DesignX a Shopfloor hyper automation company raised USD 300K in seed round from modulor capital and angels from the manufacturing sector - The Daily Guardian
Connect with us

Business

DesignX a Shopfloor hyper automation company raised USD 300K in seed round from modulor capital and angels from the manufacturing sector

Published

on

New Delhi [India], February 19 (ANI/NewsVoir): DesignX today announced it had raised USD 300K from Modulor Capital via its investment vehicle ThinkNext LLC and Angels from the manufacturing sector.
DesignX specializes in shopfloor hyper-automation with its powerful industry-agnostic product suit DFOSTM (Digital Factory Operating System). DFOSTM is a SaaS-based product to discover, analyze, design, automate, measure shopfloor processes. It enables manufacturing companies with real-time intelligence about the shopfloor and unlocking enhancement opportunities.
According to Gartner Hyper-automation is a combination of tools, including Robotic Process Automation (RPA), intelligent Business Management Software (iBPMS), and AI, with a goal of increasingly AI-driven decision making. Also, “Hyper automation often results in the creation of a digital twin of the organization”.
Further Shreedhar Gupta Director of the Abhishek Group (part of the Indian Automotive Sector) and an investor in various start-ups has given his vote of confidence to DesignX vision by investing and joining as a board observer. The company is all set to reach new heights under his guidance.
Also, this round saw the participation of a syndicate of industrial intellect lead by Ravin Sanghvi. As with DesignX, they could see the missing piece of shopfloor digital transformation.
“The goal of DFOSTM is to provide a digital infrastructure helping manufacturing industry for a systematic digital transformation, as companies can’t keep on bootstrapping for every new digital need,” said Rajat Srivastav CEO and CPO DesignX.
“Already having a platform which provides a 360-degree connectivity of the shopfloor processes, we would be spending a good portion of the funding for adding the most advanced techniques for adding more and more value to our customer operations,” said Nishant Srivastav, CTO of DesignX.
“I am excited to be guiding this young, energetic, and talented team of DesignX scale up and become successful. I truly believe in the value of this product and firmly believe that it will immensely benefit any manufacturing company that uses it,” said Shreedhar Gupta, Director Abhishek Group and Board Observer of DesignX.
“As an early leader in IIoT, DesignX has built strong capabilities in IT-OT integration with its manufacturing customers thanks to deep domain knowledge and software expertise,” said Bhavish Sood General Partner at Modulor Capital and board member.
Ankur Gupta, head of investor relations at logistics firm Ecom Express Pvt. Ltd. also participated in the funding round.
Venture Garage, an advisory firm for early-stage start-ups, served as financial advisor to DesignX for the transaction. “DesignX has a strong clientele of global manufacturing companies. With Modulor Capital and Shreedhar coming on board the product offering and the traction will get a boost,” said Vineet Sagar, Co-founder and Managing Partner at Venture Garage.
Everis Consulting served as financial advisors and Sequitur as legal advisors to Modulor Capital.
He has been involved in the Indian Automotive Sector for over two decades running and successfully scaling up various joint ventures in the Tier 1 industry, manufacturing components for most leading OEMs. In the recent past, Shreedhar has further diversified into freight forwarding and logistics, end of life vehicle recycling and has additionally been involved with various start-ups in a personal capacity. His recent initial stage investments include Burger Singh, BluSmart Cabs, Cross Border Kitchens, and most recently DesignX. His experience lies in scaling up businesses while mentoring the management team.
DesignX helps manufacturing companies with process discovery, modeling, monitoring, and automation through RPA and IIOT to improve MSQCD (M-morale, S- safety, Q- Quality, C- cost and D- delivery) on the shop floor.
For more information, please visit designx.in.
Modulor Capital is a technology and health-tech focussed micro VC fund. They invest in startups that have achieved product-market fit and are in the early stages of building out their businesses. As active co-investors, their strength lies in leveraging their proprietary Quagrow TM playbook to help build commercial scale for early-stage startups. Modulor has offices in Seattle, New Delhi, and Chandigarh.
Documentation Pdf – DesignX DFOS Introduction.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

The Daily Guardian is now on Telegram. Click here to join our channel (@thedailyguardian) and stay updated with the latest headlines.

For the latest news Download The Daily Guardian App.

Business

Entrepreneur and Film Maker Vibhu Maurya joins hands with ACA Films

Published

on

By

New Delhi [India], March 9 (ANI/SRV Media): ACA Films, owned By Alex Alonso, is teaming up with Bollywood filmmaker, a global entrepreneur, and a sociopreneur, Vibhu Maurya. He is the founder of ANT Entertainment Ltd. and has produced famous Bollywood films like “BhaagteRaho” and “Don’t worry be happy”. His upcoming project is a Bollywood film with Akshay Kumar.
Maurya has been embarking on great success as a filmmaker although as a young mind, he was always inclined towards real estate and made his career as a builder. After which he started building a great level of interest in mining, the digital world, the stock market and some other lucrative businesses where he bagged tremendous triumph.
He is the founder &director of companies named Sadbhav Minerals Pvt Ltd, Maurya dev builds Pvt Ltd, Oracle Realinfra Pvt Ltd and Sadbhav Group Ltd in (UK) London. Maurya shares an immense love for film making and remains connected to Bollywood thoroughly. He declined an offer to be a part of big boss 14 considering his priorities in film making and other collaborations in this area.
Vibhu Maurya’s ANT Entertainment along with Brazilian film company ACA Films aims to produce new and challenging projects. Alex Alonso and VibhuMaurya are working majorly on two projects” The Last one” and “The Last Men on Earth” which may release on Netflix Premier soon. Alex is also a veteran in the film production industry and has appeared in numerous tv shows from Syfy Channel and Universal TV.
He was the solo lead on a campaign for the Brazilian sport’s secretary and has won multiple film awards, marking a huge presence in more than 160 film festivals as an actor, producer, director, and VFX artist. Now he has taken upon the role to compose the board of executive producers and party films. This collaboration will surely bring new dimensions to filmmaking.
Alex Alonso’s ACAisheavily involved in the American Hollywood industry with Ron Williams a writer, producer, and director in the entertainment field, and the CEO of Production at Ron Williams Studios. His dream surely seems to have reached global levels. He has written, produced, and directed various low-budget feature films, documentaries, and over 100 short films. “Team Williams” actors have appeared in hundreds of Major television programs and over 200+ Feature and Major Hollywood films.

In Fall 2021, Ron Williams Studios will open private Sound Stages in Los Angeles, Atlanta, Canada, and near Otay Mesa. Ron Williams has also helped serious actors and musicians get connected to major agents, film studios, and record labels in the industry. Brandnew names like Desmond Murray Jr. and Brian Holman bring a great deal of art and much love to the craft. The experience through association with ACA Films will therefore strengthen Vibhu Maurya’s projects significantly.
The plan of global domination started in 2014 and has been a reality since then Alex joined the cast and technical crew of “Cadillac Respect”, a film with Eric Robert and John Schneider directed by Christopher Michael Dailey. As per the critics, we can predict much in advance that this partnership will definitely create a new benchmark in Hollywood as well as the Bollywood Industry.
This story is provided by SRV Media. ANI will not be responsible in any way for the content of this article. (ANI/SRV Media)

Continue Reading

Business

Students of JAGSOM and IFIM Institutions Contribute 18 Lacs to ‘Empower Women and Save the Girl Child’

Published

on

By

Bangalore (Karnataka) [India], March 9 (ANI/NewsVoir): The students of Jagdish Sheth School of Management (JAGSOM, formerly known as IFIM Business School), IFIM College and IFIM Law School donated 18 lacs to provide nourishment and support to women whose livelihoods were put to risk by the pandemic, to the institute “Kanyathon Shiksha Kendra” in one of the adopted villages near Kolar and to continue supporting the “Save a Girl Child” initiative with CRY.
This year the students of JAGSOM and IFIM Institutions have decided to invest Rs 5 lacs from the corpus to institute a “Kanyathon Shiksha Kendra (KSS)” along with CRY in one of the villages near Kolar. The KSS will be a digitally enabled classroom and a computer cum language lab to educate girl children in Spoken and Written English, Effective Use of Information Technology and to deliver lessons in hygiene, cleanliness and etiquettes.
The Curriculum for this is being developed by the students and the faculty of JAGSOM and IFIM Institutions. The vision of the students is to expand the number of KSS across the length and breadth of the country to empower the women of this nation. Through education these Kanyathon Shiksha Kendra’s are expected to contribute significantly to the Swachh Bharat, Beti Bachao and Beti Padao and Digital India initiatives.
“Kanyathon, over the last decade has evolved into an exemplary pedagogy for experiential learning. The students are immersed into the full life cycle of creating awareness, raising funds, delivering a fun filled experience whilst managing an event of significant scale and finally delivering on their promise of contributing to five sustainable development goals (SDG) of the UN. This is surely making the students of JAGSOM and IFIM Institutions socially responsible. This year, we aim to deploy the donation for the ongoing project and for Kanyathon Shiksha Kendra,” said Sanjay Padode, Chairman, Center for Development and Education, speaking about the cause.
Previous edition of Kanyathon has participation of more than 10,000 supporters demonstrating their penchant towards the cause of women empowerment. The student led inititiative has managed to garner 46 lacs and develop a net corpus of 21 lacs for promoting “Save a Girl Child” cause. Additionally they also managed to run and operate a fun filled environment of this scale without any untoward incident.
The outbreak of the pandemic led to a loss of livelihood, disproportionately affecting migrant workers, daily wage-earners, the urban poor and other vulnerable groups particularly women and girl children in Kolar where the institution has adopted five villages under the government’s Unnat Bharat Abhiyan Scheme. The students behind Kanyathon deemed it fit to deploy Rs. 9 lacs from their corpus to provide nourishment, and livelihood support to women and children who were directly impacted by the pandemic.
The funds collected through Kanyathon in the past were deployed through its NGO partner, CRY, for immunization over 2543 children in the areas from Kolar, Malur and KGF. Additionally, 22 Anganwadi centers have been receiving timely ration supply and 862 children receiving midday meal take home ration. Through advocacy with the labour department, 200 families received financial aid of Rs 5000/- for 40 pregnant and lactating mothers were given regular awareness and counselling on wellbeing and following nutritional diet. Furthermore, over 1000 families were given awareness on health and nutrition.
IFIM and JAGSOM have been consistently supporting the United Nations Sustainable Development Goals with its host of year-round social initiatives. The students, faculty, staff, and management are deeply invested in impacting society, right from raising funds for the underprivileged and the needy through Kanyathon, to deploying and ensuring the funds reach the needy.
While the Experiential Program for Social Impact helped the students in becoming aware of the social sensitivity and social responsibilities, it also enhanced their managerial skills. IFIM and JGASOM encourages students to participate in such initiatives as a part of their curriculum. This helps them to deal with real world problems and find reasonable solutions for the same. In the coming year Kanyathon aims to reinforce its cause to get a better understanding of an important cause of educating girl children that will be felt far and wide.
Jagdish Sheth School of Management (formerly IFIM Business School) is amongst the first 6 Business Schools in India to have been awarded the AACSB accreditation. Recently, IFIM Business School, now, Jagdish Sheth School of Management (JAGSOM), has been ranked by QS Masters in Marketing Ranking 2021 amongst the Top 100 such programs (in 51-100 band) in the World for its PGDM (Marketing) program. It has also been ranked in the 101-150 Band Globally in the QS Masters in Finance Rankings for its PGDM (Finance) Program.
Various programs at JAGSOM include (1) PGDM/MBA: 2 Year residential Post Graduate Diploma in Management /MBA with international super-specializations in Martech, Fintech, Big Data Analytics, Digital Transformation & HR (2) SpecX – offering experiential specializations for new age roles: PGDM (Marketing), PGDM (Finance) and PGDM (Business Analytics) (3) PGDM IB: Dual Degree Pathway Program in association with State University of New York (Albany) and Sydney Business School (UOW) (4) PGDM LFH: A unique learn from home program which brings in the experience of learning from a campus while at home and (5) BBA at Vijaybhoomi University, Greater Mumbai, having pathway options with ESCP Europe, ESC Rennes and UOW Australia.
Actively engaged in research and consulting, JAGSOM hosts several Centers of Excellence such as AIM-Parasuraman Centre of Service Excellence. JAGSOM has an elite set of international academic partners including leading institutes such as ESCP-London, Darden School of Business (University of Virginia) and McCombs Business School (University of Texas at Austin).
JAGSOM has four distinct anchors that support its overall educational philosophy:
* Grooming T shaped professionals with a unique curriculum aligned to the needs of industry 4.0
* A mix of scholars with PhD and experienced practice-oriented best-in-class faculty
* Global connects through partnerships with world-renowned business schools offering super-specializations in new-age areas.
* Industry connect programs to groom “Beyond Tomorrow” professionals.
For more information, please visit www.jagsom.com
Established in 1995, the IFIM Business School, Bangalore is currently amongst the first six Business Schools in India to have been awarded the AACSB accreditation. IFIM is also accredited by National Board of Accreditation (NBA), and South Asian Quality Assurance System (SAQS), and is ISO 9001:2008 certified. Various programmes at IFIM include (1) Two-year full-time residential Post Graduate Diploma in Management with options to do Major in Marketing, Finance, Digital Business, Analytics, HRM and International Business (2) PGDM (Data Science), (3) PGDM for Working Professionals.
Actively engaged in research and consulting, IFIM hosts several Centres of Excellence such as AIM-Parasuraman Centre of Service Excellence and Centre for Consulting in Digital Leadership. IFIM has an elite set of international academic partners including leading institutes such as ESCP-London, Darden Business School (University of Virginia) and McCombs Business School (University of Texas at Austin). IFIM Business School’s mission is to groom holistic, socially responsible, continuously employable professionals; It positions itself for “Beyond Tomorrow” by:
1. Grooming ‘T’ shaped professionals aligned to the needs of industry 4.0, through its unique Be-Spoke Curriculum
2. Best-in-class faculty; A blend of PhD trained and experienced practice-oriented professionals
3. Global connect through partnerships with top global business schools offering courses in new-age areas Award winning Practice Driven Initiatives: Research Incubation, Social Immersion, Personality Enhancement Program, Long duration Industry Internship and Corporate Mentoring visit ww.ifimbschool.com.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

Continue Reading

Business

Indian DeepTech founder invents world’s First Super AI Console for intellectual sustainability

Published

on

By

New Delhi [India], March 9 (ANI/India PR Distribution): Asian DeepTech Startup ENHEROES founded by Indian Geoscientist ShubhabrataSamantaray has successfully developed a novel Smart and Autonomous Responsible Super AI system prototype which it claims to be the world’s First Super AI Console for Intellectual Sustainability.
The Work from Home utility kit is designed to address intellectual sustainability challenges of corporations & communities across the Digital Energy DeepTech Ecosystem. Shubhabrata is an alumnus of the prestigious Indian Institute of Technology, Dhanbad. A virtual pre-launch event for early backers of this DeepTech utility invention is planned for the end of March 2021.
The invention aims to empower the DeepTech Ecosystem resurging from Covid19 socio-economic distress & champion Global Goals 2030. As the whole world is adversely impacted by the Covid-19 pandemic the utility invention can be a key tool for boosting intellectual productivity as claimed by ENHEROES. The invention is meant to become a core feature of large scale ESG compliant impact venture projects incubated by ENHEROES.
The AI invention is designed to become the Operating System of a Super Smart Console that will control a network of Sustainable Thinking Machines leveraging on a herd of goal-oriented DRL-ENNs after getting trained in a specially built machine learning facility.
ENHEROES is deploying this invention to develop a global Shared Digital DeepTech Incubator facility focusing on the Digital Energy Sector which would be a first kind impact oriented project in the industry.
The invention has been filed for a utility patent in 2020 after passing the criteria of novelty, Inventiveness and commercial impact and claims to be the first of its kind responsible AI invention being promoted by an Asian Impact startup to address Intellectual Sustainability Challenges around Digital energy DeepTech Ecosystem.
The invention is intended to be commercialized on a global scale and utility patents are to be filled via PCT route in April 2021 targeting regional territories like the US, UK, Canada and ASEAN countries like Singapore, Japan who have sound Intellectual Property protection legal framework and strong industry support for using Technology for solving sustainability challenges.
ENHEROES finds its invention as an opportunity to capitalize on the global DeepTech revolution to create a positive impact with attractive returns for investors using this patent pending novel operating system powered by technologies such as AI-Blockchain-XR.
As per Boston Consulting Group, DeepTech Companies Attract More Private Investment Funding Than Other incremental innovation-based technology companies while addressing Sustainable Development Goals. DeepTech Startups receive median funding between 2.5 to 15 million USD as per one of its industry reports.
ENHEROES has created a blueprint for developing a seedbed of million new jobs around the Digital Energy sector upon commercialization of this impact oriented Invention to be executed by a group of benefit asset corporations operating within globally connected superclusters. It’s setting up a Rapid Commercialization Vehicle to ensure a faster go to market transition.
“ENHEROES is committed to “Building a Better World Together” using Technology as a Force for Good”.-Says Shubhabrata, the lead inventor of the Super AI Prototype while addressing potential investors and stakeholders of its DeepTech projects.
Early backers interested in participating in initial offers & deals linked with the commercialization of this Impact Technology Invention can show interest at the homepage of ENHEROES in a registration page created for this purpose.
ENHEROES team is organizing a virtual Press conference in March 2021 to unveil the potential application of the Responsible AI invention and inviting tech reporters from the industry to get first-hand details about the invention utility applications.
Tech Reporters who feel the story is worth covering in a Technology Review & wish to attend the Press conference can reach to enheroes official website to get more details about the news. ENHEROES team will send the Press Release Kit & slide deck for their further perusal.
Shubhabrata is going to host a series of webinars & workshops titled “How I Built World’s First Super Console for Intellectual Sustainability” exclusively for impact technology enthusiasts & Sustainability activists in an upcoming Technology Conference available freely on his debut Digital Summit Platform.
He shall be sharing some hacks of indigenous research, Innovation & potential business opportunities linked with the invention around the Digital Energy DeepTech Ecosystem. The background story behind this indigenous DeepTech invention and registration link can be found For any business or media inquiry kindly reach founder@enheroes.co or fill up the contact form at https://enheroes.co
ENHEROES GLOBAL ENERGY a Malaysian subsidiary of ENHREOES Group established in 2018 engaged in transforming Digital Energy Sector across ASEAN Zone. It has been featured by Indian Startup Magazine Yourstory in its Impact Startup section.
This story is provided by India PR Distribution. ANI will not be responsible in any way for the content of this article. (ANI/India PR Distribution)

Continue Reading

Business

Laxmi Organic’s IPO to open on Mar 15

Published

on

By

Mumbai (Maharashtra) [India], March 9 (ANI): Laxmi Organic Industries, a leading manufacturer of acetyl intermediates and specialty intermediates, will open the bid period in relation to its initial public offering of equity shares on March 15 and close on March 17.
The price band for offer is Rs 129 to 130 per share. The company may consider participation by anchor investors, which will be one working day before the bid opening date.
The offer aggregating up to Rs 600 crore comprises of fresh issuance of equity shares of up to Rs 300 crore and an offer for sale up to Rs 300 crore by promoter selling shareholder Yellow Stone Trust.
The company proposes to utilise net proceeds towards prepayment or repayment of all or a portion of certain outstanding borrowings, funding capital expenditure requirements for setting up of a manufacturing facility for fluorospecialty chemicals pursuant to investment in the wholly-owned subsidiary Yellowstone Fine Chemicals.
The IPO will be listed on BSE Ltd and National Stock Exchange (NSE). Axis Capital and DAM Capital Advisors are book running lead managers to the issue.
Laxmi Organics has a diverse product portfolio into varied chemistries in specialty intermediates and has a share of 30 per cent in ethyl acetate market and 55 per cent in diktene derivatives market. (ANI)

Continue Reading

Business

EV financing industry to be worth Rs 3.7 lakh crore by 2030: Report

Published

on

By

New Delhi [India], March 9 (ANI): India’s transition to electric vehicles (EVs) will require a cumulative capital investment of 266 billion dollars (about Rs 19.7 lakh crore) in EVs, charging infrastructure and batteries over the next decade, according to a report released by NITI Aayog and Rocky Mountain Institute (RMI) on Tuesday.
The report also identifies a market size of 50 billion dollars (Rs 3.7 lakh crore) for the financing of EVs in 2030 — about 80 per cent of the current size of India’s retail vehicle finance industry worth 60 billion dollars (Rs 4.5 lakh crore).

“The need of the hour is to mobilise capital and finance towards EV assets and infrastructure,” said Amitabh Kant, CEO of NITI Aayog.
“As we work towards accelerating the domestic adoption of EVs and push for globally competitive manufacturing of EVs and components like advance cell chemistry batteries, we need banks and other financiers to lower the cost and increase the flow of capital for electric vehicles.”
India’s EV ecosystem has thus far focused on overcoming adoption hurdles associated with technology cost, infrastructure availability, and consumer behaviour. Financing is the next critical barrier that needs to be addressed to accelerate India’s electric mobility transition.
End-users currently face several challenges like such as high interest rates, high insurance rates and low loan-to-value ratios.
To address these challenges, NITI Aayog and RMI have identified a toolkit of 10 solutions that financial institutions such as banks and non-banking financial companies (NBFCs) as well as the industry and government can adopt in catalysing the required capital.
“Re-engineering vehicle finance and mobilising public and private capital will be critical to accelerating the deployment of the 50 million EVs that could be plying on India’s roads by 2030,” said Clay Stranger, Senior Principal at Rocky Mountain Institute.
“These solutions represent high-leverage areas for interventions in finance, and we believe that many are relevant beyond India,” he said.
The 10 solutions recommended in the report include financial instruments like priority-sector lending and interest-rate subvention. Others are related to creating better partnerships between OEMs and financial institutions by providing product guarantees and warranties.
Besides, a developed and formal secondary market can improve the resale value of EVs and improve their bankability. “The identified barriers within EV finance need to be tackled in structured manner with innovative financing models,” said Randheer Singh, Senior Specialist at NITI Aayog.
Recommendations beyond finance include digital lending, business model innovation, fleet and aggregator electrification targets, and the creation of an open data repository for EVs.
The report further determines that investment in India’s transition to electric mobility has the potential to create significant economic, social and environmental benefits for the country.
As the economics of EVs continue to improve, new business models and financing instruments gain acceptance, and government programmes drive early adoption and promote domestic manufacturing, India’s EV market is poised for growth in the coming decade, said the report. (ANI)

Continue Reading

Business

Impetus celebrated and acknowledged the spirit of womanhood

Published

on

By

New Delhi [India], March 9 (ANI/PRNewswire): Impetus Technologies (India) Pvt. Ltd., a software, products and services company focusing on creating powerful and intelligent enterprises, recently honoured women at the Impetus Group for their commitment and hard work.
The company organized a three-day celebration through interactive and informative sessions on investments, health and wellness, and engaging events.
This year, the theme being ‘#ChooseToChallenge,’ Impetus celebrated the spirit of womanhood and its attributes of conquering, empowering, and inspiring the world. Activities for men and women were planned to re-iterate the belief of inclusion for the company.
The organization has been recognized among the 2020 Working Mother & Avtar Best Companies for Women in India. The Impetus Group stands for its remarkable work-life balance and culture of inclusion, diversity, and collaboration.
With facilities such as a dedicated creche, flexible workhours, gender diversity, equal pay parity, exclusive programs and training for women, the group has been a preferred choice for women to work and excel.
On this initiative, Sanjeev Agrawal, VP Operations & Human Empowerment, said, “I thank and acknowledge all the wonderful women at the Impetus Group. Their commitment, dedication, and hard work have enabled us to be a top IT company. On behalf of all the men, I salute your spirit and invaluable presence, with which you inspire us each day.”
The company also bagged ‘Dream Employer of the Year’ by World HRD Congress’ for the 6th consecutive year and ranked in the top 20 in 2020. They have also been recognized among ‘Top 25 IT & IT-BPM India’s Best Workplaces, 2019’ and ‘Asia’s Dream Companies to Work For 2019’ for the 3rd consecutive year.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

Continue Reading

Trending