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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102361) | |
22441. [Funding alert] Video creation platform InVideo raises $15M in Series A led by Sequoia Capital India
- Mumbai-based video creation platform InVideo founder says capital injection will allow the startup to continue its mission to build a world-class technology solution, expand at scale, and help more individuals and businesses create unique videos.
- InVideo, the Mumbai-headquartered video creation platform that allows users to create high quality videos for any form of digital media, has raised a $15 million Series A funding round led by Sequoia Capital India.
- The round also saw participation from Tiger Global, Hummingbird, RTP Global, and Base Ventures.
22442. Procter & Gamble announces a Rs 400 Cr ‘India Growth Fund’ for innovation
- Keeping in line with the Indian government’s vision to make an Aatmanirbhar Bharat, the FMCG major will localise the manufacturing of finished products and adopt go-to-market innovations and technology.
- Procter & Gamble (P&G) on Thursday announced a Rs 400 crore ‘India Growth Fund,’ which will focus on innovations and technology, keeping in line with the Indian government’s vision to make an Aatmanirbhar Bharat by driving inclusive growth in India through external partnerships.
- The fund is part of P&G India’s ‘vGROW’ programme that aims to collaborate with startups, small businesses, individuals, or large organisations, offering innovative industry-leading solutions. Speaking about the investment, Madhusudan Gopalan, CEO, P&G Indian Subcontinent, said,
22443. Epic Games investor and co-chairman of Bain Capital invests in Indian gaming startup WinZOI
- WinZO has secured funding from Stephan Pagliuca, co-chairman of private equity firm Bain Capital.
- Pagliuca is also the co-owner of the NBA Basketball team, Boston Celtics, and is an investor in the American gaming company and Fortnite maker – Epic Games.
- Earlier in September, WinZO had raised $18 million from top global VCs – Singapore’s Makers Fund and New York-based Courtside Ventures.
22444. Procter & Gamble Sets Up Rs 400 Cr 'India Growth Fund' To Localise Manufacturing
- With a massive investment of Rs 400 crores, this fund would reportedly be utilized to collaborate with local suppliers of raw materials, finished goods and packaging materials, services, and go-to-market innovations.
- Multinational consumer goods corporation, Procter and Gamble (P&G), October 29, announced the establishment of the 'India Growth Fund' under the union government's vision of an AtmanirbharBharat.
- A part of P&G India's 'vGROW' initiative, the fund would be primarily aimed at identifying and partnering with startups, small businesses, individuals in the commercial sector, and larger organisations to offer solutions pertaining to the fast-moving consumer goods industry.
22445. [Funding alert] Leena AI raises $8M in Series A round led by Greycroft
- US and Delhi-based artificial intelligence (AI)-powered employee experience platform Leena AI announced $8 million Series A financing led by Greycroft to expand its go-to-market programmes and accelerate product development.
- Founded in 2018, the company plays well with 20 plus platforms, including SAP SuccessFactors, ADP, Oracle, Workday, and Microsoft Office 365, and companies like Nestle, Puma, AirAsia, Coca-cola, Lafarge Holcim, and Abbott rely on the platform
- Over the past nine months, Leena AI has grown the team to 75 people and brought on more than 100 enterprise customers, including Lafarge Holcim, Abbott, Coca-Cola, AirAsia, Vodafone, Sony Pictures, etc. During this time, Leena AI claims to have added more than 150,000 employees to its platform and grew revenue 350 percent.
22446. Mercedes-Benz invests Rs 400 crore in India to localize models
- Luxury carmaker Mercedes-Benz India has increased its investment in the country by about Rs400 crore over a few months, taking the total investment to Rs2,600 crore.
- Mercedes-Benz has now started local mass production of its AMG model, which will give it a significant cost advantage over imported models. The company now manufactures 11 models in India.
- The automaker has the capacity to manufacture 20,000 units annually. In 2019, the company sold over 13,000 luxury cars in the country — giving it a third of the market share in the sub-40,000 luxury car segment.
22447. Amazon Web Services to invest $2.77B in Telangana for data centres
- Amazon Web Services (AWS) will be investing $2.77 billion (Rs 20,761 crore) in Telangana to set up multiple data centres, Telangana Minister for IT and Industries KT Rama Rao said on Friday.
- Several notable Indian startups such as Swiggy, Zomato, redBus, Ola, OYO, Razorpay, Unacademy, ixigo, etc., are building their products with AWS.
- AWS executives declined to comment on the size of the proposed investment in Telangana, while directing reporters to the minister’s post on microblogging site Twitter
22448. Google को जियो प्लेटफॉर्म्स में 7.73% हिस्सेदारी खरीदने की मंजूरी, भारत में लॉन्च करेंगी स्मार्टफोन
- भारतीय प्रतिस्पर्धा आयोग (CCI) ने बुधवार को कहा कि उसने इंटरनेट क्षेत्र की बड़ी कंपनी गूगल को देश की प्रमुख डिजिटल कंपनी जियो प्लेटफॉर्म्स में 7.73 फीसदी हिस्सेदारी खरीदने के प्रस्तावित सौदे को मंजूरी दे दी. इस साल जुलाई में इस डील का एलान हुआ था. इससे गूगल और जियो प्लेटफॉर्म्स लिमिटेड (JPL) को देश में नए स्मार्टफोन को विकसित और लॉन्च करने की सुविधा मिलेगी.
- जियो प्लेटफॉर्म्स में 33,737 करोड़ रु का निवेश
- रेगुलेटर के पास फाइल किए गए नोटिस के मुताबिक, प्रस्तावित ट्रांजैक्शन से गूगल और JPL को भारत में नया स्मार्टफोन विकसित और लॉन्च करने में मदद मिलेगी. नोटिस के मुताबिक इस समझौते के बाहर गूगल और JPL अपने कारोबार को स्वतंत्र तौर पर करना जारी रखेंगे.
22449. PM Modi Announces 'Parvat Mala' Plan For Hilly Regions On India's Border To Boost Security
- The Union Budget 2022-23 lays emphasis on infrastructural development in the northeast regions and the bordering villages that are crucial for national security, said Prime Minister Narendra Modi on Tuesday, February 1.
- Highlighting the infrastructure push in North-East states, he explained that it would help stop locals' migration for jobs, tackle national security issues, and promote tourism in the hilly regions.
- The Prime Minister further announced that the 'Parvat Mala' scheme will be launched for regions like Himachal Pradesh, Uttarakhand, J&K, and the northeast to facilitate a modern system of transportation and connectivity in hills. He said this will strengthen the border villages that need to be vibrant and are also important in terms of national security.
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22450. Budget 2022-23: Rs 100 Crore Allocated For Construction of bamboo links roads in mizoram
- Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget for the year 2022-23, announced that the Government has launched a pilot project for the construction of bamboo link roads at different locations in various districts of Mizoram.
- The Government has allocated Rs 100 crore for the completion of the project.
- The proposed roads are expected to improve connectivity in remote regions and help with transporting bamboo harvests.
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