Bits’n’bytes: Know about startup, business news in Pune

Syngenta India kicks off 10,000 km drone yatra

Pune: Syngenta India has announced a unique biodiversity sensor project featuring a centralized, biodiversity data repository that can be shared and tracked, to accelerate the accuracy of biodiversity measurements across the planet. Country head and MD of Syngenta India Susheel Kumar and chief information and digital officer, Syngenta Group Feroz Sheikh announced this breakthrough Make in India innovation to tackle the global agriculture problem. The duo also flagged off India’s first Drone Yatra, which will travel 10,000 km to create awareness of drone spraying among 10,000 farmers. The yatra will travel to 13 states to demonstrate and educate farmers on the use of drones. Syngenta is the first private company to get approval from the Central Insecticide Board, Government of India to use drones for spraying its product Amistar on paddy to protect the crops against fungal infections, Blast & Sheath Blight.

LoanTap announces business collaboration with Muthoot Finance

Pune: Digital lending fintech platform LoanTap announced a business collaboration with Muthoot Finance. The co-lending partnership will enhance the reach of Muthoot finance to the millennial audience by leveraging LoanTap’s technology and sourcing strength. Apart from the partnership with Muthoot Finance, LoanTap is already working in collaboration with many other RBI-registered NBFCs in a co-lending model for the salaried and MSME segments.

Ashish Jain, CFO of LoanTap, said, “With these co-lending partnerships, LoanTap will be able to further capitalize its reaches to millions of customers and provide them with a seamless digital onboarding experience. This partnership will bring a lot of synergies and with LoanTap’s focused business approach along with superior technology platform, we are confident to achieve higher business volumes.”

SG Mahesh, business head, Unsecured Loans of Muthoot Finance Group, said, “Through this partnership, we will be able to serve more customers especially the millennial crowd through LoanTap’s quick and simple platform and offer hassle-free personal loans to them.”

Poonawalla Fincorp ties up with All India Organization of Chemists and Druggists

Pune: Poonawalla Fincorp Limited has partnered with the All-India Organization of Chemists and Druggists (AIOCD) to offer loans at a special rate of interest to its members across India. Through this alliance, Poonawalla Fincorp aims to cater to approximately 70,000 chemists across 13 locations in Maharashtra, including Pune. Poonawalla Fincorp Limited will extend Business Loans, Loan Against Property, Pre-owned Cars, and Home Loans to AIOCD members to help address the various financing needs of the chemist and distribution fraternity.

Manish Chaudhari, Chief of Staff, Poonawalla Fincorp Limited said “These financial tools will empower and fuel the business growth and individual aspirations of the AIOCD members in achieving their life goals.”

JS Shinde, President, AIOCD said “This alliance will give our members the financial support in addressing the liquidity crunch and avail special credit facilities to enjoy cash discounts when purchasing materials from the suppliers.” Rajiv Singhal, General Secretary, AIOCD said, “It’s a joint venture that bolsters a core business strategy, creates a competitive advantage, and abates competitors from moving in on a marketplace. It allows individual entities to achieve more together than they would have on their own.”

Groww organizes ‘Ab India Karega Invest’ in Pune

Pune: Groww concluded its 25th nationwide on-ground event ‘Ab India Karega Invest’ in Pune which witnessed over 1200 attendees from the city’s retail investor community. A financial education initiative, Ab India Karega Invest aims to simplify investments for citizens across the country in a simple, secure and accessible manner.

Harsh Jain, co-founder and COO, Grow along with Parimal Ade, co-founder, InvestYadna.in and financial expert Neeraj Arora participated in the event.

Currently, Groww has close to 40 lakh users in Maharashtra. And 23 percent of users on Groww’s platform in Pune are in the age group of 25-30 years, while 19 percent of users are in the age group of 31-40 years and 18 percent of users are between the ages of 18 – 24 years. Among the total users in Pune, 53 percent of investors on Groww’s platform prefer investing in mutual funds, 43 percent in stocks and 2 percent invest in IPOs.

Jain said, “Pune is one of the leading markets in Maharashtra with a strong base of working professionals and students from B schools. We have witnessed consistent growth in our user base in this market, as an increasing number of young professionals now realize the importance of investing for a secure financial future.

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