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News on Medial
Can This Chennai Startup Finally End Manual Scavenging In India?
Inc42
·
11m ago
Medial
Solinas Intelligences, a startup co-founded by Moinak Banerjee, Divanshu Kumar, and Bhavesh Narayani, has developed India's first robot for septic tank and manhole cleaning. The startup also offers a pipeline inspection crawler and has three patented technologies: Endobot for sewer and water management, HomoSEP for septic tanks and manholes, and Swasth AI. Solinas works with various government departments and serves private sector companies like Suez, Veolia, Volvo, Hyundai, and Mahindra.
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Solinas Bags Funding To Provide Water Conservation, Sanitation Solutions
Inc42
·
1y ago
Medial
Solinas Integrity, a climate tech startup, has recently secured an undisclosed amount of funding from SBICAP Ventures' Neev Fund II and Zerodha's Rainmatter Capital. The company, founded in 2018, provides robotics and artificial intelligence solutions for detecting water leakages and eliminating manual scavenging in the water pipeline and sanitation industry. The funding will be utilized to enhance water pipeline and sanitation infrastructure, contributing to climate change adaptation and sustainability efforts.
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IIT Prof's Amber Wings develops indigenous agri-drone, prototyping India's largest drone
Economic Times
·
9m ago
Medial
Chennai-based startup Amber Wings has developed an agricultural drone called 'Vihaa,' and is set to release an indigenous version with a 20-kg payload. The startup is also prototyping a larger drone with a 50-kg payload. They aim to cater to various markets, including defence and civilian, and reduce reliance on Chinese suppliers. The Vihaa drone can spray crops more efficiently than manual methods. Amber Wings is collaborating with the Directorate General of Civil Aviation to develop tracking systems for commercial drone use in yellow and green zones. They also aim to enable efficient delivery for e-commerce companies.
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SBI plans to enhance threshold limit under instant loan scheme for MSME sector
YourStory
·
9m ago
Medial
The State Bank of India (SBI) plans to increase the threshold for its instant loan scheme for the MSME sector. The scheme, called 'MSME Sahaj - End to End Digital Invoice Financing', aims to provide quick and easy credit to small businesses. Through this scheme, borrowers can apply for a loan, complete documentation, and receive the sanctioned amount within 15 minutes, with minimal manual intervention. SBI Chairman C S Setty stated that the bank aims to simplify MSME credit and enable more businesses to enter the formal borrowing system by reducing collateral requirements. Additionally, SBI plans to open 600 branches across the country this fiscal year.
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WeWork India expands in Bengaluru with new 1.10 lakh sq ft centre
YourStory
·
8m ago
Medial
Co-working company WeWork India has opened a new centre in Bengaluru, adding 110,000 square feet of office space to its portfolio. This expansion brings the company's operational capacity to more than 100,000 desks across 62 locations in eight Indian cities. WeWork India plans to open two more centres in Gurugram and Chennai in the near future, with over 1,400 desks in Gurugram and 1,900 desks in Chennai. The Indian flexible office market is projected to exceed 100 million square feet by the end of 2026, according to real estate consultant Vestian.
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VinFast opens largest showroom in Chennai; plans 35 outlets across India by year-end - The Economic Times
Economic Times
·
5d ago
Medial
VinFast Auto India, a subsidiary of Vietnam-based VinFast, inaugurated its largest showroom in Chennai, marking its first dealership in Tamil Nadu and second in India after Surat, Gujarat. The 4,700 sq ft facility is part of VinFast's plan to establish 35 showrooms across 27 Indian cities by year-end. The Chennai showroom will feature VinFast's premium electric SUVs, the VF 6 and VF 7, as the company expands its electric vehicle offerings in India.
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Budget Hotel Chain FabHotels Adds Over 100 Premium Hotels
OutlookIndia
·
2y ago
Medial
FabHotels, an e-commerce startup, has expanded its offerings by incorporating more than 100 high-end hotels, ensuring a budget-friendly yet luxurious lodging experience. This move reflects FabHotels' commitment to enhancing affordable luxury in the hospitality sector through its growing selection of premium accommodations. It has added properties in cities like New Delhi, Chennai, Pune, Hyderabad, Bangalore and Mumbai
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Tiger Global-backed Wiz Freight raises $11.24 million in Series B
Entrackr
·
1y ago
Medial
Chennai-based supply chain startup Wiz Freight has raised $11.24 million in a Series B funding round led by SBI Investments. Other investors include Tiger Global, Nippon Express Fund, and Axilor Technologies Fund. Wiz Freight plans to utilize the funds for growth, expansion, and general corporate activities. The company, which offers end-to-end shipment management solutions, saw a significant increase in revenue and turned profitable in FY22. This latest round brings the total funding raised by Wiz Freight to over $50 million.
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Priyank Kharge, Tejasvi Surya among leaders to cheer news of US Consulate in Bengaluru
Economic Times
·
7m ago
Medial
Bengaluru, India's IT capital, will finally have a US consulate office starting in January 2025. This announcement has been well-received by locals, including government officials and representatives. Bengaluru, which contributes 40% of India's IT revenue, previously required residents to travel to Chennai or Hyderabad for visa-related matters. The establishment of the consulate will strengthen ties between India and the US, foster diplomatic collaborations, and boost the state's economic prowess. The opening of the consulate has been a long-standing demand, and its realization is considered a milestone moment for Bengaluru.
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Coliving startup Settl to enter Chennai market; to add 1,000 beds by March
Economic Times
·
1y ago
Medial
Coliving startup Settl is expanding its operations to the Chennai market, with plans to launch 300 beds for working professionals. Settl currently manages over 3,500 beds in Bengaluru, Gurugram, and Hyderabad. The company offers fully managed rental accommodations at prices ranging from Rs 11,000 to Rs 24,000 per month per bed. Settl has identified potential buildings in Chennai for its expansion and aims to scale up to 1,000 beds by the end of the fiscal year.
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Warburg set for over $1.1 bn India exit as conviction finally pays off
VCCircle
·
11m ago
Medial
Private equity firm Warburg Pincus is set to exit India in a deal worth over $1.1 billion, marking a successful end to its investment in the country. The firm has recently made several deals in India and has finally reaped the rewards of its consumer-facing portfolio. Warburg Pincus has sold its stake in a number of Indian companies, demonstrating its strong conviction in the market.
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