Business
DIF managed by BOV Capital leads LKR 205 million funding round for IFINITY
BOV Capital, through its Digital Innovation Fund (DIF), recently completed a funding round that raised LKR 205 million for IFINITY (PVT) LTD, a financial solutions provider primarily focused on digital transformation within the BFSI sector.
In addition to helping raise funds, BOV Capital will mentor and guide the highly experienced senior team at IFINITY in opening up new global markets, along with access to future follow-on funding opportunities.
According to Kishan Nadarajah, Principal at BOV Capital; “We look forward to nurturing the exceptional promise shown by IFINITY. Already a disruptor at the forefront of taking brick and mortar bank branches digital, IFINITY and its partnership with leading European enterprise software firm TEMENOS is center stage in shaping the future of the local FSI industry. And we are excited to see where they take us next.”
A first of its kind dedicated technology services provider for the banking and financial service sector, IFINITY embraces a lean-digital agile philosophy to allow financial service institutions to bring in digital transformation at an unprecedented scale. It works towards making banking seamless and invisible, which in turn helps people live richer, more vivid lives.
IFINITY is a subsidiary of NCINGA, a Technology Solutions Provider with a unique Lean and Agile Approach to Digital Transformation, which grabbed local headlines last year by spinning off its virtual factory operation to a Singapore-based tech unicorn in a landmark deal for Sri Lanka valued at US$ 15.5 million.
“We are pleased to onboard DIF as our strategic partners to strengthen IFINITY’s journey to help banks to become invisible and make banking a seamless lifestyle activity. With the great team and the world class partnerships we have, and the backing from DIF as our investors, we are confident that we can build a global services company to transform the banking and finance industry. Prior to IFINITY, we were also very lucky to have DIF in our previous startup nCinga Innovations which built the world’s best Apparel MES platform, nFactory,” commented Imal Kalutotage, Chairman of IFINITY.
Managed by BOV Capital, the Digital Innovation Fund is keen to attract sector-agnostic digital startups that disrupt or transform their industries or even open up new horizons. Funding proposals are encouraged and evaluated and the Digital Innovation Fund will continue to invest in startups and tech companies looking to raise Rs. 50mn to Rs. 200mn. Startups and tech companies can reach BOV Capital via info@bovcapital.com.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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