Category Archives: Business & Economy

Chennai-based start-up raises $5.5 million

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The loan was deployed through IndusInd Bank’s Impact Investing Group, guaranteed by the U.S. International Development Finance Corporation.

Chennai-based agritech start-up WayCool Foods raised $5.5 million through debt financing from IndusInd Bank Ltd, guaranteed by the U.S. International Development Finance Corporation (DFC).

This funding follows the Series C round of $32 million led by Lightbox earlier this year. Setuka Partners LLP was the advisor to the current transaction. WayCool Foods intends to use the funds raised to introduce advanced technology, implement strict hygiene measures and increase transportation efficiency to reduce food spoilage and improve farmer yields. This will also allow the company to strengthen food distribution across South India.

Karthik Jayaraman, Co-Founder and CEO, WayCool Foods, said, “WayCool has been steadily building necessary technology and operational capabilities to operate robust agrifood supply chains from soil to sale.”

DFC, America’s development bank, provides financing to address critical challenges across emerging markets on a global scale. It invests across sectors including energy, healthcare, critical infrastructure, and technology. DFC provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets.

The loan was deployed through IndusInd Bank’s Impact Investing Group. The DFC guarantee enabled the bank to provide an equivalent of ₹35 Crores loan to WayCool, the bank’s statement said. The structure is significant as it helps in mobilizing local capital for WayCool, also it eliminates foreign exchange rate fluctuation risk from the balance sheet of WayCool, it added.

Founded in July 2015 by Karthik Jayaraman and Sanjay Dasari, WayCool procures, processes, and distributes a range of food products, including fresh produce, staples and dairy products, moving over 250 tonnes of food every day, to 8,000 enterprise clients across South India. The company operates a soil-to-sale model engaging with a base of 40,000 farmers in more than 50 regions across India.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Sangeetha Kandavel / Chennai – June 11th, 2020

Chennai-based firm disinfects public places for free

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Green Globe Probiotics and Renewables Pvt Ltd. is offering its services to old age homes, orphanages and other non-profit organisations

The firm uses CSR funds to disinfect not-for-profit organisations | Photo Credit: Special Arrangemen
The firm uses CSR funds to disinfect not-for-profit organisations | Photo Credit: Special Arrangemen

If you want to disinfect a public place, old age home, orphanage or blind school and do not have funds, help is just a call away.

Over the last 30 days, city-based Green Globe Probiotics and Renewables Pvt Ltd, has disinfected more than 60 buildings in Chennai and will be offering its services pan-India next week.

“We have rendered our services to non-profit organisations and frontline warrior departments such as fire and rescue service buildings, police stations and government buildings in Chennai. Disinfecting temples will start soon. In all, we have covered 60 crore square foot of space, of which 35% has been done using CSR funds,” said Senthil Kumar, group managing director, Green Globe Probiotics.

“It is like a CSR activity. Non-profit organisations, old age homes, blind schools and orphanages are serviced through CSR funds or community/crowd sourced funds. NGOs and educational non-profit institutions are disinfected at lower rates,” he added.

Green Globe Probiotics is one of the subsidiaries of GSR Travels and Retail Ventures Pvt Ltd. that deals in retail, aviation, housekeeping and hospitality, education services, staffing and HR consultancy sservices.

The parent firm has a tie-up with Australia-based Callington, which manufactures disinfectant products to combat the COVID-19 pandemic. Callington India, through Green Globe Probiotics, is marketing and distributing disinfectant products in India.

The company uses a hand-held device and disinfects around 25,000 sq.ft., of space within 10 minutes. It charges 80 paise to ₹2.50 per sq.ft.

“In the next few days, we will be rolling our services pan-India to disinfect 70 cities and towns,” he said.

To avail of the services, one can write to contact@ggprobio.com.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by N Anand / Chennai – June 09th, 2020

GI tag for Thanjavur Netti Works, Arumbavur Wood Carvings

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Applications for both the products were filed by Poompuhar

The Thanjavur Netti Works and Arumbavur wood carvings have been given Geographical Indication (GI) tag by the Geographical Indications Registry here in Chennai.

The application for Thanjavur Netti works was filed by Tamil Nadu Handicrafts Development Corporation (Poompuhar) and in the case of Arumbavur wood carvings it was filed by Poompuhar in association with the Arumbavur Wood Carvers’ Handicrafts Industrial Cooperative Society Limited and the Arumbavur Temple Car and Woodcarving Artisans Welfare Society. “Both the applications got registered and GI tag has been granted,” said Chinnaraja G.Naidu, Deputy Registrar of Geographical Indications.

A GI tag is a sign used on products that have a specific geographical origin and possess qualities or a reputation by virtue of their geographical association. The tag conveys an assurance of quality and distinctiveness, which is essentially attributable to the geographical origin of the product. The owner of the GI tag has exclusive rights over the product

IPR Attorney and GI Advocate Sanjai Gandhi, who was instrumental in getting the GI tag for the products, said, “Thanjavur Netti Works (Thanjavur Pith Work) is made from pith. The pith is obtained from netti, a hydrophyte plant called as Aeschynomene aspera. The artisans are skilled in this particular craft and this art is traditionally transferred from their forefathers.”

The lakes around Pudukottai (Pudukullam & Kallaperumbur lake) are surrounded with marshy land which favours the growth of the hydrophytic plant. The soil found in Thanjavur is favourable for the growth of the plant that is used for the production of pith handicraft based in Thanjavur. The notable works from Thanjavur Netti Works include models of the Brihadeeshwara Temple, Hindu idols, garlands, door hangings and show pieces used for decoration. The pith stems are found in and around the Thanjavur region and Mannargudi.

Arumbavur Wood Carving is done at Arumbavur and around the Veppanthattai taluk of Perambalur district. The wood carvings are primarily made out of wooden logs of Indian siris (Poo Vaagai, Albizia lebbeck), mango (Mangifera indica), lingam tree (Mavilangam), Indian ash tree (Othiyan – Odina wodier), rosewood, neem tree (Vembu – Azadirachta indica). The carvings in Arambavur Wood Carvings are often inspired by architectural details on temple sculptures and carvings. The dimensions of the wood blocks used depend on the wooden sculpture to be carved. The descriptions and designs which inspire the work lie in temple architecture indigenous to the region. Usually, the statues are crafted in the range of 1 to 12 feet.

Sculptures of Lord Vinayaka, Goddess Saraswati, Lord Krishna, Lord Siva and Goddess Parvathi can be seen in Arumbavur Wood Carvings, along with motifs such as hamsa/mythical swans, poomakhumbhal cornucopia, kaamadhenu, other floral motifs; temple chariots and temple cars used during processions of deities, figures of Christ, Dasavatara panels, avatars of Goddess Laksmi and vahanas for temple deities among numerous other designs .

source: http://www.thehindu.com / The Hindu / Home> News> States> Tamil Nadu / by Sangeetha Kandavel / Chennai – May 12th, 2020

IIT-Madras startup creating textile with antimicrobial material to tackle coronavirus

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The coated textiles can be primarily used to manufacture N95 masks, surgical masks, PPE and food packaging bags, among others, with inherent properties of inactivating the virus.

A petrol pump employee wearing personal protective equipment PPE kit at a fuel filling station in New Delhi on Thursday. (Photo | Shekhar Yadav/EPS)
A petrol pump employee wearing personal protective equipment PPE kit at a fuel filling station in New Delhi on Thursday. (Photo | Shekhar Yadav/EPS)

Chennai :

An Indian Institute of Technology (IIT) Madras-incubated startup Muse Wearables is developing novel and scalable methods for coating textiles with nanoparticles-based antimicrobial agents that can inactivate the human coronavirus on contact, the Institute said on Monday.

These coatings are expected to be effective up to 60 wash cycles, thereby making the textiles re-usable.

The coated textiles can be primarily used to manufacture N95 masks, surgical masks, Personal Protective Equipment (PPE) and food packaging bags, among others, with inherent properties of inactivating the virus.

According to the Institute, Muse Wearables’ current pilot machine can coat textiles of length up to 100 metres within a few minutes, thereby making it a viable commercial solution that can be deployed immediately.

Muse Wearables was incubated by IIT Madras Incubation Cell.

“They have quickly mobilised and repurposed their offerings in response to the situation and are striving to make a positive contribution to the nation’s anti-virus efforts,” Dr Tamaswati Ghosh, Chief Executive Officer, IIT Madras Incubation Cell, said in a statement.

Some highlights of these nano-particles coated textiles include, anti-microbial properties — it continuously captures and destroys viruses and other microbes upon contact. Other viruses are as small as 30 nanometres can also be inactivated permanently.

It does not leach while washing in water and is environment-friendly. At present, the particles can be coated on materials like cotton, polyester and cotton – polyester. More fabrics will be tested soon.

It is non-toxic and therefore can be safely used for making masks and other PPEs, the Insititute.

Currently, the startup is assembling the coating machine and will shortly commence coating various textiles with different nanoparticle solutions.

Their coated textiles are expected to be ready for testing by the first week of May 2020. The start-up is also partnering with a mask manufacturing company to launch five-layered Antiviral N95 Masks at an estimated price of Rs 300 per piece.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Chennai / by IANS / May 04th, 2020

Padam Dugar elected as president of CREDAI Chennai Chapter

Business & Economy, Leaders
Padam Dugar. Photo: Special Arrangement
Padam Dugar. Photo: Special Arrangement

Mr. Dugar, who is the vice-chairman and managing director of Dugar Housing Limited, took charge on April 1

The Confederation of Real Estate Developers’ Associations of India (CREDAI) – Chennai has elected Padam Dugar as its president for the next two years starting April 2020.

Mr. Dugar, who is the vice-chairman and managing director of Dugar Housing Limited, took charge on April 1, 2020. “The foremost priorities this year would be to urge the government to incentivise home buyers by reducing the cost to the customers like reduction in stamp duty and registration charges to below 5% and offer special home loan interests to attract investment post the lockdown,” Mr. Dugar said.

Sivagurunathan, managing director, Asvini Foundations has taken charge as president elect. Mehul H. Doshi, MD of Doshi Housing Private Limited and Mohammed Ali, MD of South India Shelters have been elected as vice-presidents.

The Chennai Chapter of CREDAI has also inducted M. Arumugham, MD of Rajkham builders as the new secretary and Abhishek Mehta, MD of Urban Tree Infrastructure Private Limited as the new treasurer.

The new team leaders said that they would work closely with different government departments to give shape to a robust realty industry in Chennai post the lockdown.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Special Correspondent / Chennai – May 01st, 2020

T.N. plans portal for workersabroad intending to return

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An estimated 2.5 lakh workers from State are expected to return, says an expert

The State government is planning to develop a portal for Tamil Nadu natives who are employed abroad and intend to return in the wake of the COVID-19 outbreak.

“The portal should be up in the next few days,” a senior government official said. Once the COVID-19 lockdown was lifted and transportation including air traffic opened, the data from this portal could be used in allowing them to return as well as quarantine them, he said.

Kerala government has already set up a portal allowing its natives working abroad to register. “We are expecting about a lakh workers to return,” he added.

Another official said a lot depended on when and how the Centre would open up air traffic into the country.

“The subject of air traffic was discussed during the recent video conference the Prime Minister had with the Chief Ministers. So, naturally, we need to plan on how to manage the inflow of NRI workers,” he said.

Professor S. Irudaya Rajan of the Centre for Development Studies (CDS) in Thiruvananthapuram, a noted expert researching on migrants, feels an estimated 2.5 lakh Tamil workers could return from abroad. “Over 25 lakh workers from Tamil Nadu are employed in various countries and of them, I expect at least 10% of them to return this year,” he said.

Planning ahead was necessary as to who should be allowed preference since most of them would be in a rush to return. “Priority would be given naturally to pregnant women, children and elderly persons.”

According to Mr. Rajan some 12 lakh workers are employed in the Gulf countries. “Almost all the countries are affected by COVID-19 and because of the repercussions, most of them would want to or be forced to come back home, if they could not continue to work there anymore,” he said and pointed out there may not be any job for them here too at once. Tamil Nadu and Kerala had 25 lakh and 22 lakh of their people working abroad respectively, which constituted almost one-fourth of 200 lakh Indians workers employed abroad, he said.

Based on a survey of a random sample of 25,000 households across Tamil Nadu in 2015, his team of researchers have put the figure as 25 lakh.

Mr. Rajan emphasised that in many households, the family was dependent on the remittances made by their family member employed abroad and once he/she lost his/her job, the family would have to find another source of income. The State government could think about conducting medical checks for them, finding jobs for them, among others.

source: http://www.thehindu.com / The Hindu / Home> News> States> Tamil Nadu / by Dennis S. Jesudasen / Chennai – April 28th, 2020

Villupuram college student creates ‘smart stethoscope’

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The invention had won first prize at a university-level exhibition for bio-based equipment last month.

Srinath displaying the working model of his smart stethoscope
Srinath displaying the working model of his smart stethoscope

Villipuram :

A first year engineering student from Tindivanam has invented an equipment that could help the doctors in treating patients from a distance, avoiding the danger of getting infected themselves.
M Srinath invented the ‘smart stethoscope’ as part of his academic project at Mailam Engineering college.
The invention had won first prize at a university-level exhibition for bio-based equipment last month.

“With the stethoscope that I have made, doctors can check temperature and pulse of a patient from a safe distance.

The equipment is of high quality though it doesn’t cost much, and it can last for long with battery support. The patient can wear this equipment like a watch and through artificial intelligence, the required readings will appear on a device with the doctor even if the patient is 500 metres away,” Srinath told Express.

source:  http://www.newindianexpress.com / The New Indian Express / Home> States> Tamil Nadu / by Bagalavan Perier B / Express News Service / April 29th, 2020

Coronavirus | Ex-panchayat chief from Tiruvallur designs low-cost method to produce disinfectant

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Mr. Elango, a chemical engineer by qualification, has designed the unit in two different capacities, a 25-litre barrel and a 210-litre barrel. | Photo Credit: Special arrangement
Mr. Elango, a chemical engineer by qualification, has designed the unit in two different capacities, a 25-litre barrel and a 210-litre barrel. | Photo Credit: Special arrangement

R. Elango, a former scientist at Council of Scientific and Industrial Research (CSIR), shows how to make sodium hypochlorite using solar power.

R. Elango, a former scientist at Council of Scientific and Industrial Research (CSIR), who later served as the president of Kuthambakkam panchayat in Tiruvallur district, has come up with a design to manufacture sodium hypochlorite using solar power in a decentralised manner.

Considering that sodium hypochlorite is the disinfectant widely used in various concentrations depending on the purpose, he says the design can be used to meet the current surge in demand for the disinfectant in the fight against COVID-19.

“Right from floor cleaners and toilet cleaners to sprays used widely now for disinfecting public places is sodium hypochlorite, which is the mother of all disinfectants. It is commonly manufactured in industries through electrolysis,” he says. Explaining the process, Mr. Elango, who is a chemical engineer by qualification, says sodium hypochlorite is made in industries by the simple process of passing electricity through titanium electrodes immersed in sodium chloride (salt) solution.

High demand for disinfectants

Mr. Elango replaced the conventional source of electricity with a 1 kilowatt capacity solar panel. With the high demand for disinfectants, he highlights that the conservation of non-renewable power would be huge.

“In a barrel fitted with the electrodes, one has to fill salt water solution in high concentration and pass the solar-generated power. In about eight hours, you can get sodium hypochlorite from a tap attached to the barrel.” For now, he has designed the unit in two different capacities of a 25-litre barrel and a 210-litre barrel. 25 litres of sodium hypochlorite can be diluted to 100 litres for disinfecting drainages, to 150 litres for floor cleaning and to 500 litres for applications like cleaning utensils, he claims.

These units can be easily set up in open at the village or town-level to meet the local demand. “It is a completely safe process. The electricity used is of very low voltage. There is absolutely no byproduct or other waste that needs to be handled,” he says.

Steep initial costs

According to him, while the 25-litre capacity unit will cost about ₹ 60,000 to set up, the 210-litre capacity will cost around four to five times more. V.P. Jayakumar, managing director of Tiaano, a chemical company, who helped Mr. Elango in assembling the electrodes in the unit, said excluding the initial cost to set up the unit, one litre of sodium hypochlorite can be produced at a cost of 0.05 paise. “This is inclusive of employing a person for ₹500 per day. The input will just be 750 g of salt in 25 l of water for one cycle.”

“Floor cleaners we buy from supermarkets cost around ₹85 for just 300 ml,” he adds. Mr. Elango says it can also become a business model for villages to generate revenue. Mageswari Ravikumar, Collector, Tiruvallur, who inspected the design, says the district would soon set up a unit on an experimental basis.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Pon Vasanth B.A / Chennai – April 21st, 2020

Youth develops vehicle to help COVID-19 patients

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At a time when personal distancing is emphasised, reaching out to people in quarantine or persons who have tested positive for COVID-19 becomes a challenge. More so, because people fear contracting the virus from the positive persons.

V. Karthi demonstrating his remote-controlled vehicle at the Coimbatore Collectorate on Monday. | Photo Credit: M_PERIASAMY
V. Karthi demonstrating his remote-controlled vehicle at the Coimbatore Collectorate on Monday. | Photo Credit: M_PERIASAMY

To overcome the challenge, Vedappati resident V. Karthi seems to have a solution in his remote-controlled vehicle, which he showed to the district administration authorities and demonstrated to journalists at the Coimbatore Collectorate on Monday.

Mr. Karthi, an engineer, says he designed the vehicle over the last weekend with materials he had acquired while working over the years on various projects. His objective behind developing the vehicle is to help supply food, medicines or other items to people quarantined or persons who tested positive.

The vehicle will also help them chat over video call with doctors or family members when mobile phone is attached.

Built over four wheels with a circuit board and four batteries of 3v each, Mr. Karthi’s vehicle runs responding to commands given from mobile phone, through an app. A mobile phone or an internet dongle at the vehicle’s end passes on the commands to the circuit board.

After the demonstration, the officials said that he was free to take it to hospitals to see if they were interested, he adds.

Mr. Karthi says he is engaged in developing mobile apps and robotic projects.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Coimbatore / by Special Correspondent / Coimbatore – April 20th, 2020

Hyundai ties up with Air Liquide to produce ventilators amid COVID-19 outbreak

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Hyundai and Air Liquide aim to achieve a target of 1000 ventilators in the first phase of production and scale up subsequently.

Chennai :

Hyundai Motor India (HMI) has entered into a partnership with Air Liquide Medical Systems (ALMS) to augment the production and supply of ICU ventilators in Tamil Nadu and other states amid the COVID-19 crisis.

Through this partnership, HMI and ALMS aim to achieve a target of 1000 ventilators in the first phase of production and scale up subsequently.

Ventilators are medical devices used by healthcare professionals to treat patients who are unable to breathe on their own by delivering air with a high concentration of oxygen to their lungs. For patients severely affected by COVID-19, ventilators are critical to ensure continuous oxygen is supplied to overcome respiratory insufficiency.

Commenting on the arrangement with ALMS, SS Kim, MD & CEO, Hyundai Motor India Ltd, said, “Hyundai and Air Liquide Medical Systems are working together to ensure a steady supply of ventilators in India.”

Anil Kumar, managing director, ALMS India, said, “Air Liquide is one of the very few global companies with a dedicated research and development team to manufacture ventilators in India.”

“Air Liquide Medical Systems is employing all the resources available to manufacture innovative, easy-to use and high-performing ventilators and will hold the reins to deliver quality service across the country during this time of need and to spearhead the Make in India initiative,” a release stated.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Tamil Nadu / by Express News Service / April 18th, 2020