All Posts by Himanshu Sheth

|In: General|Last Updated: | 0 Comments

Highways are meant to facilitate swift movement of vehicles. Whether you drive a commercial vehicle or a private vehicle, highways help you to reach your destination much faster. However, toll stations on highways stop this free-flowing traffic. Many-a-times, such tolls cause traffic jams resulting in increased travel time. This is where electronic toll collection comes in the picture. Read ahead to know more about electronic toll collection, its functioning and application.

Image Source – Fast Tag

Reducing Traffic Congestion

National Highways Authority of India [NHAI] has brought in the concept of National Electronic Toll Collection program. This concept is suggested to be applied across highways in India. This move is aimed at reducing traffic congestion arising due to manual collection of toll at toll stations on highways. Such electronic toll collection is set to benefit vehicle owners, commercial entities, as well as the government.

How It Works?

This electronic toll collection is based on a Radio Frequency Identification [RFID] tag. This tag is placed on a vehicle and is known as FASTag or toll tag. Every time a vehicle with such a tag crosses the toll plaza, the toll is automatically deducted from the registered bank account of the vehicle owner. This means that instead of paying toll physically, you pay toll online. Going ahead, various online wallets can also be linked to facilitate online payment. Such an initiative is in sync with the Indian government’s endeavor to promote cashless transactions and build smart cities.

Promoting Transparency and Demanding Accountability

Apart from easing the flow of vehicles on highways, such an initiative will also help keep things transparent regarding the amount of money collected through the toll stations. Electronic toll collections on highways will be transparent and make the authorities more accountable. NHAI has come up with mobile Apps to help people pay toll online. People can buy and recharge FASTags through the following Apps: MyFASTag and FASTag Partner. The process is similar to popular e-commerce Apps. This way, those who have been transacting online will have a similar experience when it comes to paying toll online.

Other Application

FASTag has the potential to impact various other industries as well. For example, RFID tags can be used to facilitate transactions at drive-through food outlets, fuel stations, etc. Real-time data from such tags can be used for mapping the movement of vehicles. This can be looked at from an enhanced security perspective along with traffic control measures.

There has been a tectonic shift in the insurance industry with the advent of digital insurers. Such insurers leverage technology to reduce manual intervention across the insurance experience. Apart from this, they also focus on making insurance simple by reducing jargons and creating a convenient user journey.

RFID and Vehicle Insurance

In vehicle insurance, real-time data can be extremely useful in analyzing the risk potential of a particular policyholder. Currently, such data can be tracked with the use of telematic devices. This allows the insurance providers to offer customized calculation of motor insurance premium based on the risk exposure of an individual driver as opposed to arriving at a premium based on generalization. Real-time data collected through RFID tags can be useful to insurance companies. They can work towards analyzing that data in a way to promote personalized pricing. This way, drivers who ride safe will have to pay less insurance premium.

The New Normal

Years ago, highways were a new concept in India. Today, they have become a norm. Currently, highways in developed nations do not face traffic issues because of toll stations, as they collect toll electronically. Just as highways have become a norm in India, it will take some time for electronic toll collection to become a norm.

|In: Funding|Last Updated: | 0 Comments

Investec Capital Services (India) Ltd has announced that it acted as an an exclusive financial advisor to Kissht for the Series C fund raise of $30 million. The funding round was led by Vertex Ventures, the venture capital arm of Singapore state investor Temasek Holdings, and Sistema Asia Fund, with participation from existing investors Fosun RZ Capital, VenturEast & Endiya Partners. This is one of India’s largest consumer Fin-Tech deal.

Image Source – Kissht

Investec India had also advised Kissht on its Series B led by Fosun in November 2017. Investec India has built a strong advisory business over the last few years within the Indian Venture Capital ecosystem. Investec India has advised companies across a wide range of sectors on Equity Fundraises at Series B and above, including Kissht, Bizongo, Treebo Hotels, OfBusiness, BigBasket, Pepperfry and Quikr. The firm also advised on the sale of CitrusPay to Naspers – one of India’s largest Fin-Tech M&A, and on the sale of Sokrati to Dentsu – one of India’s largest Digital Media M&A.

Frankie Brown of Investec Capital Services (India) Ltd said

With our unique position in the Indian market, we believe that Investec India is well placed to advise businesses across the Fin-Tech spectrum. We have a long-term relationship with Kissht, and this partnership has successfully resulted in both the Series B and Series C fundraises. The $30 million Series C round will see Kissht perfectly placed to consolidate their market leadership position. Investec is investing significantly in the Fin-Tech space across the both in India and globally.

Vinit Barve of Investec Capital Services (India) Ltd said

Technology led lending has opened up a huge credit opportunity in India. Kissht has established a leadership position in the consumer Fin-Tech segment. With its consistent growth, strong unit economics and enviable NPA record, Kissht has taken the right steps in the direction of building a mighty lending institution. This investment, led by Vertex and Sistema with participation from existing investors, will enable the company to achieve the next level of growth and cement its leadership position in the consumer financing segment.

Founded in 2015 by Krishnan Vishwanathan and Ranvir Singh, Kissht provides product financing and personal loans to its customers through a financial technology platform which is integrated with online and offline merchants. Kissht has developed its own self-learning proprietary algorithm which assesses a customer’s credit profile in a fraction of a second based on 2,000+ digital footprints.

Kissht has demonstrated remarkable growth with impressive record on credit costs. The business had previously raised its Series B round from Fosun RZ Capital, Prophet Capital, VenturEast and Endiya Partners in 2017. Currently Kissht is present in 50+ Online and 2,000+ Offline points of sale across categories including consumer durables, electronics, health, alternative energy & education, enabling customers to easily access credit for their purchases.

Kissht will use this funding to penetrate its business further into both offline and online merchants, and deeper across categories and further enhance its data and analytics capabilities as it seeks to cement its leadership position in the highly under-penetrated Indian consumer credit market, as well as investing further in technology and building the team.

|In: AI|Last Updated: | 0 Comments

Microsoft India and SRL Diagnostics announced their partnership to expand the AI Network for Healthcare to pathology. This collaboration will help improve the quality of digital pathology for population screening by bringing together Microsoft’s Azure and AI innovations along with SRL’s world-class expertise in the study of cells and tissues [histology]. With this addition, Microsoft’s AI Network for Healthcare has now expanded to include pathology along with eye-care and cardiology, thus representing the continued efforts made by the organization to democratize healthcare.

Image Source – HealthCare

Growing prevalence of chronic diseases such as cancer is one of the key factors for the need for pathology to transform. Digital pathology is increasingly being preferred as it has helped bring improvement in service delivery, patient safety and communications while reducing errors and lowering costs. Histopathology is a specialized form of pathology for analyzing tissue biopsies [mounted on glass slides] and is used for detecting numerous diseases. Histopathologists require highly efficient tools to assist in diagnosis, thus augmenting the demand for automated and innovative implementation of cloud and AI.

Commenting on the partnership Anil Bhansali, Managing Director, Microsoft India [R&D] Private Limited, said,

Microsoft is committed to empower both the healthcare industry and patients by using AI to democratize healthcare for all. Our partnership with SRL Diagnostics will assist pathologists by equipping them with technology that will augment their capability. This is the third area where we have expanded our AI Network for Healthcare after eye-care and cardiology. We will continue to look for other areas where we can deploy technology to make healthcare more accessible.

Commenting on the partnership Arindam Haldar, Chief Executive Officer, SRL Diagnostics said

In line with SRL’s vision to help people on their path to better health, we are delighted to be partnering with Microsoft to co-create solutions and generate both social and business value. Diagnosis is the first step to disease management, as without accurate identification of the cause there is no possibility of a precise treatment.

With the growing number of samples of cancer, as well as of other diseases, there’s a need to quickly and accurately analyze the samples to help doctors arrive at a diagnosis faster. The AI platform that Microsoft will build in collaboration with SRL is expected to create a software environment infused with millions of data points and knowledge gained from SRL’s expert laboratory professionals.

Microsoft AI Network for Healthcare aims to maximize the ability of AI and cloud computing to accelerate innovation in the healthcare industry and improve the lives of people around the world. By working side-by-side with the healthcare industry’s pioneering players, Microsoft is bringing its capabilities and applying AI to devices for early detection of diabetic retinopathy to prevent blindness. Microsoft has also recently launched an AI-powered Cardiovascular Disease Risk Score API for Indian population.

As the largest diagnostic laboratory in the country, SRL Diagnostics has a repository of more than a million histopathology slides which would be used for training an AI algorithm. By increasing efficiency in the initial steps in a biopsy tissue analysis through artificial neural networks, it will be possible for a histopathology laboratory to cut down on inadvertent manual errors and process more samples in a day with higher level of accuracy.

|In: General|Last Updated: | 0 Comments

Are you on a lookout for a sofa online? Great. Sofa is an integral part of your home.  It’s a great equalizer. It’s an excellent option to increase seating space and your social status. Choosing a sofa set wisely means you are going to invest in a piece of furniture that will last you and your family for many years.

Image Source – Sofa

Listed below are five smart tips to buy sofa set online.

Consider a sturdy frame

Solid wood construction is durable and long-lasting. It’s cheap and best quality. Though pine is softer and affordable option, it may warp or buckle after a few years. So, when choosing a sofa set online, make sure its frame is sturdy and made of solid wood and metal.

Know your joinery

It is essential to know the method by which the frame is joined at the corners. When choosing a sofa, you should consider corner blocks, wooden corner blocks, wooden dowels, metal screws with brackets. These are the quality joints. It’s essential to avoid a sofa that’s solely held together with nails, staples, or glue. These elements are used to reinforce a frame.

Buy sofa set online
Image Source – HomeTown

Hand-tied springs are best

Hand-tied springs are the creme-de-la-creme of sofa springs. They’re generally durable comfortable and very well constructed, with a price tag to match. If you go for the less expensive materials, the chances are that you’d not get the right products. So, don’t go for the price, but go for the quality.

Check Back

When buying a sofa, you should consider its back. It should be stable and sturdy, ensuring the back of the couch is robust and strong. When the sofa is delivered to you, pat the center of its back to confirm it is not hollow. A good sofa has a strong back with cushioning.

Comfortable Seats

If you want to bring a recliner or comfortable seat, make sure the seats are comfortable in all positions. Check the height color, materials, etc. You can choose from thick or shallow seats. For more height, go for a deeper seat.

To conclude, a sofa is one of the most important pieces of furniture for your home. When you shop for it online, you should consider all the points mentioned above to choose the right products.

|In: General|Last Updated: | 0 Comments

You spend a third of your life in bed. So, it’s important to choose the right product. Using wrong bed may lead to ample health problems, including back pains, sleep insomnia, sore muscles, and many others. Not only that, but a good quality bed also adds excellence to your home décor. It keeps your home clutter-free, etc.

Image Source

Here some smart tips to buy the right quality bed online.

Choose a bed together

Are you going to share a bed with your partner? If so, you should seek his/her company while selecting a bed. This allows for picking the right furniture online and lets you have comfy enough for both of you.

Measure Room Size

Before bringing a bed, measure the size of your room. For a small room, a single bed would go well. For proper relaxation, you need to have a reasonable space around your bed. So, consider the overall bedroom size before picking your bed.

buy bed online
Image Source – Home Town

Storage Beds

If you can’t place a big wardrobe in your room, consider choosing a storage bed. This will allow you to put your space sheets, cushion, pillows, blankets, quilt, etc. A storage bed comes with plenty of space to store your things in an easy and convenient way.

King or super king beds

King or super king beds are suitable for a big or reasonable size bedroom. If you think your partner is taking up all the space in the bed, then go for king size or super king size beds. King size beds are also an apt choice for comforts.

Kids Beds

You should not overlook the importance of kids’ beds. After all, your children should also enjoy comfortable and sound sleep. The beds should be well-designed, colorful and low height. Low height allows kids to get on and off the bed. Also, make sure the kids’ beds have drawers, cabinets in its frame to keep toys, and other materials.

Mattresses

Whether you are buying beds online or offline, never choose your beds without thinking about the mattress. You should know that spring mattresses are suitable for spring beds whereas salt beds go well with foam mattresses. If possible, it’s advisable to buy a new bed and a new mattress at the same time.

In summary, whether want to buy a bed online for your bedroom or living room, you should always consider all the points mentioned above. This will enable you to choose the right beds for  your home.

|In: Entrepreneurship|Last Updated: | 0 Comments

NSRCEL the startup hub at the Indian Institute of Management Bangalore has incubated over 225 startups, created over 5400 direct jobs and associated with roughly 46,000 entrepreneurs. Its ventures have a total portfolio of over $1.5 billion. As NSRCEL readies itself for the future its new logo and website reflects its transition, scale and trajectory of growth.

The increased scale & scope of operations include NSRCEL preparing to mentor 4000 entrepreneurs, to launch 3-5 new programs supported by industry partners and to incubate 200 new ventures. The new logo and website mirrors the centre’s value system of being an open incubator, sector agnostic, agile and flexible. It has been running incubation programs for women, social sector, engineering students within and outside the IIMB community. It has been successful in bringing together innovators, academicians and industry giants to create a real-world impact in the entrepreneurial community.

Sharing NSRCEL’s future plans at the launch of the new logo and website of NSRCEL, here on campus today, the NSRCEL Chair and faculty from the Entrepreneurship area at IIMB, Prof. Suresh Bhagavatula, said

Success stories are important, but impact made on society is more significant. Future businesses must have a commitment to the environment. India has so many social challenges. That is why NSRCEL encourages social and women entrepreneurship. We are the first incubator in the country to have started incubating social impact ventures, and we hope to build on all these positives in the coming year.

In 2017, NSRCEL was selected by NITI Aayog’s Atal innovation Mission as one among the top 10 incubators in India. It partners with government bodies, global corporations and foundations for it programs. In 2018, Department of Science & Technology, Government of India [DST] also joined in to support its initiatives.

The India Innovation Design Challenge [IIDC] was launched with Texas Instruments for engineering students. Women Startup Program [WSP] with support from Goldman Sachs and the DST, and the social venture incubation program with support from the Michael & Susan Dell Foundation, the Mphasis Foundation, and the Ford Foundation.

The centre has on board a panel of over 50 mentors that include entrepreneurs, IIMB alumni, academicians, investors and industry veterans. Private equity, venture capital funding and government support has led to the growth of a number of start-ups making Bengaluru the startup capital of India. Capitalizing on this opportunity the scale and scope of NSRCEL’s operations has also grown exponentially.

Rajiv Sawhney, Chief Operating Officer of NSRCEL, said

An idea is at the centre of everything at NSRCEL. Every person that walks through the door with an idea will be assessed on two parameters – willingness and ability. At NSRCEL, we believe that these two aren’t mutually exclusive. If you have the willingness and the passion, with a gentle nudge, you can learn skill and ability. Our job is to focus on helping every venture, that incubates with us, take the next logical step.

The well-known startups that began their journey at NSRCEL include global private equity (PE) major KKR backed Amagi, Mango Technologies that was acquired by Qualcomm, One Click that got sold to Freshdesk, among many others. The centre is betting on the success of some of its newer ventures that include Milaap, Vsnapu, Settlrs, Automoville, GoDesi, Tenexer, Zoojoo.be

With plenty of plans in store, NSRCEL will work with entrepreneurs to help them build successful business models. It is also looking to add its network of mentors, partners and build an ecosystem for ventures.

|In: Technology|Last Updated: | 0 Comments

Truecaller announced the significant success brands have seen on its Advertising Platform. Truecaller Ads, a uniquely designed platform, not just captures the attention of users without invasion or interruption, but also eliminates the appointment viewing condition for brand visibility. Its programmatic advertising strategy has generated a repeat customer rate of 70% among existing advertisers, helping companies reach their audiences.

Companies are increasingly showing an appetite for Truecaller’s unique programmatic ads and with the festive season around the corner, brands and verticals are looking at in-app advertising platforms to enhance brand visibility and drive scalability.

Talking about his experience, Amit Tiwari, Vice President Marketing, Havells India Ltd,said

This is the first time we used Truecaller as an outreach platform. It provided us with a large-scale India-wide reach of over 40 million unique users in a single day. We used it as a platform to connect with our potential customers and received genuine responses from quality audiences.

Commenting on his interaction with the platform, Sidharth Rao, CEO, Dentsu Webchutney, said

We have always recommended Truecaller to our advertisers and have consistently seen the platform over-deliver its commitments. With the help of Truecaller, our client’s messages have been delivered to their users through a brand roadblock with absolute simplicity. We have had a remarkable experience in marketing several product categories such as automobile, OEM and consumer tech to name a few through this platform. We believe Truecaller will play an integral part in our media buys for the upcoming festive season of 2018, with more of our clients looking to showcase their own unique stories.

With the growth of internet penetration in the country, mobile specific advertising will dominate the digital advertising space in the years to come. Truecaller reaches 100 million daily active users allowing brands to gain phenomenal traction for their campaigns on the platform.

Tejinder Gill, VP Sales & Head of India Operations at Truecaller, said

Our advertising platform has achieved some great feats since its inception, especially since the unique ad delivery system which enables a brand visibility after every call from an unknown number. With marketers and CMO’s shifting their strategies from mobile first to mobile only, advertising platforms such as ours are best placed to help achieve their objectives. Around the festive season when audiences have their eyes wider open than usual, we must work together with our partners to overcome our hurdles and achieve our objectives together. Needless to say, our advertisers have been overjoyed with the results.

More details about Truecaller Ads are available here.

|In: Finance|Last Updated: | 0 Comments

SIP is an acronym for Systematic Investment Plan which is essentially a process that involves investing a certain amount that remains fixed regularly in a scheme akin to those in mutual funds. Imagine the process of paying monthly installments against a loan that you have taken – only you will be paying these installments in case of a SIP Investment, in a mutual fund. Let’s dig deeper!

Image Source – UTI Swatantra

How to start A SIP

  • One of the mandates you must be aware of is the fact that the SEBI has deemed it necessary to have an initial process wherein getting to know each of the customers will play an important role in investing in mutual funds. You will, therefore, be required to go into the website and fill out a basic form in addition to submitting some of your documents. Once verification of your documents uploaded online is finished, your process of KYC will have been completed.
  • Making an informed choice about the kind of SIP investment, or portfolio of SIPs you should go for will also benefit you infinitely. This is to say that it is best to identify a mutual fund that is in keeping with the age at which you are, and your financial as well as investment requirements. In case you find yourself confused between the options of mutual funds that are best suitable for you, it will be advisable for you to speak to finance experts who will take into consideration, with greater detail, the growth plans that you can securely go for.
  • After you have successfully identified the most suitable SIP investment plan for you, you will be required to decide and put together the amount. It is advisable to make a portfolio of the mutual funds that you have in mind and come up with a single transaction which will start SIP inside all of these mutual funds. Once the first installment goes out, the second time onwards, it goes into auto investment mode and it is possible for you to check your growth in the dashboard provided.

Types of SIPs that you can invest in

It is important that you are aware of the fact that there are three types of SIPs that you can invest in and they are weekly, monthly and quarterly. In a country like India where salaries are usually afforded on a monthly basis, it is wise to go for the monthly scheme given that it will be added to the list of your utility bills which also come monthly. Additionally, there are also the following kinds of SIPs based on the changes you can make to it over the period of investment

  • Top up SIP that allows you to increase the installment amount of a particular mutual fund that has the potential to do well.
  • Flexible SIP wherein you can increase or decrease the installment that you pay depending on your cash flow at regular intervals.
  • Perpetual SIP that enables you to not enter an end date for your investment at the time of opening the account, so that you can continue it till or withdraw when your financial goals have been achieved.
  • Trigger SIP which will require you to have expertise in making speculations about the financial market.

It must be understood that SIP investment schemes makes it possible for you to accumulate a substantial amount of wealth in the long term scenario. So make sure you tread responsibly while building your financial portfolio through SIPs.