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upGrad to add 8 new experience centres in Andhra Pradesh, Telangana

Edtech unicorn upGrad is set to launch eight new Offline Experience Centres (OEC) in Andhra Pradesh and Telangana to accelerate its regional penetration in FY24. With six existing touchpoints, upGrad has recorded a 400% increase in counselling sessions during previous January to this year.  

The company’s 35+ pan India centres have dedicated and skilled counsellors/coaches to guide visitors, potential learners and their families through the market trends, explain to them how upskilling could add another layer of expertise, and also address certain other academic and non-academic queries.   

D2C ethnic wear brand Shobitam acquires fashion brand ‘House of Blouse’ 

Global ethnic wear brand Shobitam acquired Indian fashion house brand designing custom and designer blouses, House of Blouse, for an undisclosed sum. With this, Shobitam would be able to expand its product offering and provide customers with the experience world over.

In the future, Shobitam and House of Blouse will aim to expand their presence globally and add more products to their portfolio to create a ethnic brand from India to the world.

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Aparna Thyagrajan and Ambika Thyagrajan, Co-founders, Shobitam

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Y-Combinator, Rapyd Ventures backed Decentro expands to Singapore

Banking and payments platform Decentro has set its foot in the Asia-Pacific region with the commencement of the Singapore operations.

The company has also brought Saksham Shubham, a former Grab senior member and WingPay Chief Business Officer, as Business Head for South East Asia to drive the business operations in the Asia-Pacific region. With over 10 years of experience centered around building brands and businesses from scratch, Saksham has a penchant for understanding businesses, scaling them, and building operationally profitable models.

Decentro has clocked an average of 120 million annualised API transactions across 2022. The platform said it has grown by more than 35x since its seed round in October 2020, with its valuation growing 3.3x. The firm recently closed its Series A funding round of $4.7 million from investors such as Rapyd Ventures, Leonis VC from Europe, and Uncorrelated Ventures based out of California, US. 

Molbio Diagnostics acquires majority stake in Prognosys Medical Systems

Molbio Diagnostics, a unicorn in the medical devices sector and inventor of multi-disease real-time PCR platform Truenat has acquired a 70% stake in Bengaluru-based Prognosys Medical Systems, a manufacturer of the Prorad range of digital X-Ray units and C-arms and developer of a comprehensive digital health platform.

This acquisition further strengthens Molbio’s vision of taking health care to the people and adds one more significant weapon to its armoury to help India and the rest of the world, battle against deadly communicable and non-communicable diseases.

Prognosys builds radiology and fluoroscopy solutions under the brand name PRORAD at its facility based out of Bengaluru.

Molbio and Prognosys are already working together on mobile solutions for end-to-end screening and diagnosis of MTB and e-clinics for delivering comprehensive health care to the last mile.

Tiger Global-backed WoW Momo appoints IFIM alumnus Mithun Appaiah as CEO 

QSR brand WoW Momo Foods has appointed Mithun Appaiah as CEO of its FMCG business. He holds an MBA in Business Administration and Management from IFIM Business School Bangalore.

An FMCG expert in food and beverage industry, Mithun Appaiah has experience spanning across the spectrum of marketing, sales, key account management, customer marketing, business development, SCM, R&D, P&L management, developing new business channels, ecommerce, and startup acceleration.

Over the last two decades, he has worked across verticals with brands like Nestle, UB Group, and Britannia and has also been instrumental in building brands like ID Fresh foods and Sumeru.

In his new role, Mithun Appaiah will use his expertise across brands and roles to build an FMCG vertical with categories across Momo’s, sauces, noodles, beverages, and many more. 

He will also focus on creating a vertical for select global markets where the branded range of WoW would be marketed.

(This article will be updated with the latest news throughout the day.)