Adani Green Energy Limited and Total Gas & Power Business Services SAS have entered into a binding arrangement for investment of about $510 million for acquisition of 50% stake and other instruments in a joint venture company, which will house 2,148 MWac operating solar projects presently 100% owned by AGEL. The rest 50% stake in…
Strides Pharma Science Limited (Strides) announced that its step‐down wholly‐owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International, Inc.(Pii) to acquire 18 ANDAs (Abbreviated New Drug Application) for the US market. With access to these products, Strides will significantly expand its niche offerings…
PayU India co-founder Shailaz Nag’s new startup, Dot, has raised an initial seed funding of around $8 million, led by PayU and Fosun RZ Capital to help offline merchants with their digitization journey. The funding round also saw participation from Info Edge Ventures and other well-known angel investors, which include Snapdeal founders Rohit Bansal and…
Embibe, a Bengaluru-based edtech startup, announced that it has raised about Rs 89.91 crore from Reliance Industries. Reliance is the existing investor and shareholder in the edtech startup. Embibe was founded by Aditi Avasthi in 2012. Earlier, Reliance Industries had invested about $180 million in the startup over a period of three years. A part…
Cepton Technologies, a provider of intelligent lidar-based solutions, announced that it has raised over $50 million in Series C funding. This brings Cepton’s total funding to nearly $100 million, providing a strong foundation to substantially ramp up its R&D efforts, expand its footprint in the automotive market and support major customers worldwide. The latest funding…
Info Edge, one of India’s premier internet-based business companies, announced that its IE Venture Fund I is to invest about $1.45 million in Dot (Dotpe). Dot was founded in 2019. Dot’s vision is to enable offline enterprises to drive digital transformation in turn significantly improving offline experience and engaging closely with their customers to sell more,…
Indian Oil Corporation has announced that the company has firmed up its equity participation in Phinergy for the production of metal-air batteries. The company has taken a minority equity stake in Phinergy (Israel). Phinergy specialises in aluminium-air (Al-Air) and zinc-air battery systems that have great potential applications in electric mobility and stationary applications. IndianOil’s collaboration…
Frog, a bicycle brand owned by Mumbai-based AlphaVector, announced that it has raised fresh funds from Avaana Capital. Rohit Bansal and Kunal Bahl as part of Titan Capital have also participated in the fresh funding round. Frog is focusing on innovations to improve the bicycling experience for everyone. The company is also trying to disrupt…
Fleetx.io, a fleet management and predictive analytics startup, announced that the company has raised $2.8 million in a Series A round of funding led by Singapore-based Beenext alongside existing investor India Quotient. The Series A funding round also saw participation from Snapdeal founders Kunal Bahl and Rohit Bansal, Rajesh Ranavat (MD, LiFung Capital), and Rohan…
Naari Pharma Private Limited announced that it has received an equity investment of about Rs. 125 crore from Ascent Capital, an India-focused growth capital provider that has backed more than 60 entrepreneurs build businesses across diverse sectors such as pharmaceuticals, healthcare, technology, financial services and consumer brands. Commenting on the development, Prithi S Kochhar, Co-Founder…
Centrum Housing Finance Ltd, an affordable housing finance company, announced that a fund managed by Morgan Stanley Private Equity Asia will invest ₹190 crore to acquire a significant minority stake in the company. The investment is seen as first such external institutional funding in the Mumbai-based lender promoted by Centrum Capital Ltd. As per the…
Moda Operandi, an online marketplace of right-off-the-runway luxury fashion, accessories and home decor, announced that the company has raised $100 million. The company plans to utilise funds to invest in its platform and technology as well as to continue growing business overall. Founded in 2010, Moda Operandi offers products from some 1,000 brands and designers…
Bayside Media Private Limited, which operates a flagship management training program called SEAL Professional has recently announced that it secured an undisclosed amount of investment in the Pre Series A round from Mumbai-based venture capital fund Equanimity Ventures. The company plans to use these funds for program support, development, and marketing. The company also aims…
Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd., has announced plans for a significant investment in Acrelec Group SAS, a responsive self-service solutions provider for the Quick Service Restaurant and retail industries. Acrelec focusses on developing people-centred experiences through self-service kiosks, digital signage as well as mobile ordering and collection solutions. In…
Forward Health, a London-based healthcare communications tool, announced that the company has raised funds from Skip Capital for global expansion. As part of its rebranding strategy, the company will be known as Pando Health. The company will utilize the funds to scale Pando’s reach outside of the UK. In Q1 2020, Pando will become available…