Author: News Desk

 New unicorn  After raising $137 million, debt marketplace CredAvenue Pvt. became India’s latest unicorn. The funding was led by New York-based global private equity and venture capital firm Insight Partners, B Capital Group, and Dragoneer, with participation from existing investors. CredAvenue had closed its Series A funding round of $90 million led by Sequoia Capital India and co-led by Lightspeed, TVS Capital Funds and Lightrock in last September. That equity funding had valued the company at approximately $410 million, according to multiple media reports. According to Gaurav Kumar, Founder and CEO of CredAvenue, said: “We have a once-in-a-lifetime opportunity to transform the global…

https://youtu.be/oXyA7k3xI3w Mission electric vehiclesSony and Honda have announced an alliance to form a New Company that aims to create the next era of mobility and mobility services. The sales of the first EV model are expected to start in 2025. The two companies plan to engage in the joint development and sales of high value-added battery of EVs and commercialise them in conjunction with providing mobility services.The New Company is expected to plan, design, develop, and sell the EVs, but not own and operate manufacturing facilities. Honda is expected to be responsible for manufacturing the first EV model at its vehicle…

https://youtu.be/6SVlHedViZQ IPO by next yearMeesho is aiming to go public in early 2023, a media report said. The Bengaluru-based social commerce platform is working to be ready for a listing by the end of 2022. Meesho will file documents by Jan next year and be done with the IPO by the first half of 2023, a media report said.Wide collection of productsIn September, Meesho raised $570 million at a valuation of $4.9 billion in a Series F funding round. Resellers on the company’s platform offer a variety of unbranded products. Users can resell products from the supplier marketplace for a profit…

https://youtu.be/Ggb-E9fwl38 Focus on rural customersTata Motors has introduced ‘Anubhav’ showroom on wheels. It is a doorstep car buying experience for rural customers. This initiative will help increase reach in Tehsils and Talukas. A total of 103 mobile showrooms are being deployed across the country.GPS technologyThe  Anubhav Showroom on Wheels has been developed on Tata Intra V10. These mobile showrooms will be operated by dealerships under Tata Motors’ supervision and guidance. They come equipped with GPS trackers to monitor the movement for better utilization.

https://youtu.be/6TWkIQJLhoo Electronic manufacturing hubReliance Strategic Business Ventures Limited (RSBVL) has entered into an agreement with Sanmina Corporation. The joint venture meant to create a world-class electronic manufacturing hub in India.RSBVL will hold a 50.1% equity stake in the joint venture entity with Sanmina owning the remaining 49.9%, RIL said. RSBVL will achieve this ownership primarily through an investment of up to Rs 1,670 crore in new shares in Sanmina’s Indian entitySanmina will contribute to its existing contract manufacturing business. As a result of the investment, the joint venture will be capitalized with over $200 million of cash to fund growth. The…

Accelerate agricultural landscape Flipkart-backed agritech start-up Ninjacart has launched a $25 million fund to support emerging and new-age start-ups in the agriculture sector. With an aim to boost tech innovation and accelerate disruption, Ninjacart will make seed investments in start-ups, entrepreneurs and tech innovators who present unique, sustainable and tech-enabled solutions. In addition, Ninjacart will invest in teams that have great tech abilities but may lack a solution or an idea at the moment, The Business Insider reported. The announcement comes as part of the agri-tech giant’s larger effort to accelerate the advancement of the agricultural landscape, the startup said…

 15th anniversaryThis year, German luxury car manufacturer – BMW’s Indian subsidiary, BMW Group India, is celebrating its 15th anniversary.  This luxury carmaker entered the Indian market in January 2007.  The BMW Group’s Chennai plant commenced its operations on 29th March 2007.  Nearly after 15 years, the 1,00,000th made-in-India car has rolled out the BMW Group India’s Chennai facility This locally manufactured product is a BMW Individual (7 Series) 740Li M Sport Edition. Speaking on this, Thomas Dose, Managing Director, BMW Group Plant Chennai said, “It is a day of great joy and pride for us as the 1,00,000th ‘Made-in-India’ car drives…

https://youtu.be/Zw5f3JYjYaE Global appealReliance Retail Ventures Ltd has invested in 30-year-old designer brand Abraham & Thakore (A&T) for a “majority stake”. The investment intends to build the brand’s global appeal in the fashion and lifestyle market, Reliance Retail saidLaunched in 1992, A & T is now led by the design trio – David Abraham, Rakesh Thakore and Kevin Nigli. “They will continue to lead the creative direction of the brand”, Reliance Retail stated.According to David Abraham, A&T’s new partnership holds the potential for “redefining India’s luxury landscape”.

https://youtu.be/C6a27B9bbm4 Role modelShahnaz Hussain has opened a new chapter in the beauty concepts of Indian women. Who is Shahnaz Hussain? She is a woman entrepreneur who has amassed crores with ayurvedic ingredients in the cosmetics market dominated by foreign items. Shahnaz Hussain, who started herbal beauty care in India, has branded herself. Shahnaz Hussain, the founder, chairperson and managing director of the venture, is today a role model for women entrepreneurs in India. Shahnaz, a native of Ahmedabad during her visit to Iran with her husband, realized that traditional ayurvedic ingredients could revolutionize the cosmetics industry. While training in cosmetology in London,…

https://youtu.be/6yz_XmZUNto Clean electric vehiclesJeep’s first fully-electric SUV will hit streets in 2023, according to Stellantis, the brand’s parent company. Stellantis laid out its business plan for the next several years during a presentation in Amsterdam.It’s plan hinges on a massive transition toward producing clean electric vehicles. The electric SUV features signature Jeep traits like a seven-section grille and aggressive, bulky look.Big plansThe SUV’s rear door handles are placed up by the window, rather than in the conventional spot. By 2030, the automaker plans to double its revenue while launching at least 25 all-electric models.