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Tough calls ahead for Paytm.

The beleaguered payments company is reportedly in advanced talks with multiple players to sell its wallet business. This follows RBI’s order barring it from accepting fresh deposits or top-ups with effect from February 29, 2024. 

Jio Financial Services’ share price jumped by as much as 15.21% on the back of the news, closing at Rs 292.40 apiece.

Meanwhile, BYJU’S continues to face uncertainties. Amid mounting challenges, the edtech company reportedly put on hold its deal with football icon Lionel Messi, who was announced as the first global brand ambassador for the edtech firm’s social impact arm, Education For All.

In other news, Vanguard, the world’s largest issuer of mutual funds, has slashed the valuation of Bhavish Aggarwal-led Ola to $1.88 billion, lower than its latest fair value of $2.65 billion as of August 31.

Lastly, it’s an exciting time for scientific research. AI is helping researchers read the hidden text of a charred scroll, buried when Mount Vesuvius erupted nearly 2,000 years ago.

In today’s newsletter, we will talk about 

• PhysicsWallah launches physical school
• The PCOS-friendly Cinnamon Kitchen
• Access Indian healthcare services in MENA

Here’s your trivia for today: Which semi-precious stone’s name comes from the Latin word for “sea water”?

Edtech

PhysicsWallah launches physical school

After investing in a brick-and-mortar skilling institute, edtech unicorn PhysicsWallah (PW) has ventured into physical schools, broadening its range of educational offerings. The Alakh Pandey-led edtech firm has now launched its maiden PW Gurukulam School in Gurugram, affiliated with the CBSE Board.

New start:

• PW said the school will offer primary education, spanning from play school to grade 7, with a curriculum framework grounded in the National Education Policy (NEP) 2020. 
• Founder and CEO Alakh Pandey said that “all-inclusive education, innovation, and culture are the foundational aspects” of the newly launched school that will enrol 400 students in its inaugural batch.
• It aims to cultivate well-rounded students with a focus on financial literacy and entrepreneurship, complemented by initiatives like Model United Nations. 

Women Entrepreneur

The PCOS-friendly Cinnamon Kitchen

In 2018, around 9 years after she was diagnosed with PCOS, Priyasha Saluja started documenting her journey of healthy eating through her Instagram page. She started sharing recipes, healthy eating habits, and lifestyle tips to encourage mindful living, which gained attention. In 2019, she started the D2C brand The Cinnamon Kitchen. 

Clean food:

• The Delhi-based brand claims to offer 100% gluten-free, preservative-free, refined sugar-free, and flour-free, plant-based D2C products. 
• Her packaged food business offers a host of products such as fudge, flourless almond cookies, energy bites, bread, flour, and more. Packed and grocery items cost around Rs 350, and cakes are priced above Rs 1,100.
• The company has recorded Rs 1,40,000 in sales in its first year. The following year, it saw sales to the tune of Rs 12,50,000, and the company is expecting to close this year (FY 2024) with Rs 6 crore sales.

Gulf

Access Indian healthcare services in MENA

India finds itself at the centre of global medical tourism due to its high-quality healthcare services, cost-effective treatment options, skilled professionals, and diverse specialities. In this landscape, Gurugram-based Global Care—founded in 2009 by Rajeev Taneja—is helping patients across the world, especially those from the Middle East and North Africa (MENA), access the best of Indian healthcare services.

Health for all:

• Global Care, with its team of 50, provides tailored patient travel plans, including medical assessments, travel arrangements, and overall patient care, facilitating treatment in India, UAE, and Turkey.
• The company provides a personal assistant for each patient once they reach their medical destination for treatment. It handles over 2,000 medical consultations and 7,000 inquiries per month, of which over 600 are surgical cases and 1,400 are OPD cases.
• It has operations in 25 countries, generating $25 million in annual business and says it has experienced a 130% growth rate in three years.

News & updates

• Discovery: KoBold Metals, a California-based metals exploration company backed by billionaires Bill Gates and Jeff Bezos, said it discovered a vast copper deposit in Zambia. The rare discovery of a large-scale copper deposit could help in the global race to secure a supply of materials critical to the energy transition.
• Acquittal: Samsung Electronics Executive Chairman Jay Y. Lee was declared not guilty on the charge of stock price manipulation and accounting fraud related to the merger of Samsung affiliates in 2015, a South Korean Court ruled on Monday.
• Discount: Yandex N.V., the Dutch parent company of the eponymous Russian internet giant, is selling the last of its remaining Russian businesses at a steep discount, following geopolitical pressures that emerged from Russia’s invasion of Ukraine two years ago.

Which semi-precious stone’s name comes from the Latin word for “sea water”?

Answer: Aquamarine. 

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