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American magazine and multi-platform publisher, The Atlantic recently announced that it is laying off 68 employees as the coronavirus pandemic diminishes their event and advertising revenues, reported The New York Times. The cuts represent 17% of its staff. In an internal memo sent by Chairman David Bradley, the staff was informed that even though the…
International Finance Corporation announced that it has plans to invest $10 million in Onsitego, India’s customer service company for personal devices, gadgets, small and large home appliances, according to a VCCircle report. In a disclosure, IFC said the investment will be made through by subscribing to preferred shares in Mumbai-based Onsitego, which announced its Series…
Quick Heal Technologies, a provider of cybersecurity and data protections solutions to consumers, businesses and Government, announced a strategic investment of Rs 2 crores in Ray Pte. Ltd., a Singapore based start-up specializing in next generation networking and wireless technology. The investment is a part of Quick Heal’s ongoing efforts to invest in disruptive technologies…
Info Edge Ltd, one of India’s premier internet based business that runs Naukri.com and 99acres.com, announced that it will be investing in two companies via IE Venture Fund I, its investment vehicle that focusses on technology-based startups, according to a VCCircle report. The investments will be made in Fanbuff Esports India Pvt. Ltd, which operates…
Skyflow, a California-based startup that builds privacy APIs powered by a customer data vault, announced that it has raised $7.5 million in a seed round led by Foundation Capital. The startup was founded by IIT-Kharagpur alumnus Anshu Sharma and Prakash Khot in 2019. Other investors that took part in the funding round include former GE…
Layoffs have become a common phenomenon in such a time of crisis. Every other day, we get news about small and big organizations laying off employees as the coronavirus pandemic is drying up revenues and companies opt for tough cost cutting measures to stay afloat. In recent news, diversified financial services firm Indiabulls Group has…
LT Foods announced that SALIC (Saudi Agricultural & Livestock Investment Company) has acquired a stake in its subsidiary Daawat Foods Limited through SALIC’s subsidiary United Farmers Investment Company. The transaction in DFL entails acquisition of 29.81% stake of India Agri Business Fund, sponsored by Rabobank and 0.1% stake of REAL Trust, by United Farmers Investment…
In order to make new car purchase easy and affordable, Maruti Suzuki India Limited announced a partnership with Cholamandalam Investment & Finance Company Limited (CIFCL), a Non-Banking Financial Company. The partnership will provide customised auto retail financing solutions to retail buyers. The new solution “Buy Now Pay Later Offer’’ is aimed to provide customers with…
PathSpot, a New York-based biotech company that protects food service companies and their customers from the threat of food-borne illness, announced the closing of $6.5 million in a Series A round led by Valor Siren Ventures I L.P. Till now, the company has raised a total of $10.5 million in funding. Existing investors FIKA Ventures…
Reliance Industries Limited and Jio Platforms Limited announced that KKR will invest ₹ 11,367 crore into Jio Platforms. This transaction values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. This is KKR’s largest investment in Asia and will translate into a 2.32% equity…
Clara Insurance, a US-based insurance technology company that provides financial support to people with health recovery, announced that it has raised $5.5 million in seed funding led by Two Sigma Ventures, with participation from Founder Collective, RGAX LLC, SymphonyAI, and others. The company will utilise the financing to launch a modern supplemental benefit, powered by…
GlaxoSmithKline plc and Samsung Biologics have entered into a partnership to provide GSK with additional capacity to manufacture and supply GSK’s innovative biopharmaceutical therapies. Under the terms of the agreement, Samsung Biologics will provide GSK with additional capacity for large-scale biopharmaceutical product manufacturing. This capacity will be flexible depending on GSK’s future needs and will…
Deutsche Bank’s top managers will waive one month of fixed pay in an effort to cut costs as Germany’s largest lender deals with the fall-out of the coronavirus crisis. As per a Reuters report, members of the management board as well as the bank’s group management committee will be affected by the move, chief executive…
The coronavirus pandemic has completely altered the dynamics of workplaces. Until a few months back, work-from-home meant no work and only an excuse to take a paid leave. But due to the pandemic, that notion is changing completely. During the pandemic, many major corporations had asked their employees to work from home till December end.…
Germany-based investment banking company Deutsche Bank recently announced the appointment of Kamran Khan for the newly created role of Head of ESG for Asia Pacific. In his new role, he will be responsible for developing and coordinating the regional business strategy around ESG across all of the bank’s business divisions in the region. Kamran will…