Kerala’s first unicorn Open to support pickle brand to help struggling individuals

BL Kochi Bureau | | Updated on: May 05, 2022

KSUM’s Fintech Summit 2022 to bear witness to humanitarian gesture

Still hogging the limelight on becoming Kerala’s first and India’s 100 th unicorn, fintech start-up Open Financial Technologies is now planning to support a pickle brand, taking a little deviation from its home domain to help three struggling people from different parts of the State.

The venture will support and bring together 10-year-old Dyneeshya, 35-year-old Aswathy and Sreekuttan, who are facing various challenges in life.

Open unveiled its plan to support ‘Magickels’ at the Fintech Summit 2022, organized in Kochi by Kerala Startup Mission on Thursday.

The Class 4 student Dyneeshya’s mother is visually challenged and her father suffers from a spinal disease. The little girl ekes out a living for the family by selling pickles in a push-cart at Palluruthy in Kochi. Aswathy, who is afflicted with cerebral palsy, sells lottery tickets in a wheel-chair at Uliyakovil in Kollam. Meanwhile, Sreekuttan, despite his cerebral palsy condition, is an active vlogger.

Mabel Chacko, Co-Founder and COO, Open Financial Technologies, said she came across the lives of these three people through their stories in the media. “Open has decided to bring them at the helm of the pickle brand venture. To start with, Magickels will be available in lemon, fish and garlic variants,” she said.

To be supported through ‘OpenUp’

She said Open has also included Magickels along with five other start-ups in their accelerator programme ‘OpenUp’, to be conducted in association with KSUM.

Magickels will be financed in setting up a basic facility for the unit, in developing a marketing strategy and in product development through this programme. The venture will also get a financial aid of ₹20 lakh, Chacko added.

John M Thomas, CEO, KSUM, and Kerala IT Parks, said Open is the first unicorn start-up from Kerala with a valuation of $1 billion and it’s a humanitarian gesture to start a pickle brand venture to support the down-trodden .

KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the State.

Published on May 05, 2022
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