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News on Medial
US offers $710 million in loans for EV technology projects
Economic Times
·
1y ago
Medial
The U.S. Energy Department has granted preliminary approval for around $710 million in loans to electric vehicle (EV) technology manufacturing ventures. The larger loan commitment of $544 million goes to a unit of South Korean company SK Siltron to expand a plant in Michigan for producing high-power silicon carbide electronics for EVs. Another conditional approval of $165.9 million went to American Battery Solutions to expand their EV battery pack assembly operations in Ohio and Michigan. These loans could create around 660 jobs in total. The energy department still has significant loan capacity to support clean-energy projects.
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BluSmart raises ₹200 crore from MS Dhoni's family office, others
Internet
·
1y ago
Medial
Ride-hailing EV startup BluSmart has raised $24 million (₹200 crore) in Series B funding round led by former India cricket captain MS Dhoni's family office, ReNew Chairman Sumant Sinha and responsAbility. The fund will be used to expand operations and build EV charging infrastructure and assets, the company said. BluSmart has reportedly raised ₹710 crore so far since December 2023.
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Aditya Birla Finance to raise $150 mn in funding
VCCircle
·
4m ago
Medial
Aditya Birla Finance plans to raise $150 million to support lending in the renewable energy and e-mobility sectors in India. As a subsidiary of Aditya Birla Capital, the company offers various financial services, including project and corporate loans. This funding aims to strengthen their financial capabilities and foster growth in sustainable projects and technology adoption across the country, aligning with environmental and e-mobility advancements.
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Digital lender Fibe gets Series E cheque from TR Capital, others
VCCircle
·
1y ago
Medial
Lendingtech startup Fibe (formerly EarlySalary) has raised $90 million in Series E funding led by private equity firms TR Capital and Amara Partners, as well as venture debt firm Trifecta Capital. The funding will be used to strengthen Fibe's existing product lines and expand its reach in the Indian market. Fibe offers personal loans and impact loans, such as healthcare loans and school fee financing. The company claims to have lowered credit costs for consumers through its lending technology and risk management systems. Fibe operates in 350 cities in India and has disbursed over 6 million loans worth Rs 20,000 crore since its inception in 2015.
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Micron to get $6 billion from US govt for domestic chip factories
Livemint
·
1y ago
Medial
Micron Technology is expected to receive over $6 billion in grants from the US Commerce Department to support its domestic factory projects. The grants are part of an initiative to bring semiconductor production back to the US. Micron, the largest US maker of computer memory chips, is building factories in New York and Idaho. The award, which is yet to be finalized, could be announced as early as next week. In addition to the grants, it is uncertain whether Micron will also seek loans available through the 2022 Chips and Science Act.
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Zeta launches new stack for banks to power credit transactions on UPI
Economic Times
·
1y ago
Medial
Fintech startup Zeta has introduced a new technology stack to support credit line-based transactions on the Unified Payments Interface (UPI). The company aims to process 50% of the anticipated trillion-dollar credit disbursals on UPI by 2030. As a technology service provider, Zeta plans to collaborate with major banks to enable consumer loans, personal loans, and EMI loans on UPI. With $340 million in equity funding from investors including SoftBank and Mastercard, Zeta is on track to achieve global break-even soon. The company already powers HDFC Bank's PayZapp mobile app and has worked with lenders in the US and other countries.
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JUSTO Realfintech Bags $7 Mn To Expand Its Proptech Play
Inc42
·
11m ago
Medial
JUSTO Realfintech, a real estate technology company, has raised $7 million in a funding round. The funding includes $5 million in equity and $2 million in debt. The company plans to use the funds to fuel its growth and expand its market presence. JUSTO Realfintech offers solutions to help real estate developers boost sales growth, particularly for group housing projects. It was founded in 2019 by Pushpamitra Das and Rahul Pande.
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Startup news and updates: Daily roundup (May 26, 2025)
YourStory
·
2m ago
Medial
Groww plans to raise $700 million-$1 billion with a confidential IPO filing, while Zepto’s CEO accuses a rival CFO of a smear campaign. Address Advisors and Freshly are expanding in real estate and quick commerce sectors, respectively. Tata Motors’ EV unit posts positive EBITDA despite revenue dip. Zoho’s CEO defends Sarvam AI amid criticism. Mufin Green Finance secures $18 million for EV loans. Salesforce reports a projected 383% surge in agentic AI adoption by 2027 in India.
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EV financing no longer risky, says Shriram Finance's Umesh Revankar
Livemint
·
7m ago
Medial
Shriram Finance's executive vice-chairman, Umesh Revankar, states that electric vehicle (EV) financing is now less risky due to established manufacturers entering the space, enhancing technology reliability, and infrastructure. Shriram Finance launched a green vertical to support EVs and green projects, targeting ₹5,000 crore assets under management. Revankar emphasizes government action in public transport electrification as crucial for boosting EV adoption. The absence of a long-term strategy remains a challenge for the industry's growth.
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Edtech Scaler appoints Tapan Jindal as its Chief Financial Officer
OutlookIndia
·
1y ago
Medial
Scaler, an edtech start-up, has appointed Tapan Jindal as the chief financial officer (CFO) at InterviewBit and Scaler. Tapan will be responsible for the company's financial health and growth, focusing on corporate strategy and financial operations. With nearly 20 years of experience in the financial industry, Tapan has worked with various conglomerates and start-ups. Scaler aims to achieve profitability and strengthen its bottom line with Tapan's expertise. The company, valued at $710 million, offers upskilling programs for working professionals and aspiring engineers.
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Centre shortlists 18 proposals for R&D of EV components
Economic Times
·
3d ago
Medial
The Indian government has shortlisted 18 proposals for the research and development of electric vehicle (EV) subsystems, aiming to boost domestic manufacturing and reduce reliance on imports. The proposals, requiring technology readiness level 7 or higher, will be executed in collaboration with academia, industry, and government. Projects must be developed in consortium mode, with industry partners contributing at least 20% upfront, and will focus on components like EV wireless chargers, power trains, and traction motors.
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