Author: News Desk
Maharashtra to launch ‘Maharashtra Innovation and Technological Development Fund’ It will be a Rs 200-cr fund for early-stage startups The fund will be spent on deep tech startups The special focus will be on women-led startups The state already has arrangements to make equity investments in startups One of them is the Rs 120-crore Maharashtra Social Venture Fund Another one is the Rs 330-crore Maharashtra State Defence and Aerospace Fund
E-commerce startup Meesho records 5.35 mn orders in a one-day sale The record sale occurred despite rising inflation and macroeconomic conditions About 1 lakh sellers took part in the event About 75% of sellers were from tier -2 and beyond regions Over 26,000 new sellers participated in the sale event The sale registered a five-fold jump on a year-on-year basis Last year, Meesho had registered 1 million orders in the one-day sale
Ambika Pillai, born in Thiruvananthapuram, raised in Kollam, has become India’s top celebrity stylist in Delhi. Ambika Pillai married at the age of 17 and gave birth to her daughter, Kavitha, at the age of 22. After separating from her husband when she was 24, she enrolled in a hairstyling class to survive on her own. Ambika Pillai began her career as a beauty-hairstylist with a salary of Rs 2,000 and rose to become a well-known celebrity hair stylist in India. Ambika Pillai, who based herself in Delhi without knowing the language, was defrauded of money by individuals in business.…
Azim Premji and Shiv Nadar lose $20 billion of their personal wealthThis is due to the meltdown in IT companies around the worldAzim Premji’s wealth declined by over $12 billionWipro’s shares have also dipped by over a thirdShiv Nadar lost about $7 billion since the beginning of the yearHCL Technologies’ market capitalisation declined by over 21%Other Indian tech giants TCS and Infosys have also sufferedTCS lost 10% of its value while Infosys lost 20%Analysts predict the trend to go on in FY23
Volkswagen AG is looking to sell its first electric car, the ID.4 sports utility vehicle, in India The German carmaker will begin testing the ID.4 around September for its technical capabilities Volkswagen will bring its global electric portfolio into the country within that limit to test the market Volkswagen is expecting to start local assembly of its electric cars in India around 2025 or 2027 The carmaker will consider making its own batteries — the costliest component of an EV — locally in India
The ultra luxury Sir M Visvesvaraya Railway Terminal in Karnataka’s capital city Bengaluru was made operational on Monday, 6 June It started with Ernakulam Tri-Weekly Express The air-conditioned SMV Railway Terminal is a ₹314 crore project It has solar rooftop panels and rainwater harvesting mechanism And is equipped with state-of-the-art facilities and claims to have an airport-like aura The station will have an upper-class waiting hall, a VIP lounge with a digital real-time passenger information system, and a lavish food court
Online cosmetics retailer Purplle raised capital at a $1.1 billion valuation It raised $33 million in latest Series E funding along with existing investors Premji Invest, Blume Ventures, and Kedaara Backed by Goldman Sachs Group Inc., Purplle is a prominent rival of Nykaa Purplle will use the new capital to step up investments in technology, develop its private labels and strengthen its product Purplle was set up in 2012 by Taneja, Rahul Dash and Suyash Katyayani, three engineers from the Indian Institute of Technology
India’s first display fab facility comes in Telangana The investment will be worth Rs 24,000 crore It will produce the most advanced AMOLED displays To be used for smartphones, tablet computers, and laptops Karnataka-based Elest will set up the display fab Telangana government signed an MoU with Elest
The Mopa airport is gearing up to be operational for the travellers from September 1 Prime Minister Narendra Modi is expected to inaugurate the Mopa airport on 15 August 2022, the 76th Independence Day The first phase of the airport would be commissioned between August 15 and 31 The Mopa airport is set to enhance the state’s connectivity by air, by aiding the flow of civilian traffic to the state The airport is built by GMR Goa International Airport Limited (GGIAL), a subsidiary of GMR Airports Limited (GAL)
Cricketer Mahendra Singh Dhoni becomes the brand ambassador of drone startup Garuda Aerospace He will also be one of the shareholders of the company Chennai-based Garuda Aerospace supports agriculture It is developing plans to sell drones to village-level entrepreneurs or pesticide and fertilisers retailers Garuda’s agriculture drones help with agricultural production, crop growth monitoring, and agriculture operations optimisation Dhoni has also recently ventured into farming He owns a farmhouse of organic fruits and vegetables in Ranchi