IG Drones Secures India’s First Patent for Defence Drone Simulator, Fulfilling PM Modi’s Vision of Aatmanirbhar Bharat

In a historic stride towards India's technological sovereignty and defence self-reliance, IG Drones has been granted the patent for the nation’s first indigenous defence drone simulator—a monumental achievement in India's march towards Aatmanirbhar Bharat.

Originally unveiled by Hon’ble Prime Minister Shri Narendra Modi at the Defence Expo 2022, this simulator now stands as a beacon of India’s homegrown defence excellence—a proud symbol of Bharatiya innovation, capability, and resolve.

Designed, developed, and manufactured entirely on Indian soil, this next-generation simulator provides high-fidelity, realistic training for the Indian Army, Navy, Air Force, and paramilitary forces—empowering our soldiers to master combat drone operations in simulated high-risk environments, including GPS-denied zones and multi-drone missions.

Built with state-of-the-art AI, physics-based engines, and real-time terrain dynamics, the simulator eliminates dependence on foreign systems, offering a secure, cost-effective, and fully Indian alternative. This isn’t just a product—it is a strategic force multiplier that strengthens the hands of our warriors and honours the spirit of ‘Jai Jawan, Jai Vigyan’.

“This patent is a proud declaration of India’s technological resurgence,” said Bodhisattwa Sanghapriya, Founder & CEO of IG Drones. “Under the visionary leadership of Prime Minister Modi ji, we are not just building products—we are building the future of Bharat’s defence. This Made-in-India drone simulator is a salute to our nation’s armed forces, scientists, and innovators.”

With this patent, IG Drones becomes the first Indian company to receive intellectual property rights for a drone simulator platform—a domain previously dominated by foreign entities. The achievement signals India’s growing confidence in designing world-class indigenous defence solutions, perfectly aligned with the Viksit Bharat 2047 mission.

Already a trusted partner of the Indian Armed Forces, IG Drones played a critical role in Operation Sindoor, deploying indigenously built VTOL, FPV, and kamikaze drones for strategic surveillance, mapping, and targeted strikes—reinforcing its reputation as a Bharatiya defence tech pioneer.

At a time when the world is watching India’s rise, this patent showcases the power of Indian intellect, Indian industry, and Indian intent. It is a clarion call to the youth, the soldiers, and the scientists of this great nation—that India can build, lead, and win with its own might.

Bharat is not just participating in the future of warfare—we are shaping it. On our terms. With our technology. And with the Tricolour held high.

IG Drones is a leading drone technology company specializing in advanced defense and industrial solutions. Driven by innovation, it has established itself as a pioneer in delivering cutting-edge technologies to meet the evolving needs of industries and national defense. At the forefront of industry-first breakthroughs, IG Drones is revolutionizing the sector with 5G-enabled drones and Made-in-India manufacturing. With AI-powered solutions, the company enhances drone applications across defense and industry. Founded by Bodhisattwa and Om Prakash and headquartered in Noida, IG Drones exemplifies industrial leadership in drone technology and innovation in India.

Tata Steel Wins Top Innovation Honors for Patents & Sustainability

Tata Steel has been recognized with two prestigious awards: the National Intellectual Property Award from the Indian Patent Office and the World Intellectual Property Award from the World Intellectual Property Organization (WIPO). These honors highlight Tata Steel’s leadership in intellectual property creation and commercialization, with over 2,000 patent applications filed globally. In FY24 alone, the company submitted 142 patent applications and was granted 395 patents.

Since establishing one of India’s oldest R&D facilities in 1937, Tata Steel has consistently pushed the boundaries of innovation, filing its first patent in 1938. The company’s patent portfolio was recently featured in a compendium by the Indian Patent Office, showcasing innovations aligned with the United Nations' 17 Sustainable Development Goals (SDGs).

This recognition underscores Tata Steel’s commitment to technological advancement and sustainability, particularly in environmentally responsible steel production.

Subodh Pandey, Vice President – Technology, R&D, NMB and Graphene, Tata Steel, said: “The steel sector today offers immense scope for building competitive advantages in the marketplace on the back of its R&D capabilities and through collaboration with leading academia in the country. There is also a growing need to focus our R&D efforts towards building a more environmentally sustainable steel sector. On both counts, Tata Steel has seized all opportunities and will continue to do so to not only stay ahead of the technology and innovation curve but also create a benchmark for others who are keen to invest in building their intellectual capital.”

	Patents filed and granted by Tata Steel
	FY24	FY23	FY22	FY21	FY20
Patents filed	142	132	125	119	116
Patents granted	395	150	163	190	133

Mphasis Granted U.S. Patent for Quantum Prediction System

Mphasis, (BSE:526299; NSE: MPHASIS), a leading Information Technology (IT) solutions provider specialising in cloud and cognitive services, today announced the award of a U.S. patent on “System and method for optimized processing of information on quantum systems”.

The newly issued patent outlines a pipeline to improve the scalability and performance of quantum machine learning (QML) on near-term quantum computing systems including quantum simulators.

This solution transforms high-dimensional classical input data into an enhanced feature space in quantum format. The feature space transformation ensures efficient mapping and preparation for quantum state loading, paving the way for improved quantum data processing and analysis. The optimal representation method for classical data on quantum systems minimizes the need for additional qubits for higher-dimensional data, handles large feature sets and high volumes of data, and ensures efficient convergence during quantum machine learning (QML) model training.

QML leverages its ability to process high-dimensional, complex data, delivering solutions beyond the reach of classical high-performance computing hardware.

“Quantum Machine Learning (QML) is emerging as a transformative paradigm, enabling academia and industry to solve real-world AI challenges with unprecedented efficiency. This technology and the associated patent stand as a testament to our commitment to innovation and the advancement of next-generation technologies,” said Srikumar Ramanathan, Chief Solutions Officer, Mphasis.

Tata Power-DDL Secures Patent for A Device that Protects Electric Transformer

Tata Power Delhi Distribution Ltd (Tata Power-DDL) has secured a 20-year patent for its innovative self-regenerating transformer breather. This technology is designed to protect transformers from moisture, significantly extending their lifespan and reducing maintenance needs.

The self-regenerating breather uses waste heat from the transformer to minimize moisture content, which means the silica gel inside the breather needs to be replaced much less frequently—only during standard maintenance schedules, typically once every two years. This is a substantial improvement over conventional designs, where silica gel replacements are required four to six times within the same period.

This innovation not only enhances the efficiency of power supply infrastructure but also prepares it to handle challenging weather conditions more effectively.

The self-regenerating breather developed by Tata Power-DDL is quite an innovative piece of technology. The breather contains silica gel, which absorbs moisture from the air entering the transformer. This is crucial because moisture can significantly reduce the efficiency and lifespan of transformers.

Unlike traditional breathers, this device uses the waste heat generated by the transformer itself to dry out the silica gel. This process is known as self-regeneration. The heat causes the moisture absorbed by the silica gel to evaporate, effectively "recharging" the gel.

Because the silica gel is continuously regenerated, it doesn't need to be replaced as often. Typically, the gel in a conventional breather needs to be replaced four to six times over two years. With the self-regenerating breather, replacement is only necessary during standard maintenance schedules, usually once every two years.

This technology not only reduces maintenance costs and efforts but also ensures that the transformer operates more reliably, even in challenging weather conditions. By maintaining optimal moisture levels, the breather helps in extending the transformer's lifespan and improving its performance.

This innovation is a significant step forward in transformer maintenance and efficiency, aligning well with Tata Power-DDL's commitment to sustainable and reliable power distribution.

Tata Motors Filed Record 222 Patents and Secured Grant of 333 Patents in FY24

Tata Motors, India’s leading automobile company, has achieved a significant milestone towards intellectual property rights (IPR) creation with a record-breaking number of 222 Patents and 117 Designs applications filed during the year FY24, highest in its history.

These filings span across a wide spectrum of product and process innovations, addressing key automotive megatrends such as Connectivity, Electrification, Sustainability, and Safety (CESS). They also cover various vehicle systems such as powertrain, body & trim, suspension, brakes, HVAC, and emission control.

Tata Motors also received its highest ever grant of 333 patents during the same period, taking its total tally of granted patents to over 850.

Tata Motors’ strong commitment to engineering excellence, cleaner powertrains, design, connectivity, and intelligent safety features ensures that its innovations seamlessly align with real-world needs.

By prioritising both consumer well-being and environmental stewardship, the company’s purposeful research and innovation efforts have yielded more efficient, greener and safer vehicles, benefiting end-users and transforming the industry. In FY24, Tata Motors received five prestigious accolades and honors of global repute for its excellence in intellectual property rights (IPR).

Commenting on the milestone, Rajendra Petkar, President & Chief Technology Officer – Tata Motors expressed, “Tata Motors’ unwavering commitment to research and innovation has propelled us to new heights in innovation & value creation through intellectual property. With a record number of patents filed and granted, we continue to redefine automotive excellence. Our cutting-edge technologies, greener vehicles, and customer-centric approach position us as trailblazers in the industry. As mobility evolves, Tata Motors remains at the forefront, shaping a smarter, more connected future for all.”

Kerala Engineer Secures Patent for Hand-Portable Kamikaze Drone

Late last month, C.J Varghese, a Kerala based engineer & innovator, received a patent (#515036) from Indian Patent Office for his pioneering invention of hand-portable Kamikaze drone.

Kamikaze drones, also known as loitering munitions or suicide drones, are weapons that can patrol over a battlefield before attacking a target.

The patent granted to Varghese is third patent by Indian Patent Office to him, out of six applications he has filed to date.

The Hand Portable Track and Kill Suicide Drone, designed by Varghese, to be operated by the army or special ops during war or in the chance of a terrorist attack. The main aim of this is to reduce casualties and allow the force to advance quickly in a face to face combat situation where the enemy is just few metres in front of the force. The enemy can be tracked and the user can decide whether to act or not.

Patent Granted
A pioneering hand-portable Kamikaze drone, resembling a capsule, or a smart grenade, featuring distinctive foldable and deployable mechanisms, along with an innovative engagement strategy.
3rd patent pic.twitter.com/Or2i99Rxjq

— C.J.Varghese (@CjVarghese96) February 26, 2024

Unlike other suicide drones and surveillance drones available in the market, its design is made simple and light so as to be operated with comfort and can be held in the palm of a soldier, which allows him to throw it like a grenade. Thus, it can also be called as a Smart Grenade. But this drone comes with less specs, short life time of about 5 to 10 minutes and a maximum range of about 400 to 700 meters within a limited altitude of 30 to 40 metres from the ground.

Varghese's Kamikaze drone resembles a capsule, or a smart grenade, featuring distinctive foldable and deployable mechanisms, along with an innovative engagement strategy.

The drone is operable by using small tablets that can be fixed on the arms and such drone's controls being partially automated and standard controls will only pop up if needed or on request.

The drone invented has throw mode or normal lift mode that can be selected before deployment by flicking a switch on the drone, wherein the control tablet will have the live feed from the drone; the drones can be taken out from its tube casings and hooked to the exterior part of the user"s backpack and a user in a 6-team unit can carry about three of these drones with the user.

The weight of the drone with warhead is about 1200g. The condition for lifting i.e. fly of Quadcopter is that the ratio of total thrust of the body to the total weight of the body should be minimum 1.5.

Total Thrust/ Total weight = X/1200 = 1.5 So total thrust X = 1.8 Kg. Thus, the minimum required thrust per motor is equal to 450g.

The foldable arm holds the motor and the propeller unit. Upon the deployment of the drone, on releasing the pin the arm is unfolded and for doing this it uses elastic cables or similar spring mechanisms.

The drone, claims Varghese in one of the patent documents, can be taken out from its tube casings and hooked to the exterior part of the soldier's backpack by giving such a mechanism on the drone, so that he can use them quickly and easily while advancing towards an enemy territory.

Vedanta Aluminium with IIT Kharagpur Develop Innovative Breakthrough, Gets Patent

Vedanta Aluminium patents innovative breakthrough in bauxite refining process

Developed in collaboration with IIT Kharagpur, the innovative process will enhance resource efficiency and curb energy consumption

Vedanta Aluminium, the largest aluminium producer in India, has announced the development of a groundbreaking process to significantly reduce the generation of bauxite residue, commonly known as red mud in the alumina refining process. The process reduces bauxite residue by a remarkable 30% by eliminating iron values while simultaneously recovering a higher alumina yield, reducing the total organic content from bauxite during the alumina refining. The process significantly enhances resource efficiency and curbs energy consumption during refining.

The research project was led by the company’s Research & Development (R&D) department in collaboration with the Department of Metallurgical and Materials Engineering, Indian Institute of Technology Kharagpur (IIT KGP), with special support from the Lanjigarh, Odisha unit, home to Vedanta’s world-class alumina refinery. This cutting-edge development will enhance the company’s operational excellence and have a sustainable impact on the global aluminium industry.

Bauxite is the primary ore for aluminium, and it undergoes an intermediate refining stage, known as the Bayer process, to produce alumina, which is then subjected to electrolysis to produce aluminium. This refining process generates bauxite residue as a by-product. To produce 1 kg of aluminium, it requires 2 kg of alumina, which consumes 6 kg of bauxite, leaving behind 4 kg of bauxite residue.

Managing this voluminous by-product sustainably has been a long-standing industry challenge. Vedanta Aluminium is actively engaged in minimising bauxite residue and exploring avenues to extract value from it. The company has developed a revolutionary process, which has been successfully validated in the laboratory and patented. Presently, the company is focusing on establishing a pilot plant to implement and assess the process, along with determining its potential advantages.

On the breakthrough, Mr. GG Pal, Dy. CEO – Alumina Business, Vedanta Ltd., said, “At Vedanta Aluminium, operational efficiency is of paramount importance for us in achieving sustainability. Toward this goal, we are aggressively focusing on our in-house R&D initiatives to drive tech-led innovative solutions to address existing industry problems.”

Sharing his thoughts on the development, Dr. Amit Chatterjee, Chief Research & Development Officer, Aluminium Business, Vedanta Ltd., said, “We look forward to implementing our groundbreaking process in bauxite residue management in our refinery operations. This is a significant milestone that will offer a pathway to enhanced resource efficiency and energy conservation and contribute towards reshaping the global aluminium industry.”

Dr. Chenna Rao Borra, Assistant Professor, Department of Metallurgical and Materials Engineering, IIT Kharagpur said, “Vedanta Aluminium’s dedication to R&D for sustainability goals is truly inspiring. The reduction of bauxite residue has been one of the key challenges for the aluminium industry, requiring significant technological advancements. The process, developed through the collaborative efforts of IIT Kharagpur and the company, will not only significantly improve bauxite residue management but also contribute to reducing the carbon footprint in the process.”

Vedanta Aluminium is the first company in the country to extract the entire volume of water from bauxite residue slurry and recycle it back into operational use, achieving Zero Liquid Discharge (ZLD) and demonstrating its commitment to water conservation. The remaining bauxite residue is densely packed in dried form and stored in a specially constructed and scientifically managed concretized area called the Bauxite Residue Reservoir. This containment method prevents bauxite residue from inadvertently leaching into the groundwater. For this processing purpose, the company was the first in the country to establish a Bauxite Residue Processing Plant. With the new method implementation, this residue generation will be reduced further.

Additionally, Vedanta Aluminium is actively collaborating with research institutes to develop innovative technologies for the utilization of bauxite residue. These technologies include the beneficiation of bauxite residue to enrich Rare Earth Elements (REEs), the recovery of alumina and iron values, and processes for extracting and separating titanium and REEs like Scandium. This effort is crucial because bauxite residue houses valuable metals, including iron, alumina, REEs, and titanium dioxide.

Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

IIT Madras Researchers Patent Technology That Generates Electricity from Both Tidal and Wind Sources

The current innovation is an energy converter system that generates electricity in coastal areas to reduce electricity consumption

Indian Institute of Technology Madras (IIT Madras) Researchers have patented a 'Combined Power Generation Technology' technology that can generate electricity from both Tidal and Wind sources.

This can be deployed as a mobile vehicle For Power Generation, Transmission and Storage. The current innovation is an energy converter system that generates electricity in coastal areas to reduce electricity demand. The converter system can be deployed depending on the power requirements in the coastal areas.

At present, the Researchers are focused on scalability and affordability and are trying to build a cost-effective prototype using 3D-Printing and other technologies.

A wind turbine mounted on a vehicle's roof will employ the converter technology to generate wind energy as well as convert tidal energy into electrical energy. The energy output of the system or gadget is entirely renewable and sustainable. The roof-mounted solar panel could also be used to power other equipment on mobile vehicles.

Elaborating on the key aspects of this innovation, Prof. A. Seshadri Sekhar, a former Head, Department of Mechanical Engineering, IIT Madras, who is currently on deputation to IIT Palakkad as its Director, said, "The current invention creates electricity using only one vertical axis wind turbine, a horizontal converter mechanism, and no hydraulic set generator based on pendulum support. The current converter also has a variety of height adjustable guider support mechanisms to help regulate the height of the elliptical plate attached to the main shaft. The current idea, on the other hand, lacks a horizontal axis turbine and is entirely onshore, therefore there is no severe corrosion problem.

Moreover, the converter is a remote-controlled system that can be relocated to any position based on wave height and power generation requirements.

Furthermore, without the need for a submarine connection, the generated electricity can be easily delivered from the transformer It also has fewer operating expenses, requires less maintenance, and produces clean energy. It can also be used as a moving vehicle. Tidal energy is a clean, sustainable energy source with significant potential and the unusual capacity to be totally predictable.”

Commenting on a timeline for possible field deployment of this unique technology, Prof. A. Seshadri Sekhar said "The converter system may need to be relocated depending on the power demand in the coastal area. The system's or gadget's energy output is fully renewable. The solar panel on the roof is also used to power other equipment on mobile vehicles.”

Novelty of This Technology

The following mechanisms are unique to the current technology and have specialised features:

• Spring -assisted mechanism,
• Adjustable guider structural support mechanism,
• Main shaft with five converter gear shaft mechanisms,
• Direction converter gear mechanism, floor level adjustable mechanism, 
• Gear coupling mechanism.

Highlighting the novel aspects, Mr. Sadham Usean Ramasamy, PhD Research Scholar, Department of Mechanical Engineering, IIT Madras, said, “This technology will potentially entail fewer expenditures, require less maintenance and produce clean and sustainable energy."

The technology developed by IIT Madras researchers envisages locating the entire converter onshore. Hence, there would be no major corrosion issues. Additionally, the converter is a remote-based system that can be moved to any location based on wave height as well as power generation requirements.

With 164 Patents Filed, Bharat Petroleum (BPCL) R&D Center Revolutionizes the Fuel Industry with Breakthrough Innovations

• BPCL Introduces Ethanol-Diesel Blend for Cleaner Emissions
• The R&D division has filed 164 patents for cutting-edge innovations
• Adopts Innovative Approach to Valorizing Bio-refinery Waste
• BPCL Unveils Groundbreaking Technologies for rapid crude oil sourcing and Real-Time Refinery Monitoring and Optimization
• BPCL R&D Develops High-Efficiency LPG Burner for Energy Conservation

BPCL R&D Centers have been at the forefront of technological advancements. Since its establishment in 2001, the Corporate R&D Centre has provided a platform for breakthrough research and development. Together with the Lubes R&D Centre, a leading hub in lubricant research, BPCL R&D continues to contribute to a greener and cleaner fuels. Its research areas have evolved over the years, focusing on carbon capture and utilization, green hydrogen, biofuels, advanced clean fuel, petrochemicals, and business sustainability. These strategic focus areas align with the company's commitment to environmental stewardship and energy transition.

In view of this, Bharat Petroleum's Research & Development (R&D) division proudly presents its state-of-the-art facilities and strategic focus areas at the Corporate R&D Centre in Greater Noida. With a commitment to innovative and sustainable solutions, BPCL R&D has gained international recognition as a leading research center.

Over the years, the division has achieved remarkable milestones, including 164 Patents filed for cutting-edge innovations, 87 Patents granted across multiple countries, 17 Technologies/products commercialized and over 230+ Scientific papers and Book chapters. Notable innovations include the development of "Green Silica" from rice straw-based 2G Bio-refinery ash, compostable biomaterials, and Superabsorbent Polymer (SAP) products.

Aligned with Bharat Petroleum's sustainability agenda and Net Zero Mission, BPCL R&D has undertaken initiatives like the Diesel-Ethanol blend to reduce emissions. The division's digital advancements and collaborations with renowned institutions have fostered the knowledge economy and innovation culture.

Shri G. Krishnakumar, Chairman & Managing Director, BPCL, said, “With ‘Energising Lives’ as our core purpose, our mission is leveraging talent, innovation & technology and always being the first choice of customers. Our dynamic R&D team, brimming with creativity, has successfully developed a multitude of cutting-edge technologies, innovative products and processes that have not only increased our profitability but also significantly reduced our environmental footprint. Their continuous pursuit for excellence has led us to attain numerous accolades such as an extensive patent portfolio”.

Shri Hardeep Singh Puri, Hon'ble Minister of Petroleum and Natural Gas, said, "Under the visionary leadership of Hon’ble PM Shri Narendra Modi, BPCL is remarkably pushing the boundaries of technology and sustainability through its cutting-edge R&D initiatives. I congratulate the team BPCL for continuous pursuit for excellence, contributing significantly to India's energy landscape and reinforce our position as a global leader in innovation."

Focused on carbon capture, green hydrogen, biofuels, clean fuels, petrochemicals, and business sustainability, BPCL R&D drives excellence and innovation in these areas. Its cutting-edge facilities, Motivated team of Scientists, Engineers and Administrative Staff, and strategic partnerships are at the forefront of technological advancements.

BPCL-R&D has also achieved a significant milestone in the digital space. It has developed two novel technologies, namely the K Model for crude compatibility and BPMARRK® for quick and accurate real-time crude assay. BPCL is the only company at the global level to achieve this milestone in the oil and gas sector. Recently, a collaboration agreement was inked with the world leader in Refinery Software business, M/s Aspen Technology Inc. USA, to provide a unique solution to the refinery world for real-time monitoring and optimization of refinery units, along with BPCL BPMARRK® software.

To address India's import dependency for gas, which currently caters to 50% of the country's 44MMTPA gas demand, BPCL-R&D is working on the development of an energy-efficient PNG burner. Notably, BPCL-R&D has successfully developed a PNG burner with an efficiency of 70%, surpassing the reported 55% efficiency so far. The plan is to conduct a pilot and roll out the energy-efficient PNG stove during FY 2023-24, contributing to a reduction in import dependency.

We are investing heavily in these upcoming areas both in terms of manpower and infrastructure. I believe innovations in these areas can not only give BPCL competitive advantage and also create sustainable business environment; while contributing for the nations net zero ambition and thus making the world better place to live for the future generation.

About Bharat Petroleum Corporation Ltd. (BPCL):

Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy.

Bharat Petroleum’s Refineries at Mumbai, Kochi and Bina Refinery have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, energy stations, aviation service stations and LPG distributors. Its distribution network comprises over 21,000 Energy Stations, over 6,200 LPG distributorships, 525 Lubes distributorships, 123 POL storage locations, 53 LPG Bottling Plants, 70 Aviation Service Stations, 4 Lube blending plants and 4 cross-country pipelines.

Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has chalked out the plan to offer electric vehicle charging stations at around 7000 energy stations over next 5 years.

With a focus on sustainable solutions, the company is developing a vibrant ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting innumerable initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With ‘Energising Lives’ as its core purpose, Bharat Petroleum’s vision is to be the most admired global energy company leveraging talent, innovation & technology.

In An Industry's First, ICICI Lombard Risk Management Gets Patent for An IoT System

ICICI Lombard risk management receives a patent for IoT-enabled System to avert fire-hazards

In an industry-first move, ICICI Lombard to offer this product to SME and Corporate institutions

In recent years, the evolution and development of IoT (Internet of Things) devices have provided exciting capabilities and services to the end user. IoT devices have also been introduced in different areas to prevent unexpected mishaps caused by human error or malfunctioning of devices. One such mishap that can happen due to malfunctioning of devices is a fire disaster. ICICI Lombard, India’s leading private non-life insurance company, has identified this area to innovate an IoT-based device that protects properties from various electrical hazards. The company has been awarded a patent to offer this product to its customers.

This is an industry-first initiative undertaken by ICICI Lombard General Insurance Company, and this patented electrical IoT solution is a B2B device geared towards SMEs and corporates. The solution monitors electrical hazards to notify and control if necessary on real time basis. Using this patent, the company aims to strengthen its resources to provide technologically robust and quality customer solutions.

Speaking about the recently approved patent, Sanjay Datta, Chief of Underwriting, Claims and Reinsurance, ICICI Lombard, said, “We have been able to see a high rise in the number of fire incidents in commercial as well as residential buildings, which only goes to show that a lot of infrastructure across our nation, especially in densely populated metros, are vulnerable to fire. However, there is an essential need for advanced technology to plan, manage, monitor, and control electricity delivery to enable a safe and reliable system. Technology has always been a major driving force for us at ICICI Lombard to provide cutting-edge risk solutions to millions of customers."

"With this patent approval of an IoT-based - system, we aim to provide not just insurance covers to our customers but also ensure their safety and prevent hazards. This device will serve as a new-risk solution for customers and having introduced several innovative, tech-enabled insurance solutions in the past years gives ICICI Lombard an edge over his peers.”

Majority of fires in India are caused due to electrical installations. Maximum number of disasters in industries are due to electrical problems such as voltage fluctuations, overheating, and ageing of the material and electrical gadgets. Further, causing huge losses and burdens on small industries. Therefore, the launch of such a solution is more relevant.

At ICICI Lombard we work with customers to develop best in class risk management and mitigation practices. Understanding of risk is fundamental to our business. Today, we have made it a key component of risk management and identified ways to view the risk landscape qualitatively and quantitatively. Our risk management cell has been instrumental in enhancing the overall safety culture for several clients. Risk solutions such as Safety Studies, Risk assessments, Sector wise Solutions, etc. have been developed to create awareness among customers. On the technological front, we have started introducing IoT solutions for key components. We have specifically focused on the problems plaguing the MSME and SME segment and their lack of access to quality risk management services. Accordingly, we have reinvented our offerings to include hard data on the electrical, fire and process safety. It is interesting to see how safety and efficiency go together especially with respect to electrical safety. We are starting to see increased awareness as customers and elevate their risk preparedness.

In the past, ICICI Lombard has developed various technological advancements that have ensured a seamless customer experience. The Company is leveraging natural language processing and robotic process automation technology to automate the quote generation process and policy booking for corporate and SME customers. Under SME segment which is close to 90% of the business sourcing is done through digital solutions. Approximetly 97% of ICICI Lombard’s policies today are issued electronically. With the use of AI-based motor break-in solutions for lapsed policy renewal, drones for motor video surveillance, and agent hiring and on boarding moving digital, the use of AI as well as ML in underwriting and risk management has significantly increased for the Company making it the most tech-enabled companies in the sector.

About ICICI Lombard General Insurance Company Ltd

ICICI Lombard is one of the leading general insurance companies and the leading motor insurer in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 20 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaaye Vaade'. The Company has issued over 29.3 million policies, settled 2.3 million claims and has a Gross Written Premium (GWP) of ₹185.62 billion for the year ended March 31, 2022. ICICI Lombard has 283 branches and 11,085 employees as on March 31, 2022.

ICICI Lombard has been a pioneer in the industry and migrated its entire core systems 100% to the cloud. With a strong focus on being digital led and agile, it has launched a plethora of tech-driven innovations, including Face Scan and Cal Scan on its signature insurance and wellness App - IL TakeCare, with over 3.0 million downloads. The Company has won several laurels including the 'Emerging Company of the Year at ET Corporate Excellence Awards, 'Best General Insurance Company at Annual Best & Emerging Insurance Company Awards, 'ACEF Asian Leadership' for 'Combatting COVID 19' initiatives, Guinness World Record for its CSR initiatives and many more. The awards are a testament to the trust reposed in the Company by its customers, partners, and other stakeholders. For more details log on to www.icicilombard.com

CleanTech Startup Pi Green Innovations Receives Patent for Filterless Technology in India

This Pune-based start-up has patents across 30 other countries

Pi Green Innovations Pvt Ltd, one of the emerging cleantech start-ups has been granted the India patent for its filterless technology, Carbon Cutter. The patented Pi Green Carbon Cutter Technology is used to manufacture retrofit devices for diesel generators and heavy vehicles. 

Pi Green Innovations filed for its India patent in 2017. The company develops technology-driven solutions to reduce particulate matter emissions (PM 2.5/PM 10) at the source and from ambient air. The company already holds patents for Carbon Cutter in the USA, China, UK, European Union & Singapore. The patents will enable Pi Green Innovations to present opportunities for businesses to adopt technology that will help address emissions at the source and contribute toward a sustainable future.

Mr. Irfan Pathan, Co-Founder & CEO at Pi Green Innovations 

Pi Green Carbon Cutter, is a fully automatic, filterless solution that can be installed on diesel generators, heavy vehicles and industrial boilers to capture over 70% particulate matter. The company has several customers across key sectors like Auto, Hospitality, FMCG, Ports, SEZs, Heavy Engineering and Manufacturing etc. Pi Green’s Carbon Cutter solution has also been recognized as one of the best technologies for air purification globally at Smogathon 2018, a global summit conducted in Poland.

Commenting on this, Mr. Irfan Pathan, Co-Founder & CEO at Pi Green Innovations said, “We are delighted to receive this recognition for Pi Green’s Carbon Cutter technology. This is an encouraging validation for the entire team on how innovative and meaningful initiatives can lead to significant transformation. We aim to make clean air accessible to all and with India patent we are a step closer to our mission.”

Mr. Rizwan Shaikh, Co-Founder & Chief Invention Officer at Pi Green Innovations

Mr. Rizwan Shaikh, Co-Founder & Chief Invention Officer at Pi Green Innovations said, “Since early college days, I had a dream of making India proud on a global platform through innovation, Pi Green’s Carbon Cutter is a mix of some very basic scientific concepts with path-breaking innovation in the field of environment. It was satisfying to be granted patents across the Europe Union, USA, Singapore, China and UK, but being granted the patents in India is a dream come true. Going forward, my team and I will continue to contribute towards cleaning the air in India and make it a better place to breathe.”

The company was founded in 2017 as a five-member team operating out of a 150-sq-ft workshop and has since grown into an established Cleantech start-up with a team of over 100 operating from a 50,000-sq-ft. manufacturing facility in Pune. This is a company that is working to reduce pollution at source at the grassroot level.

About Pi Green Innovations:

Pi Green Innovations is a cleantech company, founded with the aim of creating technology-driven solutions for the reduction of particulate matter emissions (PM 2.5/10) at source and from the ambient air. The company’s key solutions include Carbon Cutter Machines- ‘filterless’ retrofits for diesel generators and heavy vehicles. In addition, Pi Green has also developed RepAir – a filterless ambient air-purification tower that can be installed in public spaces. The company’s revolutionary innovation has been rated as one of the best technologies globally to reduce air pollution at Smogathon 2018 in Poland and has also won several other industry awards.

In 2021, Pi Green raised over $4.5 million in Series A funding from the Investment Fund of Opus Consulting. Previously, Mr. Harshal Morde, Director of Morde Foods, had invested $300,000 as seed capital in its mission to make clean air accessible to everyone. The company is committed to creating sustainable solutions for a greener future. Innovations in technology and design are used to indigenously develop products that hold the promise of a cleaner environment.

Pi Green’s technology has patents granted in the USA, UK, China, EU, and Singapore. For further information about Pl Green Innovations, please visit: https://pigreeninnovations.com/

Bengaluru-based BuoFuel Tech Firm GPS Renewables Receives Patent for Its Decentralised Distributed Biogas Model

GPS Renewables strengthens IP Portfolio; receives patent for its Decentralised Distributed Biogas model

GPS Renewables, a Bengaluru based biofuels technology and EPC firm, has received a patent from Intellectual Property India for its Decentralised Distributed Biogas model (DISPRED model).

GPS Renewables’ DISPRED model which stands for DIStributedPREDigestion is a 100% decentralized model. It enables the direct many-to-one or many-to-many mapping of Waste Generators to Bulk Energy Users in a completely B2B way.

GPS- DISPRED MODEL

GPS’ unique proprietary model bypasses the standard global approach of transporting food waste to a centralised location, processing it, and then bottling and delivering it to energy users. Transportation of waste accounts for 60-70 percent of waste management costs. By adopting the DISPRED Model, the cost of transportation as well as the distance of transport greatly reduces.

The DISPRED model includes:

• Pre-digestor: The Pre-digestor is an ultra-compact Liquid Anaerobic Composter (LAC) that processes and converts food waste at source into a stable pre-digestate, which does not release any biogas. It can be set up in basements or terraces of apartment communities and requires merely 200 sq ft of space for 1 ton waste. The LAC is located at the waste generator’s premises or other designated area near the waste generator. In waste management, about 60-70% of expenses are in transportation of waste. But the slurry from the predigestor needs to be collected once in 4 - 5 days, thus reducing the transportation cost of transportation costs
• Gas Generation Unit: The second component of the model is the Gas Generation Unit(GGU) that processes the pre-digestate (slurry) produced by Liquid Anaerobic Composter (LAC). The slurry, which is essentially fuel, can be easily transported in tankers, without creating a mess. Hence, the GGU can be set up anywhere, where there is space available and there's a need for large volumes of LPG/PNG.
• Scheduler: A scheduler tracks every Liquid Anaerobic Composter and communicates the number of tons of pre-digestate to be picked up from each unit to the pre-digestate carrier. The collection can be done on a predetermined route increasing the overall efficiency.

Designed for apartment communities and housing societies, the DISPRED model is easy to manage and operate. The biogas generated from the ‘Gas Generation Unit’ can replace LPG/CNG, thus generating revenues. The DISPRED Model allows maximum resource utilisation of the food waste and ensures segregation at source Since the processing of food waste starts early, it has the highest possible biogas productivity potential. Furthermore, since the biogas is generated near the point of usage, no additional resources are wasted in bottling and transportation of biogas.

Commenting on this, Sreekrishna Sankar, COO and Co-Founder, GPS Renewables, said, “Rapid urbanisation and a burgeoning population have led to an exponential increase in the generation of municipal solid waste (MSW). GPS Renewables’ DISPRED Model has been designed to remove all the challenges that are usually seen in the standard centralised model of waste collection and treatment.”

“ There are no two ways about the fact that the future is all about sustainability and renewable energy. Biogas generation from food waste diverts the entire food waste from landfills. Thus, avoiding the harmful impact of poorly managed waste. Moreover, the biogas generated replaces usage of fossil fuel, thus further contributing to the mitigation of GreenHouse Gases.” he added.

About GPS Renewables

GPS Renewables is a Series B funded cleantech company headquartered in Bangalore. The company focuses on biofuel technologies to solve the organic waste management challenge, accelerate substitution of fossil fuel with bioenergy and play a key role in mitigating climate change. Starting from captive biogas plants, GPS has scaled up to setup some of the world’s largest BioCNG plants, including Indore city’s recently commissioned 500TPD BioCNG plant.

For more information: http://www.gpsrenewables.com/

Innoviti Granted US Patent on its Technology for Secure QR Communication Between Terminal Devices and Target Systems

Innoviti Granted US Patent on its Technology for Secure QR Communication Between Terminal Devices and Target Systems(Patent portfolio expands to 4, with 26 more in pipeline)

Communication security is a key consideration for safe transfer of payment information from a consumer facing product – such as a terminal, website, or mobile app to a payment processing server for authorization. Common security lapses can lead to a) stealing of customer identify, b) change in merchant identity and c) change in transaction amount. Any such lapse would lead to loss of money for the customer and merchant, besides inconvenience to all parties. Security lapses can erode consumer and merchant confidence and are the single biggest factor that can affect the growth of digital payments. 

Innoviti's patent furthers the advancement of secure communications in payment systems.

The patent aims to address certain security challenges that arise in push payment systems, where the merchant (payee) identity capture is disconnected from the payment processing step. Most popular payment methods are pull based, e.g., card payments at a store or online, mobile payments online etc. The merchant sends a debit request to the customer's bank in a single connection-oriented protocol. The challenges if any arise in validating the bonafides of the customer, which are authenticated through a second factor. 

However, in push payments the challenges are related to capture of the merchant's identity. A possible hack of the merchant's identity and its replacement with a false one can lead to the consumer getting debited but a fraudulent account getting credited. A possible use case is in unassisted QR payments, e.g., vending machines, self-check-out, etc., where an unauthorized, random substitution of the QR can cause this issue. Innoviti's patent aims to address these situations through a technology innovation at the network layer that eliminates this possibility.

Commenting on the development, Mr. Amit Ahuja, SVP Technology, Innoviti, said, "Innoviti desires to become the purchase partner to every Indian by helping them make better purchase decisions. We do this by developing sophisticated technology and delivering it through simple, exceptionally crafted purchase experiences. This is hard, very hard to put together. Our patents are a demonstration of the sophisticated technology required to deliver such exceptional experiences. These patents are also a great recognition of the exceptional talent that exists in Innoviti. Further, they not only help us protect our customers against claims by other parties but are also a mechanism for us to deter replication of our technology by competition. We are proud to receive a US grant for this patent. Through these patents, in our own small way, we hope to contribute to the "Make in India, For the World" mission. We have 26 more patents in the pipeline and over the next couple of years plan to increase this to a portfolio of 100+ patents."

Innoviti has developed a collaborative commerce platform that enables businesses to partner on payment transactions and turn them into powerful purchase tools that help consumers buy better products and more products. Merchants, banks, and brands come together on Innoviti's platform to create such purchase tools. The platform is delivered as software applications that run on payment terminals and mobile and web applications, helping the merchants drive more customers, more sales, and more profits than possible otherwise. This technology will further enhance the reliability of Innoviti's products, providing a virtually zero error system that will help boost the consumer-merchant purchase experience.

Based on deep consumer insights, Innoviti's products are crafted using superior technology that has translated into higher GTV per point of purchase than anyone else in the market, and a continuously increasing take rate per $ of GTV. Processing over Rs. 75,000 Cr. of annualized purchase volume, Innoviti's flagship uniPAYNext product commands a dominant market share of 76% in the large enterprise category, providing category specific purchase tools to grocery, fashion, healthcare, and electronics merchants.

Innoviti had raised a Series D round of Rs. 80 Cr. in December 2020, towards fueling the expansion of its mid-market product GENIE. Within the past few months GENIE has rapidly grown to driving Rs. 1,000 Cr. of annualized GTV that is targeted to grow to Rs. 7000 Cr. over next twelve months. Innoviti's highly differentiated product strategy backed by modern enterprise grade technology has not only driven a rapid growth trajectory, but also a highly profitable one with gross margins more than 70%. The company's enterprise business has been EBITDA positive since October 2020.

Innoviti Granted Patent on Its Payment Technology Solution for Double Debits in Digital Payments

Patent portfolio expands to 4, with 26 more in pipeline

Double debit is a common problem in payments. It is used to describe a scenario where due to network unreliability the customer's money gets debited for a purchase while the merchant does not get credit. The merchant does not hand over the goods, asking the customer to pay again, leading to a double debit for the customer. The customer chases their bank to reverse the first transaction, leading to inconvenience. This problem is one of the biggest contributors to customer grievance with digital payments. The scenario also leads to erosion of merchant’s confidence with digital payments. Innoviti’s patent provides a technology solution to this.

The patent aims to address the unreliability of mobile networks. Virtually 100% of mobile and web consumer applications send data over TCP/IP networks. TCP/IP, the most common network protocol was designed in the 1970s by Vint Cerf and Bob Kahn, often called as the fathers of Internet. The protocol was primarily designed for wired networks prevalent at that time. Most modern applications however work on wireless networks, which behave somewhat differently. These applications however use TCP/IP at network level leading to some unusual situations that are the primary cause of this unreliability. Innoviti’s patent aims to address these situations through a novel application layer technology that rides on the same network layer.

Mr. Rajeev Agrawal, CEO & Founder, Innoviti

Innoviti has developed a collaborative commerce platform that enables businesses to partner on payment transactions and turn them into powerful purchase tools that help consumers buy better products and more products. Merchants, banks, and brands come together on Innoviti’s platform to create such purchase tools.

The platform is delivered as software applications that run on payment terminals and mobile and web applications, helping the merchants drive more customers, more sales, and more profits than possible otherwise. This technology will further enhance the reliability of Innoviti’s products, providing a virtually zero error system that will help boost the consumer-merchant purchase experience.

Based on deep consumer insights, Innoviti’s products are crafted using superior technology that has translated into higher GTV per point of purchase than anyone else in the market, and a continuously increasing take rate per $ of GTV. Processing over Rs. 75,000 Cr. of annualized purchase volume, Innoviti’s flagship uniPAYNext product commands a dominant market share of 76% in the large enterprise category, providing category specific purchase tools to grocery, fashion, healthcare, and electronics merchants.

“Innoviti desires to become the purchase partner to every Indian by helping them make better purchase decisions. We do this by developing sophisticated technology and delivering it through simple, exceptionally crafted purchase experiences. This is hard, very hard to put together. Our patents are a demonstration of the sophisticated technology required to deliver such exceptional experiences.

These patents are also a great recognition of the exceptional talent that exists in Innoviti. Further, they not only help us protect our customers against claims by other parties but are also a mechanism for us to deter replication of our technology by competition. The great encouragement and support infrastructure provided by the Government of India to start-ups has been instrumental in our drive to protect technology developed in India. Through these patents, in our own small way, we hope to contribute to the “Make in India, For the World” mission. We have 26 more patents in the pipeline and over the next couple of years plan to increase this to a portfolio of 100+ patents.” – said Mr. Rajeev Agrawal, CEO, Innoviti.

Innoviti had raised a Series D round of Rs. 80 Cr. in December 2020, towards fueling the expansion of its mid-market product GENIE. Within the past few months GENIE has rapidly grown to driving Rs. 1,000 Cr. of annualized GTV that is targeted to grow to Rs. 7000 Cr. over next twelve months. Innoviti’s highly differentiated product strategy backed by modern enterprise grade technology has not only driven a rapid growth trajectory, but also a highly profitable one with gross margins more than 70%. The company’s enterprise business has been EBITDA positive since October 2020.

Agritech Startup Fasal Wins Patent for Fasal Kranti, a Solar-powered IoT Device for Precision Farming

Fasal, India’s earliest full-stack agri-tech solutions company, today announced that it has won a patent for its innovative solar-powered IoT device for precision farming — Fasal Kranti. The patent, granted by the Indian Patent Office, recognizes Fasal Kranti for its innovation, novelty and application. 

With this, Fasal becomes the first company in India to offer a patented precision farming device for horticulture farmers.

The plug-and-play Internet of Things (IoT) device, Fasal Kranti, which runs on solar and battery power, is installed in horticulture farms (fruits, vegetables, flowers, etc). Through its sensors, it measures various farm level macroclimatic, microclimate conditions along with rainfall, soil moisture, soil temperature, wind direction, leaf wetness, etc. The data collected from the hardware device is processed into actionable advisories for farmers using agronomic models, Artificial Intelligence (AI) and Machine Learning (ML). Horticulture farmers are then alerted on these farm-specific advisories via an app on their mobile phones — lending them a comprehensive picture of their farms.

Fasal Kranti IoT Device

Fasal Kranti provides disease and pest control preventive assistance by alerting farmers on which treatment to use and when to use it. Its irrigation advisory helps save water, allowing farmers to provide their farms with the right amount of water required at the right time. 

By equipping farmers with crop intelligence, Fasal has impacted 50,000 plus acres of farm land across the country mitigate production risks and achieve higher yields and profitability. 

Since its inception in 2018, Fasal’s real-time insights have helped farmers collectively save 10 billion litres of water (about 30-50% lower irrigation water use), achieve upto 15-30% reduction in pesticide costs and about 15-30% rise in yield — thereby empowering farmers to achieve predictable incomes. Through Fasal, farmers have been able to achieve upto 40% increase in their incomes.

Shailendra Tiwari & Ananda Verma - Fasal Founders

Commenting on the patent win, Ananda Verma, the Founder and CEO of Fasal, said, “The grant of patent for Fasal Kranti, which has been in development by our team since March 2019, is a testament to Fasal’s commitment to innovation and supporting farmers with actionable farm-level advisories. For generations together, farmers have relied upon guesswork in farming — leading to unpredictable yields and incomes. Fasal Kranti’s tech-backed insights eliminate the unpredictability to bring higher yields and predictable incomes. We are driven to take Fasal Kranti globally to many more farmers and look forward to helping them grow more and better."

Fasal Kranti has also won the IMARK 2021 award by India Design Mark. The company has also won the Next Gen Product of the Year 2021 award by NASSCOM.

More About Fasal

Fasal is India’s earliest full-stack agritech solutions company. It helps horticulturists reduce the cost of cultivation and increases quality and yield through its AI-powered patented IoT device, Fasal Kranti, that delivers farm-level actionable advisories. Through precision farming, Fasal aims to remove guesswork out of farming and empower horticulture farmers with predictable incomes. 

The company propagates sustainable horticulture practices and solutions that impact the social, economic, and environmental facets, thereby making a big impact on the UN's Sustainable Development Goals. Started in 2018 by Ananda Verma and Shailendra Tiwari, the company is on a mission to drive a horticulture-led farming revolution globally.

For the 1st Time in 11 Yrs, Domestic Patent Filing Surpasses Int'l Patent Filing in India

Filing of patents increases by more than 50% in the last 7 years

Nearly five-fold increase in grant of patents 2021-22 as compared to 2014-15

Shri Piyush Goyal appreciates consistent efforts made by DPIIT to strengthen the IPR regime in India

For the first time in the last 11 years, the number of domestic patent filing has surpassed the number of international patent filing at Indian patent office in the Quarter Jan-Mar 2022 i.e. of the total 19796 patent applications filed, 10706 were filed by Indian applicants against 9090 by non-Indian applicants, said the Ministry of Commerce & Industry, in a press release.

The Union Minister of Commerce and Industry,  Mr. Piyush Goyal appreciated the consistent efforts made by DPIIT on strengthening the IPR regime in India by fostering innovation, and reducing compliance burden. The coordinated effort by DPIIT and IP office has led to increased IP awareness among all strata of society. These efforts have on one hand led to increase in the number of IPR filings, on the other hand has reduced the pendency of patent application at IP offices. 

Filing and Grant of patent applications over the years

He also mentioned that this will take India a step closer to the India’s ambitious target of being in the top 25 nations of Global Innovation Index.

Last year in February, government launched a campaign called KAPILA (Kalam Program for Intellectual Property Literacy and Awareness Campaign) for Intellectual Property Literacy and creating patent awareness among Indian innovators,

Some of the key initiatives taken by the Government over the years that has bolstered India's IP regime includes fee concessions like 10% rebate on online filing, 80% fee concession for Start-ups, Small Entities and educational institutions, and provisions on expedited examination for Startups and MSMEs along with other categories.

Last year in August, Mr. Goyal informed that CY 2020-21 saw 572% growth in patent grants, where in 28,391 patents were granted in 2020-21 as compared to mere 4,227 patent grants during 2013-14. In the following month, the ministry reduced the patent fees for Educational Institutions by 80%.

The cornerstone laid down by National IPR policy and the efforts made by the Government has transpired into the following achievements for India:

• Filing of patents have increased from 42763 in 2014-15 to 66440 in 2021-22, more that 50% increase in a span of 7 years
• Nearly five times increase in grant of patents in 2021-22 (30,074) as compared to 2014-15 (5978)
• Reduction in Time of patent examination from 72 months in Dec 2016 to 5-23 months at present, for different technological areas
• India’s ranking in Global Innovation Index has increased to 46th in 2021 (+35 ranks) as compared to from 81st in 2015-16

Indian Fintech Signzy Receives US Patent for Using Augmented/Virtual Reality in Metaverse Banking

Gets a US patent for digital banking transactions in the metaverse using Virtual and Augmented Reality

Supports VR models of bank branches that perfectly reproduce real world branches

Also supports metaverse currencies and financial instruments, including crypto currencies

In a major breakthrough for enabling seamless banking and financial transactions in the metaverse, India-based Signzy Technologies today announced that it has received a US patent for new customer signup and onboarding in metaverse, using Virtual and Augmented Reality. The patent number 11270509 has been granted by the United States Patent and Trademark Office.

The application for the patent was filed in 2020 by the three Signzy Cofounders Ankit Ratan, Arpit Ratan, and Ankur Pandey along with their co-inventors and fellow colleagues at Signzy Dinesh Avula, Chitrangada Patra, Aadalarasan Bhavani Saravanan, and Shiv Shankar Subudhi.

Signzy’s patent marks a breakthrough innovation for banking in the metaverse as it describes a methodology for real-time onboarding of customers in virtual reality, across devices, by any financial institution. The company’s solution comes with advanced scalability protocols that allow a large number of concurrent users to navigate inside the virtual reality (VR) and augmented reality (AR) models of one or more financial institutions.

>Once deployed, banks and financial institutions can leverage Signzy’s patented technology across varied financial products, both existing as well as those still to be invented in the future for metaverse, with the assurance of industry-leading scalability and security. The technology also supports metaverse currencies and financial instruments, including crypto currencies.

Ankur Pandey, cofounder and CTO of Signzy said, “Over the years, Signzy has brought to market a series of breakthrough innovations that have redefined digital banking. Today, we are pleased to announce that we have invented the future of banking in the metaverse by patenting a breakthrough methodology for real-time onboarding of customers via virtual reality or augmented reality."

Ankit Ratan, cofounder of Signzy said, “Banks and FIs can no longer ignore the expanding world of Metaverse and the impact it will have on their business in the near future. The metaverse offers a huge growth opportunity to attract young customers and many even pave the way to creating new product lines and eventually add newer business models. The grant of this patent by the USPTO marks an important milestone towards enabling this vision."

Arpit Ratan, cofounder of Signzy said, "The grant of this patent to Signzy opens up many exciting opportunities for financial services delivery in the metaverse, covering both traditional banking services and those involving digital and crypto currencies. Further, our technology supports both existing products, as well as products that are yet to be invented in the future for metaverse."

Signzy’s technology enables banking customers to interact with their bank in a virtual reality (VR) model that perfectly reproduces a physical bank branch or office. These VR models can be richly detailed with support for describing a bank’s own environment including wall units, wall finishing, roofing, basic building, electrical connections, electronic components, flooring, doors, service counters, furniture, paints, sanitary fittings, physical items, decorative and hardware. The technology further supports detailing of environmental properties of the branch of a bank or a financial services provider, including brand, model, size, colour, type, finish, weight, quality, material, specifications, designs, shapes, and dimensions. 

The technology would support a variety of banking transactions in the metaverse, including general enquiry services, car loan services, house loan services, education loan services, net banking services, commercial banking services, opening saving accounts, home equity, stock exchange investment, opening accounts, documents verification services, overdraft facility, credit card services, fixed deposit services, health insurance services, personal accident insurance, retirement plan services, and risk management services.

Signzy has so far filed six AI patents in the USA and five in India. The company works with over 250 FIs globally including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and strong global partnership with Mastercard and Microsoft.

Govt Launches 'KAPILA' for Patent Awareness

The Government has launched a campaign namely Kalam Program for Intellectual Property Literacy and Awareness Campaign (KAPILA) for Intellectual Property Literacy and creating patent awareness on 15th October, 2020. 

The objectives of the scheme include creating awareness regarding Intellectual Property Rights (IPR) in Higher Education Institutions(HEIs), enabling of IP protection of inventions originating from faculty and students of HEIs, development of Credit Course on IPR, training program on IPR for faculty and students of HEIs and sensitization and development of vibrant IP filing system. So far, total 46,556 users have been registered for KAPILA.

This information was given by the Union Minister for Education Ministry, Shri Ramesh Pokhriyal ‘Nishank’ in a written reply in the Rajya Sabha on 4th Feb.2021.Last month, according to a study by IFI CLAIMS Patent Services, stated that demand for global patents remains strong despite the pandemic according to IFI CLAIMS Patent Services which just published its annual analysis of the world's patent leaders.

In December, Prof Chandra Shekhar Sharma from IIT Hyderabad filed patent for the technology which can reduce payload mass & launch costs of planetary missions and even demonstrated the technical feasibility of Lithium- CO2 battery in simulated Mars atmosphere for the first time.

Patent Filed for IoT-based Organic Fertilizer, By Mumbai-based Universal Business School Professor and Her Team

A senior faculty, Dr. Pranjali Madhur, Associate Professor & HOD-HR at the Universal Business School (UBS), Mumbai and her research team of 15 have recently filed for a patent for inventing IoT based mechanism for manufacturing organic fertilizers for sustainable farming in India.

The details were published with Intellectual Property, India on May 15th 2020 and the team is at present in the process of applying for a grant. 

In a statement, Dr Pranjali said --

This innovation can help make Indian farmers more independent and create awareness related to organic farming and its benefits across India. Our initial research showed that farmers are not aware of the technological innovations that have taken place in the agricultural sector,” she adds. 

How does it work?

• An automatic sluice-controlled valve fitted with a temporary reservoir to allow all ingredients and a central storage container is fitted with an automatic D.C drive stirring device.
• Mobile App to monitor the sensors for measuring the Nitrogen, phosphorus, potash and pulsating pump set operated by farmers sitting at home. 
• The system is sustainable as solar panels fitted for complete power supply to all utilities can inhibit crop growth, increase allergenic pollen production. Surplus nitrogen consumed during crop fertilisation can cause the release of greenhouse gases such as nitrous oxide and carbon dioxide into the atmosphere. The main ingredients of organic fertilizer consist of cattle Sade urine & cow dung mixture, wastewater release from urinals; kitchen rooms form the domestic house and green leaves.

According to her this entire process is self-sustainable and includes solar panels to provide power supply, system to create organic fertilisers and a phone mobile app that any farmer whether literate or not can use from the comfort of his home to monitor the sensors and create and measure the exact proportions of fertiliser contents that are needed to be given to his/her crops."

"We believe that B-schools need to go out of the realm of business and truly impact society and agriculture is one of the key employment generation sectors in India. Our expertise in technology impacting business and the ability to bring innovative solutions at scale into the classroom, allows our students to learn how new solutions can be designed for some of the complex problems facing India" says Tarun Anand, Chairman, UBS.

Data suggests that IOT patent filings have grown significantly over the last few years. As per a recent study conducted by the National Association of Software and Service Companies (NASSCOM), over 5,000 applications in the IOT domain were filed in the last 5 years. 90% of these IOT manufactures can be attributed to the 'industry sector.'

Small Biz Lending Fintech Platform U GRO Capital Seeks Patent for its Unique Score-Card based Underwriting Model

• Becomes first fintech player to apply for such patent for its underwriting model
• Aims to target 250,000 small businesses and extend loans basis data analytics amounting to INR 30,000+ crore in next 4 financial years using this model

U GRO Capital, a BSE listed, small business lending fintech platform, today announced that it has filed an application with the Indian Patent Office for its distinguished methods and systems for modelling scorecards. This has allowed the company to penetrate in a highly unstructured segment, which is driven by physical processes. The model tackles the unavailability of appropriate MSME database, by utilizing its unique classification technique leveraging the proprietary knowledge base and strength of statistical models.

The distinctive underwriting model generates credit score cards customized to suit the peculiarities and nuances of varied business enterprises. This is done by analysing the historical loan delinquency patterns and cash flow within each selected business segment. The model’s utility is not restricted to businesses, as it enables effective underwriting of individual borrowers, as well. Further, it facilitates trade financing by providing assessment of downstream and upstream counterparties. Also, it provides a basis for revenue sharing in co-lending arrangements and helps estimate first loss guarantees in securitization of transactions by providing an assessment of the underlying pool.


U GRO Capital has been using this model since inception in 2018. The company has made disbursals of INR 1,700 Cr in the form of secured and unsecured loans. This model is tested to predict superior predictable defaults and improve the GNPA and NNPA levels in comparison to the traditional underwriting model and also improve the bureau defined predictable defaults of different score level. Going forward, the company aims to target 250,000 SME and MSMEs and extend loans amounting to Rs. 30,000+ crore in the coming 4 financial years.

The proprietary statistical scorecards for assessment at various stages have been developed in consultations with CRIF and CRISIL market experts. The model is able to approve credit for business enterprises within minutes, which otherwise would have taken days or weeks. Furthermore, it allows scope for progressive refinement and upgradation such that a newly identified data parameter/ variable can be integrated to derive more accurate output. The distinguished model combined with the organization’s technological capabilities in artificial intelligence and machine learning, has rendered the credit access journey in quick and highly convenient manner.

Shachindra Nath, Executive Chairman & Managing Director,U GRO.

Commenting on the patent application, Mr. Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital stated, “The MSME sector is a significant driver of the Indian economy, yet only 16% of MSMEs in India receive formal credit. A major hindrance to the credit access is the limited availability of structured data pertinent to the MSME sector. We believe that MSME financing in India is at the verge of transformation with the combination of GST, Banking Data and emergence of digital infrastructure which is underpinning this transformation. U GRO Capital’s scorecard based underwriting model lies at the centre of our mission to solve the unsolved credit gap of the SMEs. The underlying methods and system are the convergence of our deep sectoral knowledge base and our analytics capabilities. Our distinctive underwriting model compliments the digitalized processes, to provide a quick and convenient access of credit to our MSME customers."

U GRO Capital limited is a BSE listed, small business lending fintech platform. The Company is focused on addressing capital needs of small businesses operating in select eight sectors by providing customized loan solutions.