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IFC backed Global SME Forum awards U GRO Capital 'Financier of the Year for Asia (Silver)' in Cambodia

MUMBAI, India, Sept. 22, 2022 /PRNewswire/ — U GRO Capital was conferred with the silver award in the category of the ‘SME Financier of the Year – Asia entry’ at the coveted Global SME Finance Awards, 2022. The award ceremony was held as a part of the Global SME Finance Forum, organised between 19-21st September in Phnom Penh, Cambodia.

Organized by IFC, a member of the World Bank Group, and the SME Finance Forum, the Global SME Finance Awards, 2022, recognises financial institutions and fintech companies for their outstanding achievements in delivering exceptional products and services to their SME clients. Endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.

Expressing happiness at the recognition, Mr Shachindra Nath, Vice Chairman and Managing Director, U GRO Capital Ltd., remarked, “We appreciate the recognition of our efforts in working towards our mission of ‘serving the underserved’ SME businesses. The digital depth of our foundation, our data-tech prowess combined with our sector specific strategy has helped us focus on growth drivers for our partners and support them. We have a massive task ahead of us and we are confident of leading the transformation we have set out to accomplish of serving the potential of the SME industry. We thank the jury for the encouragement.

The jury at the awards were impressed with U GRO’s business model – in particular, the targeting of specific, SME-heavy sectors, rather than simply trying to engage with SMEs in general. U GRO has leveraged the model to achieve profitability and growth while keeping risk at a manageable level. The jury felt that U GRO could be a significant new player in the SME lending space. The jury also took into account U GRO’s digitalisation journey and efficiency levels. 

U GRO’s submission, which received significant praise from the jury was another factor in the application’s strength. The jury felt that the submission was detailed, thoughtful, and provided a wealth of supporting data. The jury was particularly impressed with the way operating data was presented in the submission. The award testifies to U GRO’s success, which is a result of robust planning and targeted marketing to eight specific sectors and micro enterprises.

About U GRO Capital Limited

U GRO Capital Limited is a Data Tech Lending platform, listed on NSE and BSE. Pursuing its mission of ‘Solving the Unsolved’ for small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach. (NSE: UGROCAP) (BSE: 511742).

The company’s prowess of Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module has uberized intermediated sourcing, GRO Chain is a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream is platform for co-lending, an upstream and downstream integration with fintechs and liability providers and GRO X is an application to deliver embedded financing option to MSMEs.

The credit scoring model, GRO Score (2.0), a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India

U GRO has pioneered the ‘Lending-as-a-Service’ (LaaS) model in India and has effectively operationalized Co-lending relationship with 10+ Large Public Sector Banks and large NBFCs and built a sizeable LaaS book of more than 20% of its AUM through the GRO Xstream platform.

The company is backed by marquee Private Equity funds and family offices (raised INR 900+ Cr of equity capital in 2018) and aims to capture 1% market share and cross INR 20,000 Cr of AUM by FY25.



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Press Release

STL unveils 5G cosmos to help Indian telcos fiberise their networks for 5G

–  Enable Indian Telcos fiberise 5g networks at a fast pace

–  Help create high quality and long-lasting fibre infrastructure for the country

NEW DELHI, Oct. 2, 2022 /PRNewswire/ —  STL (NSE: STLTECH), one of the industry’s leading integrators of digital networks, today unveiled 5G Cosmos – an optical solution for towers and small cells – to lend speed to the 5G rollout.



As India approaches the much-awaited 5G buildouts, telecom operators need to look at fiberisation with a futuristic lens. India’s fiberisation will increase ~3X to 60 Mn fkm annually. Tower and small cell fiberisation will be big drivers. Tower fiberisation must increase from ~35% to ~80% to provide high quality 5G services. Additionally, 5G will require upto 4X small cells, backhauled with fibre.

Despite the intent and capital availability, India’s fibre space is constrained by deployment speed and scale. 5G Cosmos is an Atmanirbhar, patented solution that can solve these challenges and connect every tower, small cell and node. It comprises of:

  1. 5G optical network topology design – The design will deliver a highly competent network with enhanced scalability, bandwidth, and reduced latency
  2. StellarTM Fibre – This bend insensitive fibre, apt for congested 5G topology, minimises data loss and ensures speed through seamless splicing
  3. Celesta intelligently bonded ribbon cables– These high-density cables will reduce installation time and optimise project costs
  4. Plug-and-Play optical devices- STL’s Opto-Bolt and Opto-Blaze offer a pre-connectorised, ruggedised Plug-and-play solution, resulting in faster execution and de-skilling of field installations
  5. Automation-led fibre deployment– This technology-led approach offers backhaul fiberisation using robotics and AI-driven field management systems

Launching 5G Cosmos at IMC 2022, Pankaj Miglani, Director Supply Chain Management, Bharti Airtel, said: “We are readying our infrastructure for 5G and fiberisation is a core need. We are happy to see the use cases that 5G Cosmos can solve for telcos and enable us to deliver a great 5G experience to our customers.”

STL’s Managing Director, Ankit Agarwal, remarked, “Indian telecom operators are ready to install fibre-dense networks for 5G. This will need an integrated and futuristic solution. We have built 5G Cosmos to enable fiberisation of macro and small cells at scale and achieve the full potential of 5G. We wish telecom operators the very best for one of the largest 5G rollouts in the world.”

About STL – Sterlite Technologies Ltd:

STL is an industry-leading integrator of digital networks that helps telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. Read more, Contact us.

stl.tech |Twitter | LinkedIn | YouTube

Photo – https://mma.prnewswire.com/media/1912475/STL.jpg



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STL launches Multiverse – India's first Multicore fibre and cable; aims to revolutionize the optical landscape

-Most advanced optical technology in India

-A game changer for 5G, Quantum Computing and Data Centre connectivity

NEW DELHI, Oct. 2, 2022 /PRNewswire/ — STL (NSE: STLTECH), one of the industry’s leading integrators of digital networks, today launched India’s first Multicore fibre and cable. This breakthrough innovation will change the optical connectivity landscape of India.

This has been conceptualised and developed indigenously at STL’s Centre of Excellence in Maharashtra with top interdisciplinary R&D experts. STL’s Multiverse leverages Space Division Multiplexing to gain 4X transmission capacity per fibre, within the same diameter.

Speaking at the launch, Randeep Sekhon, CTO, Bharti Airtel, said: “I am excited to see this optical fibre innovation from a homegrown company. STL’s Multiverse fibre and cable will enable 4X capacity and play a vital role in 5G scale-up. I wish STL all the very best for their efforts towards supporting network build outs.”

 STL Multiverse offers features that can revolutionise connectivity for network builders:

  • High capacity per 5G cell site – It’s now possible to connect multiple radio heads through a single Multicore fibre and reduce the cabling footprint for 5G networks
  • Quad-core fibre connectivity in data centres -Today most advanced fibre cables have ~7000 cores. This advancement takes it upto ~28000 cores, thereby powering connectivity for warehouse-scale computing
  • Quantum communication feasibility – The growth of quantum communication is expected to support the co-existence of quantum communication and telecommunication channels. Multicore fibre offers exciting possibilities in this emerging area.
  • Carbon footprint reduction – This greenest-ever optical fibre reduces cable surface area by ~75% and plastic in the ground by ~10%

Commenting on the launch, Dr Badri Gomatam, CTO, STL, said, “We have been doing deep research on optical fibre for over 15 years. In the last three years, we have been able to excel in Multicore technology and indigenously developed this product. We are proud to be the first in India to launch this. STL’s Multiverse will revolutionise 5G and data center connectivity, actualise quantum computing at scale and make the internet greener.”

About STL – Sterlite Technologies Ltd:

STL is an industry-leading integrator of digital networks that helps telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. Read more, Contact us.

stl.tech |Twitter | LinkedIn | YouTube

Photo – https://mma.prnewswire.com/media/1912473/STL.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/stl-launches-multiverse—indias-first-multicore-fibre-and-cable-aims-to-revolutionize-the-optical-landscape-301638413.html



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IIIT Hyderabad and Silicon Labs Launch Campus-wide Wi-SUN Network for Smart City Applications

New Smart City Living Lab initiative to enable research and innovation in this emerging IOT communication standard

HYDERABAD, India, Oct. 1, 2022 /PRNewswire/ — IIITH Smart City Living Lab in partnership with Silicon Labs, a leader in secure, intelligent wireless technology, today launched a campus-wide Wi-SUN network to enable research and solutions for the Internet of Things (IoT) and smart cities. Wi-SUN is an open-standard protocol enabling interoperable solutions through open source software with multi-layer security. Wi-SUN will enable utilities, municipalities, and other enterprises to deploy long-range, low-power wireless mesh networks connecting thousands of IoT nodes.

IIITH Smart City Living Lab is setup as an initiative of MEITY (Ministry of Electronics & IT) , National Cities Mission, and Gov of Telangana, with knowledge support from EBTC (European Business Technology Council). Silicon Labs, Intel, and Saint Gobain are the other three founding corporate partners. Professor Ramesh Loganathan said, “The Smart City Living Lab, a year old now,  is already a testbed for various start-ups and research. IIITH’s campus consists of sensor networks monitoring different verticals such as water, energy, air pollution, solar generation, etc. as well as a strong standards based data network”.

The Wi-SUN network will add to the existing modes of sensor communications including Wi-Fi and LORA. Wi-SUN needs no towers or expensive communications infrastructure, and allows sensors to connect easily to the cloud. The  project at IIITH will convert all 100 streetlights on campus to Wi-SUN smart streetlights, to build a dense and steady network to allow other sensors such as energy meters, indoor deployments etc., anywhere on campus to utilize these lights as router nodes to send sensor data. 

“Industry-academia partnerships, like the Smart City Living Lab are critical to the growth of the IoT in India,” said Ross Sabolcik, SVP of Industrial and Commercial at Silicon Labs. “Together, we can solve some of the country’s most complex challenges and improve quality of life for all with wireless connectivity. This Wi-SUN network launch is an important milestone that will be the foundation for future smart city applications.”

This project is the foundation for future research study into the Wi-SUN network and will also include challenges for start-ups to build solutions for smart cities using the Wi-SUN network to help take smart city innovations to cost-effective deployment. 

About IIIT-Hyderabad: The International Institute of Information Technology, Hyderabad (IIIT-H) is an autonomous research university founded in 1998 that focuses on the core areas of Information Technology, such as Computer Science, Electronics and Communications, and their applications in other domains through inter-disciplinary research that has a greater social impact. Some of its research domains include Visual Information Technologies, Human Language Technologies, Data Engineering, VLSI and Embedded Systems, Computer Architecture, Wireless Communications, Algorithms and Information Security, Robotics, Building Science, Earthquake Engineering, Cognitive Science, Computational Natural Sciences and Bioinformatics, Education Technologies, Power Systems, IT in Agriculture and e-Governance.

Website: www.iiit.ac.in

About Silicon Labs: Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Their integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make them an ideal long-term partner in building advanced industrial, commercial, home, and life applications. Silicon Labs makes it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. Silicon Labs is headquartered in Austin, Texas with its largest wireless development centre in Hyderabad, India. 

Logo – https://mma.prnewswire.com/media/1900509/IIITH_Logo.jpg



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