All posts by : Empowering Indians

Unmanned Aerial Vehicle (UAV) solutions provider SKYBER Aerospace, known for its deep-tech and AI-driven innovations, has partnered with Sibia Technologies, headquartered out of Dubai, for the sales and services of their UAV products in the Middle East and Africa.

This partnership aligns with the rapidly growing demand for UAV technologies in the Defense as well as commercial segments in the MEA region. The multi-year partnership is structured to cover multiple aspects of the UAV industry, including product sales, service and maintenance, training and operational support and technology integration.

SKYBER Aerospace will supply high-performance UAV systems and innovate to meet the region’s specific demands. Sibia Technologies will manage local sales, service, customer relationships, marketing efforts, and regional supply chain logistics.

With an expected market size of $5.3 billion by 2029, the region presents vast opportunities in both government and commercial sectors. “Countries like the UAE, Saudi Arabia, Qatar, and parts of Africa are expected to be significant consumers of UAV technology due to their increasing Defense budgets, need for border security, and investments in modern technology for commercial sectors. The partnership between SKYBER Aerospace and Sibia Technologies represents a significant step towards tapping into the burgeoning UAV market in the Middle East and Africa,” said Joseph George, co-founder and CEO, SKYBER Aerospace.

The partnership aims to secure large Defense contracts, address commercial needs in the oil & gas, construction and agriculture sectors, and maintain technological leadership in UAV solutions. Sibia Technologies will leverage its existing partnerships with the leading telecom operators in the Middle East and Africa region to enable UAV solutions using public and private 5G networks.

“We are happy to announce this partnership with SKYBER Aerospace. It’s a symbiotic relationship where companies leverage their strengths to grow in a competitive market. We will be taking an integrated role in delivering the UAV systems and managing post-sale services like training operators, providing support services, performing post-sales engineering support, and ensuring regulatory compliance.” said Nour Al Atassi, CEO, Sibia Technologies.

The partnership will also involve localizing SKYBER Aerospace’s UAV platforms to suit regional needs. For example, UAV systems might be adapted for better performance in extreme weather conditions like high temperatures and dust storms or specific industries like oil and gas exploration or agricultural and construction mapping.

Clients in the Middle East and Africa will benefit significantly from localized support, ensuring faster response times, on-the-ground maintenance, and readily available spare parts. By establishing regional training centers, operators can improve their skills, enhancing the usability and safety of UAV systems.

Additionally, clients will receive assistance in navigating local UAV regulations and obtaining the necessary permits, reducing potential hurdles. This partnership aims to minimize downtime and operational disruptions, making UAV solutions more cost-effective. Furthermore, customized military UAV systems will provide enhanced data security and seamless integration into regional defense systems, offering tailored solutions for the specific needs of these markets.

The partnership is also focused on bringing innovative products to the market, such as fully autonomous drones that can operate without human intervention. These drones will feature advanced AI-driven navigation and decision-making systems. Future UAVs could be equipped with high-precision sensors and long-range surveillance capabilities, making them ideal for military and security applications.

Drone-swarming technology is another promising development that could enhance surveillance, Defense operations, and disaster response efforts. The companies are also working on precision agriculture, construction monitoring, and cargo and delivery drones.

SKYBER Aerospace has also been focusing on full-stack solutions incorporating next-gen technologies, including hybrid-powered UAVs and enhanced AI-enabled edge computing chipsets, reflecting their commitment to pushing the boundaries of UAV technology through intense research and development commitment.

The focus for the next five years will be to establish leadership in the MEA market, expand product portfolios, set up local manufacturing facilities, and work on diversifying UAV applications

Cosmic PV Power, a leading Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) in solar panel manufacturing, has secured a significant lead investment from Chanakya Opportunities Fund I, led by CA Kresha Gupta.

Renowned for its excellence in the production of high-quality solar panels, Cosmic PV Power provides its OEM and ODM services to various clients while also selling solar panels under its own brand.

Founded by Jenish Kumar Ghael & Shravan Kumar Gupta in 2020, Cosmic PV Power Private Limited’s solar vertical produces polycrystalline and monocrystalline and Topcon solar panel with capacity up to 580KWp. Equipped with Mono-Perc and Topcon technology, Cosmic PV Power operates a manufacturing facility with a capacity of 600MW, positioning it as a key player in India’s renewable energy sector.

“We are excited to have Chanakya Opportunities Fund as an investor, supporting our mission to expand our manufacturing capacity from Megawatt to a Gigawatt Factory. This investment reinforces our commitment to driving India’s clean energy transition and sustainable growth as we continue to innovate and expand Cosmic PV Power’s footprint in the solar industry.” said Shravan Kumar Gupta, Director, Cosmic PV Power Private Limited.

Chanakya Opportunities Fund is India’s first SEBI-registered CAT II fund focused on the SME Exchange and Microcap Segment. The fund is being managed by StepTrade Share Services Pvt. Ltd. (Investment Management Entity).

Investment management firm StepTrade Share Services recently made a significant global leap with the launch of  ‘Steptrade India Fund’ through GIFT city. This fund allows global investors to tap into India’s burgeoning SME sector and positions Steptrade as a key player on the international stage.

Steptrade holds licences across AIF categories and is certified to provide Portfolio Management Services. Building on the success of the Chanakya Opportunities Fund and the Steptrade Revolution Fund, Steptrade is driven by a bold vision to become the largest Asset Management Company (AMC) dedicated to empowering SMEs.

Speaking on the investment Kresha Gupta, Founder and Fund Manager, Chanakya Opportunities Fund said “Our investment in Cosmic PV Power is the testament of our vision to support clean and green India.”

GSTN introduced a new application ‘Invoice Management System’ dated September 3, 2024, to bring more transparency to the existing Input tax credit mechanism. This application will go functional with data being provided from GSTN starting 14th of October.

Cygnet.One, a leader in digital compliance solutions goes LIVEwith its Invoice Management System (IMS) on 12th of October 2024, marking a significant milestone as the first ASP-GSP platform.Starting today, allEnterprises customers will be ready to experience a robust Invoice management system.

Our Founder & MD Niraj Hutheesing quotes, “This launch underscores our commitment to transforming the GST compliance landscape through cutting-edge technology aligned with the vision of the GSTN (GST Network).”

The new IMS system streamlines GST processes, ensuring full compliance and transparency with tax authorities. It shall offer the recipients to accept, reject and put on hold (pending), such actions to help compute GSTR 2B.

To enable the above exercise, Cygnet Tax platform will help carry out inbulk &one-to-one pre-reconciliation action prior to IMS. It will also help provide a communication/notification module to the counterparty to enable seamless corrective actions.

IMS is an ideal system which provides a single source if truth where all Input tax credit related data is available at one place. Cygnet will help ease turnaround time of purchase invoice digitization which is critical for IMS actions.This system is designed to address common issues such as data entry errors, delayed approvals, and incorrect tax deductions, which can lead to non-compliance and penalties.

Cygnetis dedicated to revolutionizing business process transformation and digital compliance through our comprehensive compliance solutions not just in India but globally. Our solutions also offer purchase digitization, enables 99% reconciliation, streamlines accounts payable, enables accurate litigation management, ensures global e-Invoicing & VAT compliance in major regions that eases tax operations beyond compliance.

Cygnet.One’s Tax platforms leverages advanced technologies such as AI/ML and real-time data validations. It seamlessly integrates with ERP systems to manage large volumes of invoices, ensuring accuracy and timeliness. The system automates vendor data mapping, classifies transactions, and suggests appropriate tax deductions and reconciliations, alleviating the burden on finance teams.

Evenflow, India’s leading house of brands and the only profitable player in this space globally, has raised an undisclosed amount in a bridge round from serial entrepreneur Shail Patel and some existing investors as a part of its ongoing Series A round of $5 million.

The new funds will be used to expand operations and grow all seven acquired homegrown brands — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. Evenflow plans to expand the global presence of these brands by entering more countries.

Currently, the brands are present in India and the US, and they have experienced a healthy 350% growth by selling their products on online marketplaces. Evenflow brands sell across various platforms such as Amazon, Flipkart, CRED, Zepto, Instamart, and others.

Founded in 2021, Evenflow has received funding from 100unicorns, Village Global, Equanimity, Kunal Shah, Vijay Shekhar Sharma, Emil Michael, Sandeep Varaganti, SrinathRajam, and many others in a several rounds.

“Currently, we view ourselves more as a mutual fund than a high-growth stock. Our focus is on low risk and stable returns, rather than high risk and volatile returns. This approach is in line with the preferences of our current investors and Shail Patel, which is why they have shown confidence through their investment. We are excited to utilize this capital for our people and for growth, and ultimately prepare for an IPO by the end of 2027,” said Utsav Agarwal, CEO and Co-founder of Evenflow.

Evenflow aims to increase its revenue by 10x and profits by six-fold by 2027 through building a strong core team, scaling the business, and maintaining a healthy bottom line.

The new fund raise comes in a week after, the Bengaluru-based startup Evenflow announced strengthening its leadership team with 4 key hires across supply chain, marketplaces, D2C and quick commerce verticals, and a month after it promoted Shashank Ranjan as its co-founder, who had joined Evenflow in 2022.

On backing Evenflow, Shail Patel, Director at Adjavis Venture Limited, said, “India is going through a massive shift in the adoption of challenger brands across categories. It presents a unique opportunity over the next decade to build everyday brands that turn into household names. Evenflow is capitalizing on this very opportunity with positive unit economics, and hence I am excited to back them.”

Adjavis Venture Limited is a leading personal care company set up in 2013 by Devendra N. Patel, ex-promoter of Paras Pharmaceuticals which was acquired by the British consumer goods major Reckitt Benckiser in 2010.

Journey of Adjavis began with a successful launch of LAYER’R Wotta girl, India’s very first body splash brand for women along with other skin care products followed by LAYER’R SHOT, body spray brand for men.

Invest4Edu, India’s leading education planning company, has appointed Manish Sahijwani as its Chief Business Officer – Financial Services.

Manish brings with him 20 years of experience in financial planning and wealth management for family offices, institutions, and ultra-high-net-worth individuals. He excels in building teams and launching new products and services.

Known for his client-focused approach, he has a track record of aligning financial programs with company objectives to achieve strategic growth.

Before joining invest4Edu, Manish has had successful stints as Director at IIFL and Senior Vice President at Indiabulls Securities Limited. He is a certified wealth managerwho holds an MBA in Finance and Marketing.Manish resides in Gurugram with his family.

“I am thrilled to be a part of such a dynamic team. Invest4Edu is a unique platform where you create wealth and opportunities while ensuring a bright future for the next generation. Indians are in the golden period of economic surge to create wealth and meet their life-goals, and I, with everyone at invest4Edu, will be working to ensure that our stakeholders achieve that.” expressed Manish Sahijwani, Chief Business Officer, Financial Services, invest4Edu.

Peeyush Agrawal, CEO & CDIO of invest4Edu, expressed enthusiasm about the appointment, stating, “invest4Edu is now gearing up for scale, and we are delighted to have a seasoned business leader like Manish who brings that expertise to take our mission forward with the required pace and quality service.”

Gemba Capital, India’s leading micro-VC fund, has expanded its Advisory Team by adding Ranjeet Pratap Singh as a Consumer Tech Venture Advisor.

In his advisory role, Ranjeet will guide Gemba Capital’s investment team in evaluating consumer tech deals and mentor portfolio companies with his invaluable insights and expertise.

Ranjeet is the Co-Founder & CEO of Pratilipi, India’s largest storytelling platform across multiple formats and languages. Pratilipi was founded in 2015, and its online literature platform has over 1.5 million writers whose stories are read over 550 million times each month.

The company also owns Pratilipi Comics, Pratilipi FM, IVM Podcasts, and Westland Books. Pratilipi has raised over USD 80 million from investors such as Krafton, Nexus, and Omidyar Network.
An FMS Delhi Alumnus, some of Ranjeet’s angel investments include startups such as Kutumb, Animall, Headout, and Newton School.

“I have always believed that brainstorming with smart founders is a way to give back to the ecosystem and learn fresh perspectives that help me as an operator and a leader. Working with the fantastic Gemba Capital team and its portfolio companies is an endeavour that is going in the same direction. I am a big believer in the Indian consumer internet ecosystem and think dozens of large-scale consumer tech businesses will be built in India over the next decade. I am looking forward to playing a small part in the journey,” said Ranjeet in his new role as an advisor.

Commenting on the engagement, Adith Podhar, Founding Partner at Gemba Capital, said, “It is our privilege to have Ranjeet as part of the Gemba Capital family. He is one of the most prominent founders in the Consumer Tech domain and is an expert in understanding Indian consumer behavior, growth, monetization, etc. His nuanced understanding of the Indian consumer will add immense value to our investment team, LPs, and portfolio founders.”

Govind Lohia, Principal at Gemba Capital, said, “We are elated to have Ranjeet onboard. His operating experience further augments our investment capabilities and portfolio value-add. We are super bullish on the consumer tech domain and continue to partner with resilient founders building in this space.”

Gemba Capital has invested in 50+ startups so far, including Plum Insurtech, Grip Invest, Wint Wealth, Zuper, Navadhan, Volt Money, Showroom, Strata, ClickPost, Eternz, and LightFury Games. They recently received the SEBI License for their second fund of US$30 million, through which they will invest in seed/pre-seed stage startups in Fintech, Consumer Tech, and B2B Platforms.

Evenflow, India’s leading house of brands and the only profitable player in this space globally, has strengthened its leadership team with four key hires in major verticals such as business, category, supply chain, and sourcing.

Evenflow aims to increase its revenue by 10x and profits by six-fold by 2027 through building a strong core team, scaling the business, and maintaining a healthy bottom line.

The company has hired Priyesh Singh from Decathlon to expand its supplier network and enhance supply chain efficiency in India. Aparajitha Vijayaraghavan from Dunzo will lead the quick commerce segment, and Prashant Agarwal will head its marketplace and D2C business.

Prashant has worked in both offline and online segments in his prior roles, bringing the right blend of online and offline experience from his earlier positions at Hopscotch, ABFRL, and Titan.

The company also hired former HP project manager and a D2C entrepreneur Ruchi Shaikh to oversee the growth of BabyPro and CRED as a strategic channel for importance and growth.

The move comes in a month after, the Bengaluru-based startup Evenflow promoted Shashank Ranjan as its co-founder. Ranjan, who joined Evenflow in 2022, was the head of sourcing at the company and had earlier worked with brands like Udaan and Decathlon.

“We have made significant progress in the past 24 months. We have gone from losing $200k per month to becoming profitable, which has been quite a journey. As we examine our business today with a perspective of 4 years into the future, it is crucial to focus on building for scale and prioritizing the 3Ps (People, Process, Product). I’m thrilled to welcome Priyesh, Prashant, Aparajitha and Ruchi to Evenflow. Their diverse experiences adds a new dimension of thought, process & execution – and I look forward to working closely with them,” said Utsav Agarwal, CEO & Co-founder at Evenflow.

Founded in 2021 by Utsav Agarwal, a former executive at Uber and Glovo, Evenflow has received funding from 100unicorns, Village Global, Equanimity, Kunal Shah, Vijay Shekhar Sharma, Emil Michael, Sandeep Varaganti, Srinath Rajam, and many others.

It has acquired seven brands — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro and Frenchware, in the home & kitchen, sports & fitness, and baby care categories and has expanded its presence in India and the US. The company has seen a healthy 350% growth by selling its products on online marketplaces.

Evenflow brands sell across various platforms such as Amazon, Flipkart, CRED, Zepto, Instamart, and others.

Annu Projects Limited, a top-tier provider of telecom network construction solutions on a turnkey basis, has raised Rs 5 crore in funding from Chanakya Opportunities Fund, a SEBI-registered Category II Alternative Investment Fund (AIF) that specializes in SME investement , through a preferential issue.

The funds will be instrumental in advancing Annu Project’s strategic initiatives, meeting its working capital requirements, and ensuring high-quality services across its core sectors.

Annu Projects, formerly known as Annu Infra Construct India Pvt., specializes in developing, and maintaining critical infrastructure across diverse sectors, including telecommunications, sewerage systems, gas pipelines, and the power sector.

“This investment from Chanakya Opportunities Fund will enable us to strengthen our market position and drive sustained growth in these essential areas. The investment is a testament to our vision and the strength of our team. This collaboration will fuel our growth, enhance our capabilities, and drive us closer to our goal of delivering exceptional value to our stakeholders,” said Sanjay Saraf, Director, Annu Projects Limited.

Founded in 2003, Annu Projects has successfully executed projects for significant government entities involved in telecom and infrastructure projects.

In the fiscal year 2023-2024, the Ranchi headquartered company reported revenue from operations of ₹153.53 Crores, a significant increase from ₹128.91 Crores in 2022-2023 and ₹110.28 Crores in 2021-2022.

Kresha Gupta, Founder and Fund Manager of Chanakya Opportunities Fund, expressed enthusiasm for the new partnership, stating, “We are thrilled to support Annu Projects’ innovative approach. This investment reflects our confidence in their leadership and vision to disrupt the market, as well as our belief in a future where they redefine industry standards.”

Trisu, India’s pioneering all-gold vermeil jewellery brand, has successfully completed its first pre-seed funding round, led by early-stage venture capital firm All In Capital. JK Tyres, Amaanta Group, and angel investors Himanshu Aggarwal and Sumer Sethi also participated in the round.

The company plans to use the funds to enhance customer acquisition, drive product innovation, and support market expansion. Founded by Saloni Chopra in 2023, Trisu offers gold vermeil jewellery with 18-karat gold plating that is five times thicker than standard gold plating, using silver as the base metal.

Trisu is named after Saloni’s parents, Trilok and Sushma. Sushma Chopra, who passed away in August 2023, was the heart of the brand. Her passion for durable jewellery and pursuit of better gold alternatives continue to inspire the Trisu team.

The brand’s mission is to provide long-lasting, affordable gold alternatives in India, particularly for individuals aged 30-60. Trisu’s products deliver high quality at a fraction of the cost, allowing customers to enjoy jewellery that closely resembles solid gold without the high expense or risk of loss.

With its head office in Gurgaon and manufacturing site in Jaipur, Trisu has achieved 24x growth within eight months of operation. The company aims to generate $1 million (Rs 8 crore) in monthly recurring revenue by 2025 and open ten shop in shops and five exclusive outlets by December 2026.

“With this funding, we aim to disrupt India’s $80 billion jewellery market with unique vermeil pieces that look like solid gold but cost a fraction. Our goal is to become the top gold alternative and capture 10% of the everyday gold jewellery market by 2034,” said Saloni Chopra, Founder of Trisu. With over a decade of experience in her family’s jewellery business, Saloni was also an early employee at Blissclub, where she helped scale the brand from Rs 3 crore to Rs 100 crore in ARR.

“Saloni makes for a great Founder-Market-fit for this category, given her earlier stints. Building a brand for the female TG needs customer centricity flowing top down in an organisation and Saloni fulfills that perfectly.” said Aditya Singh, Co Founder at All In Capital.

Trisu’s unique selling point is its superior plating style. Unlike other options in India, which either fade quickly or are plated on steel, Trisu’sjewellery offers a lasting finish—often lasting a lifetime. In just eight months, Trisu has attracted over 5,000 active users who appreciate its designs for their close resemblance to solid gold. The chains segment is the company’s top revenue driver, followed by neckpieces and bracelets.

By the end of this year, Trisu plans to expand its presence across all marketplaces, including quick commerce platforms.

The founding team also includes Shrey Bansiwal, who has experience with Oyo, Urban Company, and Blissclub, and Mahak Chopra, who brings over a decade of brand-building experience from Singapore.