Posts in category: Press Releases

Cygnet.One, a pioneer in driving technological transformations for enterprises, and Avant Group Corporation, a leading provider of digital management solutions in Japan, have joined forces to announce the launch of their groundbreaking joint venture, DivaCygnet. This strategic alliance to achieve a significant milestone in the evolution of board management and compliance technology solutions within the corporate realm. DivaCygnet is poised to revolutionize the landscape by prioritizing innovation in group governance, financial consolidation, and compliance, thus setting new standards for excellence.

DivaCygnet is set to introduce two flagship offerings: the Financial Consolidation Statement Solution (DIVA) and the Board Management Software (Trinity) of Avant Group Corporation. By leveraging Cygnet.One’s expertise in transforming indirect tax compliance processes within India’s corporate landscape and Avant Group Corporation’s proficiency in digital transformation for management processes, DivaCygnet aims to establish DIVA and Trinity as premier software solutions for corporates. This strategic partnership solidifies their leadership position within the Indian market and beyond.

“We are thrilled to unveil our JV, DivaCygnet, a testament to the collaborative spirit driving technology innovation in the board management and compliance space,” remarked Surendra Sharma, Managing Director and Board Member of Avant Group Corporation. “This joint venture marks a significant milestone in our mission to empower enterprises globally with cutting-edge technologies that streamline operations and enhance compliance.”

Cygnet.One’s innovation and market leadership track record is underscored by its flagship offering, Cygnet Tax, which automates GST compliance processes for enterprises in India. As a GSTN-approved GST Suvidha Provider (GSP) and Invoice Registration Portal (IRP), Cygnet.One processes approximately 20% of India’s e-invoicing traffic, demonstrating its commitment to driving technological advancements in compliance processes.

Niraj Hutheesing, Managing Director and Founder of Cygnet.One, emphasized the strategic significance of DivaCygnet: “This venture represents a fusion of expertise, innovation, and commitment to solve challenges encountered by CFOs and CEOs alike. With a proven track record of meeting the evolving needs of CFOs, our ambition with DivaCygnet is to elevate our efforts to tackle a broader spectrum of challenges faced by business leaders.”

By leveraging the existing brand presence of Cygnet.One, DivaCygnet will deploy specialized teams and field operations across key regions such as Mumbai, Delhi, Bengaluru, and Pune. This multi-pronged approach aims to maximize market penetration and drive the adoption of DIVA and Trinity among Indian and UAE corporates.

Furthermore, DivaCygnet will explore strategic partnerships with accounting firms and software integrators to expand its market presence and explore opportunities in new geographical markets where Cygnet.One has established enterprise exposure.

About Avant Group Corporation
Avant Group Corporation stands as a leading force in Japan’s digital management solutions landscape, renowned for its innovative approach and unwavering commitment to excellence. Established as a pioneer, they have consistently pushed the boundaries of technological advancement, offering cutting-edge solutions tailored to meet the diverse needs of businesses in an ever-evolving digital world.

With a focus on harnessing the power of technology to drive efficiency, productivity, and growth, Avant Group has earned a reputation for delivering transformative solutions that empower organizations to thrive in competitive markets. They are at the forefront of shaping the future of digital management solutions, driving progress and prosperity for its clients and stakeholders alike.

About Cygnet.One
Cygnet Infotech is dedicated to excellence and is re-evolving it’s brand identity as CYGNET.ONE to help consolidate its specialized offerings in Compliance transformations, Digital & Quality Engineering, Enterprise Modernization, Data, AI & Analytics Hyper Automation, Test automation, Digital signature, and a myriad of other offerings across Americas, the UK & Europe, Africa, the Middle East, and the Asia Pacific.

Through Cygnet Cosmos, our digital transformation framework, CYGNET.ONE empowers organization to achieve business process digital transformation through co-ideation, co-creation, co-innovation, and co-evolution. With a global presence spanning across diverse markets and industries, Cygnet.One serves as a one-stop destination for intelligent solutions, delivering value from ideation to execution, ultimately driving success for clients and partners worldwide.

Leading coaching institute for IIT JEE and NEET preparation, Competishun has launched its new campaign “We are there for you.” This initiative is aimed towards mentorship and support for students throughout their academic journey and beyond.

Designed and curated by MADnext, this campaign emphasizes Competishun’s commitment to nurturing not just exam-ready students but well-rounded individuals ready to tackle life’s challenges. The campaign focuses on #WinningInLife and #WinningInCompetishun, which ensures that students excel both academically and personally.

Through this campaign, Competishun aims to break away from only traditional coaching services but will also provide students with a long term mentorship program. This program will provide students with personalised guidance, emotional support and practical life skills. Competishun’s dedicated team of educators and industry experts will help students build confidence, resilience and a positive mindset.

Students will be given a series of workshops, one-on-one mentoring sessions and motivational seminars. This will help an all-round development of the students.The campaign will be promoted through various media channels, including social media, print, and digital platforms, to reach a wider audience and inspire more students to benefit from this unique initiative.

“We believe that true education goes beyond just passing exams; it’s about preparing students for the challenges and opportunities life presents. With the ‘We Are There For You’ campaign, we aim to foster a supportive and nurturing environment that helps students grow not just academically but personally as well. This initiative is a testament to our commitment to creating a brighter future for our students and contributing positively to the educational ecosystem. We are dedicated to helping our students achieve #WinningInLife and #WinningInCompetishun,” said Mohit Tyagi, Founder of Competishun.

Also Read: Left high-paying teaching job in Kota, launched affordable IIT JEE ed-tech, clocked Rs. 12 Cr in FY-24

Competishun aims to create a comfortable learning environment for students through online education at an affordable cost. The platform offers customised online batches based on students’ needs and performance, with doubt-solving counters and 24/7 support via WhatsApp and phone. The company utilises cutting-edge technology to enhance the learning experience and to provide cost-effective, quality education to all JEE and NEET aspirants at the comfort of their homes.

About Competishun:
Jaipur-based Competishun is a premier coaching institute dedicated to preparing students for the IIT JEE and NEET examinations. Established with the vision of delivering high-quality education and comprehensive mentorship, Competishun has consistently produced top-ranking students and successful professionals.

With a focus on innovative teaching methods, personalized guidance, and holistic development, Competishun continues to empower students to achieve their academic goals and excel in their chosen careers. By emphasizing #WinningInLife and #WinningInCompetishun, Competishun ensures that students are well-prepared for both academic success and personal growth.

mCaffeine, India’s first caffeinated Skincare brand, has announced a strategic partnership with GoKwik, a leading eCommerce enabler, to further enhance its online presence and accelerate growth.

mCaffeine has established itself as a leader in the Skincare industry, boasting an annual revenue growth of over 300% in recent years.

This partnership with GoKwik aims to further support mCaffeine’s mission of increasing their market share by 10% in key categories and revenue by 70% this year by offering superior shopping experiences to its customers while expanding its D2C footprint across the roots of Bharat.

mCaffeine will leverage GoKwik’s 100 Million shopper network, the deepest in India to enhance the experience right at the start of the checkout journey all the way till the end. With unique features like one-tap OTP login, pre-filled addresses, extensive discounts, rewards, and loyalty partnerships, and an exhaustive payments suite, mCaffeine is expecting 25% higher revenue, better shopper satisfaction and reduced cash burn by integrating GoKwik checkout into its platform.

“We are thrilled to join hands with GoKwik as our trusted partners in the next leg of our growth journey,” said Vaishali Gupta, Co-founder and Chief Growth Officer, mCaffeine.

“With GoKwik’s eCommerce acumen, we are set to redefine the shopper experience in the growing D2C landscape. With their solutions like KwikCheckout, we are already seeing a positive upward movement in our conversions, and overall revenue growth. We are positive this partnership will further help us in establishing a deeper, and lasting footprint across India, and compliment the next phase of our growth, “ continued Vaishali

GoKwik’s tech and data-led solutions, including its category creator product, KwikCheckout, are designed to enable eCommerce brands to scale their growth by optimising the checkout process, thereby creating an ease of shopping experience and increasing the bottom line. GoKwik’s network data intelligence also ensures a reduction in return to origin (RTO) losses that occur when a COD order gets returned before delivery, increasing operational, logistics, and other costs for eCommerce brands.

“mCaffeine represents the pinnacle of innovation in the Skincare industry, and we’re excited to support their ambitious growth targets,” commented Chirag Taneja, Co-Founder and CEO, GoKwik. “We will be committing fully to amplifying mCaffeine’s digital footprint, ensuring they not only meet but exceed shopper expectations. This partnership is another step in creating an ecosystem where eCommerce brands continue to disrupt, thrive and grow.” Continued Chirag.

mCaffeine has increased revenue by 51.8% in the last year, setting a key growth benchmark for eCommerce brands. They are also venturing into omnichannel space and targeting 24 key micro markets for offline expansion. GoKwik houses over 4000 eCommerce brands in its network including Lenskart, Neemans, Man Matters, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space.

Merak Ventures, a sector-agnostic early-stage venture capital (VC) firm, is excited to announce its fifth significant investment this year, leading a INR 4.52 Cr (~$550k) pre-seed funding round in Helium, an AI platform which bakes product and visitor intelligence into eCommerce websites to help them convert better. This round also saw participation from angel investor Alok Mittal.

In today’s fast-paced digital market, online commerce is experiencing rapid growth. To stay ahead, these brands need top-notch storefront experiences that strengthen brand positioning and boost topline performance. Helium addresses this need by integrating advanced product and visitor intelligence into eCommerce platforms, enabling seamless digital product buying experiences.

Sheetal Bahl, Partner at Merak Ventures, expressed his excitement about the investment: “As online commerce surges post-pandemic, the need for tools to eliminate business inefficiencies has never been more pressing. Helium is addressing these critical gaps, set to boost conversions and revenue streams for eCommerce businesses. The relentless drive and innovation Shray, Sidharth and Deepak have shown in their early careers are truly exceptional, and we’re excited to champion their vision and journey.”

Shray Arora, Sidharth Sahni, and Deepak Kapoor form the dynamic co-founding team behind Helium, each contributing a unique skill set. Shray, the product and strategy lead, brings rich experience from his tenure at McKinsey and as Chief of Staff at Indifi. Sidharth, the prodigy developer, has been coding since he was 12 and previously worked as a Software Developer at Nados.

Deepak, based in North America, is a seasoned marketing professional with over a decade of experience in growth roles with retail brands like Lindt, Ecobee, and Baffin in North America, where he served as VP of Ecommerce & Digital at Baffin Footwear (a Canada Goose company). Together, they leverage their cross-functional expertise to drive Helium’s vision of revolutionising the eCommerce landscape with advanced AI technologies.

“At Helium, our mission is clear: to revolutionise the ecommerce landscape by empowering brands with the most advanced, intelligent, and seamless digital brand purchasing experience.
We believe that every brand, regardless of size or budget, deserves the opportunity to provide an exceptional online shopping experience akin to the standards set by industry giants like Apple and Amazon.”, stated Shray Arora, Co-founder of Helium.

Helium collaborates with leading brands in the fashion and consumer tech sectors to create intelligent collection and product landing pages. By leveraging AI, Helium tags each product and UI element, understanding their context through anonymized behavioural interactions of visitors. This allows Helium to curate the perfect combination of content, copy, and product for each visitor, similar to how Spotify tailors’ music preferences. The result is higher brand affinity and increased conversions.

The new funding will be strategically deployed to build a high-performing team and further develop Helium’s product offerings. The company aims to collaborate with top eCommerce brands globally, focusing on the North American market. Helium’s vision is to become the go-to solution for eCommerce excellence, pushing the boundaries of digital retail and setting new industry standards. The company plans to scale rapidly, innovate continuously, and establish itself as a leader in eCommerce technology.

About Merak Ventures
Merak Ventures is a sector-agnostic, early-stage venture fund investing in companies that are solving real problems and creating large-scale impact in the B2B and emerging technologies sectors. With a decade of experience in the Indian ecosystem, Merak Ventures is managed by experienced operators and investors, Manu Rikhye and Sheetal Bahl, who bring over 20 years of experience each to the table.

About Helium
Helium enables consumer brands to personalize their web stores for each visitor at scale. Our SaaS platform integrates AI-powered visitor and product intelligence with a no-code headless tech stack that mirrors brand themes and identity. This combination makes websites 3x faster and 2x more engaging, resulting in a 30% increase in conversions. With Helium, brands spend less time and resources managing their websites, unlocking their path to DTC growth. Our team, with over 20 years of experience in digital commerce, has worked with brands globally to address and solve growth challenges.

Everyday fashion brand Beyoung, which has captured a large part of the online market in tier 2-4 cities, has embarked on an aggressive offline expansion plan this year. After recently launching its Bhilwara store, the company has now extended its offline presence with its new store in Kota.

This expansion spree is in line with its target to strengthen its omnichannel presence by expanding to over 300 stores within the next three years. The direct-to-consumer company aims to launch 100 new stores this fiscal.

“It’s a major step in our journey of offline expansion in tier 2, 3, and 4 cities. We aim to offer quality products in every Indian city. We will also be adding more categories in the year ahead,” said ShivamSoni, Founder, Beyoung, at the launch of the Kota storeBeyoung’s product range includes plain t-shirts, joggers, cargo pants, urban shirts, and other latest and trendy men’s and women’s fashion wear.

The Indian fast fashion market is growing rapidly and is expected to reach $28.84 billion by 2030, with a compound annual growth rate (CAGR) of 16.5% from 2023 to 2030. Having a customer base of 3 million at present, the company is aiming for a big share of this tier 2-4 market.Founded in 2018, Beyoung has a current Gross Merchandise Value (GMV) of Rs 200 crore. It is eyeing a target GMV of Rs 650 crore in the next three years.Beyoung has also laid out a global expansion plan.

In the domestic market, Beyoung will continue to focus on offline expansion in its highest-serving tier 2, 3, and 4 cities. The aim is to enhance its omnichannel presence and give a tech-driven experience to customers.Beyoung plans to launch over 30 stores by the end of December 2024 in tier 2, 3, and 4 cities in states like Rajasthan, Uttar Pradesh, and Tamil Nadu and is working on scaling up its marketing efforts, technology, and logistics to improve the overall customer buying experience.

About Beyoung:
Founded in 2018, with the ambition to become India’s favorite, Beyoung has made its indelible mark in the Indian fashion and retail industry. Beyoung is an established e-commerce brand and has delivered over 30 lakh online orders. Its diverse product range represents the common Indian youth and fulfills their fashion needs with convenience and affordability. Beyoung is headquartered in Udaipur.

SaaS company Qila will be expanding to the Middle East to cater to the region’s data localisation guidelines and strengthen Web3 adoption among enterprises. Through Qila’s private cloud infrastructure, the region will be able to enhance Web3 adoption with localised cloud solutions and innovative data analytics tools.

The expansion is aimed to provide multiple advantages for enterprises operating in the UAE, which includes enhanced data security, compliance with local regulations, and streamlined integration of blockchain technology. Qila’s new innovative cloud data analytics solution TreePye, is designed to optimise cloud usage from both efficiency and cost perspectives.

Through this strategic expansion, Qila aims to bring about compliance with data localisation regulations, leverage its private cloud infrastructure to provide state-of-the-art security protocols and safeguard enterprise data. Qila is also looking to simplify adoption of blockchain and tokenization technologies across various sectors through easy API integrations.

The UAE presents a robust market for Web3 solutions due to its progressive stance on technology adoption and regulatory support for blockchain initiatives. The UAE’s proactive approach to technology and innovation aligns perfectly with Qila’s offerings, making it an ideal environment for growth.The UAE government’s supportive regulations for blockchain and data localization further facilitate the seamless integration of Qila’s solutions

Sid Ugrankar, CEO & Co-Founder of Qila, said, “Our expansion into the UAE is a significant milestone for Qila. By establishing a private cloud infrastructure, we not only adhere to local data regulations but also provide enterprises with secure and efficient Web3 solutions. The introduction of ARK, ARK+, PrivaSea, and TreePye exemplifies our commitment to innovation and helping businesses optimise their operations.”

The sector-agnostic nature of Qila’s platform also allows it to serve various industries, including healthcare, education, finance, real estate, automobile, and luxury goods.

Vishal Malhotra, CFO & Co-Founder of Qila, said, “We see immense potential in the UAE market, which is at the forefront of embracing new technologies. Our goal is to support enterprises in their Web3 journey by offering sector-agnostic solutions and innovative tools like ARK, ARK+, PrivaSea, and TreePye. This expansion is a testament to our growth strategy and our dedication to serving diverse markets with tailored solutions.”

About Qila

Qila is a pioneering SaaS company offering infrastructure solutions for Web3 adoption, specializing in blockchain and tokenization. With offices in Mumbai, Dubai, and Chicago, Qila empowers enterprises with easy API integration platforms and innovative tools like ARK, ARK+, PrivaSea, and TreePye, driving efficiency and cost savings in cloud usage.

POP, a Bengaluru-based startup, has announced that it has closed a  $2.4 million seed funding round led by India Quotient and a few prominent angel investors recently.

The Bengaluru-based startup also announced that it had received approval as a Third-Party Application Provider (TPAP) from the National Payments Corporation of India (NPCI) to offer UPI payments via its POPclub app.

The company, in partnership with financial firms such as Yes Bank and Juspay, has built its UPI stack. The funding will help expedite the implementation of various initiatives, including the POP UPI service that will enable users to earn POPcoins, a shopping currency already used by 200+ online merchants, with every UPI transaction made through the POPclub app.

These POPcoins can be used to buy a wide range of products from all major direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods- all housed within the POPclub app.

Bhargav Errangi, Founder of POP, said, “POP’s goal is to become the most sought-after go-to platform for payments and shopping for digitally active young Indians. As consumer behaviours evolve, we aim to provide innovative app experiences tailored to their interests in daily consumption.”

Unlike other UPI players, POP emphasises a 2% value back (via POPcoins) for every UPI transaction.  “POPcoins-led rewards offer a predictable and consistent reward promise compared to the luck-based and gamified models of other UPI apps. These POPcoins can be effectively used to purchase over 100,000 SKUs our target audience consumes. Our ambition is to position POPcoins as the shopping currency for purchasing the new-age products/services that resonate with evolving new-age Indian consumer’s preferences,” said Errangi, who has a track record of scaling Flipkart Supercoins in his previous role.

POP joins prominent players like Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorised to provide UPI payments. Marketed as ‘Designed to reward,’ the POPclub UPI application is now rolled out with attractive launch offers and is now available to download on Google Play Store and Apple App Store.

Madhukar, General Partner at India Quotient, said, “Acquisition and retention are two most challenging problems for D2C and consumer brands. Very excited to partner with Bhargav and team to solve this very hard problem and enable thousands of consumer brands to acquire and retain customers at a fraction of current costs.”

Since its launch in early May 2023, POP has added over 200 brands to its network, including mCaffeine, HUL-owned Simple Skin Care, Adil Qadri, Anveshan, Two Brothers Organic Farms, and Epigamia. These brands have adopted POP’s rewards currency, POPcoins, replacing their traditional loyalty programs and points systems within the D2C world. POPcoins have engaged over four million customers within the network, and this number is expected to grow to over 500 brands and 10 million customers by the end of the year.

Cygnet.One, a leading technology firm providing compliance solutions to businesses globally, has strengthened its e-invoicing solutions by becoming a Peppol-certified service provider. It aims to disrupt e-invoicing by delivering seamless transactions across boundaries and fostering international business growth.

Peppol, a nonprofit organization registered in Belgium, integrates business processes by standardizing how information is structured and exchanged. Whether you are sending invoices or handling other business transactions, Peppol delivers a shared digital language for organizations worldwide.

With this certification, Cygnet.One will be able to reach out to customers across all Peppol member countries, including the USA, China, Japan, Singapore, Australia and many European countries.
Cygnet.One’s certification as a Peppol-certified service provider underscores its dedication to simplifying business operations worldwide.

“Countries across the globe are moving towards e-invoicing compliance. Adopting the Peppol framework within our solutions is the foundation for building and enabling e-invoicing. Multi-national corporations and exporters will now have the opportunity to leverage us as a Peppol Access Point and trade easily. This move will go hand-in-hand with euVAT, e-Invoicing, & other tech-enabled compliance products for Africa, Europe, GCC, India, Southeast Asia, and other regions,” said Niraj Hutheesing, Founder and Managing Director of Cygnet.One.

By partnering with Cygnet, businesses can sign a single agreement and gain access to the entire Peppol network, eliminating the complexities associated with multiple connections. The open four-corner model employed by Peppol ensures no roaming fees between access points, providing cost-effective solutions for businesses of all sizes.

With a focus on adherence to local regulations and standards, Cygnet. One ensures seamless integration with accounting software and ERPs.

Peppol brings a host of advantages that will transform the way businesses operate. With standardized formats for document exchange and data mapping, we’re ensuring consistency and efficiency across the board. This means smoother processes, fewer errors, and enhanced collaboration with partners worldwide.

Additionally, Peppol, with standardized data fields and formats, streamlines billing and invoicing processing, accelerating the payment cycle and improving cash flow management. Businesses can focus on growth and innovation by reducing delays and administrative burdens, driving success in today’s dynamic marketplace.

Cygnet.One holds a prominent position as a leading provider in India, Saudi Arabia, and Kenya. Cygnet. One has extended its footprint to include Malaysia, UAE, Australia, and all countries soon to mandate e-invoicing compliance. With a strong presence in these regions, Cygnet.One continues to set the standard for e-invoicing solutions.

As Peppol continues to gain traction as the global standard for electronic transactions, Cygnet.One invites businesses to join the revolution and embrace the future of global e-invoicing with its certification as a Peppol-certified service provider, Cygnet.One is committed to empowering businesses to thrive in an increasingly interconnected world.