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Zone Startups to manage Barclays RISE Accelerator program

Press Trust of India  |  Mumbai 

Zone Startups, the accelerator brand of Toronto-based Ryerson Futures, in partnership with Institute has partnered with Barclays, to manage their RISE accelerator program in

Over the past two years, Zone Startups has built a portfolio of 78 startups, of which nearly 30 have raised capital from former angel investors and venture capital funds.

Recruitment process for the RISE Accelerator would commence in early July.

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L'Oreal launches global haircare brand 'Garnier Ultra Blends' * L'Oreal, as part of its worldwide roll-out, has announced the launch of a gentle, paraben-free range of shampoos under the brand 'Garnier Ultra Blends'.

This range of shampoos, conditioners and treatments offers natural blends, and is customised for Indian hair by L'Oreal's Research and Innovation Center in Mumbai, the company said in a statement.

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Lok Capital closes Fund-III at USD 40.5 mn * Impact investment fund Lok Capital today announced the first close of Lok Fund-III at USD 40.5 mn.

This, along with Lok Capital's Fund-I and Fund-II, will bring the total capital under management to over USD 125 mn, the fund said in a statement here.

Fund-III has a total target corpus of around USD 100 mn and is expected to close in the next 12-18 months.

The fund will be deployed in the next five years and will focus on growth stage investments in financial services, healthcare, agriculture and livelihood, it said in a statement.

While the average tranche per investment will range between USD 2-10 mn, Lok Capital will continue to collaborate with Limited Partners for joint investment in larger deals, it said.

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Ransomware concerns set to intensify globally: EY * To mitigate businesses falling prey to cyber criminals, EY Fraud Investigation and Dispute Services has launched a Ransomware defence and remediation tool (Radar 360) which is directed at protecting digital assets including computers and laptops, the company said today.

Managed by its forensic technology and discovery services arm, the solution not only mitigates potential attacks, but also helps in recovering encrypted data, without paying off the ransom, if an incident has already taken place.

Ransomware is a variety of malware which is targeted to extort money primarily through crypto currencies such as Bitcoins, by locking computers and data.

Accenture launches apps to help cos detect, remediate fraud

* Accenture is launching seven new advanced analytics applications to help organisations detect and remediate fraud more effectively.

The applications will help banks, telecommunications companies, government agencies and manufacturers make more informed decisions in order to reduce losses.

"As fraudulent behaviour can come in many different forms and morph quickly to stay under the radar, organisations across industries are seeking solutions that can help them to quickly identify and reduce this activity to decrease losses," Accenture Analytics MD Kieran Towey said.

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Ambit Alpha Fund crosses Rs 1,000 crore in assets base * Ambit Alpha Fund, an alternate investment fund (AIF), managed by Ambit Investment Advisors, has crossed Rs 1,000 crore of assets base.

The fund, category III Alternate Investment Fund (AIF), was launched with an assets under management of Rs 20 crore in June 2013.

"Despite a volatile market, Ambit Alpha Fund reported low volatility of 5-7 per cent and managed to provide an outstanding gross compounded return of 23 per cent," the company said in a statement today.

Ambit Investment Advisors is a joint venture between Ambit Corporate Finance and Japan's Nikko Asset Management Company of Japan, which manages about USD 160 billion assets.

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Ujaas Energy bags order worth Rs 20.66 cr * Ujaas Energy Ltd has bagged an order worth Rs 20.66 crore to set up and maintain 3 MW solar power plant for ten years at Aligarh Muslim University in Uttar Pradesh.

"The company has received an order for 'designing, engineering, procurement and supply, construction and erection, testing and commissioning and comprehensive operation and maintenance for 10 years of 3MW (AC) Solar PV power plant on turnkey basis' at Aligarh Muslim University, at a price of Rs 20.66 crore," Ujaas Energy informed today.

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INOX ties-up with Paytm for movie ticket booking * Multiplex chain INOX Leisure Ltd today announced a tie-up with e-commerce player Paytm to sell tickets to moviegoers through the latter's platform.

The e-commerce platform will provide a greater convenience to guests and expand the booking platform of INOX across India, the company said in a filing.

INOX Leisure CEO Alok Tandon said: "In the current technology-driven ecosystem, it is important to innovate in order to stay ahead of the curve. This alliance with Paytm will provide convenience to our audience at their fingertips."

INOX has 107 multiplexes with 420 screens spread across 57 cities in
Greytip Software gets Rs 35 cr funding

* Greytip Software, a provider of HR and payroll solutions, today said it has raised funding of Rs 35 crore, led by New Enterprise Associates (NEA) and Blume Ventures.

The series B funding will be primarily used to enhance Greytip's flagship cloud solution to enable its adoption among a wider set of enterprises and small businesses and for expansion into tier I and II markets, Greytip said in a statement.

Greytip's solution helps businesses manage their employee-related TDS, PF, ESI and LWF compliances and significantly cuts down the cost and time in providing services to their employees.

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Telenor offers night data packs

* Telecom operator Telenor today launched night data packs for users, offering Internet usage for Rs 2 onwards.

"The company launched exclusive night data packs starting from Rs 2 to Rs 48 with validity ranging from 1 to 28 days in its six operating circles. These packs are valid for usage between 11 PM and 7 AM and offers data benefits up to 1 GB," Telenor India said in a statement.

After the free quota of data is exhausted, users will be charged maximum of Rs 5 per day at a pulse rate of 2 paisa/20 KB of data. After this, the user can access unlimited data till 7 AM.

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One touch Response launches road assistance service on Droom * Emergency assistance service One Touch Response today announced partnership with online automobile market Droom to provide road safety assistance service to automobile owners on the latter's website portal.

Under the Road Side Assistance package, the subscribers can avail the services for situations like road rage, accidents, stranded without safe transport, car breakdown, stolen vehicle or accident for yearly subscription of Rs 1,499.

Depending on the nature of emergency, One Touch Response (OTR) would also provide emergency fuel assistance, jump start, flat tyre change, key retrieval, tow truck and mechanic provision, on-call cab and ambulance service by coordinating with its empaneled service partners at a negotiated fee.

Samsung Vice Chairman Jay Y Lee meets PM Modi

* Electronics giant Samsung today said its Vice Chairman Jay Y Lee called on Prime Minister Narendra Modi and reiterated the company's long-term commitment to India as a strategic partner.

Lee apprised the PM of Samsung's business operations and citizenship activities in the country. He explained how Samsung is actively partnering the 'Make in India' and 'Digital India' initiatives, Samsung said in a statement.

The company is committed to growing India as an important production base and central R&D hub, it added.

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JNPT commences Holding Yard Operations

* Jawaharlal Nehru Port Trust (JNPT), the country's top Container Port, has commenced the holding yard operations to ease out congestion and streamline traffic.

"JNPT has commenced the holding yard operations in a six-hectare land at JNPCT (Jawaharlal Nehru Port Container Terminal) approach roads...This holding yard, which has been developed within the centralized parking plaza, will be utilized for parking Tractor Trailers (TT) awaiting the final documentation," Ministry of Shipping said in a statement.

Commencement of holding yard at JNPCT is already showing results and has reduced the congestion by 90 per cent at the port gate roads, it said.

It said 600 TTs can be accommodated in this holding area at one time.

First Published: Thu, June 16 2016. 18:32 IST
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