Monday, October 7, 2024
No menu items!
Home Blog Page 53

Sony Sports Network Secures Exclusive Rights for Major League Cricket in India

0

Culver Max Entertainment, the parent company of Sony Sports Network, a leading sports broadcaster in India, has announced its acquisition of exclusive television rights for the Major League Cricket (MLC) T20 spectacle in India for one year. The second season of MLC will commence with defending champions MI New York taking on Seattle Orcas in the opening match at Church Street Park, Morrisville. The match will be broadcast live in India on 6th July 2024. The tournament’s grand finale will be held at Grand Prairie Stadium in Texas, with live coverage in India scheduled for 29th July 2024.

MLC has played a pivotal role in the growing cricket fervor in the United States, capturing the attention of India’s avid cricket enthusiasts. The participation of renowned Indian franchises like Mumbai Indians, Kolkata Knight Riders, and Chennai Super Kings promises to elevate excitement among their respective fan bases. Star cricketers such as Quinton de Kock, Marcus Stoinis, and Nicholas Pooran are anticipated to showcase their skills in the upcoming season.

The second edition of MLC features a stellar lineup of commentators, including former Indian cricket team captain and batting legend Sunil Gavaskar, Pakistani bowling maestro Wasim Akram, former New Zealand cricketer Danny Morrison, alongside Daren Ganga, Pommie Mbangwa, Matthew Hayden, Chris Morris, Natalie Germanos, Scott Styris, and Mike Haysman.

Sony Sports Network’s cricket portfolio already includes broadcasting rights for New Zealand Cricket, England Cricket Board, Sri Lanka Cricket, and recently added the India Tour of Zimbabwe T20I series.

Saurabh Gaur Launches PerformAce, A Digital Marketing Venture

0

Saurabh Gaur, a seasoned expert in digital media sales and business development, has launched PerformAce, his latest venture aimed at revolutionizing digital marketing.

With over 16 years of experience, Saurabh’s career includes roles at ICICI Lombard, Games2win, Sify Technologies, and an 11-year tenure at Times Internet.

During his time at Times Internet, Saurabh excelled as national sales head and business head of HYPP, significantly boosting revenue and leading strategic expansions. He also founded the successful HYPP business unit, recognized for its exceptional performance.

Saurabh views PerformAce as the culmination of his dedication to excellence and visionary leadership in digital marketing services.

At PerformAce, Saurabh focuses on innovative strategies to ensure client success and exceed industry standards. His relentless pursuit of excellence positions PerformAce as a leader in the digital marketing landscape.

ADNOC Secures $3 Billion Green Financing Agreement with JBIC, Advances Sustainability Goals

0

Abu Dhabi National Oil Company (ADNOC) PJSC has finalized a $3 billion (AED11 billion) green financing agreement with the Japan Bank for International Cooperation (JBIC). This agreement builds upon their longstanding partnership and follows the earlier signing of a Heads of Agreement (HOA) this year.

The financing is part of JBIC’s GREEN (Global action for Reconciling Economic growth and ENvironmental preservation) program, supported by Japanese commercial banks. ADNOC’s Group Chief Financial Officer, Khaled Al Zaabi, emphasized its strategic importance in accelerating ADNOC’s decarbonization and energy transition efforts. This funding will play a crucial role in ADNOC’s strategy towards a global energy transition.

Al Zaabi highlighted the broader significance of the collaboration, stating it strengthens ADNOC’s financial position and commitment to sustainable development. This initiative aligns with ADNOC’s efforts to integrate environmental considerations into its business strategy while maintaining strong financial performance.

This agreement marks a milestone in the longstanding energy partnership between the UAE and Japan, promising further collaboration as ADNOC pursues its ambitious growth strategy. It positions ADNOC to lead in sustainable energy practices, contributing to global efforts for cleaner energy solutions and environmental preservation.

Reliance Retail Ventures Set to Introduce Shein to India’s Fashion Scene

0

Reliance Retail Ventures, under the leadership of Mukesh Ambani, is gearing up to introduce Shein, a prominent Chinese fast fashion brand, to the Indian market in the near future. Shein’s trendy apparel and accessories will be accessible through Reliance’s app and physical retail outlets across the country. The initiative marks another strategic move by Reliance Retail, known for its successful partnerships with international brands like Tiffany & Co. and ASOS in India.

Manish Chopra, formerly associated with Meta, is reportedly slated to spearhead Shein’s operations in India, enhancing the brand’s footprint in one of the world’s largest consumer markets.

Despite being banned in India four years ago amidst geopolitical tensions, Shein is set to make a comeback under a new operational framework. The Indian operations will be managed by a wholly-owned subsidiary of Reliance Retail, ensuring compliance with local regulations and data security standards. Shein will receive a licensing fee based on the profitability of its Indian operations, with all sensitive data hosted and safeguarded within Indian borders.

Upon its reintroduction, Shein will directly compete with established players like Myntra, backed by Walmart, and Tata’s Westside, in India’s lucrative $10 billion fast fashion segment. This move is expected to further intensify competition in the retail sector, offering Indian consumers more choices in affordable, fashionable clothing options.

DealCart Raises $3M to Expand Affordable Essentials for Pakistani Consumers

0

DealCart, a social e-commerce startup in Pakistan, has raised $3 million in seed funding led by Shorooq Partners and Sturgeon Capital, with contributions from 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners. This funding aims to enhance DealCart’s mission of providing affordable essential goods to low- and middle-income consumers across the country.

With Pakistan’s inflation rate surpassing 30 percent in 2023, many households are under significant financial strain. DealCart addresses this issue by sourcing low-cost products directly from manufacturers and collaborating with local brands, helping consumers who spend a large portion of their income on groceries and essentials save more and invest in their future.

DealCart targets a digitally savvy younger population that prefers online shopping. Despite the rapid growth of e-commerce in neighboring India, Pakistan’s sector has lagged. The State Bank of Pakistan’s introduction of RAAST, an online instant payment platform, supports DealCart’s efforts to bridge this gap and boost the country’s e-commerce sector.

Shorooq Partners believe DealCart’s unique approach to social commerce and affordable essentials aligns with their mission to support market-leading disruptors. This investment is expected to help DealCart scale rapidly and significantly impact the lives of millions in Pakistan.

DealCart combines social commerce with a gamified and interactive platform to provide underserved communities access to affordable daily essentials. By sourcing products directly from manufacturers and working with local brands, DealCart aims to revolutionize the way Pakistani consumers shop for necessities.

Bajaj Auto to Launch World’s First CNG Motorcycle in Pune

0

Bajaj Auto is poised to introduce the world’s first compressed natural gas (CNG) motorcycle at an event in Pune, with Union Minister Nitin Gadkari expected to attend. The bike, likely named Freedom 125, will feature dual switches for petrol and CNG, though it was initially speculated to be called ‘Bruzer’.

The company aims to offer an economical CNG bike targeting value-conscious customers, particularly those earning Rs 30,000-40,000 per month. The Managing Director highlighted that CNG bikes could significantly reduce emissions and either double the mileage or halve fuel costs. While analysts predict the bike may be priced around Rs 10,000-12,000 more than petrol bikes, Bajaj believes the additional cost will be offset by fuel savings.

Bajaj Auto also plans to export the CNG bikes to markets such as Bangladesh, Egypt, and other countries. The demand for CNG has risen due to increasing fuel costs and better efficiency, prompting Bajaj to explore alternative fuel options like LPG, CNG, and ethanol blends to reduce both running costs and environmental impact compared to petrol bikes.

The upcoming Bajaj CNG bike is expected to feature a 110-150 cc engine capable of running on both petrol and CNG, along with a 5-speed gearbox. Reports suggest the CNG tank will be integrated into the bike’s structure for better protection, with the petrol tank remaining in its conventional position and capacity similar to standard petrol bikes.

Projected to reduce operating and fuel costs by 50-65%, the new Bajaj Auto CNG bike will offer the flexibility to switch to a small backup petrol tank if the CNG runs out. This new model may be available in two variants, providing an innovative and economical transportation solution for consumers.

Digital Freight Brokerage Platform Lobb Raises $2.9M to Expand Operations and Technology Integration

0

Bengaluru-based digital freight brokerage platform Lobb has secured $2.9 million in a funding round led by investors including Rajesh Voddiraju, CEO of Voya India, Sharada Nandakumar, P Shyama Raju of Divyasree Developers, Ramana Reddy of Ensoftek, and Giri Pasumamula from Intel Corp. This funding round aims to fuel Lobb’s technology-driven growth and expand its market reach, according to co-founder Venu Kondur. Previously, Lobb raised $1.1 million from 3One4 Capital.

Founded in 2015 by Venu Kondur, Hemanth G, and Jayaram Raju K, Lobb has quickly grown into one of India’s leading digital freight brokerage platforms, connecting truckers and transporters nationwide. The startup targets achieving Rs 500 crores in revenue within two years and serves a wide range of logistics brands. Lobb collaborates with over 1,200 logistics companies and manages a network of more than 5,000 fleet owners and 30,000 trucks.

Currently operational in 22 cities, Lobb plans significant expansion. The funding will support this growth by expanding into over 50 new locations, focusing on high-density transportation routes. Additionally, Lobb aims to enhance operational efficiency through the integration of GenAI and machine learning technologies.

Anurag Ramdasan, Partner at 3One4 Capital, highlighted Lobb’s strategic integrations with major oil companies for fuel supply, banks for FasTag services, and upcoming initiatives for seamless annual insurance renewal and GPS navigation solutions for truckers.

Mode Retails Targets $10 Million Series A Funding to Expand Prabhu Shriram Incense Brand

0

Mode Retails Sales and Marketing Pvt. Ltd., known for its flagship brand Prabhu Shriram Incense, has announced plans to raise $10 million in its Series A funding round, as detailed in a press release issued on Wednesday.

The funding aims to expand production capacity, diversify the product line, and strengthen retail presence through its retail concept Ramalaya.

Prashant Kumar, the managing director of Mode Retails, emphasized the strategic importance of this funding initiative. He stated that the Series A funding is intended to elevate Prabhu Shriram Incense to new heights by offering divine fragrances that inspire happiness, peace, and prosperity. The investment will support scaling up operations and expanding reach to a broader audience, enriching their lives with the essence of Mode Retails’ products.

Established in 2019, Mode Retails specializes in incense-based products under the brand Prabhu Shriram Incense, with a significant presence across India and ambitious plans for international expansion.

Arya.ag Raises Rs 242.36 Crore in First Investment Round Since 2022

0

Agritech startup Arya.ag has secured approximately Rs 242.36 crore ($29.2 million) from existing investors in its first investment round since January 2022. The company’s board approved a special resolution to issue 53,695 CCPS at a price of Rs 45,137 each, according to regulatory filings accessed from the RoC.

The startup received significant backing from Asia Impact and Quona Capital through Quona Blue Earth and Accion Quona, contributing Rs 134.46 crore to the total raised. TheKredible estimates value Arya.ag at around Rs 2,700 crore or $325 million post-allotment, with the potential for valuation adjustments if additional funds are raised.

To date, Arya.ag has raised approximately $110 million, including a $60 million Series C round led by Asia Impact SA, Lightrock, and Quona Capital in 2022. Lightrock (formerly Aspada Investment) emerged as the largest external shareholder with a 17.89% stake, followed by Lightrock Venture with 12.84%.

Arya.ag operates a grain commerce platform connecting agricultural producers with buyers and provides additional services like warehousing and loans through third-party lenders. The company posted a significant profit for the fiscal year ending March 2023, with gross revenue growing 49.48% year-on-year to Rs 290 crore and profits surging 11 times to Rs 7.58 crore.

The company announced an increase in net revenue to Rs 360 crore in FY24, with a net profit of Rs 17 crore, though it has yet to file its audited annual report for the last fiscal year. Arya.ag competes with DeHaat, Ninjacart, and Bijak in the agritech space.

AstraZeneca India Invests ₹250 Crore to Expand Innovation Hub in Chennai

0

AstraZeneca India Private Limited (AZIPL) has announced a Rs 250 crore ($30 million) investment to expand its Global Innovation and Technology Centre (GITC) in Chennai, Tamil Nadu. The expansion aims to add nearly 1,300 roles focused on driving innovation and enhancing operational efficiency globally.

The inauguration ceremony of the expanded facility was officiated by Dr TRB Rajaa, Minister of Industries, Tamil Nadu, Christina Scott CMG, British Deputy High Commissioner to India, Sylvia Varela, AstraZeneca Vice President for Asia Area, and AstraZeneca’s leadership team in the country.

This investment marks a significant milestone for AstraZeneca in India as it celebrates its 45th year in the country. By 2025, the expanded GITC plans to bring in highly skilled professionals and utilize technologies such as artificial intelligence, machine learning, data science, and supply chain analytics to advance healthcare outcomes.

Dr Sanjeev Panchal, Managing Director & Country President, AstraZeneca Pharma India Limited (AZPIL), emphasized India’s robust talent pool and dynamic digital ecosystem, positioning it as a crucial hub for global operations. This strategic investment underscores AstraZeneca’s commitment to enhancing patient outcomes through cutting-edge technology.

MK Stalin, Chief Minister of Tamil Nadu, highlighted Tamil Nadu’s dedication to becoming a hub for technology and research. The collaboration with AstraZeneca aims to foster innovation and create high-value opportunities. Dr Rajaa acknowledged AstraZeneca’s confidence in Tamil Nadu’s talent pool and business environment, underscoring Chennai’s emergence as India’s GCC Capital and its role in driving economic growth and technological advancement.