Exclusive: Major leadership rejig at Nestle India; Rajat Jain to get significant role within group

Meghalaya becomes first Indian state to sponsor an esports team

Indian broadcasters' Himalayan challenge in Nepal

Big salary gaps in Indian communications: Freshers start low, women hit glass ceiling

Infosys, ITC, Titan, Biocon: Industry leaders join Storyboard18’s Share The Spotlight movement

Nobody’s Perfect Retro Porsche Ad

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In conversation with IHCL’s Puneet Chhatwal & GroupM’s Kate Scott-Dawkins

Why are brands including e-sports in their sports marketing itinerary?

Storyboard18 x The English Nut: How to pronounce these 10 brand names

Experts' Take On Reinvention Of Ad Campaigns Through Technology

Experts Speak On Key Emerging Trends In Cannes Lions Entries

Leaders of the future have to be outstanding human beings: Nestle MD

In conversation with VMLY&R’s Hari Ramanathan

Ayurvedic startup Kapiva will reportedly be raising Rs 300-330 crore (about $40 million) to expand operations and grow its market presence.

According to a report by Moneycontrol, existing investor OrbiMed may lead the round while Fireside Ventures, Vertex Ventures, 3one4 Capital, and others may also participate.

Kapiva was founded in 2016 by Ameve Sharma, a member of the ayurvedic product maker Baidyanath Group, and Shrey Badhani. 


The company sells a range of products like ghee, honey, teas, oils, and other products.

	
<a href="https://www.storyboard18.com/advertising/genz-fashion-startup-newme-launches-90-minute-delivery-service-in-delhi-ncr-42227.htm">GenZ fashion startup NEWME launches 90-minute delivery service in Delhi-NCR</a>


As per the Moneycontrol report, Kapiva's valuation will surge to about $130-150 million (Rs 1,100 to 1,250 crore) after the fundraiser.

Kapiva's grew by 95% to Rs 115 crore in FY23 as against Rs 59 crore in FY22. However, its losses widened to Rs 65 crore in FY23 from Rs 48 crore in FY22 as the company expanded its product lines.


The Ayurvedic startup is yet to file FY24 earnings.

So far the company has raised a total of over $40 million from a clutch of investors. OrbiMed is its single largest shareholder with a stake of over 30 percent, Baidyanath Group owns around 12 percent of the company, and Vertex owns an 11% stake.

Ayurvedic startup Kapiva to raise Rs 330 crore to expand ops: Report

The ICC have lifted the total prize pool for the 2024 edition to $7,958,080 (US$) — more than double that of the 2023 edition.

This ensures that the winners of the Women’s T20 World Cup 2024 will walk away with a staggering $2.34 million, marking a 134% increase from the $1 million awarded to the champions, Australia, in 2023.


The runners-up will also benefit from a 134% rise, securing $1.17 million in the upcoming edition. The semi-finalists will receive $675,000 each, more than three times their 2023 payout.


The prize money extends beyond the knockout stages, as each group stage win will now be rewarded with $31,154, reflecting a 78% increase from last year’s $17,500.


Furthermore, teams that exit during the group stage, there is a base prize of $112,500 awarded to all 10 participating teams, totalling $1.125 million. 


Teams finishing fifth to eighth will earn $270,000 each, and teams finishing ninth and 10th earn $135,000 each. 


The marquee event is set to go underway on 3 October. All group matches will be completed prior to 15 October, before all eyes shift to the semi-finals scheduled for 17 and 18 October. The victors of semi-final one and two will then face off in the ultimate showdown for the Women’s T20 World Cup trophy on 20 October.


Read More: <a href="https://www.storyboard18.com/how-it-works/icc-mens-t20-world-cup-2024-ad-strategies-shift-as-mobile-takes-center-stage-31304.htm">ICC Men’s T20 World Cup 2024: Ad strategies shift as mobile takes center stage</a>

ICC announces record prize money for Women’s T20 World Cup 2024

In a bid to empower microentrepreneurs, beer and beverage company AB InBev India joined the Open Network for Digital Commerce (ONDC) on Wednesday. The move is a part of AB InBev India's 'Swadhaar' program, aims to help businesses run by micro-entrepreneurs across the communities the company serves.


The 'Swadhaar' program addresses challenges micro-enterprises face, particularly those in the food processing, retail distribution, and allied sectors. It is aimed at digitally empowering micro-entrepreneurs in the rural, semi-rural, and peri-urban areas, focusing on farmers, micro-businesses, MSMEs, and Kirana stores with an annual turnover of less than Rs 3 crores.

<a href="https://www.storyboard18.com/gaming-news/exclusive-now-ondc-to-boost-real-money-gaming-industry-42571.htm">Now ONDC to boost Real Money Gaming industry</a>

Anasuya Ray, Vice President –Corporate Affairs, AB InBev India said, "By leveraging the ONDC Network, we aim to bridge the digital divide and unlock multiple opportunities for small businesses. This initiative will not only empower micro-entrepreneurs to expand their e-commerce prospects in the communities we serve but also strengthen our value chain, ensuring that we support and grow alongside our partners at every level".

<a href="https://www.storyboard18.com/brand-marketing/easemytrip-launches-marketplace-scanmytrip-com-integrated-on-ondc-network-42101.htm">EaseMyTrip launches marketplace, ScanMyTrip.com, integrated on ONDC Network</a>


Through Swadhaar, AB InBev India plans the beverage company to onboard over 5,000 new sellers on the ONDC Network by 2030. AB InBev said, "In its first year, the Swadhaar program aims to empower 500 small-scale sellers across Karnataka, Maharashtra, Uttar Pradesh, Haryana, and West Bengal through the ONDC Network. The initiative places a special emphasis on onboarding
small-scale, women-led enterprises, farmers, nano-businesses, MSMEs, and Kirana stores from diverse sectors like retail, FMCG, agro-food and allied sectors".

T. Koshy, MD & CEO of ONDC, said, “ONDC Network's mission is to democratize digital commerce, enabling businesses of every size to flourish in the online marketplace. AB InBev India's Swadhaar program, harnessing the power of the vast Open Network, perfectly illustrates how we can empower micro-entrepreneurs to overcome geographical barriers and showcase
their products to customers nationwide. By prioritizing underserved segments such as women-led enterprises and rural businesses, we're not merely expanding e-commerce accessibility; we're fundamentally reshaping how small businesses engage in the digital economy, paving the way for a more inclusive and prosperous India".

AB InBev India joins the ONDC Network to empower micro-entrepreneurs

Snap Inc on Wednesday launched fifth generation of spectacles, and 'Snap OS'. According to CEO Evan Spiegel, the spectacles will work seamlessly on mobile devices via the 'Spectacles' application.

The Snap spectacles, powered by Snap OS, are packed into AR glasses that weigh less than half the weight of a typical VR headset at only 226 grams. They are equipped with four cameras and enable hand tracking.

On the other hand, the Snap OS has been designed and built from the ground up and leverages its proprietary technology,  Liquid Crystal on Silicon (LCoS) micro-projectors, and waveguides, creating vivid, sharp images both indoors or outdoors - even in direct sunlight.  The Optical Engine delivers a 46-degree diagonal field of view with a 37 pixel per degree similar to a 100-inch display just 10 feet away, according to Snap.

The other features of the spectacles include its dual system-on-a-chip architecture.

With two Snapdragon processors from Qualcomm, this infrastructure splits the compute workload across the two processors. The spectacles work alongside titanium chambers to improve heat dissipation. 

Spectacles deliver up to 45 minutes of continuous standalone runtime. The company has partnered with OpenAI, "to give developers access to powerful multimodal large language models".


The CEO said that spectacles will be available from today onwards as part of the Spectacles Developer Program.


According to Snap Inc., more than 375,000 AR creators, developers, and teams from nearly every country in the world have built over 4 million lenses. In just the last year, Snapchatters have engaged with Lenses made by our AR community more than 4.5 trillion times.

On creators, the company said the posting has more than tripled over the past year.

"Creators have garnered trillions of views on the Snaps in their Stories, and now, more than 500 million people watch Spotlight videos. Every day, there are nearly 15 billion interactions between creators and their fans on Snapchat,"Snap Inc said. 

Snap Partner Summit 2024: Snap Inc launches new AR glasses spectacles

Entrepreneur Mayank Bidawatka, the co-founder of India's defunct microblogging platform Koo, has started a new venture called 'Billion Hearts Software Technologies'.

Bidawatka informed in a LinkedIn post by writing, "I’m happy to share that I’m starting a new position as Founder at Billion Hearts Software Technologies!".


According to Bidawatka, the Billion Hearts will build digital products. He wrote on LinkedIn, "Billion Hearts as a name represents the dreams of many. And hopefully the usage of billions of users around the world for whom this startup will build beautiful digital products".


Bidawatka will launch the startup in a few months as per his LinkedIn post.


<a href="https://www.storyboard18.com/digital/a-product-customers-never-wanted-the-rise-and-fall-of-koo-36220.htm">A product customers never wanted?: The rise and fall of Koo</a>


In a previous post, he said that his upcoming venture has secured funding from several founder friends who have established big consumer tech startups in the country. He added, "We are busy talking to some known VCs for seed funding".


Koo, similar to the X platform, was shut down this year due to unsuccessful talks on mergers with several companies and high maintenance costs. 


Backed by Tiger Global, Koo was founded in 2020 during the COVID-19 pandemic by Bidawatka and Aprameya Radhakrishna. It was last valued at $274 million.

Before founding Koo, Bidawatka had also started companies like Goodbox and The Media Ant.

Koo co-founder Mayank Bidawatka starts new venture 'Billion Hearts Software'

In just over a year, led by FWD (Myntra's app-in-app), Myntra has nearly doubled its GenZ customer base, growing from over 8 million in mid-2023 to 16 million in 2024. The company plans to add another 20-25mn GenZ customers in the next couple of years. 

 
The GenZ cohort represents one-third of India’s e-lifestyle shoppers and influences 25 percent of the overall GMV in e-lifestyle fashion. The online trend-first fashion market is expected to grow over 8X into a $5 billion market by 2028.

 
Sunder Balasubramanian, chief marketing officer, Myntra, said, "Myntra has been at the forefront of redefining fashion possibilities and offering customers what they most seek to express themselves through fashion. And we are now embracing the undeniable influence of GenZ on the fashion industry by reimagining our fashion shopping experience to align with their values and expectations. Led by FWD, we aim to master the essentials of trend, tailor-made shopping experience and value. We plan to double our customer growth and penetrate deeper into the market, by leveraging cutting-edge technology to enhance every touchpoint from selection to discovery to delivery.”


Additionally, tech advancements are at the core of FWD’s strategy, with features like Spot it- Get it, MyFashionGPT, and Myntra Minis (Myntra’s short video platform). Nearly 25k micro and nano influencers with whom the cohort resonates are also on board. Recognizing GenZ’s preference for mobile web browsing over downloading new apps, the company has also rolled out its Mweb platform for FWD. 

 
Among the new initiates to propel further in the GenZ space, Myntra has launched The Ultimate Glam Clan- a shopper-led creator program in the e-lifestyle space. This program focuses on creating an engaging experience that celebrates GenZ’s creative spirit, enabling customers at large to step into the role of creators, earning rewards while expressing their love for fashion, stated the company.

 
With a clear focus on trends, elevated shopping experience and value for customers, Myntra is focused on engaging the 60 million GenZ e-lifestyle shoppers further, with strategies designed to double its penetration in this segment in the next couple of years. 


Read More: <a href="https://www.storyboard18.com/brand-marketing/ahead-of-festive-season-myntra-expands-gifting-category-with-over-70000-options-37849.htm">Ahead of festive season, Myntra expands 'gifting' category with over 70,000 options</a>

Led by ‘FWD’ - Myntra doubles Gen Z customer base to 16 mn

Zupee, has entered into an agreement with the Government-backed e-commerce platform, ONDC (Open Network for Digital Commerce) to make skill-based games from Zupee  more accessible to the masses. 

Under the agreement, Zupee is registered as a seller application on the platform, with the gaming company offering its game of Ludo, through ONDC. 

Speaking about the partnership, Dilsher Singh Malhi, Founder & CEO - Zupee, said, “We are delighted to  partner with ONDC and be listed on the platform. This collaboration strengthens our efforts to bring the  joy of playing culturally relevant Indian games, responsibly, to a larger audience. We are excited to test  the potential of the partnership for both Zupee and ONDC users.”

The partnership will also help the game developer to build trust around online gaming amidst existing and future gamers.

T Koshy, MD & CEO - ONDC said, “ONDC has been committed to delivering a range of products and  services through a democratized digital commerce and a neutral ecosystem for sellers. The integration of  Zupee, one of the largest skill-based online gaming companies in India, on ONDC Network will be a critical step to strengthen the open and diverse digital marketplace. Zupee's integration on ONDC Network will  not only facilitate offering of value entertainment to larger users in India but also allow them to access a  wider range of products and services at a right price from a single, unified platform.”

In conclusion, this partnership will empower ONDC and Zupee to expand their reach, accelerate customer acquisition, and provide even greater value to their growing user base.

Zupee partners with ONDC to expand reach of skill-based games

Meta to allow Alcohol, Real Money Gambling ads on its platform in India


From August 27, 2024, businesses in India can onboard WhatsApp Business Platform for messaging in the verticals such as Alcohol and Real Money Gambling.

<a href="https://www.storyboard18.com/advertising/exclusive-meta-to-allow-alcohol-real-money-gambling-ads-on-its-platform-in-india-40062.htm">Read more</a>


Major leadership rejig at Nestle India; Rajat Jain to get significant role within group


Nestle India's Rajat Jain to get leadership role within Nestle Group and Rupali Rattan to succeed as Foods Business head. Gopichandar Jagatheesan and Manav Sahni will get new portfolios.


<a href="https://www.storyboard18.com/brand-makers/exclusive-nestles-rajat-jain-to-get-leadership-role-within-group-rupali-rattan-to-succeed-as-foods-business-head-39600.htm">Read More</a>


Prasar Bharati OTT likely to be launched on September 15


Last month, the public service broadcaster invited submissions for the integration of various applications, including gaming, OTT, and educational apps into its platform and also sought onboarding linear satellite TV channels.


<a href="https://www.storyboard18.com/how-it-works/prasar-bharati-ott-likely-to-be-launched-on-september-15-exclusive-41501.htm">Read More</a>


GCPL elevates Ashwin Moorthy to Global Head of Category Direction and Innovation


Ashwin Moorthy was also inducted into the GCPL Global Management Committee and will be part of the senior management.


<a href="https://www.storyboard18.com/brand-makers/gcpl-elevates-ashwin-moorthy-to-global-head-of-category-direction-and-innovation-41940.htm">Read More</a>


Lowe Lintas wins creative mandate for battery brand Amaron


The incumbent ad agency of Amaron was Ogilvy, which has been associated with the brand for over two decades.


<a href="https://www.storyboard18.com/advertising/exclusive-lowe-lintas-wins-creative-mandate-for-battery-brand-amaron-40244.htm">Read More</a>


Meghalaya becomes first Indian state to sponsor an esports team


Meghalaya's vision includes developing esports infrastructure, hosting tournaments, and providing comprehensive support to players, with the aim of bringing them to the forefront and representing Meghalaya, and India, on the global stage, including in future esports Olympics.


<a href="https://www.storyboard18.com/gaming-news/meghalaya-becomes-first-indian-state-to-sponsor-an-esports-team-39918.htm">Read More</a>


Centre, State governments testing anti-deepfake tech, likely to launch this year


Recently, cricketer Virat Kohli fell prey to deepfake video which went viral on social media platforms.


<a href="https://www.storyboard18.com/digital/exclusive-centre-state-governments-testing-anti-deepfake-tech-likely-to-launch-this-year-40950.htm">Read More</a>


YouTube under MIB’s scrutiny for violating content policy


From January to June 2023, Google received 2191 content removal requests from the government and 1677 content removal requests were received between July and December 2023.


<a href="https://www.storyboard18.com/how-it-works/exclusive-youtube-under-mibs-scrutiny-for-violating-content-policy-40717.htm">Read More</a>


ASCI escalates issue of illegal betting and gambling platforms' ads to MIB


Storyboard18 recently reported that offshore illegal gambling firms have been using the Pro Kabaddi League (PKL) as a sporting platform for surrogate advertising.


<a href="https://www.storyboard18.com/advertising/asci-escalates-issue-of-illegal-betting-and-gambling-platforms-ads-to-mib-41941.htm">Read More</a>

Indian broadcasters' Himalayan challenge in Nepal

Indian broadcasters discontinued their feed as they were not being paid for their services by the channel distributors in Nepal for almost two years.

<a href="https://www.storyboard18.com/how-it-works/indian-broadcasters-cease-channel-distribution-in-nepal-over-malpractices-40414.htm">Read more</a>

DPDP Act draft rules expected within two weeks; transition period likely to be restricted to 6 months

Contrary to the expectations of telcos and tech companies, the Digital Personal Data Protection Act, 2023 draft rules likely to have a transition period of only around 6-8 months.

<a href="https://www.storyboard18.com/digital/dpdp-act-draft-rules-expected-within-two-weeks-transition-period-likely-to-be-restricted-to-6-months-42169.htm">Read more</a>

All the big breaks and exclusives only on Storyboard18

Life Insurance Corporation of India (LIC) has undertaken a digital transformation programme named DIVE (Digital Innovation and Value Enhancement). Under DIVE, LIC aims to significantly boost its digital platform with an aim to provide superior experience to its customers, field force, partners and employees.


LIC has appointed Infosys to build its new state-of-art NextGen Digital Platform which will be an integrated end-to-end digital insurance solution to provide excellent Services to its customers, Business lifecycle management and operational activities for sales intermediaries and digital front-end platform for branch employees.


The NextGen Digital Platform will be modular, flexible, cloud-native, and have platform- driven architecture which will be capable of quickly adopting innovative technologies, new products and features. This platform will form the foundation for building high value business applications such as the Customer & Sales Super Apps, Portals and Digital Branch for LIC, stated the company.


Siddhartha Mohanty, CEO & MD, LIC, said, “Our vision is to transform LIC into a technology enabled organisation providing life insurance solutions. We look forward to our partnership with Infosys in creating world class digital solutions and providing best-in-class experience for all our stakeholders including customers and sales intermediaries.”


Mohanty said, “Today we are living in a digitally connected era where customers expect their needs to be met instantly whether during on-boarding or post sales service. Technology can help us generate greater insights about our customers and by leveraging India’s advanced digital eco-system to help us serve better.”


Read More: <a href="https://www.storyboard18.com/brand-makers/neha-more-joins-ferrero-as-business-head-modern-trade-42367.htm">Neha More joins Ferrero as Business Head, Modern Trade</a>

LIC appoints Infosys to build its NextGen Digital Platform

The Indian audio devices market is experiencing "remarkable growth" as offline retail sales hit Rs 5,000 crore moving annual turnover (MAT) in June 2024, driven by a 61 per cent YoY volume growth in the Personal Audio segment, as per GfK report. Growth is driven by the rise in immersive sound technologies, enhanced consumer experiences, and a growing demand for high-quality audio products across both home and personal categories, as per PTI's report.


Key factors driving market growth include:

Rising demand: Consumers are increasingly seeking high-quality audio products for both home and personal use.

Immersive sound technologies: Advancements in sound technology are enhancing the listening experience.

Premiumization: Consumers are opting for superior quality and immersive audio experiences.

Evolving entertainment landscape: The growing popularity of streaming services and audio content is fueling demand.

Personal audio has seen significant growth, with headphones, headsets, and mini/Bluetooth speakers becoming essential for many consumers. True Wireless Headsets have been particularly popular, leading the market in terms of value. Neckbands and mini/Bluetooth speakers also continue to dominate the market in terms of volume.

Home audio is also experiencing growth, with 5.1 channel systems becoming more popular. The market is seeing a shift towards premiumization, with a significant portion of sales coming from high-end segments.

Loudspeakers have also seen strong growth, particularly in the South Zone and smaller towns and cities. Soundbars dominate the loudspeaker segment.

Overall, the Indian audio market is well-positioned for continued growth as consumers seek premium, cinematic audio experiences.

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