Bits and Bytes: Know about startup, business news in Pune - Hindustan Times
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Bits and Bytes: Know about startup, business news in Pune

Dec 02, 2023 09:22 AM IST

Omnichannel payment solutions provider PhiCommerce raised ₹83 crore as part of its Series A1, led by BEENEXT, a Singapore-based Venture capital firm

PhiCommerce raises 83 crore in Series A round led by BEENEXT

Omnichannel payment solutions provider PhiCommerce raised <span class='webrupee'>₹</span>83 crore as part of its Series A1, led by BEENEXT, a Singapore-based Venture capital firm. (REUTERS (PIC FOR REPRESENTATION))
Omnichannel payment solutions provider PhiCommerce raised 83 crore as part of its Series A1, led by BEENEXT, a Singapore-based Venture capital firm. (REUTERS (PIC FOR REPRESENTATION))

Omnichannel payment solutions provider PhiCommerce raised 83 crore as part of its Series A1, led by BEENEXT, a Singapore-based Venture capital firm. Opus Ventures also participated in this round of funding. The funding will be used towards PhiCommerce’s expansion into international geographies and development of innovative solutions to further enhance the payments ecosystem.

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EMotorad raises USD $20M in Series B round led by Panthera Growth Partners

EMotorad, city-based electric cycle startup, has raised 166 crore in a Series B round led by Panthera Growth Partners. The round also saw participation from xto10x, Alteria Capital, and existing investors Green Frontier Capital. The company aims to deploy fresh funding to develop technologically enhanced smart electric cycles, boost manufacturing capabilities, and deepen offline presence across key regions in domestic and global markets.

Breath AI launches breath measuring wearable ‘Breath Band’

City-based deep sci-tech venture Breath AI launched an Artificial Intelligence (AI) – driven wearable technological device ‘Breath Band’ (BB) made to sense, track and map the breath and provide pathways to people for a healthy and happy life. Sanjay Phadke, founder of Virtual Sense Global Technologies said, “Breath Band is a non-invasive technology solution that will help the users to monitor their health parameters pivoted to body, mind, and wellness (BMW) through the most crucial and often ignored element of ‘Breath’. Wearable on the wrist, the device has been designed, prototyped, tested and validated in India with IP and algorithms that are fully home - grown.”

IIFL Samasta finance to raise 1,000 cr through secured bonds

IIFL Samasta Finance, which is one of largest non-banking microfinance companies (NBFC-MFI), will raise up to 1,000 crores through its maiden public issue of secured bonds, for the purpose of business growth and capital augmentation. The bonds offer up to 10.50% and a high degree of safety. The issue opens on Monday, December 4, 2023 and closes on Friday, December 15, 2023. IIFL Samasta is a part of IIFL Finance, which is one of India’s largest retail-focused NBFCs with loan assets under management of 73,066 crore. IIFL Samasta Finance will issue bonds, aggregating to 200 crore, with a green-shoe option to retain over-subscription of up to 800 crore (aggregating to a total of 1,000 crore). The NCD is available in tenors of 24 months, 36 months and 60 months.

Earth Sight Foundation organises ‘Satellite in Your Hand’

ISRO, NRSC and Earth Sight Foundation hosted a “Satellite in Your Hand’ workshop in Pune to highlight the transformative potential of space technology and digital mapping in advancing rural and urban development. The day long programme dwelled into the practical applications of space technology for community development and understand how digital maps are becoming powerful tools for planning and decision-making. The event was held under the aegis of ISG, and ISRS, and supported by Symbiosis and Bharti Vidyapeeth University.

Bonfiglioli’s inaugurates 100 crores state-of-the-art facility in Pune

Bonfiglioli Transmissions inaugurated its 42,500 square meters high-tech, smart assembly facility in Pune, with almost 80 per cent of the plant being solar powered. Kennady V Kaippally, country manager of Bonfiglioli India, said, “The western region represents a high-growth market, and we are expanding our assembly facility in Pune to meet the needs of the evolving market. The new facility will help us introduce a wide range of products to 20-odd verticals, including food, packaging, cement, steel, pharmaceutical, textile, material handling, sugar, power generation, paper, and water treatment sectors.”

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