Mylo raises $17mn in series led by ITC, W Health Venture, Endiya Partners

 

Blupin Technologies, which claims mother-and child brand Mylo, brought $17 million up in series B drove by W Health Ventures, ITC Ltd, and Eindiya Partners. The financing round likewise saw support from Riverwalk Holdings, Alteria Capital and Innoven Capital.

ITC procured around 10% stake in the Blupin to extend its presence in the mother-and child care section. ITC, in November 2021, declared putting resources into Mother Sparsh Baby Care Private Limited, an ayurvedic and normal individual consideration brand zeroed in on mother and child care.

Mylo has a substance and local area first methodology that goes about as a critical differentiator for the brand. The model spotlights on making a wide scope of helpful substance and computerized wellbeing apparatuses across various life phases of the hopeful and youthful moms, driving local area transformations for its Mylo scope of items and administration.

With a Learn-Share-Buy reasoning, the brand has had the option to drive high commitment among its clients, prompting a solid change to buy and high purchaser maintenance. Till date, the stage has more than 22 lakh questions and 1.6 crore addresses alongside over 3.7 crore content pieces that drive commitment.

Delhi school students pitch ideas to investors at Business Blasters expo

 

It is a warm Saturday spring afternoon, and the air is almost electric at Delhi’s Thyagaraj stadium as queues form outside the gates. The excitement isn’t for a sports event. Those who’ve turned up at the stadium on March 5 are here for a unique expo-style exhibition. Inside is an army of students from Delhi’s government schools. They are here to pitch their ideas to investors and venture capitalists and seek both capital and mentorship. The mega event — the Business Blaster expo — is the next step of Delhi government’s entrepreneurship mindset curriculum, launched in September 2021 wherein some 300,000 students received Rs 2,000 each as seed money to build on their proposed business ideas. Now 775 of those students, split in 126 teams, have made it to the expo in the hope of taking their entrepreneurial dreams to the next level. In a separate meeting room, investors sit down with team leaders of projects they are interested in, working out deals. At the end of the day, 200 Letters of Intent are signed. But first, the investors get a demo on the business ideas. At the end of the hall, a siren goes off from time to time. Turns out the sound is emerging from a stall selling security alarms for home. A few metres away, at Stall No 68, visitors sample a healthy powder made from date seeds but which tastes like coffee. Among them is marketing professional Ritesh Jain, whose mother saw the project on the Business Blasters TV show and was intrigued by the concept. “It seems interesting and I am keen on seeing what their business plan and total addressable market is,” says Jain.

Switzerland votes 'yes' to being for corporate tax home for big business

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Switzerland approved an overhaul of the corporate tax code, choosing to stay an attractive base for companies like Procter & Gamble, Vitol SA and Caterpillar even at the expense of a short-term drop in fiscal revenue.

The change was approved by 66 per cent of voters, according to a projection published by Swiss television SRF. A poll by gfs.bern had suggested it would pass.

The outcome, which ends years of wrangling and a failed attempt at an overhaul two years ago, ensures Switzerland remains a low tax domicile for companies and still is compliant with international rules. The new system will consist of deductions on profit from patents and R&D expenses, to make up for having to get rid of the breaks now accorded multinationals. That’s because they no longer are in line with Organization for Economic Cooperation and Development rules.
A failure to pass the reform could have sparked an exodus of firms to low-tax locales like Ireland or Singapore because in Switzerland they would’ve been taxed at the same rate as local companies — which in Geneva is currently as high as 24.16 per cent.

Chart That could have been devastating for the economy. Multinationals generate about a quarter of employment and a third of gross domestic product, according to a study by McKinsey and industry group SwissHoldings. They also responsible for a big chunk of the federal government’s revenue from taxing firms’ profits.


 Cantons are also taking action on taxation. The cantons of Basel City, home to pharmaceutical giants Novartis and Roche, has lowered its levy on companies, as has the French-speaking canton of Vaud.

China urges US to not go too far in 'damaging moves' against our interests

International News

days after US President Donald Trump signed an executive order barring American companies from installing the foreign-made telecom equipment posing a national security threat, a move apparently aimed at banning Huawei from US networks.

Beijing has warned of retaliation against the order that effectively barred Chinese telecom giant Huawei from the US market.

The world's top two economies are locked in a trade battle that has seen mounting tariffs, sparking fears that the conflict could damage the global economy.

Wang, noting that the US has recently made remarks and taken actions that are harmful to the Chinese interests in various fields including cracking down on Chinese enterprises' normal operations through political measures, said China strongly opposes such actions."We urge the US side not to go too far," he told Pompeo.

History and reality have shown that as two big countries, China and the US will both benefit from cooperation and lose from conflicts, Wang said, adding that cooperation is the only right choice for the two countries.

The two sides should follow the direction set by the two countries' heads of state, manage their differences on the basis of mutual respect, expand cooperation on the basis of mutual benefit, and work together in pushing forward a China-US relationship based on coordination, cooperation and stability, state-run Xinhua news agency quoted Wang as saying.


 China has always been willing to resolve economic and trade differences through negotiations and consultations, which, however, should be conducted on the basis of equality, he said, adding that China, in any negotiations, must safeguard its legitimate interests, answer the calls of its people, and defend the basic norms of international relations.