MAM
BharatPe appoints Sumeet Singh as general counsel & head – corporate strategy
MUMBAI: BharatPe has onboarded Sumeet Singh as the general counsel and head – corporate strategy. The appointment will further bolster the leadership team at BharatPe, which currently is a mix of renowned professionals across industries.
Singh is a seasoned legal professional with 10+ years of experience across leading law firms including AZB& Partners, DSK Legal and Amarchand Mangaldas. He brings deep understanding of legal, compliance, regulatory and structuring aspects of multiple sectors including non-banking financial, retail, e-commerce, FMCG, digital media and technology.
Singh, who is expected to join BharatPe soon, is currently a partner at Shardul Amarchand Mangaldas, New Delhi, having joined the erstwhile Amarchand Mangaldas Suresh A. Shroff in 2013 from AZB. He has actively represented some of India’s biggest e-commerce, retail entities, financial companies and start-ups. Recently, he was part of the core team advising Reliance Retail Ventures in its acquisition of the entire retail, wholesale, logistics and warehousing business of Kishore Biyani's Future Group. He has also been advising Norwest Venture Partners (a US$ 9 billion investment fund) in all their recent investments in India including in Xpressbess, OFB Tech, Ess Kay Fin Corp, Veritas Finance etc. He has been an advisor to Grofers since its early days leading their fundraising work.
Additionally, Singh represented Indiamart on its pre-IPO fund raising. His other marquee representations include clients like Nestle, IFC, Inshorts, IDFC Alternatives Ltd (now Global Infrastructure Partners), Qatar based Q Invest, Raine Group and NewsCorp.
BharatPe co-founder and CEO Ashneer Grover said, “2020 has been an exciting and solid growth year for BharatPe. As we get ready to welcome 2021, I would like to welcome Sumeet to the team. Sumeet will be the first partner at a major law firm to join a start-up. I’ve known Sumeet professionally and personally for five years and there is no one better to steer BharatPe on its goal to be India’s first true digital bank. He will be responsible for corporate strategy, compliance, licensing, equity and debt deals, ESOP schemes, cap table management and preparation for eventual listing.”
Singh added, “I am excited to join Ashneer and his solid team of CXOs as they build out a truly differentiated and capital efficient fintech at BharatPe. The way BharatPe has broken away from the fintech crowd to create a solid business, bodes well for the future and I am honoured to contribute to this amazing growth.”
Brands
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
