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Funding News
TechSpark
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299
Silicon Gorge Profiles: Introducing FerryX
- FerryX is a startup focusing on developing next-generation probiotics to support gut health, specifically targeting chronic gut conditions like irritable bowel syndrome (IBS). They aim to provide relief where conventional products fail.
- The unique solution offered by FerryX, named Ferrocalm, can remain active during gut inflammation, a capability most probiotics lack. This product has received positive feedback and life-changing reviews from customers.
- FerryX is proud of the significant improvement in quality of life for consumers using Ferrocalm, with 76% experiencing better IBS symptoms within 8 weeks. They are currently seeking £1.5m investment to expand the brand and enhance profitability.
- The startup acknowledges the support received from various entities in the Bristol and South-West ecosystem, such as the University of Bristol, SETsquared, Future Space, Tech South West, and Deepbridge Capital. More information about FerryX can be found on their website and social media platforms.
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Bloomberg Quint
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324
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Shell Says Weak Oil And Gas Trade Hit Second Quarter Profit
- Shell Plc reported that its second-quarter results will be negatively impacted by weaker contributions from its oil and gas trading operation.
- The company's trading and optimization contributions for the second quarter are expected to be 'significantly lower' compared to the first quarter.
- Shell's shares fell following the update, with its in-house trading business being a major profit booster for the company.
- Despite challenges in trading, Shell has focused on cost-cutting and asset optimization to enhance shareholder returns and maintain competitiveness.
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Bloomberg Quint
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299
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P N Gadgil Jewellers Q1 Update: Retail-Business Revenue Rises 19%
- P N Gadgil Jewellers reported a 19% increase in retail business revenue for the April-June period of the current fiscal year, with total revenue growing by 30% to Rs 1,713.7 crore compared to the same period last year.
- Revenue from e-commerce surged by 126% year-on-year but accounted for only 3.9% of the total revenue, while franchisee operations saw a 109% increase but contributed 15.7% to the total revenue.
- The share of studded jewellery in retail sales rose by 42%, reaching 10% and emphasizing the rising popularity of stud-based Jewellery.
- PNG Jewellers plan to expand with the opening of 7 to 9 new stores next quarter and target a total of 20-25 new stores in the financial year, focusing on expansion in Madhya Pradesh and Uttar Pradesh.
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Bloomberg Quint
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318
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Akasa Air Partners With GMR Aero Technic For Base Maintenance Of Boeing 737 MAX Planes
- Akasa Air has partnered with GMR Aero Technic for base maintenance and support for its Boeing 737 MAX fleet through a three-year agreement.
- GMR Aero Technic will conduct scheduled base maintenance checks for Akasa Air's 30 Boeing 737 MAX planes at its Maintenance, Repair, and Overhaul facility in Hyderabad.
- Akasa Air, operating since August 2022, serves 23 domestic and 5 international cities and has ordered 226 Boeing 737 MAX planes with LEAP-1B engines.
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Bloomberg Quint
1w
239
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Zelenskiy Spoke With Trump About Replacing Ukraine’s Envoy To US
- Ukrainian President Zelenskiy discussed the possibility of replacing the current ambassador to the US with President Trump.
- Possible candidates for the new ambassador include Prime Minister Denys Shmyhal, Deputy Prime Minister Olha Stefanishyna, Defense Minister Rustem Umerov, and Energy Minister German Galushchenko.
- The replacement of the current envoy Oksana Markarova comes amid strained relations between Ukraine and the US after the Trump administration halted military assistance to Ukraine.
- Zelenskiy has instructed his Foreign Ministry to engage in discussions with the US side regarding the appointment of the next Ukrainian ambassador.
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Bloomberg Quint
1w
422
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Glen Industries Fixes Issue Price Band At Rs 92-97 Per Share
- Glen Industries has fixed a price band at Rs 92-97 per share for its Rs 63.02 crore initial share sale that will open for public subscription on July 8.
- The public issue is entirely a fresh issue of up to 64.97 lakh equity shares, with proceeds intended for setting up a new manufacturing facility and general corporate purposes.
- Glen Industries, established in 2007, specializes in manufacturing eco-friendly food packaging products such as thin-wall food containers and compostable straws, exporting to various countries.
- GYR Capital Advisors is the sole book-running lead manager for the IPO, with Kfin Technologies as the registrar. The company reported a revenue of Rs 170.66 crore and profit after tax of Rs 18.27 crore in FY25.
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Eu-Startups
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29
Paris-based investment club Keenest invests more than €5 million in the sustainable economy
- Keenest, a French climate-focused investment club, has invested over €5 million in impact startups to accelerate the transition to a carbon-free economy.
- The platform, started in 2023, has grown to 3,500 members with the goal to involve individuals in financing the sustainable economy.
- Investment projects are accessible from €500, with a focus on startups contributing to the ecological transition and offering climate dividends based on CO₂ avoidance.
- Keenest aims for an average annual return of 20%, plans to raise €10 million by March 2026, and to finance 20 impact projects while launching a diversified fund by 2026.
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Bloomberg Quint
1w
393
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Trump Sets Aug 1 Start For Tariffs Ahead Of Wednesday Deadline
- President Donald Trump plans to announce trade deals and deliver tariff warnings on Monday, with the deadline for tariffs set for Aug. 1, giving trading partners until then to negotiate deals.
- The European Union and other countries are negotiating to secure deals before the Wednesday deadline, with the EU stating progress has been made. Trump is using tariffs as a tool to pursue economic gains and challenge geopolitical rivals.
- Tariff tensions have resurfaced, causing market fluctuations, including a 0.5% drop in S&P 500 futures and strength in the US dollar. Treasury Secretary Scott Bessent indicated that major trading partner agreements are expected to be announced.
- While the Trump administration claims multiple trade accords are close, only limited frameworks with the UK and truce with China have been announced. Negotiations with the EU and Japan continue over the US holiday weekend.
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Bloomberg Quint
1w
209
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Non-Life Insurers Post 5% Premium Growth In June, Shows Data
- Non-life insurers in India reported a 5.05% year-on-year growth in gross direct premium to Rs 19,916 crore in June, driven by growth in standalone health insurance premium.
- The largest general insurer, New India Assurance, saw a 10.6% YoY increase in premiums to Rs 3,328 crore, while the second largest player, ICICI Lombard General Insurance, experienced a 10.4% decline to Rs 1,987 crore.
- Among state-owned insurers, United India Insurance reported an 11.4% YoY rise, National Insurance saw a 26% growth, and Oriental Insurance's premiums rose 13.5% in June.
- Standalone health insurers also showed strong growth, with a 10.4% YoY increase in premiums in June, reaching Rs 3,340 crore. Niva Bupa Health Insurance logged a 15.5% growth to Rs 594 crore, and Star Health and Allied Insurance reported a 2.8% YoY growth to Rs 1,338 crore.
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SiliconCanals
1w
423
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Copenhagen’s GetWhy raises €17M to scale AI-powered consumer insights; eyes US expansion
- Copenhagen-based consumer research technology company, GetWhy, raises an additional €17M in funding led by PeakSpan Capital.
- The fund will be utilized to expand operations in the U.S. and strengthen the company's position in the global market.
- GetWhy's AI-driven consumer insights platform aims to revolutionize market research for enterprises, with a client list including Heineken, Nestlé, Coca-Cola, and Adidas.
- The company plans to open a U.S. office in 2025 to better serve its American customers and solidify its position as a market leader.
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Bloomberg Quint
1w
388
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How NRIs In UAE Avoid Taxes: Key Factors Indian Expats Must Know
- NRIs living in the UAE can benefit from the country’s zero-tax regime and India’s tax treaties to minimize their overall income tax burden.
- The UAE does not levy personal income tax on its residents, including foreign nationals, making incomes tax-free locally, with the added benefit of the India-UAE DTAA preventing double taxation.
- NRIs are taxable in India for income generated there, and recent amendments have tightened the criteria to retain NRI status, requiring spending fewer than 182 days in India during a financial year and compliance with FEMA guidelines.
- Some NRIs utilize capital gains exemptions and loopholes, like shifting tax residency to UAE to avoid capital gains taxes in India, and they leverage NRE and NRO accounts for managing foreign and Indian income, respectively.
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Bloomberg Quint
1w
85
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Gold Falls As Investors Eye US Tariff Moves And Dollar
- Gold fell as the dollar rose amid US tariff deadline pressure.
- President Trump's signal of an additional 10% levy boosted the dollar, causing gold to dip 1.1%.
- Although gold is up more than 25% this year, it fell 0.8% to $3,311.44 an ounce in London.
- Investors are eyeing US tariff moves and a stronger dollar's impact on gold prices.
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Bloomberg Quint
1w
59
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Apple Appeals ‘Unprecedented’ €500 Million EU App Store Fine
- Apple has appealed a €500 million fine from the EU, denouncing the penalty and regulatory requirements as 'unlawful.'
- The European Commission fined Apple in April under the Digital Markets Act for not complying with rules allowing developers to direct users to non-App Store purchases.
- Apple changed its EU App Store policies in June, introducing a tiered commission structure and allowing more freedom for out-of-app payment processing.
- The company claims the EU regulators' demands are confusing for both developers and users, with Apple facing ongoing legal challenges in various regions.
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SiliconCanals
1w
239
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Amsterdam’s AI startup Perry launches with €1.6M to help train and support Europe’s technical workers
- Amsterdam-based AI startup Perry has officially launched with a €1.6M investment round to address the shortage of technical workers in Europe.
- The funding was led by Berlin-based fund Revent and includes participation from angel investors experienced in companies like Google and OpenAI.
- Perry's platform provides AI-powered work instructions for technicians in sectors facing a decline in technical roles, such as renewable energy and construction.
- The startup's goal is to support technicians with dynamic instructions tailored to specific work environments and plans to expand further into Germany, France, and the UK.
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Eu-Startups
1w
60
Copenhagen-based GetWhy raises additional €17 million for their market research platform
- Copenhagen-based startup GetWhy secures an additional €17 million in funding to enhance their market research platform and expand their market leadership.
- The funding round, led by PeakSpan Capital and Arbejdernes Landsbank, boosts GetWhy's Series A financing to become one of Denmark's largest.
- GetWhy utilizes generative AI to revolutionize consumer insights, catering to global brands such as Heineken, Nestlé, and eBay.
- With plans to establish a U.S. office in 2025, GetWhy aims to become the standard for AI-driven consumer insights and transform the market research industry.
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