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Sustaining its commitment of contributing towards the well‐being of healthcare workers during the COVID‐19 pandemic, PNB Housing Finance Limited announced that it has signed a Memorandum of Understanding (MoU) with IIT Delhi. The initiative will support critical research and development (R&D) of a unique prototype material to be used in manufacturing sustainable (washable and reusable) PPE…
Maruti Suzuki India Limited, one of the largest automobile manufacturers in India, announced that it has put in place a comprehensive standard operating procedure (SoP) for its dealerships across the country. The company said that the SoP will ensure the highest level of hygiene and sanitization across all its showrooms for the safety of its…
Clover Ventures Pvt. Ltd, which operates as an agricultural-technology firm focussed on providing greenhouse-grown fresh produce, announced it has raised Rs 7 crore in debt funding from Alteria Capital. Existing investors that took part in the debt funding round include venture capital firm Omnivore, Accel and Mayfield India. “The recently closed Series A round alongside…
MetaMorphoSys, a SaaS-based digital insurance platform, announced it has raised pre-Series A funding led by early-stage venture capital firm Good Capital. Other investors that participated in the round include Trifecta Capital managing partner Rahul Khanna, MetaMorphoSys said in a statement. However, it did not disclose the amount it raised. The Pune-based company will use the funds…
Indian IT major Wipro recently announced that it has signed a Memorandum of Understanding (MoU) with the state government of Maharashtra under which it will repurpose one of its information technology campuses at Hinjewadi in Pune to a 450-bed intermediary care COVID-19 hospital in four weeks and hand it over the state government. The hospital…
Indian tech company Wipro was recently sent a notice by the Pune Labour Commission after complaints and media reports regarding the company benching 300 employees surfaced. As per the notice sent by the commission, the company has been asked to take necessary steps regarding the same, failing which legal action will be taken against them.…
Tech giant and chipmaker Intel Corporation recently announced it has acquired Israel-based Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900mn. Moovit is known for its urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. The addition of Moovit…
Massachusetts-based online dating platform digiD8 has recently announced a key addition to its Advisory Board. The company has roped in Ravi Mehta, the former Chief Product Officer at Tinder to accelerate the strategic product roadmap for the company. “Advances in science and medicine provide a new level of insight into health and wellness. I am…
San Francisco-based Treasury Prime recently announced that it has raised $9mn in its Series A funding round. The funding round led by Amias Gerety of QED Investors with participation by Jason Lemkin of SaaStr and Hans Morris of NYCA Partners. The recent funding round builds on Treasury Prime’s previous $2.5mn seed round. With the latest fund infusion, the company’s total funding nears $11.5mn.…
Budget-carrier Vistara recently announced that it has asked its senior employees to take compulsory unpaid leaves for upto four days in the months of May and June. In an attempt to sustain their businesses and prevent cash-burn the airline’s CEO Leslie Thng announced the decision to cut down employee-related costs. “For the month of May…
IT Data Center maintenance company Park Place Technologies recently announced that it has appointed Mohammed Atif as the Director of Business Development for India. Atif brings more than 19 years of experience in the IT Service industry, with expertise in leading sales initiatives and partnerships. With previous experience in third party maintenance and across system…
Varthana, a Bengaluru-based startup that provides loans and support to affordable private schools in India, said it will receive a $15 million loan from an American financial organisation. “An American financial organisation has agreed to sanction $15 million loan to an Indian education startup to expand the access to quality education by providing critical financing…
ApplyBoard, the online platform that transforms how students access international education opportunities, announced it has raised CAD 100 million (approx. US $71.1 million) in Series C funding. The funding round was led by Drive Capital and joined by certain funds managed by Fidelity Investments Canada ULC, Business Development Bank of Canada, and existing investors including…
Tupperware Brands Corporation announced Marco Brandolini as the Company’s Vice President, Commercial for Europe, the Middle East and Africa (EMEA). He will report to Patricio Cuesta, President, Commercial, Worldwide, along with Luis Vazquez, Senior Vice President, Sales & Marketing; Christine Wong, Vice President, Asia Pacific; and Hector Lezama, Senior Vice President, Expansion & Turnaround Markets. …
Ara Partners, a private equity firm specializing in industrial decarbonization investments, announced that it has closed its debut fund, Ara Fund I, LP, with approximately $400 million in capital commitments. Ara Partners was co-founded by veteran investors Charles Cherington and Troy Thacker. The Fund will invest in companies in North America and Europe that are…