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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102251) | |
22251. [Startup Bharat] This IIT Guwahati alumnus has built a secure email platform to protect user privacy
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Startups in Bharat
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- Guwahati-based Letter is focused on building products and services that enhance the privacy of the user. Its first product is a secure email platform that protects user privacy.
- Sunit Kumar Nandi, Founder, Techno Digital Media, always found it challenging to get a safe and secure email software provider.
- The 26-year-old tech entrepreneur realised that emails were not securely stored, the terms and conditions often stated that conversations could be available to third parties, there were spam problems, there was a problem with email deliverability and limited access to features you could use on your mailbox.
22252. [Weekly funding roundup] Venture investments touch $620 million for the week
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
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- The first eight days of the New Year has brought back the momentum of venture capital funding into the Indian startup ecosystem, with total investments touching $612 million as B2B unicorn Udaan led the show.
- The weekly funding for the second week of January witnessed a big bump as B2B unicorn Udaan led the show by raising $280 million.
- B2B unicorn Udaan raised $280 million in additional financing from its existing and new investors. The new investors include Octahedron Capital and Moonstone Capital, while the existing group include Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, and Tencent.
22253. This SaaS startup is reducing costs for fleet operators
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Startups in Bharat
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- Founded by Srinivas Chitturi and Satvir Singh, Bengaluru-based MTAP Technologies helps track, manage, and automate transportation for businesses.
- Starting with just three clients in 2014, MTAP is now serving over 120 clients across six countries. It claims its revenue has crossed more than $1.5 million for FY 2021.
- According to the co-founders, MTAP is working to embed four attributes in the transportation segment – optimisation, transparency, safety, and digitisation. MTAP offers optimisation in terms of reducing the number of vehicles and trips required for both economic and ecological purposes.
22254. MG Motor sees India investments touching ₹4,500 crore by 2021 end
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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India
Business Line
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- MG Motor India is close to investing ₹1,500 crore towards expansion of its plant capacity at Halol and hiring around 1,000 people to increase the shifts at the facility.
- The company had last year announced an investment of ₹1,000 crore to expand capacity at Halol (Gujarat).
- As demand grows, it will increase the number of shifts to two in certain areas and third in some others. The plant now products 75,000-80,000 units a year, and can be expanded to one lakh units a year.
22255. This ex-Flipkart employees’ startup is helping people tackle lifestyle diseases with nutritious food
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Startups in Bharat
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- Founded in 2020, Cora Health is a health and wellness startup that helps users discover nutritional food products suitable for them according to their health conditions.
- Former Flipkart colleagues Snigdha and Shrijit Venkatesh launched Cora Health in May 2020.
- Bengaluru-based health and wellness startup Cora Health offers an ecommerce platform that helps users get access to healthy food alternatives.
22256. This Chennai startup is recycling about 250 kg of plastic waste per day entering the sea
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- Chennai startup Samudhyoga Waste Chakra uses advanced technology to derive value out of plastic and liquid waste in a decentralised, digitised, and decarbonised fashion.
- Single-use plastics, plastic packaging, and multi-layer packaging have become a growing concern over the years. While technology has advanced, it is yet to create a sustainable impact
- Established in 2019, Samudhyoga Waste Chakra uses advanced technology, which derives value out of solid and liquid waste in a decentralised, digitised, and decarbonised fashion.
22257. [The Turning Point] How dropping out of college led this entrepreneur to launch edtech startup LearnApp
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Startups in Bharat
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- The journey of Prateek Singh, Founder and CEO of Noida-based LearnApp
- Prateek then started LearnApp along with Ankush Oberoi, Swati Sharma, and Sohail Alam in 2018.
- The Noida-based edtech startup is a subscription-based platform that offers courses on investing, trading, and finance via recorded and live video sessions from industry leaders. Today, LearnApp has enabled more than two lakh people to learn how to grow money from money.
22258. Sterlite Power raises ₹200 crore in debt financing from Allianz Global Investors
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
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India
Business Insider
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- Power transmission player Sterlite Power announced that it has raised ₹200 crore in debt financing from Allianz Global Investors (Allianz GI) -- one of the world's leading investment managers with a focus on sustainable investments.
- This transaction is one of the first infrastructure sector financing deals for Allianz GI in India
- The ₹200 crore facility from Allianz GI has been raised as a non-convertible debenture with a three-year tenure and is part of the larger refinancing exercise undertaken by Sterlite Power to reduce its holding company borrowings.
22259. This startup founded by two ex-Flipkart colleagues is helping small retail stores to compete with ecommerce giants like Amazon
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
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- Arzooo is empowering offline electronic stores by giving them access to competitive prices and their network of logistics, enabling them to drive up sales conversions in-store.
- Founded in 2018 with his ex-Flipkart colleague and IIT-Kharagpur alum Rishi Raj Rathore, Arzooo is empowering offline electronic stores by providing them with a larger selection of consumer products at par with online platforms, and gives them access to better prices, enabling them to drive up sales conversions in-store.
- Having worked on and built modern channels like ecommerce, we thought to take the best of ecommerce solutions to offline stores. That was the idea that seeded the concept of Arzooo,” recalls Khushnud Khan, Co-founder and CEO.
22260. Tata Consultancy Services to buy GE's stake In TCS Saudi Arabia
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
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India
Times Now
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- IT major Tata Consultancy Services(TCS) today said it will acquire GE's stake in Tata Consultancy Services Saudi Arabia for a cash consideration of $12,471.
- In a regulator filing TCS said, "On completion of required governance and business changes to effect this transition, TCS will assume full responsibility of the Women’s Center, securing its viability in the longer term and allowing it to continue to serve as a source of opportunity and skills development for women in the country"..
- TCS reported 16.4% rise in consolidated net profit to Rs 8,701 crore on a 4.7% increase in revenue to Rs 42,015 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY20). The company announced its Q3 results on Friday, 8 January 2021.