BHARAT INNOVATION FUND
Budget 2024: IMA writes for higher dosage of fund allocation and more on Nirmala Sitharaman's prescription list
Budget 2024: The Indian Medical Association has demanded increased allocation of financial resources in the budget, advocating a tax-based system of health financing, the medical body said in a letter written to Finance Minister Nirmala Sitharaman on Saturday
Explosive growth: How defence sector became a darling of investors
Motilal Oswal Nifty India Defence Index Fund breaks records by collecting Rs 1,676 crores during its NFO period. India's defence sector experiences growth through indigenisation efforts and increased investments. The country aims to enhance its defence production capabilities and boost exports in the coming years.
Suzuki launches Rs 340 crore investment vehicle Next Bharat Ventures for Indian startups
The company will invest in firms through a residency programme, the first of which will begin this October, with applications starting on Thursday. This will be similar to those run by Antler and Y Combinator.
Tech-first brokers hit a snag; Foxconn’s Bharat FIH in trouble
Happy Thursday! Online stock brokers, who used low fees to attract customers, now face an uncertain future with Sebi’s new rules. More on this in today’s ETtech Morning Dispatch.
Heavy machinery manufacturer Autocracy Machinery raises pre-series A of Rs 6 crore led by VC Grid, VCats and others
Autocracy Machinery cater to multiple sectors such as agriculture, telecommunications, landscaping, civil engineering and infrastructural development. The Hyderabad-based company will use the funding to enhance its research and development capabilities, expand its manufacturing and marketing footprint, and drive innovation in heavy machinery technology.
Matter Motors raises Rs 82 crore from Japan Airlines & TransLink Innovation Fund, others
EV bike maker Matter Motors raised Rs 28 crore in funding led by investors Japan Airlines & TransLink Innovation Fund among others. The company competes with automakers like Ultraviolette and Tork Motors.
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Matter Motors raises Rs 82 crore from Japan Airlines & TransLink Innovation Fund, others
Matter Motors secures significant funding from diverse investors, propelling expansion plans. With a competitive market landscape, the company aims to deliver innovative electric motorcycles globally, targeting European markets like Turkey and Spain for growth.
Bharat Forge's Amit Kalyani on what's wrong with India's EV model and whether green hydrogen is the silver bullet
The London session emphasized innovative EV approaches, green financing, and electrification for energy transition. It celebrated the London Stock Exchange's role in supporting Indian companies and capital flows, showcasing financial expertise for India's growth.
Capacity boost for EPFO, ESIC to pave way for labour reforms
The Social Security Code, 2020, passed by Parliament in 2020, entails extending social security to gig and platform workers. Some of the changes envisioned for retirement fund body EPFO in the short, medium, and long term include restructuring of its offices, business process re-engineering, and leveraging IT for automatic settlement of claims and cadre restructuring.
India well poised to benefit from great opportunities coming from hotels and hospitality sector: Puneet Chhatwal, IHCL
And if things keep going this way, and it is anybody's guess, I know that there is a new book coming out in the market which predicts India at 47, with more than 50 trillion economy and there are others that are predicting at 27 or 28.
$250K funding for ONDC hackathon topper firms
The Build for Bharat initiative was started in New Delhi in December last year in collaboration with the government’s Startup India platform, Google Cloud India, Antler in India, Protean and Paytm. It was organised in more than 50 cities with experts, leaders, venture capitalists and incubators onboard.
Ecommerce in slow lane; PhonePe-BharatPe truce
Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. This and more in today’s ETtech Morning Dispatch.
Industrial policy is back. Is this what India needs for an ‘atmanirbhar’ economy?
Mere rise in GDP growth numbers are not enough. What India needs to become a global manufacturing powerhouse is a well-outlined policy that gets the wheel spinning on job creation, skills and holistic growth — especially as the world tilts towards protectionism.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
ETtech Deals Digest: Startup funding plummets 88% on year to $26 million this week
Goodwater Capital emerged as the topmost investor in terms of deal volume in the latest week.
Fitness startup Portl raises $3 million led by Bharat Innovation Fund
The round saw participation from T-Hub Foundation and existing investor Kalaari Capital. The fresh capital infusion will help the 2021-founded startup’s product development, market expansion, and enhancement of its artificial intelligence (AI) systems.
Is India suffering from an unemployment issue? PM Modi says the country is generating jobs
Prime Minister Narendra Modi defended his government's job creation efforts, citing a significant increase in taxpayers and EPFO subscribers, and growth in the startup sector. Modi emphasised his vision of a 'Viksit Bharat,' where every Indian can dream big. He highlighted achievements in manufacturing, research, and self-reliance. He pledges to focus on infrastructure and development if re-elected for a third term.
Drone-based agritech startup BharatRohan raises $2 million
BharatRohan, a startup, raised $2.3 million pre-IPO for developing advanced drones for crop monitoring. The fund will expand services nationwide, supporting 50,000 farmers across five states with hyperspectral sensors for precise agricultural insights.
Innovaccer’s new funding round; ONDC’s logistics push
Happy Thursday! SaaS startup Innovaccer is in discussions to raise funding at a flat valuation of $3 billion. This and more in today’s ETtech Morning Dispatch.
Nalin Negi is new BharatPe CEO; Namma Yatri’s cabs play
Fintech firm BharatPe has elevated its interim CEO Nalin Negi as the company’s full-time chief executive officer. This and more in today's ETtech Top 5.
From Steam Engine to Vande Bharat: Tracing the 171-year journey of Indian Railways since April 16, 1853
Indian Railways, established in 1853, boasts a remarkable 171-year journey shaping India's transportation landscape. Starting with the Bombay-Thane route, it rapidly expanded, witnessed electrification, and embraced modernization through reorganization and technology. PM Modi's vision includes expanding Vande Bharat trains nationwide and introducing bullet trains, exemplifying a commitment to innovation. With substantial investments and proactive surveys, Indian Railways is poised for transformative growth, continuing to be a vital link in India's development story.
ClaimBuddy secures $5 million in Series A funding
ClaimBuddy was founded with an aim to find a seamless solution in the Healthcare financing space, to address the challenges faced by patients and hospitals in the health insurance claim process.
Startup Mahakumbh: PM Modi says India will become the world leader in AI
Startup Mahakumbh: PM Modi lauded India's youth's entrepreneurial spirit and the flourishing startup ecosystem on the last day of Startup Mahakumbh event, emphasising government support for innovative ideas, funding channels, incubators, IT services growth, AI strength, job creator mindset, women leading startups, and Rs 1 lakh crore fund.
GPU access to power up India’s AI play: experts
AI Mission will help startups make in India and for the world, say tech investors. The Rs 10,372-crore Artificial Intelligence (AI) Mission, announced on Thursday, will operate on a public-private partnership model.
Easing of FDI norms: Space industry says it will pave way for growth, innovation
India's private space industry has welcomed the easing of its Foreign Direct Investment (FDI) policy, describing it as a "pivotal move" to boost investments and increase the country's share in the global space economy. Industry leaders believe that the government's decision to permit 100% overseas investment in satellite component manufacturing and up to 49% FDI through the automatic route for launch vehicles and associated systems or subsystems has provided much-needed clarity for the sector.
India Budget 2024: Season 2 Finale Episode ends on a high note
The budget finale of Modi government Season 2 left us satisfied with clear indications of future plot ideas. The main characters gave a powerful performance, with controlled fiscal deficit, lower government borrowing, and healthy tax collections. We were excited by the development of new plot points, including the Rs. 1 Trillion innovator's fund for technology development, deep tech defence technology, and stress on EV adoption. The budget also emphasized green energy with announcements for rooftop solar, EV adoption, and wind energy funding. The allocation for semiconductor and display manufacturing was significantly increased. We eagerly await the next season.
Veteran banker Deepak Parekh among others invest in Nephrocare India's pre-IPO funding round
Nephrocare India has completed its pre-IPO funding round, under which marquee investors including veteran banker Deepak Parekh, Bharat Shah, Rajendra Agarwal among others participated.
Hindi LLM maker Sarvam AI to open platform for business
Founded by former AI4Bharat researchers Vivek Raghavan and Pratyush Kumar in July, Chennai-headquartered Sarvam is planning to release models in other Indian languages in the coming weeks.
Ashneer Grover apologises, Delhi HC imposes Rs 2 lakh costs over posts against BharatPe
The Delhi High Court has imposed Rs 2 lakh as costs on BharatPe co-founder Ashneer Grover in the matter related to his alleged defamatory social media posts against the fintech company even as he tendered an apology for his conduct
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