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Indian hospitals to raise IT innovation spend by 25% in 3 years: Report

Economic Times

Economic Times · 1m ago

Indian hospitals to raise IT innovation spend by 25% in 3 years: Report

Indian hospitals will increase IT innovation spending by 20-25% in the next two to three years, as nearly half of healthcare providers already allocate 20-50% of their IT budgets to digital innovation. The focus will be on improving patient experience, clinical outcomes, and data-driven decision-making. Workforce capability building, data integration, and cybersecurity are major challenges. Collaborative efforts will enhance healthcare delivery, and AI will play a crucial role in clinical documentation and decision support.

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Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Economic Times

Economic Times · 4m ago

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Manipal Health Enterprises and Fortis Healthcare are in discussions with foreign lenders to raise up to Rs 5,000 crore for bidding on Sahyadri Hospitals, a multispecialty hospital chain. Ontario Teachers' Pension Plan (OTPP), owning a 98.9% stake in Sahyadri, is selling it less than three years after acquiring control from Everstone Capital. Sahyadri operates 11 hospitals across Maharashtra and is a prominent entity in the ongoing consolidation of India's hospital sector.

Dell Technologies appoints Manish Gupta as president, MD for India

Economic Times

Economic Times · 4m ago

Dell Technologies appoints Manish Gupta as president, MD for India

Dell Technologies has appointed Manish Gupta as the president and managing director for India. Based in Bengaluru, Gupta will report to Peter Marrs and lead strategic growth initiatives. With over 25 years of IT sector experience, including a decade at Dell, Gupta's focus will be on customer success, partner collaboration, and innovation. He aims to guide businesses in India towards digital transformation and an AI-powered future, capitalizing on Dell's strong portfolio and innovative culture.

India leads in GenAI adoption, investment trends likely to rise in coming years: report

Economic Times

Economic Times · 1y ago

India leads in GenAI adoption, investment trends likely to rise in coming years: report

India is leading the global adoption of Generative AI (GenAI) technologies, with 81% of Indian organizations implementing GenAI, according to a report by search analytics firm Elastic. The report surveyed 3,200 IT decision-makers and influencers across the US, Europe, and Asia-Pacific, with 300 from India. It also revealed that 94% of respondents expect increased investments and budget allocations towards GenAI initiatives in the next 2-3 years. However, 99% of respondents expressed concerns about processing and using their data, emphasizing the need for organizations to work with GenAI providers who prioritize data security.

August AI raises $3 million funding from Accel, Claypond Capital - The Economic Times

Economic Times

Economic Times · 22d ago

August AI raises $3 million funding from Accel, Claypond Capital - The Economic Times

Healthtech platform August AI raised $3 million from Accel and Claypond Capital. Founded in 2022, the company provides an AI-powered chatbot assisting users with medical queries. The platform helps in symptom analysis and report interpretation and plans to expand its user base and medical database. Available in vernacular languages, August AI serves over 3.5 million users globally and intends to enter the US market, leveraging a network of doctors and partnerships with Indian hospitals.

In Charts: How True North’s LP mix changed through the years

VCCircle

VCCircle · 11m ago

In Charts: How True North’s LP mix changed through the years

True North, a prominent Indian private equity firm, has witnessed significant changes in its investor base across its six funds raised over the past 25 years. As the firm gears up to raise its seventh fund, it has increasingly relied on offshore limited partners (LPs) while reducing its dependence on domestic LPs. This shift reflects True North's evolving fundraising strategy and its ability to attract international investors.

Pristyn Care opens its first super-speciality hospital in South Delhi

Entrackr

Entrackr · 8m ago

Pristyn Care opens its first super-speciality hospital in South Delhi

Pristyn Care opens its first super-speciality hospital in South Delhi Surgery-focused healthcare institution Pristyn Care has opened its first super-specialty hospital in South Delhi. With this, the Gurugram-based firm is expanding its infrastructure and deepening its commitment to advanced patient care. According to the company, the new hospital has four modular operating theaters with advanced technology, including a Level 3 NICU for newborn care. With the expansion, Pristyn Care is equipped to handle cosmetology and dermatology, offering a high-end setup for procedures such as anti-aging treatments, fat loss therapies, and CoolSculpting, along with a comprehensive range of laser treatments. In the last five years, Pristyn Care has conducted 300,000 surgeries. It now handles over 3 million patient interactions yearly, with 100,000 surgery registrations each month. Pristyn Care aims to establish 50 hospitals across 25 cities within the next three years, with plans to open 15 new hospitals in the coming year. The expansion will focus on key cities such as Delhi NCR, Bangalore, Hyderabad, Mumbai, Pune, Chennai, Patna, Coimbatore, Bhubaneswar, Chandigarh, Ahmedabad, and Kochi. Additionally, three new hospitals are set to be launched within the next four months. To support the growth, Pristyn Care aims to employ more than 3,500 healthcare professionals and 750 surgeons in the facilities. For the fiscal year ending in March 2024 (FY24), Pristyn Care’s operating revenue grew by 32.7% to Rs 601 crore from Rs 453 crore in FY23. In FY25, the company claims to have reduced its EBITDA burn by 60% year-over-year. In December 2021, the company secured $96 million from Peak XV Partners and Tiger Global to attain unicorn status.

OmniCard Bags $3 Mn Funding

Inc42 · 1y ago

OmniCard Bags $3 Mn Funding

OmniCard, a spend management startup, has raised $3 million in a pre-Series A funding round led by Ankurit Capital and Taisys. The company plans to expand its customer base from 2 million users to 10,000 enterprises by FY 2027. This investment also represents Taisys' first investment in an Indian startup.

Co-branded credit cards are poised to outpace traditional credit cards: report

YourStory

YourStory · 1y ago

Co-branded credit cards are poised to outpace traditional credit cards: report

According to a report by RedSeer Strategy Consultants and Hyperface, co-branded credit cards are growing in popularity in India and are expected to grow twice as fast as traditional credit cards. The report suggests that co-branded cards will capture over 25% of the market share by volume by FY28 and have a higher transaction volume and value compared to traditional credit cards. The average spend per co-branded credit card is also 1.2 times higher, with a superior activation rate. The growth is driven by tailored rewards and exclusive benefits through strategic partnerships with brands in various sectors.

VAHDAM India raises $3 Mn led by SIDBI Venture

Entrackr

Entrackr · 7m ago

VAHDAM India raises $3 Mn led by SIDBI Venture

VAHDAM India raises $3 Mn led by SIDBI Venture Direct-to-consumer (D2C) tea brand VAHDAM India has raised $3 million (about Rs 25 crore) in funding from SIDBI Venture Capital. Prior to this, the company has raised over Rs 200 crore (approximately $25 million) in primary funding. The investment will further strengthen its balance sheet and cash reserves, VAHDAM India said in a press release. Founded in 2015 by Bala Sarda, VAHDAM India aims to build a homegrown Indian brand for the world, bringing India’s finest teas, herbs, and botanicals to global consumers. All of its products are sourced directly from partner farmers across India and manufactured at its own facility. The brand operates through wholly-owned subsidiaries in key markets such as the USA, Canada, the UK, and Europe. Over the past two years, VAHDAM India says that it has focused on reinforcing its core, optimizing product portfolio, and identifying key levers for scale. The company is also making significant investments in product innovation, R&D, and expanding our in-house manufacturing capabilities. With a sharper focus and a more resilient foundation, it aspires for sustained growth over the next three years. VAHDAM India claims that it is also set to close the current fiscal year with strong growth and positive EBITDA. The brand has been expanding its offline distribution network and has achieved a milestone by launching its teas & botanicals in over 2,000 Walmart stores across the U.S. For the financial year 2024-25, the company is on track to close with net revenues of more than Rs 265 crore and EBITDA profitability.

India a global leader in agentic AI adoption: Deloitte report

YourStory

YourStory · 6m ago

India a global leader in agentic AI adoption: Deloitte report

India is rapidly becoming a leader in agentic AI adoption, with over 80% of businesses developing autonomous agents, according to a Deloitte report. This shift indicates a growing interest in using AI for innovation and efficiency. The report highlights the rising focus on multi-agent workflows and the use of Generative AI for automation. Despite challenges like errors and bias, Indian organizations remain optimistic about overcoming these hurdles within two years through strategic investments and agile innovation approaches.

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