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Shell gives go-ahead to USD 2.5 billion Crux gas project near Australia
The construction is scheduled to begin in 2023 while the first gas is expected to be produced by 2027. Shell believes the new gas project would aid its Asian customers' move to gas from coal. Multinational oil and gas company Shell plc has reportedly given a green light to develop the ... Read More
Tesla EVs can now measure battery percentage based on weather elements
Tesla Inc. has reportedly released an upgrade to its software which can now consider temperature, headwind, crosswind, and humidity when calculating the vehicles’ battery percentage after reaching the destination. The measurement is an addition to current factors including HVAC, predicted s... Read More
Vedanta to confirm USD 20 Bn semiconductor plant in India by mid-June
Vedanta Limited, an oil and gas conglomerate, is reportedly planning to finalize a location for its USD 20 billion semiconductor production facility in India by mid-June. Notably, this USD 20 billion investment is for the development of two distinct units – the chip and the display. Moreove... Read More
Mexico’s Nowports tops USD 1.1 Bn valuation after Softbank-led funding
Mexico-based logistics startup Nowports has reportedly attained Unicorn status after securing USD 150 million in a Series C funding round that was spearheaded by SoftBank’s Latin America fund. The latest fundraising took the company’s valuation to USD 1.1 billion. The round also saw p... Read More
Zoom increases full-year profit forecast over strong enterprise demand
Zoom Video Communications has reportedly increased its full-year adjusted profit prediction on account of strong demand from large organizations in a hybrid workplace. Zoom’s shares witnessed a 15% hike in extended trading following the recent development. The company claims that the return... Read More
Wakefit reports USD 82 million in revenues, marking a 50% y-o-y growth
For the financial year ending March 2022, the sleep solutions startup Wakefit reported revenue of nearly USD 82 million, which is a 50% increase from the previous year. It aims to reach a revenue of approximately USD 128 million in the next fiscal year. The company's revenue growth was mainly... Read More
Healthtech firm MFine fires over 500 staff people amid funding crises
MFine, a Bengaluru-based health tech firm has reportedly cut off nearly 500 people due to a financial shortage. The company which is operated by Novacure Health Tech Service and is backed by Stellaris and Beenext employs around 1000 people and has laid off staff from the engineering, data science, a... Read More
D2C women’s apparel brand BlissClub bags USD 15 Mn in latest funding
BlissClub, an activewear firm for women, has reportedly raised USD 15 million in the latest funding round. The fundraising was spearheaded by Elevation Capital and Eight Road Ventures. The round also saw participation from some notable angel investors such as Mamaearth cofounder Ghazal Alagh, Sho... Read More
SpaceX likely to be highest valued startup in U.S. at USD 125 billion
In an ongoing secondary market share sale, billionaire Elon Musk's spacecraft engineering company SpaceX is expected to be the highest valued U.S. company, with a valuation of over USD 125 billion. The shares, which are currently worth around USD 72, have increased in value since last October... Read More
B2B flatform Fashinza secures USD 100 Mn in Series B funding round
Fashinza, a real-time global supply chain for fashion companies and retailers, has reportedly raised USD 100 million in a Series B funding round that was spearheaded by Westbridge, and Prosus Ventures (Naspers Ventures). The latest fundraising that includes both equity and debt investment saw par... Read More