Bennett Coleman and Company Ltd (BCCL), which runs the Times Group, recently announced that it has picked up an equity stake in cloud kitchen startup Rebel Foods. According to a company filing, accessed by Inc42, the company said it has converted BCCL’s five-share warrants from 2017 into 714 equity shares worth ₹16.25Cr ($2.2 Mn). The…
Bengaluru-based fintech startup PhonePe recently announced that it has raised fresh capital from its Singapore-based parent entity PhonePe Private Limited, Singapore. According to a company filing, PhonePe has received $60 million (Rs 427.25 crore) in fresh capital from its Singapore parent, PhonePe Pvt Ltd. PhonePe allotted 1mn equity shares at a value of ₹10 with…
Chandigarh-based personal care and grooming startup LetsShave recently announced that it has raised an undisclosed amount of funding from Wipro Consumer Care Ventures, the venture capital fund of Wipro Consumer Care and Lighting. Existing investor Dorco also participated in the funding round. Although there is no confirmation by the company, media reports suggested that with…
American International Group, announced the appointment of Jon Hancock as Chief Executive Officer, International General Insurance. Hancock will report to Peter Zaffino, President & Global Chief Operating Officer, AIG, and Chief Executive Officer, General Insurance, and serve on the General Insurance Executive Leadership Team. In his new appointment, Hancock will lead the International operations of…
Deeptech startup AjnaLens recently announced that it has raised $1.5mn in Pre-Series A funding round. The funding was led by Maharashtra Defence and Aerospace Venture Fund (MDAVF). Other investors include Mohsin Group and high-net worth-individuals (HNI) like Nailesh Khimji, Chirayu Khimji and Jay Jesrani. It is understood that the company will use these funds to…
Harley-Davidson, Inc.announced that Matthew Levatich has stepped down as President and CEO and as a member of the Board of Directors. As per the Board decision, Jochen Zeitz to take charge as an interim CEO. The Company will utilize an external search firm to undertake a search for a new CEO. Levatich will assist with…
Vogo Automotive, an on-demand transportation solutions provider, announced raising $20 million in a funding round led by LGT Lightstone Aspada. Existing investors such as Matrix Partners India, Kalaari Capital and Stellaris Venture Partners also participated in the current funding round. As per the regulatory filings, the funds will be utilised to help Vogo expand across…
Pidilite Industries, an adhesives manufacturing company and the maker of Fevicol, announced entering into an agreement with Italy’s Tenax SPA for acquiring a 70% stake in Tenax India Stone Products for about Rs 80 crore. Tenax is an Italy-based company founded in 1956. The Tenax Group has 10 branches across five continents. The company sells…
With annual appraisals around the corner, employees are eagerly waiting for their salaries to reflect their wishes. Many might have even planned a thing or two for the additional salary they will be getting. Annual appraisals are one of the most motivating factors for employees. A lot in their personal lives and the course of…
Made Renovation, a startup that manages bathroom remodeling projects on behalf of homeowners, has raised $9 million seed funding led by Base10 Partners. Other investors that took part in the funding round include: Felicis Ventures, Founders Fund and some angel investors. The company plans to use its new capital to grow its delivery and technology…
FedEx Custom Critical, a leading North American transportation provider located in Green, Ohio, appoints Ramona Hood as President and Chief Executive Officer.FedEx Custom Critical, a leading North American transportation provider located in Green, Ohio, appoints Ramona Hood as President and Chief Executive Officer. Hood oversees the FedEx Custom Critical executive leadership team and is responsible…
WeWork, the world’s leading space-as-a-service platform, announced that it has named Marissa Shorenstein as Chief Communications Officer, effective March 26, 2020. She will report to CEO Sandeep Mathrani. In her new role, Shorenstein will lead WeWork’s communications and public affairs functions on a global basis, including external and internal communications, public affairs and social responsibility. …
Thyssenkrupp, a German multinational conglomerate, announced the sale of its Elevator Technology business entirely to a consortium led by Advent, Cinven and RAG foundation for $18.7 billion. The respective Executive Board decision was approved by the Supervisory Board of thyssenkrupp AG. The purchase agreement has been signed. Thyssenkrupp will reinvest part of the purchase price…
Mylan N.V.and Pfizer announced the appointment of Sanjeev Narula as CFO of Viatris. He is currently working as Chief Financial Officer of Upjohn, a division of Pfizer. Viatris is the new company that will result from the planned combination of Mylan and Upjohn. Narula has been working with Pfizer for over 16 years. At Upjohn,…
Olympus Partners portfolio company Liqui-box, recently announced that it has completed the acquisition of DS Smith Plc’s Plastics Division. The acquired division includes both rigid and flexible packaging businesses. The combined companies will have 35 manufacturing facilities and a global workforce of nearly 3,000 employees. Post the acquisition, DS Smith’s flexible packaging and global dispenser…