Bengaluru-based travel tech startup Treebo has recently asked its employees to opt for voluntary resignations as a result of a sharp decline in sales due to the ongoing coronavirus pandemic. According to media reports, Treebo is in the process of letting go of 30-35% of its 400-strong workforce and the company’s co-founders and leadership team…
Embibe, a Bengaluru-based ed-tech startup secures an investment of Rs 500 crore from Reliance. According to the Reliance company’s filings with the Ministry of Corporate Affairs, Reliance Industries will invest an additional Rs 500 crore in Embibe as it doubles down on the education technology venture it had acquired in April 2018. About Rs 30…
Amazon, one of the world’s largest online retailers, announced it has pumped in Rs 284 crore in Amazon Retail, the unit which sells grocery and food items on the India marketplace, according to regulatory documents sourced from business intelligence platform Tofler. The current funding is a result of rising demand for grocery and food items…
Airbnb, a community marketplace for people to list, discover, and book unique accommodations around the world online announced it has secured investment worth $1 billion from equity firms Silver Lake and Sixth Street Partners. The investment will bolster its finances at a time when the coronavirus outbreak has roiled the travel and leisure industry. The…
It’s hard to predict how markets will react post the coronavirus crisis, so in order to absorb any unprecedented shock that could impact small businesses, major companies are holding the baton and announcing their support to small businesses thrive in such hard times. Visa Foundation has come up with a plan to support such organisations…
Coherent, Inc. and its Board of Directors have announced the appointment of Andreas “Andy” W. Mattes as its new President and Chief Executive Officer and a member of the Board of Directors, effective immediately. On Andy Mattes’ recommendation, Coherent’s Board of Directors has also appointed Mark Sobey, PhD, a 13-year senior executive of the company,…
Aludyne, a global lightweighting solutions and components supplier to the mobility industry, announced the appointment of Conrad M. Hein as Chief Financial Officer. He will report to CEO and President Andreas Weller. In his new role, Hein will manage Aludyne’s IT and Supply Chain organizations and will direct all financial functions of the company including…
Gurugram-based foodtech unicorn Zomato recently announced that it has raised $5mn in its Series J funding round. The funding round was led by Pacific Horizon Investment Trust PLC through its agent Baillie Gifford and Company. According to company regulatory filing, Pacific Horizon has been allotted 1,177 Compulsorily Convertible Cumulative Preference Shares (CCCPS). Each of these…
Food delivery platform Swiggy has recently raised $43mn in its ongoing Series I funding round. The funding round was led by existing investor Tencent and saw participation from Ark Impact Asset Management, Korea Investment Partners (KIP) and MACM India Growth Fund. The company had initiated its Series I round in February and had raised $113…
NTPC, formerly known as National Thermal Power Corporation Limited, has recently announced the appointment of Dillip Kumar Patel as Director of Human Resources. Patel has over more than three decades of experience in my line and HR functions. After gaining work experience in (Mechanical Maintenance & CHP Operation) and Employee Development Centre (EDC) at Korba,…
Germany’s flag carrier Lufthansa is reportedly looking for a new Chief Financial Officer in the midst of a crisis created by the global coronavirus pandemic. Lufthansa recently announced that its Chief Financial Officer Ulrik Svensson has resigned citing health reasons. The 58-year old executive had been a member of the company board since January 1,…
Global payment and banking solutions provider i2c Inc. recently announced the appointment of banking veteran Tracy Seng as EVP, Head of Global Client Success at i2c. Seng will directly report to i2c President Jim McCarthy and is based at i2c headquarters in Silicon Valley. In her new role, Seng will be responsible for leading account…
Management consulting firm Arthur D. Little recently announced the appointment of Barnik Chitran Maitra as Managing Partner of its India office. In his new role, Barnik’s goal is to build the company’s regional footprint by serving leading institutions, ensuring a pre-eminent position for ADL in India and South Asia. Barnik has more than two decades…
Unimoni Financial Services recently announced the appointment of V George Antony as Executive Vice-Chairman of Unimoni India. Antony retired as Managing Director of the company in 2017 and was a Non-Executive Director and Vice-Chairman to the Board since then. In an official press release, Unimoni said, “Considering the current scenario and need of the company,…
Korea-based global pharmaceutical company Yuyu Pharma recently announced the appointment of Robert Wonsang Yu as President and Chief Executive Officer w.e.f April 6, 2020. Prior to joining Yuyu Pharma in 2008, Robert worked at Novartis in 2004 as a Sales Representative in New York. He was also a Training and Sales Force Effectiveness (SFE) Manager…