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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102244) | |
22291. This fintech startup is making equity markets and investor relations simpler
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- 1. Mumbai-based fintech startup S-Ancial raised $1.4 million in Pre-Series A round. It aims to use this funding to expand its India and MENA footprint and strengthen its technology platform.
- 2. The Mumbai-based fintech startup is a data intelligence platform focused on equity capital markets, specifically on investor relations.
- 3. The startup offers free and premium tools for listed companies. The ownership analysis tool helps clients with detailed profiling of shareholders along with activities of buyers and sellers on their stock.
22292. Siemens acquires Indian grid technology firm C&S Electric for $285m
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
POWER TECHNOLOGY
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- Siemens has completed a previously announced acquisition of Indian grid technology manufacturer C&S Electric for $285m (Rs21bn).
- Siemens purchased approximately 99.22% of the company after receiving regulatory approval from the Competition Commission of India in August last year as well as the completion of further closing steps.
- Siemens purchased approximately 99.22% of the company after receiving regulatory approval from the Competition Commission of India in August last year as well as the completion of further closing steps.
22293. डीपीआईआईटी द्वारा मान्यता प्राप्त स्टार्टअप की संख्या पचास हजार तक पहुंची
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
Hindi
India
Press Information Bureau
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- 1) पिछले 10,000 स्टार्टअप केवल 180 दिनों में जोड़े गए. देश के 623 जिलों में मान्यता प्राप्त स्टार्टअप की पहुंच
- 2) 2020-2021 में मान्यता प्राप्त स्टार्टअप्स द्वारा 1.7 लाख नौकरियां सृजित की गईं. स्टार्टअप इंडिया- नई ऊंचाइयों पर पहुंचना, भारत को इनोवेशन में विश्व में अग्रणी बनाना
- 3) उद्योग संवर्धन और आंतरिक व्यापार (डीपीआईआईटी) स्टार्टअप पहल के लिए नोडल विभाग के रूप में कार्य करता है। 3 जून, 2021 तक, डीपीआईआईटी द्वारा 50,000 स्टार्टअप को मान्यता दी गई है, जिनमें से 19,896 स्टार्टअप को 1 अप्रैल, 2020 के बाद मान्यता मिली है।
- 4) सबसे ज्यादा 'खाद्य प्रसंस्करण', 'उत्पाद विकास', 'एप्लीकेशन डेवलपमेंट', 'आईटी परामर्श' और 'व्यावसायिक सहायता सेवाएं' क्षेत्र में स्टार्टअप का पंजीकरण हुआ है। अहम बात यह है कि 45% स्टार्टअप ऐसे हैं जिनके नेतृत्व टीम में एक महिला उद्यमी है।
22294. Insurtech startup Symbo Platform raises $9.4 Million to scale in India
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Mint
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- Symbo Platform Holdings, Singapore-based InsurTech platform said that it has raised $9.4 million led by CreditEase Fintech Investment Fund and San Francisco based investment firm Think Investments, with participation from existing investors Integra Partners, Insignia Ventures and AJ Capital. A large proportion of the funds will be used for investment into Symbo’s Indian affiliate, Symbo India Insurance Broking Pvt Ltd. (SIIB).
- SIIB has been working towards simplifying insurance for customers, helping them to buy covers based on their personalized needs.
- The insurtech’s engagements in India include Bajaj Finserv Health, eyewear retailer Lenskart, corporates and large insurance players The platform claims to have over 80,000 agents and 45 technology licensing partners, supporting over $100 million in annual GWP (gross written premium) across India, Malaysia, Singapore and Indonesia.
22295. Saudi Arabia’s Salic to step up India agri investments
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
The Economic Times
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- Saudi Arabia’s Salic, which has 29% minority stake in LT Foods subsidiary Daawat Foods, will step up investments in the Indian agricultural ecosystem, Salic and United Farms Investment Company group chief executive Sulaiman AlRumaih said, during an India visit this week.
- Salic, wholly-owned by Public Investment Fund, will invest in agricultural projects and livestock production by partnering with governments across “multiple geographic areas”, the company said.
- With agriculture contributing over 15% to India’s GDP, there is a significant potential for us to invest in and help develop the Indian food processing sector,” he said. The Indian food processing sector ranked number five globally is growing at a CAGR of 12% and expected to reach US $730 billion by FY24. It accounts for 32% of India’s food market and has an 11.6% share of employment in the domestic food industry.
22296. Volkswagen eyes comeback with Rs 8,000 crore investment
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
The Times Of India
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- Germany’s Volkswagen group has started to pump in fresh investments to the tune of nearly Rs 8,000 crore for a India fightback, and group company Skoda — that will lead the charge — says it will launch four new cars in the market, taking on models from Maruti, Hyundai and Tata Motors.
- As it expands in India and gets deeper with localisation, Skoda has also said that the government should allow easier import of parts and do away with special tax benefits reserved only for cars under 4 metres.
- Thomas Schaefer, chairman of Skoda’s global board, said the Volkswagen group is eyeing a 5% share of the Indian market by 2025, mainly led by Skoda and VW brands for volumes while luxury ones such as Audi, Porsche and Lamborghini also chipping in (failed in previous target of 20% by 2018).
22297. Glenmark becomes first domestic drug firm to get COVID credit line from IFC
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Mint
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- International Finance Corporation (IFC) on Tuesday said Glenmark Pharmaceuticals has become the first domestic drugmaker to get a USD 40-million (about ₹290 crore) credit-line from its USD 8-billion fast-track COVID-19 facility. The loan to Glenmark will help it increase the availability of affordable, quality medicines in the country as well in other countries, including treatment for the pandemic.
- IFC's partnership with Glenmark began way back in 2016, supporting its expansion and growing its research and development capacities Glenmark produces generic drugs and active pharmaceutical ingredients, which have applications in oncology, cardiology, and dermatology, as well as respiratory illnesses.
- The World Bank Group lender said the USD 40 million-loan is under its USD 8-billion fast-track COVID-19 facility and will help the Mumbai-based company boost its generic drug production capacity in general and respiratory drugs in particular.
22298. Xiaomi to make smart electric cars, announces around $1.5 billion investment
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
India Today
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- Xiaomi has officially announced its plans to enter the smart electric automotive segment. The Chinese tech major will be investing a major amount and workforce towards the cause in the coming years.
- Xiaomi has earmarked an investment of CNY 10 billion (around $1.5 billion) for the research and development of electric vehicles. Over the next ten years, it is prepared for an investment reaching up to $10 billion.
- Starting off, Xiaomi’s founder and CEO, Lei Jun, will also serve as the CEO of the new smart electric vehicle business. Jun said that the company has a total of 10,000 people working in research and development as of now. It will add another 5,000 to make its new idea work.
22299. UK-based Neobank ‘Tide’ Forays into India with INR 1000 Cr Investment Plans
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Inc42
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- The platform had announced India as its first international market in 2020 and it will launch its India services early 2022
- Tide announced today that it will create over 1,000 jobs in the next five years In India, prominent neobanks have raised more than $500 Mn since 2019
- The new jobs will span across roles in product development, software development, marketing, risk-compliance and member support. It also has a business office in Gurugram.
22300. CapitaLand launches ₹2,250 crore logistics fund in India
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Mint
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- Singapore’s CapitaLand India Logistics Fund II will invest in the development of logistics assets in key warehousing and manufacturing hubs in six big cities and emerging markets such as Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow
- The fund will grow CapitaLand’s current total funds under management (FUM) of $79.2 billion across over 20 private funds and six listed trusts.
- The six projects have a total development potential of over 12 million sq ft of space. Two of the projects are operational with 2.8 million sq ft of space that has been leased.