Author: News Desk

India is home to many billionaires who actively engage in philanthropy, including notable figures like Wipro’s Azim Premji and the late Ratan Tata. Following in the footsteps of the Tata family, real estate mogul Abhishek Lodha has pledged a remarkable Rs 20,000 crore for charitable initiatives. Transfer of Shares to Lodha Philanthropy Foundation Lodha and his family plan to transfer shares worth this amount from their holdings in Macrotech Developers, the publicly traded company he leads. As the Managing Director and CEO of Macrotech Developers Ltd. (MDL), Lodha oversees one of India’s top real estate firms, which operates under the…

Zyber 365 Technologies, founded by Pearl Kapur, recently garnered attention for its claim of raising $100 million in Series A funding, which supposedly propelled its valuation to $1.2 billion. This remarkable assertion positioned the Web 3.0 AI firm among India’s elite unicorns. However, a deeper look into the company raises questions about the legitimacy of its claims. The Unicorn Claim Zyber 365 emerged on the radar in July 2023 when it announced its entry into the unicorn club, stating it had secured $100 million from an undisclosed entity. This funding was noteworthy, particularly since it followed just a week after…

Mahesh Gogineni, a prominent Indian entrepreneur, has established himself in the tech and startup world with ventures such as Gifskey and Wysh. With a strong academic background, Mahesh holds an MSc and MMS in Finance and Management from BITS Pilani, an MSc in Accounting and Finance from the London School of Economics, and an MBA from Stanford University Graduate School of Business. A Dynamic Career Path in Tech and Startups Mahesh’s career began in 2008 with VANPIC Projects Pvt Ltd, following internships at Microsoft and HCL Technologies. He co-founded innovative startups like Gifskey and Wysh, a platform that enables two-way…

In today’s world, industrialists like Mukesh Ambani, Gautam Adani, and Ratan Tata epitomise wealth in India. However, centuries ago, a legendary figure named Virji Vora held an even more remarkable status as a dominant force in India’s trade and finance during the Mughal era. Often regarded as the wealthiest businessman in history, Vora’s fortune was substantially greater than that of contemporary magnates. A Financial Powerhouse for the British Virji Vora’s business prowess flourished from 1617 to 1670, during which time he became a vital financier for the British East India Company. Historical records indicate that he lent an astonishing Rs…

Apoorva Mehta’s path to becoming the founder of Instacart is marked by both challenges and achievements. Born and raised in India, he had a solid academic foundation, pursuing an engineering degree at the University of Waterloo in Canada. This experience equipped him with essential technical skills that would later serve him well in his career. After graduation, Mehta joined Amazon as a supply chain engineer. Although he faced demanding tasks, he quickly realized that his role at Amazon wasn’t fulfilling his entrepreneurial aspirations, leading him to make a bold decision to leave and pursue his startup dreams. A Series of…

Ashwin Desai, the founder of Aether Industries, is recognized as the wealthiest individual in Surat, with an impressive fortune of ₹100,462 crore. Following him is Faruk G. Patel of KP Group, valued at ₹9,700 crore, known for its focus on green energy solutions. In third place is Niraj Choksi from NJ India Investment, who has amassed ₹9,600 crore, while Babubhai Lakhani of Kiren Gems holds the fourth position with ₹7,400 crore. Aether Industries: A Leading Player Aether Industries, founded by Desai in 2013, specialises in producing specialty chemicals for sectors such as agrochemicals, pharmaceuticals, and oil and gas. The company…

Curefoods, a cloud kitchen startup founded by Ankit Nagori, is seeking to raise $40 million in its Series D funding round to enhance its restaurant presence, acquire food brands, and expand into new markets like Dubai. This funding round is expected to include both primary and secondary share sales, valuing the company at approximately $500 million post-money. As part of this funding, Curefit Healthcare Private Limited, also known as Cult Fit, is anticipated to sell its remaining 2% stake in Curefoods, marking a complete exit from its investment. In a secondary transaction, shares will be exchanged between investors, meaning no…

Sonu Nigam, one of India’s most celebrated playback singers, has accumulated a net worth of approximately 350-400 crores in 2024. His wealth is a result of over three decades of hard work, iconic music, and successful ventures in multiple industries. Sonu’s rise from a young singer to a household name in Bollywood is a testament to his exceptional talent and enduring popularity. Along with his singing career, Sonu has expanded his earnings through business ventures, brand endorsements, and live performances. Here’s a closer look at how Sonu Nigam built his impressive fortune. Early Career and Breakthrough:Sonu Nigam’s musical journey began…

Have you ever wondered which is the largest beachside event in India? It’s the Huddle Global, held annually in Kovalam. This grand event brings together startups, entrepreneurs, investors, and innovators. It’s where ideas meet funding and where new startups are born. Scheduled to take place from November 28 to 30, 2024, at the Leela Raviz Kovalam, Huddle Global is a celebration of innovation. Three-Day Startup Fest with Key Insights and Networking Opportunities The three-day event will kick off on November 28 at 4 PM with the Chief Minister of Kerala, Pinarayi Vijayan, inaugurating the ceremony. Before the opening session, the…

Ola Electric is preparing for a significant product expansion, aiming to launch 20 new offerings over the next two years. Founder and Chairman Bhavish Aggarwal shared the ambitious plans during the company’s Q2 FY2025 results conference call, highlighting a mix of new models and variations of existing vehicles. Entering the Three-Wheeler Segment Ola Electric will venture into the three-wheeler category by 2026. Aggarwal confirmed the company’s plans to introduce two electric three-wheelers: Both models will utilize components from Ola’s popular S1 electric scooters, including shared electronics, battery systems, and powertrains. This approach aims to streamline production costs and offer competitive…