Author: News Desk

https://youtu.be/aGF3xch2tcM Fresh fund for acqusitionsFintech company Perfios entered Unicorn Club raising $70 million in a Series C funding round. Investors include Pear Valley Investment and Bessemer Venture Partners. The fresh funds will go for the acquisition of other firms and capital expenditure requirements.Pear Valley Investment, an affiliate of Warburg Pincus, has been allotted 3,27,121 shares for an investment of Rs 412 crore. After this transaction, Warburg Pincus holds 41.69% of post preferential offer capital in the company.Perfios enables businesses to aggregate and analyse structured and unstructured data and help in decision-making. It has facilitated over 500 million transactions per month and…

https://youtu.be/XOtEvQJp3ZoNew flights?Boeing Co and Airbus SE held talks with Tata Group in recent weeks to discuss future plane orders for Air India, a media report said. Tata had regained ownership of Air India after nearly 70 years in a $2.4 billion equity-and-debt deal. Air India has lucrative landing slots.Uphill task to upgradeBut, it is an uphill task to upgrade its ageing fleet and turn around its financials and service levels. Air India has a mixed fleet of over 140 Airbus and Boeing planes. Industry executives estimate that it would cost Tata more than $1 billion to refurbish the ageing aircraft.…

https://youtu.be/bR0l3Eat00s Surge in oil price?The ongoing Russia-Ukraine conflict will push energy and edible oil prices higher in India. Edible oil is an essential ingredient in Indian kitchens. The war will also raise the natural gas rates and coal.These factors will cause inflation, which is already above the upper end of the RBI’s target. India imports nearly 80% of its oil needs. Fears of inflationThe country faces the risk of inflation hitting consumer demand as global crude prices rose above $100 a barrel to multi-year highs. Reserve Bank of India’s analysis shows that every $10 rise in crude prices adds about 0.5 per…

https://youtu.be/OBhPBILXu90 Smallest wearable air purifierNanoclean Global has launched the “world’s smallest” wearable air purifier Naso95. Nanoclean Global, an IIT Delhi start-up, claims it is as effective as an N95 face mask. Naso95  sticks to the user’s nasal orifice and prevents bacteria, viral infection and pollen and air pollution. It comes in four different sizes, gives better protection than a generic facemask or a loosely fitted face mask.According to Nanoclean Global, Naso95 is an N95-grade nasal filter. The product has been tested and certified by national and international labs for its safety and efficiency.

https://youtu.be/abFUuwiIy8A Limited women foundersThe Indian startup ecosystem touched its prime in 2021 with a record level of funding. Although many startups entered the unicorn club, the contribution of women founders have been very limited.Nykaa founder Falguni Nayar says there is a misconception that women have a lot of personal commitments when they start their careers.More flexibility neededThis, even though completely incorrect, becomes an issue for entrepreneurs as they anticipate a change in priority for the woman. “With my own experience I have felt that. Maybe, women need some flexibility during a particular period in their lives,” she said.“I think you can…

https://youtu.be/RCLZceb2-v4 Aiming for more exposure to the startups in the state, Kerala Startup Mission (KSUM) is expanding its wings by associating with national and global partners. KSUM has signed MoUs with eight partners, including the national and international ones. This will provide an exposure for startups in the state.KSUM has partnered with Open FinTech Accelerator and will launch an OPEN Innovation Hub. The programme will be coordinated and implemented by OPEN through KSUM and their other partners in the FINTECH space. This partnership focuses on supporting the FINTECH enterprises with a goal to mitigate the risk that startups face by providing…

 Omicron, a factorFor the first time in several months, air passenger traffic in India declined sharply in January due to the spread of the Omicron variant of coronavirus, a latest  report by the Airports Authority of India (AAI) says.Compared to 25.12 million in December, Indian airports catered to 15.27 million domestic passengers in January. In November, there were 23.23 million passengers, up from 19.64 million passengers in October. In September it was 15.44 million and 14.26 million in August.Airports in New Delhi, Mumbai, Bengaluru, Hyderabad and Kolkata recorded the highest domestic air passenger traffic during January. Airports at New Delhi,…

Managed by private fund managers The government will create a new equity fund for start-ups with a 20 per cent limited stake to provide additional capital support to the entrepreneurs, and the corpus will be managed by private fund managers, Minister of State for Electronics and IT Rajeev Chandrasekhar had said. The announcement in this regard has already been made by Finance Minister Nirmala Sitharaman, he said. “The finance minister has announced that there will be such a fund where the government will be a 20 per cent limited partner and it will be managed by private fund managers. “There…

https://youtu.be/l5h58VuU0Dw New venturesOla Electric plans to build a battery cell manufacturing plant in India with a capacity of up to 50 GWh. The initial plan is to set up 1Gwh of battery capacity by 2023. Ola will need 40Gwh of battery capacity to meet its annual targetThis will produce 10 million electric scooters and the rest for electric cars. Ola currently produces about 1,000 scooters a day.It has a target of two million in the first phase. Ola Electric is backed by Softbank Group.

https://youtu.be/UnN4DO6XZRY Deal overCrompton Greaves Consumer Electricals Ltd will acquire Butterfly Gandhimathi Appliances Ltd for a total consideration of Rs 2,076.63 crores. It has signed definitive agreements with certain members of the promoter group of Butterfly. It will acquire up  to 55 % stake at Rs 1,403 per equity share aggregating up to Rs 1,379.68 crores.Extend product portfolioButterfly is a leading kitchen and small domestic appliances brand. Crompton has, in its long-term strategic plan, laid out the roadmap to “Extend the Core Product Portfolio, a senior official said.This acquisition provides concrete support to Crompton for  becoming a leading pan-India kitchen appliances player.…