Kirloskar Oil Engines wins award for energy efficiency
Kirloskar Oil Engines Limited (KOEL) – Kolhapur wins the Golden Peacock Award for Energy Efficiency for the fourth year in a row. Justice MN Venkatachaliah, national chairman at Institute of Directors and N Kalaiselvi, director ceneral – Council of Scientific and Industrial Research (CSIR) presented the award to Santosh Parab, AGM-Utilities, RE and Environment; Chandrahas Ranade, plant head and Nitin Kulkarni, manager-utilities, KOEL- Kagal plant.
Gauri Kirloskar, managing director, Kirloskar Oil Engines, said, “As an industry leader in the power generation space, we understand the importance of energy efficiency in all areas of our operations. We will continue to invest significantly in our R&D to develop products that are cleaner and more sustainable using various energy sources, at a cost and quality that are acceptable to the customer while constantly making our facilities more energy efficient.”
EarlySalary raises Series D funding of $110 million
Consumer lending fintech EarlySalary has closed its series D funding round of $110 million led by TPG’s The Rise Fund and Norwest Venture Partners. Existing investor Piramal Capital and Housing Finance Limited also participated in the round. This is EarlySalary’s largest fund raise to date, following the company’s last financing round in 2019.
Founded in Pune in 2015, EarlySalary provides accessible financial lending solutions of up to ₹5 lakh to working professionals. The company had raised $34 million in previous rounds from Eight Roads, Chiratae Ventures, Piramal Capital & Housing Finance Limited and angel investors. The series D round of $110 million includes a secondary sale. Over the course of its journey, EarlySalary expanded its services to over 150 cities and aims to continue growing its customer base.
Akshay Mehrotra, co-founder and CEO said, “The funding will help us in expanding our cash business and build an array of capabilities to efficiently serve a larger segment of customers.”
Shyam Global Technoventures sets up new manufacturing facility
Shyam Global Techno Ventures (SGTPL) expanded its operations by setting up a new state-of-the-art manufacturing facility in Pune for manufacturing gensets.
Narendra Goyal, president, SGTPL said, “The demand for Chalkar Genset is set to increase which will benefit both citizens and businesses alike. As one of the largest OEMs of Mahindra Powerol, Shyam Global’s gensets have been continuously developing and expanding rapidly and they will continue to serve customers in various sectors in the future as well.” Mahendra Powerol is mostly used in construction, hospital, industry school, petrol pump, telecom, crushing industry, etc.
Vidcare Technologies raises USD 300K in pre-seed round led by Social Alpha
Vidcare Technologies has raised US $300K in a pre-seed round led by Social Alpha, with participation from Lavni Ventures and Derbi Foundation. The funds will be used to further product development, clinical testing, real world effectiveness and early commercialisation. Vidcare, the 2019 winner of The India Innovation Growth Programme (IIGP), has developed the revolutionary, patented Mu-sure technology – a lab-on-a-chip platform, an alternative for conventional methods that use laborious operations and bulky devices to make diagnostic testing convenient, accessible and available. Rohan Aggarwal, founder, said, “This new round of funding will be used to complete product development and commercialisation post regulatory approvals, in addition to working on additional applications on this technology.”
Piaggio vehicles awarded by Switch Delhi EV Campaign
Piaggio vehicles was lauded by the Switch Delhi EV Campaign as the OEM with the highest number of electric three-wheeler sales in the L5 category for delivering more than 1,100 electric vehicle units for the campaign in Delhi.
The Government of Delhi had launched the Switch Delhi EV Campaign to inform, encourage and motivate the citizens of Delhi to switch from conventional vehicles to electric vehicles. Diego Graffi, chairman and MD, Piaggio vehicles said, “We are excited to receive this coveted award from the Government of Delhi and be a reliable partner in their endeavour to motivate the citizens of Delhi to transition to electric vehicles.”