Indian Oil Corporation (IOC) is gearing up to manufacture fuel for Formula 1 (F1) cars within the next three months. The fuel production will take place at the Paradip refinery located in Odisha, known for its advanced technology and strategic positioning. SM Vaidya, Chairman of Indian Oil Corporation (IOCL), announced the partnership with Two Wheels […]

In March 2024, the Indian electric two-wheeler industry experienced its highest-ever monthly sales, surpassing the 1 lakh mark for the second time. This surge coincided with the conclusion of the FAME (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India) subsidy by the end of the financial year. March 2024 witnessed electric two-wheeler […]

Pocket FM, an audio entertainment platform, announced on Wednesday that it has secured $103 million in Series D funding, marking one of the largest fundraising rounds of the year. This new capital infusion aims to bolster Pocket FM’s expansion efforts into the US market and facilitate its global expansion plans into Europe and LatAm markets […]

In its latest move of organizational restructuring, IBM has revealed substantial job cuts within its marketing and communications division. This decision, termed as a ‘Resource Action’ by IBM, reflects the company’s ongoing transition towards artificial intelligence (AI) and other emerging technologies. Jonathan Adashek, IBM’s Chief Communications Officer, communicated the news to employees in a concise […]

Auto sales figures for March 2024 and FY24 have been released, showing significant growth across various companies. Maruti Suzuki continues to lead the market, while Hyundai has regained the second spot. Maruti Suzuki Maintains Leadership Maruti Suzuki, India’s largest carmaker, retained its position at the top by selling 1,52,718 passenger vehicles in March 2024, marking […]

India’s major cities are witnessing a surge in the housing market in 2024. Sales have risen by 20% in the first quarter from January 1 to March 15, with nearly 147,000 units sold across Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune, according to a report by NoBroker, a property search portal. Factors Driving the Market […]

Healthcare unicorn Pristyn Care has undertaken a restructuring exercise, resulting in the reduction of approximately 120 jobs across various teams, as reported by the media. Restructuring Initiative The restructuring initiative aims to position the company for profitability in the financial year 2024-25 (FY25) and eventual public listing in 2027. According to sources cited by Inc42, […]

HiLabs, a provider of AI-driven solutions focused on analyzing raw data to extract meaningful insights and revolutionize healthcare, has secured $39 million in Series B funding. Funding Round Details The Series B funding round, led by Eight Roads Ventures and Denali Growth Partners, along with participation from F-Prime Capital, follows significant adoption of its MCheck™ […]

SuperK, a franchised grocery retail chain catering to small towns, announced on Wednesday that it has secured USD 6 million (approximately Rs 49 crore) in a funding round led by Blume Ventures. The Series A funding round also saw participation from Silver Needle Ventures, Veltis Capital, Atrium Angels, as well as several angel investors and […]

The Indian government has announced an 82 percent increase in funds for the Tea Development and Promotion Scheme, allocating Rs 528.97 crore for the next two financial years. The scheme aims to support the development of enhanced tea varieties to boost production and quality. Objectives of the Scheme Amardeep Singh Bhatia, Additional Secretary in the […]