Page 22 - Fundings

Vedanta close to raising $3 bn from JP Morgan, Standard Chartered: Report

The money will be used to escape default on Vedanta's upcoming payments

Fighter jets, choppers in IAF list of domestic projects worth over Rs 3 trn

The support towards building a major defence industry is key towards achieving a $5 trillion economy as envisaged by Prime Minister Narendra Modi, officials said

'Developed nations' L&D funding proposals threaten progress at COP28'

Experts from the Global South have expressed concern that developed countries' attempts to narrow the eligibility criteria for receiving loss and damage funding and expand the contributor base may slow down negotiations on the critical issue at COP28. They also stressed that developing countries must present a united front during COP28 -- the annual United Nations climate talks -- in Dubai in December to achieve a substantial decision on the matter. The creation of a Loss and Damage Fund (LDF) marked a significant milestone at COP27 in Egypt's Sharm El Sheikh last year and represented the culmination of years of advocacy by climate-vulnerable developing nations. The fund's primary objective is to offer financial support to countries that are highly vulnerable to severe impacts of climate change. Ministerial consultations held in New York last week on the funding arrangements for loss and damage highlighted stark disagreements between developed and developing nations regarding who ..

ADB unlocks $100 bn funding capacity with capital management reforms

The reforms, carried out through an update of ADB's Capital Adequacy Framework (CAF), would expand the bank's annual new commitments capacity to more than $36 billion

Co-working firm EFC exploring FPO, other ways to raise funds for expansion

Co-working spaces firm EFC India on Thursday said it is exploring various options, including Follow-on Public Offer (FPO), to raise funds for expanding its capacity to 60,000 seats by the end of this fiscal. The company said in a statement that it has recently signed around 5 lakh square feet of office spaces in Pune, Noida, Hyderabad, and Kolkata. "We intend to expand the number of seats from the present 25,000-plus to nearly 60,000 by the end of this financial year. We are exploring various options, including FPOs, to raise the necessary funds for these expansions. However, I cannot comment on how much money will be raised at the moment," Umeash Sahhaaii, founder & CEO of EFC Ltd, said. The company has recently concluded a fundraising round of Rs 90 crore through the preferential issue for future expansion. The EFC, which commenced its operations in 2012, is into office infrastructure, co-working spaces, and office design segments. The company got listed on BSE through a reverse

Healthtech SaaS start-up Doceree raises $35 mn in series B funding

Following its entry into the US, India, and European markets, Doceree has also expanded its reach to Africa, Southeast Asia, and the Gulf Cooperation Council countries

Social gaming platform Eloelo raises $22 million in Pre-Series B round

The funds from this round will be utilised to forge partnerships with creators, develop innovative tools across AI and AR (augmented reality)

Veteran entrepreneurs look to ramp up their bets in Indian startups

Founders, after building their own companies, have often sought to invest in newer startups

Serentica Renewables ties up with PFC for Rs 2,600 cr debt funding

Serentica Renewables on Thursday said it has tied up with PFC for a Rs 2,600 crore debt funding for its upcoming projects in Karnataka. In Karnataka, the company is setting up 400 MW of wind and solar capacities where it has already secured connectivity to the inter-state transmission system (ISTS). "The debt funding...will accelerate our journey towards supplying 40 billion units of clean energy annually to energy intensive industries and displacing 37 million tonne of carbon emissions," Pratik Agarwal, Director, Serentica Renewables said. Parminder Chopra, Chairman & Managing Director, PFC said, this transaction is in line with PFC's expanding role in funding green projects and positioning itself as the focal agency for energy transition. Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. Serentica aims to provide assured

Vertex Ventures' SEA and India arm raises $541 mn, expands investor base

Vertex Ventures Southeast Asia and India (VVSEAI) on Tuesday said it has raised USD 541 million (about Rs 4,489 crore) in a funding round. The VVSEAI Fund V exceeds its target fund of USD 450 million (about Rs 3,734 crore) and is 80 per cent larger than VVSEAI Fund IV raised in 2019, the company said in a statement. The new Fund V raise comes on the heels of cash-on-cash returns from VVSEAI's portfolio and successful exits from its investments in companies such as Grab, FirstCry, XPressBees, Recko, and others. The fund is backed by existing and new limited partners like Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (a German development finance institution), sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe. "Our earlier funds have had superior cash-on-cash returns and are outperforming benchmarks. This track record led most of our investors from VVSEAI Fund IV to return as investors in VVSEAI

Top headlines: KKR to invest in Reliance Retail, gains for rail, infra cos

Business Standard brings you the latest headlines at this hour

Temasek leads $140 mn Ola Electric funding at $5.4 bn valuation: Report

Ola Electric, founded by Bhavish Aggarwal and backed by Japan's SoftBank Group, has become India's e-scooter market leader with a 32% share

Our LPs say it is a great time to invest: Fireside Ventures co-founder

Between strategic exits and private equity (PE) secondary exits, we have a fairly robust exit plan, says Vinay Singh, co-founder of Fireside Ventures

Unicorn India Ventures announces first close of Fund III at Rs 225 crore

With Fund III, UIV aims to build a portfolio of 25 startups that are focused on global SaaS and digital platforms, areas of expertise for Unicorn India

Captain Fresh raises $20 million for global expansion in Series C funding

Captain Fresh, a B2B fish and seafood company, on Tuesday announced raising USD 20 million (around Rs 166 crore) that will help it in expanding in global markets. The extended C funding round saw participation from SBI Investment and Evolvence Capital, among others. "This investment is led by Japan-based SBI Investment and Evolvence Capital, complemented by continued backing from internal investors, including Accel, Matrix Partners India, Prosus Ventures and Tiger Global," a company statement said. Captain Fresh is backed by Ankur Capital and Incubate Fund. "The fresh capital will be purposed towards Captain Fresh's global aspirations, particularly focusing on Europe and the USA. Discussions are already in motion with potential allies in these markets," it added. Founder Utham Gowda said it is a transformative juncture in our aim to establish Captain Fresh on the global stage. "Over the past three years, we've built significant supply side capacity by establishing a robust networ

MediBuddy raises $18mn in additional funding, to grow via acquisitions

A substantial portion of these funds will be meticulously channelled into strategic acquisitions and fortifying its existing offerings

BS Startup: Robotics company Ati Motors disrupting logistics sector

The company's advanced autonomous mobile robots (AMRs) combine artificial intelligence, computer vision, and state-of-the-art hardware to perform complex tasks in dynamic environments

Go First seeks emergency funding of Rs 100 crore from creditor banks

The funds will go towards operational costs such as insurance and repairs that could keep the airlines afloat

UK announces 95,000-pound new funding to tackle pro-Khalistani extremism

The United Kingdom's Security Minister, Tom Tugendhat has announced a new funding of 95,000 pound (around Rs 1 crore) to enhance Britain's capability to tackle "pro-Khalistan extremism". The British High Commission said this in a readout on Tugendhat's three-day visit to India that began on Thursday. The announcement on the new funding comes amid growing concerns in India over increasing activities of pro-Khalistani elements in the UK. Tugendhat is in India to bolster bilateral cooperation on security initiatives and attend the G20 anti-corruption ministerial meeting. "During a meeting with India's External Affairs Minister, S Jaishankar, in New Delhi on Thursday, Tugendhat announced the new funding to enhance the UK's capability to tackle Pro-Khalistan Extremism," the high commission said. It said the 95,000 pound investment will enhance the government's understanding of the threat posed by "pro-Khalistan extremism", complementing the joint work already underway between the UK an

How Indian unicorns are forging profits out of funding winter's ice

"Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand," says Pranav Pai, founding partner at 3one4 Capital