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News on Medial
ASM Technologies to invest Rs 510 crore in Karnataka
Economic Times
·
5m ago
Medial
ASM Technologies has partnered with the Karnataka government to invest Rs 510 crore in expanding its ESDM-related manufacturing and precision engineering capacity. The company will purchase 10 acres from the Karnataka Industrial Areas Development Board for its new facility. This expansion aims to boost the electronics, semiconductor, and solar sectors, create jobs, and advance technology. Recently, ASM also started operations at new facilities in Dabaspet and Sriperumbudur, enhancing its manufacturing capabilities.
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Epsilon to invest Rs 15,350 Cr for EV battery facility in Karnataka
YourStory
·
5m ago
Medial
Epsilon Group plans to invest Rs 15,350 crore in Karnataka to establish a manufacturing and research facility for EV battery materials, focusing on graphite anode and LFP cathode production. Signed at the Invest Karnataka Summit, the initiative aims to bolster India's EV ecosystem, create jobs, and reduce import dependency. The investment includes Rs 9,000 crore for anode and Rs 6,000 crore for cathode manufacturing. This supports India's clean energy transition and strengthens its position as a battery technology hub.
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Karnataka government signs MoUs with two Korean firms
YourStory
·
1y ago
Medial
The Karnataka government has signed two MoUs worth Rs 1,040 crore with DN Solutions and EMNI Company Limited in Seoul, South Korea. The strategic partnerships will boost manufacturing, research and development, and battery technology sectors in the state. DN Solutions will invest Rs 1,000 crore in establishing machine manufacturing facilities, a research center, and a technical support center. EMNI Co. Ltd will invest Rs 40 crore in battery technology advancements, particularly focusing on the storage, testing, and recycling of LG Energy Solution's battery cells in Karnataka.
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Foxconn infuses Rs 1,200 crore in Karnataka unit
Economic Times
·
11m ago
Medial
Foxconn has invested Rs 1,200 crore (USD 144 million) into its Karnataka-based subsidiary, Foxconn Hon Hai Technology India Mega Development Pvt Ltd. The investment was made through Foxconn's Singapore-based arm, which purchased over 120.35 crore stocks of the Indian subsidiary. Foxconn is also planning to invest Rs 25,000 crore to establish a large manufacturing plant in Karnataka, creating 40,000 jobs. This plant will become the second-largest Foxconn facility after its unit in China. So far, Foxconn Singapore has invested over Rs 13,800 crore in the Karnataka unit.
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Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit
Economic Times
·
10m ago
Medial
- Tamil Nadu cabinet approves Rs 13,180 crore investment by Yuzhan Technology (India), a unit of Foxconn, generating 14,000 jobs. - Foxconn considering Rs 1,000 crore investment to set up smartphone display module assembly unit in Tamil Nadu for Apple. - Foxconn acquires 500,000 square feet facility near Chennai for manufacturing smartphone modules, encouraging other contract manufacturers to use its components. - Foxconn's investment is the largest among 14 projects approved by the Tamil Nadu Cabinet, with a cumulative investment of Rs 38,698.80 crore. - Tata Motors to invest Rs 9,000 crore in manufacturing Jaguar Land Rover vehicles in Ranipet. - Other investments approved include Leap Green Energy Pvt Ltd (Rs 10,375 crore), Freetrend Industrial India (Rs 1,000 crore), Kaynes Circuits India (Rs 1,395 crore), Ascent Circuits (Rs 613.6 crore), and Lucas TVS (Rs 510 crore).
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CII Karnataka elects new office bearers for 2024-25
Thehindubusinessline
·
1y ago
Medial
The Confederation of Indian Industry (CII), Karnataka has elected new office bearers for the year 2024-25. N Venu, MD & CEO of Hitachi Energy, has been elected as the new Chairman, while Rabindra Srikantan, Founder and Managing Director of ASM Technologies Ltd, will serve as the Vice Chairman. Venu has been leading Hitachi Energy in India since 2019 and has overseen several sustainability projects. Srikantan is a successful entrepreneur with over 35 years of experience in ER & D and Design Led Manufacturing.
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Karnataka expecting Rs 10 lakh Cr investment commitments in investor meet: Minister Patil
YourStory
·
5m ago
Medial
Karnataka is set to host the Invest Karnataka 2025—Global Investors Meet, expecting Rs 10 lakh crore in investment commitments. The event aims to position Karnataka as a premier global investment hub, focusing on tech-driven and green growth. Key participants include central ministers and industrialists. The meet will feature sessions on semiconductors, a Queen’s City roundtable, and awards for significant contributors. Karnataka aims to lead in IT, biotechnology, aerospace, and more, with flexible incentives and streamlined approvals.
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MapmyIndia’s Rohan Verma to step down as CEO, launch new B2C firm
YourStory
·
8m ago
Medial
Rohan Verma, CEO of MapmyIndia, will step down and join a new B2C company in April 2025. MapmyIndia will invest Rs 35 crore and acquire a 10% stake in the new venture. Additionally, MapmyIndia will invest Rs 3 crore to acquire a 9.37% stake in SimDaaS Autonomy, a company specializing in simulation-driven development for autonomous systems. They will also invest Rs 2 crore to acquire a 19.84% stake in Kaiinos Geo Spatial Technologies, a company developing intelligent systems for GIS companies. Both acquisitions are expected to be completed by March 2025.
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8X Ventures announces first close of Rs 200 Cr DeepTech fund
YourStory
·
1y ago
Medial
8X Ventures has successfully closed its Rs 200 crore DeepTech Fund, with an option for an additional Rs 100 crore. The fund aims to invest in 18-20 deeptech startups in the next three years, providing initial cheques ranging from Rs 2-5 crore each and total investments of up to Rs 20 crore each in selected startups. The fund focuses on sectors such as WASH, Industry 4.0, Advanced Computing, BioTech, and B2B Enterprise SaaS. 8X Ventures aims to invest in companies that introduce new technologies and demonstrate a clear strategy for commercial success.
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Flush With Fresh Funds, Nazara CEO Has His Eyes On Gaming Studios & New Geographies
Inc42
·
1y ago
Medial
Nazara Technologies, the gaming firm that recently secured INR 510 Cr in funding, is planning aggressive expansion in both organic and inorganic ways. CEO Nitish Mittersain revealed that the company aims to invest in gaming studios capable of producing top-tier games tailored for the Indian and global markets. Nazara also plans to explore investments in gaming companies outside of India to expand its presence globally. The company reported a consolidated net profit of INR 61.4 Cr in FY23 and aims to leverage AI, VR, and new technologies to enhance the gaming experience.
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World Economic Forum: Karnataka signs MoUs worth Rs 22,000 crore with seven firms
Economic Times
·
1y ago
Medial
The World Economic Forum (WEF) and the government of Karnataka have signed multiple memorandums of understanding (MoUs) worth Rs 22,000 crore ($3 billion) with various companies including Microsoft, Hitachi, and others. These collaborations aim to promote the state's economic development by leveraging technologies such as artificial intelligence (AI), cloud computing, and smart manufacturing. The MoUs were announced during the Global Investors Meet organized by the Karnataka government.
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