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Dormer Pramet, a division within Sandvik Machining Solutions, announced that it has reached an agreement to acquire the entire business of the Indian company Miranda Tools, comprising manufacture of High Speed Steel and solid carbide round tools. “The acquisition is aligned with Sandvik Machining Solutions’ focus on strengthening our round tools offer whilst also adding…
Lear Corporation, a global automotive technology leader in Seating and E-Systems, announced that Bradley M. Halverson has been appointed to the Company’s Board of Directors. Prior to this role, Halverson served on the Boards of Sysco Corporation, where he is the Lead Independent Director and Audit Committee Chairman, and Custom Truck One Source, a privately…
Digital therapeutics startup Kaia Health recently announced that it has raised $26mn in Series B funding round, bringing its total funds raised to date to $50mn. The funding round was led by Optum Ventures, Idinvest and capital300 with participation from existing investors Balderton Capital and Heartcore Capital, as well as Symphony Ventures. The company will…
Boeing, the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services, announced that it has named Michael D’Ambrose as Executive Vice President of Human Resources, effective July 6. He will succeed Wendy Livingston, who has served in an interim capacity since April. In his new role,…
GoldenPi, a Bengaluru-based online aggregator of bonds and debentures available in the secondary market, announced that it has raised Rs3.5 crore funding from Rainmatter Capital, a fund created by stock trading platform Zerodha to incubate innovative Indian fintech startups. Founded in 2017 by Abhijit Roy and Samir Pratihar, GoldenPi is looking to open up transactions…
CSB Bank Limited, a Kerala-based full-service bank that offers retail, wholesale, and SME banking services, announced that the Board has appointed Pralay Mondal as the organization’s President (Retail, SME, Operations and IT). Mondal is expected to join the Bank in September 2020. Prior to this role, Pralay Mondal was working with Axis Bank as Executive…
Reliance Industries Limited and Jio Platforms Limited, India’s digital services platform, announced an investment of ₹ 11,367 crore by The Public Investment Fund. This investment values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. PIF’s investment will translate into a 2.32% equity stake…
Cipla Limited and Roche Products (India) Pvt. Ltd. announced that the two companies have entered into an agreement to provide better access to innovative medicines for patients in India. As part of the agreement, Cipla will be responsible for marketing and distribution of Roche Pharma’s key trademark oncology drugs viz.,Trastuzumab (Herclon), Bevacizumab (Avastin) and Rituximab…
Tata Power, India’s largest integrated power company, announced that Tata Power Renewable Energy Limited (TPREL), the Company’s wholly owned subsidiary, has received a Letter of Award from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to develop a 100 MW solar project in Maharashtra. The energy will be supplied to MSEDCL under a Power Purchase Agreement…
Investment management company T. Rowe Price and its Foundation recently announced a $2mn commitment to organizations working to fight racial injustice. The donation is a continuation of the firm’s commitment to racial equity, which became a stronger focus following the 2015 Baltimore unrest resulting from the death of Freddie Gray, said the company The Foundation…
Berlin-based employee service platform, Back Technologies, recently announced that it has raised $3.3mn in a seed round of funding. The investment was led by La Famiglia, with participation from Gradient Ventures, Google’s AI-focused venture fund. The funding round also saw participation from a clutch of angel investors such as Charles Songhurst (Microsoft’s former Head of…
Mass media company and owner of HBO, WarnerMedia recently announced that it has appointed media, entertainment and technology executive Richard Tom as Chief Technology Officer, effective immediately. He will report to Jason Kilar, CEO, WarnerMedia. Tom will succeed Jeremy Legg, who will now join WarnerMedia-parent AT&T Communications to lead the Technology Services organization as Executive…
Toyota Kirloskar Motor India Ltd recently notified that two of its employees at the Bidadi manufacturing plant near Bengaluru, have tested positive for COVID-19. The company said that due to health and safety concerns of other employees, it has temporarily suspended operations at the plant. The automaker said in a statement that the two employees…
Online payment solutions provider PayU recently announced the appointment of Shantanu Preetam to the India leadership team as Chief Technology Officer. In his new role, Shantanu will be leading technological innovations and engineering at PayU. He will be based out of Bangalore. Speaking on Shantanu’s appointment, Anirban Mukherjee, CEO, PayU India said, “The country is…
Registry management and data solutions company Somos, Inc., recently announced the hiring of Sridhar Ramachandran as its Senior Vice President and Chief Technology Officer. In his new role, he will be directly reporting to Gina Perini, Somos’ President and Chief Executive Officer. The company said in a statement, “Ramachandran will work closely with Perini as…