GREEN FRONTIER CAPITAL
Euler Motors raises Rs 200 crore from Piramal Alternatives, others
Euler Motors raised Rs 200 crore in funding led by Piramal Alternatives India Access Fund. The firm aims to become India's top electric commercial vehicle brand, with plans to expand to 40 cities by FY25.
Piramal Alternatives leads Euler Motors’ Rs 200 cr fundraise
Euler Motors, an electric three-wheeler maker, raised Rs 200 crore ($24 million) led by Piramal Alternatives India Access Fund, with British International Investment and Blume Ventures also participating. Total funding now stands at Rs 570 crore. The funds will support expansion to 40 cities and enhance R&D efforts.
Ride-hailing startup BluSmart to raise Rs 200 crore in new funding
BluSmart has raised nearly $24 million or Rs 200 crore in its latest funding round. In January this year, BluSmart had raised $25 million, while in 2023 it conducted funding rounds worth $66 million.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
GH2, green ammonia to drive $125 billion investments in India by 2030: Avendus
Avendus Capital foresees $125 billion investment in India by 2030, propelled by green hydrogen and green ammonia segments. The growth is fueled by sustainability focus, commercial viability, regulatory push, electrolysis of water, and steel industry off-take contracts.
Rooftop solar program to enable 1 crore households to get 300 units free power/month
Prime Minister Narendra Modi had on January 22 announced the program stating it would reduce the electricity bill of the poor and middle class and make the country self-reliant in the energy sector. The program aims to provide electricity to low and middle-income individuals through solar rooftop installations, along with offering additional income for surplus electricity generation.
2023 Year in Review: How money followed deeptech companies at tech’s frontier
Deeptech is a term for businesses using advanced science and technology to find solutions for complicated problems across over a dozen sectors. The year saw a steady increase in investor interest in high-tech innovation-focused companies.
Euler Motors net loss jumps five-fold to Rs 175.44 crore in FY23
The Delhi-based company reported a 250% on-year jump in revenue from operations to Rs 61.53 crore, according to its financial statements filed with the Registrar of Companies.
Electric bicycle-maker EMotorad bags Rs 164 crore in funding
EMotorad will use the funds to build a 150,000 square feet manufacturing facility, said its chief executive Kunal Gupta. The facility will be used to develop and manufacture in-house battery systems, motors, displays and chargers.
EV maker Euler Motors raises Rs 120 crore in down round
The firm had last raised funding in October 2022, when it received an investment of $60 million at a $200-250 million valuation, per news reports and Tracxn.
Euler Motors raises Rs 120-cr in funding round
EV maker Euler Motors has raised Rs 120 crore in a funding round including British International Investment and Green Frontier Capital. The company is determined to use the raised capital to enter 40 cities by the end of FY 2023-24. This series-C extension round takes the tally of total investments to about Rs 690 crore.
Petronas, Singapore’s GIC, Greenko founders set to invest $2 bn in new green platform AM Green
To set up 5 MTPA green ammonia facilities; aims to be among lowest-cost producers of green H2, molecules etc. Once concluded this will be the largest FDI in green molecules space in the country till date.
ETtech Deals Digest: Indian startups raised $206 million this week
Funding this week dipped 86% from the same one-week period last year, when startups had raised $1.5 billion across 66 rounds. And compared to last week’s $1.26 billion worth of investments in startups across 18 rounds, funding activity plummeted by 84% this week.
Luxury D2C skincare brand RAS raises $1.5 million in funding from Green Frontier Capital, others
Founded by Sangeeta Jain and her two daughters Shubhika Jain and Suramya Jain, the luxury direct-to-consumer (D2C) skincare and beauty brand claims to be growing 300% year-on-year since its inception in 2017.
Animal-free protein maker Zero Cow Factory raises $4 million
The funds will be used to accelerate the company’s research and development efforts, scale up production capacity and also obtain regulatory approvals to go commercial.
ETtech Deals Digest: Indian startups enter 2023 as funding winter still looms
Here is a list of startups that got funded this week.
G20 presidency: India can unleash a Green Frontier development model that will drive competitiveness, jobs & GDP growth
To accelerate climate finance, it is necessary to scale up various multilateral development banks like the World Bank, including the International Finance Corporation (IFC), as well as various development finance institutions.
PE funds in electric vehicles may cross $1 billion in 2022
Investors pumped in $904 million through 26 deals in the nine months to the end of September, including in battery manufacturing and battery swapping and charging stations, according to data from Venture Intelligence. In 2021, the sector had received $1.8 billion in investment from 31 deals.
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