TECHNOLOGY DEVELOPMENT FUND
Interest subvention likely to push energy efficiency among MSMEs
The power ministry has begun discussions on offering interest subvention under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishment (ADEETIE) Scheme for adoption of energy efficient technologies, people aware of the developement said.
Gates’ climate firm sets sights on developing world
Breakthrough Energy advances global innovation, emphasizing cost reduction and universal innovation for sustainable development.
Cloudphysician raises $10.5 million in funding round led by Peak XV Partners
Online healthcare and technology solutions provider Cloudphysician has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners, along with Elevar Equity and venture debt firm Panthera Peak. The startup will use the capital to strengthen its presence in India, enter other countries and develop its AI platform.
Indian deep tech startups count surges in 2023 but funding plummets 77%: Nasscom
Total $850 million was raised in 2023 itself -- this is a 77% decline over $3.7 billion raised in 2022. The number of deals, meanwhile, declined by 25% in 2023 over 2022, it said.
India can be the great link joining the largest population of developers to AI’s immense possibilities
India is projected to surpass the US as the largest software developer community by 2027, with the digital economy contributing significantly to its overall economy. AI tools are revolutionizing software development, leading to substantial gains in productivity. The country's focus on early education in programming and the promotion of open-source collaboration are key factors driving this growth.
Herd on PE Street: TPG outruns everyone in race for Altimetrik
Last month, its Asia-focused fund TPG Asia VIII secured $5.3 billion in aggregate capital commitments. That made it the firm’s largest Asia fund in 30 years of investing in the region. Since inception, TPG Asia has ploughed more than $13 billion into core sectors including consumer, healthcare, financial services and TMT/new economy and the fund has realised more than $16 billion, according to its website.
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Deep tech policy before cabinet soon to unlock long-term funds
The government plans to introduce a deep tech startup policy with a fund of funds for companies in the sector. An umbrella framework will guide state governments and startups. The policy will focus on research, development, innovation, intellectual property, and funding access for deep tech startups. Comments have been sought from 18 different ministries and government departments so far.
Startup develops AI tool that creates multi-faceted authentication system
A woman-led start-up has developed an AI-based tool 'Divya Drishti' integrating facial recognition with gait analysis. Founded by entrepreneur Shivani Verma after winning 'Dare to Dream 2.0', the tool offers enhanced accuracy in biometric authentication.
Consumer electronics startup Indkal Technologies raises $36 million in funding
Indkal Technologies, a consumer electronics startup, raised $36 million in funding led by Aries Opportunities Fund. The 2020-founded firm manufactures products for global brands like Acer and Black & Decker.
EV component maker Indigrid Technology raises $5 million in funding from Cactus Partners
Indigrid Technology raises $5 million in funding from Cactus Partners for electric vehicle components.
Moving beyond Airbus & Boeing: What will it take for India to make its own commercial airliner?
India is already a growing sourcing hub for the global defence and aerospace industry. With government help, this ecosystem can, in time, be developed to support the development of a commercial plane. That is how we made our space programme, experts point out.
Pakistani Prime Minister Sharif meets China's Xi in Beijing ahead of IMF talks
China's President Xi Jinping met Pakistani Prime Minister Shehbaz Sharif in Beijing, affirming China's support for Pakistan's sovereignty and economic development. The meeting occurred ahead of Pakistan's annual budget and anticipated IMF loan application. Pakistan's strategic location on the Arabian Sea is vital for China's trade routes. Pakistan owes China $27 billion, nearly 13% of its total debt, mainly for infrastructure projects. Xi emphasized the importance of the China-Pakistan Economic Corridor and called for enhanced security for Chinese projects, following a recent attack on Chinese engineers.
BJP allies push for key positions as Modi prepares for third term; Here's what the demands are
Two days after the Lok Sabha election results, the BJP's allies in the NDA are negotiating for key posts in the new government. With the BJP falling short of a majority, parties like TDP, JDU, Shiv Sena, and LJP-Ram Vilas are crucial for reaching the majority mark. N Chandrababu Naidu and Nitish Kumar have emerged as kingmakers, pushing for prominent roles as discussions continue ahead of Narendra Modi's third swearing-in ceremony.
Marketing firm Maino.ai raises $1.8 million in funding led by India Quotient
A substantial portion of the funds will be allocated to building and scaling teams in key domains such as technology, product development, design, and strategy, said Rishabh Kumar, one of the three cofounders of Maino.ai.
China's Space Pioneer raises $207 million to fund rocket development
Space Pioneer, also known as Beijing Tianbing Technology Co, is among a small group of rapidly growing private-sector rocket developers, spurred by the government's call to transform China into a major power in space.
Cisco launches $1 billion AI fund and makes first investments
Cisco through its investment arm, is investing in Cohere, Mistral AI and Scale AI, among others, and has already committed nearly $200 million of the fund.
Government won't protect anyone in illegal money transfer case, says Karnataka CM Siddaramaiah
Karnataka Chief Minister Siddaramaiah and Deputy CM DK Shivakumar stated that the state government will not shield anyone involved in the illegal money transfer case at the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd. They promised action according to the law. The BJP demanded Minister B Nagendra's dismissal and a CBI probe. A suicide note revealed unauthorised transfer of Rs 187 crore, leading to a SIT probe led by Manish Kharbikar. Happiest Minds Technologies Ltd denied any connection to the embezzled funds.
Tata Capital Healthcare Fund invests $20 million in Orbicular Pharmaceutical Technologies
The specialty generics has a market size of $60 billion and is rapidly expanding, driven by increasing demand for cost-effective alternatives to complex and high-cost branded medications. “Under the able leadership of Dr. M.S. Mohan, Orbicular has developed a strong product pipeline for the regulated markets," said Visalakshi Chandramouli, managing partner, Tata Capital Healthcare Fund.
Climate tech has a promising future in India: Hisham Mundol, Chief Advisor, Environmental Defense Fund, India
Environmental Defense Fund (EDF) wants India to become the first major economy to industrialise without carbonising, says Hisham Mundol, Chief Advisor, Environmental Defense Fund, India.
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.
Creating an Export Development Fund is crucial for the MSME ecosystem: FIEO’s Ashwani Kumar
A budgetary support equivalent to 1% of preceding year’s export value should be made available every year through the budget grant to the Department of Commerce, he says.
How much is Indian MFs' exposure to US tech stocks & how have they performed? Prasad Sawant explains
Prasad Sawant from IIFL Securities mentions high returns from Mirae Asset and other US tech-focused mutual funds. Nvidia's success led to a 170% return. Indian mutual funds have exposure to US tech stocks like Microsoft, Apple, Google, and Nvidia.
IIT-Madras to provide funds to incubate sports-tech startups
IIT-Madras to fund sports-tech start-ups with AI and IoT products. Funds from IIT-Madras Pravartak Technologies Foundation and CESSA. Focus on sports tech incubator fund.
The crypto market Is developing rapidly, okens poised for massive rally
It's clear that SingularityNET, Starknet, Aptos and Cosmos are all experiencing bullish trends, yet KangaMoon (KANG) stands out as a project which can experience the most significant price breakout due to its entry into the rapidly expanding P2E market. Its user-base of over 20,000 users also positions it as a strong contender in the altcoin space, and these aspects make it an attractive option for investors seeking to diversify their crypto portfolios further.
Russia economy resilient; Gaza war weighs on neighbours: EBRD
The EBRD forecasts Russia's economy to grow by 2.5% in 2024 despite Western sanctions. Israel's war against Hamas will affect neighboring nations. EBRD issued GDP projections and highlighted the impact of the Gaza conflict on Mediterranean countries' economies.
IIT Madras raises 513 crore from alumni, corporates and donors in FY 23-24
The alumni did most of the heavy lifting, contributing Rs 368.19 crore, followed by the CSR segment contributing Rs 95.53 crore, with the rest coming from other sources.
BITS Pilani alumni Anuradha and Prashanth Palakurthi and Sid Mookerji pledge $2 million to the BITS Endowment Fund
BITS Pilani alumni Sid Mookerji and Anuradha and Prashanth Palakurthi have pledged $1 million each to the BITS Endowment Fund, totaling recent commitments to $3 million. Prashanth Palakurthi, a technology entrepreneur, and Anuradha, his wife, previously donated $1 million to establish the Anuradha and Prashanth Palakurthi Centre for Artificial Intelligence Research in 2018. The Mookerji Foundation, founded by Sid Mookerji and his wife Sophie Mookerji, pledged $1 million to support entrepreneurship development initiatives.
This small cap mutual fund gave 34% returns in three years; should you invest?
Nippon India Small Cap Fund: This small-cap fund’s asset base continues to grow, which has led to its portfolio size ballooning to nearly 200 stocks. Despite its bulky portfolio, the fund has put in an impressive show in recent years, consistently outperforming the index and peers, while boasting superior risk metrics.
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