Jeff Bezos, Founder, Amazon.com Inc., three-day visit to India has come to an end. In his visit, Bezos has promised to create a million jobs in India by 2025. “It’s still Day 1,” the American billionaire mentioned in a direct message to “customers, sellers and partners” that was posted on Amazon.in. A media statement was issued…
Private equity firm WestBridge Capital has led a $30 million round of investment in the US-based HR technology company Phenom People Inc. The company said to use the fresh capital to grow its operations. American investment firm AllianceBernstein LP also participated in the funding round, Phenom People said in a statement. This is its Series…
Wipro Ventures, the strategic investment arm of Wipro Limited, and a global information technology, consulting and business process services company, has announced the closing of its $150 million Fund ll. Buoyed by the success of its first $100 million fund launched in 2015, Wipro Ventures will continue to invest in early to mid-stage companies building…
As cloud computing takes over the world, Avigna Consulting, owner of the server management solution InfraGuard, has made a strategic investment in Australia’s leading Cloud Management Company, Kumolus for fast expansion in SouthEast Asia. Both companies are partners with Amazon Web Services and have a global presence. Together, they offer a complete solution to enterprises…
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…
STL, a data networks innovator, has announced an investment in ASOCS, a developer of open, disruptive and virtualized Radio Access Network (vRAN) solutions, delivering 4G and 5G for cellular networks. As a part of the overall transaction, STL has acquired a 12.8% stake in the company (on an issued and outstanding basis) and Board representation.…
With the recent $200mn investment from Tiger Global Management, Byju’s valuation now stands at $8bn. Although Byju’s has confirmed on the transaction but declined to comment on specific details of the same. As per a media report, two sources briefed on the developments, mentioned that Tiger Global, being one of the most influential investors in…
Giving a major boost to the development of natural gas grid in North-East India, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved Viability Gap Funding/ Capital Grant of – 60% of the estimated cost of Rs. 9,265 crore for the project to Indradhanush Gas Grid Limited (IGGL). The…
Biocon Ltd, an innovation-led global biopharmaceuticals company, today announced that the Board of its subsidiary Biocon Biologics India Ltd has approved a primary equity investment by True North. As per the terms of the proposed agreement, True North will invest ₹ 536.25 Crore that will eventually translate to a 2.44% minority stake in the biosimilars…
Books open up your minds and introduce you to something new. They expose you to new ideas and modes of thinking and give you access to diverse knowledge. As we have step into 2020, here is a list of books that can help you learn, be better, be more aware by leveraging the experience and…
United State’s based Accel Partners, a venture capital firm, has raised about $550mn for its 6th fund specifically for investments in India’s booming start-up ecosystem. This fund is a notch higher than its 5th fund which set a figure of about $450mn in 2016. Accel has so far raised $1 billion capital across five rounds…
Indian scooter rental start-up Bounce raised $150 million in an ongoing funding round led by its existing investors Eduardo Saverin’s B Capital and Accel Partners India. The current financing round, dubbed as Series D funding raised the market value of Bounce to $500 million. Earlier this year in June, during its Series C funding, the…
Bosch, the leading multinational engineering and electronics company headquartered in Germany has announced its plans to invest €100 million (around Rs 800 crore) over the next 3-4 years in the Indian market. The company said that the localized offerings include the top-loader washing machine, freestanding microwave oven, and mixer grinder. “Bosch Home Appliances will invest…
Allahabad Bank on Thursday announced that the Centre is infusing Rs 3,054 crore into it as an investment during the current fiscal. “In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the bank has received a communication from the Government of India, Ministry of Finance, Department of…
Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries Limited, on Wednesday announced that it has successfully acquired 12.7% shareholding in SkyTran Inc. Founded in 2011, SkyTran, Inc. is a venture capital and private office funded high technology company focused on advanced transportation solutions. “Reliance has made a strategic investment into…