Startup Funding Alert: Electric vehicle startup Rivian gets $2.5 billion in added funding

#startups #fundingalert #startupfunding #ev #electricvehicles

Electric vehicle startup Rivian says it has raised another $2.5 billion in funding from accounts advised by investment firm T. Rowe Price.

The company has a contract with Amazon to build 100,000 electric delivery vans starting next year at its factory, a former Mitsubishi plant in Normal, Illinois. Rivian also is rolling out a pickup truck and an SUV for sale to consumers next year.

The company said that investors in this round include Soros Fund Management, Coatue, Fidelity Management and Research, and Baron Capital Group. Amazon and hedge fund BlackRock have invested previously and also are part of this round, Rivian said.

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Electric vehicle startup Rivian gets $2.5 billion in added funding

DETROIT - Electric vehicle startup Rivian says it has raised another $2.5 billion in funding from accounts advised by investment firm T. Rowe Price. The company has a contract with Amazon to build 100,000 electric delivery vans starting next year at its factory, a former Mitsubishi plant in Normal, Illinois.

Startup Funding Alert: Pune Based Tech Startup 'GigIndia' Raises Rs 7.3 Cr In Pre-Series A Funding Round

#gigworkers #gigeconomy #fundingalert #startupfunding #startupindia

Pune-based tech startup GigIndia has raised Rs 7.3 crore in pre-Series A funding round led by Incubate Fund India with participation from Beyond Next Ventures.

Founded by Aditya Shirole and Sahil Sharma in 2017, GigIndia is a Pune-based tech startup that helps businesses to scale faster with on-demand curated workforce across India.

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Pune Based Tech Startup 'GigIndia' Raises Rs 7.3 Cr In Pre-Series A Funding Round

Pune-based tech startup GigIndia has raised Rs 7.3 crore in pre-Series A funding round led by Incubate Fund India with participation from Beyond Next Ventures. The funding round also saw the participation from existing angel investors S Ramadorai (former TCS CEO); Ravi Nigam (former MD & Co-founder of Tasty Bite Eatables); Kiran Deshpande (former CEO of Tech Mahindra); and Shashank Deshpande (Co-founder of Clarice Technologies).

YourStory Weekly Funding Roundup: Investments into startups touch $106 million for the week July 6-11, 2020

#startupfunding #weeklyinsights #weeklyroundup

YourStory Media - Weekly funding roundup: Investments into startups touch $106 million during the week July 6-11, 2020

As per YourStory Media, the second week of July has been very eventful for the Indian startup ecosystem with total investments crossing the three figure mark of $100 million after a gap of nearly six weeks. This period also witnessed a leading edtech startup acquiring another upcoming company. The total funding during the second week stood at $106 million which was a 194 percent increase when compared to previous week when it was $36 million.

The following startups have raised the funds during the week July 6-11, 2020:-

1. Zolostays Zolo - US $56 mn

2. JetSynthesys Pvt. Ltd. - Rs 300 Cr

3. Specsmakers - Rs 23 Cr

4. Frontier Markets - $2.25 mn

5. PiggyRide - Rs 14 Cr

6. Blue Sky Analytics - $1.2 mn

7. GigIndia - Rs 7.3 Cr

8. Inspektlabs - $0.6 mn

9. Gobbly - $0.5 mn

10. Chai Waale - Rs 1.75 Cr

11. Brigade Real Estate Accelerator Program (REAP) - Undisclosed

12. NOTO - Undisclosed

13. Green Cure Wellness - Undisclosed

14. Earth EnergyEV - Undisclosed

15. Brainwired (Drakon Innovations Pvt ltd) - Undisclosed

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[Weekly funding roundup] Investments into startups touch $106 million

The second week of July has been very eventful for the Indian startup ecosystem with total investments crossing the three figure mark of $100 million after a gap of nearly six weeks. This period also witnessed a leading edtech startup acquiring another upcoming company.

Inc42 Media: Indian Startup Funding Of The Week [July 6- 11, 2020]

#startupfunding #weeklyroundup #weeklyupdate

Inc42 Media: Indian Startup Funding Of The Week [July 6- 11, 2020]

As per Inc42 Media, the following startups have raised funds during the week July 6-11, 2020:-

1. PolicyBazaar.com ($130 Mn)

2. Zolostays Zolo ($56 Mn)

3. Aye Finance Pvt. Ltd ($16 Mn)

4. Zomentum ($4.1 Mn)

5. Specsmakers ($3 Mn)

6. Frontier Markets ($2.25 Mn)

7. PiggyRide ($1.8 Mn)

8. CARS24 ($1.3 Mn)

9. Securden, Inc ($1.2 Mn)

10. Blue Sky Analytics ($1.2 Mn)

11. payAgri Innovations Pvt Ltd ($600K)

12. Chai Waale ($232K)

13. Decentro (Undisclosed)

14. Brainwired (Drakon Innovations Pvt ltd) (Undisclosed)

12. EdHusk (Undisclosed)

13. TagHive Inc. (Undisclosed)

14. Green Cure Wellness (Undisclosed)

15. Earth EnergyEV (Undisclosed)

16. NOTO (Undisclosed)

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Funding Galore: Indian Startup Funding Of The Week [July 6- 11]

SoftBank has infused an additional $130 Mn in PolicyBazaar's parent company Aye Finance has raised $16 Mn in debt, two weeks after raising $27 Mn in venture capital Freshworks has acquired Pune-based cloud platform Flint for an undisclosed amount We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week!

Indian Startup Homefoodi on-boards more than 250 Home Chefs

#darkkitchens #cloudkitchens #startupindia #aatmanirbharbharat #selfreliantindia

Homefoodi , incepted in October 2019, is a Mobile Application for Home Food made by Home Chefs that empowers and connects the society. This Indian startup comes with the aim of making Home-cooked meals accessible to every individual. The company offers a wide range of regional and global cuisines to facilitate eating healthy home-cooked meals. Since the very beginning, there has been a significant increase in the number of Home chefs associated with Homefoodi , it has now touched the 250+ mark.

Homefoodi , co-founded by Narendra Singh Dahiya and Mona Dahiya, is very different from cloud kitchens as their supply ecosystem is 'Home Kitchens' and not 'Commercial Kitchens'. The home-cloud kitchen brand has been very selective and responsible in selecting home chefs. As a practice, the team has visited every home chef to check for food quality, hygiene and cleanliness of their kitchen as well as the packaging standards. All Home Chefs are 100 per cent FSSAI registered.

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Indian Startup Homefoodi on-boards more than 250 Home Chefs

The Made in India Start-Up aims to create self-employment opportunity for one lakh Home Chefs. Homefoodi, incepted in October 2019, is a Mobile Application for Home Food made by Home Chefs that empowers and connects the society. This Indian startup comes with the aim of making Home-cooked meals accessible to every individual.

Startup Funding Alert: Poonawalla, Infy co-founder pile into digital content startup JetSynthesys

#fundingalert #startupfunding #esports #startupindia

JetSynthesys Pvt. Ltd., a digital content and technology platform that is part of the diversified JetLine Group of Companies, has raised Rs 300 crore (approximately $40 million at current exchange rate) in funding.

The capital infusion in Pune-based JetSynthesys has been led by the family offices of Serum Institute of India Pvt. Ltd. chief executive officer Adar Poonawalla and Infosys co-founder Kris Gopalakrishnan.

Other investors in JetSynthesys include the family offices of the promoters of entities such as engineering company Thermax, diversified manufacturer Triveni Group, and the DSP Group. The company operates products and platforms in areas such as gaming, wellness, financial technology, and social entertainment.

It will use the capital it has raised to further develop its suite of digital products and games, as well as strengthen its technological infrastructure in areas such as artificial intelligence, blockchain, augmented and virtual reality, and mixed reality.

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Poonawalla, Infy co-founder pile into digital content startup JetSynthesys

JetSynthesys Pvt. Ltd, a digital content and technology platform that is part of the diversified JetLine Group of Companies, has raised Rs 300 crore (approximately $40 million at current exchange rate) in funding. The capital infusion in Pune-based JetSynthesys has been led by the family offices of Serum Institute of India chief executive officer Adar Poonawalla and Infosys co-founder Kris Gopalakrishnan.

EV Battery Technology: US sodium-ion battery developer raises $35M as storage investment surges

#fundingalert #startupfunding #batterytechnology #batterytech #sodiumion #startups

Natron Energy, a California-based startup developing a battery using Prussian blue analogue electrodes and a #sodium-ion #electrolyte, has raised $35 million in series D funding round led by ABB Technology Ventures, NanoDimension Capital and Volta Energy Technologies.

Return backers Chevron Technology Ventures, Khosla Ventures, and Prelude Ventures also participated. Fluxus Ventures has also invested in the company, which has received more than $50 million in venture funding and more than $5 million in Advanced Research Projects Agency–Energy (ARPA-E) and US Department of Energy funding.

Natron Energy is the former Alveo, which was founded in 2012, based on work within the Huggins Group by co-founder Dr. Colin Wessells at Stanford University. Although Prussian blue provides modest energy density, the startup claims it is so earth-available and inexpensive that it could provide a cost-effective and sustainable answer for stationary energy storage.

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US sodium-ion battery developer raises $35M as storage investment surges

Natron Energy, a California-based startup developing a battery using Prussian blue analogue electrodes and a sodium-ion electrolyte, has raised $35 million in series D funding round led by ABB Technology Ventures, NanoDimension Capital and Volta Energy Technologies. Return backers Chevron Technology Ventures, Khosla Ventures, and Prelude Ventures also participated.

AI companies from Forbes' 2020 list: Drug discovery startup Atomwise and stroke risk predictor Viz.ai are among a group of seven healthcare companies

#healthtech #startups #ai #artificialintelligence #forbeslist

For its second annual AI 50: America's Most Promising Artificial Intelligence Companies 2020 list, Forbes partnered with venture firms Sequoia Capital and Meritech Capital to analyze private AI companies in the U.S.

Forbes received about 400 applications, which companies used to provide details on their technology, business model, customers and financials. Sequoia Capital and Meritech Capital then used an algorithm to pinpoint the 100 with the highest quantitative scores and a panel of eight AI judges chose the 50 "most compelling" companies, according to the report.

Below are seven from the healthcare industry:

1. Atomwise

2. Biofourmis

3. Genesis Therapeutics

4. Karius

5. Recursion

6. twoXAR

7. Viz.ai

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7 of healthcare's most promising AI companies from Forbes' 2020 list: Drug discovery startup Atomwise and stroke risk predictor Viz.ai are among a group of seven healthcare companies recognized by Forbes for their artificial intelligence capabilities.

Drug discovery startup Atomwise and stroke risk predictor Viz.ai are among a group of seven healthcare companies recognized by for their artificial intelligence capabilities. For its second annual AI 50: America's Most Promising Artificial Intelligence Companies 2020 list, Forbes partnered with venture firms Sequoia Capital and Meritech Capital to analyze private AI companies in the U.S.

IIT Hyderabad Collaborates With NVIDIA To Establish AI Research Centre

#IIT #hyderabad #AI #artificialintelligence

On Thursday, NVIDIA in association with Indian Institute of Technology, Hyderabad unveiled a technology centre — NVIDIA AI Technology Centre (NVAITC) — to accelerate research and commercial adoption in artificial intelligence. Although the research centre can be used for a wide range of AI research, it will primarily focus on advancing technologies in agriculture, smart cities, and language understanding.

“As an #IIT with a strong fundamental and technological research focus, the Indian Institute of Technology Hyderabad is very happy to join NVIDIA’s NVAITC program. This combination of NVIDIA’s leading-edge technology for #AI Compute and some of the finest minds in the country from #IIT Hyderabad will bring synergy to help find solutions to uniquely Indian challenges, be it enhancing crop yield or safer cities. This will build on the strong AI capabilities IIT Hyderabad has built, including the country’s first B.Tech in #AI program,” said Prof. B.S. Murty, IIT Hyderabad Director.

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IIT Hyderabad Collaborates With NVIDIA To Establish AI Research Centre

On Thursday, NVIDIA in association with IIT Hyderabad unveiled a technology centre - NVIDIA AI Technology Centre (NVAITC) - to accelerate research and commercial adoption in artificial intelligence. Although the research centre can be used for a wide range of AI research, it will primarily focus on advancing technologies in agriculture, smart cities, and language understanding.

Why Computer Vision DevCon Comes At The Right Time - Analytics India Magazine

#computervision #webconference

The Association of Data Science (ADaSci) recently announced Computer Vision DEVCON or CVDC 2020, a two-day virtual conference that aims to bring computer vision practitioners and innovators on a single platform to share and discuss recent developments in the field.

Scheduled for 13 and 14 August 2020, the conference comes at a time when computer vision has become one of the most advancing technologies in the world. From being used to differentiate between typed and handwritten text to making self-driving cars, it has come a long way. Reports suggest that by 2022, the computer vision market is expected to reach a $48.6 billion mark. There is no denying that the era of computer vision has begun and is here to stay.

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Why Computer Vision DevCon Comes At The Right Time - Analytics India Magazine

The Association of Data Science (ADaSci) recently announced Computer Vision DEVCON or CVDC 2020, a two-day virtual conference that aims to bring computer vision practitioners and innovators on a single platform to share and discuss recent developments in the field. Scheduled for 13 and 14 August 2020, the conference comes at a time when computer...

Over 15 Miliion Indians Use WhatsApp Business App Every Month

#business #India #whatsapp #marketing

WhatsApp on Thursday said it has over 50 million users of its business app globally, of which more than 15 million are in India. The Facebook-owned company, which had launched WhatsApp Business in 2018 to facilitate communication between businesses and customers, is also introducing new features like QR codes and catalog sharing to help companies get discovered.

"As businesses across the world prepare to reopen and expand online, people need simple ways to get in touch with them to ask questions, get information, or find something they might like to buy. Today we support more than 50 million WhatsApp Business app users," WhatsApp said in a statement.

It will offer QR codes to businesses globally. Previously when people came across an interesting business, they had to add its WhatsApp number to their contacts, one number at a time. Now, people can scan the QR code a business displays on its storefront, product packaging, or receipt to initiate a chat.

"Scanning a QR code will open a chat with an optional pre-populated message created by the business to start the conversation. With the app's messaging tools, businesses can quickly send information such as their catalog to get the conversation going," it said.

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Over 15 Miliion Indians Use WhatsApp Business App Every Month

WhatsApp's catalogs offering allow businesses to showcase and share the goods or services they offer, which can help them close sales. WhatsApp on Thursday said it has over 50 million users of its business app globally, of which more than 15 million are in India.

Ampere Vehicles Eyes Electric Three-Wheeler Space With Bestway Agencies' Acquisition

#ev #electricvehicles #startups #mergersandacquisitions #acquisitions #electricmobility

Ampere Electric Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Limited, has acquired 74% stake in Noida-based electric three-wheeler company BESTWAY AGENCIES PRIVATE LIMITED for INR 7 Cr. The deal is subject to customary closing conditions, the companies have clarified.

Through this acquisition, Ampere Electric Vehicles will venture into the electric rickshaw segment to enforce a strong presence in both electric two and three wheelers. Moreover, the acquisition will also allow it to offer a complete product portfolio to its #B2B customers who have requirements for electric three wheelers as well for both people and cargo mobility.

Ampere was founded in 2008 by Hemalatha Annamalai. The company raised an undisclosed amount from Ratan Tata in 2015. It has so far raised $200 Mn funding and counts Tata, and Chairman Axilor Ventures Senapathy “Kris” Gopalakrishnan as its key investors. Mumbai-based engineering company Greaves Cotton had acquired the company in 2018.

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Ampere Vehicles Eyes Electric Three-Wheeler Space With Bestway Agencies' Acquisition

Ampere Vehicles will own 74% stake in Bestway Agencies Ampere is one of the first EV brands in India to sell its electric two-wheelers through ecommerce portals Electric two and three-wheelers will account for over 80% of passenger vehicles sold by 2030, report Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton, has acquired 74% stake in Noida-based electric three-wheeler company Bestway Agencies for INR 7 Cr.

Fisker Raises $50 Million Funding; Will Be Used For Development Of Ocean Electric SUV - carandbike

#startups #fundingalert #startupfunding #ev #electricvehicle #greenfleet #travel #sustainabilty #sustainabletransport

American electric car manufacturer, Fisker Inc., has announced raising a new $50 million Series C funding from Moore Strategic Ventures, LLC, the private investment vehicle of popular hedge fund manager Louis M. Bacon. The company says that the funds will be used to support the next phase of engineering work on the upcoming Fisker Ocean all-electric luxury SUV, which is slated to be launched in 2022. According to reports, Moore Strategic Ventures LLC has valued Fisker at more than $1.6 billion.

Additionally, Fisker Inc has also announced appointing Burkhard Huhnke as the Chief Technology Officer (CTO) of Fisker Inc. Huhnke served as the former Vice President of e-mobility at Volkswagen America and Vice President of Automotive at chip maker, Synopses. He will lead Fisker's R&D activities in Los Angeles as well as the newly established Fisker Innovation Lab in Silicon Valley.

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Fisker Raises $50 Million Funding; Will Be Used For Development Of Ocean Electric SUV - carandbike

View Photos The investment comes from Louis M. Bacon's Moore Strategic Ventures The funds will go into the development of the all-electric Fisker Ocean The Fisker Ocean electric SUV will also come to India American electric car manufacturer, Fisker Inc., has announced raising a new $50 million Series C funding from Moore Strategic Ventures, LLC, the private investment vehicle of popular hedge fund manager Louis M.

162 new charging stations for electric vehicles in Noida soon - ET EnergyWorld

#ev #electricvehicles #electricvehiclecharging #evchargingstation #evcharging #startups #noida

Over 160 charging stations for electric vehicles (EV) are set to come up soon in Noida, with the Noida Authority and the Energy Efficiency Services Limited (EESL) signing an agreement for it on Thursday, officials said. The move is aimed at promoting electric vehicles by installing public EV charging stations and developing related infrastructure here, they said.

Thirteen of those EVs have been commissioned while seven are yet to be functional. These EV chargers were installed at prominent places of Noida such as Ganga Shopping Complex (Sector 29), near the Electronic City Metro Station (Sector 63), opposite Shopprix Mall (Sector 61), near RTO office (Sector 33), Advant Chowk (Sector 142) and the main market of Sector 50, among others.

Noida Authority CEO Ritu Maheshwari on Thursday said developing a sustainable landscape with strong supporting EV infrastructure is the key to cultivating consumer confidence in electric vehicles and will significantly enhance consumer convenience as well.

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162 new charging stations for electric vehicles in Noida soon - ET EnergyWorld

This agreement builds upon a memorandum of understanding (MoU) signed between the EESL and the Noida Authority last year, which led to the installatio..

CBInsights: 5 Top Emerging Digital Twin Startups Impacting Industry 4.0

#digitaltwins #ai #ml #artificialintelligence #machinelearning #startups #industry4.0

Using StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, they looked at innovative digital twin application areas for Industry 4.0. For this research, they identified 169 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others.

MEIK LABS, Digital Construction Works, MetaTwin, Tunnelware, and Allvision IO develop 5 top solutions. Learn more in their Global Startup Heat Map!

5 Top Emerging Digital Twin Startups Impacting Industry 4.0

Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for Industry 4.0. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 5 promising digital twin startups.

CBDC: China is testing its digital currency on a new platform-with 500 million users

#centralbank #digitalcurrency #centralbankdigitalcurrency #cryptocurrency #cbdc

Chinese ride-hailing giant Didi Chuxing Technology Co. will test a pilot version of China’s digital currency, according to a company statement on Wednesday that announced a “strategic partnership” with the central bank’s Digital Currency Research Institute.

The People’s Bank of China (PBOC), the country’s central bank, has been researching a national digital currency known as Digital Currency Electronic Payment (DCEP) since 2014 and ramped up its efforts to roll it out last year.

The launch date and other specifics of the Didi project are not publicly known.

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China is testing its digital currency on a new platform-with 500 million users

It will be the largest rollout yet of the central bank's digital yuan.