Page 23 - Fundings

Insurtech startup Bimaplan raises $3.5 mn in pre-series A funding round

Company will use the money to improve technology platform, expand distribution

Core business loss at edtech giant Byju's may only be tip of iceberg

The financials announced by Byju's are based on an 'unqualified FY22 audit' that indicates the auditor is satisfied with the company's financial reporting

Vedanta nears deal to raise $1.25 billion funding via private loan

Representatives for Vedanta also proposed delaying payments on the dollar bonds, a plan that met with investor opposition, Bloomberg reported on Sept. 28

Aequs raises Rs 448 cr in funding round led by Singapore's Amansa Capital

Aequs, which operates a precision manufacturing platform in aerospace and other verticals, will use the growth capital to launch a new Advanced Technology Products (ATP) vertical

Manipal Group chairman Ranjan Pai in talks to invest $350 mn in Byju's

The capital from Pai is expected to help Byju's release the pledge on shares of Aakash, which were offered as collateral for the Davidson Kempner loan

Wadhwani AI receives $3.3 million in grant funding from Google.org

At present, Wadhwani AI advises farmers on pest management for cotton crops and aims to now also protect India's staple food crops

Who funds Hamas? A global financing network of crypto, cash, charities

Between December 2021 and April this year, Israel seized almost 190 crypto accounts it said were linked to Hamas

Funding green growth

Private sector will need to increase investment

IMF, World Bank urged to boost funding for African nations facing conflict

Many poor countries in Africa face the harshest effects of climate change: severe droughts, vicious heat and dry land, but also unpredictable rain and devastating flooding. The shocks worsen conflict and upend livelihoods because many people are farmers work that is increasingly vulnerable in a warming world. Climate challenges are at the root of vulnerabilities faced by conflict-ridden countries in Africa's Sahel region, such as Burkina Faso, Chad, Mali, Niger and northern Nigeria, experts say. Adapting to these challenges could cost up to USD 50 billion per year, according to the Global Commission on Adaptation, while the International Energy Agency estimates the clean energy transition could cost as much as USD 190 billion a year overwhelming costs for Africa. Countries have limited space in their budgets, and borrowing more to fund climate goals will worsen their considerable debt burdens, argue African leaders, who are seeking a rapid boost in financing. Some leaders suggest

Funding to Indian fintechs up 68% to $436 million in Q3CY23: Tracxn

However, on a year-on-year basis, funding to Indian fintechs has slumped 55 per cent from $967 million raised in Q3 CY22

PGIM India forays into Rs 8-trn AIF space with Category III fund launch

Fund to focus on multi-year growth trends, identifies discretionary consumption, manufacturing as top themes

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