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Happi Planet, a plant-based home care start-up, secures new investment from Fireside Ventures

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Plant-based home care start-up Happi Planet raises latest funding from Fireside Ventures

Homecare products start-up Happi Planet, co-founded by former P&G executives, announced that it has secured Rs 8.47 crore in a funding round from Fireside Ventures. This comes as a significant boost after the start-up raised Rs 1.25 crore from 100X.VC in March last year. The funding is expected to propel Happi Planet’s offline presence and awareness initiatives, with the brand aiming to achieve a 10x topline growth in the next 12 months.

Co-Founder Nimeet Dhokai emphasized that the funding will help cater to the increasing demand for “better-for-you” products in the homecare space. He highlighted the evolving consumer needs for toxin-free options in homecare products and emphasized that Happi Planet is dedicated to providing 100% plant-based solutions to meet these needs.

Launched in July 2022, Happi Planet offers a variety of plant-based products, including laundry detergent liquid, dishwashing liquid, handwash, floor cleaner, and toilet cleaner. These products are currently available for purchase on online platforms and in modern trade stores such as Reliance Signature stores.

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With a focus on broader market penetration, Dhokai stated that the brand aims to achieve double-digit market share in the homecare liquids space over the next five years. The company’s omni-channel strategy includes plans to expand its presence to over 250 outlets by the end of the year, while also ensuring competitive pricing to ensure accessibility for consumers.

In line with its commitment to transparency and sustainability, Happi Planet discloses all ingredients on its packaging labels and utilizes paper carton packaging. The brand’s dedication to providing toxin-free, plant-based homecare solutions has been further reinforced through this latest funding from Fireside Ventures.

The significant investment from Fireside Ventures serves as a testament to Happi Planet’s mission to meet the growing demand for environmentally-friendly homecare products, while also positioning the brand for substantial growth in the coming years.

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Published on February 13, 2024

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94 pc of Indian firms plan to boost workers' skills, abilities this year: Report

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94 pc of Indian firms plan to boost workers' skills, abilities this year: Report

New Delhi, Feb 27 (IANS) – A new report revealed that 94 per cent of Indian companies plan to enhance their employees’ skills in 2024, with 53 per cent looking to provide online training programs. According to LinkedIn, upskilling, aligning learning with business goals, and promoting a culture of learning are top priorities for learning & development (L&D) professionals in India this year.

Ruchee Anand, Senior Director at LinkedIn India, stated, “With skills for jobs expected to change 68 per cent by 2030 globally, there is a greater emphasis on learning both technical and soft skills.” The report surveyed over 4,000 hiring managers across various countries, including India, to understand the changing skill requirements due to advancements in AI and automation.

The report noted that 98 per cent of Indian employers have observed significant shifts in the skills they prioritize for job candidates. Companies are now seeking candidates with AI expertise, soft skills, and a willingness to learn. Additionally, 91 per cent of L&D professionals in India believe that human skills are increasingly competitive in the economy.

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Furthermore, 48 per cent of hiring managers in India are offering career progression opportunities to their current employees. They are focused on helping employees acquire the skills needed for the future of work and providing competitive salaries and benefits to retain top talent, according to the report.

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With unsecured personal loans under lens, growth momentum in the segment to derail in coming quarters

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With unsecured personal loans under lens, growth momentum in the segment to derail in coming quarters

New Delhi, Feb 26 (IANS) ICICI Securities has warned of a potential derailment of growth momentum in unsecured personal loans due to recent regulatory actions. The report highlights concerns over accelerated growth in unsecured loans and the impact on NBFCs.

The regulatory measures by the RBI include an increase in risk weights on unsecured consumer credit and banks’ funding to NBFCs. This is aimed at prompting lenders to reassess their growth strategies in light of the heightened credit growth in unsecured personal loans since the onset of the Covid pandemic.

The surge in credit demand for personal and consumer loans was driven by factors such as disruption in cashflow for small SMEs, temporary unemployment during the Covid phase, and a focus on lifestyle upliftment. Additionally, tech upgrades during Covid simplified credit delivery and expanded the reach for NBFCs.

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Many NBFCs have adapted to the demand by revamping their processes and partnering with fintechs to leverage their balance sheet. Consequently, credit growth in personal and consumer loans has exceeded 100 per cent CAGR for most NBFCs, far surpassing the sub-20 per cent blended growth between FY21 and December 2023.

The cumulative AUM of NBFCs analyzed in the report amounts to Rs 10 trillion, with unsecured loans exhibiting even faster growth rates. Some players have reported unsecured loan CAGRs exceeding 100 per cent between FY21 and December 2023. This trend underscores the significant impact of unsecured personal loans on the overall credit landscape for NBFCs.

–IANS

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India seeks greater say for developing countries at WTO meet

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India seeks greater say for developing countries at WTO meet

India advocates for flexibility in existing WTO agreements for developing countries at 13th Ministerial Conference

Abu Dhabi, Feb 26 (IANS) India emphasized at the 13th Ministerial Conference of the WTO in Abu Dhabi that developing countries need flexibility in current agreements to address constraints in industrialization. Commerce Secretary Sunil Barthwal led the Indian delegation, highlighting the need for appropriate policy space to tackle longstanding issues.

India raised concerns about combining development issues with new topics like “Trade and Industrial Policy” and objected to integrating Gender and MSMEs discussions within WTO, stating they are already addressed in other international forums.

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In discussions on sustainable development and policy space for industrialization, India stressed the importance of maintaining focus in the multilateral trading system and avoiding mixing non-trade issues with the WTO agenda. The country also promoted a sustainable lifestyle approach, including the LiFE movement for environmental conservation.

Furthermore, India expressed apprehension about the rise of trade protectionist measures under the guise of environmental protection, calling for a balanced approach. The nation urged for a sustainable way of living based on traditions and conservation values to combat climate change effectively.

Journalist: IANS
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