Business Wire India - Multimedia: Digest for May 24, 2023

Business Wire India - Multimedia Multimedia By Business Wire India

Table of Contents Minfy Again Wins AWS Consulting Partner of the Year for 2022 Venture Catalysts ++ - the House of Unicorns, Soonicorns Delivers 54 Startups Above USD 50mn in 7 Years BitcoinCash22 Conference - a Major Success

Minfy Again Wins AWS Consulting Partner of the Year for 2022 Tuesday 15 November 2022 06:46 AM UTC+00 Business Wire India At the AWS Partner Summit event held in Bangalore recently, it was announced that Minfy has won the prestigious AWS Consulting Partner of the Year 2022 Award - the top honour of the event. This was the second time coming as Minfy won the same award in 2020.   "On behalf of all Minfinites, we take this opportunity to thank each of our customers for making Minfy an integral part of their digital transformation journey. We deeply appreciate AWS for recognising Minfy's contribution and commitment to leveraging the breadth and depth of AWS cloud services to make our joint customers successful. This award would not have been possible without the commitment and devotion shown by every Minfinite who went out of their way especially during the pandemic to deliver beyond customer expectations. Our purpose and culture are the cornerstones of our continued progress and success," said Vikram Manchanda, CEO of Minfy Technologies.   "Minfy has transitioned from being a born-in-the-cloud company to a cloud-native systems integrator that is on a bionic journey to build a better world for customers, employees, and partners. We've built our business using the AWS ecosystem, hired great talent, structured our practices to include Migrations, Modernisation, Managed Services, DeepTech, and innovative solutions to solve the customers' biggest challenges whilst creating new opportunities. In doing so, we will stay true to our purpose of building a symbiotic relationship between humans and the future of tech."   The past year has been an exciting time at Minfy, with the business doubling in size, solution launches, headcount, new markets and bringing in core leadership talent. The team size is now approaching 450 people with hybrid delivery centers in Hubli and Hyderabad in India and in country customer success teams. This year Minfy has invested in and sharpened its focus on key verticals including Financial Services, Healthcare & Life Sciences, Manufacturing, Energy and Sustainability.   Minfy's has continuously invested into new geographies including ASEAN, Australia and the US and have set up in-country sales, presales, alliance and customer success teams under senior country leaders.   "This award renews our commitment to Minfy's and AWS' shared mission of enabling customers to build a better India. We are a born in India organisation and we believe this is India's century. With our strong partnership with AWS and ability to harness the strong cloud talent in India, we are on the right trajectory to be able to make a strong contribution in all our markets, especially in this current turbulent environment," concluded Vikram Manchanda.

Venture Catalysts ++ - the House of Unicorns, Soonicorns Delivers 54 Startups Above USD 50mn in 7 Years Tuesday 15 November 2022 07:39 AM UTC+00 Business Wire India Venture Catalysts Group (Vcats++), India's first integrated incubator and a full-stack investor for early to growth stage startups, has announced that about 54 of its portfolio startups have crossed $50 million valuation this year. Despite challenging times that led to a 70% decline in funding this year, Venture Catalysts grew substantially, housing more than 33 soonicorns and over 100 minicorns. The individual valuations of atleast two dozen companies have crossed $100 million with and about three startups — Shiprocket, BharatPe and Vendantu have attained Unicorn status in the last one year.   Venture Catalaysts Group or Vcats ++ is an early-to-growth stage fund that includes five funds ranging from early stage to sector focused. The company had first launched its $150 million accelerator fund in 2020 post which it has launched four more including - Venture Catalysts Angel Fund, a $200 million fintech focused fund called Beams, proptech fund Spyre, and $200 million growth stage sector agnostic fund Elev8. The group has a combined portfolio of over 300 startups whose consolidated valuation is pegged at around $10 billion thus making it the country's largest early to growth stage investing platform.   "The valuations assumes importance at a time when the fears around a possible funding winter continues to spook investors and startups not only in India but worldwide too. It talks volumes about the growth and up-rounds of the portfolio companies. Most of our portfolios have done extremely well in the last two years and we see atleast 3-4 turning Unicorns next year," said Dr Apoorva Ranjan Sharma, Cofounder Venture Catalysts Group.   The company, which has three other cofounders — Anil Jain, Anuj Golecha and Gaurav Jain, also aims to close 100 exits and up-rounds by the calendar year 2022. Venture Catalysts has invested in 301 deals across 200 startups since the time of its inception, making it India's leading early-stage investing platform. Venture Catalysts is more than an investment firm and it believes in the strong mentorship program and timely guidance it provides to its portfolio that has helped those raise up rounds at higher valuations and helping the startups with meaningful connects they need in their growth stage.   Talking about the support Venture Catalysts has provided, Somdutta Singh, Founder and CEO, Assiduus Global, said "Finding a good mentor is the 'secret sauce' to a startup's success, and 9Unicorns, and VCAT have been the guiding force for Assiduus Global. We received support and resources from 9Uniconrn to boost our growth. When properly equipped, we have been able to take Assiduus to establish our presence in our sector across the globe. We were able to take off effortlessly and rapidly in the real world because of the mentorship, financial prospects, potential commercial opportunities, industry networking, and access to a global network for all-around support."   Venture Catalysts has driven early-stage investments worth $100 million (INR 782.4 crore approximately) through its network. Across 67 startups, 94 deals were executed, out of which, 27 deals gave partial or full exits, while the remaining witnessed up-rounds. Corresponding to 17 deals, 13 startups have been written off due to the failure to recover assets, or given less than 1x return.   The integrated incubator has invested in startups with significant value propositions, investing in pre-seed, seed and Series A rounds, following up with support for its portfolio in subsequent rounds. Some of the biggest companies included in its portfolio are BharatPe, Vedantu, Zingbus, Beardo, SuprDaily, Innov8, Home Capital, BlowHorn, amongst others. Not only has Venture Catalysts supported the startups right from the latter's formative stage and helped those manoeuvre through the growth stage, it has also democratised the startup ecosystem in country. With over 3000 angel investors present across 55 cities, Venture Catalysts has the largest network in the country where it has helped create awareness about the startup investments through its well planned masterclasses and tailor-made startup programmes.   Reflecting on the growth of the venture capital industry, Dr Sharma added, "The uprise of startups in India has set a new benchmark for entrepreneurship all across the world. Venture Catalysts have taken preemptive measures to create a diverse, holistic portfolio of companies with a high-growth potential, leveraging capital, mentoring and our network of HNIs, Family Offices, CXOs and more. Our aim is to democratise the entrepreneurial ecosystem, enabling more investors to explore higher return asset classes to achieve profitable returns in a faster turnaround time. As a by-product of these initiatives, we have also contributed to the wealth creation and job creation in the country."

BitcoinCash22 Conference - a Major Success Tuesday 15 November 2022 11:50 AM UTC+00 Business Wire India BitcoinCash 22 - which recently took place in St Kitts on Nov 12th was a roaring success.    With attendees coming in from over 35 countries some major announcements were made at the conference. In the panel of legal tender, The Prime Minister of St Kitts and Nevis Hon. Dr Terrance Drew announced that the country will make BitcoinCash Legal tender by March 2023. Also present was Member of Parliament from St Maarten Hon. Rolando Brison his cabinet was already in talks for the same.  The other major announcement was made by Zapit Wallet of India that BitcoinCash can now be used to pay across all UPI accepting 60 million merchants, 20 million websites and 200 million online users which is a major breakthrough for BitcoinCash bcos so far no crypto has got such wide usage as a utility.  Roger Ver, founder of Bitcoin.com along with Les Khan - the head of citizenship by investment unit and developer John Zuliani addressed how easy it is now to get a passport with crypto and the benefits of having a second passport such as zero income tax and zero capital gains.  John Neiri from General protocols also talked about the feature "any hedge" in which the wallets can now secure the bch prices hedged for merchants who don't want to risk the volatile nature of the coin.  The main organizer of the event Sunny Gehani also spoke on the panel with Roger Ver on how they met and since then the merchant adoption has been on the take-off with over 500 merchants in the Caribbean and other corners of the world on-boarded for bch. The co-sponsors of the events Go Crypto announced that there will be lots of go crypto terminals in the Caribbean soon where merchants will have option to accept crypto and save it as crypto or convert it to fiat at the time of acceptance.   Founder of Global Link international Sunny Gehani and the event organizer has assisted more than 100 clients to acquire second Citizenship from St Kitts and Nevis had organized a farewell brunch for all attendees at the St Kitts Marriott Resort.    The merchants' adoption panels had panelists from Australia, Argentina, and the United States. The conference gave all the attendees a chance to have a Q & A with panelists and a one-on-one meeting at the Beach Dinner Hosted at one of the finest restaurants in St Kitts.    St Kitts and Nevis has one of the biggest crypto adoption per capita with nearly 200 merchants and 4 ATMs across with a total population of around 50000 people.    It was a great Caribbean experience for attendees who had traveled all over from Australia, Japan, India, Brazil, Canada, US, Argentina, Canada, Norway, Germany, Taiwan, Hong Kong, and many more countries.   The event was live-streamed and is available to watch on the following link :  https://youtu.be/1W0-N_0K6jQ  To acquire second citizenship in less than 90 days or to get more details, please contact: Sunny Gehani, +16462178512, Sales@globallink.international

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