Conkrite Capital announces merger with Grupos Originarios De México
Conkrite Capital Corp. has reportedly announced its plans to enter a definitive agreement with Grupos Originarios de México (POM) to merge in Performance Management and Resource Management. The collaboration is the result of negotiations th....
NextBillion.ai secures Series B funding of $21 Mn led by Mirae Asset
Spatial data and mapping platform NextBillion.ai has reportedly secured a Series B funding of USD 21 million initiated by Mirae Asset Venture Investments. Current investors Alphawave, Lightspeed, and Microsoft’s venture arm M12 also participate....
TransferMate raises funding of USD 70 Mn to expedite B2B innovation
Leading B2B payment infrastructure provider TransferMate has reportedly secured funding of USD 70 million valuing the company at USD 1 billion. Railpen, one of the largest pension funds in the United Kingdom, took part in the funding round. The Ir....
Zolar bags Series C funding of USD 105 Mn to expand supplier network
Berlin-based Zolar GmbH has reportedly secured a Series C funding of USD 105 million to increase its supplier network for small-scale solar systems to cater to the surging demand for clean energy. The funding round is initiated by Singapore-based ....
Hyatt affiliate inks agreement with The Red Sea Development Company
Miraval Resorts & Spa, an affiliate of Hyatt Hotels Corporation, has reportedly entered a management deal with The Red Sea Development Company for Miraval The Red Sea. The 180-room luxury resort will bring the signature wellness practices of t....
Byju’s planning to acquire CA-based online tutoring firm Chegg
Edtech giant Byju’s has reportedly planned to acquire Chegg, a California-based online tutoring firm. Byju Raveendran, Founder and Chief Executive of Byju’s indicated that the upcoming year is the right time for making acquisitions. He....
Lenskart subsidiary Neso Brands secures seed funding of USD 100 Mn
Neso Brands, a subsidiary of eyewear unicorn retailer Lenskart, has reportedly secured a seed funding of USD 100 million. SoftBank?, KKR, Temasek, and ?Alpha Wave Global? were the investors involved in the seed round. Neso Brands stated that it wi....
Adani Group to buy 49 percent stake in Quintillion Business Media
AMG Media Networks, a media unit of Adani Enterprises, has reportedly planned to purchase a 49% stake in Quintillion Business Media Pvt Ltd (QBML), a digital business news platform. As per a regulatory filing, Adani Enterprises inked a Shareholder....
Pasqal & BMW extend collaboration to enhance car design & production
Pasqal SAS, a leading manufacturer of quantum processing units, and automotive giant BMW Group have reportedly extended their collaboration to apply quantum computing to enhance car design. This collaboration comes following the win registered by ....
Swiggy suspends operations of Supr Daily in five cities citing losses
Swiggy, the food and grocery delivery platform, has reportedly ceased operations of Supr Daily, its subscription-based delivery service, in five cities due to low profits. The announcement came following the suspension of operations of subscriptio....
Microsoft ramps up security service offerings to tackle ransomware
Microsoft Corporation has reportedly beefed up its security service offerings with three new services, developed to help organizations identify and respond to cybersecurity instances like ransomware. The tech giant is the leading provider of cloud....
Lordstown registers USD 90 Million loss; yet to close Foxconn deal
Electric truck maker Lordstown Motors Corp has reportedly registered a loss of USD 90 million and is yet to close a USD 230 million deal with Taiwanese tech supplier Foxconn ahead of a May 14th deadline. As per the agreement, Foxconn will purchase....
Govt to accept financial bids for Shipping Corp of India by September
The Government of India will possibly accept financial bids for selling the Shipping Corporation of India (SCI) by September 2022 after demerging non-core assets. Under the process of the strategic sale, the government is spinning off the Shipping....
Fintech startup MoneyMatch targeting Series B funding of USD 10 Mn
MoneyMatch, a Malaysia-based fintech startup, has reportedly announced its plans to raise a Series B funding round between USD 8 million to USD 10 million. The fintech startup is holding talks with several regional and local institutional investor....
Golden Energy and Resources acquires BHP Mitsui Coal for $1.2 Bn
Widjaja family’s Golden Energy and Resources has reportedly acquired an 80% stake in BHP Mitsui Coal, an Australia-based coal miner, for USD 1.2 billion. Japan’s Mitsui owns the remaining stake. Stanmore Resources, the Australian-liste....
NTPC ramps up fuel imports and expansion of coal-fired capacities
State-run power producer NTPC (National Thermal Power Corporation) Ltd is planning to import 20 MT (million tonne) of fuel and expedite the expansion of coal-fired capacities. According to credible sources, NTPC is also increasing its capacity of ....
Karnataka inks MoU with ISMC for a $3Bn semiconductor fab plant
Karnataka has reportedly inked an MoU (Memorandum of Understanding) with ISMC Analog Fab Pvt. Ltd for establishing a semiconductor fab facility for USD 3 billion over the next seven years. The MoU was inked by E.V. Ramana Reddy, Karnataka’s ....
Sembcorp merges with Keppel Corp’s offshore unit for USD 6.29 Bn
Sembcorp Marine has reportedly merged with the larger marine and offshore unit of Keppel Corp for USD 6.29 billion (S$8.7 billion). This move comes one year after the Temasek-backed companies commenced deal discussions amid a sector downturn. The ....
Labour Ministry notifies Infosys to jointly discuss non-compete clause
The Labour Ministry has reportedly issued a notice to Infosys Ltd to conduct a joint discussion on April 28th regarding the imposition of the non-compete clause. This move comes after a complaint filed with the ministry by the IT union Nascent Inf....
Abu Dhabi’s Masdar signs MoUs to develop green hydrogen project in Egypt
Masdar, a UAE-government-owned renewable energy company, and Egypt’s Hassan Allam Utilities have signed a deal with state-backed organizations in Egypt that will see both parties working together for the development of mega green hydrogen proje....
Crypto exchange Kraken forays into the competitive landscape of the UAE
Kraken will be recognized as the 1st cryptocurrency player to facilitate UAE Dirham-based funding and trading equivalent to ether, bitcoin, and other virtual assets The U.S.-based cryptocurrency exchange Kraken is reportedly pursuing the Middle Ea....