February was an action-packed month for India’s business and economy. From Nirmala Sitharaman presenting the much-awaited Budget 2020, to the Coronavirus impacting industry in India, the month was full of developments. Apart from this, there was largely positive movement across sectors -Automobiles, Real Estate, Healthcare, Edtech, Adtech and Smart Manufacturing.
Here’s a look at some of the highlights this month:
Bengaluru-based EV Startup, FAE Bikes recently launched the ‘Kirana Charzer’, a low-cost, smart EV charging station that costs Rs 10,000. The startup is focused on enabling small shops and individuals to install their own charging stations and earn additional income. Kirana Charzer is a compact, zero-maintenance and IoT enabled charging station, and is by far India’s cheapest charging station. It allows the owner to earn 100% revenue from EV charging.
Rocky Mountain Institute (RMI) and Micelio in partnership with the Directorate of Urban Land Transport (DULT), Invest Karnataka Forum, and Department of Industries and Commerce (DIC), launched their ambitious Urban Mobility Lab in Bengaluru to identify, develop, and implement mobility solutions that transform how people and goods move.
With digitisation of healthcare and with millions of digital health records being produced every day, critical information is always under threat. February witnessed a massive data leak related to users in India, wherein over a million medical records and 121 million medical images of Indian patients were freely accessible by anyone over the Internet.
One of India’s reputed healthcare startups, Qure.ai has raised USD 16 million in a funding round led by Sequoia India. Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai interprets radiology scans within seconds, thus reducing time of treatment when it is most critical. Qure.ai is present in over 20 countries and claims to have impacted over 600,000 lives.
The Reserve Bank of India has allowed the extension of date of commercial operations (DCCO) of project loans for commercial real estate that has been delayed beyond the control of promoters. The date has been extended by another year, and is in line with the government’s efforts to pull the sector out of its current situation.
While the performance of the real estate sector is not on an upward trajectory, this is welcome news for the industry. Sales of units under Rs 1 crore have witnessed a remarkable momentum, revealed by credit ratings agency ICRA.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has launched an app to enable home buyers in purchasing property through credible developers. The app will help buyers to easily identify their preferred projects and contact developers directly.
OTT players to invest an estimated ₹2.5 billion on content creation and distribution: Mobile Marketing Ecosystem Report 2020
A recent report by the Mobile Marketing Association and Group M stated that OTT players will invest to the tune of Rs 2.5 billion in this space. OTT or Over-the-top media service is a streaming service offered directly to viewers via the Internet. The term is synonymous with subscription-based video-on-demand services. The report this year focuses on how mobile is more significant than digital platforms.
India is now home to the second-highest number of EdTech companies (327), followed by Brazil (275), UK (245) and China (101). With a predicted market value set to reach USD 252 billion in 2020, EdTech startups are on the rise all over the world.
Bengaluru-based edtech startup Unacademy has just onboarded global social media giant Facebook as an investor in Series E funding round. The company announced that Facebook and General Atlantic along with Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures have invested in $110 Mn Series E funding round.
Henkel Adhesives Technologies new site at Pune is equipped with state-of-the-art technologies to ensure traceability and transparency, and to exceed the high standards for quality and safety in the industry. Designed as a smart factory with a high level of process automation, it enables a wide range of Industry 4.0 applications. Even giants like Bajaj Auto and Bharat Forge are investing heavily in specific areas of Industry 4.0 relevant to their industry. GE manufacturing plant in Chakan has become a model for Industry 4.0. This brings to the forefront Pune’s potential to become the epicentre of Industry 4.0 adoption.
- Industry Leaders’ Expectations From The Budget 2020
- The Future of Real Estate: A power chat with Sanjay Dutt, CEO & MD, Tata Realty & Infra
- How is the Real Estate Industry Managing the Covid-19 Impact?
- How Will the EV Industry Steer Around Covid-19?
- Corona Warriors: How India Inc is Helping to Battle Covid-19