Urban Company raises fresh funds worth ₹1,410 cr.

Urban Company, the on-demand home services marketplace, has raised $188 million ( ₹1,410 crore) in a funding round led by Prosus, the entity that holds South African conglomerate Naspers’ international internet assets.Dubai-based Vy Capital, alternative investments firms Steadview Capital and Tiger...

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Blackstone commits up to USD 2.8 bn to acquire controlling stake in Mphasis.

Private equity firm Blackstone on Monday made a ₹8,262 crore offer to acquire an additional 26 per cent stake in Mphasis Ltd as it looked to consolidate its holding in the IT outsourcing service provider amid a surge in demand for cloud computing.Blackstone, which had bought a majority 60.5 per cent...

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Edtech startup upGrad raises $120 million funding from Temasek.

upGrad on Monday said it has raised USD 120 million (about ₹897.3 crore) from Singapore-based Temasek, making this the first external fund-raise by the edtech major.Since its inception in 2015, upGrad has been 100 per cent owned, funded, and run by its co-founders as a capital-efficient business.The...

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HCL Tech posts ₹2,962 crore Q4 profit.

HCL Technologies Ltd expects double-digit revenue growth in constant currency terms for FY22 in view of the positive demand environment and robust deal pipeline. The IT services major said earnings before interest and taxes (Ebit) margins will be in the range of 19-20%.India’s third-largest software...

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Mukesh Ambani, Asia’s richest man, buys UK’s iconic Stoke Park for $79 million.

Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, bought Stoke Park Ltd. for $79 million, adding an iconic locale that’s been the setting for two James Bond films to its portfolio of tourism properties.A wholly-owned unit of Reliance Industries will buy Stoke Park, which owns...

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TSMC approves $2.8 billion for capacity expansion.

Taiwan Semiconductor Manufacturing Co's (TSMC) board has approved $2.89 billion in spending to increase capacity, the company said on Thursday, responding to a global chip shortage that has affected carmakers in particular.In a brief statement, the world's largest contract chipmaker said its board had approved...

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Govt launches network of 6,580 labs for quality control of Indian products.

The government has launched a nationwide network of 6,580 laboratories in line with Prime Minister Narendra Modi’s vision that “scale” and “standards” are the two key principles that could catapult India as a global manufacturing hub, commerce and industry ministry said.“To enhance competitiveness...

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Govt rolls out ₹945 crore fund for startups.

Union commerce minister Piyush Goyal on Monday formally unveiled a Startup India Seed Fund Scheme (SISFS) to handhold and financially support early-stage startups across 300 incubation center's, almost three months after the Centre announced the plan.According to the commerce ministry, the fund is expected...

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ICICI Pru to raise up to ₹2,000 crore for fresh real estate fund.

ICICI Prudential Asset Management Co. is aiming to float its sixth residential real estate fund, two people told VCCircle, seeking anonymity.The joint venture of ICICI Bank and the UK’s Prudential Plc is seeking to float a credit fund with a corpus of ₹2,000 crore ($270 million), including a greenshoe...

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‘NASA rules,’ says Elon Musk as SpaceX wins $2.9 billion moon lander contract.

NASA awarded billionaire entrepreneur Elon Musk's space company SpaceX a $2.9 billion contract to build a spacecraft to bring astronauts to the moon as early as 2024, the agency said on Friday, picking it over Jeff Bezos' Blue Origin and defense contractor Dynetics Inc.Bezos and Musk - the world's first...

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