From why Prosus is betting on AI startups in India to IFC’s investment to boost India’s e-bus fleet, YourStory brings you stories that highlight significant developments across industries.
Featured news
Why Prosus is betting on AI startups in India to broaden its portfolio
At a time when foreign investors are looking away from India to back ambitious AI bets elsewhere, Dutch investment company Prosus is taking baby steps to invest in homegrown startups that are leveraging AI.
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Funding news
IFC to invest $137M to boost India’s e-bus fleet; partners with JBM Group, GreenCell Mobility
International Finance Corporation on Thursday said it will provide $137 million in financing to electric bus makers JBM ECOLIFE, part of JBM Auto, and GreenCell Mobility.
According to the company, it will provide $100 million to JBM ECOLIFE and $37 million in mezzanine capital—a combination of equity and debt financing—to Eversource Capital-backed GreenCell.
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Unico Housing Finance raises Rs 120 Cr from Anicut Capital, UC Impower to fuel expansion
Chennai-based Unico Housing Finance Pvt. Ltd has raised Rs 120 crore from Anicut Capital and UC Impower to expand its footprint in India’s affordable housing finance market, which is seeing strong demand from first-time home buyers in smaller towns.
The funding, an equity infusion, will boost the lender’s net worth beyond Rs 210 crore and help scale its operations across underserved Tier II and III cities, the company said in a statement.
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blackNgreen invests Rs 40 Cr in AI product
Telecom solutions provider blackNgreen on Friday said it has invested Rs 40 crore into its new voice-first AI product, EVA.
The product can operate in over 95 languages and can adapt in real time across diverse enterprise platforms. It can equip customer care requirements, can provide daily help and specialised information with a phone call, act as an assistance, provide virtual receptionist services, and also perform AI-driven sales partners functions.
Homemade pickle brand FarmDidi raises Rs 7 Cr in seed funding
Direct-to-consumer brand FarmDidi on Friday said it has raised Rs 7 crore in a seed round led by Samved Ventures.
The round also saw participation from LetsVenture, Indigram Labs, IIM Calcutta Innovation Park, and angel investors from IIM Calcutta and Symbiosis.
The funding will be used to strengthen the company’s team, invest in R&D, improve technology-led quality control systems, and expand its community of Didis (rural women entrepreneurs) from 2,000 to over 5,000 in the coming years.
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Team FarmDidi
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Other news
C-CAMP-GoK Agri Centre of Excellence signs MoU with Bayer
The K-Tech Centre of Excellence for Agri Innovation (Agri CoE) of C-CAMP on Friday said it has signed a memorandum of understanding with Bayer Science and Innovation Private Ltd.
The primary objectives of the MoU include startup identification, mentorship and handholding support, deployments or pilots with Bayer’s R&D facilities, market access support and co-development partnerships for mutually selected technologies.
The MoU also lays down a framework to explore potential investment or commercial partnerships, such as licenses or technology transfers, to enable and facilitate the idea-to-product journey of emerging agricultural technologies.
Edited by Jyoti Narayan
