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Insurtech behemoth Turtlemint acquires Pune based startup IOPhysics Systems

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NEW DELHI: Leading insurtech platform Turtlemint announced acquiring Pune based startup IOPhysics Systems today. IOPhysics’ founder and CEO Ashish Gawali will join the Turtlemint team as their VP – Data Science and Data Engineering, while the rest of the IOPhysics team will join the tech and data science verticals at Turtlemint. As a part of the deal, Turtlemint will also be taking over the IOPhysics IP and Product portfolio.

Passion Connect, the HR Advisory Unit incubated by Blume Ventures, played a crucial role in this acquisition. Led by Sanam Rawal, it implements innovative hiring techniques to find the perfect employee-employer fit for their startup portfolio. A structured and dedicated acquihiring and acquisitions vertical, led by Swati Gupta and her teammate Ayushi Verma, is one such technique.

According to Turtlemint co-founder Anand Prabhudesai, “As Turtlemint goes into the next phase of growth, data science and data engineering have become critical focus areas. Passion Connect recognised this need, leveraged its strong network in the startup community and connected us to various startup teams across domains. We loved the IOPhysics team, their IP and product since it allows developers to be cloud-agnostic and pick data platforms that suit the best need for the use case. We are excited and proud to join hands with them!”

IOPhysics has a highly talented tech team. The startup aims to help data scientists and data engineers derive intelligence from structured or unstructured data in real-time. As part of their Highway to a 100 Unicorns program, Microsoft for Startups recognised IOPhysics as the Most Innovative & High Potential startup across Tier-2 cities in India. Its USP is its flexibility to integrate any data with any public cloud data platform of choice and data visualisation tool – all with an easy to use interface.

According to Ashish Gawali, founder at IOPhysics, “When we were introduced to Turtlemint, we realised that both teams shared the same passion for improving people’s lives, even in remote pockets of the country. In addition, we have immense respect for the humility of their leadership team and the intelligence and experience that they come with. We’re delighted that Passion Connect reached out to us, and they have been a strong people partner during our acquisition journey!”

According to Sanam Rawal, Lead Talent Advisor, and Ayushi Verma from the Acquisitions and Acquihiring team at Passion Connect, “Over the last six years, we have worked relentlessly to connect founders to the right candidates and contribute positively to their growth journey. We saw the need for acquisitions and acquihires across startups since it helps build teams quickly while helping young startup founders leverage their entrepreneurship experience at scale. When Anand told us about their vision for a robust data science and engineering vertical, we knew that the IOPhysics team would be a good fit in terms of skill set and values. We congratulate both teams and wish them luck!”

Founded in 2015, Turtlemint has a unique hybrid (online-offline) model that empowers insurance advisors across the country with digital tools to navigate an otherwise cumbersome offline selling process at scale quickly. The company, which has raised $69 Million, is backed by Blume Ventures, GGV Capital, Sequoia Capital India, Nexus Ventures, Jungle VC, SIG, Amfam and Massmutual Ventures.

 

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Vi showcases 5G

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NEW DELHI: Vodafone Idea Limited (VIL), leading telecom operator, today demonstrated a range of 5G-based technology solutions as part of its ongoing 5G trials on government allocated 5G spectrum in Pune, Maharashtra and Gandhinagar, Gujarat.

According to Ravinder Takkar, MD & CEO, Vodafone Idea Limited, “With our 5G trials underway, Vi is preparing to take India on the next journey of fifth generation wireless mobile communication technology. Our 5G trials showcase a whole new world of possibilities across various domains that promise a new era of technology advancement in India. I am confident that 5G will bring a better tomorrow that will deliver significant benefits to consumers, businesses and society, driving digital economy growth in India.”

With the purpose for a better tomorrow, Vi has been conducting 5G trials and developed a wide range of use cases relevant for Enterprises and Consumers in India. Vi has partnered with industry leaders like L&T Smart World & Communication, Athonet, Indian start-ups like Vizzbee & Tweek Labs, and technology leaders – Ericsson and Nokia for trialling use cases in the two locations.

Committed to helping its customers thrive and have a better tomorrow, Vi is leveraging the power of 5G technology across segments such as industry 4.0, smart cities, smart healthcare, smart workplace, smart education, smart agriculture, gaming, amongst others. Vi’s trials have proven that high data speed, low latency and reliability of 5G technology, can bring about massive developments by enhancing business performance, revolutionizing customer experience, changing consumer lifestyle and positively impacting people dwelling in remote corners of India.

Vi has been allocated 26 GHz and 3.5 GHz spectrum in the mmWave band by the DoT, for 5G network trials and use cases. Vi has achieved peak speeds in excess of 1.5 Gbps on 3.5 GHz, more than 4.2 Gbps on 26 GHz and up to 9.8 Gbps on backhaul spectrum of E-bands.

The 5G trial network set up by Vi in Pune, deploys Ericsson Radios and Ericsson Dual Mode Core based on cloud native technology comprising of 5G SA, 5G NSA & LTE packet core functions. All use cases demonstrated in Pune have been developed over Ericsson’s 5G technology solutions.

In Gandhinagar, Vi is using Nokia’s AirScale radio portfolio and Microwave E-band solution for the trial that support enterprises, both large and small and medium businesses with reliable connectivity. Vi use cases in Gandhinagar were demonstrated via a live telecast at the special media preview held in Pune.

 

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LTI, IBM inaugurate innovation and experience center in Bengaluru

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NEW DELHI: Larsen & Toubro Infotech, a global technology consulting and digital solutions company has opened an Innovation & Experience Centre at LTI Whitefield campus in Bengaluru (India) focusing on IBM technologies. The Center will assist enterprises in modernizing their operations and accelerating digital transformation journeys.

This Innovation and Experience Center will showcase LTI solutions that have been co-created using IBM technologies such as IBM Cloud and Cloud Paks. The Centre will also serve as a forum for customers to engage with LTI and IBM technical resources for in-depth technology briefings, solution demos, software, tool access and solution workshops.

Sudhir Chaturvedi, President-Sales and Executive Board Member, LTI, said: “The rapid technological advances make it necessary for customers to experience solutions before adopting them. Our new center in Bengaluru fulfils this need for the joint customers of IBM and LTI. This center will offer combined benefits of LTI’s rich domain proficiency and IBM’s deep technical expertise, and thereby assist clients in their transformation journey.”

Through this center, IBM and LTI will collaborate and invest in creating joint solutions and develop industry viewpoints around digital transformation, hybrid cloud, data & AI, and security services. In addition, both LTI and IBM teams, will work with customers to address their requirements around driving digital transformation and managing multiple clouds.

Evaristus Mainsah, GM, Hybrid Cloud and Edge Ecosystem, IBM, said, “This center is an outcome of our growing alliance with LTI to help clients predict, automate, secure, and modernize their business operations. We are confident our clients will benefit from the ease of access to industry-specific assets and customized joint solutions with IBM’s open hybrid cloud approach that will help to accelerate their transformation journeys.”

Distinct features of the center include an IBM Playground for associates to explore and experiment with prototypes, History Zone that highlights LTI-IBM alliance journey, joint customer success stories, Innovation Zone for brainstorming on innovative ideas and planning future offerings, and Discussion Zone with feedback mechanism to ensure continuous improvement.

LTI has strong capabilities in IBM’s Digital Business Automation portfolio. LTI’s Automation consultants are helping clients in driving productivity improvements with industry specific pre-built IBM frameworks. Earlier this year, LTI and IBM had announced expansion of their global alliance.

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Cygnet Infotech’s Cygnature adds a new feature; helps procure an electronic stamp online

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NEW DELHI: Cygnature by Cygnet Infotech, the global Technology Products & Services company, has added an important feature called ‘e-stamp’ to its e-signing solution. Cygnature is an award-winning signing solution that securely authenticates signers, offers them a range of signature types for signing and protects the integrity of the documents.

With the e-stamp feature, businesses will be able to procure e-stamps through Cygnature platform and significantly ease the process of stamping documents.

COVID-19 has been a catalyst in pushing industries to move towards a paperless economy by offering a faster way of executing documents. Cygnet Infotech’s Cygnature supports organizations when it comes to digitally transforming their businesses. Cygnet Infotech’s Cygnature has added a useful feature ‘E-Stamp’ in its latest release providing multiple benefits. E-stamp can be generated within minutes using this feature. It can help you save time as physical stamp paper procurement is a time-consuming process. Users can prepay the stamp duty amount and then issue stamp papers against that balance.

With Cygnature, the solution can help digitize the process of paying the stamp duty and procuring e-stamp challan online rather than going to a stamp paper vendor to procure traditional stamp paper:

1. Initiate a workflow by uploading an agreement on Cygnature

2. Add E-stamp, select state and stamp duty amount to be paid for the relevant document category

3. Provide details of first and second party

4. On confirmation of details, the e-stamp challan will be generated and gets added instantly to the uploaded agreement

5. Both the parties can then continue to sign the document using Cygnature by adding placeholders to e-sign the document

6. The stamp duty amount will be deducted from the prepaid amount you deposit in your Cygnature account

7. The physical copies of the stamp paper will be couriered at the end of the month to the consumer’s address

Cygnature will not provide advice on the amount of stamp duty to be paid. This will have to be decided by the user.

Niraj Hutheesing, Founder & Managing Director at Cygnet Infotech said, “Cygnet Infotech’s product, Cygnature has been developed with an aim to promote seamless digital signing of documents. With the introduction of Cygnature’s E-stamp feature, we seek to further support businesses in speeding up the process of authorization of documents. Paying stamp duty is mandatory for many transactions across the country, and to simplify the process, e-stamp will help tackle counterfeiting and will further make the payment of stamp duty easier and glitch free.”

In this latest release, Cygnature’s E-stamp feature will be available for 5 states – Delhi, Gujarat, Maharashtra, Karnataka and Tamil Nadu.

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