City Venture Financial News

India's Skyroot Aerospace said on Monday it has raised $27.5 million in a fresh round of funding led by Singapore's Temasek, upping the ante in the country's burgeoning space industry days after rival Agnikul Cosmos raised a similar amount. The Hyderabad-based company, which launched India's first private rocket in 2022, is set to launch its second commercial rocket, the Vikram-I, next year. The launch vehicle can take payloads of upto 300 kilograms into low earth orbit.

OKX Ventures, the venture capital subsidiary of notable cryptocurrency exchange and Web3 technology firm OKX, declared its involvement in the Series B funding phase of Celestia Lab today. Celestia stands as the pioneering modular blockchain network which allows developers to utilize its platform as a foundational layer for consensus and data processes. Post this, developers have the liberty to select a virtual machine, such as Ethereum, Solana, or zero-knowledge roll-ups among other compatible smart contract execution layers, to create and launch their distinct blockchain networks. This notion diverges from the earlier blockchain infrastructure generations where Layer-1 chains were responsible for consensus, data operations, and execution collectively, a setup referred to as 'monolithic' by Celestia.

El Salvador can follow Singapore’s lead and become a financial center in the Americas, says VanEck strategy advisor Gabor Gurbacs.

Hexaware Technologies, owned by global private equity firm The Carlyle Group, has appointed former Infosys and Tredence executive Girish Pai as the global head of its data and AI service line. “Hexaware expects to make rapid strides toward data and AI leadership. His leadership promises to unlock new horizons and drive innovation in the ever-evolving landscape of technology solutions,” the Mumbai-headquartered information technology (IT) services firm said in a statement.

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Hinduja family head is confident about the potential of India and firmly believes it will become the third-largest economy in the world by 2030. «At the moment, the best country with a lot of potentiality and growth is India, and it is well protected and secure.

Washington | Venture capital investor DYNE Maritime has launched a $US100 million ($157 million) fund to invest in maritime technologies related to the AUKUS military intelligence sharing pact.

Piramal Group has sold residual bad loans worth ₹531 crore of its Advantage Raheja exposure, which includes properties such as a JW Marriott hotel in Bengaluru and a Crowne Plaza unit in Pune. These loans have been sold to Omkara Asset Reconstruction Co., giving Omkara full ownership of all loans linked to this exposure. These loans, reflected as receivables in the form of security receipts (SR) on Piramal's books, are now being sold for upfront cash.