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Startup IPO: Alphalogic Techsys Limited gets BSE nod for its IPO

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Alphalogic Techsys Limited gets in-principle approval from The Bombay Stock Exchange to open its IPO and list on the BSE Startup Platform.

Startups in India can raise funds through initial public offerings! This fact will be substantiated when Alphalogic Techsys Limited will come up with its IPO later this month. It is expected that Alphalogic will be the first startup to be listed on the BSE Startup Platform. BSE received IPO applications from two companies, since the launch of the platform in December 2018. Alphalogic received the BSE nod to open it’s IPO and list on the startup platform.

Alphalogic, a Pune based boutique software company, has been growing at a CAGR of 40% in the last 4 years. In FY 2018-19, the company clocked a stupendous growth rate of 120 per cent. The IPO is going to further fuel the growth rate and will play a pivotal role in the company’s future expansion.

Anshu Goel, Managing Director of Alphalogic, exalts about the company’s future plans, and states, “We have plans to expand our business in the European geography, and are planning to hire fresh talent to grow our team and business. We are focusing on the latest technologies, such as artificial intelligence, machine learning, cloud computing and so on. The capital raised through the market will enable us to expand globally and in a more productive manner.”

The company has its clientele in more than 12 countries around the world, and has already worked on some major projects for clients in US, UK and Australia. With a team of seasoned technocrats, the company is capable of delivering cutting-edge technological solutions for its clients.

When asked what made him to think about going the IPO way for funding, Anshu Goel opines, “IPO is testament of the company’s maturity and stability in terms of processes and business. It is a dream come true for a business to get listed on BSE. It’s more sensible to raise capital from the market than queuing up before VCs and institutional investors. When you raise funds through an IPO, you gain complete control of your business, which may not be the case when getting funds from a VC. Moreover, the BSE has created this wonderful platform for startups, like ours, and we must take advantage of it.”

Many startup consultants believe that the BSE will have a tough time ahead screening a lot many applications from prospective startups. Alphalogic has shown the way and startups will now dare to tread on it.

To know more about Alphalogic and its products and solutions, one may visit the website ​https://www.alphalogicinc.com/​.

About Alphalogic Techsys Limited:

Alphalogic Techsys Limited is a boutique Software Consulting Firm that helps its clients with their digital transformation needs. Alphalogic’s motto is Making Software Simple. Alphalogic has its development centre in Pune, India but serves its customers globally. Alphalogic works with clients from early stage start-ups to established SMBs and Fortune 500s from over 12 countries.

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Business

Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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