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Inside the green jobs market; ElasticRun’s growth plan for FY25
- Food delivery giant, Swiggy, is said to have revised its IPO valuation by 25% to $11.3bn due to market volatility and the poor debut of Hyundai in India. BlackRock and Canada Pension Plan Investment Board will invest in the $1.4 billion IPO set to be the second-biggest stock offering in India this year. Whilst India’s foreign fund outflows recently reached record highs at $10.2bn due to elevated equity prices, the gap between demand and the availability of green talent is rapidly growing. By 2050 twice as many jobs will require green skills than there will be qualified candidates.
- Green jobs are roles that contribute to environmental sustainability such as water, e-waste and hydrogen management, renewable energy, green building and electric vehicles. Indian B2B logistics company ElasticRun, backed by Prosus and SoftBank, aims to boost its quick commerce business to shore up its revenue. The Pune-based firm recently pared losses by nearly 42% to Rs 354.62 crore as it pivoted to high-margin regional brands.
- The demand for green talent is leading to greater interest in upskilling courses that combine digital competencies like AI, data analytics, and project management.
- Swiggy’s IPO will be $11.3 billion, 25% below the initial goal of $15 billion, with BlackRock and Canada Pension Plan as investors. Google is developing AI to take over a web browser to complete tasks, and will demonstrate it with the release of Gemini LLM in Dec.
- ElasticRun revealed its new growth plan for FY25 and will focus on scaling regional brands, boosting revenue and monetising its SaaS offering for delivery. Apple received just $250 in its lawsuit against Masimo smartwatches infringing its patents. Taiwan Semiconductor suspended shipments to Chinese chip designer Sophgo after a chip it made was found on a Huawei process.
- Indian bourses entered the bear market amid weak global cues and rising volatility. The NSE Nifty 50 fell 2.7% last week and the BSE Sensex dropped 2.2%, logging losses for the fourth week. The Telangana Department launched the Green Skills Academy in Hyderabad in partnership with 1M1B (One Million for One Billion). Mammoth Cave in Mammoth Cave National Park in central Kentucky is the world's longest cave system.
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