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Business Wire India - Multimedia: Digest for January 18, 2024

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Moneycontrol, India's leading financial news and investment platform, has partnered with hBits to transform the landscape of commercial real estate investment through fractional ownership and make it more accessible to a wider audience. This collaboration seeks to democratize access to Grade A commercial real estate properties, enabling potential investors to participate in fractional ownership through Moneycontrol's platform.
 
Moneycontrol, a trusted name in the financial sector boasting 75 million investors, offers an innovative investment service. The partnership introduces a dedicated 'Invest Now' tab on the Moneycontrol platform, providing a convenient gateway for potential investors to explore and engage in fractional ownership of commercial real estate. This feature will provide Moneycontrol users with an intuitive and easy-to-use interface to browse and invest in Grade A commercial properties curated by hBits, further enhancing the platform's utility as a comprehensive financial resource.
 
hBits, founded in 2018, has established itself as a pioneer in fractional ownership, offering fractional ownership in Grade A commercial properties. A concept providing lucrative investment opportunities that were previously inaccessible to the everyday investors. Their approach combines trust, transparency, and accessibility, ensuring that real estate investment is no longer the preserve of ultra-high-net-worth individuals and institutions.
 
hBits has assets under management worth ~ Rs. 260 Crore and has amassed a significant user base of over 60,000 registered users. Its leadership team, with over 100 years of cumulative experience in real estate and finance, includes notable figures such as Shiv Parekh, the founder and CEO, and Samir Bhandari, the co-founder and CFO, both of whom have impressive backgrounds in global finance and real estate sectors.
 
This integration aligns with recent regulatory changes by the Securities and Exchange Board of India (SEBI), supporting fractional and small-medium Real Estate Investment Trusts (REITs). These legal changes are likely to encourage investment and liquidity in the real estate sector, offering an ideal environment for such an innovative collaboration. This strategic alliance signifies a pivotal move for both organizations as hBits gains access to the extensive reach and user base of Moneycontrol, while Moneycontrol expands its offerings, giving users distinctive real estate investment alternatives. This collaboration is poised to open doors to more inclusive and diversified investment avenues for retail investors, marking a significant step towards democratizing access to high-value investment opportunities in commercial real estate market.

Gaurang Shah, Chief Revenue Officer, Moneycontrol said, "We are thrilled to announce our strategic partnership with hBits, marking a significant leap in the democratization of real estate investments. The joint platform is set to revolutionize the way people engage with commercial real estate, making fractional investments more accessible than ever before. At Moneycontrol, our commitment has always been to empower investors with innovative solutions, and this collaboration aligns perfectly with that vision. Through this platform, we aim to provide our users with a seamless and user-friendly experience, allowing them to participate in the lucrative commercial real estate sector with ease. Together with hBits, we look forward to opening new doors for investors, enabling them to diversify their portfolios and achieve their financial goals."
 
"We are thrilled to announce our partnership with Moneycontrol, marking a significant milestone in our quest to make commercial real estate investment more accessible to everyone. This collaboration is a game-changer, as it allows us to introduce the concept of fractional ownership of top-tier commercial properties to a broader audience. With Moneycontrol's extensive network, we're poised to revolutionize the way people invest in real estate. Our combined efforts will open the doors to premium real estate investments, making them not only accessible but also affordable for everyday investors," expressed Shiv Parekh, CEO of hBits.

This partnership between Moneycontrol and hBits is poised to pave the way for more inclusive and diversified investment avenues for retail investors, democratizing access to Grade A investment opportunities in the real estate market.

To know more visit - https://www.moneycontrol.com/msite/hbits/
Business Wire India

  • Reports Integration with 23+ wallets in the last 8 months; set to transform Web3 payments ecosystem
  • Aims to be the go-to web3 payments stack
​
​Fetcch, a Web3 payments and digital rewards infrastructure platform, announced that it has raised USD 1.5M in pre-seed funding, led by AppWorks Venture and Hashkey Capital with participation from LD Capital, Compute Ventures, M6 and GravityX Capital, NGC.
 
Fetcch provides a seamless infrastructure for digital payments and rewards platforms especially for the Web3 payments ecosystem with a particular focus on cross-chain payments. The startup has integrated with 23+ wallets clocking daily transaction volumes reaching $35K through the Fetcch platform. Fetcch will use the fresh capital to focus on product development and expand in the Web3 sector while simultaneously building for Web2.5 use cases.
 
Founded in May 2023 by Mandar Dange and Satyam Kulkarni, Fetcch is an infrastructure platform for digital payments and rewards that is looking to leverage the power of blockchain by enabling seamless real-time settlements for users. Fetcch's product for enterprises, Deposit Guardrails, is an API/SDK that provides secure and easy deposit functions to institutional platforms like Over the Counter Market (OTCs), market makers, exchanges etc. Furthermore, Fetcch has introduced unified identity to seamlessly facilitate cross-chain, peer-to-peer (P2P), and business-to-consumer (B2C) payments. By integrating with cross-chain solutions like LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink, Fetcch efficiently manages backend settlements, eliminating users' need to navigate the intricacies of cross-chain interactions.
 
Fetcch pioneers the capability of pull payments in Web3, enabling conveniences like recurring payments that don't require the payer's initiation. To streamline the whole payments process, Fetcch is creating a network of wallets, decentralised applications (DApps), merchants, and identities to revolutionise the Web3 ecosystem eventually catering to Web2 businesses.
 
For Web3 users today to transfer/receive funds, it is imperative that they select the correct blockchain and wallet address. It is also necessary for the receiver to choose the right blockchain to see the transaction amount. In this multi-chain world, individuals may have different addresses on various blockchains. Hence, cross-chain payments pose significant challenges in user experience. Fetcch aims to address these challenges by providing a payments connectivity network that simplifies the complexities of the blockchain payment experience. With Fetcch, users can create custom-branded, interoperable, and chain-agnostic identities. Fetcch enables the consolidation of cross-chain identities and addresses into a unified and wallet-branded ID, such as Bob@metamask. Now, users can send any tokens without worrying about choosing the right blockchain and address. They can now create a human-readable identity and complete a transaction with a single sign.

The global Web3 market was valued at USD 2.25 billion in 2023 and is expected to grow at a CAGR of 47.1% from 2023 to 2030, reaching an estimated USD 33.53 billion by 2030, according to a report by Grand View Research. The Web3 payments market is expected to reach USD 32.4 billion by 2032, growing at a CAGR of 69.4% from 2023 to 2032, as per a study by Market Research Future.
 
The Q3 2023 Messari State of Web3 report estimates the total number of active Web3 wallets across various providers to be above 90 million. Cross-chain transactions in the Web3 space have been prone to significant security vulnerabilities, leading to substantial financial losses. In 2022, cross-chain bridge security incidents caused a staggering total loss of approximately $1.89 billion. This figure represented the highest loss of any project type within the Web3 ecosystem. This is where Fetcch steps in with their Web3 payments stack that allows users to request cryptocurrency from the users wallet address to another by a secure link and a unified identity.
 
Supporting Quotes

Mandar Denge, CEO and Co-founder, Fetcch
"We are thrilled to partner with Apppworks, Hashkey, LD Capital, Compute Ventures, M6 and GravityX Capital. Their support during a bear market reinforces our conviction in what we are building at Fetcch. We see a huge opportunity in the payments and loyalty rewards ecosystem and are excited to bridge the gap in the ecosystem. Envisioning a future where Web2 tech businesses will use blockchain at the backend, this funding will enable us to expand our engineering and research team to accelerate the development of cutting-edge payment solutions that empower individuals and businesses to engage in seamless and secure transactions on the blockchain."
 
Stanley Wu, Investing Partner, Hashkey Capital
"The Fetcch team has strong execution capabilities and has achieved exciting progress in both product development and customer integration over the past few months. HashKey Capital is bullish on Web3 payments will support the company in improving crypto payments products, creating a next-level user experience that can be conducive to mass adoption."
 
Bill Hsu, Investing Partner, AppWorks Venture
"We believe that Fetcch is at the forefront of Web3 payments innovation. Their vision aligns perfectly with the rapidly evolving blockchain landscape, and we're excited to support their journey towards reshaping the digital payment industry."

Lufthansa Launches Direct Flights from Hyderabad to Frankfurt

Wednesday 17 January 2024 07:05 AM UTC+00
Business Wire India

  • India is the fastest growing major market for Lufthansa post pandemic
  • State-of-the-art travel experience aboard new 787 Dreamliner aircraft
  • New service connecting Hyderabad to Europe begins January 17, 2024

Furthering its commitment to India and enhancing its presence on the subcontinent, Lufthansa German Airlines is pleased to announce direct services from Hyderabad, capital of the Indian state of Telangana and Frankfurt, Germany. 

Once known as the City of Pearls due to its historical significance in the pearl and diamond trade, Hyderabad has long been a hub for merchants and traders from all over the world. Today, Hyderabad is India's 4th largest city, an emerging technological, aerospace and Indian pharma hub, with a strong presence of major multinational companies including Google & Microsoft as well as Boeing & Airbus. As a growing capital city in a prosperous state, both Hyderabad and the State of Telangana have contributed to the economic success of India today. An investment hub as well as a centre for innovation, Hyderabad combines the old-world charm of its rich history with the dynamism of 21st century India.

As the leading European carrier in India, Lufthansa now operates direct connections from Germany to 5 destinations in the country with Hyderabad-Frankfurt being the latest addition to its global network. As the fastest growing major market for Lufthansa globally, capacity growth in India exceeds pre-pandemic levels. According to Mr. George Ettiyil, Senior Director - South Asia, Lufthansa Group:
 
"With our new Hyderabad-Frankfurt service we now offer Indian passengers 64 weekly flights to our hubs in Europe and onward connections to the biggest network on the European continent. As we launch Hyderabad, our capacity to India has increased by 14% (relative to 2019), making it the fastest growing major market for Lufthansa. With Bangalore-Munich and now Hyderabad-Frankfurt services, we have launched 2 new routes in the past 3 months, recognizing South India's growing relevance and demonstrating the strong overall importance of India to the Lufthansa Group."
 
With more than 700 employees in India and a 60+ year legacy in the country, Lufthansa remains committed to playing an integral role in India's continued growth story.
Business Wire India

The comprehensive trade show on the garment manufacturing & textile industry, Gartex Texprocess India is all set to kick off its 3rd Mumbai edition from 1-3 February 2024 at Jio World Convention Centre, (JWCC), Mumbai, Maharashtra. The event is anticipated to witness more than 100 exhibitors of which there are 30+ new exhibitors associated with the show. Known to be the go-to marketplace for textile buyers and sellers, this edition will feature innovations from more than 32 key product categories from the world of textiles. Featuring the co-located Denim Show, Fabrics and Trims Show and an exclusive zone on Screen Print India-Textile, the event will demonstrate the continuously evolving innovations in the textile industry.

Gartex Texprocess India – the country's go-to trade fair for the complete textile value chain that has also attracted international textile companies for years - is once again gearing up to present the innovations in textile sector from across India and the global landscape. Spread across 10000 sqm, this edition will be packed with exciting displays emphasising new-age machinery, advanced technologies and solutions, trending fabrics and raw materials. With a renewed focus on resilient supply chain processes, technological innovations and sustainable practices, this edition will showcase product brands from India like Alliance Embroidery, Balaji Sewing Machines, DCC, Geminy, Ginni International, Jaysynth, Jeanologia, Lenzing Fibres India, LNJ Denims, Mehala, Raymonds, True Colors. The show will see international participation from brands like Brother, Bruce, Jack, Pegasus, Siruba, Yumei and more from countries like Spain, Germany, Japan, Singapore, China and others.
 
The product display includes categories like Denim Fabrics, Knitting Machines, ERP Solutions, Industrial Sewing Machines, Automation Solutions for Garment manufacturing in Cutting Room, Pocket Stitching, Shirts Manufacturing & Embroidery Solutions. Latest technology in Cutting Plotters, Digital Textile Printers, Heat Transfer Machine, Denim Laser and Finishing machines,3D Transfer Labels, Printed Tapes and Elastics, Sequins Chain and loose for Hand Embroidery, Garment Accessories and Large Variety of Fashion Fabrics.
 
The much-awaited exhibition will set the stage for many business alliances and national and international collaborations to boost the sector's growth further. According to a report by FICCI-Wazir Advisors, the Indian textile and apparel market size was estimated to be around USD 165 billion in 2022, with the domestic market constituting USD 125 billion and exports contributing USD 40 billion. The market size of the industry is projected to grow at a 10% CAGR to reach USD 350 billion by 2030. With the government initiatives and growing focus of manufacturers across various textile product categories and a strong focus on circularity, India is on the roadmap to become a global textile manufacturing hub.
 
Mr Raj Manek, Executive Director and Board Member, Messe Frankfurt Asia Holdings Ltd said, "We are glad to bring the 3rd Mumbai edition of Gartex Texprocess India for national and international professionals from the garment machinery and textile manufacturing landscape. The show floor will present advanced technological products that deliver high-quality and high-speed performance machinery alongside a variety of textiles, fabrics, denims, screen print solutions, accessories and much more. The product portfolio at this edition will once again engage the buyers and sellers in the further driving the growth of this sector."

Expressing his thoughts, Mr Gaurav Juneja, Director, MEX Exhibitions Pvt Ltd said, "Gartex Texprocess India is a great opportunity for the participants to educate the industry about the new developments in the textile sphere. Besides being a platform to increase their brand presence, visibility and business, the show has continuously evolved as a platform to explore and experience diverse products and partnerships through the show. We are happy to share that this edition will present new developments in technologically advanced textile machineries, solutions in embroidery, digital printing, sewing machines as well as accessories. We urge all our exhibitors and visitors to utilize our one-stop selling and sourcing platform to engage with the textile value chain under one roof."
 
Gartex Texprocess India is jointly organised by MEX Exhibitions Pvt Ltd and Messe Frankfurt Trade Fairs India. With the continued support from the Ministry of Textiles and Denim Manufacturers Association (DMA) towards the show, it will once again lead to empowering the participating companies while benefiting the trade visitors and the complete textile value chain.

Press information and photographic material: www.gartexindia.com

Links to websites:

Facebook - www.facebook.com/GartexTexprocessIndia/
Instagram - www.instagram.com/gartexindia/
LinkedIn - https://www.linkedin.com/company/gartexindia/
Twitter - https://twitter.com/gartex_india
Business Wire India

  • The moto g34 5G will go on sale today, 12 PM onwards, on Flipkart, Motorola.in and leading retail stores across India, at an effective price starting just Rs. 9,999#(including additional exchange bonus offer of Rs. 1,000)
  • moto g34 5G comes with the Segment's fastest* 5G Performance with Snapdragon® 695 5G mobile platform and best-in-class 5G features including the segment's highest - 13 5G Bands.
  • The moto g34 5G also boasts a stunning look with a premium design featuring a Vegan Leather finish as well as a 3D acrylic glass (PMMA) finish.
  • Additionally, the device sports the latest Android™ 14, along with enhanced software features like Moto Secure for privacy, dedicated Family Space for kids, Moto Unplugged and more
  • The device will be available in two variants, namely 4GB + 128GB and 8GB + 128GB at Rs. 10,999 and Rs. 11,999 respectively
  • Consumers will also be able to get an additional Rs. 1,000 off on exchange as part of the launch offer, making the effective price of the device just Rs. 9,999 and Rs. 10,999 respectively

Motorola, India's best## 5G smartphone brand, recently added moto g34 5G, the segment's fastest* 5G performance, to its affordable g series franchise. The moto g34 5G goes on sale today, 12 PM onwards, on Flipkart, Motorola.in and leading retail stores across India, at an incredible offer price of just Rs. 9,999#. 

This smartphone disrupts the market with the segment's fastest* 5G performance powered by a Snapdragon® 695 5G octa-core processor coupled with the segment's highest - 13 5G bands, VoNR support, and up to 4 carrier aggregation. Additionally, the moto g34 5G boasts a premium, Vegan Leather Finish as well as a 3D Acrylic glass (PMMA) finish, while being one of the thinnest and the lightest devices in the segment. The smartphone also comes with various segment-leading features like the latest Android™ 14, 50MP camera system with Image Auto Enhance feature, Stereo speakers tuned with Dolby Atmos®, a 120Hz 6.5" display, plus a host of differentiated software features such as moto secure, family spaces, moto unplugged, moto connect and Ready for PC^ that make it the best* 5G smartphone in its segment.

The moto g34 5G provides users with enhanced performance through two RAM variants and ample storage, with in-built 4GB or 8GB LPDDR4X RAM expandable up to 16GB with RAM boost. Its massive 128GB UFS 2.2 Storage is expandable up to 1TB with microSD card. The moto g34 5G also comes with advanced 5G technology such as support for 13 5G Bands, VoNR, and up to 4 carrier aggregation making it the segment's best* 5G performer.

In terms of design, the smartphone stands out with its super-premium vegan leather finish in ocean green colour, as well as the 3D acrylic glass finish available in Ice blue and charcoal black colours. The smartphone measures just 7.98 mm in thickness and 179 gm in weight. Furthermore, the moto g34 5G also comes with a water repellant IP52 rating, ensuring it stays safe from spills and splashes.

The moto g34 5G boasts an advanced 50 MP main camera equipped with Quad Pixel technology and also comes with the innovative Image Auto Enhance feature that provides consumers the option to capture pictures in natural or enhanced/boosted colours. The 16 MP front camera on the moto g34 5G is one of the highest-resolution cameras in its segment.

The latest Android 14 software further adds to the high performance of the phone with personalized features, enhanced security, and health connectivity. The smartphone also comes with additional features like Moto Secure 3.0, Family Space for kids, Moto Connect, and Ready For PC (available in 8GB variant only).

In addition, the moto g34 5G features a 6.5-inch display with a dynamic 120 Hz refresh rate that automatically adjusts the type of content displayed on the screen. With a low latency 240Hz touch rate, users can experience far more responsiveness than a standard display. This immersive viewing experience is further enhanced by two large Stereo speakers tuned with Dolby Atmos® delivering multidimensional sound and studio-quality audio. The moto g34 5G's massive 5000 mAh battery charges swiftly with the TurboPower™ 20W charger, providing hours of power in minutes.

Availability:
moto g34 5G will be available in three beautiful colours: Ocean Green, Ice Blue, and Charcoal Black, featuring the limited-edition premium vegan leather design in ocean green colour and 3D Acrylic glass (PMMA) finish in Ice Blue and Charcoal black and will go on sale on Flipkart, Motorola.in and leading retail stores starting today i.e 17th January 2024, 12PM onwards.
 
Launch Price:
4GB RAM + 128GB Storage: Rs. 10,999
8GB RAM + 128GB Storage: Rs. 11,999
 
Affordability Offers~:
Additional Rs. 1,000 on exchange.
Effective Price with offer:
4GB + 128GB: Rs. 9,999
8GB + 128GB: Rs. 10,999
 
To know more about the product visit: 
https://www.flipkart.com/moto-g34-5g/p/itm38a4f74f43133?pid=MOBGUFK49KDBZUMC
 
Operator Offers:
Total Benefits worth Rs. 4,500 from Reliance Jio (Applicable on pre-paid plan of: Rs. 399)
- Cashback worth Rs. 2000
- Partner coupons worth Rs. 2500
 
To know more about the offer: https://www.jio.com/en-in/jio-motorola-fogo-5g-offer-2023

Disclaimers:
*Within the Motorola 5G smartphone portfolio in India
# Including exchange offer
~ Available in select channels
^ Moto connect and Ready for is only available in the 8GB variant
## As per Techarc Best 5G smartphone report 2023
** With RAM Boost feature. Up to 8GB of Virtual RAM

Zoomcar Rings the Bell at Nasdaq Backed by Strong Leadership

Wednesday 17 January 2024 03:25 PM UTC+00
Business Wire India

Zoomcar Holdings, Inc. (Nasdaq: ZCAR), the leading marketplace for car sharing in emerging markets rings the bell at Nasdaq. Innovative International Acquisition Corporation (NASDAQ: IOAC, or "IOAC"), formerly a Cayman Island registered blank-check special purpose acquisition company, and Zoomcar, Inc. ("Zoomcar"), an emerging market focused peer2peer car sharing company, are pleased to announce the Combined Company renamed Zoomcar Holdings, Inc. ("Zoomcar Holdings") has begun trading on NASDAQ under the ticker symbol "ZCAR" for its common stock and "ZCARW" for its publicly traded warrants.
 
In honour of the occasion, Greg Moran, CEO & Co-Founder Zoomcar, CEO Mohan Ananda, Chairman of the Board, and Madan Menon, COO, IOAC, ring the Opening Bell. Shares of Zoomcar common stock have begun trading under the symbol ZCAR on the Nasdaq Global Market platform since December 29, 2023. 
 
Zoomcar is backed by strong leaders such as Mohan Ananda, who is the Chairman and CEO of Innovative International Acquisition Corp. (IOAC), a SPAC entity that completed an IPO on the NASDAQ and raised about $230 million. He comes with over 25 years of experience in launching, leading, and growing innovative companies in various sectors, such as internet-based solutions, financial services, venture capital, and healthcare.
 
Adarsh Menon a seasoned industry leader with over 22 years of experience has also recently joined Zoomcar as President. From leading M&A to scaling multi-billion-dollar businesses, Adarsh has a strong track record in leading businesses of various life stages by building strong revenue moats, profit pools and alliances. He has built and led large high-performing, engaged and agile cross-functional teams and has mentored and groomed several industry leaders.
 
Greg Moran, CEO and Co-Founder of Zoomcar commented, "We are exceptionally happy and thrilled to have completed this long-standing effort to become a public company on Nasdaq. Zoomcar is one of the few home-grown companies that have been able to move in that direction and ultimately list on the US exchange. We thank the IOAC team particularly Mohan Ananda who is the primary sponsor of the SPAC, who is also a larger investor shareholder now in Zoomcar for partnering with us in these efforts. This marks the beginning of an important new phase in our company's growth as we embark on reaching new heights for our emerging market focused peer-to-peer car sharing platform."
 
Mohan Ananda, Chairman and CEO of IOAC, who has also been approved by IOAC shareholders as nominee to the board of directors of Zoomcar Holdings and is expected to serve as the initial Chairman of the Zoomcar Holdings board, expressed his joy regarding the successful conclusion of Innovative's business combination with Zoomcar, "As an innovative peer-to-peer car-sharing company, Zoomcar holds immense potential to establish a global community of car owners and renters. With Zoomcar's exceptional management team, we are poised to make a transformative impact on traditional industries. Our collaborative efforts aim to challenge norms, create opportunities for active participation in the sharing economy, and redefine the future of mobility on a global scale."
 
Advisors

Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as exclusive financial advisor and exclusive capital markets advisor to Zoomcar; DLA Piper LLP (US) acted as legal advisor to Cohen & Company Capital Markets. Ellenoff Grossman & Schole LLP acted as US legal advisor to Zoomcar. Lincoln International acted as financial advisor to the special committee of the board of directors of Innovative (the "Special Committee"). Morris, Nichols, Arsht & Tunnell LLP acted as legal advisor to the Special Committee. McDermott Will & Emery LLP acted as US legal advisor to Innovative. Weinberg Zareh Malkin Price LLP acted as US legal advisor to Ananda Small Business Trust.
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