to long term.

The two mega entities will first establish a substantial charging infrastructure at the existing nationwide energy station network and subsequently may broaden the collaboration to develop more synergies within the EV ecosystem and adjacent business verticals, thereby enabling prospects throughout the customer life cycle.

In the first phase, charging stations will be set up across nine cities starting with Delhi and Bengaluru. The network will be then expanded across the country with the aim to establish a high density of charging stations.

Hero MotoCorp will soon commence the infrastructure development in the two cities. Each charging station will feature multiple charging points including DC and AC chargers and will be available for use to all two-wheeled EVs.

The entire user charging experience will be controlled by a Hero MotoCorp Mobile-App and will be a cashless transaction model.

The massive Bharat Petroleum energy station network will also provide accelerated opportunities to expand the scope of operations and services. The companies may utilize the gateways created to make additional investments into building a robust EV ecosystem.

Baaz Bikes Raises 2M$ Led By Kalaari Capital To Support The Gig Economy With EVs.

Baaz Bikes (ElecTorq Technologies) today announced that it has received 2M$ in Pre-Series A led by Kalaari Capital. Existing Investors like AdvantEdge, 9Unicorns and Sumant Sinha (CMD-Renew Power) also participated in this round. The company’s focus is to become a Mobility Platform that provides gig delivery workers access to its in-house designed cost-efficient EV ecosystem (Baaz Bikes and Baaz Swap Network). Baaz aims to solve the critical problems faced by gig delivery workers, i.e., long range requirements, rising petrol costs, lack of capex to buy bikes and heavy downtime due to maintenance.

Baaz bikes have an infinite range, supported by their Dense Automated Battery Swapping Infrastructure (Baaz Swap), which helps the gig delivery workers (a.k.a. Baazigars by Baaz) to efficiently make deliveries with minimum cost and without the anxieties associated with EVs i.e., Range, Charge and Service.

Aimed at assisting gig workers to increase their net take home income by up to 100%, Baaz adopted a tech-driven Asset and Operations Light approach, which not only provides an opportunity for gig workers, but also enables local businessmen to enter the rapidly growing EV market in India by becoming a Baaz Bike Rental Partner.

“It’s always exciting when we meet purpose-oriented entrepreneurs inventing and creating foundations which will unlock tremendous economic value. When the ergonomics of engineering directly impacts the livelihood of gig workers, it is almost a certainty that scale and its benefits will be visible quarter to quarter for the business. Baaz Bikes’ indigenous & innovative “Vehicle to Energy to Software” platform is a large-scale mobility solution designed for both India and Bharat, and will be the global standard for last-mile delivery. We are fortunate to partner with impact-oriented founders and are privileged to share their passionate vision of creating scale and a profitable EV business while directly enhancing India’s economy.” said Ravinder Pal Singh, Partner, Kalaari Capital.

“We are getting bombarded with requests from gig workers to join our platform and start delivering via Baaz. Currently on our Baazigar platform, we have gig workers working for food delivery giants like Zomato and Swiggy. With new age companies promising 10-minute deliveries, demand is only going to strengthen from here. We are excited to have Kalaari’s support in our journey towards Building for Bharat. With this 2M$, we are going to blanket Delhi with our ecosystem in the next 6 months and are targeting to clock 100,000 kms every day,” said Anubhav Sharma, Co-Founder and CEO of Baaz.

A shift towards a sustainable and inexpensive modes of travel has been observed globally. The EV sector is expected to grow by 90% by 2030, according to a report by RBSA Advisors. In the Union Budget 2022-23, the government has created a framework for battery swapping policy to allow EV charging stations for automobiles. The private sector will thus be motivated to create innovative battery models to accelerate the EV ecosystem. This will boost the adoption of EVs, and initiate a move towards cleaner energy and environmentally friendly transportation.

Baaz Bike is a start for inexpensive and sustainable transport for gig workers. India is moving towards being a global hub for EV adoption and manufacturing, with the impetus the government has provided. People are moving away from hydro-carbon based fuel systems towards green and cleaner energy. This demonstrates that EVs are the future. Baaz is already live in two zones of Delhi with its Swapping Infrastructure and its riders are clocking close to 100,000 green kms every month.

About Baaz Bike:

Founded by 5 IIT Delhi Alumni, Baaz Bikes is a Mobility Platform that provides the Gig Delivery Workers, an access to its in-house designed Cost Efficient Bikes (Baaz Bikes) provided by the Local Bike Rental Partners, with practically an infinite range supported by its Dense Automated Battery Swapping Infrastructure (Baaz Swap), which helps the Gig Delivery Workers (a.k.a Baazigars by Baaz) to efficiently make deliveries with least cost and without worrying about various anxieties associated with EVs i.e. Range, Charge and Service.

About Kalaari Capital:

Kalaari Capital is an early-stage, technology-focused venture capital firm based out of Bengaluru, India. Since 2006, Kalaari has empowered visionary entrepreneurs building unique solutions that reshape the way Indians live, work, consume and transact. The firm's ethos is to partner early with founders and work with them to navigate the inevitable challenges of fostering ideas into successful businesses. At its core, Kalaari believes in building long-term relationships based on trust, transparency, authenticity, and respect.

Exhilarating Exterior At Vaishnavi Icon On Richmond Road, Bengaluru

Vaishnavi Group, a leading builder in Bengaluru has incorporated a unique design element in one of their commercial buildings. Vaishnavi Icon, a six-storeyed office space located on Richmond Road a few meters from Trinity Circle boasts of a very unique exterior.

A profound steel sculpture greets you at the entrance of the building which is as magnificent as the building itself. The sculpture, named ‘Exhilaration’ is a 15-foot-high wired human face crafted in pure stainless steel by renowned sculptor, Arzan Khambatta

The concept of the sculpture is all about keeping an open mind and letting your imagination run free. The sculpture took Arzan 6 months to complete.

“In the current work scenario where everyone seems to be competing, meeting goals, pushing for deadlines, and in the process losing themselves, this sculpture is about giving the mind a vacation, so the soul can wander,” explains Arzan Khambatta, about his work of art.

“In the most stressful of situations, if the mind is open, if you let it breathe, life becomes better and miracles happen. The sculpture aims to bring about a calming, soothing & relaxing feeling to those who view it,” adds Arzan Khambatta.