Porter Raises $200 Million, Valuation Hits $1.2 Billion
Logistics startup Porter has raised $200 Mn in a Series F funding round led by Kedaara Capital and Wellington Management, valuing the company at approximately $1.2 Bn. The round included both primary investment and secondary share exits by existing investors.Founded in 2014, Porter plans to utilise this capital to expand into new cities, build its team, and advance its technology. The company aims to serve Mns of micro, small and medium enterprises (MSMEs) and offer opportunities to over one Mn gig workers.Porter had entered the unicorn club in its previous funding round. Now marking ten years..
HCL-Foxconn to invest Rs 37 billion in chip plant near Jewar airport
The Union Cabinet has approved the establishment of a new semiconductor unit near Jewar airport in Uttar Pradesh under the India Semiconductor Mission. This sixth plant, a joint venture between HCL and Foxconn, marks further progress in India’s semiconductor journey. The project will see an investment of Rs 37 billion.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other digital devices. It is designed for a monthly capacity of 20,000 wafers and an output of 36 million units.Five semiconductor units are already in advanced stages of constructi..
Brigade acquires Velachery land for Rs 16-billion project
Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.The project offers strategic access to both the OMR IT Corridor and Chennai’s Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functional..
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