Archive: June 1, 2022

Unlock Your Investment Journey with the Deciml App at Just Rs1

Delhi, June 2022: Deciml, a micro-investing platform, has launched with the aim to fundamentally change the way young adults perceive investing and make their initiation into the investing ecosystem simpler. Founded by CFA Level 2 and experienced entrepreneur Satyajeet Kunjeer, this Pune-based fintech firm enables users to start their investing journey with as little as ₹1 through Mutual Funds and Fixed Return Funds.

Born as a bootstrapped startup, today Deciml is backed by a clutch of strategic investors that include VCs, entrepreneurs, and creators. The Pune-based fintech firm has raised $1 Million in a Pre-seed Round from investors that include – VC firms like Unnati Labs, Agility Ventures, and MyAsia VC; entrepreneurs like Co-Founder & CEO of Unacademy, Gaurav Munjal, Founder of Innov8 (acquired by OYO), Dr. Ritesh Malik, CTO of Dunzo, Mukund Jha, and Raunak Munot, Co-founder of Bombay Shaving Company; creators like Bhuvan Bam, Ranveer Allahbadia, Raj Shamani, Suhani Shah, Praful Billore, Varun Thakur, Viraj Sheth and Rohit Raj; as well as start-up advisors like Abhishek Ponia. The funds will be utilized primarily for customer acquisition, product enhancements, and onboarding talent.

Satyajeet Kunjeer, Founder and CEO, Deciml says, “Everyone wants to be rich by the age of 40, but no one wants to stop living from 20-40. With growing aspirations and consumption, we wanted to create a super convenient way to get more young adults into the investment habit, without compromising on their aspirational lifestyles. We’re deeply passionate about solving this problem and uplifting India’s investment penetration from the current low of 3.5%.”
Commenting on the official launch:

Social media entrepreneur and YouTube creator, Ranveer Allahbadia of BeerBiceps said, “Deciml’s simple and intuitive app is exactly what’s needed for today’s young millennials to start investing. Excited to join the vision of financial independence for all.”

Akshay Jain, VP Investments of Unnati Labs, said “Deciml is the piggy bank for the digital age, small unnoticeable additions leading to big outcomes. Our elders knew it, we seem to have forgotten it over the last 40 years. By inculcating the habit of investing and experiencing the joys of compounding, Deciml can play a big role in reminding our younger generations of it.”

Dr. Ritesh Malik, Founder of Innov8 (sold to OYO) said, “As someone who is passionate about building products that create impact at scale by leveraging technology, I’m really excited to join Deciml’s vision of making investing easy and accessible for all, especially the youth population.”

Indian actor and comedian, Varun Thakur mentioned that “There are apps you look at right now and hope that they’d existed when you were younger. Deciml is that app for me. I foresee it becoming one of the most essential apps for young millennials when it comes to financial independence.”

In an effort to provide users with more ways to micro-invest regularly and achieve goals more consistently, the app also offers the option of setting daily investments as well as an option to make one-time lump-sum investments.

Currently available on Google Play Store, Deciml has witnessed 25,000+ downloads since its inception and over INR 20 Lakhs in AUM with partners that include Motilal Oswal, Yes Bank and Lendbox. Deciml will be launching on the Apple Store as well and will be the first true micro-investing platform on iOS. In the next five years, Deciml aims to be a one-stop financial destination for young millennials, offering a wide variety of investment and financial services, customized to user needs.

Jupiter Money ties-up with Onsurity to provide affordable healthcare solutions to SMBs

Bangalore, June 2022: Jupiter, India’s leading digital banking platform, has joined hands with award-winning insurtech platform, Onsurity to embed their healthcare and wellness benefits for its SMB clients.

The partnership will provide instant and affordable health & wellness benefits to employees of Jupiter Money SMB clients. To begin with, 8,000+ employee members of Jupiter Money have got health & wellness subscription benefits from Onsurity. The partnership benefits also include dedicated claims support from Onsurity for Jupiter Money’s SMB customers.

Speaking on the partnership, Colin D’souza, Head – Banking Programs and Strategy, said, “We are happy to collaborate with Onsurity. The fact that there are numerous Onsurity clients who, like us, are interested in investing in an employee health solution motivated us to partner with them.” 

Mr Kulin Shah, Co-Founder & COO Onsurity said, “We are delighted to join hands with Jupiter Money, a disruptor in the digital banking space. The partnership is another step in our direction to provide holistic healthcare and wellness benefits to India’s Start-up & MSME workforce, and ensure a one-click journey for healthcare assistance. This collaboration provides us the confidence to continue innovating and integrating technology to enable affordable healthcare products for India.” 

Onsurity provides out-patient wellness and preventive care from doctor teleconsultations, online medicine delivery, group Mediclaim and accidental covers to in-hospitalisation support related to claim processing and reimbursements.

Innovation thrives across India; Accel Atoms receives applications from beyond metro cities

India: An in-depth analysis of more than 2,000 applications received for the second cohort of Atoms, an Accel initiative aimed at pre-seed companies, revealed some interesting trends regarding innovation in India.

Innovation is everywhere! 

Entrepreneurs from across the length and breadth of India have shown robust interest in establishing their own start-ups, with large numbers situated in non-metro cities. Applications came in from 35 cities in India, with a large number of applicants stating that their work was completely location-agnostic. Interestingly:

Close to 40% of the applications came from non-metro cities, showing that as a country India is definitely moving up the innovation and entrepreneurship value chain.

Bangalore, Delhi and Mumbai (the metros) accounted for more than 50% of the applications.

Bhubaneswar, Coimbatore, Lucknow, Patna and Surat all contributed more than 10 applications each.

Indore, now billed as India’s up-and-coming startup capital, brought in 20 applications all by itself.

Over 100 entrepreneurs applied for the Atoms program from Gurgaon

First Time Entrepreneurs and Repeat/Serial founders

55% of the applicants were first-time founders; while close to 45% of the applicants have at least one co-founder with prior experience of building a startup.

Almost 45% of the companies have two founders.

21% of the applicants have three or more co-founders, preferring to work in groups.

Other interesting insights 

More than one-third of the applicants have already launched their product or service, with another 20% having a working minimum viable product (MVP). It is interesting to note that around 22% of the applicants are at the idea stage.

61% of the companies have not yet started generating any revenue at all. This could mean that the start-ups are in stealth mode developing the product/service/solution.

Through the Atoms program, Accel aims to support budding entrepreneurs, irrespective of which stage the company is at. As part of the program, the start-ups received $250K in non-dilutive capital, one-on-one mentorship from established business leaders, as well as access to the global Accel community.

Prayank Swaroop, Partner at Accel India, said “When we conceptualized Atoms, our goal was to design a program which would bring founders a valuable learning experience alongside accessible capital. As Atoms continues to grow, we look forward to working with more startups working outside the country’s traditional business hubs and at any phase of their business. Welcoming founders from different walks of life means solving more varied problems, not to mention building a more vibrant community.

The most exciting part about Atoms is that the start-ups receive capital with no equity burden. Joining our program implies gaining the backing of our investment system, venture development teams, access to over 200 portfolio founders as mentors, and access to more than 100 experts from our Accel network. We look forward to supporting more entrepreneurs in the journey of building innovative products and solutions.”

Svitch MotoCorp pledges to invest Rs 100 CR in CSR 762

India: Svitch MotoCorp Pvt Ltd., which is India’s leading EV player, today announced that it is all set to roll out the CSR762 in the Indian market. The company has also announced plans to pump over Rs 100 crore into the CSR762 project in 2022. CSR762 will be priced around Rs 1.65 Lakh on which a subsidy of Rs 40,000 will be given as per the Government mandate.

Commenting on the launch, Mr. Rajkumar Patel of Svitch MotoCorp said, “We are extremely delighted to launch the CSR762. The launch comes after two years of rigorous development and multiple prototypes; the final design boasts features that are tailor-made for the Indian Millennials. We are also looking at strengthening our dealership network in India. We have already inked deals with over 15 Electric Bike Dealership Showrooms across the country and are looking to expand this further. The investment will help us streamline our efforts and make the launch of CSR 762 a grand success”. 

CSR762 is one of the most anticipated EV launches of 2022. Targeted at the millennials, CSR762 is the perfect electric motorbike for daily commuters. The bike provides a staggering range of 120 Kms when fully charged. The CSR762 comes with double 3.7 kWh Li-ion NMC (Nickel-Manganese-Cobalt) Batteries that are encased individually in “suitcase-like” carriers. These can easily slide-in & slide-out as CSR762 supports ‘Swappable Battery’ technology, which completely removes the hassle of waiting at the station while your EV battery is being charged. Customers can also charge the bike by utilising its industry-standard CCS (Combined Charging System) Battery Charger.

There are six different riding modes for the CSR 762, of which three are standard riding modes, followed by Sports, Reverse and Parking modes. To ensure smooth functioning of these features, CSR762 comes with a ‘Central Drive System’ along with a powerful 3 kW PMS (Permanent Magnet Synchronous) Motor, which will make your commute within the city an experience you will look forward to every day.

This electric bike has a 5-inch TFT Colour Display that displays only the crucial details to the rider without distracting them from the road. The bike integrates a Sporty yet Elegant Headlight that illuminates the roadway even when cutting a sharp corner.

The design of CSR762 has been inspired by the ‘Asiatic Lions’ of Gujarat, which signifies Power, Pride, Personality and Dominance; with all the “majestic” features, CSR762 looks to reflect the same.

Svitch MotoCorp is taking utmost care regarding the safety features of this bike. The PMS Motor and Central Drive System provide a meticulous Drag Control and a ‘ThermoSyphon Cooling System’. This helps to tackle overheating complications. The calculative approach involves a stationary simulation of flow and pressure to achieve higher intake, especially when cruising. Also, the cooling vents have been integrated near the battery and motor to drastically reduce overheating, which has been and still is a prevalent concern with EVs.

The CSR community is committed to delivering a state-of-the-art e-motorcycling experience, leaving no stone unturned to change the paradigm of EV automobiles.