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Ecommerce supply chain veteran Sachith Varma joins Arzooo

Ex-Flipkart and Amazon veteran Sachith Varma has joined the Arzooo team as the Vice President of supply chain operations. 

Founded in 2018, Arzooo.com is a B2B commerce platform that aims to empower physical stores with its retail technology. 

The startup’s ‘Go Store’ technology allows stores to buy electronics at the best price, and equips them with a 10x bigger range of products, without having to invest in inventory. This is backed by attractive payments solutions to drive up sales conversion in-store.

Prior to joining Arzooo, Sachith was working with SKF Group as Vice President of supply chain and customer experience. He has previously worked with Flipkart for almost five years in various positions. He also worked with Amazon as the Senior Programme Manager for a year. 

“I am excited to be here at Arzooo and look forward to working on building the greatest growth potential by strengthening logistics and supply chain for a long term impact on the service to our customers,” said Sachith.

Arzooo.com serves over 27,000 retail stores in 21 major cities including Bengaluru, Delhi-NCR, Chennai, Kolkata, Hyderabad, and Vijayawada. 

NHA approves DRiefcase as India’s first personal health records app

India’s first Ayushman Bharat Digital Mission (ABDM) integrated health locker Driefcase has been approved as the Personal Health Records (PHR) app for Ayushman Bharat Digital Mission (ABDM) roll-out.

First announced by Prime Minister Narendra Modi in August 2020, ABDM is a digital framework that will connect patients, doctors and other healthcare stakeholders nationwide to facilitate the safe and secure movement of health information.  

DRiefcase will enable users to share health information under the ABDM framework with doctors and healthcare service providers.

“Digital technology will be the springboard for India’s leap into an integrated healthcare ecosystem that delivers better quality care, superior patient experience, faster insurance processing, and ultimately universal health coverage. As India’s first app to be approved for ABDM roll-out, we are cognizant of the trust placed not only in our technology but also our vision to bridge the information gap that is holding back the potential of our healthcare sector,” said Sohit Kapoor, Founder and Director, DRiefcase. 

This integration will allow users to create their own Ayushman Bharat Health Account and ensure that the created medical records are issued to the correct individual or accessed by a health information user only after proper consent is granted.

Anicut closes second debt fund, raises Rs 875 Cr to invest in 30 startups

Chennai-based debt investment firm Anicut Capital raises Rs 140 crore from Small Industries Development Bank of India (SIDBI) for their second debt fund. The funds will be deployed through the second debt fund, Grand Anicut Fund-II, which closed recently at Rs 875 crore.

The funds received from SIDBI is through the Fund of Funds for Startups (FFS) launched under the Startup India Initiative of Govt of India in January 2015. The ambitious Rs 10,000 crore FFS forms a part of Union Budget Allocation and was launched to boost the growth of the startup ecosystem of the country.

Managed by SIDBI, FFS contributes to the capital of SEBI-registered Alternative Investment Funds (AIF) instead of investing directly into startups. Thus, the corpus received has been down-streamed directly from the Ministry of Corporate Affairs.