CEO Financial News

B2B sourcing platform Bidso has raised $1.5 million in a funding round led by Bengaluru-based PeerCapital. The round also saw investments from DeVC and angel investors including Mohit Sadaani of The Mom’s Co., RTP Global partner Nishit Garg, OfBusiness Founders Fund, Livspace CEO Saurabh Jain and Mosaic CEO Revant Bhate. While PeerCapital wrote a cheque of $1.2 million for the seed round, the remaining $300,000 was pumped in by the other investors, Bidso said in a statement on Tuesday.

By Samrhitha A

Exide Industries Ltd on Tuesday said it expects to regain its pre-covid EBITDA margin of 13-14 per cent in the next one to two years. The company's current EBITDA margin is 10.6 per cent, as input costs have remained erratic. «We are seeing a revamp in demand after Covid and expecting both automotive and industrial verticals will do well.

Honda Motorcycle & Scooter India (HMSI) on Tuesday said it has launched the all-new bike SP160 in the country with price starting at Rs 1.17 lakh (ex-showroom). The 160cc-bike comes in two trims tagged at Rs 1.17 lakh and Rs 1.21 lakh respectively.

VoltUp Tuesday introduced advanced cell chemistry PowerCore 2.0 in its swappable batteries catering to wide spectrum of EV powertrains. The battery is designed for all vehicle segments from slow-speed e-2Wheelers to heavy-duty e-LCV’s.

Investing.com — U.S. futures retreated Tuesday, with corporate results to the fore as the quarterly earnings season draws to a close.

By Akash Sriram

From Sundar Pichai to Laxman Narasimhan of Starbuc... moreFrom Sundar Pichai to Laxman Narasimhan of Starbucks.

Silver Rakhis, FlowerAura offers the most extensive and diverse range of Rakhis available in India, ensuring that every sibling can find a Silver Rakhi that perfectly resonates with their unique bond. Shrey Sehgal, the CEO of FlowerAura, expressed enthusiasm about the Collection, stating, “At FlowerAura, we firmly believe that a Rakhi should be more than just a thread; it should be a lifelong keepsake, a symbol of love, and a celebration of the cherished bond between siblings.

Proxgy has launched 'Made in India' pocket sound box, AudioCube Mini, for FinTech companies and PSU banks. The 4G-enabled AudioCube Mini sound box is an extension of Proxgy's AudioCube range, which includes QR code sound box and Bluetooth music sound box.

Vegh Automobiles has announced it plans to open over 100 retail stores across 12 states by the end of this fiscal year. Presently, the company has presence in Uttar Pradesh, Jammu, West Bengal, Odisha, Punjab, Haryana, and Assam. The company now plans expand into Delhi NCR, Rajasthan, Madhya Pradesh, Chhattisgarh and Chandigarh markets. The company plans to establish both company-owned operated outlets, as well as franchise stores. “We have recently raised $5 million in funding, which will play a crucial role in fuelling the company's ambitious expansion plans. The fresh injection of capital will be allocated towards strengthening the company's sales and service network, accelerating research and development efforts,” Pragya Goyal, CEO of Vegh.

AI-powered creator tech company on Tuesday announced the launch of its influencer marketing platform ‘Animeta Brandstar' to help brands execute campaigns with the most relevant creators, said the company through its press release. The tech company said that it will soon enable 'Social Commerce' and 'Affiliate Marketing,' under its Brandstar+ initiative. Animeta Brandstar wishes to solve issues in digital advertising such as lack of visibility and control due to multiple intermediaries, said Animeta. At present, influencer marketing is expected to grow at 25 per cent CAGR, reaching Rs 220 billion by 2025.The company in its statement said that it will provide real-time data analytics to optimize campaigns, ensure brand fitment and measure Return on Investment (ROI) through its new platform.

Adani Ports & SEZ (APSEZ) Tuesday posted an 80% rise in quarterly profit, on robust operations and a swing to a forex gain from a loss a year earlier. India's biggest operator of ports also gave guidance for an up to 15% rise in cargo tonnage, a 20% increase in revenue and a 17% rise in earnings before interest, tax depreciation and amortisation (Ebitda) for the current fiscal year ending March 31, 2024. APSEZ posted a net profit of Rs 2,119 crore in April-June quarter compared to Rs 1,177 crore a year earlier.

₹13,000 crore. The two projects will have a combined capacity of 2800 megawatt and help the state achieve its goal of becoming a $1 trillion economy by 2028. The two plants will be situated in Shirvata, Pune (1800 MW) and Bhivpuri, Raigad (1000 MW) and will generate employment for over 6,000 people.

Redfin CEO Glenn Kelman says it's hard to fault the Fed for overdoing rate hikes when there are other persistent sources of inflation.

Bitstamp, an early crypto exchange founded in 2011, is reportedly planning fresh fundraising “through strategic investors” to gear up the exchange’s growth and operations.

ChatGPT’s ability to have elementary conversations to near-human intelligence. Compression algorithms have been used to save large data files, especially those with heavy image and video content, with lower storage needs. There is some loss when the data is reproduced.

(Chaitanya Sarawate is president & CEO, GE HealthCare South Asia and managing director, Wipro GE Healthcare. Shobha Mishra Ghosh is director & head - govt. affairs & policy, GE HealthCare South Asia)

GPS Renewables, a Bengaluru headquartered biofuels technology company, has acquired Germany-based Proweps Envirotech GmbH, for an undisclosed amount. Proweps Envirotech GmbH is a design and engineering company that specializes in technologies to utilize municipal and industrial organic waste and agri-residue for biogas production.

Sushant Bhansali, CEO, Ambit Asset Management, says: “We expect that from here on, while Nifty might go another 25-30% odd in the next two or three years, the small and midcaps will probably deliver much more than that given the size and the opportunity set which they bring to the table in terms of the Indian economy.” Bhansali further says that from a valuation perspective, banks, NBFCs and IT are really comfortable. But the growth momentum in the banks and NBFCs is much beyond IT as of today.What is your market perspective? Do you think that we are getting a bit toppish and that is why a bit of consolidation and sideways move or do you see more legs to the rally?The rally has just started. We had almost one and a half years of lull between September 21 and March 23.

mother-daughter duo to journey into the cosmos. Their incredible journey will happen aboard Virgin Galactic's 'Galactic 02' flight, scheduled to take off from New Mexico on Thursday. In an interview for the BBC, Schahaff told that the remarkable story began when she, while on a Virgin Atlantic flight from Antigua to the UK, stumbled upon an ad about a space travel competition hosted by Virgin Galactic. Intrigued by the prospect of space travel, she decided to participate in the competition, never anticipating the destiny that awaited her. Months later, Schahaff received the news that she had not only made it to the top 20 finalists but had emerged as the ultimate winner, securing her seat on the space expedition.