Cylib, a promising startup backed by luxury sports car manufacturer Porsche and appliance giant Bosch, is set to revolutionize battery recycling in Europe with a new, expansive facility in Germany. The new plant, located in Dormagen, North Rhine-Westphalia, will cover 236,000 square feet and aims to recycle up to 30,000 metric tons of end-of-life batteries annually. This will make it the largest…
In a remarkable display of financial prowess, Deepinder Goyal, the CEO of Zomato, has secured his place as Gurugram’s second-richest individual, according to the latest Hurun India Rich List 2024. Goyal’s wealth has soared to an impressive Rs 9,300 crore (approximately $1.1 billion), placing him among the elite group of 23 people in the city with a net worth exceeding Rs 1,000 crore.
Despite…
In a significant boost to India’s domestic manufacturing sector, Dixon Technologies has secured a major contract from American tech giant HP to produce laptops and desktops. This move aligns with the Indian government’s ongoing efforts to enhance local production through the ‘Make in India’ initiative and capitalize on the Production Linked Incentive (PLI) scheme for IT hardware.
New…
The United States and India have embarked on a significant partnership to enhance the global semiconductor supply chain, marking a crucial development in their technology collaboration. The US Department of State will work alongside India’s Semiconductor Mission, which falls under the Ministry of Electronics and Information Technology (MeitY), to expand and diversify the semiconductor ecosystem.
India has surpassed the US to become the second-largest market for 5G handsets, according to the latest research from Counterpoint’s Market Monitor service. The shift occurred during the first half of 2024, driven by a surge in budget 5G handsets. Notably, brands like Xiaomi, vivo, and Samsung have contributed to this growth by offering affordable 5G options.
Deepu John, Qualcomm’s Senior…
The news agency Asian News International (ANI) has taken legal action against Netflix and the creators of the series IC 814: The Kandahar Hijack, accusing them of copyright and trademark infringement. ANI alleges that the streaming giant and the show’s producers have used exclusive archival footage without proper licensing or consent.
The Lawsuit Details
According to ANI, the series has…
Clean Electric, a promising startup in the energy storage sector, has successfully raised ₹48.5 crore (approximately $6 million) in its Series A funding round. This marks the second round of significant investment for the company in less than two years.
Clean Electric’s Series A Investment Details
According to internal documents accessed through the Registrar of Companies (RoC), Clean…
Apple Inc. is accelerating its efforts to expand and diversify its production capabilities in India, seeking partnerships with local manufacturers to enhance value addition and reduce dependency on Chinese suppliers. The move aligns with Apple’s broader strategy to fortify its global supply chain and mitigate risks associated with geopolitical tensions and supply disruptions.
Karnataka-based…
In a significant move for India’s venture capital landscape, Vikas Choudhary, the former president of Jio, has launched his new investment firm, Playbook Partners. The firm has successfully completed the first close of its inaugural fund, securing $130 million (approximately INR 1,091 crore) out of its targeted $250 million (approximately INR 2,099 crore). This achievement comes within just four…
Chai Discovery, a nascent AI-driven biology startup, has secured nearly $30 million in funding from prominent investors Thrive Capital and OpenAI. Founded just six months ago, Chai aims to revolutionize drug discovery by utilizing AI to predict the structure of biochemical molecules and manipulate their interactions, a critical step in developing new medications.
Joshua Meier, the company’s…
