MeraTractor protects ¥$500 million in pre-series A funding
phygital marketplace, a city-based MeraTractor startup that offers agricultural mechanization products, ¥Raised $50 million in pre-series A funding, with total capital raised ¥7.25 Kroner Post Round. The startup aims to be a new-age manufacturer that helps dealers (Tier 3 to Tier 6 rural entrepreneurs) sell agricultural mechanization products to smallholder and marginal farmers. The newly raised funds will be used to increase the presence of our dealer network and strengthen our technology to organize our supply channels.
The funding round was led by Vibhor Sahare, CEO and co-founder of ANS Commerce and former CEO and co-founder of Gaadi.com, Real Time Angel Fund and Digital Futuristic Angels Network. Some of the leading investors who participated in the funding round were Adani Capital CEO Gaurav Gupta. Shashank Kumar, co-founder of Dehaat. Amrendra Singh, co-founder Dehaat, Avinash Kumar, founder Credenc. Arvind Kumar, Business Head of Agri Division at Force Motors and former CEO of Trringo (an M&M group company) and his Lemkin India said:
Sajith Abraham, co-founder of MeraTractor, said: However, agricultural mechanization of Indian farmers, of which more than 85% are smallholders, has been largely overlooked due to their ability to purchase. Challenges arise that start with and become difficult for unpretentious farmers. As a solution, MeraTractor looks to bridge the gap between smallholder farmers and access to agricultural mechanization/financial products. ”
Monak Gohel, co-founder of MeraTractor, said: We are therefore excited about the funding as it will help accelerate our journey to further grow our network by leveraging the large local business opportunities ahead. ”
LG Electronics India invested ¥2 billion rupees for local manufacturing facility
Pune: LG Electronics India has launched a local manufacturing line for ‘side-by-side’ refrigerators at its Ranjangaon manufacturing facility.with an investment of approx. ¥Equipped with advanced technology and machinery, the 200 million new facility will manufacture side-by-side refrigerators in addition to double-door and single-door refrigerators. The on-site facility is spread over 52.8 acres and has an annual production capacity of 200,000 units side-by-side. The Pune facility also manufactures televisions, washing machines, air conditioners and monitors.
Hong Ju Jeon- MD, LG Electronics India said: We also plan to export from this facility. ”
FITTR Appoints Tanvi Maruhara as Brand Ambassador
PUNE: FITTR, a tech-powered, community-first health and fitness platform, has announced the appointment of TV actor and model Thanvi Malhalla as its brand ambassador. Through this initiative, FITTR’s agenda is to emphasize community, accountability and the creation of groups of like-minded people to help them live better lives and inspire others to do the same. . Tanvi said:
Badve Engineering rebrands as Belrise Industries
PUNE: Automotive systems and components manufacturer Badve Engineering Ltd has announced that it has rebranded itself to Belrise Industries. Managing Director Shrikant Badve said: The company name Bellrise is a coined word that combines the strength of our tradition with our dreams for the future. “Bel” is an ode to the past, representing Badve Engineering Limited (BEL), and “Rise” represents the growth of all stakeholders and our joint commitment to meet the challenges of the future. ”
Executive Director Supriya Badve said: With the evolution of EV, Badve Group aims to offer products to the entire product ecosystem of EV Value her chain. ”
riidl Somaiya Vidyavihar Hosts Demo Day
Pune: Research Innovation Incubation Design Laboratory (riidl) Somaiya Vidyavihar has been selected by ‘Startup India’ as one of the incubators in Maharashtra to participate in National Startup at a demo day event where over 20 selected startups pitch directly to investors. We celebrated the Day. A networking event for over 200 startups was also organized by riddl.
As one of the incubators selected to mark the day, over 200 startups, over 50 investors, over 20 dignitaries and over 20 incubators attended the Somaiya Vidyavihar campus to celebrate the occasion. bottom. riidl Somaiya Vidyavihar will also host the 8th edition of ‘Maker Mela’, facilitating over 100 participating makers to bring their ideas to market.
Gaurang Shetty, Chief Innovation Catalyst at riidl Somaiya Vidyavihar, said:
Bank of Mauritius Memorandum of Understanding on NIBM Ink Banking Solution
The National Institute of Banking Management (NIBM) of the Republic of Mauritius and the Bank of Mauritius of Port Louis signed a Memorandum of Understanding (MoU) on January 19th. Partha Ray, Director, NIBM. Through the MoU, NIBM and the Bank of Mauritius have partnered to provide credit, risk and stressed asset management, default asset management, international banking, compliance, leadership, information technology, analytics, human resources and more. field. This paves the way for joint projects and research on common areas of interest that will benefit the banking industry.
