WinZO Games Concludes Third Round Of “ESOP Liquidation”

* Approximately 25 percent of the total workforce, comprising team members with a minimum of two years of tenure, will be eligible to benefit from the ESOP Liquidation program 

Online gaming startup, WinZO, announced its third round of ESOP liquidation, providing an opportunity for eligible team members to partially liquidate their vested ESOPs. WinZO executed its first and second ESOP liquidation programs for its current and former teams in 2021, amidst the tumultuous times of COVID-19 pandemic.  

WinZO's recent ESOP liquidation exercise is a testament to the company's commitment to recognize and reward the exceptional efforts of its team members. This liquidation exercise is available for everyone who has served a minimum of two years with the company, encompassing approximately 25 percent of its current workforce, including all the early team members.  

The announcement of ESOP liquidation comes amid tough market conditions and funding winters and demonstrates WinZO's unwavering belief in its business growth. Notably, WinZO successfully carried out this ESOP liquidation exercise using the company's existing cash reserves, without relying on any new external funding sources. In addition, WinZO achieved a significant milestone in 2021 by providing Hike, one of its early investors, with a complete exit, resulting in an impressive four-fold return on their investment within two years. This accomplishment can be attributed to WinZO's steadfast commitment to building a sustainable business model with positive unit economics as its guiding principle. 

WinZO stands out in the Indian startup ecosystem by accomplishing an extraordinary feat of three rounds of ESOP liquidation in less than five years since its establishment. Founded in 2018, WinZO has been experiencing exponential growth, and has emerged as a clear market leader. With one of the leanest teams in the country, WinZO has created a product that boasts a user base of over 130 million registered users and facilitates more than four billion monthly micro transactions. 

“Over the last 12 months, our business has grown at a velocity that has helped us cross an inflexion point to build a truly remarkable enterprise in the field of gaming & entertainment. As any pure technology company should be, we consider our team and our people the biggest asset of WinZO. In light of the past and what the future holds, we have conducted our third ESOP liquidation event as an expression to share the value that the team has built so far, and buckle up to go for much bigger goals. Achieving this feat, especially, in such a macroeconomic environment where the startup ecosystem is experiencing a 'funding winter' with lofty valuations being reset, is a testimony of our strong business fundamentals and disciplined-approach towards venture building. It's also reflective of the massive potential we are going to unlock over coming years to emerge as one of the most remarkable consumer tech companies in the world,” Paavan Nanda and Saumya Singh Rathore, co-founder of WinZO said in a joint statement. 

WinZO's commitment to its team goes beyond the ESOP Liquidation program, encompassing recognition, education, career opportunities, mental health support, and more. The company's people-centric initiatives have been recognized through its inclusion as a Great Place to Work certification in 2022. Alongside competitive compensation packages on a global scale, WinZO offers a lucrative Scholarship Policy that empowers its team to pursue fully funded higher education at prestigious universities worldwide. Moreover, WinZO has proactively reached out to companies that were facing economic constraints and considering downsizing their teams. The company has established an internal task force dedicated to connecting with the Human Resources teams of affected companies and facilitating placements within WinZO. WinZO's focus on the mental well-being of its team members is also evident through its partnership with Amaha, a renowned mental health consultation platform. This partnership highlights the company's dedication to supporting the mental health needs of its people.  

WinZO has secured a cumulative funding of $100 million through multiple funding rounds, with investments from various notable entities including Griffin Gaming Partners based in California, gaming funds like Maker's Fund and Courtside Ventures, and India-based VC Kalaari Capital. The Indian gaming industry presents a significant opportunity, estimated at $10 billion, over the next five years.  

Toyota Kirloskar Motor’s 'ABCD Sanitation Program' To Continue Empowering Communities In Rural Karnataka

* Aims to bring about a behavioural change among students, teachers, and communities

* Strives to create awareness on sanitation practices through training and demonstration

* Focus on enhancing the overall health and well-being of families in the districts through the program

After the successful implementation of its flagship initiative, the ‘A Behavioural Change Demonstration’ [ABCD] Sanitation Program in Ramanagara District, Toyota Kirloskar Motor (TKM) today announced that its ABCD sanitation program is planned to be launched in the aspirational district of Raichur, with the primary objective to maximize reach to the marginalized communities and location where it is needed most. In addition to further sustaining the ABCD program in Ramanagara district, a one-year ABCD refresher program is planned to be  introduced covering schools in three phases.

India, being the most populated country in the world, faces a significant need for improved sanitation facilities for its citizens, for which programs like the "Swachh Bharat Abhiyan" have been launched by the government. The ABCD Program by TKM was first introduced in 2015 and successfully implemented in 1004 Government schools in Ramanagara District until 2020 covering over 58,000 children. The implementation of the ABCD Program has yielded significant success, particularly in empowering students and fostering a behavioural change towards sanitation. The program also emphasized the importance of hygiene and a deeper understanding of its benefits to health of the individual. These students have now become ambassadors, actively promoting, and ensuring the adoption of hygiene practices in their schools and communities.

Speaking on the occasion, Mr. Vikram Gulati, Country Head & Executive Vice President, Corporate Affairs and Governance, Toyota Kirloskar Motor said “The impact that the ABCD Sanitation Program has had on the community and its effectiveness in empowering students and fostering a mindset change, has been truly inspiring. We are honoured by the widespread recognition and appreciation that this program has received from key stakeholders including the community and the government. Encouraged by this success, we are highly motivated to extend the program further where it is needed the most and create a lasting and positive difference in the lives of people. Through this initiative, we aim to bring about a significant behavioural shift towards better sanitation practices, not just within schools, but also in homes and communities.”

The ABCD Refresher Program in Ramanagara will be aimed towards fostering a behavioural change by motivating students, teachers, and communities to maintain clean and hygienic school washrooms. The program aims to promote sanitation awareness covering  approximately 1350 schools in three phases. In the first phase 250 schools and 15,000 students will be covered and the remaining schools will be covered in the next two phases. In Raichur, the ABCD Program is planned to cover over 1600 schools in four phases. In the first phase it will cover 100 Government schools and approximately 10,000 students focusing on training, enhance sanitation awareness and sustenance and the remaining schools will be covered in the subsequent three phases

TKM remains steadfast in its commitment to corporate social responsibility and community development. The company will work closely with the Education Department, local authorities, and stakeholders to create a sustainable impact and drive positive change in the district.

Boult Taps Into ONDC With Their Shipping Partner, Heralds ONDC ‘The Future Of Online Shopping’

*   Boult enters ONDC (Open Network for Digital Commerce) with Shiprocket  

*  ONDC is a unique platform which connects all buyers and sellers through a single platform 

*   ONDC offers value-added services, including logistics and payment solutions, to streamline operations and reduce costs 

Boult, India’s second-largest company in audio, selling products every 5 seconds and the fastest emerging smartwatch player, associates with India’s biggest e-commerce landscape ONDC (Open Network for Digital Commerce) through their partner Shiprocket. The company has hailed ONDC as the future of online shopping and is focussing to be part of this government-backed innovative revolution in the space of e-commerce in multivariate ways. With an exemplary 100% year-on-year growth trajectory since its inception, Boult is adept at gauging the inclination of the market and establishing itself in that direction. ONDC is paving the path for inroads to connect buyers, sellers, and service providers across the country for a more transparent, efficient, and secure buying and selling experience and comprises over 35,000 sellers and 38 lakhs+ products currently.  

Speaking about this initiative, Varun Gupta, Co-Founder & CEO, Boult, said, “We are thrilled to participate in the ONDC (Open Network for Digital Commerce) initiative, an extraordinary platform that revolutionises the way brands connect with consumers across the country. ONDC, often referred to as the 'UPI of e-commerce,' is a game-changer that makes the markets accessible for brands, empowering them to reach new horizons and expand their consumer base. At Boult, we wholeheartedly support this government-run initiative, and our participation exemplifies our commitment to promoting and embracing such initiatives. By actively participating in ONDC alongside our preferred vendor, Shiprocket, Boult is not only strengthening our supply chain and logistics operations but also actively promoting this initiative.” 

With 14 crore e-retail shoppers in 2020, India acquired the third-largest online shopper base globally with only China and USA ahead. And, through ONDC, the government is fostering an inclusive ecosystem for e-commerce across the country to which Boult is actively contributing. Besides this, Boult is staunchly bolstering the Make in India campaign by producing more than 90% of products domestically. Further, Boult is aiming to augment its raw material localization to 70% by the end of the year.  

“Together, we are shaping the future of commerce, enabling seamless and inclusive access to our products and services for customers nationwide. Boult proudly stands at the forefront of this transformative movement, bringing the joy of our products to every corner of the country”, added Varun Gupta, Co-Founder & CEO, Boult. 

Boult's penetration to over 99 percent of zip codes in the country and sales of over 8 million units to date is a testament to the company’s massive growth. Besides this, more than 2 million verified customer ratings with over 4 stars on leading e-commerce portals showcases the brand as a giant in the industry.  

About Boult Audio

We are a young company incepted in June 2017 to make a difference in the way our consumers experience sound in their everyday lives. This passion for creating exceptional experiences has led us to become one of the top 3 audio brands in India, which is selling a headphone every 08 seconds. At Boult Audio, we dream big and want to grow beyond borders to every audiophile globally and reach out to over 100 million customers by 2026.

Georgia Embassy’s Flagship Education Fair Organized In Bengaluru Eyed Inflated Demand From Indian Medical Students

* The second edition of the Georgia Education Fair organized in Bengaluru focused on providing holistic information on medical and technology courses including MBBS, Dentistry, Data Science, Artificial Intelligence, and many among others.

The Embassy of Georgia, to accelerate the study abroad journey of Indian students, organized one of the largest foreign education fairs in Bengaluru at the Chancery Pavilion. This was the second edition of the flagship event that focused on providing strategic support to Indian students to study medical and non-medical courses at Georgian University and institutions.

The event was organized in Bengalure, followed by Chennai. It was attended by over

1000 12th grade pass students belonging to medical and science backgrounds. Around 11 universities from Georgia featured their course offerings along with providing on-the-spot admission consultation and scholarship benefits to students.

The fair witnessed the presence of many renowned professor to uplift the spirit of aspiring students. Dr. Ashwath Narayan C N, MLA, Malleshwaram, Former Deputy Chief Minister of Karnataka, Ex-Minister for Higher Education; Electronics, IT-BT, S&T; Skill Development, Entrepreneurship & Livelihood, Government of Karnataka, was present there as chief guest.

Commenting on the announcement, Mr. Archil Dzuliashvili,  the Ambassador of Georgia said, “We have got a tremendous response this time that even exceeded our expectations. The day-long fair served Indian students coming from different cities with an abundance of information. Our counselors from participating universities provided a holistic understanding of the courses and were instrumental in defining the study abroad roadmap for students.”

The education fair included the participation of over 11 Georgian Universities including Alte University, Caucasus International University, David Tvildiani Medical University, Caucasus University, East European University, European University, Georgian American University, Georgian National University SEU, Kutaisi University, Teaching University Geomedi, and the University of Georgia.

Georgia Education Fair worked as a one-stop go-to platform for students seeking to receive in-depth information about the courses of their interest. It curated exclusive opportunities for both Medical & Non-Medical streams to simplify the journey of pursuing higher education at leading universities of Georgia. 

The most sought-after courses by Indian students at the fair included MBBS, Dentistry, Computer Science, Undergraduate Medical Doctor Program (MD), BBA, and other courses related to Medicine, Pharmacy, Nursing and IT (Information Technology), Data Science, and Artificial Intelligence.

In its exclusive Admission Fair & Workshop, the Georgia Education Fair provided the students with an opportunity to interact in person with university representatives to build an enduring relationship with them. The event also provided comprehensive details on admission guidelines, courses, internship opportunities, eligibility criteria, scholarships, and fee structure.

Georgia boasts world-class universities with high-quality education and advanced teaching patterns. It offers student-friendly Georgian culture, lifestyle, and standard of living with great affordability.

Currently, more than 20,000 Indian students study in Georgia and the number is continuing to increase at an unprecedented pace. The safe and conducive environment for students has made Georgia one of the favorite overseas study destinations.  

Urban Company Releases Annual ESG Report, Demonstrating Strides In Social Mobility For Service Partners

-          INR 72 crores invested in training and upskilling 29,000 partners

-          Top 20% of service partners earned over INR 38,000 in net monthly earnings

-          Disbursed stock options worth INR 5.3 crore to ~500 partners as part of the Partner Stock Option Plan initiative towards wealth creation commitment

-          Saved 146M units of energy through AC servicing and prevented 1.2B CO2e GHG emissions through appliance repair services

Urban Company, Asia’s largest home services marketplace, has released its annual Environmental, Social, and Governance (ESG) India Report which highlights the impact of their social and environment efforts while showcasing a responsibly governed organisation. As part of the company’s mission to foster upward social mobility for over 50,000 service partners, benefiting 1.25 crore households, the report provides a comprehensive overview of Urban Company's initiatives across five key areas. The report highlights how the company is working towards creating a ‘Win-win’ marketplace for all stakeholders by giving them the opportunity to unlock what they deserve and focusing on holistic value creation for the ecosystem.

People: The report highlights progress made on the partner enablement pillars of improved earnings & wealth creation, security & well-being benefits, and training & skilling. The company’s commitment to training and upskilling partners is reflected in the INR 72 crore investment in these efforts during 2022. The top 20% of Urban Company service partners earned a net monthly earnings of INR 38,000, which is 3.16x of the minimum wage in Delhi (highest in the country), while the monthly net earnings of partners with >30 jobs was INR 30,625. Under its Security and Well-being benefits program, the company disbursed close to INR 39 crores worth of loans through tie-ups with non-banking financial institutions and INR 2.3 crores as insurance claims.

Product: From offering a range of features that unlock convenience for customers to creating a pocket workplace for service partners, Urban Company has created a win-win tech platform. The Urban Company Partner app, which is available in 9 regional languages, empowers service partners by giving them 24x7 access to income tracking, insurance claims, access to credit, 24X7 SOS helpline and more.

Planet: Urban Company's commitment to environmental stewardship is exemplified in its efforts to empower customers in reducing their carbon footprint. Through its Home Repairs & Maintenance vertical, the company helped save 146 million units of energy through AC servicing and prevented over 25 lac units of durable goods from ending up in landfills, which in turn, prevented 121+ crores of CO2e GHG emissions.

UC Impact: Through extensive surveys of approximately 4,500 service partners, Urban Company has validated the significant effect the platform has had on their lives. The survey findings illustrate how they are driving decent work and economic growth and reducing inequalities. All the service partners surveyed earn almost at par irrespective of gender, geographical location and educational qualifications. The survey found that in West and Central India, female service partners earn almost 15% higher than men. With respect to training and skilling, 84% partners reported being satisfied with Urban Company’s training and another 83% partners mentioned they witnessed an increase in dignity in society. Aspire Impact Ratings Pvt. Ltd., an impact assessment firm also provided us with a Gold leaf certification after assessing our ESG efforts in 2022. The report underscores the significant contributions to job creation, economic growth, and the reduction of inequalities.

Abhiraj Singh Bhal, Co-founder and CEO Urban Company said, “Our annual ESG report is a testament to our unwavering commitment to upward social mobility for our service partners and in line with our core value of ‘win-win’ where we focus on value creation for the ecosystem as a whole. We are proud to have made significant progress in this area, as highlighted in the report. We have also made a significant impact on the planet by becoming one of the few companies to empower customers in reducing their carbon footprint. These milestones reinforce our dedication to creating a positive impact and empowering our service partners to reach new heights. Our ESG report showcases our commitment to fairness, meritocracy, and empowering every member of our community to unlock the opportunities they deserve.”

Urban Company recognizes the importance of integrating sustainable practices into its core business strategy, driven by a strong sense of responsibility towards stakeholders and the environment. The company has adopted five goals from the United Nations Sustainable Development Goals -- Good health and well-being, Gender equality, Decent work and economic growth, Reduced inequalities and Responsible consumption and production. The ESG report serves as a roadmap for future initiatives, setting ambitious targets and providing a benchmark for measuring progress on the company’s sustainability journey.

The Urban Company ESG Report 2023 is now available on the company’s website. 

About Urban Company:

Vision: Empower millions of professionals worldwide to deliver services at home like never experienced before.

Founded in November 2014, Urban Company is Asia’s largest technology marketplace for home services. The company offers services such as beauty and spa at home, cleaning, plumbing, carpentry, appliance repair, painting, etc. through its mobile app and website. It operates in 50+ cities in India, the UAE, Singapore and The Kingdom of Saudi Arabia. It has a partner network of over 50,000 hand-picked service professionals transforming them into organised and high-quality micro-entrepreneurs. This full-stack approach helps the company live up to its promise of delivering high-quality, delightful services at home.

Pooja Duggal Has Joined Zee Media Corporation As Head Human Resources For ZMC

Pooja has over 16 years of varied industry experience revolving around designing and execution of people strategy and solution to help business realise its overall objectives. Her last assignment was with HT Digital streams as Head - HR for the digital business.

Prior to her tenure at HT Media, Pooja was the HR Head of Raychem RPG Pvt. Ltd. for almost five years. She has also worked at Jindal Steel in the past, where she held the position of Senior Manager, Global HR.

Pooja has an MBA in Human Resources and Finance from NMIMS, Mumbai and Bachelor of Information Systems (H) from GGS Indrasprastha, Delhi.

Abhay Ojha– CEO, ZMCL, said “We are excited to have Pooja Duggal come on board with her expertise in the Human Resource domain. We look forward to collaboratively drive growth for the organization and take it to greater heights with each passing day”

Speaking of joining Zee media Pooja Duggal said, “It is an incredible opportunity to make a lasting impact on the organization's greatest asset—its people. I am thrilled to take on this role and work alongside a team of talented individuals to foster a culture of growth, collaboration, and employee development. Together, we aim to create a workforce that is empowered, engaged, and equipped to drive innovation and achieve exceptional results.

About Zee Media corporation limited: Zee Media Corporation Limited (formerly Zee News Ltd.) is India's one of the largest News Network with 14 news channels in 8 different languages touching more than 300 Million viewers and digital properties like Zeenews.com, dnaindia.com, india.com and others.

Amazing Range Of Google TVs From Acer Launched In India. The New Range Includes Affordable QLEDs And OLEDs

Indkal Technologies, today announced the launch of the new Google TVÔ lineup from Acer  in India through a mega event in New Delhi where it revealed a wide product range across screen sizes, display technologies, and price segments. Among the products announced, the flagship O series with an OLED display and a 60-watt speaker system with large woofers really caught the eye. The OLEDs will be launched in two sizes, a 55-inch, and a 65-inch variant.

Among other eye-catching products, the launch also included a revolutionary affordable QLED range under the V series which will allow customers to enjoy an advanced QLED display at an affordable price which has generally remained at inaccessible price points to the masses in India. The pleasant surprise was the availability of a 32-inch entry QLED variant along with the regular 43-inch, 50-inch, and 55-inch variants.

The other products launched were the I  and G series value segment products, which with the addition of some top-of-the-line features such as MEMC, Dolby Atmos and Vision, and UHD Upscaling, along with high-end brightness and contrast really compete with the premium products in other brands. However, the big highlight was the 16 GB internal memory on the 32-inch and the 40-inch variant of the I series models which is industry-leading and not yet seen in these sizes in any other brand.

Another refreshing aspect of the launch was the improved sound across all product ranges, with the I series sporting a new audio system with 30-watt speakers in 32-inch and 40-inch models; and 36-watt and 40-watt speakers in UHD models in sizes 43-inch, 50-inch, 55 inch, 65 inch and 75 inch.

The most significant improvement in the sound, however, was made to the flagship sound series, Acer’s popular H series range, which now has a 76-watt speaker system with improved bass and treble and a more immersive audio setup.

Google TV is also now available on the existing range of premium QLEDs, the W series, with the unique Anti-Glare Display, Wallpaper Design, Aural Sound, and Motion Sensors.

The entire new Google TV range from Acer features dual-band WiFi and 2-way Bluetooth 5.0, with HDMI 2.1 ports and USB 3.0, and Dolby Atmos as a major value addition to all UHD models across all six series. Indkal announced different timelines for the availability of the products at retail, with the I series becoming live for sale across channels on 6th June.

ABOUT GOOGLE TV

Google TV is the name of this device's software experience and a trademark of Google LLC.

ABOUT THE ACER BRAND 

Established in 1987, the Acer brand empowers people with the technology to make their mark and the freedom to live their desired lifestyle. Acer-branded products strive to make technology accessible to everyone.  

ABOUT INDKAL 

Indkal Technologies Private Limited is a technology and innovation company based out of Bengaluru. Indkal excels in delivering high-quality and revolutionary products across a wide spectrum of consumer electronics appliances and products. Founded in the year 2020, the company’s mission is to provide prudent, high-quality, and contemporary products to the growing Indian consumer market.