CORPORATE news
Redcliffe and Skye Air tie-up to introduce drones in healthcare
Redcliffe Labs has come up with its first commercial drone flight in the country’s healthcare sector. The drone delivered 5kg payload in temperature-controlled boxes from Gyansu, Uttarkashi to Vivek Vihar, Dehradun, which is at 60km aerial distance. The project was a part of Redcliffe and Skye Air tie-up; in the past three months they have done 40 successful trials in North India.
Ananth Technologies starts spacecraft manufacturing unit in Bengaluru
The 15,000sq-m spacecraft manufacturing unit of Ananth Technologies at Karnataka Industrial Areas Development Board Aerospace Park in Bengaluru was recently inaugurated by ISRO Chairman S. Somanath. The unit can conduct assembly, integration, and testing of four large spacecraft simultaneously. Ananth Technologies has contributed towards the manufacture of 89 satellites and 69 launch vehicles built/launched by ISRO.
Tata Motors bags the biggest-ever EV fleet order in India
An order for supply of 10,000 XPRES-T EV units from BluSmart Electric Mobility has been bagged by Tata Motors. The deployment of 10,000 units makes this the biggest ever EV fleet order in India.
With deliveries starting soon, these vehicles will be used across the country for commuters, in turn helping minimise the carbon footprint. The company is delighted to continue its association with BluSmart Electric Mobility.
Mitsubishi Electric to produce inverters and factory automation in Pune
Mitsubishi Electric Corporation will be investing ₹ 2.2 billion to establish a new factory in India, which will manufacture inverters and other factory automation (FA) control systems. The new two-floor, 15,400sq-m factory will be built on 40,000sq-m land near Pune in Maharashtra. It will help expand Mitsubishi Electric’s production capabilities to meet local demand, thus contributing to the Make in India initiative promoted by the Indian government.
TVS Motors to raise money for EV business expansion
Automaker TVS Motor Co. Ltd is riding high on its plans to grow its EV business as it engages in advanced talks to raise ₹ 40-50 billion from private equity firms. It could use the proceeds of the proposed fundraising to create new electric vehicle and battery manufacturing facilities. It is doubling down on electric vehicles as India sharpens its focus on reducing vehicular pollution in cities and cutting dependence on fossil fuels amid surging fuel prices.
Bajaj Auto subsidiary and vendors investing further in EV manufacturing facility
Bajaj Auto’s wholly-owned subsidiary Chetak Technology Ltd and its vendor partners will be investing nearly ₹ 7.5 billion in the electric vehicle (EV) manufacturing plant that is spread across 6.5 acres of land. The plant’s 500,000 annual capacity aims to cater to both domestic and export markets and is said to have sold over 14,000 Chetak e-scooters since its launch, and has received more than 16,000 bookings.
eInfochips to open a new design centre in Indore
Recently awarded the Design Services Company of the Year by IESA, eInfochips plans to hire approximately one hundred engineers in the next six months as it opens a new design centre in Indore. The hiring will be focused on embedded systems, hardware design, silicon design, and digital technologies—such as artificial intelligence, cybersecurity, cloud, and blockchain.
Adani Defence & Aerospace acquires strategic stake in General Aeronautics
Working closely with farmers and agricultural chemical companies that offer tech-enabled crop protection services and health monitoring, a 50% equity stake has been taken by Adani Defence & Aerospace in General Aeronautics. This helps in providing a platform for startups and MSMEs for rapid growth and scalability of innovative technologies.
ABB acquires controlling stake in Numocity
Increasing its shareholding to a controlling majority of 72%, ABB has acquired a major stake in Numocity. India, South East Asia, and the Middle East are target regions for Numocity, which offers a cloud based digital platform allowing consumers and fleet operators to use a network of fixed chargers or, in simple words, ‘pay as you go’ basis.
Pact between Ather Energy and Magenta to install EV charging grids
Ather Energy and Magenta have entered into a pact, which gives Ather access to Magenta ChargeGrid’s multiple locations across India. It aims to collectively accelerate the pace of expansion of public charging networks and the adoption of EVs in India. Magenta ChargeGrid is currently expanding its charging network to 35-40 cities in India and aiming to set up 11,000 chargers by the end of FY23.
GMES signs MoU to skill CCTV security system technicians
At the launch of CCTV Technician Training and Certification programme ‘Surveillance Unmasked,’ by GeniusMinds Educational Services (GMES), a memorandum of understanding (MoU) was signed with Electronics Sector Skills Council of India (ESSCI). This multi-city programme is a day event under the terms of the MoU. GMES will provide an 8-hour certificate refresher course for CCTV installers (field technicians), trainers, and industry subject matter experts.
Hero Electric and Zypp Electric expand partnership
To support the growth of the logistics and delivery segment, Hero Electric has expanded its partnership with Zypp Electric. Under the partnership, Hero Electric will be deploying 150,000 electric scooters for Zypp Electric’s fleet in the next three years. With a fleet size of 5000 electric scooters, Zypp is currently present in Delhi-NCR and plans to expand to Mumbai, Bengaluru, Hyderabad, and Pune this year.
Tata Motors subsidiary to acquire Ford India’s Gujarat plant
A Memorandum of Understanding (MoU) has been signed with the Gujarat government for the potential acquisition of Ford India’s Sanand plant by Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors for EVs. TPEML would invest in new machinery and equipment at the plant to make the unit ready to produce its vehicles. The agreement includes a transfer of Ford India‘s land and buildings, vehicle manufacturing plant, machinery, and transfer of all eligible employees.
ElectricPe partners with Electric One to expand EV charging ecosystem
EV charging platform ElectricPe has partnered with EV store chain Electric One to provide charging infrastructure and encourage EV adoption. Through this alliance, Electric One customers across 82 stores in India will get access to ElectricPe’s EV platform. It will also strengthen ElectricPe’s network, which has already onboarded 2500 public charging points in Bengaluru, the largest network in the city.
Inventus India now known as Athera Venture Partners
Inventus India, an early stage venture capital firm, has rebranded itself as Athera Venture Partners. It also announced the launch of its fourth fund with a target corpus of ₹ 9 billion ($120 million). Athera is a Sanskrit word meaning ‘path’ and direction. This new identity reveals the Indian-ness while having a focus towards investing in the Indian start-up ecosystem.
Mobile calibration van launched by WIKA for door-step service
Launched by WIKA Instruments, the mobile calibration van has been transformed into a value-added service by providing services at the customer doorstep while delivering convenience. Appointments can be booked easily through various channels like toll-free number, email IDs, and WebApp. Apart from being available for calibration, the mobile laboratory gives a report which shows the measurement error.
Vedanta gets board approval to raise funds for chip and display units
Vedanta has a total planned investment outlay of $20 billion for two separate units for chip and display manufacturing. It has received approval to raise up to ₹ 40.89 billion from its board of directors. The funding will be via debentures on a private placement basis. Vedanta is seeking incentives from the Central government and is also in talks with several Indian state governments on the units’ location.
SJVN to invest over ₹ 10 billion to set up solar projects in UP
Satluj Jal Vidyut Nigam (SJVN) is looking to set up three renewable energy projects in Uttar Pradesh. Two solar projects with a capacity of 75MW each will be set up at villages Parasan and Gurha in district Jalauna and one of 50MW will be set up at village Gujarai in Kanpur Dehat. A total of ₹ 10.57 billion is being invested in these projects in Uttar Pradesh.
Waaree Energies receives NCLT approval to buy Indosolar
Waaree Energies has received NCLT approval to buy Indosolar Ltd, which will facilitate augmentation of the solar cell manufacturing capacity of Waaree Energies to 5.4GW from the currently planned 4GW. It is expected to start manufacturing operations within six months from acquisition of the Indosolar plant, after assessing the infrastructure and ensuring that relevant equipment complementing the expansion plans are in place.
Spacetech firm Bellatrix secures $8 million in Series A funding round
Bellatrix Aerospace has raised $8 million in a Series A funding round led by BASF Venture Capital GmbH and Inflexor Ventures. The funds will be used for expanding Bellatrix’s product portfolio, hiring talent, and developing its infrastructure. The startup competes with the likes of SatSure, Skyroot Aerospace, Agnikul Cosmos, and Dhruva Space. The government has been focusing on boosting spacetech startups in the country. It is also looking at allowing FDI in the spacetech sector.