INDIA > Germany based Siemens commissioned to electrify a 39.2 km metro line in the Indian metropolis Ahmedabad in a project worth more than €76 million ($94.3 million)

Siemens logo1 Metro Link Express for Gandhinagar and Ahmedabad (MEGA) has commissioned Siemens for electrifying a 39.2 km metro line worth more than €76 million ($94.3 million). Currently under construction, the metro line will run in Ahmedabad city in two corridors, East- West and North- South. The complete electrification of the new double- track metro line will be Siemens responsibility and the More …

INDIA > Asian Development Bank (ADB) approves funding for the Second Rural Connectivity Investment Program totaling $500 million in India

Adb logo To improve rural roads in five Indian states, ADB approves a multitranche financing facility (MFF) for the Second Rural Connectivity Investment Program. The investment program is set to construct and upgrade over 12,000 kilometers of rural roads in five Indian states of Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal. The program builds on the first Rural connectivity investment program More …

INDIA > InterContinental Hotels Group (IHG) has partnered with SAMHI to rebrand 2000 rooms of SAMHI hotels to Holiday Inn Express Hotels

Holiday inn logo IHG and SAMHI have partnered to rebrand 2,000 of SAMHI rooms to Holiday Inn Express hotels. The newly signed portfolio comprises 14 hotels, including ten open hotels in Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, and Mumbai. Additional four hotels are in construction and the signing will set IHG hotel to 41 hotels positioning IHG as the largest player in More …

INDIA > Carlson Rezidor Hotel Group enters Mumbai, India with upscale hotel brand Radisson

Carlson Rezidor logo One of the world’s largest hotel groups, Carlson Rezidor Hotel Group, is introducing Radisson hotel in Mumbai signing a 112-key hotel in Andheri suburb in partnership with GHV Hospitality India Private limited in which the Carlson Rezidor Hotel Group will be responsible for the management and GHV Hospitality India Private Limited for its development. Located in one of the prominent More …

INDIA > PolicyBazaar raises funds from Wellington Management, True North and IDG Ventures.

policy bazaar logo EtechAces Marketing and Consulting, owners and operators of online insurance policy aggregator PolicyBazaar, has raised funds from Wellington Management, private equity firm True North and IDG Ventures India. The Gurgaon based company is valued around $500 million was founded in 2008 by IIT Delhi and IIM Ahmedabad alum Yashish Dahiya and has raised about Rs 1000 crore($154.8 million) till date. More …

INDIA > US based WRV Capital raises Rs. 120 crore ($18.4 million) for Tonbo Imaging

tonbo-4 Tonbo Imaging, a startup that has partnered with the Indian military and has been valued north of Rs. 400 crore ($ 62 million), has raised Rs 120 crore ($18.4 million)  in series –B funding led by WRV Capital along with Qualcomm Ventures and Edelweiss Private Equity. Tonbo Imaging has annual revenue of more than Rs 100 crore ($15.3 million), was More …

ITALY > India based Roha acquires Italy based New Foods S.p.A

roha Roha is set to acquire New Foods Industry S.p.A in Verona, Italy to position themselves in the color sector with synergistic innovative ingredients as New Foods Industry is considered as an expert in dry ingredients for the food and beverage industry. Roha and New Foods merger makes sense because of their similar business philosophies and complementary business segments. According to More …

INDIA > Global Credit rating agency Experian has invested $30 million in financial products marketplace BankBazaar

Bankbazaar logo Experian joins investors such as Amazon, Sequoia, Eight Roads (Fidelity Growth Partners), and Walden International as investors investing $30 million in a Series D round led by Experian which brings the total funding to $110 million for BankBazaar. Experian and BankBazaar tied up earlier this year offering free credit scores to customers and according to CEO Adhil Shetty the new More …