daily summary (April 18, 2022)
Wingreens appoints Ramesh Menon as Group CEO
New-age catering group Wingreens named Ramesh Menon as group CEO. He will lead the Group with more than 1,000 employees, including all subsidiaries and brands. His role will be to drive the growth of the group in the next phase of the evolution of the F&B industry in India and globally.
Ramesh brings over three decades of experience in the consumer packaged goods (CPG) industry as well as the retail media and entertainment industry. Prior to joining Wingreens, Ramesh served as CEO of Radio and Digital Innovation Enterprises at HT Media.
“Joining Wingreens is a no-brainer for me. Everything I’ve done in my career has led to this. I’ve always admired brands like Wingreens, Raw Pressery, Monsoon Harvest and Saucery who have challenged the status quo and created great products that meet the needs of millennial consumers who want healthier products without compromising on taste. . Wingreens is poised to become the next giant in the packaged food and beverage industry and is already making its presence felt in markets outside India. As Wingreens continues to push the boundaries of innovation on all fronts, I am thrilled to be part of its talented team and its journey to becoming a premier global organization,” said Ramesh Menon.
MoEVing expands electric vehicle operations to Tier II cities
MoEVing, a leading comprehensive electric mobility platform, announced the expansion of its electric vehicle business in Tier II cities in Punjab, Uttar Pradesh, Rajasthan, Gujarat and Tamil Nadu. With this expansion, MoEVing becomes truly national, with a presence in 14 cities in nine states.
MoEVing has deployed more than 1,000 two- and three-wheel electric vehicles across the nine states. They were already present in Delhi NCR (Gurugram, New Delhi, Noida, Faridabad), Pune, Mumbai, Chandigarh, Bengaluru, Chennai, Hyderabad and Kolkata.
MoEVing, which claims to have doubled its revenue every three to four months, expects to become a billion-dollar revenue company by 2026.
Paytm Becomes Integrated Application Partner for Ayushman Bharat Digital Mission
One97 Communications Limited, owner of the markIndia’s leading digital ecosystem for consumers and merchants, has announced that it is part of the Ayushman Bharat Digital Mission as an integrated application partner. With this partnership, Paytm has integrated the National Health Authority (NHA) ABHA, through which users can create their unique ABHA number on its app. The ABHA integration on the Paytm app is part of the company’s initiatives to bring digital health services to its users.
With the partnership with NHA, Paytm claims to become the largest consumer platform for creating ABHA numbers for Android and iOS users.
The Government of India’s ABHA is instrumental in creating a digital health record for Indians, which enables them to access and share their health data, with their consent, with healthcare providers and payers attendees. Through the ABHA number, users can also access their personal health records (PHR) and link them to create a longitudinal health history.
Additionally, users can access the Paytm Health Storefront which aggregates and brings together the best names in healthcare and through which users can book teleconsultations, shop at pharmacies, book a lab test, purchase health insurance , apply for medical loans, and much more.
Jasleen Kohli becomes the new Managing Director and CEO of Digit Insurance
Digit Insurance, one of the fastest growing private general insurers in India, on Monday announced the appointment of Jasleen Kohli as the company’s new Managing Director (MD) and Chief Executive Officer (CEO) – effective April 20, 2022. Jasleen will take over from Vijay Kumar who has held the position since the company’s inception in 2017, and will take over his retirement from the organization on April 19, 2022.
Prior to this, Jasleen overlooked all of Digit’s sales and distribution channels as chief distribution officer (CDO). She has been with the company since its inception and is also Digit’s first employee. She has nearly 19 years of experience in the life and general insurance industry. She was last a director of Allianz Technology before joining Digit as CDO in 2017. At 42, she will become one of the youngest CEOs in the insurance industry.
LegalPay and Naples Global Launch $5M Fund to Help Founders Resolve Investor Disputes
Florida-based hedge fund Naples World bonded with LegalPay, a litigation and interim finance provider, to launch a $5 million fund for Indian founders to protect their rights during any type of board-related litigation. It is the first fund of its kind to be launched for the benefit of Indian founders.
The fund has primarily committed $5 million (about Rs 37 crore) to be deployed with an option to increase exposure for lenders looking to fight their litigation and arbitration.
“Founders put their blood and sweat into building startups, but often find investors who twist them on multiple fronts. Since most founders are first-generation entrepreneurs, they don’t have the financial muscle to do assert their legal rights,” said Kundan Shahi, Managing Director of LegalPay.
He further added that the idea behind this product is to create a level playing field for these disgruntled founders so that they do not give up their legitimacy due to financial constraints. With such an investment and the support of Naples Global, LegalPay believes that all founders who have been harmed by their investor pool would be able to protect their rights and interests in their own business.
PNB Housing Finance appoints Anubhav Rajput as CTO
PNB Housing Finance announced on Monday the appointment of Anubhav Rajput as chief technology officer. Anubhav brings 22 years of experience designing technology-driven businesses with large-scale operations and has gained a competitive edge by taking a technology-driven approach.
As a key member of PNB Housing’s leadership team, Anubhav will lead the company’s technology and digital transformation mandate. He will lead core technology operations, platforms, applications, new digital initiatives, cloud, analytics and IT operating models, ensuring that PNB Housing embraces contemporary technology paradigms. Anubhav will also be responsible for strengthening the fintech ecosystem and creating a sustainable roadmap for business growth.