EXPONENT ENERGY FUNDING EIGHT ROADS
All that SaaS; AI woes
Happy Friday! Goldman Sachs is likely to increase its stake in SaaS startup MoEngage. This and more in today’s ETtech Morning Dispatch.
EV industry needs to learn to live without FAME subsidies: Exponent Energy CEO
Exponent Energy CEO Arun Vinayak told ET that interoperability in charging infrastructure is good, but standardisation is bad.
Kimbal Technologies raises $5 million in funding round led by Niveshaay
Energy tech startup Kimbal Technologies will use the funds to expand its current operations and come up with new products, aiming to establish a modern power distribution system to the last mile, Kimbal Technologies said in a statement.
GMR Highways raises Rs 700 cr debt to prepay Yes Bank
GMR Highways has raised ₹700 crore debt from foreign portfolio investors Zeal Global Opportunities Fund and Nova Global Opportunities Fund to prepay loans raised from Yes Bank. Both invested ₹350 crore each in secured, unlisted, and unrated bonds of GMR Highways maturing on February 20, 2028. The bonds have been issued at 14% per annum for 48 months, with the company pledging 100% of its equity shares and providing a corporate guarantee.
ETMarkets PMS Talk: Quant funds have grown by 230x in last 10 years and this is just the beginning in India: Siddharth Vora
Siddharth Vora of Prabhudas Lilladher believes that quant funds have significant growth potential in India. The AQUA fund has delivered strong performance, outperforming benchmarks and generating alpha. Its adaptive approach, sector exposures, and style tilts have contributed to its success. In the last seven-eight months is despite the volatility and despite the fear of valuations in India, they have managed 100% equity allocation.
Tracking defence, energy and manufacturing stocks and adding to portfolio: Gurmeet Chadha
Gurmeet Chadha discusses the performance of Bank Nifty, the growth of the MF industry, and the potential in the defence and energy sectors. He highlights the positive outlook for financials, manufacturing, and rate sensitives. He suggests considering investments in HDFC Bank and ITC. He thinks think the problem with a lot of the private banks including HDFC, Kotak etc. is temporary and things will change.
More than just an index and it's not Nifty: A collection of stocks suitable for trading and investing alike
Out of 50 stocks, only 5 of them have delivered negative returns in the last one year. Out of these 5 stocks, three stocks belong to one industrial house which faced headwinds early last year. 7 stocks have delivered more than 100 percent return, 4 stocks have gained between 80 to 100 %, 8 stocks have gained between 60 to 80 %, 5 stocks between 40 to 60 %, 12 stocks have gained between 20 to 40% and 9 stocks have gained between 0 to 20%. So, if you have focussed only on these 50 stocks out of a total universe of more than 3000 stocks which are traded, the probability that you would have been able to make money both in volatile and trending markets and also satisfy your desire to be a trader and investor at same time would have been met. The reason why is stocks? Most retail traders have a tendency to trade with bullish bias and prefer taking long positions rather than going short even when markets are not so bullish.
ETtech Deals Digest: Startup funding rises to $511.47 million on Udaan boost
The latest week saw about 84% of the total capital being deployed in growth- and late-stage startups. Besides Udaan, it included the likes of agritech firm Vegrow, fintech firm Aye Finance and electric vehicle battery tech firm Exponent Energy.
Footpath Ventures eyes stake in Rajasthan Royals; IT hiring picks up
US-based Footpath Ventures is in advanced talks to pick up a stake in Rajasthan Royals, a franchise in the Indian Premier League (IPL). This and more in today’s ETtech Morning Dispatch.
Exponent Energy raises $26 million in funding led by Eight Roads Ventures
Existing investors like Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC and the family office of Pawan Munjal, executive chairman, Hero MotoCorp, also participated, as did TDK Ventures, a new investor.
Mini is mighty: How Patna-based Husk Power is electrifying rural areas around the world
While some of the world’s top renewable energy firms are facing financial constraints, a Patna-based company with a unique business model is busy planning a mega expansion.
EV company Exponent eyes $25 million at $100-120 million valuation
Exponent Energy had last raised $13 million in August 2022 in a Series A led by Lightspeed that valued the Bengaluru-based startup at around $45 million.
Showing (Corri)door to China's clout: How IMEC can help India leverage its trade and geopolitical potential
The precise route map of the corridor will be figured out when the stakeholders meet in the next two months. But a Memorandum of Understanding (MoU) unveiled on the sidelines of the G20 leaders’ meeting shed light on its broader contours — a transit through India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel, and Europe. The proposal also includes a new railway line across the Arabian peninsula, with cables for electricity and digital connectivity and pipes for clean hydrogen running in parallel.
Vinit Bolinjkar on two top bets from Adani Group stocks for long term
So, Adani Energy Solutions with its rapid growth in seeking assets for transmission and Adani Enterprises with its 50 billion dollar investment that they plan to have over the next few years to set up a 10 million tonne green hydrogen end-to-end supply chain augurs very well for this thing.
EV battery maker Exponent eyes funding to grow rapid charging business
Exponent, the maker of electric vehicle batteries that can be fully charged in 15 minutes using its rapid charger, expects to close the round by end of 2023, its chief executive Arun Vinayak said.
In funding winter, VCs migrate to once-shunned EV startups
Lightspeed Venture Partners announced its maiden bet on an electric vehicle (EV) startup by leading a $13 million funding round in Bengaluru-based fast charging startup Exponent Energy on July 17.
L&T to sell 8 roads, transmission project to Edelweiss fund for Rs 7000 crore
The divestment is part of L&T’s asset-light strategy, which has seen the company exit several non-core assets. The L&T Infrastructure Development Projects Ltd (L&T IDPL) concessions have also been part of that list.
PEs to recharge two-wheeler EVs with $2 billion funding
Hero Electric, Ather Energy, Pure EV, Simple Energy, TVS Motor, Oben and Ivoomi are likely to witness private capital inflow, they said, with the larger firms looking to raise around $100-250 million each, while the smaller ones seek about $30-60 million each.
Rising crude oil prices likely to impact infra funding in FY23
Rising energy prices may force the government to reduce the roads and infrastructure cess once again to limit the impact on the prices of crude derivatives such as petrol and diesel.
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