Enakshi, an online apparel brand for women has closed their first round of seed fund of 80 Lakhs from a private investor. The brand is also in talks with a clutch of other investors to secure a total funding of $1 million over the next two years to build on its distribution network.

Image Source – Funding

Founded in March 2018, by young founders in their early 20s, Maharsh Shah & Namya Patel, launched Enakshi, a virtual boutique for modern women that offers only exclusive pieces of garments with no two pieces alike. The brand plans to utilize the funding amount to increase the brand’s visibility, improve their existing logistics & technology and to empanel more designers from across the nation. Enakshi also plans to expand their business into brick and mortar stores as a next step to giving its customers a first-hand experience of their favorite Enakshi garments.

Enakshi was launched to address two primary concerns of modern women

  • Their everyday worry of ‘what to wear tomorrow’
  • Their need for exclusivity and novelty in their wardrobe

The virtual boutique helps women explore and discover fashion that is as unique as their individuality. With efficient logistics in place, the brand promises a quick turnaround time by ensuring dispatch on the very same day so that the customers get the garment of their choice sooner than anticipated.

Enakshi ensures novelty by launching a new collection every 21 days, where each collection is designed by a different pool of designers, empaneled by the brand from across the nation. Through this unique approach, the brand also aims at disrupting the fashion industry by providing a platform to many talented yet underappreciated designers from across the nation, to collaboratively showcase their creativity befitting the theme of the collection.

Enakshi Founders – Maharsh Shah [R], Namya Patel [L]

Maharsh Shah, Co-founder Enakshi, said

With the largest social media savvy youth population in the world, India as a market is becoming increasingly fashion conscious. With decades of experience in the women apparel industry through our parent brand Deepkala in Ahmedabad, we noticed that increasing number of women have now started seeking novelty in their every buy and aspire to create a wardrobe that showcases their own individuality. This catapulted the launch of brand Enakshi.

Namya Patel, Co-founder, Enakshi further added

At Enakshi, we brief our empaneled designers to create designs to suit the modern women’s preferences. Our primary target audience is women in the age group of 18-48 yr, that don many hats in their daily lives and pride over their individuality. Our designs, therefore, are fluid, to adorn the multiple roles of these women and our philosophy of ‘One Woman, One Design, One Garment’ ensures that there is only one distinctive piece per design. Our tech ensure that every design ordered is altered in the requested size and dispatched for delivery the same day to keep up with the paced life of a modern woman.

About Enakshi

Enakshi is an apparel brand catering to the modern women. The brand offers a virtual boutique for women to explore and discover fashion that is as unique as them.The designs on order have been created by a hand-picked pool of designers shortlisted by Enakshi and then further curated to suit the brand’s style and vision. Enakshi offers only fresh designs and no two designs are alike, which means only one distinctive piece per design. The company was launched in March, 2018 and is headquartered in Ahmedabad. Enakshi was conceptualized and created by Nilay Shah, Maharsh Shah, and Namya Patel. The early twenties Founders chose to launch from Ahmedabad since it is the hub for fashion designing and also their hometown.

Lingokids, an English language-learning platform has reached over 5 million downloads worldwide with the most number of downloads from India with over 4,00,000 users followed by Brazil and Mexico since its launch in 2016.  The percentage downloads from Maharashtra are at 22.9% being highest in India, 16.4% in Delhi followed by 10.5% in Karnataka.

The online Education market In India is expected to touch $1.96 billion by 2021 and witness a 8x growth in the next 5 years according to a recent report by Google, KPMG. The reason for demand of online education has been the growth in Internet penetration and easy accessibility to affordable and quality education online. Lingokids offers complete English courses with lots of activities for every learning style for kids from 2 to 8 years and offers well-researched, superior educational content through ELT, a division of the esteemed Oxford University Press and a global leader in multimedia English language teaching.

50% of the ability to learn is developed in the first years of life and Lingokids immersive program encourages early learning and development for children by constantly exposing children to various grammatical structures and more than 3,000 vocabulary words, the apps hits-and-errors algorithm adapts each lesson to the child’s learning speed and the curriculum follows a methodology guided by a prestigious Board of Educators from diverse backgrounds in the field of education with expertise in literacy instruction, vocabulary development, child psychology, ESL instruction, and educational technology.

Cristobal Viedma, CEO and Founder, Lingokids said

The response from India for has been very positive and Lingokids has reached a milestone of over 400000 users.  The English language opens doors to the world and prepares children to become global citizens and our mission is to take down language barriers and provide equal opportunities for children across cultures. Lingokids is a perfect platform to give children a headstart at learning in a 100% ad-free and safe environment.

About Lingokids

Lingokids is the best way to teach kids languages in a fun and natural way. Lingokids offers an adaptive language-learning platform to teach English to children from 2~8 years of age, designed with Oxford University Press content.

Lingokids is a complete language-learning course, with activities that adapt to your child’s learning style. Our curriculum includes exciting educational games and a recommended playlist of activities based on your child’s level in a 100% ad-free and safe environment.

Ralph Pierre, a new fast fashion watch brand by Incosi Fashions is bringing transparency in the Indian fast fashion market to end customers. The brand has launched a premium collection of Men and Women watches that people can easily buy at affordable prices. The watches are inspired from trending European designs and are powered by Japanese CITIZEN Miyota Movement and SONY battery to make them one of the best products in the market segment. Ralph Pierre watches comes with 1 year manufacturing warranty.

Indian youth is demanding quality products at the best prices. With an improved living standard and exposure to worldwide fashion, there is a growing demand for fashion goods that meet international standards both in quality and design.

Ralph Pierre products are available on their website and all the popular market places. One can find the details about the cost of each and every part that goes into the making of the respective watch. By doing this, Ralph Pierre is helping people in understanding that they don’t have to pay through their nose to own a Premium Quality watch. Generally, an end customer pays a hefty amount owing to the several intermediaries and their respective markups. Ralph Pierre is cutting down the middleman and hence bringing a Premium watch to the end customer at an affordable price.

Shubham Khare – Cofounder, Ralph Pierre said

We believe in transparency and that’s why we reveal every small step to our customers. Ralph Pierre bridges the gap between the quality and affordability in the fast fashion segment. It has been launched with watches for now and soon other fashion categories are to be added. With trendy international designs and aggressive pricing, Ralph Pierre provides a viable option to users to own quality trendy fashion goods at reasonable prices.

About Ralph Pierre

Ralph Pierre is a fast fashion brand offering on-trend style watches catering to both young men & women. It is a flagship brand of Incosi Fashions Pvt. Ltd. Ralph Pierre watches offers high-performance features in trendy colors & design. It is designed to bring stylish & premium quality fashion goods at aggressive prices for today’s impulsively fashionable Indian youth.

About Incosi Fashions Pvt. Ltd

Incosi Fashions is an Indian Fast Fashion e-commerce company created by Fashion and Technology enthusiasts. It is a house of brands created with an aim to make innovative fashion and lifestyle technology products to fit all pockets. The current portfolio includes brands like Crossloop and Ralph Pierre that bring the latest technology fashion products at guilt-free prices. These two brands are dedicated to pushing the boundaries of fashion & lifestyle technology in Indian Market.

Alluma, the leading cryptocurrency exchange for the emerging market of India, has announced the launch of its Beta platform offering crypto-to-crypto trading, with Bitcoin [BTC] and Ethereum [ETH] as the base currencies. In addition, the Alluma Beta exchange will also support the trading of other coins such as Ripple [XRP], Bitcoin Cash [BCH], and the FUEL token by Etherparty. The exchange is also currently testing 10 more tokens which will be added to the platform during the course of the beta launch period.

Alluma is also the first exchange in India to introduce the FUEL token by Toronto-based Etherparty, to trade in Bitcoin and Ethereum. Etherparty is a tool that allows users to create smart contracts on the blockchain. It removes the complexity of creating, managing and executing smart contracts on any blockchain network, allowing non-domain experts to build smart contracts with ease. Fuel is the token offered by Etherparty that supports the creation of these smart contracts.

Boasting a simple, intuitive user-friendly interface, Alluma’s exchange promises a smooth and hassle-free trading experience to Indian traders. It offers a superior liquidity through partnerships with other leading exchanges, a loyalty program powered by the proprietary LUMA token, and best-in-class compliance and security frameworks. The platform is supported by a six-layered security architecture, as well as robust localized KYC & AML [Anti Money Laundering] policies based on financial industry international best practices, and a multi-layered corporate governance structure.

Akash Aggarwal – Founder & CEO, Alluma said

After several months of product development and enhancements, we are proud to launch our Beta exchange for Indian cryptocurrency traders. With the launch of the platform, we have aimed to solve one major problem crypto traders face in India is the time it takes from account registration to first trade, which we have brought down to as little as 5 minutes. Alluma’s fast, paperless Know Your Customer [KYC] process has got some great initial feedback. The platform has also been well-received by customers and we look forward to adding many other tokens and token pairs over the next few weeks.

Kevin Hobbs – CEO, Etherparty said

Fuel has been a successful token targeted at helping ICOs create smart contracts. While looking for potential exchanges for the distribution of our token, we found Alluma’s team, vision and the quality of the product they have created is particularly impressive. Asia is a key market for us and we are pleased to work with Alluma in introducing the token into the Indian market, helping us to expand our global reach.

Alluma connects traders with a global order book to trade multiple currencies quickly and competitively. Traders have access to advanced trading options such as limit and stop orders not found on many domestic platforms.

About Alluma

Alluma is the emerging market exchange for cryptocurrencies, which has been specifically designed for the needs of Indian and Southeast Asian users. It is an institutional grade crypto to crypto and fiat to crypto platform where a wide portfolio of cryptocurrencies can be traded, with fast, simple e-KYC functionality, as well as 24-7 monitoring, multi-signature wallets and cold storage for coin security.

About Etherparty and the Fuel token

Etherparty is a tool that allows users to create smart contracts on the blockchain. It removes the complexity of creating, managing and executing smart contracts on any blockchain network, allowing non-domain experts to build smart contracts with ease. Fuel is the token offered by Etherparty that supports the creation of these smart contracts.

The Central Board of Secondary Education [CBSE] has partnered with Microsoft India to digitally encrypt question papers for Class X and XII examinations. This initiative was undertaken to enhance security and seamless distribution of the papers. The solution was successfully tested as a pilot project in the recently held Class X compartmental examinations, across 487 examination centers with approximately 4,000 students.

The Controller of Examination can track the entire process using a software solution built on Windows 10 and Office 365. The overall process was automated to be highly secure with encryption, two-factor authentication and access to download the exam papers at the examination center only 30 minutes prior to start time. The solution leverages features in Office 365 to encrypt and watermark the papers.

The watermark has the individual center’s code imprinted on it which allows for localization and traceability in the eventuality of a paper leak. A CBSE administrator initiates the distribution of exam papers, which results in the generation of emails to the respective centers with a link to One Drive where an exam paper, specific to the exam center can be downloaded. This digitization process saves significant time and cost for exam administrators due to online paper generation, automated delivery process and reduction in approval cycles.

Commenting on the partnership, Anil Bhansali, Corporate Vice President, Cloud & Enterprise, Managing Director, Microsoft India (R&D) Private Limited said

A strong education ecosystem is key to our nation’s development and Microsoft and CBSE are deeply committed to digitally transform the sector. Innovative implementation of technology has the potential to solve some of the most pressing issues faced by the sector. The success of this partnership with CBSE is proof of that potential. I am confident we are well on the way towards a digitally empowered education ecosystem.

For the pilot test, multiple mock trials were conducted before the Class X compartmental examination date, with the entire CBSE team including various exam centers along with Microsoft experts to ensure seamless adoption and familiarity with the process. The solution was deployed by CBSE without a security breach. Widespread adoption of this solution can transform the education sector and essentially change the way students in India take their exams.

Microsoft is working closely with public and private institutions to help modernize education, impart ICT skills training and provide low or no cost technology that helps students with immersive learning, educators with engaging teaching methods, and administrators with efficient management tools.

The Economist Intelligence Unit [EIU] has published the results of a Microsoft-sponsored study entitled, Intelligent Economies: AI’s Transformation of Industries and Society. The study draws on a survey of more than 400 senior executives working in various industries, including financial services, healthcare and life sciences, manufacturing, retail and the public sector.

The survey was conducted in eight markets: France, Germany, Mexico, Poland, South Africa, Thailand, the UK and the US. Essentially, the study explores the transformative potential of Artificial Intelligence [AI] on markets and societies across the developed and developing worlds.

As AI becomes increasingly embedded in the society, it will not only change the businesses that adopt it but will also have significant economic, social and civic effects on citizens and consumers. National and regional economies will become more effective in the way they produce and distribute goods and services. But such transformations will also introduce new challenges such as ethical or security concerns as well as cost and execution risk. This study is aimed at helping senior business and public-sector leaders understand the significant social potential of AI across industries and countries, with special attention devoted to the differences between advanced and emerging markets. In particular, Intelligent economies explores to what extent corporate and government decision-makers believe AI will help meet their toughest challenges, including growth, productivity, innovation and job creation.

Overall, AI is on course to transform the global economy – and organizations around the world have high hopes for its potential. As per the report, in 2017 the global economy recorded its best performance in six years and looks set for sustained growth in 2018. The Economist Intelligence Unit expects global growth of 3.8%, surpassing 2017’s growth rate of 3.7% and well above 2016’s 3.2%.

Key findings of the ‘Intelligent Economies – AI’s Transformation of Industries and Society‘ study

  • Businesses expect AI to have a positive impact on growth [90%], productivity [86%], innovation [84%] and job creation [69%] in their country and industry
  • Nine out of ten executives from around the world [94%] describe AI as important to solving their organizations’ strategic challenges
  • More than one in four [27%] say their organizations have already incorporated AI into key processes and services, while another 46% have one or more AI pilot projects under way
  • Despite often-expressed concerns about job displacement, respondents were broadly optimistic that AI will create new roles. Overall, nearly six out of ten [59%] believe that AI will increase wages and 56% actually see a boost to the employment rate in their country or industry
  • Surprisingly, developing economies are significantly more bullish about the positive effects of AI, with 83% of them expecting an increase, compared with just six out of ten respondents in advanced economies
  • Financial services respondents report particularly high levels of virtual assistant adoption [48%], but they’re also using predictive analytics [38%] and machine learning [36%]. The public sector, meanwhile, has particularly high levels of machine learning adoption [34%].

For more information, please refer to the link here.

When it comes to car insurance and claims, the industry has come a long way from manual assessments and handwritten reports. Due to technological advancements in this field, it is possible to waive off the chances of human errors resulting in quick as well as fair decisions.

Image Source – Car Insurance

Let’s take a look at how these advancements will technology change the Future of Car Insurance

Telematic Systems

A telematics system comprises of a set of devices that can communicate with each other. They work in real-time. These devices can also send reports to the insurer. The driving patterns can reveal the risk profile of a driver. Through this, the insurer can decide the cost of the car insurance policy. In turn, this could help an insured pay the fair price of a policy and not wait for years to provide a proof of being a safe driver through No Claim Bonus. Telematic devices are also helpful in situations like calling emergency services, availing roadside assistance or for the purpose of navigation.

Artificial Intelligence

The applications of Artificial Intelligence or AI are not limited to robots that can interact with human beings. AI holds a prominent place in the future of car insurance as well. The applications of AI are already taking roots in car insurance. Here are the various things powered by AI, which are and will be useful for car insurance:

Chatbots

A simple software to answer user queries can only be helpful to a limited extent. Feed a set of answers into this software and it will be of use only if a user types a corresponding question. However, if this software is powered with Artificial Intelligence, it will not only answer those few limited questions but evolve to display a better answer each time by saving as much data as possible from its previous interactions and new information. With AI, a simple question and answer software turned into a personalized chatbot, efficient enough to solve use queries based on their details. It can answer a range of questions that can be as difficult as solving queries related to renewal of car insurance or something as simple as how to buy online car insurance.

Internet of Things [IoT]

The Internet of Things came into existence with the creation of Internet Protocol version, 6 (IPv6). It became possible to allocate an IP address to every physical thing on the planet.

Detecting Fraud

Internet of Things can be used to detect fraud at the time of car insurance claims. For example, when a car is assessed for damages, a report can be created to differentiate between current and old damage. An insurer will then settle a claim for current payable damages with the help of the report generated by the Internet of Things, thus preventing a possible fraud.

Apart from claims, this technology can be used after buying a car insurance policy to alert emergency services and insurance company in an unfortunate event. If the car meets with an accident, a report can be sent immediately to the insurer about the impact of an accident and consequently the extent of the damage. Meanwhile, emergency services can be notified with the accurate geographical locations. Also, drivers of other vehicles will also be notified about an emergency.

How to buy car insurance?

It is possible to buy car insurance online in a very convenient manner. All you have to do is visit the online website of a car insurance company, submit your details and buy the policy after reading the terms and conditions carefully. This method can also be used at the time of renewal of car insurance policy.

Mumbai is the capital of Maharashtra and the most populous city in India as well. With a large population of 20.5 million, Mumbai stands fourth in the population wise ranking of cities in the world. Also known as the ‘city of dreams’, Mumbai has different contrasts and welcomes everyone with warmth and love.

Image Source – Car Insurance

Mumbai is a union of seven islands, which were held together over a period to build a magnificent and beautiful city. Situated on the Western Coast of India, Mumbai faces the Arabian Sea and hosts one of the most famous harbours in India. Mumbai was first ruled by the Hindu Dynasties, then by the Mughals, and in the end by the Portuguese. Then it was handed over to the East India Company in the year 1668. From there, Mumbai started growing as a mega industrial hub, leaving all another metropolis behind. Mumbai has the highest economy as compared to any city in India. Also, it has the highest GDP rate in South Asia and is listed in the world’s top ten commercial centres concerning global financial flow.

Mumbai is a manufacturing hub of industries like healthcare, diamond polishing, and shipbuilding. It has the largest cotton textile industry and the largest stock exchange in the country. It is also the leading oil and natural Gas provider in India. Mumbai, the entertainment capital of India, is the home to Bollywood, which is one of the most prolific centres of film production in India.

Public transport is considered the best way to go around this megacity. BEST and local trains are the most preferred means of transportation here. Approx 80% of people commute by these means and use them to go to work and come back. Due to the enormous population and poor condition of roads, Mumbai always sees heavy traffic and congestion. However, you will find latest SUV’s, sedan and sports cars in abundance, zooming away on the streets of Mumbai. People are exceptionally affluent in Mumbai, and a significant chunk of crowd owns more than one car for their private use. Hence, it is obvious that you will be surrounded by a wide variety of vehicles and people in Mumbai.

Concerning the recent Motor Vehicle Act amendment by the Indian government, car insurance is now mandatory in India. A comprehensive car insurance policy protects your car against the damages caused due to accidents, natural disaster, theft or burglary. It also protects you from personal liability in case of third-party damages.

At Reliance General Insurance, we offer a comprehensive car insurance policy. You can even buy car insurance online in few easy steps. Avail several benefits like 24*7 roadside assistance, a cashless facility at more than 3800 garages across India, instant policy issuance, and much more.

Here is a list of garages that offer cashless facilities across Mumbai in service of your motor insurance policy