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Global online higher education provider <keyword id="2008319" type="PERSON" weightage="20" keywordseo="Upgrad">upGrad</keyword> on Monday became another unicorn from the country, after it announced to close a total of $185 million funding round at a market valuation of $1.2 billion. The company raised fresh funds from Temasek, IFC (International Finance Corporation, a sister organisation of <keyword id="6354424" type="DEFINITION" weightage="20" keywordseo="world-bank">World Bank</keyword>) and IIFL. "We are very focused on our path to being in the top three-five companies globally in edtech and serving the one billion workforce across the age group of 18-60. We are pleased with the investor interest ever since we opened up for a fundraise, and had our maiden raise from Temasek, followed by IFC and IIFL in the last 60 days," said <keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>, Chairperson and Co-founder, upGrad. In April, UpGrad had raised $120 million from Temasek, a global investment company headquartered in Singapore. "We will announce further updates on M&amp;As, and unlocking value as they unfold. Yes, the last value was at $1.2 billion but as I keep saying, we are not a fan of the tag name, unicorn. For us, it is only a means to a much larger goal," he said in a statement. Recent reports suggested that company is in advanced talks for a $400 million fundraise at a valuation of $4 billion. upGrad has earmarked $250 million for mergers and acquisitions (M&amp;As) over the next seven-nine months, as it strengthens non-linear growth strategy. upGrad is set to cross $500 million annual revenue run rate by March 2022 and is looking to raise close to $400 million at a $4 billion valuation. upGrad has built out a strong tech platform and deep immersive learning experience with high touch-points to capture close to 70 per cent of the Indian higher education market for working professionals. Earlier this month, upGrad acquired global firm <keyword id="9947964" type="UNKNOWN" weightage="20" keywordseo="KnowledgeHut">KnowledgeHut</keyword> for an undisclosed sum. KnowledgeHut, an <keyword id="11781040" type="UNKNOWN" weightage="20" keywordseo="upgrad-company">upGrad Company</keyword>, expects to cross Rs 300 crore in revenue next year, 65 per cent of which will be from countries across North America, Middle East and South-East Asia. As per industry estimates, there are 53 unicorns currently in India, with a tentative valuation of Rs. 1.4 <keyword id="69692" type="COMPANY" weightage="20" keywordseo="Lakh">lakh</keyword> crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/amara-raja-batteries-invests-in-five-year-old-startup-log-9/articleshow/85174877.cms">Battery maker Amara Raja invests in five-year-old startup Log 9</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazons-kindle-could-have-been-easily-hacked-through-malicious-e-books/articleshow/85173995.cms">Amazon’s Kindle e-readers could be prone to hacking through malicious e-books</a>

Ronnie Screwvala's UpGrad is India's newest entry into the unicorn club as it closes a $185 million funding round

<ul><li>Online higher education platform <keyword id="2008319" type="LOCATION" weightage="20" keywordseo="Upgrad">upGrad</keyword> may roll out degree courses in collaboration with Indian and foreign universities, starting next financial year. </li><li>The edtech startup said that it is eyeing ₹1,000 crore revenue in 2020-21, thanks to the growing average revenue per user (ARPU). </li><li>It is also planning to spend ₹175 crore in branding and marketing campaigns this year. </li></ul>Online higher education platform upGrad may roll out degree courses in collaboration with Indian and foreign universities, starting next financial year. "We are in talks with three universities for jointly developing curriculum for the degree courses,"<keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>, Executive Chairman and Co-Founder told news agency PTI. This came after the Finance Minister Nirmala Sitharaman, in her latest budget speech said that the government will launch a full-fledged ‘degree-level’ online courses in India and that too by top 100 national ranking institutions. This is aimed at providing quality education to the underprivileged. The edtech startup said that it is eyeing ₹1,000 crore revenue in 2020-21, thanks to the growing average revenue per user (ARPU). Screwvala said that India is among the countries with the lowest ARPU across sectors like media, telecom, content, retail and others. "The last three years at upGrad, owing to our high investment in content, learning experience, diversity of programmes, deep tech, strong university alliances and a high over 80 per cent completion rates, have put us at a clear inflection point for this decade," he said. It is also planning to spend ₹175 crore in branding and marketing <a href="https://www.business-standard.com/article/companies/screwvala-backed-upgrad-to-roll-out-rs-175-cr-marketing-blitz-in-2020-119123101387_1.html">campaigns</a> this year. upGrad offers postgraduate certificates and diplomas for professionals in association with higher education institutions like Cambridge University, Duke University, BITS Pilani, MICA and others. The startup claims to have over 21,000 users on its platform with an [full form] ARPU of nearly ₹2.4 lakh per learner. It is now planning to add nearly 4,000 more this quarter, reaching an annual run-rate of ₹400 crore. upGrad says it offered jobs in over 300 cities for roles in data, digital, management, software, machine learning and artificial intelligence, thereby adding growth to its revenue. "Brand affinities are very low and looking for the best or lowest price is the bedrock of the India consumption story. Education is and will be the exception and allocation of wallet share will increase for edTech, as most in the workforce play catch up in their careers with the innovations and disruptions of this century," Screwvala said. See also: <a href="https://www.businessinsider.in/business/startups/news/upgrad-has-almost-half-of-its-online-learner-base-in-tier-2-and-tier-3-cities/articleshow/72036958.cms">This Indian startup gains as students from Tier 2 and 3 cities opt for online digital courses</a> <a href="https://www.businessinsider.in/careers/news/heres-why-digital-marketing-is-as-lucrative-a-career-as-data-science-and-machine-learning/articleshow/73218353.cms">Here's why digital marketing is as lucrative a career as data science and machine learning</a>

Ronnie Screwvala syncs with Finance Minister’s plan⁠— upGrad will roll out online degree courses this year

A few weeks ago Ronnie Screwvala ⁠— the media baron who founded the edtech unicorn Upgrad ⁠— was astounded by the amount of money flowing into to fill up empty fridges of <keyword id="12794222" type="General" weightage="20" keywordseo="bachelors/maidens" source="Orion">bachelors/maidens</keyword> who can’t plan their purchases. Now, blaming bachelors/maidens may be an unnecessary cliche, but they don’t care and you get the point. There are 20 million households in 2020, which bought items online and wanted them delivered by the time one could find the missing sock in a pair. <div type="image" title="Quick commerce" msid="88438835" hostid="261"></div> This is called <keyword id="12724312" type="General" weightage="20" keywordseo="quick-commerce" source="Orion">quick commerce</keyword>, the latest buzzword in Indian e-tail used to describe super fast deliveries within 15-20 minutes of the order being placed. Earlier in 2020, <keyword id="2591679" type="General" weightage="20" keywordseo="ronny-chieng" source="Orion">Ronny Chieng</keyword>, the Malaysian comic and a regular at The Daily Show, came up with this hilarious act describing the growing impatience of Americans. “Send it to me before I want it,” he declared before the audience roared in laughter. <div type="image" title="Ronny Chieng on Netflix Is A Joke" msid="88438940" hostid="261"></div> Now, less than 24 months since, more than a billion dollars have been invested in Indian startups chasing quick commerce, this year alone. While you were laughing at Ronny Chieng’s joke. A company like <keyword id="2466939" type="General" weightage="20" keywordseo="grofers" source="Orion">Grofers</keyword>, which <a href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms">couldn’t make a success story</a> out of delivering groceries in 90 minutes five years ago, has now made an <a href="https://www.businessinsider.in/business/startups/news/grofers-founder-explains-why-he-rushed-to-rebrand-the-startup-and-his-plans-seem-ambitious/articleshow/88320706.cms">ambitious</a> bet on delivering the same within 10 minutes. <div type="image" title="Investment in quick commerce" msid="88438986" hostid="261"></div> So much so that <a href="https://www.businessinsider.in/business/startups/news/zepto-raised-100-million-at-570-va[%E2%80%A6]to-deliver-product-in-10-minutes/articleshow/88394937.cms">two teenage Stanford dropouts</a> started a quick commerce seven months ago and it’s already worth half a billion dollars. These are only the numbers we know so far. If one considers the 20 million homes that are already customers for such quick deliveries, the total investment would amount to $60 (₹4,500) per home. Hope floats that more people in India get lazier and order things just when they want it and pay more for the stuff in delivery cost. Time for a chart! <div type="image" title="RedSeer estimate on growth of quick commerce" msid="88439084" hostid="261"></div> <div type="image" title="Quick Commerce" msid="88439520" hostid="261"></div>

SIMPLY PUT: This billion dollar business model was a Netflix joke in 2020

Eyeware retailer <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> has raised Rs 135 crore in fresh capital in its third round of funding. The company has in its Series C (final rounding of early funding cycle) raised the funds as co-investment from <keyword id="141646" type="COMPANY" weightage="20" keywordseo="TPG-Growth">TPG Growth</keyword> along with Hong Kong-based TR Capital and its existing investor IDF Ventures. 
	 Interestingly, the company has raised a total of Rs 200 crore in three rounds of funding that has happened so far. In February 2013, the company had received an investment of Rs 53 crore from <keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>’s Unilazer Ventures along with IDG Ventures India. 
	 
	“In TPG, we found strategic partners and advisors with proven capability to build a large consumer-centric enterprise. The TPG brand is another feather in our cap. With this new investment, we will be hiring the best talent and give them a world-class environment to innovate and solve India’s eyewear problems at a very large scale,” said Peyush Bansal, CEO &amp; Founder of Lenskart. 
	 
	Commenting on the same, Manas Tandon, Director, TPG Growth said, “TPG globally is an active investor in the Internet sector. We are excited about the evolution of Internet in India and are delighted to partner with Lenskart as our first investment in this space. The Lenskart team brings to the table an impressive focus on customer service and keen commercial instincts, thereby building a dominant position in the eyewear space, while maintaining attractive unit economics.” 
	 Currently, the company clocked in revenues of nearly Rs 100 crore and has been growing at 15% every month. Lenskart was founded in 2010 by <keyword id="2674246" type="UNKNOWN" weightage="20" keywordseo="Peeyush-Bansal">Peeyush Bansal</keyword> along with Amit Chaudhary and Sumeet Kapahi. The company claims to have grown by over 200% year on year.

Lenskart
Raises Rs 135 Crore As Fresh Capital

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s total merchandise exports are expected to grow by 33 per cent during the second quarter of <keyword id="5027223" type="General" weightage="20" keywordseo="fy22" source="Orion">FY22</keyword>, the <keyword id="402797" type="General" weightage="20" keywordseo="export-import-bank-of-india" source="Orion">Export-Import Bank of India</keyword> said on Friday. Accordingly, <keyword id="10407892" type="General" weightage="20" keywordseo="india-exim-bank" source="Orion">India Exim Bank</keyword> forecast total merchandise exports in Q2FY22 to grow to $98.45 billion from $74.02 billion reported for the corresponding quarter of the previous financial year. Besides, non-oil exports are expected to rise 28.3 per cent to $85.63 billion, as compared to $66.73 billion reported for the corresponding quarter of the last fiscal. "The rise in India's exports could be attributed largely to the low base effect, pick-up in growth in advanced economies and the resultant increase in global import demand," India Exim Bank said in a statement. "Increase in commodity prices have also contributed to the increase in India's exports," it added. The forecasts are based on India Exim Bank's Export Leading Index (ELI) model. These forecast are released by India Exim Bank on a quarterly basis, during the first week of June, September, December and March for the corresponding quarters. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-investment-firm-leads-10-million-round-in-lido-learning/articleshow/86093922.cms">Ronnie Screwvala’s investment firm leads $10 million round in Lido Learning</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/den-networks-hathway-cable-biocon-alembic-pharma-ujjivan-financial-services-eron-international-stocks-are-going-down/slidelist/86093519.cms">Den Networks, Biocon, Alembic Pharma and more -- here’s why these companies made no money to investors even in a bull run</a>

India's exports expected to grow by 33% during the second quarter

Equity benchmark <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> tumbled over 300 points in early trade on Monday, tracking losses in index majors Infosys, HDFC Bank and ICICI Bank amid concerns over the spread of the <keyword id="1609796" type="General" weightage="20" keywordseo="omicron" source="Orion">Omicron</keyword> variant in the country and weak cues from global markets. The 30-share index was trading 311.11 points or 0.54 per cent lower at 57,385.35 in initial deals. Similarly, the <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> fell 81.70 points or 0.48 per cent to 17,115. IndusInd Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Maruti, Bajaj Finance, Bajaj Finserv, Infosys and <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>. On the other hand, Tata Steel, L&amp;T, HUL, HDFC and UltraTech Cement were among the gainers. In the previous session, the 30-share equity benchmark ended 764.83 points or 1.31 per cent lower at 57,696.46, and Nifty tanked 204.95 points or 1.18 per cent to 17,196.70. <keyword id="6438315" type="General" weightage="20" keywordseo="Foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> (FIIs) remained net sellers in the capital market, as they sold shares worth ₹3,356.17 crore on Friday, as per exchange data. This week, the market direction is likely to be determined by two factors: one, news regarding the spread of the Omicron variant of the virus and two, the outcome of the monetary policy review on Friday, said VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services. The latter is unlikely to be market-moving since MPC is likely to continue with the accommodative stance and status quo on policy rates. The market-moving factor will be the news regarding Omicron, he noted. Elsewhere in Asia, bourses in Hong Kong and Tokyo were trading with losses in mid-session deals, while Shanghai and Seoul were positive. Meanwhile, international oil benchmark Brent crude rose 1.99 per cent to USD 71.27 per barrel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-upgrad-is-in-talks-to-acquire-rival-talentedge-for-nearly-400-crore/articleshow/88116852.cms">Ronnie Screwvala's upGrad is in talks to acquire rival Talentedge for nearly ₹400 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/samsung-reportedly-planning-to-launch-upcoming-flagship-galaxy-s22-ultra-on-february-8/articleshow/88117090.cms">Samsung reportedly planning to launch upcoming flagship, Galaxy S22 Ultra, on February 8</a>

Sensex drops over 300 points in early trade; Nifty tests 17,100 — IndusInd Bank, Maruti, Bajaj Finance, Bajaj Finserv, Infosys and NTPC top losers

<ul><li>Myntra and Facebook-backed Meesho sold<a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms"> 60 orders every second</a> or over 5 million products in total on one day of their sale.</li><li>The Consumer Confidence Survey, carried out by the central bank of India, is still in <a href="https://indianexpress.com/article/business/households-see-high-prices-over-next-3-months-consumer-confidence-rises-7965166/">the negative territory</a>.</li><li>The impact of this reduced sentiment however isn’t as bad, especially in discretionary spends.</li></ul>India’s e-commerce titans — Amazon, Flipkart and Myntra — are all hosting their mid-year sales at the moment. It might sound like a bad time as customer sentiment is low due to inflation, layoffs, increasing interest rates and more. But the e-commerce market behaves much differently than<a href="https://www.businessinsider.in/stock-market/news/why-you-should-continue-your-investments-and-sips-in-bear-markets/articleshow/92199199.cms"> the stock markets</a>. Both Myntra and Facebook-backed Meesho — which is the latest entrant among the biggest e-commerce players — sold<a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms"> 60 orders every second</a> or over 5 million products in total on one day of their sale. For Myntra, it was the first day of its End of Reason sale held between June 11-16 and for Meesho, it was their one-day sale held a week before. Amazon and Flipkart have not yet revealed the performance of their sales yet. *While inflation and high petroleum prices are impacting everyone, consumer sentiment is not universally low. There are many categories in discretionary spending which are still having high sales. Anything with relatively high quality and reasonable pricing seems to be doing well,” N Chandramouli, founder of brand intelligence company TRA Research, too noted. According to several experts Business Insider spoke with, the right product at the right price matters. The Consumer Confidence Survey is still in <a href="https://indianexpress.com/article/business/households-see-high-prices-over-next-3-months-consumer-confidence-rises-7965166/">the negative territory</a>. The Reserve Bank of India’s (RBI) consumer confidence index showed slight improvement to 75.9 in May, compared to 71.7 in March, but it is still in the negative. The impact of this reduced sentiment however isn’t as bad, especially in discretionary spends. “The consumer sentiment isn't as negatively impacted as people are projecting it to be,” Shrenik Gandhi, co-founder and CEO of digital marketing agency White Rivers Media, told Business Insider India. He noted that businesses have to come up with the right products and services at the right time, right price to attract customers. <cmsannotation type="cmsannotation" annotationid="A white space for brands" comment="subhead" text="A white space for brands">A white space for brands</cmsannotation> Shahan Sud, an investment banker turned VC, explained that the union of the attention recession and the impending recession will create a white space for brands that will allow them to curate their stockkeeping unit (SKU) that cater to consumers that are looking for a “value buy, but one that keeps up the fashion trends of the season”. A previous report by ICICI Securities, published earlier this week, also noted that the discretionary companies like retail, QSRs and jewellery will be performing well for now. The low-ticket segment of staples would have the biggest impact of the negative sentiment due to their dependency on the bottom strata for incremental volumes. <cmsannotation type="cmsannotation" annotationid="Beauty, durables will be the biggest sellers in 2022" comment="subhead" text="Beauty, durables will be the biggest sellers in 2022">Beauty, durables will be the biggest sellers in 2022</cmsannotation> Madhur Singhal, managing partner and CEO of Praxis Global Alliance, noted that there will be significant increase in direct-to-consumer (D2C) brands selling beauty, home, kitchen, utilities, and durable goods. Besides this, even electronics and durables will also record good sales this year. He believes that things could be much better than they are now. He noted that the sales will be soft for a few months before they pick up. Contrary to the popular opinion, he noted that the festive sales growth might be muted compared to last year as the trends of revenge buying and pent-up demand have faded away. “I think this year’s festive season will be much better than the previous two years, with consumer spend increasing,” Chandramouli said, differing from Singhal’s opinion. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ril-hdfc-sbi-zomato-among-stocks-to-watch-out-for-on-june-16/slidelist/92242578.cms" style="">RIL, HDFC, SBI, Zomato among stocks to watch out for on June 16</a> <a href="https://www.businessinsider.in/business/startups/news/cashe-is-now-offering-instant-loans-on-whatsapp-in-30-seconds/articleshow/92230354.cms" style="">A company is now offering instant loans on WhatsApp in 30 seconds</a> <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-upgrad-is-now-worth-more-than-2-billion/articleshow/92227976.cms">Ronnie Screwvala's UpGrad reportedly worth over $2 billion after fund infusion by Lakshmi Mittal and Sunil Bharti Mittal</a>

Amazon, Flipkart and Myntra sales – all unaffected by low consumer sentiment

Thiruvananthapuram, <keyword id="28504" type="General" weightage="20" keywordseo="Kerala" source="Orion">Kerala</keyword> Chief Minister <keyword id="6356705" type="General" weightage="20" keywordseo="Pinarayi-Vijayan" source="Orion">Pinarayi Vijayan</keyword> on Friday said the state government aims to complete the first dose of <keyword id="54639" type="General" weightage="20" keywordseo="vaccination" source="Orion">vaccination</keyword> to all above 18 years by September 30. Vijayan said till now, 78.03 per cent of the population above 18 years received the first dose of vaccination, while 30.16 per cent received both doses. The Chief Minister, while addressing the press after a COVID-19 evaluation meeting, said only two per cent of the active cases during September 3-9 in the state required oxygen beds and only one per cent got admitted to ICUs. Vijayan said 93 per cent of people above 45 years received the first dose of vaccine while 50 per cent received the second dose too. "During the period between September 3 to 9, there was an average of 2,42,278 active cases in the state of which only two per cent required oxygen beds and one one per cent got admitted in the ICUs," he said. Vijayan told the media that antigen tests will be conducted only for the purpose of medical treatment in the districts where 80 per cent of the population have been vaccinated with the first dose. "In such districts, RTPCR tests will be used to detect the infection," he said. After analysing the COVID-19 situation, the state government has decided to impose stringent lockdown restrictions in areas where the weekly infection population ratio was above eight per cent. Until today the restrictions were in wards of local self government bodies with WIPR above seven per cent. Kerala today logged 25,010 new COVID-19 cases and 177 deaths, taking the caseload to 43,34,704 and the death toll to 22,303. Health minister Veena George said 1,51,317 samples were tested in the last 24 hours and the test positivity rate was 16.53 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-investment-firm-leads-10-million-round-in-lido-learning/articleshow/86093922.cms">Ronnie Screwvala’s investment firm leads $10 million round in Lido Learning</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-merchandise-exports-likely-to-surge-by-33-in-fy22-says-import-bank-of-india/articleshow/86094289.cms">India's merchandise exports likely to surge by 33% in FY22, says Import Bank of India</a>

Kerala to complete vaccination of all above 18 years by September 30: CM

The last 18 months have been a testament to businesses’ increasing reliance on <keyword id="12007672" type="General" weightage="20" keywordseo="technology-and-automation" source="Orion">technology and automation</keyword>, to not only survive but also to thrive. In the initial rush to digitise processes, and to enable people to work remotely, and getting more done with fewer hands, the cultural characteristics of an <keyword id="48809" type="General" weightage="20" keywordseo="organisation" source="Orion">organisation</keyword> were a natural casualty. While algorithms were speeding things up, lack of physical proximity, challenges of <keyword id="1591611" type="General" weightage="20" keywordseo="remote-work" source="Orion">remote work</keyword>, including the lack of familiarity with new teammates, were slowing things down. If the likely future of work is going to be more remote or hybrid (less frequent visits to office wherever possible), the ways to hold up an organisation’s culture, and ensuring that every member of the team sticks to the values that define the company, are yet to be fortified. Businesses have tried to replicate the office atmosphere in the form of Zoom gatherings, happy hours, and virtual onboarding sessions. The experience of these may be different from one firm to another. You can hear some of these stories at Business Insider’s Future of Work Summit 2021 on September 15 and 16. It takes years to evolve a company culture that values the well-being of the people, and fosters a feeling of belongingness in them. And it requires constant monitoring to protect it. In light of this, we foresee businesses taking stock of employees’ needs via open communication. To ensure that productivity levels don’t wane over time and the employees keep feeling motivated, organizations need to continuously invest in their employees’ futures and provide them with opportunities and tools that would help them transition to another job or industry with ease or grow in the current one. This intangible culture of an organisation is crucial to create a sense of belongingness among employees. Top executives from some of the biggest companies in India and the world, founders like Sanjeev Bikhchandani Info Edge and Ronnie Screwvala from UpGrad, as well as renowned researchers and academics from the field will be there at the Future of Work Summit exchanging lessons and ideas for a new era of organisation building that is upon us now. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/common-financial-mistakes-to-avoid/articleshow/85856175.cms">Common financial mistakes to avoid in your 30s</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-bengaluru-startup-is-looking-to-set-up-1-million-ev-chargers-in-next-three-years-raises-4-million/articleshow/85857340.cms">This Bengaluru startup is looking to set up 1 million EV chargers in next three years, raises $4 million</a>

Technology is changing organisations and culture has to keep pace with it

<ul><li><keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> has partnered with autonomous mobility startup <keyword id="9940674" type="UNKNOWN" weightage="20" keywordseo="ottonomy">Ottonomy</keyword> IO to deliver ‘sanitized’ packages. </li><li><keyword id="8378556" type="UNKNOWN" weightage="20" keywordseo="Robot-Delivery">Robot delivery</keyword>, while has been much talked about, is just starting to take off globally. </li><li>E-commerce giant Amazon is also betting on robot deliveries globally. </li></ul>India’s third-largest e-commerce player Snapdeal has said that it has successfully tested <keyword id="16719" type="ENTERTAINMENT" weightage="20" keywordseo="robots">robots</keyword> for e-commerce deliveries. Snapdeal has partnered with autonomous mobility startup Ottonomy IO to deliver ‘sanitized’ packages. During the test run for the robot delivery in Delhi NCR, the robots were placed at the gates of residential societies where a delivery agent came and placed the parcel in a compartment inside the robot. The robot then uses the societies’ map to deliver the goods at the customer’s doorstep. According to the company, these robots are also equipped with ultraviolet lighting to ‘disinfect the packet while navigating to the delivery location’. Snapdeal also said that it is investing heavily in artificial intelligence and machine learning to develop future-oriented capabilities. “We believe that delivery robots will have a unique role to play in e-commerce deliveries in large townships, institutional campuses, and other managed residential environments. <keyword id="8919748" type="UNKNOWN" weightage="20" keywordseo="contactless-delivery">Contactless delivery</keyword> via robotic vehicles is a step in building a safer and convenient future for shoppers”, said Snapdeal spokesperson. The development from Snapdeal comes at a time when the likes of Zomato, Swiggy, Dunzo are experimenting with drone deliveries. In June, the Directorate General of Civil Aviation (DGCA) gave the official nod to delivery companies like Zomato, Swiggy, Dunzo to begin testing beyond visual line of sight (BVLOS) drones for deliveries. While ‘robot delivery’ has been an exciting and much talked about venture for a long time now, it has recently taken off globally as well. Global e-commerce giant Amazon also created a new team that will work on autonomous deliveries called <a href="https://www.usatoday.com/story/tech/2020/07/22/amazon-taking-its-scout-delivery-robots-south/5485106002/">Amazon Scout</a>. These robots, like the one by Ottonomy IO, will be able to roll along sidewalks and deliver parcels. While the COVID-19 pandemic has accelerated the need for contactless deliveries, it is worthy to note that for robot-led deliveries in India to work, it requires a massive overhaul in infrastructure and policy. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvala-explains-why-covid-edtech-boom-is-unlike-demonetisation-boost-for-digital-payments/articleshow/78119790.cms">Ronnie Screwvala explains why COVID edtech boom is unlike demonetisation boost for digital payments</a> <a href="https://www.businessinsider.in/business/startups/news/sachin-tendulkar-is-now-paytm-first-games-brand-ambassador-app-aims-to-garner-100-million-users-during-ipl/articleshow/78118256.cms">Sachin Tendulkar is now Paytm First Games’ brand ambassador – with a ₹300 crore marketing spend, the app aims to garner 100 million users during IPL</a>

You Searched For "ronnie screwvala investments" and got 10 results

Ronnie Screwvala's UpGrad is India's newest entry into the unicorn club as it closes a $185 million funding round

IANS

Ronnie Screwvala syncs with Finance Minister’s plan⁠— upGrad will roll out online degree courses this year

Prerna Sindwani

SIMPLY PUT: This billion dollar business model was a Netflix joke in 2020

Lenskart Raises Rs 135 Crore As Fresh Capital

Purba Das

India's exports expected to grow by 33% during the second quarter

IANS

Sensex drops over 300 points in early trade; Nifty tests 17,100 — IndusInd Bank, Maruti, Bajaj Finance, Bajaj Finserv, Infosys and NTPC top losers

PTI

Amazon, Flipkart and Myntra sales – all unaffected by low consumer sentiment

Kritti Bhalla

Kerala to complete vaccination of all above 18 years by September 30: CM

PTI

Technology is changing organisations and culture has to keep pace with it

BI India Bureau

Snapdeal says it has just tested deliveries using robots and it was successful

Sanchita Dash

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