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‘Indian Highway Network Will Be Even Better Than US Within 2 Years’: Nitin Gadkari
- Indian Minister for Road Transport & Highways, Nitin Gadkari, stated that the Indian road network will be better than the US within the next two years.
- He mentioned that India would surpass the US in electric vehicle adoption and manufacturing within the next five years.
- The distance between cities like Delhi, Dehradun, Jaipur, and Bengaluru will significantly reduce.
- Gadkari expressed his commitment to reducing logistics costs and making India competitive worldwide.
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Startup Pedia
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India’s First Indigenously Built MRI Scanner To Be Installed At AIIMS-Delhi For Clinical Trials By Oct
- India's first indigenously built MRI scanner is set to be installed at AIIMS-Delhi by October for clinical trials.
- The machine is expected to reduce MRI costs for patients by about 50%.
- AIIMS-Delhi will provide feedback to improve the MRI machine to meet global standards.
- The development is a major step towards reducing dependence on imported medical equipment in India.
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Eu-Startups
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Sateliot’s space leap: €70 million to connect the planet with 5G-IoT from orbit
- Barcelona-based SpaceTech company Sateliot has closed its Series B round at €70 million to deploy a constellation of more than 100 satellites to provide global connectivity services.
- Sateliot aims to become the first 5G-IoT telecommunications operator from space, delivering NB-IoT connectivity to extend mobile telecom coverage to 100% of the planet.
- The investment will be used to provide global connectivity services, especially in remote areas, for defense, cybersecurity, telecommunications, logistics, mining, energy, environment, agriculture, and critical infrastructures.
- Sateliot has already launched six satellites and has contracts worth €270 million with over 400 customers in 50 countries, with a goal of achieving a turnover of €1 billion by 2030.
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Yourstory
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Fintech firm Findi raises Rs 243 Cr from institutional investors
- Fintech company Findi Ltd has raised Rs 243 crore in funding through an institutional placement and share purchase plan.
- The funds will be used to enhance the technological capabilities of Transaction Solutions International India, scale merchant payment solutions, and deploy ATM and payment processing infrastructure in key Indian markets.
- The fundraising witnessed strong participation from institutional investors, reflecting confidence in Findi's strategic vision and growth potential.
- TSI, under Findi's majority ownership, plans to expand its operations and collaborations with banks and financial institutions to further financial inclusion.
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Yourstory
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Exploring Rumi's Insight: How Action Reveals Our Path
- Taking action is vital in overcoming inertia and initiating progress and clarity.
- Engaging in the journey of life leads to self-discovery and personal growth.
- Embracing uncertainty and being open to new experiences allows for greater learning and discovery.
- This quote emphasizes the practicality of taking actionable steps while also acknowledging the need for balance and ethical considerations.
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ISN
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India's GreenFortune raises $4.5 million led by Germany-based Foundamental, others
- Hyderabad-based fenestration startup GreenFortune has raised $4.5 million (approximately Rs 39 crore) in a funding round led by Germany-based Foundamental, with participation from Titan Capital Winners Fund, Incubate Fund Asia, and other existing investors.
- The startup plans to use the investment to expand nationally, increase production volume, and develop its proprietary tech platform, PartnerGate, into a full-stack solution to improve customer service.
- GreenFortune aims to modernize India's windows and doors market by providing high-quality, climate-adaptive, and affordable fenestration solutions. It operates in over 100 locations and has supplied materials for more than two million square feet of windows and doors.
- The real estate and construction sector in India presents a $15 billion opportunity in facades and joineries. GreenFortune aims to disrupt this space through innovation, transparency, and a customer-first approach.
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Inc42
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Govt Drops Import Duty On Key Components For EV Batteries
- The Indian government removed import duties on goods and raw materials used in manufacturing EV batteries and mobile phones.
- The move aims to boost domestic production and enhance export competitiveness.
- India and the US are in negotiations to address tariff concerns and work towards a bilateral trade agreement.
- The government is open to cutting tariffs on more than half of US imports worth $23 billion in the first phase of a trade deal.
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Yourstory
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New Era in Indian Aviation: 3 Innovative Airlines to Launch
- India's aviation landscape is set for a transformative shift with the introduction of Air Kerala, Shankh Air, and Alhind Air in 2025.
- Shankh Air, Uttar Pradesh's first full-service airline, plans to connect key cities and aims to expand to international routes by 2027.
- Air Kerala, India's first ultra-low-cost carrier, focuses on linking Kerala's smaller cities to major hubs and intends to launch domestic flights in 2025.
- Alhind Air, emerging from the Alhind Group, plans to start as a regional commuter airline and target Gulf countries, with an aim to expand internationally within two years.
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Eu-Startups
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An Eiffel Tower a day: GravitHy secures €60 million to power green steel revolution
- Marseille-based GravitHy, a low-carbon iron producer, has secured €60 million in funding to power the green steel revolution.
- The funding will be used to finance the company's action plan, target a final investment decision in 2026, and accelerate growth.
- New investors in the funding round include Japan Hydrogen Fund, Marcegaglia, Ecolab, Rio Tinto, and Siemens.
- GravitHy plans to play a critical role in decarbonizing the steel industry with its low-carbon iron production.
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Inc42
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Groww Seeks $200 Mn In Pre-IPO Funding Round: Report
- Investment tech unicorn Groww is in advanced talks with GIC and Tiger Global for a $200 Mn pre-IPO funding round.
- The funding could value Groww at around $6.5 Bn.
- Groww is an online discount broking platform for stocks, ETFs, and IPOs.
- In FY24, Groww reported a net loss of INR 805 Cr and an operational profitability of INR 535 Cr.
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Inc42
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Nazara Offloads Entire 72% Stake In Sports Unity
- Nazara has divested its entire 71.54% stake in Sports Unity for INR 7.15 Lakh.
- Sports Unity is no longer a subsidiary of Nazara Technologies since March 25.
- Nazara has been on an expansion spree, acquiring gaming studios and real-money gaming platforms.
- In Q3 FY25, Nazara reported its highest-ever quarterly operating revenue at INR 544.7 Cr.
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Yourstory
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FirstCry to invest Rs 146 Cr in subsidiary GlobalBees for international expansion
- FirstCry, led by Supam Maheshwari, plans to invest Rs 146 crore in its subsidiary GlobalBees Brands for international expansion.
- The investment will be made in tranches over the next 12 months.
- FirstCry will invest Rs 20.98 crore in the next month, with a portion allocated for establishing stores and warehouses.
- GlobalBees Brands reported a 35% improvement in turnover, reaching Rs 1,209.35 crore in FY23-24.
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SiliconCanals
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Austrian firm Boxbase secures six-figure funding to power up CrossFit gym management
- Vienna-based Boxbase, a gym management software for CrossFit boxes, has secured a six-figure pre-seed funding round led by Johannes Moser, co-founder of Immerok.
- Boxbase plans to use the funds to accelerate product development, expand the feature set, and broaden its reach to empower CrossFit gym owners worldwide.
- Boxbase is a next-generation gym management platform developed specifically for CrossFit gyms, offering features like flexible class scheduling, comprehensive workout builders, team management, and seamless payment processing.
- The company's vision extends to become the leading boutique gym operating system, catering to a broader functional fitness market and empowering gym owners to build successful businesses and thriving communities.
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Inc42
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Over 7 Lakh SIMs, 83K WhatsApp Accounts Blocked Till February: Govt
- The Indian government has blocked over 7.81 lakh SIM cards and more than 2.08 lakh IMEIs till February 2024 to combat digital frauds and cybercrimes.
- The Indian Cybercrime Coordination Centre (I4C) has identified and blocked over 3,962 Skype IDs and 83,668 WhatsApp accounts used for digital arrests.
- The government and Telecom Service Providers (TSPs) have established a system to block incoming international spoofed calls displaying Indian mobile numbers.
- Indian citizens lost INR 1,935.51 crore to digital arrest scams in 2024.
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Eu-Startups
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Malta’s Prime Minister, Robert Abela, will open this year’s EU-Startups Summit!
- Malta’s Prime Minister, Robert Abela, will open this year’s EU-Startups Summit in Valletta, setting the stage for two days of innovation, networking, and thought-provoking discussions.
- Dr. Abela has played a pivotal role in shaping Malta’s economic and business landscape, championing policies that strengthen Malta’s position as a competitive business hub.
- Under his leadership, the country has maintained record-low unemployment rates, enhanced its startup ecosystem, and implemented governance reforms that reinforce transparency and economic stability.
- Dr. Abela's opening remarks will highlight Malta’s growing role as a gateway for startups looking to scale in Europe and beyond.
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