Pharma major Lupin Limited (Lupin) won the Par Excellence Award at the 33rd National Convention on Quality Concept (NCQC), organised by the Quality Circle Forum of India (QCFI). The event was held at liT BHU – Varanasi from November 26-30, 2019. Lupin’s nomination summarised its transformation project to improve the yield and quality of Cefadroxi…
Techbooze Consultancy Services Private Limited, a Business Development, Consulting and “Funding” facilitator for Startups & Enterprise, announced on January 10, 2020 that it has raised Series A funding of $15 milllion, led by Space Capital. Techbooze Consultancy Services has been in the market for over 4 years now, and has been raising capital for over…
GPX India, a global technology leader providing next-generation, carrier neutral data center services, announced that it has deployed India’s first Data Center Interconnect (DCI) together with Nokia, implemented by a licensed service provider, to connect its two data centers in Mumbai. This will ensure a reliable and high-speed up to 10 Tbps connectivity between the…
There seems to be a trouble in paradise for the Indian hospitality unicorn OYO, as Income Tax officials “visited” its Gurugram headquarters on January 10. OYO has called this raid a “routine TDS survey”. TDS stands for Tax Deduction at Source. The seven-year-old start-up is already in hot waters with net losses widening six folds…
With this investment, HighRadius becomes the first start-up to become a Unicorn in 2020. The SaaS-based startup is now valued at $1bn. Software as a service or SaaS, based financial start-up HighRadius has recently announced that it has raised $125mn in Series B round funding led by ICONIQ Capital. Existing investors like Susquehanna Growth Equity…
IBM has appointed Brenda Harvey as its new Asia Pacific general manager, following the departure of chief executive and chairman Harriet Green recently. As per media reports, an IBM spokesperson confirmed the appointment to CRN, mentioning that Harvey will replace Green despite the different title. Harvey joins from IBM USA, where she has been working…
Food delivery start-up Zomato on Friday announced that it has raised $150mn in fresh funding from Alibaba subsidiary Ant Financial. With the recent investment, Zomato is now valued at $3bn. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. So far Zomato has raised a total of $840mn in funding from multiple investors.…
AADAR, a healthcare firm in the Ayurvedic pharma, has raised an undisclosed seed funding in a round led by Sprout Venture Partners and angel investors from LetsVenture. JITO Angel Network (JAN) also participated in this funding round. The company was founded by Pratul Mangal and Aadil Shah in 2018. The company will utilize these funds…
PayU’s consumer lending business LazyPay and PaySense, India’s fastest growing digital credit platform, has announced plans to merge their business operations to build a full-stack digital lending platform in India. PayU will acquire a controlling stake in PaySense and all its assets at a valuation of $185 million. This planned merger is aligned with PayU’s…
Infosys has announced that its Audit Committee of the Board of Directors has concluded the independent investigation into allegations contained in the whistleblower’s complaints the company disclosed on October 21, 2019 and determined that the allegations are substantially without merit. The Audit Committee conducted a thorough investigation with the assistance of independent legal counsel Shardul…
Cholamandalam Investment and Finance Company Limited, one of India’s financial services companies, has raised ₹4 billion from CDC Group Plc, the United Kingdom’s Development Finance Institution and impact investor through the issuance of unsecured, subordinated, Rupee Denominated Masala Bonds. CIFCL caters to small and medium road transport operators for new and used commercial vehicles with…
Bulbul, a live video shopping app, has signed up with Unicommerce, an e-commerce enablement technology platform for managing the growth of its operations. Bulbul partnered with Unicommerce to manage its growing orders. With Unicommerce’s warehouse management and vendor panel, Bulbul gets access to fulfilment technology to scale up the operations. It will also enable seamless…
Indian hospitality unicorn Oyo is planning to lay off thousands of employees from its India and China businesses. According to media reports, the company has let go of 5% of its 12,000 employees in China partly citing non-performance as the reason and dismissed 12% of its 10,000 staff in India, one of the people close…
Housing Development Finance Corporation(HDFC) said on Thursday that it has completed the purchase of a majority stake in Apollo Munich Health Insurance for ₹1,495.81 crore. The company has acquired 51.16 per cent equity share capital of Apollo Munich Health Insurance Company after receiving approvals from competition commission of India (CCI), Reserve Bank of India and…
Escrowffrr, a unique, escrow focused, digital payments platform, has raised $150,000 in a pre-series investment round led by Inflection Point Ventures, the investor announced in an official release. The company was founded by Ashwin Chawwla in 2015. The company will utilize these funds to grow its escrow business beyond real estate as a category. In…