Page 6 - Companies

European consumer electronics firm Thomson eyes 10% market share in India

European consumer electronics firm Thomson on Thursday announced a range of air conditioners in India with an aim to capture 10 per cent market share.

New UK bill to send tech CEOs faster to jail if fail to comply

The UK government said that its revised online safety law will speed up the process against tech CEOs to send them to jail if their platforms fail to comply with the Online Safety regulation.

HAL signs pact with SASMOS to work together in aerospace domain

Hindustan Aeronautics Limited (HAL) has signed an MoU with Bengaluru-based company SASMOS to work together on advanced electronics, electrical and fibre optic interconnections in the aerospace domain. The a memorandum of understanding was signed between the two companies on March 11. HAL's subsidiary Naini Aerospace Limited (NAeL) was also a signatory to the MoU, SASMOS' statement noted. "The MoU is intended to explore business cooperation, especially in the northern India, through utilization of capacity and capabilities of NAeL to bring their expertise in fibre optics, electronics and electrical interconnected system in the aerospace domain through the support from HAL and SASMOS," it added. Under the MoU, HAL and SASMOS will "work together in the field of advanced electronics, electrical and fibre optics interconnections in the aerospace domain", it mentioned.

Mahanadi Coalfields Limited becomes largest coal producing company in India

The Mahanadi Coalfields Limited (MCL) has crossed 157 million tonne (MT) in coal production in the financial year of 2021-22, to become the leading coal producing company in the country

Payworld expects to double revenue in FY23, increase transaction by 40%

Fintech firm Payworld expects to increase gross transactions on its platform by about 40 per cent and double net revenue in the next financial year, a top official of the company said. Payworld CEO Praveen Dhabhai told PTI that the company expects gross transaction value (GTV) on its platform to grow about 46 per cent to Rs 11,000 crore in the current financial year from Rs 7,500 crore it recorded in 2020-21. "This financial year we will close at about Rs 11,000 crore and for the next financial year we want to grow our GTV by 40 per cent but we are planning to almost double our net revenue," Dhabhai said. Payworld provides a platform to retailers for selling train tickets, Aadhaar-enabled payment services, mutual funds,insurance sale, Fastags etc. Dhabhai said the company is adding more services and partnering with B2B e-commerce platforms to enable retailers to source products directly without any need for visiting wholesalers or distributors. "We add 25,000-30,000 retailers ever

Macleods Pharmaceuticals recalls products in US for manufacturing issues

Macleods Pharmaceuticals is recalling two products in the US market due to deviation from standard manufacturing norms, according to a USFDA report.

Edtech unicorn Unacademy to open offline experience centres

Company has plans to establish similar touchpoints across the country starting with Kota, Jaipur, and Lucknow

Live video infrastructure startup 100ms raises $20 mn in Series A funding

100ms aims to bring real-life interactions to the virtual world by providing developer tooling for live video

Indian co-founded edtech startup Cialfo extends series B funding to $60 mn

Cialfo began its India operations in 2019 and has already enrolled over 300 high schools and 60 universities from the country as members

UnlistedKart App makes its debut in the unlisted stock market

In the past 4 years, UnlistedKart has been at the forefront of the unlisted stock space, achieving a collective top line of 250-plus crores

Exide to set up Lithium-ion cell plant, signs agreement with China's SVOLT

Under the the agreement, SVOLT will grant Exide an irrevocable right, licence to use, exploit and commercialise necessary tech and know-how owned by them for Li-ion cell manufacturing in India

Curefoods acquires majority stake in milkshake brand Frozen Bottle

This is the 20th acquisition by Curefoods in two years

Kuku FM raises $19.5 mn in series B funding led by S Korea's KRAFTON

With this latest round of funding, Kuku FM has secured a total of $25 million since its inception in 2018

Krafton infuses $19.5 mn in Indian audio content platform Kuku FM

South Korean gaming giant Krafton has pumped in $19.5 million in homegrown audio content platform Kuku FM, the startup announced

Vishal Garg-led Better.com fires workers in US, India in mass layoff

Indian-American CEO Vishal Garg-run digital mortgage company Better.com on Wednesday started laying off thousands of employees in the US and India who received severance cheques in the payroll app

India Exposition Mart files draft papers; aims to raise Rs 600 cr via IPO

India Exposition Mart Ltd, a leading integrated exhibitions and conventions venue, has filed a preliminary prospectus with markets regulator Sebi to raise Rs 600 crore through an initial public offering. The initial share-sale comprises fresh issue of equity shares aggregating up to Rs 450 crore and an offer-for-sale (OFS) of up to 11,210,659 equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). Those offering shares in the OFS include Vectra Investments, MIL Vehicles & Technologies, Overseas Carpets, RS Computech, Navratan Samdaria, Dinesh Kumar Aggarwal and Pankaj Garg. According to market sources, the company is likely to raise around Rs 600 crore through the initial share-sale. The company may consider a private placement of equity shares aggregating up to Rs 75 crore. If such pre-IPO placement is undertaken, the fresh issue size will be reduced. Of the Rs 450-crore fresh issuance, the company is planning to use about Rs 316.91 crore for

Faasos now largest Indian origin QSR with 500 restaurants in 10 countries

Faasos entered 50 new cities and is the first Indian QSR with wide acceptance to its offering i.e. Indian flavors adapted to local needs

CredAvenue enters unicorn club as valuation triples to $1.3 bn in 6 months

Raises $137 million in Series B funding round led by Insight Partners, B Capital and Dragoneer

CSR spending on the rise but not equitable, skewed towards three sectors

Six states account for a third of total CSR spending; three sectors account for 59.9 per cent of funding.

Curefoods acquires franchise rights for US-based pizza chain Sbarro

Curefoods announced acquisition of the South India franchise rights for US-based pizza chain Sbarro.