Israel’s OurCrowd bullish on India story; ties up with RIL, Yes Bank
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City-based equity crowdfunding platform OurCrowd has tied up with Reliance Industries, Reliance Private Client, Yes Bank and Let’s Venture to cash in on India’s burgeoning fintech ecosystem, OurCrowd chief executive officer Jon Medved said. “We think that India is highly under-invested and it’s going to be an explosive market over the next couple of decades,” Medved said. OurCrowd enables start-ups to connect with prospective investors and is currently distributing its products to high-networth clients of Reliance Private Client. The partnership with Reliance Industries entails the setting up of a high-tech incubator in Jerusalem to foster companies working with technologies such as artificial intelligence and machine learning.
As part of the tie-up with Yes Bank, there will be an accelerator programme for fintech start-ups and an opportunity for such ventures in India and Israel to access each other’s markets. OurCrowd also participated in the early rounds of Bengaluru-based self-drive car rental company ZoomCar. The platform has a community of about 20,000 investors from over 112 countries. Since launch in 2013, it has raised over $440 million and invested in 120 portfolio companies and funds.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
"What happens is, when you win the election, EVMs (electronic voting machine) are not tampered. When you lose the election, EVMs are tampered (with)," remarked a bench of Justices Vikram Nath and P B Varale.
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The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
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Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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