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Xiaomi to set up 3 plants to boost local production Xiaomi India Head and Global Vice President Manu Jain. (Mint) Share Via Read Full Story Chinese smartphone maker Xiaomi will open two new mobile manufacturing plants and a television plant in India. In an interview, Manu Jain, Xiaomi’s India head and global vice president, said 99% of its smartphones and 100% of its televisions sold in India will now be manufactured in the country. “We would love to see India as an export hub. We started exporting in small quantities last year to nearby countries such as Bangladesh and Nepal. Right now, the No. 1 priority for the Indian business is to meet local demand, which we believe is significantly more than what we are supplying. Once we meet 100% of the local demand, we will start thinking of further increasing our exports, he said. ....
Pravin Jadhav’s startup Raise Financial raises fund from Mirae, unicorn founders The company will utilise a large portion of this investment in setting up its teams, technology and infrastructure to launch its first product in this calendar year. Photo: Mint 1 min read Share Via Read Full Story Bengaluru: Former Paytm Money chief executive, Pravin Jadhav’s new startup Raise Financial has raised a seed round from Mirae Asset Venture Investments, as well as from a group of prominent unicorn founders and chief executives. CRED founder Kunal Shah; Flipkart chief executive Kalyan Krishnamoorthy; PhonePe founders Sameer Nigam and Rahul Chari; Udaan founders Amod Malviya and Sujeet Kumar; Freecharge co-founder Sandeep Tandon, Pine Labs chief executive Amrish Rau; Jupiter Money founder Jitendra Gupta, Freshworks’ Gireesh Mathrubootham are some of the prominent names which have participated as a part of this round. ....
Infra.Market plans to spend the new funds to enhance its technological offerings, seed newer markets and advance initiatives such as private label brands, direct to retail channel and exports ....
PM to visit Tamil Nadu, Puducherry tomorrow Premium Share Via Read Full Story Prime Minister Narendra Modi will visit Tamil Nadu and Puducherry on February 25. He will inaugurate and lay the foundation stone of various development initiatives in Puducherry and lay the foundation stone of multiple infrastructure projects worth over ₹12400 crores in Coimbatore. A PMO release said Prime Minister will dedicate to the nation the Neyveli New Thermal Power Project. TRENDING STORIESSee All 1 min read Premium 2 min read 1 min read Premium 1 min read . 11:59 AM IST The plant has been designed for 100 per cent ash utilization. The power generated would benefit Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana and Puducherry, with Tamil Nadu having a major share of about 65 per cent. ....
Fintech players get $2.7 billion from VC funds in 2020: Report Payments remained the hottest area of investment, followed by tech-driven insurance firms and tech-driven wealth managers, the report said.Premium 1 min read . Updated: 25 Feb 2021, 03:27 PM IST PTI The biggest investments were into Bengaluru-based payments firm Navi Technologies at $397.9 million from angel funds, Noida-based Pine Labs attracted $300 million from private equity players, and Razorpay received $100 million from GIC of Singapore, Sequoia and others, making it a unicorn Share Via Read Full Story MUMBAI : Despite the pandemic-induced disruptions, venture capital funds pumped $2.7 billion into domestic fintech companies in 2020, the second-highest fund infusion into the sector since 2019 when it had peaked at $3.5 billion, according to a report. ....