Category: Business News

India, 2024: CoinSwitch, India’s largest crypto trading platform, announces crypto futures trading on its PRO platform. This new feature offers a versatile trading experience for selected users, allowing them to maximize their trading potential with leverage up to 25x. With CoinSwitch futures, users can trade in over 350 contracts including BTC, ETH, SOL, MATIC, XRP, and more.

CoinSwitch Futures enables users to take long (buy) or short (sell) positions on perpetual futures contracts and can also hedge their spot holdings. The platform is distinguished by its competitive commission rates, ensuring users benefit with the lowest fees in the market. Additionally, new users can avail 100% commission rebate for the first 15 days.

“The launch of CoinSwitch Futures aligns with our mission to provide a comprehensive suite of crypto investment and trading options to our users. By offering leveraged futures contracts, we aim to cater to the needs of sophisticated traders seeking to capitalize on price movements in the dynamic crypto market,” said Balaji Srihari, Business Head, CoinSwitch.

Users can seamlessly access futures trading through both mobile and desktop; to start they have to sign up or log in to their existing CoinSwitch PRO accounts.

Last month, the company also announced specialized crypto investment services tailored for High Net-Worth Individuals (HNIs) and institutional investors; with an aim to provide secure and customized solutions to users. The platform has over two crore registered users and has raised $260 million in Series C funding from Coinbase Ventures and Andreessen Horowitz (a16z) in September 2021 to become India’s most-valued crypto Unicorn at a valuation of $1.9 billion.

Coinswitch Announces Crypto Futures With 350+ Contracts

Swiggy One and One Lite members now enjoy exclusive offers on Yatra, Cinepolis, Amazon Prime, Disney+ Hotstar and more this festive season

India, 25^th September 2024: Swiggy, India’s pioneering on-demand convenience delivery platform, today announced the addition of “Privileges” to its Swiggy One and Swiggy One Lite membership programs. With millions of subscribers nationwide, Swiggy One is the country’s only membership program offering benefits across food, quick commerce, dining out and pick-up and drop services. By going beyond the app through strategic partnerships with Yatra, Cinepolis, Amazon Prime, Disney+ Hotstar, and more, Swiggy One enhances its offerings with exclusive privileges.
Extending Swiggy One privileges beyond the Swiggy app

Swiggy One Privileges brings exclusive offers and perks that extend beyond Swiggy’s multiple offerings, bringing users the best from Swiggy’s partners across travel, entertainment, OTT, shopping and beauty categories to elevate the Swiggy One member’s experience by focusing on every aspect of their lives.

In travel, Yatra offers exclusive value-added services such as free cancellation, free seat, or free meal selection on flights to Swiggy One members. In entertainment, Cinepolis offers an exclusive Flat 30% discount on movies and food & beverages on their website and app bookings. Additionally, members can also enjoy a flat 25% discount on food and beverages at the Cinepolis F&B counter.

Swiggy One members also have exclusive offers from popular OTT platforms such as INR 150 discount on Amazon Prime, 50% discount on the Disney+Hotstar 3M Super plan, and Buy 1 Get 1 month or Buy 12 Get 3 months offers on SonyLiv Premium plans.

Croma is offering an exclusive 7.5% discount on purchases of INR 30,000 and above at any of its stores. Hamleys is offering free entry to the play arena across their major outlets. On beauty and fashion, Swiggy One Privileges extend to brands like Ajio with a flat 20% off on select merchandise and Lakme with a complimentary waxing on facial service.

Commenting on the added Privileges to the Swiggy One membership program, Anurag P, VP of Growth at Swiggy said, “With millions of users across India, Swiggy One and Swiggy One Lite stand apart for the benefits they provide across fast-growing categories like food delivery, quick commerce, and dining out. We are now making Swiggy One bigger and better through Swiggy One Privileges which has offers spanning high-usage categories such as OTT, travel, fashion, beauty, and more. With these added privileges, Swiggy One will further enhance its standing as the most exciting and rewarding membership program in the country, bringing to life Swiggy’s mission of elevating the quality of life for urban consumers by offering unparalleled convenience.”

How to avail Swiggy One “Privileges”

Members are regularly notified of the latest privileges through homepage notifications, post-order updates, and the newly added ‘Privileges’ section within the Swiggy One and One Lite membership pages. Redeeming offers is simple: members can unlock unique codes via the ‘One Membership Privileges’ section and redeem them directly on partner apps to enjoy offers and benefits. This one- step process keeps members informed and engaged throughout their membership, with multiple touch points guiding them to avail these time-bound exclusive offers.

About Swiggy One and One Lite Membership

Swiggy One and One Lite memberships already provide core benefits such as free delivery and attractive offers on Swiggy Food, Swiggy Instamart, Swiggy Dineout, and Swiggy Genie. Now, with the addition of membership privileges, members can access third-party ephemeral offers like free trials, subscription discounts, and exclusive promotions that add further value to the Swiggy One membership.

 

Swiggy One Introduces New “Privileges” With Partners Like Yatra, Cinepolis, Amazon Prime, Disney+ Hotstar, And More

Around 36% of the total users are first-time investors

India, September 11, 2024: PeepalCo’s investment app, Lemonn has acquired five lakh users in the first five months of the launch. Designed to simplify investing for first-time investors, Lemonn offers options to invest in mutual funds, direct stocks, IPOs, and trade in Futures and Options (F&O).

“At Lemonn, our goal is to make investing simple and accessible for everyone. Reaching five lakh users in just five months is a strong indicator that we’re on the right path. We’ve designed our platform to empower young individuals to take advantage of the investing opportunities and secure their financial future,” said Ashish Singhal, Co-founder, Lemonn.

“As we move forward, we’ll continue to enhance the user experience while staying committed to our mission: making financial opportunities equal for all,” he added.

The platform’s intuitive design and valuable features have strongly appealed to investors, with about 36% of total users being first-time investors. About 68% of these investors are from tier 2 and 3 cities and 65% of the users are between the age group of 18-25 years, showcasing the app’s effectiveness in catering to a diverse audience. Ahmedabad, Jaipur, Bardhaman, Nadia and Murshidabad are among the top 10 cities for the platform.

Commenting on the milestone, Devam Sardana, Business Head, Lemonn said “We are thrilled and deeply grateful for the warm reception Lemonn has received, especially as a late entrant in such a competitive market. A substantial portion of our user base consists of first-time investors, presenting us with the opportunity to build long-term relationships. The trust our users have placed in us motivates and drives us to consistently deliver exceptional service.”

Lemonn offers zero maintenance and account opening fees, with the additional benefit of zero brokerage for one month for new users.

Lemonn Has Acquired Over Five Lakh Users In The First Five Months Of Its Launch

With the Ganesh Aarti, Vivek Oberoi marks the inauguration of Solitario’s ‘Bling Better’ India Tour

India, 9^th September: In a momentous event today, Bollywood actor and co-founder of Solitario Lab-Grown Diamonds, Vivek Oberoi, humbly presented a 66-carat tilak, complete with 68 lab-grown diamonds to Sri Dagadusheth Halwai Ganpati, the most revered Ganpati Mandal in Pune. This ceremonial offering, held during the Ganpati Aarti, commemorates the 133-year legacy of the Ganpati Mandal and marks the beginning of Solitario’s ‘Bling Better’ India Tour this September.

Vivek Oberoi, accompanied by Ricky Vasandani, CEO and Co-Founder of Solitario Lab-Grown Diamonds, sought Bappa’s blessings during the Aarti. Speaking on the occasion, Oberoi expressed his gratitude, saying, “We started with humble beginnings in Pune, and have now scaled to over 7 countries and 21 cities across the globe, which could not have been possible without Bappa’s grace. As Solitario continues on its path of growth, we seek Bappa’s blessings again to help us reach newer heights.”

Solitario Lab-Grown Diamonds which was one of the first jewellery brands from India to be featured on the Burj Khalifa in Dubai,  has established itself as a leader in the eco-friendly, conflict-free diamond industry. With a strong presence across key Indian cities, including Pune, Goa, Mumbai, Lucknow, Chandigarh, Hyderabad, Bangalore, and Chennai, Solitario also boasts international stores in Spain, the Bahamas, Nigeria, Malaysia and Dubai.

As the Brand Ambassador and Co-Founder, Vivek Oberoi plays a pivotal role in the brand’s growth alongside Co-Founders Ricky Vasandani and Satish Daryanani. The ‘Bling Better’ tour will see Oberoi visiting Pune, Bangalore, Chennai, and Delhi, where he will oversee festive preparations, store efficiencies, and go-to-market strategies ahead of the upcoming season.

Speaking about the brand’s extensvie festive schedule, Ricky Vasandani added, “Solitario is committed to redefining how Indian customers experience diamonds. From our thoughtful designs and unmatched quality to our exceptional value offerings, we’ve crafted a unique identity that resonates with modern, eco-conscious consumers. Our lab-grown diamonds represent luxury that is both timeless and ethical, designed to be cherished for a lifetime. With Vivek visiting the stores during his tour, our zeal to continuously deliver unique offerings to our customers has been renewed.”

As part of the tour, Vivek Oberoi and Solitario will host a Diamond Party at Phoenix Marketcity, Bangalore, followed by a Diamonds and Denim Party at Phoenix Palladium in Chennai.

Vivek Oberoi’s 66-Carat Lab-Grown Diamond Offering Kicks Off Solitario’s   BLING BETTER Tour

~Processed over six lakh transactions, onboarded more than 40,000 merchants, and operates in over 220 pin codes across 19 states

Mumbai, 28^th, August 2024: Ayekart, an agri and food supply chain platform focused on empowering businesses and supporting communities with technology, embedded finance, and value-added services—particularly for FPOs and MSMEs—has announced its robust financial results for FY 2023-24. Since its inception in December 2020, the company has processed over six lakh transactions, onboarded more than 40,000 merchants, and operates in over 220 pin codes across 19 states.

The company’s audited financial performance approved by the board highlights its significant growth, as demonstrated by its strong financials. Gross margin increased substantially from Rs.19 Cr to Rs.45.10 Cr in FY23-24, marking a compound annual growth rate (CAGR) of 379% from Rs.3.13 Cr in FY 2021-22. In FY 2023-24, EBITDA surged to Rs.17.64 Cr, up from Rs.5.97 Cr in FY 2022-23 and Rs.1.02 Cr in FY 2021-22, indicating a CAGR of 415%. Profit Before Tax (PBT) rose from Rs.0.18 Cr in FY 2022-23 to Rs.1.49 Cr in FY 2023-24, while Profit After Tax (PAT) increased from Rs.0.08 Cr in FY 2022-23 to Rs.1.17 Cr in FY 2023-24. The Gross Transaction Value (GTV) for FY 2023-24 reached Rs.1,558 Cr, up from Rs.657 Cr in FY 2022-23.

In the past six months, Ayekart raised ~Rs.54 Cr in equity, including ~Rs.45 Cr in primary funding and ~Rs.9 Cr in secondary funding from venture capital, bolstering its expansion initiatives.

Debarshi Dutta, Co-Founder & CEO, stated, “Our remarkable growth reflects our strong commitment to leveraging technology and forming strategic partnerships that empower businesses across the food and agri value chain. At Ayekart, we provide comprehensive support in capacity-building for farmers and FPOs while creating both backward and forward linkages for manufacturers and processors to enhance market access and operational efficiency. Through our platform, we are focusing on building a robust distribution and retail network to reach the last mile. This integrated approach drives productivity, fosters sustainable growth, and significantly impacts lives and livelihoods.”

 

Ayekart Accelerates Growth, Records Strong Results For FY 2023-24

Accenture invests in ANSR to launch suite of GCC Services, join its board of directors

India; July 26^th, 2024 –ANSR, a leader in developing strategic Global Capability Centers (GCCs), and Accenture, a leading global professional services company, have announced a strategic alliance to help clients design, set up, and optimize global teams for technology and business functions. Accenture also has made an equity investment in ANSR, and in connection with that investment, will join the company’s board of directors. The alliance combines ANSR’s expertise in building GCCs for Fortune 500 companies and others with Accenture’s extensive capabilities in enterprise reinvention. 

“We are excited to be embarking on the next phase of ANSR’s growth with our strategic alliance with Accenture. Accenture’s leading-edge solutions, C-suite partnerships and deep industry experience, perfectly complement ANSR’s position as a trusted partner for the Fortune 500 and others in building, managing, and scaling Global Capability Centers,” said Vikram Ahuja, co-founder of ANSR. “Now, together with Accenture, we’ll equip companies to reinvent their business models by scaling GCCs using a strategic ‘best-sourcing’ approach.” 

Founded in 2015 with headquarters in Dallas, Texas and significant operations in India, ANSR has pioneered the GCC space with end-to-end services offering businesses the opportunity to efficiently build, manage, and scale GCCs in talent-rich hubs. ANSR provides comprehensive, enterprise-ready solutions for talent, workspace, HR and GCC operations. 

“In today’s talent-challenged environment, GCCs have become an effective way for global organizations to tap into valuable, diverse talent networks, drive long-term growth and innovation, and ensure resilience – all while maintaining their distinct corporate cultures and values,” said Paul Jeruchimowitz, a senior managing director with Accenture Strategy. “Our collaboration with ANSR builds on our global technology, talent and industry capabilities with specific services tailored to companies looking to take advantage of a GCC as part of their talent strategy.”  

The services will be underpinned by Accenture’s technology, data and AI-powered capabilities and innovation architecture to help clients run their GCCs as effectively as Accenture has operated its own global delivery centers, enabling global organizations to tap new sources of talent, accelerate their reinvention efforts and drive growth.  

About ANSR

ANSR, an Accel Ventures portfolio company is the market leader in enabling organizations to build, manage and scale global teams through Global Capability Centers (GCCs). ANSR’s suite of end-to-end AI-enabled products and services are trusted by the world’s best companies to help them setup, manage and run their high-impact technology centers. Since its inception, ANSR has established over 120 GCCs aggregating to over 180k enterprise talent with over $2B in investment and using over 12M sq ft of workspace. Visit ansr.com for more information.

ANSR And Accenture Partner To Launch Unmatched Suite Of GCC Services, Accenture Invests In ANSR And Will Join Its Board Of Directors