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Byju’s-owned Aakash Educational Services appoints Deepak Mehrotra as MD, CEO

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New Delhi, April 8 (IANS) Aakash Educational Services, owned by Byju’s, has appointed former Pearson India executive, Deepak Mehrotra, as its Managing Director and CEO, effective immediately, the company said on Monday.

Mehrotra has more than 35 years of experience in top roles in sectors like FMCG, telecom and education industries.

“In his role as CEO, he (Mehrotra) will be responsible to deliver on our aggressive growth plan and to build on the significant momentum the company is currently experiencing,” according to Byju Raveendran, Co-founder and CEO, Byju’s.

Mehrotra has a Bachelor’s degree in Electrical Engineering from IIT Roorkee, an MMS from JBIMS, and has completed an Executive programme from The Wharton School, Philadelphia, US.

“His strategic vision and proven operational expertise will be instrumental in solidifying our position as an industry leader,” said Shailesh Haribhakti, the Chairman of AESL (Aakash Educational Services Limited).

The appointment comes almost seven months after CEO Abhishek Maheshwari and CFO Vipan Joshi had quit the leading test preparation company amid a shareholder tussle.

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Before Aakash, Mehrotra was the Managing Director of Ashirvad Pipes, and also worked with Bharti Airtel and Coca-Cola, among other companies.

There were reports earlier that Aakash Chaudhry, the promoter of Aakash Educational Services, will return as Aakash’s CEO but the talks did not materialise.

Byju’s had acquired Aakash Educational Services for almost $1 billion in 2021 in an equity and cash deal.

In June 2023, the edtech company had said that Aakash would go public later this year.

–IANS

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Private data of 2,900 people leaked after TAG Heuer hacked

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Seoul, June 16 (IANS) Private data of some 2,900 South Korean customers was leaked after TAG Heuer, owned by luxury goods giant LVMH, was hacked, an official at South Korea’s Personal Information Protection Commission said on Sunday.

The incident took place between 2019 and 2020, when the watchmaker renovated its website but came under a cyberattack, according to the commission.

TAG Heuer belatedly reported the case to the commission after becoming aware of the attack when the hacker blackmailed the company in May last year, reports Yonhap news agency.

The commission ordered TAG Heuer to pay 126 million won ($90,712) as a financial penalty over the case and 7.8 million won as a fine for belatedly reporting the case in a closed-door meeting in February.

A commission official said South Korea was the first country to impose a penalty on the company.

–IANS

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India produced over 40 quantum technology startups in 2 years: Jitendra Singh

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New Delhi, June 15 (IANS) India has produced over 40 quantum technology startups in two years, few of them with global potential, Union Minister of State (Independent Charge) for Science and Technology, Jitendra Singh, said on Saturday.

The minister directed officials to focus on the flagship National Quantum Mission and work on the development of quantum technologies and quantum communication.

“India is currently on an equal pedestal with other nations in terms of quantum technologies,” the minister said, adding that our mission should be to establish India as a global leader in quantum technologies.

He shared the success story of ‘QuNu Labs’, a Bengaluru-based startup incubated by IIT Madras.

The startup recently signed an MoU with the Technology Development Board (TDB) for the development of security products based on quantum technologies.

The minister also said that women’s participation in research and development (R&D) has doubled in the last 10 years.

Going further, nearly 300 women scientists are going to receive research grants for three years from the government under the ‘ASPIRE’ scheme, he mentioned.

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“Prime Minister Narendra Modi’s resolve to empower and provide ease of living to the last man standing should be the aim of our innovation,” the Minister noted.

–IANS

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Will work hard to provide an ideal life for elderly, disabled: Rural Development Minister

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New Delhi, June 15 (IANS) In order to provide an ideal life for the elderly, widows and the disabled, if there is a need to change the rules and regulations of the scheme, then amendments should also be made, Union Rural Development Minister Shivraj Singh Chouhan has said.

In a meeting on the action plan for the next 100 days of various schemes of the ministry, the Minister emphasised implementing the action plan in a strong and effective manner.

“We all have to work together with full strength on every scheme of rural development, only then Prime Minister Narendra Modi’s dream of a developed India will be fulfilled,” said Minister Chouhan.

While discussing the National Social Assistance Programme (NSAP), the minister mentioned that we have to structure the project for an ideal life for the elderly, widows and the disabled, “for which we have to take every problem seriously”.

Emphasising the importance of District Development Coordination and Monitoring Committees (DISHA), the minister said there is a need to strengthen the Disha Committees further.

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The minister said he would write a letter to all the newly-elected MPs to request them to ensure that the meetings of the Disha Committees are held on time.

On Thursday, Minister Chouhan told officials to work towards achieving the target of creating three crore Lakhpati Didis in villages ahead of the three-year deadline as part of a stepped-up action plan.

–IANS

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Delhi-NCR doctors treat life-threatening brain aneurysm condition with novel technique

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New Delhi, June 15 (IANS) A novel non-invasive technique has saved the life of a 55-year-old patient in Delhi-NCR who was suffering from a life-threatening ruptured brain aneurysm condition, a team of doctors said on Saturday.

The aneurysm had caused a massive brain hemorrhage, leading to severe headaches and episodes of vomiting, in the patient named C. G. Ramesh.

Doctors at Fortis Hospital in Greater Noida successfully treated him with a non-invasive technique called ‘Neuro-intervention aneurysm coiling’.

“We employed a unique modification of the traditional technique known as Neuro-intervention aneurysm coiling, not widely practiced in many centers in Delhi-NCR,” said Prashant Agarwal, consultant neurosurgeon.

Using an advanced catheter inserted through the blood vessels, the team achieved near-complete occlusion of the aneurysm without any incisions or stitches on the patient’s skull.

This minimally invasive endovascular approach not only sealed the weakened area but also significantly reduced the risk of further bleeding, said doctors.

“This procedure offers minimal risk and complications, both during and after the operation, leading to swift and effective patient recovery,” Agarwal added.

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This innovation is particularly beneficial for patients over 50 who may be hesitant about open brain surgery.

While the exact cause of brain aneurysms is unclear, individuals with a history of hypertension and smoking are at higher risk.

“Although more common in older individuals, we are seeing cases in patients as young as their early 30s,” said doctors.

They said that Ramesh has made a full recovery, resuming daily activities without any recurring symptoms of headache or vomiting.

–IANS

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Indian startups raise $202 million, over 100 pc jump from last week

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New Delhi, June 15 (IANS) The fundraising by the Indian startup ecosystem reclaimed its upward trend this week with nearly $202 billion via 21 deals.

This is a massive over 100 per cent rise from last week when the startups secured about $98 million in 10 deals.

Cleantech startups maintained the lead, with EV startup Battery Smart raising $65 million led by LeapFrog Investments.

The equity round saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment.

Direct-to-consumer (D2C) skincare firm Foxtale raised $18 million in a round led by Singapore-based Panthera Growth Partners.

Another beauty and makeup brand, Renee Cosmetics, raised Rs 100 crore (around $12 million) in a Series B funding round led by existing investors Evolvence India and Edelweiss Group. The current funds were raised at a valuation of Rs 1,200-1,400 crore.

In another major news, quick grocery delivery platform Zepto is set to raise nearly $650 million from existing and new investors. According to sources, the funding will take the valuation of Blinkit’s closest rival to around $3.5 billion.

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Zepto recently said that it plans to go public in the next 2-3 years.

–IANS

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