Groww raises $21.4mn from Ribbit Capital, Sequoia India, and Y Combinator

A Bengaluru-based investing platform, Groww has raised $21.4 million in series B round funding from U.S. based Venture Capital firm Ribbit Capital, and others.The new round funding led by Ribbit Capital also saw the participation of some of its existing investors like Sequoia India and Y Combinator.“Grow, which offers direct mutual funds on its platform has more than 2.5 million registered users on its

Maruti Suzuki India marks one million export from Mundra port

India's largest Automaker giant Maruti Suzuki India (MSI) has crossed One million export marks from Mundra port in Gujarat after commencing its international dispatches a year ago, the company in its statement said.In a statement issued by the MSI, Managing Director and CEO, Kenichi Ayukawa, said: “With the decade of commencement of exports from Mundra, we have achieved the significant milestone of

InstaReM starts digital money transfer service in Canada

Solidifying the company’s presence in North America. Singapore -based cross-border digital payment company, InstaReM has announced the launch of cost-effective digital cross-border payments transfer service in Canada, and has also registered as a Money Service Business with the Financial Transactions and Reports Analysis Center of Canda (FINTRAC) to remit and transfer funds out of Canada.InstaReM, in its

Nirmala Sitharaman announces ban on e-cigarettes

The Union Cabinet has proposed the ordinance for the complete ban on the sales and manufacturing of e-cigarettes inside the country.Speaking to the press, Finance Minister Nirmala Sitharaman said, “Considering the seriousness of the impact, that e-cigarettes are having on the youth today. The Union Cabinet has passed the ordinance to ban the manufacture and sales of e-cigarettes.”“The ban includes the

M&M incorporates MBPL of Bangladesh as a wholly-owned subsidiary

India’s largest automaker company, Mahindra and Mahindra has incorporated ‘Mahindra Bangladesh Private Limited (MBPL)’ as its wholly-owned subsidiary.In a filing at the BSE, the Mahindra and Mahindra said that “the company has incorporated Mahindra Bangladesh Private Limited (MBPL) in Dhaka, Bangladesh under the Companies Act (Act XVIII) of 1994.”The company added, “This move will allow the company to carry

Mindtree introduces Blockchain-powered ‘Merchant On-Boarding’ solutions for Banks and Payment service providers

A Banglore-based technology service provider, Mindtree on Wednesday launched its new Blockchain-powered “Merchant On-Boarding” solutions for banks and payment service providers.In a statement issued by the company, the Mindtree, said: “It new “Merchant on-Boarding” service, uses Hyperledger Fabric Blockchain technology, which will allow the financial institutions to facilitate credit card or digital payments

Harsh Vardhan: “India to generate 175 GW of clean energy”

The Union Minister for Science and Technology, in Government on India, Harsh Vardhan on Monday said, “The Government of India is planning to generate 175 GW of clean energy by 2022.”Speaking at the inauguration, of the National Interdisciplinary Center and the National Clean Coal Research, and Development Center at the Indian Institute of Science, the Minister, said: “We are making good progress. We are leading

Kedaara Capital to infuse $55 million in retail eye-wear company Lenskart

Lenskart, an India-based eye-wear retail company, will be is raising Rs 392 crore (approx. $55 million) from private equity firm Kedaara Capital, a newspaper reported.Quoting to the source documents from Tofler, the Times of India, on Monday, reported: “Lenskart, is issuing more than 60 lakh compulsorily convertible-cumulative-preference shares to Kedaar’s two entities at the share price of Rs 638 per share.”

Pininfarina partners with Bosch and BENTELER to develop a high-performance vehicle ‘EV’ platform.

Automobili Pininfarina, an Italian automaker, has announced the strategic partnership with Bosh Engineering GmbH and BENTELER.Speaking at the press conference, ahead of Frankfurt International Auto show, Automobili Pininfarina, said: “Our strategic partnership, will allow us to develop a high-performance electric vehicle (EV) platform jointly.”“As well as the market potential for the platform that will

Ola expands its bike services to 150 Indian cities

Online cab aggregator company and one of Uber’s biggest rival in India, Ola Cabs has announced the expansion of its Ola Bike offering to 150 cities across the country.In a statement issued on 12th Sept, the company, said, “The offering of Ola Bike services in 150 cities across the country, will increase its position as India’s largest player in the micro-mobility space.”Further adding to the statement, Ola,