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Startup news and updates: daily roundup (April 21, 2023)

Saranya Chakrapani ( )

Red Fort Capital funds Ludhiana-based Pancham Hospitals

Investment platform Red Fort Capital has announced its entry into the Indian healthcare sector by investing in Pancham Hospitals Private Limited, Ludhiana. The funding is expected to provide a significant boost to Pancham Hospital’s expansion plans.

The funding will be utilised to upgrade the hospital’s medical infrastructure, introduce new specialities and technologies, and expand its services to cater to the growing demand for quality and affordable healthcare in the region.

Pancham Hospital, with over 10 years of experience in the healthcare industry, is known for its cardiac sciences healthcare services and is equipped with state-of-the-art medical technology and a highly skilled team of doctors and medical professionals.

Angel One reports data breach

Data Breach

Stockbroking firm Angel One said it received emails on April 20 claiming unauthorised access of its client’s data.

In a letter to the National Stock Exchange and the Department of Corporate Service, BSE, the company alleged that these emails suggest certain client profile data, including names, email, and mobile numbers, and client holding data may have been accessed in an unauthorised manner. 

 “While we are taking relevant action against such unauthorized access, we have verified that such breach does not have any impact on client securities, funds, and credentials, and all client accounts are secure,” Naheed Patel, Company Secretary and Compliance Officer, Angel One, said.

He added that the company deploys 2FA (two-factor authentication) protocol for login and access to all client accounts, including verification by OTP and the client’s M-PIN. 

“Clients’ login credentials are kept encrypted in our systems and have not been compromised. We are working on measures to identify the source of the breach,” he said.

Boson Whitewater, Unnati Foundation to install water ATMs in rural Karnataka

Bengaluru-based Boson Whitewater has partnered with NGO SGBS Unnati Foundation to install water ATMs across villages in Karnataka. ExxonMobil and Broadridge have funded the project under their CSR initiative.

To date, the firms have installed 10 water ATMs in Malur and Doddaballapur villages on the outskirts of Bengaluru, benefitting more than 1,500 families, a statement by Boson Whitewater read.

After assessing the locations proposed by Unnati Foundation, Boson Whitewater installs the water ATMs and provides water ATM cards to the panchayat. Each family is issued a card with Rs 50 preloaded on it, which can be swiped to dispense 20 litres of water. A charge of Rs 5 per 20 litres per can of water is levied.

“At Boson Whitewater, our overarching goal is to use our technology to create easy access to clean water. We look for opportunities like this that allow us to make a huge difference to communities that find it difficult to access clean water,” said Vikas Brahmavar, CEO and Co-founder, Boson Whitewater.

Over the next few months, more water ATMs will be installed across various villages in Karnataka, the press release read.

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

Edited by Suman Singh

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