Karma Healthcare, a Rajasthan-based startup in the technology-led healthcare space, has raised INR 3 crore [~USD 500,000] in equity funding from early stage investment firm 1Crowd, existing investors Ankur Capital, Ennovent Capital and Beyond Capital, and angel investors including Mr Anil Chatta [an experienced healthcare professional based in the Middle East].

Image Source – Fund Raising

Founded by ISB Hyderabad alumnus Jagdeep Gambhir, Karma Healthcare aims to provide high quality, affordable, equitable and reliable healthcare to India’s underserved population via a differentiated business model.The company has combined the human touch of a nurse with the scalability of shared doctor services via real-time online video consultations, and delivers healthcare to consumer via its e-Doctor clinics. Karma Healthcare’s overarching vision is to disrupt the healthcare landscape, by establishing a pan India network of healthcare clinics.The company thus seeks to make definitive large scale impact and in-turn take significant steps towards ‘healthcare for all’.

Karma has completed over 50,000 consultations, and currently operates 10 e-Doctor clinics in the states of Rajasthan and Haryana which deliver a comprehensive ecosystem of clinical treatment, quality medicines and diagnostics at competitive rates. With the new funding, more than 10 Lakh patients in the underserved communities of India will be able to access quality healthcare services through Karma’s network of e-Doctor clinics.

The company has developed an in-house technology suite that helps it deliver standardized care, including a bespoke Clinical Decision Support System, and is extending its capabilities to deep learning driven diagnosis, treatment and monitoring. Karma is supported by marquee organizations such as the Tata Trusts, UBS Optimus Foundation and WISH Foundation.

Jagdeep Gambhir, CEO of Karma Healthcare, said

We are grateful to all our investors for reposing faith and commitment in our work. This new funding will help us scale our operations as well as enhance our technology offering to improve quality of care and provide great patient experience.

Anil Gudibande, Co-founder of 1Crowd, said

Karma has vividly demonstrated that a viable business model, with enormous socio-economic impact can indeed be targeted at the lower half of the pyramid. The simplicity with which they combine knowledge and technology, makes for a unique venture. We look forward to working with them as they enter a very exciting phase of growth.

Ritu Verma, Co-founder and Managing Partner at Ankur Capital, said

Karma’s deep engagement and understanding of healthcare delivery has allowed it to develop an impressive healthcare analytics and decision support system. We look forward to working with Karma in rolling this out to a much wider set of consumers in the next phase of their growth.

About 1Crowd

1Crowd is an early stage investor and has made over 15 investments in areas such as FinTech, healthcare, education, enterprise technology and deep technology [including BioTech, NanoTech and CleanTech]. 1Crowd recently announced the first close of its maiden venture capital fund. Ankur Capital is an early stage venture capital fund investing in opportunities created by rising aspirations and digital access for the next billion Indians. Ankur Capital looks for innovative business models that can address core challenges in agritech, food, healthcare, skill development and education among others. For more information, please visit 1Crowd

DhobiLite is the pioneer of on-demand laundry services in India and after expanding its services in every nook and corner of Delhi NCR region, DhobiLite is now inviting people for franchise opportunities.

Image Source – DhobiLite

Whenever we hear of franchise, first thing that comes to our minds is the hefty licensing fee and after that a feeling of skepticism that will franchisor provide support the franchise after receiving a big amount of money even before starting operations.

There are a number of companies offering franchise in Laundry business and all franchise models involve paying a huge amount of licensing fee and then subsequent payments during the life-cycle of franchise. More often these franchisors are themselves new and some even have not completed a year of operation.

DhobiLite having more than six years of experience in laundry segment has a different model of franchising where entry ticket to open franchise is small and subsequent payouts are based on Pay-as-you-grow model. DhobiLite views its franchise as partners in growth and if franchise succeeds than company succeeds automatically. Experience of more than 6 years in industry has helped them to develop a unique understanding of laundry process and have been able to bring gross profit margin at 38% which gives enough room of profitability for franchisee and franchisor. Small entry ticket and a low royalty fee of 8% gives the franchise owner a flexibility to utilize the funds for marketing which helps in scaling the business faster.

Nishant Tripathi, Co-founder,  Dhobilite, said

A very important aspect of any service based business is to deliver quality service every time and for this DhobiLite has used technology in day to day operations right from customer placing order to processing the order and then to delivery and feedback. With the help of this fully integrated in house developed solution, DhobiLite ensures that the franchise partner doesn’t have to worry about maintaining accounts or tracking orders or communication channel with the customer.

Depending upon the interest of business owner, DhobiLite offers a range from pure offline model franchise [in Delhi NCR region] to a fully owned master franchise. Each franchise model is uniquely designed after study of the demographics of the area, the geographical spread of the area and then arrive at the fee structure.

Processing of cards may be confusing and overwhelming. To enjoy a positive experience, it is important for individuals to understand some basics. They must understand what they are being charged for and the different options that are available.

Image Source – Credit Cards

Here are six parties involved in a transaction.

  1. Merchant: He is the business owner that accepts the payment
  2. Cardholder: The individual who uses the credit card to make purchases
  3. Card association: Governing bodies that set the interchange rate, maintain and improve networks, and arbitrate between issuing and acquiring banks
  4. Acquiring bank: Is the merchant’s bank that holds the funds and acquires the money through sales
  5. Issuing bank: Issue credit cards to customers and pay the acquiring bank for customer purchases
  6. Payment processor: Handles batching and processing of the purchases made through cards

Credit card process

  • The customer makes a purchase using the card
  • The card is swiped through a processing terminal that recognizes the same and intimates the card issuing company
  • Card authorization
  • Card company remits the payment to acquiring bank through certified providers
  • Acquiring bank deposits funds into the merchant’s bank
  • Monthly statements detailing the interchange fees

The issuing bank lends the money to the cardholders who may pay it after the credit period or carry it forward by paying the finance charges. Both the issuing and acquiring banks deduct fees. Therefore, the amount received by the merchants is lesser than what is charged to the customers.

  • Interchange fee: Issuing bank fees
  • Discount fee: Acquiring bank fees, this may be supplemented with other charges

Both these fees are a certain percentage of the transaction. However, a small fixed amount may also be applicable for every transaction. Several banks issue cards to individuals and are issuing banks.

Interchange rates are published and may be found online. The interchange fee depends on several factors such as the type of card used, kind of merchant that accepts the payment, and if the card is available during the transaction.

The type of business accepting card payment affects the interchange fees. This to compensate the issuing bank in case of any charge-back. It occurs when customers successfully dispute a charge. In case a customer complains about the product or service, there is a possibility that the merchant’s bank account may be debited with the money paid by the acquiring bank along with an additional fee. Although merchants may dispute this, resolving the issue is time-consuming.

The acquiring bank’s responsibilities are often split between two entities. The merchant service provider stays in constant touch with the merchants. The other company, also known as the processing company does the execution of the transaction. It transmits the relevant information to the merchant, the issuing, and the acquiring bank.

Despite the potential risk, the acquiring bank remits the money to the merchant a few days after the transaction. This is perceived as a loan and therefore, the capability of the merchant to borrow these funds is evaluated. The credit score and ability to borrow is important.

Uber, the world’s largest on-demand ride-sharing company, has released the second edition of The Uber Lost & Found Index, a snapshot of frequently forgotten items, the most forgetful cities, as well as the days of the week and times of the year Uber riders tend to report items as lost.

Sanjay Gupta, Head of Marketing, Uber India & SA, said

With the upcoming Mercury Retrograde, the time of the year generally believed to spur bouts of forgetfulness, we are releasing the second edition of our annual Lost and Found Index. We’ve all been there and experienced that moment of panic when we first realized that we’ve misplaced an important, or even sentimental, personal item. With India emerging as the most forgetful country in APAC and Bangalore continuing to be the most forgetful city, our goal is to use this fun and insightful index as an opportunity to educate our riders about the in-app options available to them at the tap of a button, in case they lose something in an Uber.

Here’s a quick guide and video for riders looking for ‘Lost Items’:

  • Go to ‘Menu’
  • Tap ‘Your Trips’ and select the trip where you left something
  • Tap ‘Report an issue with this trip’
  • Tap ‘I lost an item’
  • Tap ‘Contact my driver about a lost item’
  • Scroll down and enter the phone number you would like to be contacted at. Tap submit.
  • If you lost your personal phone, enter a friend’s phone number instead.
  • Your phone will ring and connect you directly with your driver’s mobile number.
  • If your driver picks up and confirms that your item has been found, coordinate a mutually convenient time and place to meet for its return to you.
  • If you are unable to connect with the driver, use ‘in-app support’ to report the loss and Uber Support Team will step in to help you

Over the past year, phones, bags and keys top the list of items left the most in Ubers in India, together with ID cards, eye-wear and an umbrella rounding up the top ten. But riders aren’t just leaving the usuals – everything from wedding gifts to gold jewellery, to LCD TV and child’s tent house have been reported as lost.

Here’s a look at how Bengalureans fared

  • According to the report, Namma Bengaluru leads the list as the most forgetful city in APAC
  • The most number of items reported lost were on a Saturday and Sunday – blame it on the weekend shenanigans
  • The most common time to report an item lost was around 6 AM after an early morning ride and during the sluggish hours post lunch between 1 PM to 4 PM
  • The most forgetful days in Bengaluru 2017 were September 2, September 9 and September 16 2017!
  • Unique items lost by Bengalureans include some outrageous articles like wedding albums, wedding lehengas worth INR 20000, LCD TVs and 2 cheques worth INR 25,000!

Below is the full report from Uber Lost & Found India Index

10 Most Frequently Forgotten Items in Ubers – India

  1. Phone
  2. Bag
  3. Wallet
  4. Keys/key cards/lock
  5. Clothing
  6. ID/License/Passport
  7. Eyewear
  8. Bottle
  9. Umbrella
  10. Jewellery

Most Unique Items Forgotten in Ubers in India

  1. Cricket batting pads
  2. Gold Bracelet
  3. Photo Frame of rider’s grandmother
  4. LCD TV
  5. Child Tricycle
  6. Child tent house
  7. Golda chingri [fish]
  8. Mosquito net
  9. Poker set
  10. Cat harness

Most Forgetful cities in India

  1. Bangalore
  2. New Delhi
  3. Mumbai
  4. Hyderabad
  5. Kolkata
  6. Chennai
  7. Pune
  8. Jaipur
  9. Chandigarh
  10. Ahmedabad

Most Common Days of the Week to Report Items as Lost

  1. Saturday
  2. Sunday
  3. Monday
  4. Friday

Most popular times of day to lose items

  1. People are most likely to forget an item between 1:00-4:00PM or during wee hours of the day between 5:00-6:00 AM
  2. While the fewest lost items were reported at 10:00 AM and 5:00 PM

Most forgetful days in 2017

  1. September 16, 2017
  2. December 31, 2017
  3. June 27, 2017
  4. July 18, 2017
  5. November 25, 2017

If you’ve been keeping up with the world of auto vehicles, you probably know that a revolution is in place. Autonomous vehicles, aka driverless cars, aren’t just the stuff of movies anymore. They are real and they are here already.

Image Source – Driverless Cars

Over the past decade, various companies have been working on bringing autonomous vehicles to the road. These cars will use a series of technologies to navigate the roads and avoid traffic all on their own, thus drastically cutting down on accidents caused by human error as well. If you’re not all caught up, this article will give you the lowdown on all the essentials about driverless cars.

What are Autonomous Cars?

Autonomous or Driverless cars are vehicles that can perform all the necessary functions of driving that humans can, including navigation, parking, etc. It uses a series of tools, several sensors and GPS technology to navigate the path, interact with other vehicles, avoid obstacles and get you to your destination in the fastest and safest way possible.

There are various tiers of autonomic cars out there. Some of them do most of the navigation but require minimal human intervention, and some don’t require any intervention at all. The former of these categories has already been launched in several countries around the world. In fact, autonomous trucks have already become a reality in the US.

A lot of vehicles these days come with some of these autonomous features such as self-adjusting speed controls, adaptive cruise control, blind-spot warnings, etc.

While Tesla was working on autonomous vehicles, it seemed to be something far-fetched, something that only the super-rich of the world can afford. However, now that traditional companies such as Ford have taken it up as well, it seems likely that driverless cars will soon be the norm rather than the exception.

Benefits of Autonomous Cars

The following are some of the main benefits of autonomous cars:

  1. Reduced Maintenance Costs: Autonomous vehicles will be able to automatically gauge whether a certain part of the car is not running in optimum quality and initiate maintenance. Furthermore, it will run in optimum driving parameters, thus increasing fuel efficiency. And because of the sensors and the lack of human error, accidents – even minor ones – will be reduced drastically.
  2. High Efficiency: The car will be able to monitor the surroundings and objects and monitor speed to be able to drive in optimum condition. Furthermore, it will be able to pick you up at just the right time and drop you off at your destination in the quickest time possible. You also won’t have to worry about parking issues as the car will be able to locate a spot after you have been dropped off.
  3. Enhanced Safety: Autonomous vehicles will have a far faster response time than humans. This will completely negate most of the reasons for accidents, i.e., human error, road rage, etc.

Well, that’s just the basics of autonomous technology. It’s believed that once driverless cars take over, insurance companies will be in for trouble as there won’t be as many accidents and problems to insure against anymore! However, for now, our regular cars are all too prone to accidents so you should always have a reliable car insurance with you.

A life insurance scheme is one of the best wealth-building vehicles due to the numerous benefits it has to offer. It is the perfect answer to obtain financial security and protection in the long run. You may, therefore, live your life stress-free, knowing that you are covered by such an insurance scheme.

Image Source – Life Insurance

There are multiple advantages of investing in a life insurance policy. Following are six major benefits of purchasing a life cover.

  1. Risk cover

Life is uncertain. In case of an unfortunate event such as death, your family may lack a financial support system. Since a life insurance policy is a life risk cover, you and your family are protected in an event of a premature death.

  1. Death benefit

Your beneficiary may avail of the death benefit in case of an untoward incident. The insurance provider is liable to pay the sum assured amount along with the bonus if any. This amount may be used by your near and dear ones to meet their lifestyle needs, pay off an existing loan, or meet funeral costs, among others.

  1. Tax benefits

Not only may you enjoy a life cover through a life insurance policy, but you may also avail of tax benefits on the premium paid. You may avail of a maximum deduction up to INR 1.5 lakh under Section 80C, 80CC, and 80CCE of the Income Tax Act, 1961. You may, therefore, invest in life cover and reduce your tax liability largely.

  1. Higher coverage

One of the most important benefits of investing in life insurance plans is higher coverage through riders. You may supplement your existing policy by opting for riders, also known as add-ons. Some of the most common riders that extend the scope of your life insurance cover include personal accident rider, critical illness rider, and waiver of premium rider, among others.

  1. Life stage planning

You may consider a life cover to help you meet financial goals at every stage of your life. You may plan for your life stage needs such as meeting your children’s educational costs, arranging finance for their wedding, purchasing your dream home, and planning a retired life, among others.

Life insurance plans, therefore, provide numerous benefits to you and your family. These insurance plans not only provide support in case of a sudden death but also acts as a long-term investment. You may, therefore, consider such an insurance policy as a part of your wealth planning.

The number of smartphone users in the country has been steadily rising. You may increasingly be using your phone for various activities to get your work done efficiently and quickly. Stock trading through these smart devices is also gaining popularity because the entire process is easy and quick. A large percentage of retail investors, especially within the cash segment place orders through their phones.

Image Source – Trading

According to a study conducted by The Economic Times, the turnover through mobile trading as a percentage has grown significantly in the last few years. A huge portion of this growth is within tier II and tier III, which often do not have a branch network.

Trade on the go

If you regularly trade on the stock market, it is important to place buy and sell orders at the right time to maximize your profits. During market volatility, the possible opportunities may get away through your fingers within seconds if you do not take immediate action. Such immediate action may be an issue if you have limited access to a trade terminal at your office. Moreover, you do not want to miss any investment opportunity while you travel. A share trading software overcomes all these limitations and ensures you are able to profit from all available opportunities.

Small ticket size

A large majority of retail investors prefer to use this option to execute small ticket size trades. The demand for mobile trading has increased because of the reduction in the prices of smartphones that come with high-tech features. This, coupled with the affordability of Internet plans has contributed to the surge in the demand.

You may simply download the share trading software offered by a reliable and reputed broker. To activate your account, you may need to send an email request. On the successful activation, you may trade through the account using your username and password.

Accessibility Another major factor that has contributed to the popularity of mobile trading is its easy accessibility. The investors who reside in small towns and may not have access to a computer may easily trade on the stock market using a basic smartphone. Such software applications provide you access to the share markets even from a remote location as long as you have an Internet connection.

Unique features

Most of the reliable brokers offer high-end share trading software that comes with several unique features. Several discount brokers are increasingly using mobile technology to provide improved services to their clients. Here are three unique features of such trading apps.

  1. Multiple segments

Mobile trading apps allow you to trade in the cash segment of the stock markets. In addition, you may invest in the derivatives segment [futures and options] on the leading share markets. Several apps allow you to trade in commodity and currency markets. Therefore, you are able to benefit from trading through multiple segments.

  1. Real-time price tracking

You may create a watch list for your favorite stocks. The prices of these may be streamed live to receive real-time updates. This allows you to make accurate investment decisions that will maximize your benefits.

  1. Seamless fund transfer

Most of these share trading software mobile apps provide seamless and hassle-free fund transfers between the trading and bank accounts. Therefore, you are assured of never missing on an investment opportunity due to lack of adequate funds.

The brokers may offer discounts on the commissions charged on the mobile apps. However, before you choose one of the several brokers, it is important you compare the features, and terms and conditions of these different service providers.

Each one of us would have encountered situations that would have acted as a complete life-changer. Some of them would have brought the best out of you, whereas some could have shattered your life. The impact of the incident or situation would be of higher magnitude in case it involves the family members.

However, what happens if you come to know about some of the mysteries surrounded in your life. Well, your life would go completely topsy-turvy once you realize the same. ‘I Owed You One‘ by Doctor Madhu Vajpayee is one such novel that involves various emotions that a person has to go through when he is put under testing circumstances.

Today we review the book ‘I Owed You One’, a heartwarming story of love, duty, and courage.

I Owed You One: Trailer

Dev Khanna has it all before a mysterious letter shakes the very foundation he has built his life on. With beliefs challenged, he decides to close the chapter once for all. I Owed You One is the story of promises, triumphs, defeat, and of holding on and letting go.

About the Author: Dr. Madhu Vajpayee

Dr. Madhu Vajpayee studied her MBBS from KGMU, Lucknow and MD from AIIMS, New Delhi. The writer in her was born somewhere in those hospital corridors where she spent the last two decades of her life. After writing several scientific papers and chapters in books, I Owed You One is her second journey in the literary world, the first being Seeking Redemption. When not creating stories, she enjoys traveling and reading.

I Owed You One: Detailed Review

The central character of the novel is Dev Khanna, a chemical engineer based out of Australia. Dev is happily married to his wife Radhika and has an adorable son named Neel. He is very well to do and his life is progressing at a steady pace when suddenly he receives a mysterious letter from his hometown in India. What is inside the letter and how this small piece of paper changes so many lives is what is answered in the novel I Owed You One. The letter results in a series events of self-realization which form the crux of the story.

Though Dev is very well to do, he has attained this stature by facing a lot of difficulties. He had a troubled childhood where his father used to constantly ignore his mother and did not have any emotional bonding with her. Due to such bad behavior, Dev Khanna never shared a good rapport with his father. Such events leave a mark in his mind and would never leave him even when he leaves India for settling in Australia. The passing away of his mother has a deep-rooted impact on him since she had always been his pillar of support.

After fighting so many odds, Dev still does well on the professional front but these haunting personal memories never left him. The mysterious letter from India just acts as a trigger and this is where the story goes into flashback. He goes back to India and this is where starts a journey filled with emotions, anger, anxiety, etc.

All the characters namely Dev Khanna, his wife Radhika, son Neel, including the supporting cast of Mr. Goyal who is Dev’s host in India, driver Shahid have been etched with perfection. The story is written in a subtle manner and each character plays a pivotal role in the novel. As the story progresses, you can feel for Dev Khanna and start realizing his feelings. There are a lot of interesting quotes or one-liners about Dev’s bonding with his mother, his love for India, friendship, etc. The best quote in the book is

Even Phenomenal amount of wealth doesn’t guarantee any security against unhappiness

The storytelling by Dr. Madhu is spot-on with characters entering and exiting scenes at the right time. At around 258 pages long, I Owed You One is a fascinating read and sends a very important message that irrespective of the amount of wealth a person owns, he cannot buy true happiness!

Closing Thoughts

I Owed You One is a must-read novel if you looking for an interesting story with path-defining characters. The story is etched in a very beautiful manner where relationships are given primary importance.

Overall Rating – 4.5/5

You can purchase I Owed You One by Dr. Madhu Vajpayee by clicking on the link below

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