Now, an Algorithm to Teach Robots How to Behave Like a Human in Certain Situations

Scientists have developed a new machine-learning algorithm to help robots display appropriate social behaviour in interactions with humans.

Advances in artificial intelligence (AI) are making virtual and robotic assistants increasingly capable in performing complex tasks, researchers said.

For these “smart” machines to be considered safe and trustworthy collaborators with human partners, however, robots must be able to quickly assess a given situation and apply human social norms, they said.

Now, researchers at Brown University and Tufts University in the US have created a cognitive-computational model of human norms in a representation that can be coded into machines.

They developed a machine-learning algorithm that allows machines to learn norms in unfamiliar situations drawing on human data.

The project funded by the US Defence Advanced Research Projects Agency (DARPA) represents important progress towards the development of AI systems that can “intuit” how to behave in certain situations in much the way people do.

Now, an Algorithm to Teach Robots How to Behave Like a Human in Certain Situations

“The goal of this research effort was to understand and formalise human normative systems and how they guide human behaviour, so that we can set guidelines for how to design next-generation AI machines that are able to help and interact effectively with humans,” said Reza Ghanadan, DARPA programme manager.
As an example in which humans intuitively apply social norms of behaviour, consider a situation in which a cell phone rings in a quiet library, researchers said.

A person receiving that call would quickly try to silence the distracting phone, and whisper into the phone before going outside to continue the call in a normal voice.

Today, an AI phone-answering system would not automatically respond with that kind of social sensitivity. “We do not currently know how to incorporate meaningful norm processing into effective computational architectures,” Ghanadan said, adding that social and ethical norms have a number of properties that make them uniquely challenging.

Ultimately, for a robot to become social or perhaps even ethical, it will need to have a capacity to learn, represent, activate, and apply a large number of norms that people in a given society expect one another to obey, Ghanadan said.

That task will prove far more complicated than teaching AI systems rules for simpler tasks such as tagging pictures, detecting spam, or guiding people through their tax returns.

However, by providing a framework for developing and testing such complex algorithms, the new

The Roomba Creator’s New Robot Automatically Weeds Your Garden

When iRobot’s Roomba was introduced in 2002, it looked like humanity’s first step into living like The Jetsons. People couldn’t believe that for a few hundred bucks you could buy a robot that would vacuum your floors. After the Roomba’s success, its creator, Joe Jones, would invent iRobot’s Scooba, and his new start-up has just changed gardening with the Tertill.
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The Tertill is essentially a Roomba that lives in gardens and automatically cuts the weeds. It’s solar-powered and relies on capacitive sensors to navigate around garden obstacles. Its sensors can also identify weeds, activating a mini weed whacker to chop them down. The Tertill is currently available on Kickstarter for $249 and will ship to supporters in May 2018.

The Tertill is part of Jones’s larger goal to create robots that can automatically weed farms without the need for dangerous herbicides. Jones believes that robot technology will eventually increase agricultural efficiency and help eliminate global food shortages as well. But for now, the Tertill is a great way for people to save their backs and knees from the rigors of bending over in the garden.

AgriTech In India: How Startups Are Changing The Face Of Indian Agriculture

India holds the record for the second-largest agricultural land in the world, with around 60% rural Indian households making their living from agriculture thus creating a huge scope for agritech startups in the country.

The central and state governments are proactively pursuing policies to improve farmers’ lives in India. In fact, PM Modi’s government has an aim to double the average farmer’s income by 2022. But is enough being done to remove inefficiencies in the agricultural supply chain to make Indian agritech a lucrative investment opportunity?

We, at Inc42, have taken up the onus to promote and spread awareness about agritech in India. To this end, our first step was hosting an AgriTech Investors Roundtable on 25 May 2017 in Delhi. The purpose of the roundtable was to discuss the challenges and opportunity in the Agriculture sector in India and also to launch a report on – The State Of Indian AgriTech – 2017.Image result for AgriTech In India: How Startups Are Changing The Face Of Indian Agriculture

The report was launched in the presence of Vikram Gupta, Managing Partner, IvyCap Ventures; Ravinder Singh Saini, Principal Consultant of National Productivity Council; Adhir Jha, MD and CEO India Sugar Exim Corporation (ISEC); Ritu Verma, co-founder and Managing Director, Ankur Capital; Hemendra Mathur, Venture Partner, Bharat Innovations Fund; Akash Rukhaiyar, an ex-CFO and investor and Shamit Ghosh.

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The State Of Agriculture In India

Agriculture, along with fisheries and forestry, is one of the largest contributors to the Indian Gross Domestic Product (GDP). The GDP of agriculture and allied sectors in India was recorded at $244.74 Bn in FY ‘16.

  1. At 157.35 Mn hectares, India holds the second-largest agricultural land in the world.
  2. There has been an increased focus on investments in agricultural infrastructures such as irrigation facilities, warehousing, and cold storage.
  3. New schemes such as Paramparagat Krishi Vikas Yojana, Pradhanmantri Gram Sinchai Yojana, and Sansad Adarsh Gram Yojana have been introduced to improve farmers’ fortunes and other facilities which could boost agriculture in India.

Agriculture In India: Challenges

A drop in landholdings (average 1.4 hectares), small and fragmented land holdings, a decreasing agricultural land versus a growing population, decreasing groundwater levels, poor quality of seeds, lack of mechanisation, low yield per unit crop and a dependence on middlemen are some of the challenges for the growth of agriculture in India.

Added to that, an absence of an organised marketing structure for produce, malpractices in the existing unorganised agricultural markets, inadequate facilities for transportation and storage, scarcity of credit, and limited access to superior technology to get timely information are some of the many afflictions which obstruct the Indian agricultural sector.

Opportunities For AgriTech Startups

Opportunities lie in areas like how to increase crop production, improving the nutritional value of the crops, reduction in input prices for farmers, improving the overall process-driven supply chain, reducing wastage in the distribution system, making easy farm mechanisation available, and enabling connectivity of farmers with the masses by interlinking the consumer and producer.  

AgriTech startups are also leveraging technology in the area of market linkages such as retail, B2C and B2B marketplaces and digital agronomy platforms. AgriTech startups are now able to address input challenges of agriculture in India from the very beginning. They are able to provide correct information, techniques, and efficiencies to farmers both for pre-harvest applications and post-harvest use cases.

AgriTech Funding In India

According to the latest report, for 2016, over $3.23 Bn was invested in agriculture sector worldwide. Of this, 53 Indian agritech startups raised $313 Mn. Globally, category-wise, 40% of the total funding ($1.29 Bn) was invested in food marketplaces or the food ecommerce category, followed by biotechnology startups which garnered 22% of the funding ($719 Mn). Investment in precision agriculture technologies, which include data-capturing devices and farm management software, came third at $405 Mn, while investment in Novel Farming Systems, which are startups using new and innovative ways to produce agricultural and biological products, was the fourth category wherein funding flowed ($247 Mn).

Conclusion

Demand-side drivers such as population growth, rising income levels leading to increasing consumption, and increasing exports favour the growth of agriculture in India. More so, policy support from the government such as increasing MSPs, increasing crop insurance support, the introduction of various schemes to facilitate farmers, initiatives to bolster easy credit to farmers will also increase growth. The need of the hour is for all stakeholders – from governments to agritech startups to investors – to come together in harnessing the opportunity to transform this sector. Mostly, government policies treat agriculture as a poverty alleviation method but the focus should be on enhancing productivity and raising incomes. The impetus should be on the application of technology to lower challenges on the input side right from planting to irritating to harvesting and finally selling.

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The report launch was followed by two-panel discussions centred on the theme that the agriculture value chain requires disruption and innovation to tackle inefficiencies – which would most likely come from tech-driven startups rather than the traditional agriculture players in India.

The first panel comprising Vikram Gupta, Ravinder Singh Saini, Adhir Jha, and Akash Rukhaiyar was moderated by Shamit Ghosh. The panel examined if the agritech opportunity is a hidden opportunity or mere hype.

AgriTech – A Hidden Opportunity Or Hype?

On this, Vikram Gupta stated that the size of the opportunity is quite large. He said, “From an investor’s perspective, investors are looking for four-five years’ kind of timeframe for returns. We are looking for asset-light opportunities, where you can use technology to scale up businesses. One of them is information technology – which farmers can leverage to take mission-critical decisions.”

Vikram noted that while it’s challenging to monetise these products, there are interesting models which are being monetised, and farmers are willing to pay for them. However, he pointed out that when it comes to the other part of technology such as farm mechanisation, India is lagging.

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He said, “Despite India having one of the highest productive agricultural land in the world, its share of sales in the mechanised products sold by top Fortune 100 farm companies in the world is less than 5%.” This is where he believed an opportunity exists for startups.

Taking the discussion further on the same tangent, Adhir Jha stated that since average landholding size of farmers is small, many mechanisation technologies are beyond the means of farmers. He said, “Hence, startups need to come up with technologies which can be leased to farmers for a period of time to but whose maintenance rests majorly with startups.”

He also added that since it takes time for farmers to develop confidence in agritech extension activities, patience will have to be a key factor here. “So, as an investor, you have to be in here for the long haul. You might see a negative impact in the first four or five years and then the model might turn around.”

AgriTech – An Investor’s Perspective

The second-panel discussion centred on exploring the investors’ perspective in detail –why investors who have invested in the sector continue to bet on it, what would make investors who don’t invest in agritech currently explore it proactively, and trends to watch out for in this space.

This panel consisted of Ritu Verma, co-founder and Managing Director, Ankur Capital, Hemendra Mathur, Venture Partner, Bharat Innovations Fund, and Vikram Gupta of IvyCap Ventures.

On being questioned as to what made Ankur Capital invest in agriculture, Ritu replied the fact that the section is associated with the fundamental act of eating, coupled with the drive to engage with the backend of delivery of food, as demands and habits change was the main driver for investment.

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Speaking on if the opportunity is viable, Hemendra Mathur stated, “The size of the opportunity is a key factor as well as the demand. If you look at the last 10 years, why VC investment has picked up is because some bit of inflection point was there when per capita income of Indians increased. This resulted in shifts in demand habits in food in India in 2013.  And that is reflected in the balance sheet of the food sectors. It’s not that we are eating more, but more consumers are willing to buy good quality food. So, that’s a reason for sudden VC interest in the last few years in agriculture.”

He also added that another reason is that it is a very defensible sector, given that food is the last thing one cuts out even when the economy goes down.

The investors also discussed that technology will help lower costs for farmers. Thus, what startups have to do is build the cost value proposition for the farmer. Hemendra aptly stated, “And viability cannot come alone from the farmer but from the entire ecosystem on the supply chain, who can make business models viable.”

For encouraging more funds to flow into the sector, Vikram believed that the government should get incentives to funds who invest in agriculture, its sub-sectors, and in remote areas. He stated that general education and awareness at the grassroots level is missing and the government has to play a huge role in informing farmers about the opportunities available – be it credit or technologies.

For startups looking to enter the sector, Hemendra added that the top three opportunities lay in capturing real-time data, image analytics, and technology for soil scanning. He explained, “With satellite imagery, you can tell at sowing stage, what is going to be the potential yield. So, once it reaches a point where demand supply is matching, the government can issue an advisory. These measures would help farmers to avoid excess sowing, manage supply so that prices don’t crash.”

Vikram aptly summed up the discussion stating, “The Uberisation of Indian agritech startups is just waiting to happen. The inflection point is around the corner.”

The session concluded with a presentation from Jukka Peuranpää, CEO, Agroy and a former farmer. Agroy has made giant strides in terms of making its presence felt in the US and now with aims to plant its flag in India.

How FinTech Startups Are Transforming The Way Banks Function In Indonesia

Fintech startups in Indonesia have initiated a revolution the way financial institutions including banks in the country work. The fintech landscape of Indonesia has more or less followed the trajectory of the revolution India witnessed last year.

India, November 2016. PM Modi launched a demonetisation drive to eradicate black money, fostering a new wave of digitisation in India. Consequently, there was a tremendous rise in the adoption of e-wallets, launch of new fintech startups, and the average Indian became familiar with a new financial entity, bitcoin. With huge sums being invested in the segment, Fintech became the frontrunner of the Indian startup ecosystem.

From local grocery shops to petrol pumps to movie theatres, digital wallets have captured each and every day-to-day business which requires payments. Not only this, digital wallets have even seen a massive adoption for payment chores like booking air tickets or buying movie tickets or paying bills (DTH, Water, Electricity). In a nutshell, India is poised towards fintech revolution – thanks to the rise of digital wallets, UPI coming into the picture and of course, companies launching payment banks.

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This is what fintech does: it disrupts the traditional and welcomes the future. It’s not just about innovation and technology, it is also about financial inclusivity, and India is moving towards that.

Coming to Indonesia, there are more than 150 fintech startups in Indonesia and this number has increased by a whopping 78% from 2015, according to the Indonesia Fintech report 2016. Quite similar to the India story, not in context to numbers but the growth percentage. India recorded $1.77 Bn in FinTech investments between 2014 and 2015 through a total of 158 deals, according to Inc42’s FinTech Market Report 2014-2016. The average deal size was $9.82 Mn.

All of this has happened in the last couple years. So when we ask ourselves how? The answer is simple: when technology meets innovation, disruption happens.

The Present Indonesian Financial Ecosystem

With a population of more than 250 Mn and a consistent growth in the annual gross domestic product (GDP), Indonesia has emerged as Southeast Asia’s trojan horse, as the next big land of opportunity.

Fintech today is a coveted space in Indonesia. Investments are booming, sectors are expanding, various avenues are being explored and new products are being launched. Be it digital payments, online lending, or remote banking, Indonesia has seen a surge of startups that have developed products to solve the current needs of the population.

At the same time, the country remains a challenging market for fintech industry to grow with only 40% of adults in the country having access to banks. 49 Mn SMEs unit are still not bankable, because of low credit score and little or no financial history. So how does one understand this industry?

Why Indonesia Needs Fintech

Businesses are essentially established to solve consumers’ needs. Fintech in Indonesia has followed the same pattern. To begin with, a vast majority of the Indonesian population is doesn’t have access to banks. It is estimated that only 40% of Indonesia’s 250 Mn population currently have access to services provided by banks. This impressed the need to develop alternative banking systems that could provide users with new and effective ways of banking.

Adds Kaustav Ghosh, Product Evangelist, MatchMove, “Like other similar markets, Indonesia has historically been relatively low on banking penetration. At the same time, it has seen a vibrant prepaid airtime and utility payments culture, a robust prepaid cards business base and a very creative entrepreneur class. Banks themselves have proven that they are innovative. While it may be little appreciated elsewhere, Indonesia has a very large informal economy and the many small businesses drive a lot of demand for services and new concepts. It has helped that the regulator has been progressive and abreast of global developments. Indonesia also has strong domestic brands emerging out of a native start-up culture. All this has been fertile ground for fintech.”

Secondly, Indonesia is a country of SMBs. These enterprises account for 99% of the total amount of enterprises that are operating in Indonesia and they create a total of 107.6 Mn jobs in Southeast Asia’s largest emerging economy, as per a Deloitte report. Moreover, Indonesia’s micro, small, and medium-sized companies contribute 60.6 % to Indonesia’s gross domestic product (GDP). In fact, they cushion the country’s economy in times of shocks. However, the majority of these companies do not pay taxes, while most workers belong to the informal sector.

Says Piotr Jakubowski, CMO of Indonesian ride-hailing giant Go-Jek, “One of the most fascinating challenges in Indonesia which contributes to the large population not having access to banks (60%+) is due to the fact that the country is the world’s largest archipelago. The size and the nature of the country simply does not allow traditional financial systems to scale and cover everything. For example, one of the state banks in Indonesia has actually transformed small boats into branches that can reach consumers in even the most remote areas. By breaking down the barriers of location, the emerging players provide an opportunity to this large population which doesn’t has access to banks to join the digital economy and drive its growth.” (bq)

In order to accelerate their growth, the SMEs need funding, yet many of them do not have the necessary financial history nor collateral to secure loans from banks. The sector is still largely unorganised, thereby struggling to maintain even basic workflow requirements, in terms of capital access. Lack of credit history, collateral, and accounting discipline, further mars these small-time businessmen’s capacity to procure funds from sources other than shady money lenders and friends and family – giving rise to the need and a largely untapped market for alternative lending and credit platforms.

Thirdly, due to Indonesia’s peculiar geography, its traditional banking system suffers. The number of bank branches, which is estimated at 10 banks (branches)  per 1,000 square kilometers is far too low to serve Indonesia’s vast geography. The fact that there are remote and inaccessible areas in the country poses an even greater challenge for banks’ penetration, which gives birth to the need of online and remotely accessible institutions that can facilitate these financial needs.

Breaking Down The Indonesian Fintech Pie

Bank of Indonesia defines fintech as: “A phenomenon of fusion between technology and financial features that transform business models and a weak barrier to entry which lead to raises unregulated players to run the service as well as regulated financial institutions.”

As highlighted above, the country has seen a major surge in the number of fintech ventures. The major areas that startups are capturing and disrupting are payments, insurance, stock markets, investments, PoS, comparison, and online lending. The clear winner is digital payments, prompted by the fact that the internet and consumption patterns are changing. Major startups in the payments sector include Mandiri, T-Cash, PayPro, IPayMu, Xenditi among others.

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Digital payments have become so big in the archipelago that the total transaction value in the “Digital Payments” segment amounts to $18 Mn in 2017. Additionally, the total transaction value is expected to show an annual growth rate (CAGR 2017-2021) of 18.4 %, resulting in the total amount of $36 Mn in 2021. Popular fintech categories in Indonesia are lending platforms, capturing 17% and marketplaces for financial products that have occupied 13%.

Says Sebastian Togelang, founding partner, Kejora Ventures, “Fintech is the hottest space in Indonesia right now. Everyone, be it founders and VCs are running towards capturing the opportunity. We might also see a lot of funding and consolidation in the space, in the coming times.”

When it comes to its potential as a market for Internet-based services, the numbers seem to bear great promises for Indonesian market. Internet users in the country had exceeded 100 Mn, with over 326 Mn mobile subscriptions — or roughly 34% of its total population. The emergence of new players led to the establishment of Indonesia Fintech Association in September 2015.

A report by Daily Social and Fintech Indonesia says that Indonesia has entered the Fintech 3.0 stage, where innovation is championed by startups instead of financial institutions as in Fintech 2.0 stage, or a joint venture of financial institutions and tech companies in Fintech 2.5.

The digital payments sector has emerged as the clear winner since the IFA data shows that around 43% of startups of the fintech pie belong to that segment. They are majorly spread across payments sector, from mobile payment to payment gateway companies etc. Suffice to say, ecommerce has been the biggest push factor for the same because, with the shifting consumption patterns, it led to the growth of payment avenues where one could complete their financial transactions with the ease of a click. For people to shop online, you have to make it really easy for them to pay.

Echoing the same, Chiragh Kirpalani, founder of digital payments platform Ayopop which recently secured funding says “Digital payments currently is still under the closed-loop model. Where each startup has either their own internal wallet or store credits and can only be used with-in their own services offered. The market is starting to evolve and startups are in merchant acquisition mode at this point. From what I see, the first few sectors that will start to have “Pay Via XYZ Wallet / Brand” is going to be online ecommerce, followed by the F&B sector and then comes Entertainment (theme parks, cinema Chains, Karaoke Chains, etc).”

Payment also has many subcategories. -whether it is making it easier to pay for online goods with cash; to focussing on the cards people already have in their pockets. There are certain players that are working towards linking existing transaction terminals like ATMs or online banking with online shopping, while others want to convince users to store value in digital wallets.

Fintech Startups That Are Paving The Way

While the Indonesian fintech industry has seen the entry of various players, here’s a consolidated view of the ones that have led the way with their disruptive technologies:

fintech-indonesia-banks-startups

Deposits, Lending, And Capital Raising

Startups under this category allow users to obtain loans or funds for numerous purposes such as for business, social project and marriage. Both crowdfunding and peer-to-peer lending technologies fall into this category. The online lending space is dominated by players included Modalku, Taralite, and Investree. The online lending segment has a huge market demand in the country, owing to the fact that a major population of the country has a low credit score and SMEs can benefit from these alternative services.

fintech-indonesiaTaralite: Launched in 2016, the startup sanctions financial loans with relatively low interest, starting from 1%, for education, marriage, childbirth, house renovation, vehicle purchase, property & housing. It also provides loans without collateral. It recently secured $6.3 Mn from Japanese financial services provider, SBI Group.

fintech-indonesiaMODALKU: Founded in 2016, it is an online lending platform, that provides loans up to IDR. 2 Bn, with relatively affordable interest. Its focus areas are SMEs looking for working capital, with minimum one year of operations. It raised $7.5 Mn in its Series A round of funding from Sequoia in August 2016.

fintech-indonesiaInvestree: Launched in 2015, Investree has a peer-to-peer (P2P) lending platform that connects people who want to invest money with people who want to borrow money. Investree administers the lending process by verifying borrower’s creditworthiness, facilitating the fund between borrower and investors, and documenting legal loan agreement. In June, it secured the commitment of a Series A round of funding from Kejora Ventures.

fintech-indonesiaKitabisa.com: A social crowdfunding platform where, individuals can use it to initiate campaigns and donations, as well as view and choose the campaigns to which they can donate.

Market Provisioning

Under this category, startups function as resource books to anyone entering a potential fintech market. They provide users with relevant data, assistance, and guidance regarding various markets.

fintech-indonesiaCekaja.com: Launched in 2013, the platform allows users to compare various financial products at one place. The products include but are not limited to vehicle and health insurances, credit cards, housing loans, Internet and cable TV packages, and SME loans. It secured Series B funding in October 2016.

fintech-indonesiaTaniHub: Tanihub is an ecommerce platform that connects farmers and buyers and eliminates the need for middlemen.

Investment & Risk Management

Startups functioning in the automated processing, dissemination of investment, and risk management advice for individuals and companies fall under this particular sub-category.

fintech-indonesiaJOJONOMIC: JOJONOMIC digitises the entire employee reimbursement process for an employee. Launched in 2015, the startup offers an application-based reimbursement system to minimise the company’s miscalculation risk and accelerates the reimbursement processes. It raised $1.5 Mn in its Series A round, in September 2016.

fintech-indonesiaRajaPremi:  Founded in 2014, RajaPremi is an online insurance marketplace. It enables users to select various insurance programmes, compare them at a single place, and finally purchase the most suitable insurance. It secured undisclosed funding in 2015.

fintech-indonesiaBareksa: Founded in 2016, it is an online and integrated marketplace for mutual funds. It makes investing in mutual funds easier, by providing the necessary options, tutorials, and tools for mutual funds investments. The startup secured undisclosed amount in funding in April this year.

Digital Payments

This category introduces customers to novel ways of both online and offline payments, and other related opportunities in regards to payments.

Kudo: Launched in 2014, the startup has a website and a mobile application that enables anyone to be an online entrepreneur without having to personally stock the items. Verified sellers or ‘agents’ are free to choose from roughly three million types of products to be sold. Buyers will pick their products, contact the respective agents and agree on the payment method. It was acquired by ride sharing platform Grab in February this year.

DOKU:  A 2007 founded startup, Doku is the biggest player in the Indonesian payments scene. Functioning as an online and offline payment gateway for businesses and individuals, DOKU is an e-wallet equipped with links to credit card and electronic money. It functions like Paytm and users can also be used to send money to offline retailers registered on the network.

fintech-indonesiat-cash: Founded in 2011, it is an electronic money service provided by Telkomsel (a telecom giant). Users are required to install the T-Wallet app on their mobiles and equip their mobiles with the t-cash stickers. The stickers are to be scanned at merchants with t-cash scanning machines upon payment. Other forms of payments such as utility bills, train tickets, and concert tickets can also be done using the app.

fintech-indonesiaAyopop: Launched in 2016, Ayopop is an app that specialises in bill payments. In other words, it enables users to pay for things like their phone bills, electricity, and Internet services through its app. The startup secured funding earlier this year from GREE Ventures.

POS (Point-Of-Sales Startups)

fintech-indonesiaPawoon: Launched in 2013, Pawoon is a cloud-based Point of Sales (POS) application for SMEs. It helps them become more efficient and productive in running their business, by providing a platform that gives them the tools to thrive in the current era of connected commerce. It closed its Series A round earlier this year.

fintech-indonesiaDealPOS: DealPOS is a cloud-based point-of-sale ( POS ), inventory and accounting software for business which was also launched in 2013. DealPOS was founded to provide small businesses with an easy-to-use software to help manage their inventory and billing activities.

Cryptocurrencies

Says Hari Sivan, founder and CEO, SoCash, “Cryptocurrencies are far away from mass adoption for value exchange, the incremental benefits over other payment options are overrated. Cross-selling is something all business eventually do, so perhaps a data driven approach may give some businesses are the chance to disintermediate others. In a large & diverse market with growing demographics, the “next big thing” is hard to predict. However, it will be safe to bet on software-led innovation, shift towards renewables in our energy mix and automation forcing a massive need to re-skill the workforce in the next two decades.”

fintech-indonesiaQuoine: Quoine is an advanced Bitcoin trading platform offering margin trading and algo-trading across a number of currency pairs which was launched in 2014. It secured $20 Mn in its latest funding round in June 2016.

fintech-indonesiaBitcoin.co.id: Launched in 2013, it is the biggest Indonesian Bitcoin Exchange that acts as the backbone for the entire finance ecosystem in Indonesia implementing cryptocurrency technology in the payments system and remittance business. The startup secured $50K in an angel round of funding in February 2014.

In 2016 alone, the total disclosed funding in fintech in Indonesia reached $36 Mn (IDR 486 Bn), which includes IPOs and investment from parent company outside of the country. With eight investment activities in 2016, East Ventures came out to be the most active local venture capital which poured funds into fintech startups in the country. On the other hand, 500 Startups took the title of the  most active foreign VC in Indonesia’s fintech ecosystem, with 3 investments in 2016.

Banks, Fintech, & Startups: The Holy Trinity

With the advent of startups in the last few years, the banks have seen itself changing from a predominantly transactional business to a customer-centric one. With shifting consumption patterns, it is only a matter of time that the digital natives will conquer traditional players when it comes to customer acquisition, thus changing the industry ecosystem and forcing financial organisations to shape up or ship out. The digital sector is evolving rapidly and encompassing each facet of banks and fintech startups today, need to be on top of their game to stay ahead of the competition.

New-Age financial institutions aka fintech startups, like online lending platform, can offer affordable loans for customers as higher efficiency translates to less operational cost, which can pose a threat to the existence of banks, especially to those that are still reluctant to provide digital services. At the same time, the current penetration rate of fintech services in Indonesia is below 2%, as per a GIV report. This strengthens the position of banks as still the dominant players when it comes to customer retention and the Internet penetration.

Fintech, will thus prove to be a double edged sword for the Indonesian banks. On one hand, the traditional brick-and-mortar banks are being pushed to speed up their games and adopt technology as their primary vehicle for customer retention, just like in India.

For instance, earlier this year, in January 2017, Bank Tabungan Pensiunan Nasional (BTPN) launched its own fintech service, called Jenius, which allows users to open accounts in banks via a mobile device and manage their own personal finances. Users can also give a nickname to their banks account, instead of the conservative lengthy account number. This shows that banks have now become open and receptive to the idea of tech-efficient credit systems and are open to entering into strategic partnerships with various startups for lending and payments.

A successful fintech ecosystem of the future will be where all the market participants connect engage and share ideas across vibrant communities and networks as well as identify and convert opportunities into business. In this age of penetrative technology, no market participant can afford to operate individually.

Government And The Fintech Opportunity

For any new venture to succeed, in a country where the number of potential entrepreneurs is rising by the day, the role of administrative bodies and government towards boosting the emerging tech sector and other financial institutions, becomes very crucial. No technical and industrial sector can grow without adequate support from its administrative bodies.

The government, being receptive of developments in the fintech sector, launched the Fintech Association of Indonesia in 2015. As per an official statement, it has more than 55 registered startups and has identified 120 more.

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The country’s President, Joko Widodo, in June 2016 also launched an initiative called the ‘1,000 Startups Movement.’ The initiative aims to develop 1,000 startups by the end of 2020, the total valuation for which is expected to be around $10 Bn. Additionally, it also plans to establish a dedicated section within its main stock exchange to host initial public offerings by startups. It wants to set up a new trading market, that will be called the ‘technology board” – at the Indonesia Stock Exchange with an aim to ease the process for founders and investors to take their companies public in an easier way.

With an aim to provide small business owners with necessary financial assistance, the government of Indonesia has launched PENSA (Program for Eastern Indonesian Small and Medium Enterprise Assistance) in collaboration with the International Finance Center (IFC).

In November 2016, the Indonesian government, through the Central Bank, had launched the Regulation on Payments Transaction Processing to provide legal assurance for new and existing payments business activities. It has also created a Fintech Office whose work also includes capacity building and regulatory sandboximplementation.

In December 2016, the FSA issued a regulation on online peer-to-peer (P2P) lending, only one month after the Bank of Indonesia launched operations of a special office for fintech. As per a report by the Jakarta Post, the government has also implemented digital signatures in the country, and the process will come into being by the second quarter of 2017.

Challenges And The Road Ahead

FinTech can be developed to reach millions of Indonesians by providing easier access to a wide range of financial products tailored to the characteristics of the community. Like financial services in general, fintech is a business of trust, and incidences of frauds would lead people to abandon the tech.

Secondly, providing a solid back-end infrastructure is very important to support venture capitalists. If the exit infrastructure is not available, venture capitalists would then choose to list startups abroad, with better chances of gain from its secondary markets. Therefore, the Indonesia Stock Exchange, OJK, startup founders, and venture capitalists should be sitting together to find best practices for this issue, such as a parallel stock exchange.

The government too needs to come to the front and issue some extensive rules and regulations, when it comes to operating fintech in Indonesia. At the same time, regulations that will be issued by the OJK should not be too rigid, so as to provide a balanced climate. Some regulatory concerns include business licensing, business operation, governance, supervision and inspection, reporting obligations, and equities. Maintaining and promoting enthusiasm for the sector, with a climate of fair opportunities takes absolute essence.

At the same time, secondary factors like education, information, and Internet penetration would also need a boost so as to push the bandwagon of Indonesian fintech startups further. The fintech ecosystem that has roped in banks and startups alike in its waves would go till which great extents, only time will tell.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

Agri-tech startups have a field day as farmers, investors sow seeds of growth

In Indian agriculture, the scope—and application—of technology has long been limited to genetically-modified crops, high-yield seeds and, of late, a handful of sophisticated tools like aerial images and GPS technology. Needless to say, a lot of challenges that farmers faced remained unresolved, partly because there were no problem-solvers around.

But that’s fast changing. Leveraging rising mobile and internet penetration, an army of agri-tech startups is offering farmers services such as on-demand delivery of farm inputs, online financial assistance, weather updates, drone-driven crop health identification, soil health assessment and equipment on rent, among others. Then, for purposes of edification and infotainment, there are startups offering both financial literacy videos and online games, such as Wonder village and Farmer Book!

The array of offerings clearly suggests these startups are finding takers in farmers.

Ayush Nigam, co-founder of Distinct Horizon, a fertiliser application startup, says the biggest change the industry is seeing is that farmers are now willing to adopt new practices that can improve yields or reduce cost. They are open to trying new technologies as long as they are sustainable and don’t require too much additional labour.

Distinct Horizon, which has developed an innovative machine for deep placement of urea fertiliser to increase crop productivity, counts Tata Chemicals and San Francisco-based IDEO.org as partners. Nigam, who feels the space has been underserved for decades, claims his deep placement technology not only doubles farmers’ profits but also helps maintain better soil health.

Then there are startups like Ravgo, a farm equipment rental marketplace that holds out hope for small farmers who cannot afford expensive machinery. Ravgo follows a commission-based model, wherein it charges a certain percentage from vendors for the business it generates for them. The fact that analysts peg India’s tractor-hiring market alone at Rs 15,000 crore per annum indicates the potential of the segment.

The supply-chain space, too, has seen several startups, with logistics between farmers and end-customers continuing to be a tricky area. Others have gotten into primary processing, packaging and selling of produce, spanning the entire chain.

Rising investor interest
Several of these ventures have been able to raise funds from prominent investors like Indian Angel Network, International Finance Corporation, US-based venture capital fund Unitus Impact, and even Denmark-based Bestseller Foundation, a private philanthropic organisation.

“The sector is evoking investor interest because of the enormous market size and the new-found thrust on the end-customer. If entrepreneurs can prove that their concept works and farmers are willing to pay for it, investors will grab the opportunity,” says Nigam. In case of Distinct Horizon, he claims, the precise fertiliser application technology helps the company recoup four times the investment in the first year itself.

Gajjender Yadav, founder at cow milk delivery startup 4SFoods, feels the rise of socially-responsible consumerism is giving the industry a fillip. Besides, the fact that these startup entrepreneurs are not just sitting in AC cabins, but are willing to get their hands dirty, is also driving the change.

Also, investors are placing their bets on startups like 4SFoods, and other farm-to-fork and organic food ventures given the rising propensity of the Indian consumer to loosen their purse strings for healthy, pesticide-free food.

“The disposable income with the middle class is growing, the first avenue they spend money is the better quality of food. Hence, there is an incentive for companies to invest time, energy and money into delivering better quality food to the consumer. As long as the consumer is willing to pay, there is value in investing in these companies. Look at the organic sector, for example, no one was talking about it 5-6 years ago, but now people are buying organic. In general, they are willing to pay 10%-20% extra for packaged, pesticide free food.”

Using Bangalore-based Farmily, farmers can set up micro-sites to display their produce and reach out to potential customers. Whenever a customer shows interest, the farmer receives an SMS with the customer’s details, which eliminates middlemen from the process.

Another app-based startup, Mandi Trades, also connects farmers and buyers.

“Farmers face significant challenges at every point from buying agri-inputs, to improving yields and finally getting a good price for their produce. We are working on solving some of these challenges through technology,” Shardul Sheth, founder and CEO of AgroStar, had told VCCircle earlier this year.

A direct-to-farmer m-commerce platform, AgroStar is operational in Gujarat, Maharashtra and Rajasthan and claims to have over a million farmers on its platform.

Big Data isn’t behind either, with startups in the space winning insurance companies and banks as clients.

Mostly operating on the software-as-a-service (SaaS) model, these startups capture data on crop growth, likely yield, soil moisture, temperature and humidity, among other things, sell it to relevant stakeholders. Buyers include players selling agricultural inputs to farmers, apart from insurers and banks.

And the value-proposition is undeniable given data is the ultimate commodity.

“For most insurance companies, the challenge is to estimate the risk profile of the farmer and his farm. You have to have a lot of information, in terms of what crops are being grown, the track record, data on soil, nutrition, weather and pest attacks, the likely output, and the farmer’s income,” says Hemender Mathur, agribusiness investment lead and venture partner at Bharat Innovations Fund.

Not a cakewalk
Agrawal says the creation of a strong farmer network is tough but paramount. “Because many farmers have been cheated a lot of times by corporates and fly by night companies, they don’t trust you easily. They are generally sceptical and for companies to be able to service them and get the output from them is a challenge,” he observes.

He adds that if startups can figure out how to take “basic technology” to small farmers, productivity will rise.

On the tech side, the primary challenge is domain expertise.

For tech-driven startups, says Mathur, seamlessly integrating the technology platform with domain knowledge of agriculture is critical. “I think the challenge is to build multiple layers of analytics. How to analyse these data points in a form that it becomes more valuable and can be sold to multiple users. It needs a lot of domain expertise. People are not asking for data per se, they are asking for insights,” he adds.

Resilient food demand is, however, a good sign, and it will ensure there is always scope for innovation in all areas of agriculture.

“Challenges are on the supply side…there are so many intermediaries and inefficient handling. Aggregation is clearly the missing link. Primary processing, as simple as trading, sorting and packing, are also areas of big opportunity,” Mathur says.

As for the government’s role in the ecosystem, startups feel it needs to bump up the spend on farm inputs to unlock the sector’s long-term potential.

“The government spends almost 10 times of farm inputs on farm subsidies, but it needs to reverse the trend gradually. Farm subsidy makes a farmer dependent while inputs will make him much stronger and independent,” Yadav says.

Firefox 54 Claims to Be Faster, Use Less RAM Than Earlier Version

HIGHLIGHTS

  • Firefox 54 is already available for download
  • The new version uses up to four content processes
  • New version allows browser to handle complex web pages better

Mozilla’s Firefox browser has had problems with memory management in the past and with the latest version – Firefox 54 – the company claims that it has finally achieved a breakthrough. Firefox 54, which was released on Tuesday, has been claimed by the company to bring efficient RAM management and speed improvements to the browser.

In order to achieve these improvements, Firefox 54 uses up to four content processes as part of Mozilla’s ‘E10s’ project, instead of one used by earlier versions. In simple terms, this means that a complex page, with extensive multimedia content, now ends up having less impact on responsiveness and speed of other tabs, said Nick Nguyen, Vice President, Product, Firefox, in a blog post.

“By separating the tabs into separate processes, we make better use of the hardware on your computer, so Firefox can deliver you more of the Web you love, with less waiting,” Nguyen wrote.

Nguyen adds that in company’s tests, Firefox 54 was found using significantly less RAM as compared to other browsers on Windows 10, macOS, and Linux.

Firefox 54 Claims to Be Faster, Use Less RAM Than Earlier Version

The Firefox 54 release has been described as a phase in Mozilla’s E10s initiative and going ahead, the company might very well increase the cap on the maximum number of processes used by the browser. The Verge points out that users can already customise the upper limit by entering “about:config” in the address bar and adjusting the settings themselves. Interested users can download the latest version of the browser from Mozilla’s official website or simply update their existing Firefox release to the latest version and check they are on Firefox v54.

Mozilla seems to be working to improve one aspect of its browser at a time. After introducing Quantum Compositor with Firefox 53 to reduce crashes, the company focused on RAM management and speed improvements with the next release.

As Google’s Chrome browser is used by a much larger chunk of users than Firefox, taking care of these issues one at a time might convince more people to give Firefox a try once again.

TRIUMPH BOBBER ROADTEST – A BOBBER EACH WAY

The concept of buying an old sports bike and turning it into a streetfighter is probably within the ken of any motorcycle enthusiast. Just rip all the superfluous bits off and replace the others with blingy aftermarket items. It’s not rocket science, and there’s a sense of achievement without breaking the bank. But try turning a standard bike into a bobber and chances are you’re quickly in over your head.

Moreover, the expense will likely be more than you’d budgeted. Plus you’ve no guarantee of success, and it may take forever. That’s why existing motorcycle companies are doing all the hard R&D yards for you, producing all sorts of retro-inspired stuff, and then adding catalogues of aftermarket items that allow you to personalise to your heart’s content and wallet’s extent. Take, for example, Yamaha with its XSRs. A mate who rides R1s just turned around and bought a Yamaha XSR700, a LAMS bike for heaven’s sake. Why? Because he liked the look of it. Bike purchases are often heart over head. And he knew that he could derestrict it back to around 65hp, making it quick enough.

Moreover, with a few suspension tweaks he ends up with retro stunter that looks and handles great, won’t land him in the slammer, and didn’t cost the earth. Other bike makers have hit upon the same formula, and Triumph is the latest to roll out something a bit left field in its Bobber. Just like Ducati laid claim to the Streetfighter title, now Triumph has decided to take ownership of the Bobber tag. Bobber is what? Originally, almost a century ago, it related to a ‘bob-job’, which was another term for a ‘cut-down’, meaning stripping excess bodywork, right down to fenders – the rear was shortened or ‘bob-tailed’ – all to make the machine lighter and quicker. A cut-down often involved modifying the chassis, lowering the rear subframe and seat so there was one long sweeping line from the steering head to the swingarm.

THIS BIKE IS AWFUL PURTY. EVERYONE WANTS TO KNOW ABOUT IT. GOT NO FRIENDS? YOU’LL BE MORE POPULAR WITH A BOBBER.

In the 30s, the AMA introduced a new racing class involving bikes like these, so road-based derivatives became popular, and the bobber class was born. Back then and right into the fifties and sixties, bobbers were handbuilt but that changed over time. Triumph’s 2017 Bobber looks like it might have been produced back in the sixties, as it’s based on the latest Bonneville T120, itself a retro machine.

But apparently every aspect is different. It even has its own frame, though the front half of the bike still resembles the T120. However, there’s only a single disc and the forks wear gaiters, and there’s a different main instrument and smaller headlight and tank. Otherwise, they’re identical. Things get way dissimilar at the rear though, where there’s a gorgeous bespoke single seat that could have easily been borrowed from a 30s or 40s bike, only it sits on an adjustable aluminium pan, secured by torx fixings and they didn’t happen along until 1967.

Moreover, the seat sits on a ‘swing cage swingarm’ mounted to a monoshock absorber mainly hidden from view. The engineer responsible reckons it “gives the hardtail look but with suspension that is comfortable and gives good wheel control, offering 76mm of travel”. The idea behind the adjustable seat is that it slides backwards or forwards, ideal for cruising with the seat back but you tend to ride in more spirited fashion with it forward, so the choice is yours.

Travel is limited to 50mm. The 1200cc engine is similar to that of the T120, high torque, but with its own airbox and intake tract it produces slightly more grunt, 106Nm at 4000rpm, and will lug lower, right down to 1500rpm. Peak power of 57kW also arrives early at 6100rpm, but it’s well onto it by 4500rpm. There’s really not much point heading beyond about 5500rpm unless you’re chasing numbers, and it’s all over by 6500rpm anyway.

This bike is awful purty. Everyone wants to know about it. Got no friends? You’ll be more popular with a Bobber, not that there’s seating for pals; it’s a solo mount only. That seat is a bit thin and while it’s okay at town speeds and ride quality is passable on smooth surfaces the short sharp shocks you do notice at highway speeds. Lack of padding aside, the riding position is wizard for a cruiser, the pegs and flat bars positioned with just a slight forward bias. Kick ‘er in the guts, figuratively speaking, and the almost unbaffled pipes speak with a lilt few will dislike. At times there’s almost the sound of a flat-four, but mostly it’s a characteristic parallel twin bark, not too loud or underdone. The slash-cut pipes are sweet looking too. Our machine had optional leather panniers, not that sizeable but easily removed. I prefer the pared-to-the-bone look.

As mentioned, this is the T120 motor, but beefed up for basement torque. Of which there’s plenty, though there needs to be as it runs moonshot gearing. Come 100km/h it’s waffling along at 2600rpm, so fuel use on the open road in the mid-fours is possible. We saw 4.7 after a stint that included performance testing.

Because it runs such tall gearing it isn’t quite as quick as Thruxton R, but nor is it backward in coming forwards, hitting 100 in 4.4sec, only 0.4sec behind the cafe racer. And it’s the same for an overtake, down a gear or two and you’re on the wrong side of the road for only 76m. We’re not sure why but upshifts on the Bobber seem smoother than those of Thruxton, and they share the same gearbox. Perhaps it’s because you’re hooking the next gear at around 2000rpm in town, 3000 or so out in the boonies.

We really liked how this felt in our launch ride around town; it seemed to change direction in playful manner, thanks to the skinny front 19-inch wheel and the wide-set drag bars. Out in cow country its handling is a delight, but then it’s a Triumph and that’s a given. These guys are chassis maestros. With a raked out front end, it shouts stability holding a line beautifully, even with the pegs grinding away. And with a rear tyre that’s not overly wide, and decent bar leverage, it drops into turns happily as well. The limiting factor is ground clearance in tighter going. Helping make this a delight is a kerb weight of just 250kg. And that makes moving it around a bit of a doddle, especially as you’re not on tippy toes and the C of G is low.

Is this the ultimate cruiser then? Probably not, the ride precluding that. And some might not come to grips with its brakes either. A single disc up front is a much better look than a pair, and it keeps unsprung weight to a minimum but in a panic stop mauling the brake lever doesn’t have that much effect. If you need to stop in a hurry you have to also stand on the brake pedal.

Do that and it pulls up from 100km/h in 3m less distance than the Thruxton. The other issue is its 9L fuel tank, but we managed 170km easily from brimmed and by that time your bum will be wanting a break anyhow. The Bobber is my fave from the new Bonneville family. It looks fantastic, does the important things well, and can be customised further if you want. Good luck securing one though; the first shipment of 25 sold out just like that.

4 things nobody tells you about blogging

A lot of people don’t recognize and hardly understand the intricacies of blogging. Some go as far as dismissing it as some kind of hobby, rather than recognizing it as the business it is. Jumia Travel, the leading online travel agency, shares 4 things nobody tells you about blogging.

Blogging is Not Some Get Rich Quick Scheme

It’s nice to hear about blogs that charge thousands and hundreds of thousands for publicity or adverts of any kind. But what most people don’t get is that blogging is hard and it takes a lot of time and patience to be read widely enough to get noticed by firms, corporations and companies for publicity and advertisements. Most of the widely read blogs today took months, even years of consistent and tireless effort to get to where they are today and have the kind of recognition they have. Blogging is hardly a get rich quick scheme.

Blogging is Not That Easy
There is a general belief that running a blog is what you do when you either don’t have a job or don’t have anything better to do. Many believe it’s easy and requires little or no effort. That’s inaccurate. Aside having to constantly come up with interesting and engaging content for your blog (almost every hour of the day if yours is a news blog), you also have to consider the mails, questions and comments that you always have to attend to, to help drive engagement on your blog. Eventually, as your blog grows, you’ll realize it’s hardly something you can do on your own.

A Blogger is Not Only a Blogger

As a blogger, especially when starting out, in order to grow your readership you are going to feel the need to be a web designer (trying to find the right web layout that will be attractive and user friendly), a social media strategist (ensuring you use social media to get as much publicity for your blog as you can), an SEO specialist, a web marketing guru and an amateur photographer all at the same time! It’s a lot. You might not exactly be a professional in all the above mentioned areas, but you have to be able to handle them well enough not to suck at it and to help grow your blog’s readership.

The Business Side

Many people tend to underestimate or don’t understand the business side of blogging. They either start demanding for money too soon or are completely clueless about how sponsored content works around the policies of the corresponding firms, corporations and companies. A good number of people don’t realize that some brands or companies have payment terms of ninety days; meaning even after doing publicity for them, you might not get your payment until after three months. Some brands also have you working on sponsored content and you will have to send them draft upon draft till they like what they see. Since you’ve likely already signed a contract with them, you really don’t have much of choice. It is important to recognize the business side of blogging and try to understand it before going into it.

Twitter Starts Rolling Out New Look for Web, Apps, TweetDeck, and Twitter Lite

HIGHLIGHTS

  • Changes designed to make Twitter feel lighter, faster, and easier to use
  • Update brings bolder headlines and more intuitive icons
  • Users’ profile images changed from square-shaped to round

Twitter has unveiled a new look, and much like some previous changes the company has made to its short-messaging service, it’s not going over so well with the Twitterati.

“Today, with lots of feedback and ideas from you, we’re refreshing our product too and making it feel lighter, faster, and easier to use. We listened closely and kept what you love,” Twitter said in a blog post announcing the new design.

The San Francisco company says the new design emphasises simplicity, making it faster and easier to use, with bolder headlines and more intuitive icons. It also changed users’ profile images from square-shaped to round. On its apps and TweetDeck, tweets will “now update instantly with reply, Retweet, and like counts so you can see conversations as they’re happening,” Twitter added.

twitter ios app redesign twitter

The company said the new user interface will roll out on twitter.com, Twitter for iOS, Twitter for Android, TweetDeck, and Twitter Lite in the coming days and weeks.

Twitter users immediately responded Thursday by tweeting jokes and memes critical of the changes. There were almost 30,000 tweets about the new user interface, or UI, within hours of the change, the vast majority of them either complaining about the new look or mocking it. A popular image was a suddenly round SpongeBob SquarePants.

twitter ios redesign twitter

Twitter also took heat from users last year when it changed its algorithm that orders the tweets users see. Users also tweeted their dismay when the company rolled out its Moments feature, and when it got rid of its star icon signifying a “favorite” tweet, in favor of a heart icon, similar to Facebook’s “like” button.

The redesign is Twitter’s latest attempt to freshen the messaging service, which has struggled to attract new users at the same pace as Instagram, Facebook and Snapchat. Twitter revenue growth has stalled for years, and the company has cut costs and shuffled executives while still never posting a quarter of profit.

Foodpanda Will Now Deliver All Orders For Partner Restaurants, Regardless of the Source

HIGHLIGHTS

  • Foodpanda announces Dash, a logistics service for restaurants
  • After a three-month pilot, Dash is going live now in 7 cities
  • It will deliver orders originating from any source, not just Foodpanda

Online food ordering and delivery firm Foodpanda on Thursday said it will provide third-party logistics services to its restaurant base across major cities, including Delhi, Mumbai, and Gurgaon. Foodpanda has already been delivering its orders from some partner restaurants for two years now – accounting for nearly half the orders it receives. As part of the new development, restaurants can use Foodpanda delivery services even for the orders which have not come through the Foodpanda channel.

According to the company, this expansion of the delivery ecosystem by Foodpanda is aimed at optimising efficiency of existing on-ground fleet, which was initially used only for orders placed through the brand.

The deliveries were first started as a pilot three months ago, and the initiative is now live across Delhi, Mumbai, Gurgaon, Hyderabad, Mumbai, Pune and Bangalore, Foodpanda said in a statement. This includes a fully integrated offering, where orders come via Foodpanda, and are delivered, as well as delivery on a need basis. restaurants will be charged per order, the company added.

Foodpanda on-boarded more than 500 partner restaurants and the number is expected to reach around 1,500 in the next three months, the company said.

Foodpanda Will Now Deliver All Orders For Partner Restaurants, Regardless of the Source

“With our new delivery product offering, we intend to be significant support system for our partners by easing hassle of delivery for them and extend best-in-class service levels to more customers,” said Foodpanda India CEO Saurabh Kochhar.

“The new business partnerships with the restaurants are aimed to provide better services and to further expand our delivery network across the country,” added Kunal Suri, COO Foodpanda India. “We are currently able to deliver orders within 35 mins on average, which we further plan to improve on. With Dash we plan to extend this benefit to our restaurant partners thereby strengthening the delivery ecosystem across the nation.”

Written with inputs from PTI