Bajaj acquire Vishal Personal Care for ₹120 cr
Bajaj Acquires Vishal Personal Care For ₹120 Crore This will help Bajaj expand its business of personal care products.
Vishal Personal Care produces products such as hair oil and lotions. Already having a presence in the sale of motorcycles, Bajaj will use this acquisition to penetrate more customers and expand its penetration.
This move demonstrates Bajaj’s commitment to establishing its footing in the personal care segment. Try to make products better together to everyone. A significant move for Bajaj, that keeps on developing and contending in the market.
Adani enters Satellite business
Adani Group has entered the satellite business, another big leap into space technology. The company is working on enhancing its satellite communication and data network using the enormous data up to October 2023.
This move demonstrates Adani’s ambition to diversify from its traditional sectors such as energy and infrastructure.
The move is also reflective of India’s increasing clout in the global space market. It was seen by many as a brave and dynamic move, one that would inspire future connectivity and prosperity for the nation.
Adani’s entry in this field is a testament to its ambitions to explore bleeding edge technologies.
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India to become Canva’s largest market
India will become the largest market for Canva, ahead of the US and Australia. The design platform has experienced rapid growth in India, with more than 15 million users designing on Canva every month.
The company attributes this success to India’s young, digital-savvy population and the growing appetite for zero-configuration design tools.
Canva’s also localizing its platform with Indian languages, culturally relevant templates. This shift underscores India’s rising significance in the global technology landscape, as well as its ability to foster innovation and creativity.
Figure AI to raise $1.5B at $39.5B, valuation 15x
Tech startup Figure AI plans to raise $1.5 billion in funding, bringing its valuation to an eye-popping $39.5 billion.
This is a 15x value increase, demonstrating tremendous confidence in the company from investors. The investment round emphasises the interest in such AI-powered technologies and their potential to disrupt industries.
The rapid rise of Figure AI reflects its innovative approach and high expectations around its potential impact.
This maneuver positions the company as an industry leader in tech, but the focus now shifts to how it will utilize this financing for greater expansion and innovation.
Truemeds post Rs 61 crore loss in FY24
Online pharmacy platform Truemeds has registered losses of Rs 61 crore in FY 2024. The company struggled with soaring operating expenses and stiff competition in the e-pharmacy space.
Struggling with profitability despite its attempts to broaden its offering as well as target customer base, Truemeds finally suspended operations.
The loss underscores the challenges many digital health startups encounter trying to reconcile growth and sustainability.
This will be closely watched by investors and other stakeholders for signs of a 2024 recovery and improvement in the company’s financial health.
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