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Iron Pillar, a Mumbai-based venture growth investor specializing in mid stage technology companies, announced that it has raised $45 million top-up fund. The fund will provide Iron Pillar additional capital to back specific Fund I portfolio companies that are thriving even in the current market conditions. Fund I has already made eight investments, with very…
EIG Global Energy Partners (EIG), a US-based leading institutional investor in the global energy sector, announced the successful final close of EIG Global Project Fund V(GPF V) with total commitments of $1.1 billion, nearly 50% higher than the Fund’s $750 million target. EIG also raised an additional $1.5 billion of commitments in the form of…
Chinese mobile handset manufacturer OPPO recently suspended operations at its Noida factory after six of its employees tested positive for the coronavirus. The company has said that the operations will remain suspended until the company completes the screening of all 3,000 employees at the plant. The company had resumed the operations on May 15 after…
Cairn’s Chief Executive Officer Ajay Dixit has decided to quit the company at month-end. He is the fifth CEO of billionaire Anil Agarwal-led Vedanta’s oil and gas division to quit the firm. Cairn was taken over by the mining baron eight years ago. According to a PTI report, Dixit has decided to not seek an…
Accenture announced that it has acquired Byte Prophecy, an automated insights and big data analytics company based in Ahmedabad, to meet the growing demand for enterprise-scale AI and digital analytics solutions across the region. The acquisition will add nearly 50 data science and data engineering experts, with a particular focus on insight automation, to Accenture…
Just days after Zomato announced its decision to lay off employees, food delivery unicorn Swiggy also said that it is laying off 1,100 employees across functions over the next few days. In a blog written by Sriharsha Majety, Co-Founder and Chief Executive Officer, the company said, it will be laying off 1,100 employees across grades…
Laalsa, a Hyderabad-based cohesive food ordering and fulfilment platform that brings customers and restaurants under one umbrella, announced that it has raised $1 million funding from Angel Investors. The company will utilise the fund infusion to boost expansion in India. Currently, it is operating in four major cities – Hyderabad, Vizag, Bengaluru and Chennai. Suresh…
The Government of India recently announced the fourth phase of nationwide lockdown but with some relief to businesses. E-commerce companies who were only delivering essential products until now, are finally allowed to deliver all products in the red zones. As per the new guidelines issued on May 17 for the third extension of the lockdown,…
Winuall, a Bengaluru-based online education platform that helps coaching institutes go digital, announced that it has raised an undisclosed amount from Ankit Bhati, Co-founder of Ola, and Nitin Gupta, Head of Engineering, Milkbasket, along with other angel investors. The startup said it will utilise the funds for expanding the business and curating more content providing…
LetsTransport, a Bengaluru-based intra city logistics firm that aggregates light commercial vehicles for urban logistics, announced that it has received an investment of Rs 13 crore from InnoVen Capital, according to YourStory report. Ashish Sharma, CEO of InnoVen Capital India said in a statement: “We continue to be bullish on the logistics space and expect…
Praj Industries, a Pune-based process solutions company with expertise in integrated offerings for bio-energy, high purity water solutions and engineering led businesses namely zero liquid discharge solutions, critical process equipment & systems and brewery plants, announced it has entered into an agreement with Sekab E-Technology AB, Sweden, to upgrade and commercialize base technology to produce…
Following the departure of Paytm Money CEO Pravin Jadhav from the company last month, its Chief Technology Officer and Operations Head have also resigned from their positions. Fintech unicorn Paytm has been witnessing a lot of departures from the company’s top management recently. The company which has aggressively spread its operations into various fields is…
With work for home becoming the new normal for millions of Indian professionals, Airtel Business – the B2B arm of Bharti Airtel, announced that it has launched Work@Home solution for enterprises. “Airtel Work@Home is India’s first enterprise grade solution designed to enable employees operate efficiently and securely from their homes. With a range of connectivity…
Eggoz, a Bihar-based egg producer and agritech startup, announced it has raised Rs 2.5 crore as part of its seed funding to fuel its growth and expansion plans. Earlier, the startup had raised Rs 1.2 crore from a clutch of angel investors. Investors that took part in the seed funding round include Tracxn Labs, Angellist,…
California-based smart electric panel company Span.io recently announced that it has raised $10.2million in Series A funding round. The funding round was led by ArcTern Ventures. The round also saw participation from Capricorn Investment Group, Incite Ventures, and a few existing investors. With the new funds, the company plans to meet the demand and scale…