New tech on the block: Crypto, Fintech, GenAI, cloud, AI & Medtech

The Tech Panda takes a look at recent tech launches.

Crypto: A new service that lets users earn rewards on crypto holdings without commission or fees

Mudrex, a crypto investment platform, launched its product called Earn, initially supporting 50 cryptocurrencies in the first phase. This new service offers users the opportunity to earn rewards on their crypto holdings without any commission or fees. Users can earn up to 10% passive income on their crypto holdings without any lock-in period. 

Edul Patel, CEO & Co-founder of Mudrex said, “By eliminating fees and simplifying the process, we aim to empower our users to maximize their crypto earnings effortlessly. The Earn product has already started gaining traction during its beta stage, attracting over 5000+ users who collectively staked 1 million in the past two weeks. We also plan to expand the range of supported coins, continuously enhancing our platform’s value proposition for the users”.

Features

To participate in Earn, users need to maintain a minimum balance of the supported coins in their Mudrex wallets. By engaging in a mix of short-term ventures such as margin funding and allocating funds into secure, long-term DeFi protocols, Mudrex attempts a steady flow of fixed annualized returns from minimum 0.023% to maximum 10% on their investments. 

Fintech: A metaverse lounge for non-resident Indians

HSBC India launched its first-ever metaverse lounge for non-resident Indians, a strategic move to reach out to its globally-minded and technologically savvy customers, in one of the world’s fastest-growing economies.

Sandeep Batra, Head, Wealth and Personal Banking, HSBC India, said, “We already support the international needs of three quarters of a million NRIs at HSBC. And with our unrivalled international proposition – including digital on-boarding, overseas education, access to global wealth solutions and Beyond Banking – we’re super excited to increase our market share and become the bank of choice for Global Indians.”

The Why

India is home to the world’s largest diaspora with an estimated 32 million global Indians. The Indian diaspora contributes around 3.4% to India’s economy and making India one of the largest recipients on remittances, with USD $ 125 billion in 20232.

Features

Metaverse is a virtual world, where people, in their personalized digital avatar, can engage and get the real-world bank lounge experience from the comforts of their homes anywhere in the world. On entering HSBC India’s first-ever metaverse lounge for non-resident Indians, you will be able to experience various spaces like the Amphitheatre, Premier Lounge, Beyond Banking Zone, Mariner’s Harbor, Overseas Education Lounge, NRI Oasis and Interactive Zone.

Fintech: Another Third-Party Application Provider from the NPCI to offer UPI payments via app

Bengaluru-based startup POP has received approval as a Third-Party Application Provider (TPAP) from the National Payments Corporation of India (NPCI) to offer UPI payments via its POPclub app. The company, in partnership with financial firms such as Yes Bank and Juspay, has built its UPI stack.

Bhargav Errangi, Founder of POP, said, “POP’s goal is to become the most sought-after go-to platform for payments and shopping for digitally active young Indians. As consumer behaviours evolve, we aim to provide innovative app experiences tailored to their interests in daily consumption”.

The Why

POP wants to cater to the rapidly evolving lifestyle choices of the discerning modern consumer. While D2C brands are a fantastic first offering, POP is already working towards expanding POPcoins redemption reach to other pertinent lifestyle categories like travel, events, experiences, and more via large enterprise partnerships.

POP joins prominent players like Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorised to provide UPI payments. Marketed as “Designed to reward”, POPclub UPI application is now rolled out with attractive launch rewards and is now available to download on Google Play Store and Apple App store.

Features

The POP UPI service will enable users to earn POPcoins, a shopping currency that’s already used by 200+ online merchants, with every UPI transaction made through the POPclub app.

These POPcoins can be used to buy a wide range of products from all major direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods- all of these housed within the POPclub app.

Differentiating itself from other UPI players, POP emphasises 2% value back (via POPcoins) for every UPI transaction.

POPcoins-led rewards offer a predictable and consistent reward promise compared to the luck-based and gamified models of other UPI apps. These can be effectively used to purchase over 100,000 SKUs consumed by our target audience.

AI: An ecosystem designed to streamline the hiring process for organizations, recruiters, & job seekers

Simplify3X, a software testing solution launched the Resume Builder product of the Hire3x product suite. This feature is part of Hire3x’s mission to transform the talent acquisition landscape through an AI-powered ecosystem designed to streamline the hiring process for organizations, recruiters, and job seekers alike.

Vijay Daniel, CEO of Simplify3X, said, “We are thrilled to introduce Hire3X to the market. Our platform is designed to elevate the recruitment process by providing AI-driven solutions that cater to the evolving needs of both employers and job seekers. The creation of the graphical resume, an outlook of yourself summarized on a single page using machine learning, is a direct response to the gap we identified in how individuals present themselves through traditional resumes.”

Features

• The all-new feature offers a suite of resume types, including graphical resumes, ATS (application tracking system)-friendly resumes, and video resumes.
• It utilizes AI technology to simplify the creation and presentation of resumes. Users can select from a variety of professional templates, including visually appealing graphical resumes and user-friendly formats.

AI: Generative AI-Powered guided meditation

ManipalCigna Health Insurance, an Indian health insurance company, launched its generative AI-Powered guided meditation; Mini Mindful Moments in celebration of International Yoga Day. Mini Mindful Moments by ManipalCigna in collaboration with Terribly Tiny Tales (TTT) invites individuals to explore and connect with their unique idea of bliss.

Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, said “In this fast-growing hustle culture, finding calm in between chaos becomes a necessity. Studies show one in every third Indian struggles with stress and anxiety. This International Yoga Day, we aim to make mindfulness more essential with our Mini Mindful Moments initiative. This AI generated innovative experience offers personalized guided meditation videos that is tailored to individual’s unique idea of bliss, showcasing that Health is the real Wealth.”

The Why

The aim of this initiative is to encourage people to take out a moment from the daily hustle-bustle, chaos and monotony and rejuvenate themselves or gift that moment of bliss to their loved ones. Through the #MiniMindfulMoments portal, users can access customized meditation experiences crafted using cutting-edge generative AI. Each video is uniquely tailored, ensuring a personalized journey towards relaxation and inner peace.

Features

• On the microsite #MiniMindfulMoments, users can create and gift uniquely tailored meditation experience in just a few prompts, which will be transformed into a personalised mini meditation video.
• The personalized meditation will have a custom audio and name which will be created using generative AI technology. The output will then be shared with users, allowing them to listen and share with their family and friends.

Cloud: A new cloud region hosted on a cloud service provider empanelled with the Ministry of Electronics & Information Technology

Cisco, the security and networking company is launching Cisco Meraki India Region, a new cloud region that is hosted on a cloud service provider empanelled with the Ministry of Electronics and Information Technology, Government of India. The Meraki India Region will empower businesses across the nation to embrace a cloud-first transformation, while helping customers meet their local data storage and privacy needs.

“Launching the Meraki India Region is a critical step to ensuring customers can securely connect and scale their business with the simplicity they expect from Meraki,” said Lawrence Huang, SVP/GM – Cisco Networking – Meraki & Wireless. “The Meraki India Region helps our customers meet their local data storage needs with advanced security features such as penetration testing and daily vulnerability scans, continuing the drive towards digital transformation across the country.”

The Why

This launch comes at a time when the demand for data localization and privacy is rising rapidly. According to the Cisco 2024 Data Privacy Benchmark Study, 97% of organisations in India believe data is inherently safer when stored within their own country or region, and 94% trust global providers to protect their data more effectively than local providers. For customers that prioritize local data storage such as public sector entities, government, education, financial institutions, healthcare, and professional services, the Meraki India Region offers a suite of benefits that align with their cloud transformation.

Features

• Meraki offers comprehensive Networking (Wired, Wireless, SD-WAN), secure networking, and IoT (Sensors) capabilities that empower customers with centralized visibility and control, unified management of wireless and wired networks, and reduced operational expenses.
• With Meraki, Cisco will provide customers with more choice to access resilient and secure cloud infrastructure to develop innovative solutions, simplify network operations, create scalable networks that are easy to manage, unify secure IT experiences and address dynamic customer needs.

AI: A cutting-edge music label to revolutionize the indie music landscape

This World Music Day, Indian music education platform Artium Academy introduced Juju Baby Music, a cutting-edge music label poised to revolutionize the indie music landscape. Founded by visionary entrepreneurs Vivek Raicha and Ashish Joshi, alongside renowned composer and producer Gourov Dasgupta, Juju Baby Music aims to redefine music IP, nurture emerging talent, and leverage artificial intelligence.

Vivek Raicha, Co-Founder and CEO of Artium Originals, commented, “Our vision at Artium Originals is to empower the future of music through strategic financing, equitable artists partnerships and new distribution technologies starting with Juju Baby Music, a pioneering venture in collaboration with the extremely gifted and accomplished music composer/producer Gourov Dasgupta. With Juju Baby Music we’re ushering in a new era in Indie music by integrating real music with groundbreaking AI-driven videos, offering an unmatched sensory journey.”

Features

• The debut of Juju Baby Music is marked by the launch of “Future Wave,” an album that promises to redefine indie music. It blends distinctive melodies with futuristic synth pop and synth wave arrangements, featuring collaborations with India’s music icons like Shaan, Javed Ali, Akhil Sachdeva, Jyotica Tangri, Divya Kumar, and emerging talents such as Aishwarya Anand from Artium Academy. Each track is accompanied by visually stunning AI-driven music videos, transporting artists into space-age cyberpunk settings for an immersive visual experience.
• Juju Baby Music plans to release monthly genre-specific albums, featuring weekly song releases culminating in EPs.
• Following “Future Wave,” upcoming albums will explore genres like Indie Cafe and Folk Music, blending mainstream stars with fresh Artium Academy talent.
• Each song will debut with integrated videos on YouTube and audio releases on platforms such as Spotify, Apple Music, and JioSaavn, Wynk and others.
• The first ever Juju Baby Music song features Indian Music Icon – Javed Ali. The track is the first release from Futurewave – EP with videos created using the cutting-edge Unreal AI.

Green: Green loans to promote sustainable finance

Rupee112, an RBI-registered lending non-banking financial company has announced the launch of Green Loans, dedicated to facilitating affordable financing for solar and electric vehicle (EV) solutions. With targets to achieve Rs1000 crore in revenue and disburse 3 lakh loans by FY2027, it underscores a robust commitment to economic growth and environmental responsibility.

Vikkas Goyal, Founder Rupee112, highlighted the significance of Green Loans, “At Rupee112, we believe in leveraging financial solutions to drive positive environmental impact. Our Green Loans initiative aims to enable individuals across India to embrace sustainable living practices without compromising on financial stability.”

Features

• The Green Loans product is designed to empower borrowers to invest in renewable energy sources such as solar power systems and electric vehicles.
• This initiative not only supports individual customers in adopting eco-friendly technologies but also aligns with the Indian government’s policies and efforts to encourage adoption of EV vehicles and reduce carbon footprints and combat climate change.

Crypto: A new token for trading

Bitget, the leading global cryptocurrency exchange and web3 company, announced that its native token, Bitget Token (BGB), is now exclusively available for futures trading on the platform. As the first BGB perpetual futures, BGBUSDT-M was live on July 8, 2024, with a maximum leverage of 50x.

Gracy Chen, CEO of Bitget, commented: “We are thrilled to expand the trading options for BGB, offering our users more ways to benefit from Bitget’s native token. The addition of BGB to the futures market, along with existing trading services and utilities, proves our commitment to providing a comprehensive, rewarding and smart trading experience. Looking forward to new heights of the token and the company!”

Features

• BGB is the ecoystem token of Bitget, designed to create a simple, secure crypto ecosystem accessible to all. Launched in July 2021 with a total supply of 2 billion, BGB now has 1.4 billion tokens in circulation. Bitget Token (BGB) offers exclusive perks to all holders, aiming to share the fruits of Bitget’s growth with all users. These benefits include spot trading fee discounts, free withdrawal, access to token sales or airdrops on Launchpad and Launchpool, and other platform-specific benefits, incentivizing users to hold and use BGB, thereby creating a strong utility-driven ecosystem.
• In addition to futures trading, BGB can be traded on Bitget’s spot and margin markets, used for copy trading, and utilized with trading bots, enhancing the versatility and utility of the token within the Bitget ecosystem. The token has also been listed on other major centralized exchanges like Bitfinex and MEXC. BGB has demonstrated impressive market performance, a new all-time high of $1.4306 in early June 2024, up 141.4% in the past year.

Medtech: AD-Gen Ambulance

Pinnacle Industries, an automotive interiors, seating, and speciality vehicles company, launched the AD-Gen Ambulance. A semi-premium variant, AD-Gen Ambulance focuses on elevating the standards of the current fleet of ambulances across India with state-of-the-art technology and innovative design elements. This variant can be built and converted on all vehicle platforms.

“Our goal with the AD-Gen Ambulance is to provide high-quality yet accessible emergency medical services nationwide,” says Arihant Mehta, President at Pinnacle Industries. “We recognize that the initial 10-20 minutes following an accident or medical emergency can be the difference between life and death. This ambulance is engineered to optimize response times and enhance patient outcomes.”

The Why

In a country where medical emergency transportation often falls short despite rapid advancements in other sectors like food and grocery delivery, the introduction of this semi-premium ambulance underscores a critical need for strengthened healthcare infrastructure. When emergencies strike, especially during the critical ‘golden hour’ following traumatic injuries or severe medical crises, the swift arrival of a well-equipped ambulance can significantly impact outcomes, potentially saving lives.

Features

• Complete interior upgrade using Automotive ABS (Acrylonitrile Butadiene Styrene), renowned for its impact resistance, thermal insulation, and antibacterial properties.
• Its single-piece side panels reduce vibrations and noise while minimizing joints to facilitate easier cleaning and disinfection. The material’s chemical resistance ensures durability even when exposed to diverse substances
• High-strength aluminum rails replace traditional reinforcements, supporting seamless equipment installation without compromising the vehicle’s structural integrity. These rails are engineered to withstand 10G loads, further enhancing stability and reducing vibration-related risks.
• European-standard seats provide comfort and optimized space with their foldable design, complemented by an interior layout designed for emergency efficiency. Unlike conventional Indian ambulances, this vehicle adheres to European standards by accommodating only the patient, a doctor, and either one nurse or family member in the patient’s cabin, eliminating curtains and washbasins for improved hygiene.
• Equipped with advanced life support systems including a defibrillator, ventilator, electric suction pump, and infusion pump, securely fastened yet readily accessible.
• The oxygen cabinet in AD-Gen features a Digital Oxygen System for precise monitoring and programmable alarms.
• A dedicated drug cabinet enhances the accessibility and protection of medications.
• Adjustable interior lighting ensures optimal visibility without glare, which is crucial for nighttime operations.
• Integrated electronic systems in the AD-Gen include a control screen, Mobile Data Terminal (MDT), and Digital Oxygen Delivery System (ODS) control panel for streamlined access to vital signs, communication systems, and navigation tools, reducing distractions for medical personnel. These monitors provide real-time data to paramedics and EMTs, enabling them to assess the patient’s condition and intervene promptly if necessary.
• IT infrastructure of AD-Gen includes a rugged tablet with an EMSO App for Electronic Patient Care Reporting (ePCR), GPS, live traffic updates, and attendance management.
• Additional IT features encompass 4G-based GPS, RFID, VTMS, and NFC tags for comprehensive operational efficiency.
• Furthermore, the effective coordination between ambulance services and healthcare facilities ensures seamless transfer of patients, enabling continuity of care from the scene of the incident to specialized treatment at hospitals. This integration is facilitated through communication systems and protocols that streamline information sharing and medical decision-making.