Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

A significant percentage of organizations see artificial intelligence as the key to <keyword id="19959627" type="General" weightage="20" keywordseo="competitive-advantage" source="keywords">competitive advantage</keyword>. According to the "Industry 5.0 and <keyword id="19899640" type="General" weightage="100" keywordseo="AI" source="keywords">AI</keyword> Report," compiled by <keyword id="22094332" type="General" weightage="20" keywordseo="BML-Munjal-University" source="keywords" meta.keywordsubtype="org" meta.entityname="BML Munjal University" meta.hostid="153" meta.entityid="BML Munjal University">BML Munjal University</keyword>, 44% of organizations have experienced a significant boost in productivity through <keyword id="20230984" type="General" weightage="20" keywordseo="AI-integration" source="keywords">AI integration</keyword>. Additionally, 21% reported that AI can play a pivotal role in driving innovation, enabling the development of new products, services, and business models, particularly in sectors like finance, healthcare, manufacturing, and marketing. "Approximately 33% of organizations focus on product development, while 29% leverage AI for customer service through chatbots and robotic process automation (RPA). Marketing teams, representing 19% of businesses, utilize AI for trend analysis, while 13% apply AI to improve supply chain management. Financial planning, though less prominent (6%), benefits from AI's efficiency-boosting capabilities," the report added. Based on responses from 1,000 professionals and in-depth interviews with 50 industry experts, the report highlighted a significant shift in how businesses are integrating AI into their strategies. While AI has delivered numerous benefits, the report also highlights some key challenges. "Around 34% of organizations face a critical shortage of AI-trained personnel, which hinders their ability to fully leverage AI's potential. This skills gap highlights the need for better AI education and continuous learning programs. In fact, 31 %of organizations have started mentorship initiatives to help develop talent," the report said. AI's impact varies by sector; in mergers and acquisitions, 28% have seen benefits in personalized campaigns, but data privacy remains a hurdle for 22%. IT and augmented reality sectors report enhanced productivity (44%), but struggle with talent shortages. "In finance, AI improves risk management, though 18% face regulatory challenges. Healthcare has seen advancements in diagnostics, yet ethical concerns remain significant for 18% of professionals. In manufacturing, 23% recognize process optimization benefits from AI, but 21% struggle with legacy system integration," it said. Qualitative interviews with industry professionals reveal that transparency in AI decision-making is crucial, with 21% expressing concerns about the "black box" problem. "There are also ethical concerns, with 20% of respondents mentioning algorithmic bias and 22% expressing worries about data privacy. These issues show the need for responsible <keyword id="20355187" type="General" weightage="20" keywordseo="AI-governance" source="keywords">AI governance</keyword>, prompting 38.3% of organizations to adopt <keyword id="21198326" type="General" weightage="20" keywordseo="ethical-AI" source="keywords">ethical AI</keyword> guidelines to ensure transparency," it said. According to Pratik Modi, Dean School of Management, BML Munjal University, AI enhances human-machine collaboration. "As organisations embrace this new era, the report's findings offer a roadmap for integrating AI while prioritizing ethical standards and fostering human creativity," it said.

Most organizations see AI as key to competitive advantage, notes a new report

The ED said that the three properties belonging to <keyword id="6320" type="General" weightage="20" keywordseo="Munjal" source="Orion">Munjal</keyword> were attached under the Prevention of Money Laundering Act, 2002. The ED probe found that Munjal got issued "foreign exchange or foreign currency" in the name of other persons and thereafter utilised the same for his personal expenditure abroad. "The foreign currency or foreign exchange was drawn from authorised dealers by an event management company in the name of various employees and thereafter handed over to Munjal's relationship manager," the ED said. It said that the relationship manager carried such foreign currency or foreign exchange in cash or card secretly for the personal expenditure of Munjal during his personal or business trips. "The modus was adopted to override the limits of US$ 2.5 lakh per annum per person under the Liberalised Remittance Scheme," the ED said. The ED had earlier conducted search operations on August 1 with respect toMunjal and related entities or persons, and seized valuablesworth Rs 25 crore along with digital evidence and other incriminating documents. "The total value of seizure and attachment stands at about Rs 50 crore," the ED said. The ED case is on the basis of a charge sheet filed by Directorate of Revenue intelligence (DRI) against Munjal and others for taking foreign exchange or currency out of India illegally. The charge sheet alleges that foreign currency or foreign exchange equivalent to Rs 54 crore was illegally taken out of India.

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

The High Court is also expected to hear the plea against Hero MotoCorp's forgery case on December 6. The <keyword id="66" type="General" weightage="20" keywordseo="Delhi" source="Orion">Delhi</keyword> Police filed an FIR against the company and its officials in connection with an old matter dating back before 2010. Regarding the FIR filed against the company and its officials, the company in its statement said: "This is to inform that it is an old matter pertaining to the year 2009-10 with a disgruntled service provider, Brains Logistics Pvt. Ltd. (Promoter - Roop Darshan Pandey)." It may also be noted that while the complainant has mentioned company officials in the complaint, no official has been named in the FIR. "In 2013, Hero MotoCorp also registered an FIR against Brains Logistics and the matter is ongoing before the competent court," the Hero MotoCorp statement added.

Delhi HC stays cheating case filed against Hero MotoCorp CEO Pawan Munjal

New Delhi, The Enforcement Directorate on Tuesday conducted raids against <keyword id="6357252" type="General" weightage="80" keywordseo="hero-motocorp" source="Orion">Hero Motocorp</keyword> executive chairperson <keyword id="87849" type="General" weightage="80" keywordseo="pawan-munjal" source="Orion">Pawan Munjal</keyword> and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA). The investigation stems from a Directorate of Revenue Intelligence (DRI) complaint against a person, allegedly close to Munjal, who was investigated on charges of carrying undeclared foreign currency. The <keyword id="65338" type="General" weightage="50" keywordseo="income-tax-department" source="Orion">Income Tax Department</keyword> in March last year raided Munjal and his company <keyword id="734729" type="General" weightage="80" keywordseo="hero-motorcorp" source="Orion">Hero Motorcorp</keyword>, the country's largest two-wheeler automobiles manufacturer, as part of a tax evasion investigation. Hero MotoCorp became the world's largest two-wheeler manufacturer in 2001, in terms of unit volume sales in a calendar year, and has maintained the title for the past 20 consecutive years. The company has presence across 40 countries spanning Asia, Africa, and South and Central America. PTI NES http://ptinews.com/images/pti.jpg "We bring the World to you" Disclaimer : This e-mail message may contain proprietary, confidential or legally privileged information for the sole use of the person or entity to whom this message was originally addressed. Please delete this e-mail, if it is not meant for you. MIN MIN

ED conducts raids against Hero Motors' Pawan Munjal

New Delhi, <keyword id="6357252" type="General" weightage="20" keywordseo="hero-Motocorp" source="Orion">Hero Motocorp</keyword> share price slumped more than 4 per cent after the Enforcement Directorate carried out searches at the residence of company Chairman <keyword id="87849" type="General" weightage="20" keywordseo="Pawan-Munjal" source="Orion">Pawan Munjal</keyword>. <keyword id="7029" type="General" weightage="20" keywordseo="Hero" source="Orion">Hero</keyword> Motocorp share was trading at Rs 3,066, down 4.3 per cent on BSE. In troubles for Hero Motocorp chairman Pawan Munjal, the Enforcement Directorate (ED) on Tuesday carried out searches at his residence and several other locations. According to ED sources, the agency sleuths carried out searches at the premises of Munjal and 10 others. The source said that the financial probe agency action was based on the complaint by the Directorate of Revenue Intelligence (DRI) case against Munjal. The DRI team had found foreign currency from Munjal's premises, the source claimed. However, the officials of the ED remained tight-lipped on the case and searches against Hero Moto Corp chairman. san

Hero Motocorp stock slumps after ED searches at Pawan Munjal's residence

<keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">Edtech</keyword> major <keyword id="6630114" type="General" weightage="100" keywordseo="unacademy" source="Orion">Unacademy</keyword> has laid off 12 per cent of its workforce or over 350 employees in its latest round of job cuts. Gaurav <keyword id="6320" type="General" weightage="80" keywordseo="munjal" source="Orion">Munjal</keyword>, co-founder and CEO of Unacademy, announced the latest layoffs in a <keyword id="1815769" type="General" weightage="50" keywordseo="slack" source="Orion">Slack</keyword> message to employees, reports <keyword id="179988" type="General" weightage="50" keywordseo="techcrunch" source="Orion">TechCrunch</keyword>. "We have taken every step in the right decision to make our core business profitable, yet it's not enough. We have to go further, we have to go deeper," Munjal was quoted as saying. "Today's reality is a contrast from two years ago when we saw unprecedented growth because of the accelerated adoption of online learning. Today, the global economy is enduring a recession, funding is scarce and running a profitable business is key. We have to adapt to these changes, build and operate in a much leaner manner so we can truly create value for our users and shareholders," he added. Moreover, in a message to employees, Munjal stated that he takes "complete responsibility for the way things have turned out". In November last year, Unacademy laid off 10 per cent of its workforce or nearly 350 employees, as funding winter deepens for the Indian startup ecosystem. Earlier this year, Unacademy-run Relevel laid off 40 employees, or 20 per cent of its workforce, as it shifts its focus from the education business to "tests product" and a new app called NextLevel. Meanwhile, another edtech major BYJU's has laid off a further 15 per cent of its employees from its engineering teams, as the company continues phased layoffs to remain growth-oriented in a global economic meltdown. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/meet-the-tigers-elephants-rabbits-and-turtles-of-the-e-commerce-jungle/articleshow/99109220.cms">Meet the tigers, elephants, rabbits and turtles of the e-commerce jungle</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/how-to-subscribe-verified-blue-tick-on-facebook-and-instagram/articleshow/99108865.cms">Get verified blue tick on Facebook and Instagram now: Here’s how to subscribe and price details</a>

Unacademy lays off 12% of workforce in its latest round of job cuts

After a report claimed that edtech major <keyword id="6630114" type="General" weightage="80" keywordseo="unacademy" source="Orion">Unacademy</keyword> has laid off employees from its job hiring platform <keyword id="12215842" type="General" weightage="80" keywordseo="relevel" source="Orion">Relevel</keyword>, the company's Founder and CEO <keyword id="1727930" type="General" weightage="80" keywordseo="gaurav-munjal" source="Orion">Gaurav Munjal</keyword> said on Wednesday that there were no layoffs. "No layoffs. We have moved some team members to other Businesses of the Group though. Team worked really really hard to ensure that we find a role for everyone," <keyword id="6320" type="General" weightage="100" keywordseo="munjal" source="Orion">Munjal</keyword> tweeted. A user replied: "That's nice Gaurav. Nice to read this. Compassion towards employees and fitting them in other divisions". MoneyControl first reported that Relevel "halved its team to 700 employees" amid the economic meltdown. Relevel was launched in 2021 by <keyword id="3886063" type="General" weightage="50" keywordseo="shashank-murali" source="Orion">Shashank Murali</keyword>, Saksham Keshri and Prakash Kumar, on the back of strong traction witnessed in user growth, hiring company partnerships, and placement rate. Last year, Relevel raised $20 million from its parent edtech company Unacademy. In April, Unacademy laid off nearly 600 employees, contractual workers and educators, about 10 per cent of its 6,000-strong workforce across the group. As the funding winter hit edtech startups and unicorns in India, Unacademy founders and management took pay cuts. In an internal email last month, Munjal said that even though the company has more than Rs 2,800 crore in the bank, "we are not efficient at all". "We spend crores on travel for employees and educators. Sometimes it's needed, sometimes it's not. "There are a lot of unnecessary expenses that we do. We must cut all these expenses. We have a strong core business. We must turn profitable asap," the email read. "We will be shutting down certain businesses that have failed to find the product market fit (PMF) like the <keyword id="14425744" type="General" weightage="50" keywordseo="global-test-prep" source="Orion">Global Test Prep</keyword>," he told the employees. Unacademy last month said that a small fraction of its workforce (2.6 per cent) has been asked to go as part of a performance improvement programme (PIP). Nearly 150 employees (2.6 per cent) from Unacademy's PrepLadder team were laid off. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/syrma-sgs-technology-ipo-last-day-to-subscribe-grey-market-premiums-at-25/articleshow/93625416.cms">Syrma SGS Technology IPO: Last day to subscribe, grey market premiums at ₹25</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-to-open-slightly-lower-on-us-fed-signals-of-more-rates-hikes/articleshow/93628803.cms">Markets to open slightly lower on US Fed signals of more rates hikes</a>

Unacademy founder Gaurav Munjal says its job hiring platform will see no layoffs

The asset base of non-banking financial companies has scaled past Rs 54 lakh crore as of March 2022, constituting almost a quarter of the balance sheet of the commercial banking sector, Union Minister <keyword id="15586957" type="General" weightage="80" keywordseo="bhagwat-krishanrao-karad" source="Orion">Bhagwat Krishanrao Karad</keyword> said on Tuesday. It can be noted that since the fall of the two major non-banking financial companies (NBFCs) -- IL&amp;FS and Dewan Housing <keyword id="25455" type="General" weightage="100" keywordseo="finance" source="Orion">Finance</keyword> Ltd (DHFL) -- the shadow banking industry was in a long crisis. This crisis was more to do with their ability to mop up lendable funds as banks shunned them on one side and the RBI kept on tightening the regulatory noose around them, finally bringing them on par with banks when it comes to bad loan recognition since November 2021. Addressing a CII-organised <keyword id="6355260" type="General" weightage="80" keywordseo="nbfc" source="Orion">NBFC</keyword> summit, the Union Minister of State for Finance said NBFCs have become the major growth driver of the economy by playing a vital role in providing credit to small and medium enterprises. They have helped the MSME sector scale up its operations and create more jobs. They have helped create higher credit growth than the commercial banking sector --NBFCs loans grew over 10 per cent last fiscal while for banks, it was just half of that. The main reason for their success is that they have customised products and become an innovation machine of the financial landscape, Karad said. He also credited digitisation and customer service for their success, which has seen their balance-sheet size more than double to 25 per cent of the balance sheet size of the banking sector as of March 2022 from just 12 per cent in fiscal 2010. NBFCs are investing in digital technology like artificial intelligence and big data. It will also bridge the financial gap in the coming years due to its low cost of operations, the minister said, adding NBFCs have become a strong alternative to the banking sector. CII's NBFC forum chairman <keyword id="806982" type="General" weightage="80" keywordseo="abhimanyu-munjal" source="Orion">Abhimanyu Munjal</keyword>, who also heads <keyword id="1391131" type="General" weightage="80" keywordseo="hero-fincorp" source="Orion">Hero Fincorp</keyword>, said NBFCs disbursed almost 60 per cent of their loans digitally in FY22 and have also achieved real-time customer onboarding. He said around 11.3 million MSMEs have taken collateral-free loans worth Rs 2.32 lakh crore from NBFCs till June 2022. The credit demand in the NBFC sector is expected to grow to almost Rs 30 lakh crore in the next couple of years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-pour-11452-crore-in-financial-services-in-the-first-half-of-november/articleshow/95681904.cms">FPIs pour ₹11,452 crore in financial services in the first half of November</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/airtel-payments-bank-rolls-out-e-kyc-based-face-authentication-for-opening-saving-accounts/articleshow/95683429.cms">Airtel Payments Bank rolls out e-KYC-based face authentication for opening saving accounts</a>

NBFCs' asset base scales past Rs 54 lakh crore: MoS Finance

<ul><li><keyword id="6122092" type="General" weightage="20" keywordseo="hero-lectro" source="Orion">Hero Lectro</keyword> has been leading the <keyword id="3942577" type="General" weightage="20" keywordseo="e-cycle" source="Orion">e-cycle</keyword> race in India. Out of the 100,000 e-cycles sold in the country so far, Hero Lectro accounts for 70%.</li><li><keyword id="3912924" type="General" weightage="20" keywordseo="aditya-munjal" source="Orion">Aditya Munjal</keyword>, CEO of Hero Lectro speaks to us on the brand's journey so far, a few challenges and a few areas of focus for the brand and the industry to grow.</li></ul>While the pandemic and the ensuing lockdown threw a lot of curveballs at us, perhaps changing our lives forever, there are a few things it did that might turn out to have a positive impact in the long-run. Among many big and small changes, there has been a move towards sustainability and people are now more conscious about making lifestyle changes that not just help improve their lives but also help the environment. While the Western world has been big on cycling for years now, things are slowly picking up in India too, and the pandemic has given it just the push it needed. And with this uptick in cycling enthusiasm, the market for e-cycles is slowly heating up too. While still at a nascent stage in India, people are now opening up to give e-cycles a try. Identifying the opportunity in the space, Hero Cycles has entered the segment and coming up with e-cycles under the brand Hero Lectro. The brand sells e-cycles spanning 15 variants across multiple utilities including products with and without gears. It also provides solutions for commuting, recreation as well as last-mile delivery. In a recent conversation with Aditya Munjal, CEO of Hero Lectro, we tried to understand a bit more about the segment, where things stand in India and what the future looks like. The e-cycles industry and where Hero Lectro stands The e-cycle segment is still at a nascent stage in India but there has been a doubling of growth for the segment in the last few years. The market has roughly sold 100,000 e-cycles so far and Hero Lectro accounts for nearly 70% of that number, shared Munjal. The lockdown gave it the push it needed, with people rediscovering the outdoors and opting for cycling at a time when they were stuck at home and were looking for some kind of activity. While the first year of the pandemic saw a big surge in demand, growth for the segment has now stabilized, Munjal said. There has also been a steady evolution in the consumer profile of e-bikes. While initially, it was primarily cycling enthusiasts opting for e-cycles, in the last couple of years, many city consumers are also increasingly looking at e-cycles as a viable mode of conveyance to their work places or simply to work errands. In fact, the growth is no longer restricted to metro cities. “Currently, non-metros account for 6 out of every 10 bikes we sell. We are seeing Tier II and III cities really come up. And within metros, we have seen women increasingly opt for our products as well. Also, in metros, people staying within 15 kilometers of their workspace are starting to use e-cycles. People who would normally share rides or use public transport are now buying the products. Initially, they started by using it once or twice in a week but with time, they've started using the cycles for going to work every day. It's a natural trend where premium cyclists are seeing this as a new technology and revolution, so there's natural excitement,” explained Munjal. Currently, the brand is witnessing maximum excitement from premium cyclists. “We are also seeing a lot of enthusiasm around our products for work commute. We have just launched cargo and in my view, that is another segment that will bring in a lot of excitement along with numbers,” shared Munjal. How the government can help in the growth of e-cycles While there is growing enthusiasm among people for e-cycles, there are still a few roadblocks ahead. The government has been talking about the need for more sustainable mobility but the cycling industry has been kept out of key policies like production-linked incentive (PLI) or Fame 2. Demand in India also hasn’t taken off yet possibly because of the higher cost of the product, and this, Munjal feels is a problem that can be solved if the government includes e-cycles in its subsidy schemes. Talking about the kind of support the industry needs to give it the required push, Munjal said, “For us the responsibility is not just to grow the brand but also the segment. We have built a large, truly futuristic factory in Punjab, the idea was to cater to competitive supplies for e-bikes in India and abroad. Globally, we have to compete with decade-old manufacturing facilities in places like China, Taiwan, Cambodia, who have great benefits. So, one benefit that will make us competitive for the world would be the PLI. That’s a direct assistance which will really make the world see India as a true hub for buying e-bikes. The second task is to build demand in India. If the Fame 2 subsidies get extended to e-cycles, the will become more accessible to a lot of new people.” Focus areas ahead The brand is currently focusing on coming up with products that fill a need gap. Munjal said going ahead too, the brand will continue doing that while also figuring out ways of making the brand attractive for the younger audience. It has been changing its marketing strategy according to the audience they want to talk to. While it has been using digital to reach out to its target consumers, going ahead, it would also depend a lot on experiential, where a lot of importance will be given to people trying their products. “Our job is to create a desire for our brands and relating to the audience and their lifestyles today which is changing really fast. Our job is also to create great products and communicate about them in an aspirational manner. We are doing it already and going ahead too, we will continue doing it. Our aim also is to grow the segment on the whole,” said Munjal.

For us, the responsibility is not just to grow the brand but also the e-cycle segment: Aditya Munjal, Hero Lectro

Two-wheeler major <keyword id="6357252" type="DOMAIN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has surpassed the significant milestone of 100 million (10 crore) units in <keyword id="10631540" type="UNKNOWN" weightage="20" keywordseo="cumulative-production">cumulative production</keyword>. The 100 millionth bike, the Xtreme 160R, was rolled-out of the Company's manufacturing facility in Uttarakhand's Haridwar. This is the 20th consecutive year that Hero MotoCorp has retained the title of the world's largest manufacturer of two-wheelers. According to the two-wheeler major, this is one of the fastest global achievements of the 100 million cumulative production mark, with the last 50 million units coming in a span of just seven years. "This significant landmark is also an affirmation of the inherent capabilities in India and Hero's Brand appeal. We have been making in India, for the world - and this milestone is an acknowledgment of the customers' preference for Hero across geographies, demographics and generations," said <keyword id="87849" type="PERSON" weightage="20" keywordseo="Pawan-Munjal">Pawan Munjal</keyword>, Chairman &amp; CEO, Hero MotoCorp. "We are going to continue to ride our growth journey. In keeping with our vision to 'Be the Future of Mobility', we will be launching a host of new motorcycles &amp; scooters over the next five years, in addition to expanding our global footprint. We will also continue to invest in R&amp;D and focus on new mobility solutions." Besides, <keyword id="6320" type="DOMAIN" weightage="20" keywordseo="Munjal">Munjal</keyword> outlined Hero MotoCorp's plans and vision for the next five years. As part of the next five-year plan, Hero MotoCorp will introduce over 10 products - including variants, refreshes and upgrades - every year. In addition, the company will continue to grow its operations in markets outside India and also enter new geographies. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/us-new-president-joe-biden-will-oppose-new-delhis-5-5-billion-deal-with-russia-for-the-s-400-missile-as-per-washington-d-c-based-expert/articleshow/80382062.cms" data-type="tilCustomLink">INTERVIEW: Joe Biden may be as harsh as Donald Trump if India insists on buying S-400 missiles from Russia, says a Washington D.C-based expert</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finances-1153-crore-ipo-has-opened-as-markets-hope-budget-will-push-for-affordable-housing/articleshow/80381788.cms" data-type="tilCustomLink">Warburg Pincus-backed Home First Finance’s ₹1,153 crore IPO has opened as markets hope budget will push for affordable housing</a>

Hero Motocorp hits the 100 million cumulative production milestone

<ul><li>Bengaluru-based <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> startup <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> has been riding high. With a successful association with TVF on its show Aspirants and standout <keyword id="6354312" type="COMPANY" weightage="20" keywordseo="IPL">IPL</keyword> campaigns, the startup is ready with its <keyword id="6354839" type="UNKNOWN" weightage="20" keywordseo="marketing">marketing</keyword> plans for the IPL matches that resume in September.</li><li>We recently caught up with <keyword id="4878889" type="PERSON" weightage="20" keywordseo="Karan-Shroff">Karan Shroff</keyword>, Chief Marketing Officer, Unacademy, to understand the brand’s marketing journey so far, how its strategies have worked to bring new users onto its platforms and how it is going about ensuring it becomes a household name in the next few years.</li></ul>The last one and a half years have been challenging for most businesses across the globe. However, India’s edtech sector has witnessed a boom. With students stuck at home, having to move to online classes, online learning became a way of life, and the Indian edtech ecosystem gained from this immensely. 2020 also made investors realize the opportunity in the segment and the year saw India’s edtech startups raise over $2.2 billion in funding. And it was during this otherwise difficult year that <keyword id="1727930" type="PERSON" weightage="20" keywordseo="Gaurav-Munjal">Gaurav Munjal</keyword>'s edtech startup Unacademy became a unicorn. The startup raised $150 million in a round led by SoftBank, valuing it at $1.45 billion, making it the second unicorn in the space, after BYJU’s. It also made six acquisitions through 2020. Unacademy currently boasts of over 50,000 educators and close to 49 million learners on its platform, a number that is steadily growing. Recently, they also released a film to thank both the learner and educator community for bringing them where they are today. The film said the platform has over 5 million monthly active users, learners from over 10,000 cities from across the country. The platform sees over 150,000 interactive classes conducted every month, in 14 different languages. Recently, it also revamped the app to make it more intuitive and interactive, adding features like hand raising, study groups and live mentorship. <div type="Youtube" id="0gjFof0m6ow" title="Unacademy Believe" thumbUrl="https://i.ytimg.com/vi/0gjFof0m6ow/mqdefault.jpg"></div> When it comes to its marketing strategies so far, the platform has tailored its approach keeping its learner ecosystem at its core. A lot of its recent campaigns have also been about grabbing eyeballs and reaching their target audience, where they are. While we saw Unacademy ‘hijack’ the IPL commentary box earlier this year, a novel idea, we also saw the brand partner with TVF’s widely popular show Aspirants. The aim has been to raise awareness about the platform and tell learners how it is different. We recently caught up with Karan Shroff, Chief Marketing Officer, Unacademy, to understand the brand’s journey so far, how its strategies have worked to bring new users onto its platforms and how it is going about ensuring it becomes a household name in the next few years. Unacademy’s marketing story The last one and a half years have been difficult for businesses the world over but Unacademy has been riding high. Most of its marketing strategies have worked in its favor too. Unacademy is the official partner for IPL for three seasons. In the first year, Unacademy’s film ‘Cracking the Game’, was well-received and won several awards. This year too, its campaign in the form of a commentary box highjack helped it differentiate itself. The IPL associating has also helped the platform gain the necessary eyeballs as it can be believed that a lot of its target audience watches the league. So is Unacademy looking at this year’s IPL postponement as a speed bump? “I don’t think it is a bump. Once IPL restarts, we will continue being present. In fact, I see it as a good thing because IPL is a highly engaging event that runs nonstop for 55-60 days. So this year, the break I feel gives us a second boost,” explained Shroff. The brand has a few more campaigns planned for the second half of the event that will go live once the matches resume. On why it chose to associate with IPL, he said, “It was a strategic call to be a part of the league. IPL is the biggest cricketing league in the world, one that is watched by almost all of our country. The thought behind the association was that the Indian youth is entirely invested in the property, they love the intensity and energy of the league. With around 60 days of the league, it becomes difficult to miss a brand that advertises during the matches. We wanted to create awareness and become a household name. IPL has worked as a catalyst for us. With millions of people watching the league, we could leverage the reach and get the eyeballs but also it helped us build awareness and top-of-mind for the brand.” Unacademy had also launched an inspirational film titled ‘The Greatest Lesson’, taking viewers through the ups and downs of Sachin Tendulkar’s career, a film that was very well-received. The aim behind capitalizing on sports, especially cricket, has helped the brand stand out for many young people, after all the sport is still a religion in India. <div type="Youtube" id="7nYLfqkI8ZA" title="Unacademy | The Greatest Lesson" thumbUrl="https://i.ytimg.com/vi/7nYLfqkI8ZA/mqdefault.jpg"></div> Its latest partnership with TVF for Aspirants, through which it tried to target UPSC aspirants, has also worked in the brand’s favor. Unacademy wanted to deep-dive into the segment, bring up real stories, and tell the stories through relatable characters. Shroff also revealed that it is going to be a multi-season association with TVF and there will be more seasons to the show. So did the last one year throw no curveballs, when it came to its marketing plans? “One of the things we did when we started working from home with restricted physical access to each other from an office space perspective, we started making multiple plans, be it a shoot, a campaign or a simple social media post, we always had multiple plans and options to fall back on. We did this because it was a pandemic and nobody really knew what was in store and what lay ahead of us. So having a Plan B and C really helped us. And that has been one of our biggest learnings in these past months,” said Shroff. On driving differentiation According to estimates by <keyword id="50041" type="COMPANY" weightage="20" keywordseo="KPMG">KPMG</keyword>, India today has over 3,500 edtech startups, so driving differentiation becomes critical ingredient in the recipe for success. On how Unacademy has been trying to differentiate itself, Shroff said, “Our thought-process is fairly simple, we keep the consumer or in our case, the learner, at the heart of everything we do. So everytime we build a campaign we sit back and think, why, when and how. Why is of course, always for the consumer. So if the ‘Why’ doesn't feel like its adding value to the learners, we usually don't go ahead with it. Everything that we do costs marketing dollars and as long as your focus is on learners and the consumers, they're at the heart of everything and you're sure that your communication is reaching them, its then just about crafting a good communication.” The vision for Unacademy Going ahead, Shroff wants to focus more on building the brand presence on various properties. On what his larger vision for the brand is, Shroff added, “It’s to become a household name, and while there is still some ground to cover, I think we are moving in that very direction. We want to build a legacy of sorts, the way brands like Colgate and Maggi have done. If you are known from a communication and awareness perspective, it makes it so much easier to become a part of the consumer’s life and that’s what we are aiming for.”

You Searched For "Munjal" and got 11 results

Most organizations see AI as key to competitive advantage, notes a new report

PTI

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

IANS

Delhi HC stays cheating case filed against Hero MotoCorp CEO Pawan Munjal

IANS

ED conducts raids against Hero Motors' Pawan Munjal

PTI

Hero Motocorp stock slumps after ED searches at Pawan Munjal's residence

IANS

Unacademy lays off 12% of workforce in its latest round of job cuts

IANS

Unacademy founder Gaurav Munjal says its job hiring platform will see no layoffs

IANS

NBFCs' asset base scales past Rs 54 lakh crore: MoS Finance

PTI

For us, the responsibility is not just to grow the brand but also the e-cycle segment: Aditya Munjal, Hero Lectro

Samarpita Banerjee

Hero Motocorp hits the 100 million cumulative production milestone

IANS

We want to become a household name and are already moving in the right direction: Karan Shroff, Unacademy

Samarpita Banerjee

Popular Keywords

Buying Guides