HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.
Ola Financial Services, the financial arm of ride-aggregator Ola cabs recently announced that it has raised ₹200Cr in fresh funding from Matrix Partners and Falcon Edge. According to regulatory filings, Gemini Investments LP, Arun Sarin’s family office, and Alpha Wave Holdings also participated in the round.The company is currently in its fundraising mode and is…
Suryoday Small Finance Bank (SSFB), a Mumbai-based Non-Banking Finance Company, announced that it has closed an equity funding worth Rs 62.14 crore from existing investors including Gaja Capital, Kotak Life, Lok Capital, TIAA, and Kiran Vyapar. The company will use the current financing to boost expansion. It has plans to expand to 100 branches within…
Investment banking company JP Morgan recently announced that its current Chairman for South and Southeast Asia Kalpana Morparia is set to retire after a decade-long stint with the company. The American bank notified that she will hold her position till the first quarter of 2021 fiscal year. She will be replaced by former UTI Mutual…
Bharti Airtel, India’s largest integrated telecommunications company, and Nodwin Gaming, South Asia’s leading Esports company, announced a partnership to further grow Esports in India. Given India’s large youth population and rapidly growing internet penetration, Esports has the potential to become a large part of the country’s mainstream sporting culture. It is estimated that by 2021,…
SMT (Sahajanand Medical Technologies Pvt Ltd), a global medical device company with presence in over 75 countries, announced that it has acquired a medical device firm Vascular Concepts. Post acquisition, Vascular Concept will retain its distinct brand and independence. Swaminathan Jayaraman, CEO of Vascular Concepts will continue to manage the operation of the company. Vascular…
Infosys, a global leader in next-generation digital services and consulting, announced that it has partnered with Zurich-based Avaloq to provide end-to-end wealth management capabilities through digital platforms. Infosys will be a strategic implementation partner for Avaloq’s wealth management suite of solutions to help clients modernise and transform their legacy systems into cutting-edge digital advisory platforms,…
Novavax Inc, a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, announced the acquisition of Praha Vaccines, a part of the Cyrus Poonawalla Group, in an all cash transaction of approximately $167 million. The acquisition includes a biologics manufacturing facility and associated assets in Bohumil, Czech Republic. The facility is expected to provide…
U GRO Capital, a Mumbai-based BSE listed technology focused small business lending platform, announced that it has entered into a partnership with Global Value Creation Partners (GVCP) to enable the former’s growth as a leading impact financing company for small businesses, according to a media report. As part of the partnership, GVCP has placed two…
After briefly suspending operations at its Chennai factory, Finnish telecom equipment manufacturer, Nokia said that it has resumed operations at the plant with minimum required strength. Earlier last week, the company had suspended operations as 42 of its employees were reportedly tested positive for COVID-19. Although Nokia is allowed to run the factory with 33%…
Oyster, a US-headquartered software-based employment platform designed to fix the broken international hiring model, announced that it has completed the acquisition of Carrom, a player in the cross-border hiring enablement space. Financial details of the deal remain undisclosed. Post acquisition, Carrom founder and CEO Sooraj Chandran will join the Oyster product team to lead and…
Jeff Bezos-led online retail giant, Amazon reportedly is in advanced talks to buy self-driving startup Zoox Inc. The move is expected to expand the e-commerce giant’s reach in autonomous-vehicle technology According to a Wall Street Journal report, the deal will value Zoox at less than the $3.2bn. The self-driving startup has achieved a similar valuation…
The National Bank for Agriculture and Rural Development (NABARD) recently announced that it has appointed G R Chintala to the position of Chairman. The apex agri-finance institution on Wednesday announced that Chintala will replace H K Bhanwala. Bhanwala had been heading the organisation for more than six years. Prior to his appointment, Chintala was the…
Gurugram-based cloud kitchen startup, Hoi Foods recently announced that it has raised $2mn in pre-Series A funding round. The funding round was led by equity crowdfunding platform 1Crowd. The funding round also saw participation from Sprout, Angelist, Samar Singla – Founder of Jugnu, Jaideep Mehta – CEO of VCCircle, Mukund Kulashekaran – SVP of Business…
Remedo, a telemedicine startup focused on providing doctors with a platform to connect with their existing patients, announced that it has raised an undisclosed amount in its pre-Series A round from River Rock Ventures. Inflection Point Ventures also participated in the round with other investors including AngelList, Mohit Satyanand, Mitesh Daga (TPG Capital) and Aditya…
Ola Electric Mobility Pvt Ltd announced the acquisition of Etergo BV, an innovative electric scooter OEM, based out of Amsterdam, the Netherlands. Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric. With this acquisition, Ola Electric has also announced its entry into the premium electric two-wheeler market, both globally…