India’s Economy Surges 8.4% in Q3 2023-24: A Glimpse into Economic Dynamics

February 29, 2024/

India’s recent economic report for the October-December period of 2023 has stunned economists and analysts alike, with a remarkable surge of 8.4% GDP growth, marking the fastest pace witnessed in six quarters. This exceptional performance, surpassing all estimates, is attributed in part to a notable upswing in manufacturing activity, as indicated by government-released data. Economists’ prognostications fell short, with forecasts pegged at 6.6% in a Reuters poll, underscoring the magnitude of India’s...

FINANCIAL NEWS, LOCAL NEWS

Rainmatter-backed TWF Flours Revolutionizes Foodtech with Nutrient-rich Innovations

February 29, 2024/

In a significant development for the foodtech landscape, Rainmatter, a venture fund backed by Zerodha, has invested approximately Rs 12 crore ($1.4 million) in TWF Flours, a burgeoning startup based in Noida. This marks TWF Flours’ inaugural institutional funding round since its establishment in 2019. Having previously secured seed funding from notable figures in the startup ecosystem such as Rajaraman Santhanam (cofounder of Chargebee), Shan Krishnaswamy (cofounder of Freshworks), and Sharath Longanathan...

BUSINESS, FINANCIAL NEWS, LOCAL NEWS

Zepto Pass: Revolutionizing Quick Commerce in India

February 29, 2024/

Zepto, the emerging player in India’s quick commerce market, has made waves with the official launch of its subscription service—Zepto Pass. This bold move is set to redefine the landscape of on-demand grocery delivery and intensify competition among industry giants. During its pilot phase, Zepto Pass demonstrated remarkable success, with a significant portion of orders originating from subscribers within a short timeframe. The subscription model, priced affordably between 19 and 39 rupees...

FINANCIAL NEWS, LOCAL NEWS

Insights from Mobile World Congress: Bharti Enterprises’ Strategic Shift and Meta’s Data Controversy

February 29, 2024/

The Mobile World Congress (MWC) in Barcelona served as a platform for industry leaders to unveil their strategic visions and address pressing concerns. Sunil Bharti Mittal, chairman of Bharti Enterprises, shared insights into the conglomerate’s plans, while Meta, the parent company of Facebook and Instagram, faced scrutiny over its data processing practices. Bharti Enterprises outlined a strategic shift focused on streamlining non-core businesses and accelerating the digital transformation of Airtel. Mittal emphasized...

BLOG, FINANCIAL NEWS, NEWS

Atos Halts Sale of Legacy IT Services Business: What’s Next?

February 29, 2024/

French IT services giant Atos recently halted its plans to sell its struggling legacy managed infrastructure services business, Tech Foundations, after failing to reach an agreement with prospective buyer EP Equity Investment. This decision underscores the challenges Atos faces in navigating its strategic direction amidst financial pressures and leadership transitions. The failed negotiations with EP Equity Investment, without any cancellation fees, have prompted Atos to reconsider its options. Despite the setback, Atos...

BLOG, FINANCIAL NEWS, LOCAL NEWS

Sunil Bharti Mittal Awarded Honorary Knighthood by King Charles III

February 28, 2024/

Sunil Bharti Mittal, the visionary Founder and Chairperson of Bharti Enterprises, has been bestowed with the prestigious Honorary Knighthood by King Charles III in the United Kingdom. This remarkable recognition marks a historic moment, as Mr. Mittal becomes the first Indian to receive a Knighthood from King Charles. Key Highlights: Sunil Bharti Mittal’s Honorary Knighthood exemplifies his outstanding contributions to the global business landscape and underscores his unwavering commitment to fostering enduring...

BUSINESS, FINANCIAL NEWS

Mswipe Technologies: Pioneering Growth in India’s Digital Payments Landscape

February 28, 2024/

Mswipe Technologies, a leading player in India’s digital payments ecosystem, recently announced the closure of a $20 million growth equity round, led by Alpha Wave Global, with participation from existing investors. This funding marks a significant milestone for the Mumbai-based company, coming after a gap of almost five years. The infusion of fresh capital will fuel Mswipe’s expansion initiatives, enabling the company to enhance its merchant payment network, strengthen product development, and...

BUSINESS, FINANCIAL NEWS

Ducon Infratechnologies Ltd.: A Penny Stock on the Rise with Strategic Partnerships

February 28, 2024/

Ducon Infratechnologies Ltd., a penny stock with a market capitalization of Rs 257.60 crore, has recently captured the attention of investors by hitting an upper circuit of 2 percent. The surge in trading activity follows the signing of a Memorandum of Understanding (MoU) with Germany’s Deltavision, signaling a strategic move into the rocket propulsion and hydrogen mobility markets in India. The trading session commenced on a positive note for Ducon Infratechnologies Ltd.,...

BUSINESS, FINANCIAL NEWS, LOCAL NEWS

Farmtheory Raises $1.45 Million in Seed Funding Round to Revolutionize B2B Agri-Food Industry

February 28, 2024/

Farmtheory, a dynamic business-to-business (B2B) agri-food startup based in Bengaluru, has made waves in the investment landscape with its recent successful seed funding round, securing a substantial $1.45 million (approximately Rs 12 crore). Merak Ventures led the charge in this significant milestone for the company, marking a pivotal moment in its journey toward transforming the agri-food sector. Founded in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory has emerged as a beacon...

FINANCIAL NEWS, LOCAL NEWS

Shadowfax Secures $100 Million Funding Led by TPG NewQuest: A Step Closer to Logistics Innovation

February 28, 2024/

In a significant development underscoring the burgeoning potential of India’s logistics landscape, Shadowfax, a leading new-age logistics services provider, announced on Tuesday that it has successfully raised $100 million in a blend of primary and secondary funding for its Series E round. The financing round, spearheaded by TPG NewQuest, marks a pivotal milestone in Shadowfax’s journey towards revolutionizing last-mile delivery solutions in the country. While specific valuation details remain undisclosed, industry insiders...

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