Coal news and updates

Business models changing fast, says Coal India MD

Vijayawada: Chairman and MD of Coal India PM Prasad stated that business models are fast changing challenging companies to adapt to new business models.

He was the chief guest at the valedictory of the AP Chambers Business Expo which concluded on the third day on Sunday.

AP Chambers has a vital role to play for facilitation of adoption of ne w business models.

Also Read - Indian startups raise $145 mn in funding in a week

About 150 exhibitors representing sectors such as infrastructure, food processing, real estate and construction, automobiles, tourism and hospitality, handicrafts and others participated in the Business Expo. Companies from across the country also participated. The Expo witnessed more than 20,000 footfalls.

On the final day of the Business Expo, AP Chambers on Sunday organised a session on Real Estate and Construction. AVR Chowdary, Founder and Chairman of GNC Global Consortium, chaired the session. YV Ramana Rao, president of CREDAI AP, Y Venkatesh, CEO of KMV Spaces and others participated in the panel discussion.

Also Read - Our corporate landscape needs to be inclusive to achieve Viksit Bharat

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Later, the Chambers conducted a session on Renewable Energy. B Phani Chandra, CEO of Eshaan Energy chaired the panel discussion. D Venkateswarlu, State Head (Business Development), Tata Power Solar, Prashanth Nimmana, CEO of Sinduni Projects, P Koti Rao, MD of Tirumala Hydel Power, Koduru Srinivas, Consultant Technical of NREDCAP and others took part in the panel discussion.

Dhulipalla Narendra Kumar visited the Business Expo and appreciated AP Chambers for organising the Business Expo on a large scale. He presented awards to the best exhibitors and handed over certificates to college students who participated as volunteers in the Business Expo.

AP Chambers president Potluri Bhakara Rao and general secretary B Raja Sekhar thanked all the sponsors and exhibitors who participated in the Business Expo.

The domestic startup ecosystem raised more than $145 million, as investor confidence is reviving in the country regarding VC funding.

New Delhi: The domestic startup ecosystem raised more than $145 million, as investor confidence is reviving in the country regarding VC funding.

The publicly-listed gaming firm Nazara raised $101.3 million via a preferential share issue, led by investors like SBI Mutual Fund, Caratlane founder Mithun Sacheti, and Aamara Capital. ShopDeck, a direct-to-consumer (D2C) e-commerce enabler, raised $8 million in funding led by Bessemer Venture Partners with participation from Elevation Capital, Venture Highway, and Chiratae Ventures.

ShopDeck empowers sellers across categories, including clothing, jewellery, footwear, and home decor, driving over $150 million in annual sales. MSME-focused digital lender NeoGrowth raised up to Rs 42 crore (nearly $5 million) in debt funding from UTI International Wealth Creator. Elchemy, a tech-driven cross-border speciality chemical distribution platform, secured a $5.6 million Series A funding round. The round was led by Prime Venture Partners, along with participation from existing investor InfoEdge Ventures.

Ukhi, a pioneering biomaterials startup, secured $1.2 million in pre-seed funding to accelerate its mission to develop novel, biodegradable, and compostable biomaterials aimed at transforming the sustainable packaging industry.

A total of 984 venture capital (VC) funding deals were announced in India during January-October 2024, which was a year-on-year (YoY) improvement of 5.8 per cent in deal volume. The total disclosed funding value of these deals jumped by 44.4 per cent YoY to $9.2 billion during the same period, according to GlobalData, a leading data and analytics company.

Investor confidence seems to be reviving as India demonstrates significant improvement in VC funding activity during the year compared to peer countries, the report mentioned.

India accounted for 7.1 per cent share of the total number of VC deals announced globally during January-October 2024.