PACTERA EDGE announces AI Innovation Challenge for Retail and Manufacturing start-ups, in collaboration with IIIT Hyderabad

Pactera EDGE, a USA-based AI digital technology services company, today announced the launch of an AI Innovation Challenge in India, in partnership with IIIT Hyderabad

-  Targeting innovative ideas and start-ups in thematic focus areas under Computer Vision for Human Activity Detection, and Visual Inspection in manufacturing

-  With a 12 lakh grant for each selected start-up, the program will focus on enabling domain connection and market access for start-ups having AI solutions in the retail and manufacturing sectors

HYDERABAD, India-- Pactera EDGE, an AI and Digital technology company headquartered in Redmond, USA, today announced an AI Innovation Challenge for early-stage start-ups with technologies that can address problems in the Retail and Manufacturing sectors. Specifically leveraging computer vision for Human Activity Detection, Visual Inspection in manufacturing. Pactera EDGE has partnered with International Institute of Information Technology Hyderabad( IIITH) for this initiative.

Pactera EDGE and IIITH are looking for start-ups with technologies addressing specific problem statements. The ideas include strategy, technologies, expected outcome and impact. Early-stage start-ups leveraging Computer Vision which have adjacent tech that can be pivoted to address retail or manufacturing problems. The program helps start-ups with Research connect, general strategy mentoring, specific domain use cases and problem identification, assistance through the solution pivot for this domain, and then connect with a few prospects globally.

Selected start-ups will go through a structured immersion program for four months to help them pivot the product for specific domain use cases, enrich tech through inputs from research, and align with the market areas chosen by Pactera EDGE.They will also receive a INR 12 lakh equity-free grant.

'Pactera EDGE believes in reinventing customer experience using revolutionary AI technologies and give our customers the winning EDGE in the digital era,' says Dinesh Chandrasekar, CIO, Pactera EDGE.

Pactera EDGE will also support these ideas with mentorship across spheres including technology, business strategy, design, and product development. IIITH will leverage its deep tech research capabilities and vast experience incubating start-ups to provide research and business mentorship to selected start-ups.

CIE at IIITH, over the past 13 years has incubated over 400 start-ups. And since founding T-Hub, has focussed on deep tech start-ups, specifically through accelerator programs like Avishkar and Ojas. In recent years the corporate accelerator programs have helped connect these early-stage start-ups with markets.

"CIE-IIITH is very happy to be partnering with Pactera EDGE for through market access program. As an early-stage incubator, helping start-ups with market access is the most significant challenge. And such corporate programs' help is a key enabler towards this goal," said Prof Ramesh Loganathan, Head of Outreach, Professor of Co-innovation at IIIT Hyderabad.

More details at https://cie.iiit.ac.in/pactera-edge-ai-innovation-challenge/

About Pactera EDGE

Pactera EDGE brings together data, intelligence, and experiences to deliver human-centric solutions to complex business challenges. Pactera EDGE is a consulting and technology services partner headquartered in Redmond, USA, offering inventive solutions in AI and Digital Transformation space, which includes Cloud, RPA, Data Monetization, and AI enablement services. With over 2800 employees worldwide and a 500000+ crowd-sourced global workforce, Pactera EDGE creates business value for Fortune 2000 companies by accelerating business innovation, enabling new growth, improving operational efficiency, and transforming the user experience.

About IIIT Hyderabad

International Institute of Information Technology, Hyderabad, is a research university with deep tech capabilities and established centres of excellence focusing on natural language processing (speech and text), image processing, computer vision, machine learning, and applications of artificial intelligence to population-scale problems. IIIT's CIE is one of India's oldest incubators, has enabled 40+ start-ups and has raised $25Mn+ external funds for partner start-ups. For more information, visit https://www.iiit.ac.in.

THE SLEEP COMPANY, COMFORT-TECH DISRUPTORS LAUNCHES ITS FIRST RETAIL OUTLET IN BANGALORE - KICKS OFF ITS NATIONWIDE OFFLINE EXPANSION PLAN IN STYLE

•  This launch activates the brand's expansion plans of 25+ stores in strategic locations over the next six months

•  The aggressive offline push is a pivotal growth driver for The Sleep Company to achieve its goal of INR 500 CR in two years

•  Each store will be a unique SmartGRID experience through innovative and aesthetically designed spaces

BANGALORE, India -- The Sleep Company, Asia's SmartGRID mattress pioneers and advocates of the comfort-tech movement in India and Asia, today marked their entry into the offline retail space with the launch of their first flagship store in Koramangala, Bangalore. This store launch is just the beginning of the D2C brand's aggressive offline retail expansion with plans to launch 25+ stores across the country in the next six months.

With a design that highlights the unique grid structure of the brand's patented SmartGRID technology, this offline foray extends the reach and accessibility of The Sleep Company's revolutionary innovations to a wider audience. The Bangalore store as well as the ones planned over the next few months will serve as an important experiential touch point for customers, adding a much needed touch-and-feel element to the D2C brand's extensive online presence. The company owned and operated (COCO) store will function on a phygital (omnichannel) model where customers can cash and carry small products from the store while placing orders online for their SmartGRID mattresses that will get delivered to their doorstep.

The company's aggressive offline push, paired with ambitious plans for local as well as global expansion is a part of the brand's strategic vision and goal to reach a revenue projection of INR 500 CR in the next two years. Forging ahead into the offline market the company plans to open retail stores in strategic locations in states like Karnataka, Hyderabad, Kerala, Chennai, Maharashtra, Gurgaon and in the Eastern regions of India.

Commenting on the store launch, Harshil Salot, Co-founder of The Sleep Company said,  "An omnichannel customer experience has always been a part of The Sleep Company's natural progression and we're extremely excited to be able to achieve this ambition within just a few years of inception. Over the course of little over two years, we have consistently introduced products that have challenged innovation within the comfort ecosystem and driven our business with a single-minded ambition to deliver customer-obsessed value. This has helped us achieve a growth rate of almost 4X. As a part of this growth story, Bangalore and the southern belt of the country holds immense potential and value for us as almost 40%-45% of our business comes from this region. Therefore we are thrilled to be able to kick-off the next stage of our journey with this city and look forward to growing our offline presence as successfully as our digital presence.

Adding on, Priyanka Salot, Co-founder of The Sleep Company said, "While the last few years have done wonders for the online mattress market, nearly 85% of consumers still prefer buying mattresses offline given that the purchase experience continues to be heavily dependent on a touch-and-feel element. Therefore, as a growth driver it becomes necessary to have multiple touch-points for the consumer to buy our product especially when it's something as one-of-a-kind as our SmartGRID technology. Our offline retail expansion comes at a time when we are growing aggressively and we're excited to kick things off with Bangalore considering that it is one of the top cities in terms of market share for The Sleep Company. Furthermore, with Bangalore being the tech-hub of the country and us championing the comfort-tech movement, the city becomes an obvious choice for our first store."

Within just over two-years, The Sleep Company has achieved milestone after milestone; from becoming one of the most loved brands in the digital marketplace to clocking a revenue run-rate of INR 100 CR. With this expansion The Sleep company scripts its next chapter as not just India, but Asia's comfort-tech disruptor revolutionizing the way people sleep and sit.

About The Sleep Company

The Sleep Company is one of India's leading comfort innovation company and the creator of the revolutionary patented SmartGRID mattress. Founded in 2019 by husband-wife duo Priyanka and Harshil Salot, the company aims to offer customers the best sleeping experience that uses science and ergonomics to create the ultimate comfort and optimal support to the body with the best prices, as well as durability. The Sleep Company offers premium products, based on years of meticulous research that is light years ahead of its competitors with technology that is based on cutting-edge developments in the field of material science and sleep science. With customer-centricity at its core, the company has adopted a completely D2C business model; combining the power of the digital marketplace (Amazon and Flipkart) with its own website. Augmenting its discoverability and eliminating inefficiencies in its supply chain, the company has managed to further provide a distinct value proposition to its customers with an accessible premium product. The company recently received fresh funding of INR 13.4CR in a pre-series A Round led by Fireside Ventures  as well as participation from LogX Ventures and Varun Alagh, Co-Founder, Mamaearth. For more information, visit TheSleepCompany.in