Ather Energy, the electric two-wheeler manufacturer founded by Tarun Mehta and Swapnil Jain, has filed its Draft Red Herring Prospectus (DRHP) with SEBI to launch an initial public offering (IPO) worth INR 3,100 crore. The company, known for its innovative electric scooters, aims to raise funds to accelerate its growth and expansion.
The IPO will consist of a fresh issue of equity shares worth INR…
Playbook Partners Secures $130 Million in Initial Close, Targets $250 Million with Green Shoe Option
Playbook Partners, a Growth Capital (GC) firm, has successfully raised over $130 million in its first close within just four months. This significant capital influx comes from a diverse group of global investors spanning Europe, the US, the Middle East, and India.
With the green shoe option available, Playbook Partners aims to expand the fund to a total of $250 million. The firm plans to invest in…
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…
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…
Indian tax officials are seeking $101 million from Byju’s, an education-technology company now facing insolvency. Once valued at $22 billion in 2022, Byju’s, supported by General Atlantic, has encountered significant financial troubles due to regulatory challenges and a dispute with U.S. lenders demanding $1 billion in unpaid debts.
Currently managed by court-appointed resolution professional…
Tata Group has committed ₹950 crore to Agratas, its battery manufacturing subsidiary, to strengthen its foothold in the new energy sector. Agratas is spearheading the establishment of advanced battery production facilities, with plans to build a 40 GWh gigafactory in the UK and a 20 GWh plant in Sanand, Gujarat.
According to Tata Sons’ 106th annual report, the new plants are part of a broader…
Drip Capital, a digital trade finance platform, has successfully raised $113 million in a recent funding round, combining equity and debt to further its growth and diversify its product offerings for small and medium-sized businesses (SMBs) in key markets such as India and the US.
This funding round includes $23 million in equity from Japanese institutional investors GMO Payment Gateway and…
Infosys co-founder N Narayana Murthy recently imparted valuable life lessons to students at Mount Everest School in Byatarayanapura. Speaking on September 3 as part of the Times of India’s ‘Teach for India’ Leaders Week, Murthy encouraged the young audience to aim beyond his own accomplishments.
When asked by a student how to emulate his success, Murthy responded, “I do not want you to…
Dr. Subhash Chandra, Chairman Emeritus of Zee Entertainment Enterprises Ltd. (ZEEL), has made serious allegations against Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI). Chandra accuses Buch of corruption and unethical behavior, claiming she is largely responsible for the collapse of the Zee-Sony merger and has attempted to harm other affiliated companies.
In a…
Mygate Enters Consumer Electronics with Smart Door Locks
Mygate, a leader in residential security solutions, has announced its foray into the consumer electronics market with the launch of Mygate Locks—a new range of smart door locks designed to offer enhanced home security with digital convenience. The product lineup includes three variants: Lock SE, Lock Plus, and Lock Pro, all of which enable…
