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Business Wire India - Multimedia: Digest for June 22, 2024

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Alyve Health, India's fastest-growing health tech platform, announced a Series A funding round of $ 5.5 million. The investment round was led by Axilor Ventures and saw participation from 1Crowd Fund, an existing investor, as well as InHealth Ventures, a healthcare-focused fund. The company also raised a venture debt fund from Trifecta Capital as part of this round.

Founded by Shashank Avadhani, Sushant Roy, and Vineet Mehta in May 2020, Alyve Health was built with the vision to provide unparalleled coverage and simplify the health plan experience for its members.

Alyve's health plans cover multiple healthcare journeys like doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships, and proactive well-being. The personalized plans, cashless experience and assured care across prevention & cure sets the brand apart.

"We are thrilled to secure more fuel for our growth," said Shashank Avadhani, Co-founder & CEO at Alyve Health. "We are privileged to play a significant role in shaping the future of health plans."

Sushant Roy, Co-founder, CBO & COO at Alyve Health, expressed how the company intends to use the funds: "We are committed to leveraging these resources to enhance our platform, expand our service offerings, and ultimately, create enriching experiences for millions of users across India to achieve a healthier and quality life. This investment empowers us to continue innovating on our product and technology."

Prachi Sinha, Principal at Axilor, who led this investment, said, "Even for a mature product like IPD insurance, India struggles with not just poor coverage but also under coverage. With rising incomes and awareness, consumers are asking for offerings beyond just hospitalization benefits. In a market fraught with noise, Alyve's customer-centric approach to enhancing the healthcare experience while offering tailor-made, high-utilization OPD services, gives the company the right to win. We have been early partners with Alyve and are proud to support them in their next stage of growth."

The Alyve Health platform is seamlessly integrated with payers (insurers, TPAs), intermediaries (brokers, financial institutions, digital platforms), and providers (clinics, diagnostic centers, fitness studios). The platform provides tailored solutions to multiple groups - employees, customers, and channel partners - and currently serves over 1 million members.

Vineet Mehta, Co-founder, and CTO at Alyve Health said, "This funding will enable us to further fortify our platform and enhance our data, security, and AI capabilities."

Anil Gudibande, Co-founder of 1Crowd Fund, said, "Alyve Health is a unique technology venture in the insurance industry weaving an ecosystem of service providers and providing an assured experience to all stakeholders. With growing coverage, we believe that Alyve Health can help redefine health plans. 1Crowd is privileged to continue backing Shashank, Sushant, Vineet, and their team as they pioneer a new paradigm in the space"

Lavanya Bhamidipati, Principal at InHealth Ventures said, "We are excited to support Alyve Health (our second investment in India) in their mission to democratize healthcare access and empower individuals to take charge of their well-being "

The company has won several awards including Dun and Bradstreet's Startup Trailblazer 2024, Integrated Health & Wellbeing (IHW) Council's Healthcare Startup of the Year 2024 as well as the Healthy Lifestyle Startup of the Year 2024.

Nilesh Kothari, Co-founder, and Managing Partner, Trifecta Capital said, "We are excited to partner with Alyve Health during this pivotal growth phase. Led by Shashank, Sushant, and Vineet, one of the most execution-focused founding teams in the ecosystem, Alyve Health is uniquely positioned to address the rising awareness of insurance and healthcare in India."

Alyve Health caters to individuals, employers, and other businesses, offering a comprehensive suite of preventive and medical care services. By prioritizing prevention, early detection, lifestyle management, mental health, high-quality medical care, and providing cutting-edge technology, Alyve Health not only delivers diverse benefits but also reduces healthcare costs, solidifying its role as a transformative force in healthcare.

By leveraging technology and human expertise, Alyve Health aims to disrupt traditional healthcare models, offer a more customer-centric experience, and tailor healthcare plans to each individual's unique needs and goals. The size of the Indian healthcare industry crossed $ 370 billion in 2020 and is expected to reach over $ 610 billion by 2026, as per the International Trade Administration report. Alyve Health recognizes the opportunity in the Indian healthcare industry, its focus area is corporates and modern workforces. It is trying to remove the complexities in providing comprehensive healthcare coverage to individuals and groups. For more information visit www.alyve.health.
Business Wire India

India's stock market, the world's fourth-largest equities market, boasts 200 million active traders and investors. Money Expo India will feature leading Indian stockbrokers such as 5Paisa, Dhan, Fyers, ICICI Securities, and Mprofit, showcasing their groundbreaking broking services that are transforming the market.

Money Expo, India's premier stock markets event, returns for its third edition, set to be the largest gathering of traders and investors in Mumbai. Scheduled for August 17-18, 2024, at the Jio World Convention Centre, this year's expo promises to be the largest event of its kind, welcoming over 15,000 attendees from more than 120 companies.

This highly anticipated event underscores the importance of Asia as a hub for growth and innovation in the global digital asset ecosystem. The conference will feature headline speakers and high-profile sponsors, highlighting the growth and innovation driving the stock markets.
 
Event Date 17-18 August 2024
Timing 10 AM to 6 PM
Conference 2- Days from 10 AM to 6 AM
Venue Jio World Convention Centre, BKC, Mumbai
Ticket Paid – Buy Your Ticket with 60% Off
Expecting Visitors 15000+
Exhibitors & Sponsors 120+ Companies
Speakers 70+
 
Following the success of previous editions, Money Expo India continues to provide unparalleled networking opportunities. Vikrant Dale, VP of Growth at Bigul, highlighted the value of interacting with the right audience, stating, "Money Expo is a great platform for networking with a lot of customers from related fields who have queries, making it a good opportunity for us."
 
Ghadeer Ibrahim, Head of Market Research and Sales at MENA, emphasized Mumbai's significance for investors, particularly in gold and diamonds. "We met very good clients in Mumbai, fostering strong relationships which are crucial for market growth," she said.
 
Don't miss this opportunity to be part of a defining event in the trading and investment landscape. Join us at Money Expo India 2024 and connect with industry leaders and innovators.

Buy Tickets: https://moneyexpoindia.com/mumbai#tickets
Become Sponsor: https://moneyexpoindia.com/mumbai/become-sponsor

For more information: Visit the website: https://moneyexpoindia.com/mumbai/
Business Wire India

Praveen Kankariya, Founder and Executive Chairman of Impetus Technologies has been recognized by Great Place To Work India among - India's Most Trusted Leaders.
 
His recognition reflects the strong collaborative culture Impetus has established within the organization. Under Praveen's visionary leadership, Impetus has pushed the boundaries of innovation and excellence. His ability to inspire and lead has driven the company to achieve remarkable growth and success working in concert with some of the world's leading technology companies. Praveen's strategic direction continues to guide Impetus toward new heights and sustained accomplishments.
 
As a global authority on workplace culture, Great Place To Work has been studying employee experience and people practices across organizations for over three decades. Every year, more than 100 million employees from over 150 countries worldwide take the with Great Place To Work for assessment, benchmarking, and planning of actions to strengthen their workplace culture.

In this year for India, based on a rigorous evaluation methodology, 27 leaders among India's Most Trusted Leaders 2024 have been recognized.
 
"Today, we celebrate those who embody this philosophy. The leaders recognized here haven't just created exceptional workplaces, they have the potential to inspire our workforce through their legacy of trusted leadership. We are confident that with your continued dedication, India will continue to shine as a global hub of innovation and knowledge, ultimately realizing our shared vision of making India a Great Place To Work for All™."
 
- Balbir Singh, CEO, Great Place To Work® India
 
"It is a proud moment for Impetus as Praveen Kankariya is recognized as one of the Most Trusted Leaders by Great Place To Work India for the second year running. This award is a testament to his leadership and his ability to build a culture of trust within our organization. His influence is instrumental in our continued success."

- Rajeeva Gupta, CEO, Impetus Technologies 
Business Wire India

  • QpiAI closed first ever external investment with the pre-series A funding of $6.5 million led by Yournest and SVCL.
  • WFC, an angel group; Ramesh Radhakrishnan, a successful serial entrepreneur and venture capitalist; Ramaswamy Prabhakar, a Technologist and angel investor from Silicon Valley; Quick Heal Security founders Kailash Katkar and Sanjay Katkar and their family office; Lakshmeenarayanan, Former Chairman and CEO of Cognizant; Bhupinder Singh, former CPO of Bentley; Pratap Reddy, Silicon Valley serial entrepreneur and angel investor: Sahasra capital; and other angels also participated in the round.
  • With this funding, QpiAI will be implementing full stack 25 qubit Quantum computers that are scalable from 25 to 1000 physical superconducting qubits with the same infrastructure.
  • QpiAI will be aiming to increase revenues from software licensing of 7 software platforms: QpiAI-pro, QpiAI-explorer, QpiAI-opt, QpiAI-pharma, QpiAI-ML QpiAI-logistics and QpiAI-matter, which are based on Quantum computing and Generative AI technologies.
  • QpiAI is a revenue generating, enterprise focused technology startup and counts Fortune 500 companies globally as its customers in pharma, materials, chemical, cosmetics, automotive, financials and manufacturing.
  • Debraj Banerjee from SIDBI ventures will be joining the board of QpiAI as nominee of SIDBI venture capital.
  • Ramesh Radhakrishnan, the first external investor in QpiAI, joined the board as a nominee director of Qpi Technology, holding company of QpiAI
 
QpiAI, a leader in quantum computing and generative AI, announced its maiden external funding of $6.5 million to build Quantum computing and Generative AI products and platforms.
 
Dr Nagendra Nagaraja CEO and Founder of QpiAI quoted, "The pre-series A round of QpiAI will be remembered as a landmark funding round in Indian Deeptech. This round should allow us to lay a foundation of intelligence modelling and intelligence compute via Quantum computers and Generative AI. This funding will enable us to achieve breakthrough innovation in vertical integration of Generative AI and Quantum computing in enterprise and industrial applications. We will also be demonstrating 25 Qubit Quantum computers in our Bangalore HQ by Q4 CY2024/ Q1 CY 2025. With integration of HPC built out of our lab infra and integration all our 7 Quantum and Generative AI platforms we will have prototype of Quantum-HPC QpiAI datacenter, this can be scaled further to offer QCaaS (Quantum Compute as a Service). There is also good traction with our current customers to provide Quantum-HPC solutions with our software and compute infra. A very advanced Compute infra with Quantum capability that we will be deploying with this funding will allow us to innovate in Generative AI and Quantum software. QpiAI Quantum and AI stack, including hardware and software, will have tremendous impact on pharma, non-energy transition materials, chemicals, manufacturing, logistics and finance."

Dr Nagendra further added, "There is also tremendous traction in the B2G segment with QpiAI thought leadership in Quantum and AI that has helped shape technology and infrastructure roadmaps. QpiAI is a Global company with its HQ in Bangalore, India and subsidiaries in US and Finland. As we work with Global enterprises and Governments including the US, Europe, Japan, the Middle East and Southeast Asia, we will be expanding our presence in these regions to create value to our customers and partners."
 
Dr Manjunath R.V., Vice President for Quantum computers QpiAI, further added, "Building Scalable Quantum computers that can solve real world problems and bolster our industry verticals is a very key technology development. At QpiAI, we are very excited to have our own Quantum computers to further build Quantum and AI data centers. Our team is really happy to have multiple QPUs in our dilution refrigerator to make sure we achieve high quality quantum compute infrastructure. We can't wait to see the next steps in our roadmap to advance Quantum computers scaling 25 qubits to 1000 qubits."
 
Sachin Kumar, Lakshya Priyadarshi and Aswanth Krishnan, who leads software products and solutions on Generative AI and Quantum software, suggested, "In the last 4 years, we were able to commercialize our software platforms and achieve traction across large bluechip enterprise customers. With this funding and with all our 7 software products ready to scale, we envision scaling our software platforms globally. We anticipate a great time ahead for us. There is lot of customer interest to see QpiAI Quantum and AI software platform working on QpiAI Quantum-AI HPC datacenters to implement their next gen applications in pharma, materials, fintech, automotive and manufacturing."

Sunil Goyal MD, Yournest who led the funding round, further added, "By investing in QpiAI, we're helping to propel India to the leading edge of quantum computing. This technology has the potential to revolutionize fields like materials science, drug discovery, automotive, and manufacturing. QpiAI's innovative approach makes them a key player in unlocking this potential, and we're thrilled to join Dr. Nagendra and the QpiAI team on this exciting journey."

Debraj Banerjee, President at SIDBI Venture capital and Board of Director of QpiAI who led the funding round from SIDBI ventures, further added, "SVCL is very excited to be part of this very important deeptech journey of national importance. Quantum computers will change the world when we commercialize it. The technology is of immense importance for national security and advance computation. Having a home-grown Quantum computer will be very important for our national institutes to further our progress in computation technologies. We are eagerly looking forward to a working 25 qubit machine from QpiAI by Q4 of CY24 /Q1 CY25."
 
Ramesh Radhakrishnan, a very successful serial entrepreneur, a veteran VC and Board of Director at QpiAI, further added, "Quantum computers and AI are the future for all applied technologies in many different market segments including pharma, transport, cybersecurity, and financial among others. Integrating Application software with Quantum System software and hardware to make AI and Quantum computing work together is a fundamental innovation whose significance is going to be enormous. With centers in the US and Finland, QpiAI is well positioned to scale Quantum and AI technologies and address markets globally. I am very excited to be a part of this wonderful journey."
Business Wire India

JSW MG Motor India, on the occasion of World Music Day, announced a heartwarming initiative under MG Taal. The carmaker, in collaboration with Songdew – India's largest music business administration platform, will nurture visually impaired students from AICB Captain Chandan Lal Special School for the Blind, Gurgaon, Haryana. These students will receive professional training in music besides a chance to showcase their talents at relevant platforms, thereby boosting their confidence and broadening the horizon of opportunities.

The company under its community service initiative - MG Sewa has adopted students from the school. Recognizing their talent in music, the automobile maker stepped forward with its initiative to nurture them and help them advance their musical journey through MG Taal. These students will be selected to form a band and trained by professionals over a period of one year.

During the training, the band will benefit from multiple mentoring sessions with professional musicians. These sessions will cover various aspects of music, providing invaluable insights and allowing the students to interact with seasoned artists. This mentorship will significantly enhance their musical skills, provide career guidance, and inspire them to pursue their dreams.

Upon the completion of training, the band will collaborate with a professional producer and lyricist from Songdew to create an original song. This track and its music video will then be distributed across all major platforms and promoted on Songdew TV, as well as social media. Furthermore, the band will participate in a jamming session with the MG Taal Season 3 winners and will get access to curated opportunities on Songdew platform, to highlight their talent within the music community.

Satinder Singh Bajwa, Chief Commercial Officer at JSW MG Motor India, stated, "This initiative is not only about creating music; it is about empowering these students, and providing them with opportunities that can lead to a more inclusive and fulfilling life. Through MG Taal, we aim to offer these talented students a platform to showcase their abilities and pursue their dreams. This exposure and the skills they acquire will help them build confidence, improve social skills, and unlock potential career paths in the music industry."

JSW MG Motor India is renowned for its innovative approach and commitment to creating exciting experiences. Beyond automotive excellence, the brand has integrated music deeply into its identity, supporting and promoting various musical talents and initiatives through its MG Taal platform. Two seasons of MG Taal have been successfully completed, offering a platform for emerging talent and cultivating a vibrant community of music enthusiasts and creators.
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