Vertex Financial News

Pilgrim has raised Rs 200 crore through a mix of primary and secondary funding. The round was led by existing investor Narotam Sekhsaria Family Office (NSFO) and saw participation from Vertex Ventures SEA, Sattva Family Office, and Mirabilis Investment Trust. New investors Vertex Growth Fund and Anicut Equity Continuum Fund also joined the round. The Mumbai-based company said it was valued at Rs 3,000 crore before the latest funding. With this round, its total capital raised across primary and secondary rounds now stands at around Rs 421 crore.

Subscribe to enjoy similar stories.Vertex Ventures Southeast Asia and India is actively scouting for hardware and deeptech investments, with a sharp focus on semiconductors, robotics, and battery technology, according to a top executive at the firm.“It's definitely a new space for us, but it makes sense due to how geopolitics is playing out. In the past two years, companies have been looking to be more independent and move away from relying on China,” Ben Mathias, managing partner at the firm, told Mint in an interview.Vertex Ventures is the latest firm to build a deeptech investment thesis in India, joining a sector buoyed by the growing demand for "sovereign technology”.

Subscribe to enjoy similar stories. Sports nutrition brand Fast&Up has attracted interest from venture capital firms Venturi Partners and Elev8 Venture Partners for its ongoing $70 million fundraise, two people familiar with the matter said. The proposed $70 million round highlights rising investor appetite for preventive nutrition brands as India’s wellness market scales rapidly.

₹500 crore in revenue and forming the backbone of its sales—such as Dabur Red Paste, Dabur Amla hair oil, Dabur Honey and Chyawanprash, are widely perceived as “boomer brands,” Mahasuar said.“Gen Z is very particular about ingredients, and look and feel—and most importantly they want visible results,” he told Mint. “Companies in skin care and hair care have been struggling over the last three to four years.

AI models, On February 5. The Gemini 2.0 Flash model is now available to all, while the Gemini 2.0 Pro model is currently being tested for Gemini Advanced subscribers.

Vertex Global Services on Tuesday announced its plan to hire 4,000 language experts from India's Tier II and Tier III cities in next 3 to 5 years to enhance customer experience. Currently, around 60 per cent of graduates in India are seeking better job opportunities by moving from tier-II and tier-III cities to tier-I cities, Vertex Global Services said in a statement.

Kazam EV Tech, which offers several charging products and services for electric vehicles, said on Monday that it raised $8 million in a funding round led by Vertex Ventures. Existing investors like Avaana Capital and Alteria Capital, among others, also participated in this round, the company said. Kazam plans to use the proceeds to strengthen its tech and product teams, increase its offerings and expand its market presence. The firm had raised about $11 million before the latest round, according to data from Tracxn.

Beauty and personal care company Honasa Consumer – the parent entity of Mamaearth – is discontinuing its ayurvedic beauty brand Ayuga. In an earnings presentation on Friday, Honasa Consumer said it could not establish a product-market fit and started sunsetting the brand from June this year. Following the discontinuation of Ayuga, Honasa Consumer will have six brands in its portfolio – Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the company sells colour cosmetics products.

PTD-DBM exhibited promising potential in facilitating hair regrowth. Research suggests the peptide may possibly inhibit loss by regulating this biological pathway.Androgenetic alopecia is considered to have notable physiological and psychological impacts on models affected by it. The observed phenomenon is a degenerative state exhibiting a distinct configuration of alopecia.

ALSO READ: Fed's Powell says looming US election will not sway rate decisions On May 7 (Tuesday), a report on consumer credit for March will be released by the US central bank. May 10 (Friday) will see the release of data on preliminary consumer sentiment for May. Following companies are due to report quarterly earnings in the week ahead—Tyson Foods, Vertex Pharmaceuticals, Palantir, Realty Income, Disney, McKesson, Ferrari, GlobalFoundries, Coupang, Electronic Arts, Rivian Automotive, Datadog, Uber Technologies, Anheuser-Busch InBev, Airbnb, Shopify, Arm, Energy Transfer, Trade Desk, Beyond Meat, Affirm, AMC Entertainment, Warner Bros.

Patients suffering from pain have limited options when it comes to medication

₹293 Crore) in a Series B funding led by Vertex Growth, SBI Investment Co. Ltd, Farglory, Lesing Nine, Stride Ventures, Tuscan Ventures and Trifecta Capital. Existing investors Vertex Southeast Asia and India, and InnoVen Capital also participated in the round.

The deep freeze in biotech is beginning to thaw. About half a dozen biotechnology companies have gone public since the start of 2024, with some raising hundreds of millions of dollars. The jump-start to the new year is a welcome sign for the industry after a challenging two years fueled by layoffs, scientific hurdles and rising interest rates, investors say.

Gemini 1.5 Pro model boasts performance levels akin to the larger Gemini 1.0 Ultra model, according to Google. The release follows OpenAI's success with ChatGPT in late 2022, prompting Google to position itself as a major player in cutting-edge generative AI technology capable of creating text, images, and videos based on user prompts. Gemini, initially released by Google in December, offered three versions tailored for various tasks and compatible with a range of devices, from mobile to large-scale data centers.

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Check out the companies making headlines in midday trading.

U.S. regulators have approved two gene therapies for sickle cell disease

Essar Oil UK will invest $3.6 billion into a range of energy-efficiency and carbon-capture initiatives over the next four to five years. This will enable the company to decarbonise its production processes by 2030, its chief executive said. «Our focus is to decarbonise all the production processes,” Deepak Maheshwari said. Of the $3.6 billion, $2.4 billion will be invested at its site in Stanlow, between Liverpool and Manchester in the UK, and $1.2 billion in India. The investment, he said, will come from the company's own cash flows, a mix of debt and equity, and the UK government's subsidy for low-carbon initiatives which is termed as ‘contracts for difference’. Essar had in February announced the launch of Essar Energy Transition, an initiative to create an energy transition hub in Northwest England. »We see ourselves in a very unique position...by the time all government approvals are received, we would have implemented at least two of our hydrogen projects.