Drone maker Raphe mPhibr secures $100 mn to expand aircraft design &manufacturing in India
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Indian drone startup Raphe mPhibr on Thursday announced that it has raised $100 million in a round led by General Catalyst, with participation from existing investors, including Amal Parikh, Think Investments, and other prominent high-net-worth family offices. This is the largest round of private funding raised by an Indian company in this industry to date and takes Raphe mPhibr's total capital raised to $145 million.'We are proud to join forces with Raphe mPhibr on their transformative journey to redefine engineering-led manufacturing across a spectrum of critical applications,' said Neeraj Arora, Managing Director at General Catalyst.'What sets this team apart is their unwavering, mission- driven ethos, coupled with an expansive vision and formidable technological depth. The products emerging from Raphe mPhibr are already making a tangible impact on the ground, signalling what we believe will be a monumental shift. Their work is not only accelerating India's path to strategic self-reliance but also embodies the essence of our Global Resilience thesis at General Catalyst—building for a future that is secure, sovereign, and sustainable.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
32 minutes ago
- Business Standard
Startups use AI, omnichannel push to expand globally, reach deeper locally
As India's startup sector enters a new phase of growth, a wave of emerging companies is turning to artificial intelligence, omnichannel distribution and the creator economy to reach smaller domestic markets and expand globally. To mark World MSME Day, Meta has released a report commissioned from consulting firm Alvarez & Marsal India. The study draws on insights from interviews with 100 high-growth startups across the country. It identifies six key levers expected to shape the next chapter of Indian entrepreneurship. These include AI adoption, cross-border expansion, omnichannel strategies, deeper reach into Tier 2 and Tier 3 cities, category diversification and creator-led brand building. 'In today's dynamic times, startups that think smart and act fast to evolve will lead the charge,' said Sandhya Devanathan, Vice-President, India and South East Asia, Meta. 'At Meta, we're proud to be partners in this journey, equipping startups with cutting-edge AI-powered tools to help them scale and turn their bold ideas into impact.' Himanshu Bajaj, Managing Director and Head – Alvarez & Marsal India and GCC, noted that he is seeing a significant shift in how Indian startups think about scale — not just for pursuing growth but building more sustainable businesses that focus on value creation. 'AI, tiered expansion and omnichannel models are no longer future bets — they're foundational to execution today,' said Bajaj. 'What stands out is how early-stage startups are applying these levers with surprising sophistication.' Over 70 per cent of startups are now integrating AI across core business functions. 'We leveraged these cutting-edge tools to optimise our marketing campaigns, and the results have been nothing short of phenomenal,' said Shrawan Daga, Founder, Krishna's Herbal & Ayurveda. About 67 per cent of small firms have adopted omnichannel models to address modern customer journeys that span online discovery and offline purchase. 'Attributing online spends to walk-ins and offline conversions is the most critical aspect to driving an efficient omnichannel business while continuing to use digital as the primary advertising channel,' said Ayushi Gudwani, Founder, FS Life. The report said nearly all startups are expanding into Tier 2 and 3 markets to cater to high demand and existing supply gaps. 'India's next billion consumers are not waiting to catch up — they're leapfrogging,' said Swagat Sarangi, Co-founder, Smytten. 'In Tier 2 and 3 markets, relevance isn't about scaling down your offering, it's about showing up with empathy, accessibility and trust.' About 52 per cent of small firms are expanding cross-border, tapping into large addressable markets and global demand for Indian-origin products. The United States, the UAE and the United Kingdom emerged as the top export markets. 'We've successfully expanded our global footprint, achieving a remarkable 30 per cent higher ROI in new markets,' said Aakriti Rawal, Co-founder, House of Chikankari. According to the report, 84 per cent of startups have diversified beyond their core offerings. They are leveraging synergies across product lines, customer cohorts and distribution channels. 'As Noise expands globally and enters new categories, our focus is on building performance-oriented smart tech that takes the 'Make in India' story to the world,' said Gaurav Khatri, Co-founder and CEO, Noise. The report also finds that 88 per cent of brands now partner with creators — including niche influencers and celebrities — to build community-led storytelling. 'Working with creators allows us to tell real, relatable stories that build trust and emotional resonance,' said Suramya Jain, Co-founder, RAS.
United News of India
35 minutes ago
- United News of India
Dr. Jyotsna Suri Leading India's Tourism Renaissance on the Global Stage
New Delhi [India], June 24: Dr. Jyotsna Suri, Chairperson and Managing Director of The LaLiT Suri Hospitality Group, offers her expert perspective on the evolving trends shaping India's travel and hospitality landscape. As international tourist arrivals continue to fall short of expectations, Dr. Suri calls for a bold new approach to how India presents itself on the world stage, emphasizing the need for innovative marketing, infrastructure improvements, and the creation of new destinations to truly unlock the country's tourism potential. While India's domestic tourism scene is bustling, international tourism hasn't quite bounced back as strongly as many had hoped. Even as the world's overall tourism numbers recover, India is still seeing fewer foreign visitors compared to the pre-pandemic era. In 2023, for example, only about 9.5 million foreign tourists arrived in India—a figure that remains over 10% below the nearly 11 million recorded in 2019, according to Skift. The trend hasn't improved much by mid-2024, with just 4.8 million foreign arrivals in the first six months. When Dr. Jyotsna Suri speaks about the future of India's tourism sector, one thing stands out above all: the urgent need to put India on the global map through bold and consistent marketing. She points out that, despite the country's incredible diversity and rich experiences, India simply isn't being marketed as aggressively as it should be. 'Right now, we are not being marketed at all,' she says, stressing that a well-funded, ministry-led campaign could quickly change the narrative and attract a wider range of international visitors. While progress on infrastructure upgrades is encouraging, Dr. Suri admits it will take time before India's facilities truly match world-class standards; still, she is heartened by the direction things are moving and the ongoing investments being made. She also highlights the importance of developing new destinations, not just for drawing in foreign tourists but for giving domestic travellers fresh places to explore. Many existing spots remain underutilised, and new attractions could help spread out the crowds and ease pressure on popular sites. When it comes to competing with neighbours like Thailand and Indonesia, Dr. Jyotsna Suri acknowledges that India might be a bit pricier in some areas, especially with GST factored in, but she firmly believes the country delivers outstanding value for money—something that discerning travellers appreciate. A shift is happening, where the focus is moving from attracting backpackers to courting higher-spending, quality tourists who are looking for unique and enriching experiences. The Indian government has launched several key initiatives to attract more international tourists, focusing on developing 50 major destinations to enhance infrastructure and provide a better visitor experience. Visa reforms, including streamlined e-visa processes and fee waivers for select travellers, are making it easier for tourists to visit India. Additionally, programs promoting spiritual, heritage, and medical tourism highlight the country's unique cultural and wellness offerings. Efforts to improve regional connectivity through schemes like UDAN are opening up access to lesser-known destinations, making India more accessible overall. Dr. Jyotsna Suri praised the combined efforts of the central and state governments, including leadership from the Prime Minister, Home Minister, and Chief Ministers, for their commitment to revitalising tourism. 'It will happen soon. It'll take time, but it will happen,' she said, expressing optimism about the future and India's potential to emerge as a top global destination. With the right strategies and sustained effort, India can not only compete with its neighbours but also emerge as a leading global destination for all types of travellers.
The Hindu
40 minutes ago
- The Hindu
Bangladesh pays $384 million to Adani Power to clear majority of dues
Bangladesh paid $384 million to Adani Power in June, significantly reducing its outstanding dues under a power supply agreement with the Indian firm, according to sources. In June (till June 27), Bangladesh has paid $384 million of the committed $437 million to be paid during the month, two sources aware of the matter said. This would clear Bangladesh's "admitted" claims till March 31. With this, Adani's "claimed" dues, while still substantial, will come down to around $500 million (assuming Bangladesh meets its month-end commitment), they said. Bangladesh has struggled to meet its payment obligations under the 2017 deal, as rising import costs following the Russia-Ukraine conflict in 2022 and domestic political turmoil - which led to the ouster of prime minister Sheikh Hasina — strained the country's finances. As a result, Adani had halved supply last year and full supplies were resumed in March 2025 after the country's monthly payments started covering some of the dues. Nearly $1.5 billion paid With the latest payments, Bangladesh has paid nearly $1.5 billion of the roughly $2 billion total billed amount. Adani has reportedly agreed to waive late payment surcharge (LPS) for January-June period, amounting to about $20 million, if Bangladesh keeps its payment commitment. Sources said both parties are engaged in discussion to resolve some issues related to coal cost and plant capacity calculations. These are the key reasons behind the difference between "claimed" and "admitted" dues. When contacted, an Adani Power spokesperson confirmed the payments but didn't share details on "claimed" and "agreed" dues stating these discussions are private. The 2017 power supply deal between Adani Power and Bangladesh had come in for scrutiny after the ouster of the Sheikh Hasina-led government last year. Interim government, led by Nobel Peace prize laureate Muhammad Yunus, called for the formation of a high-level committee, comprising energy and legal experts, to re-examine the power purchase agreement (PPA). Under the 2017 deal, Adani Power's Godda power plant in Jharkhand was to supply 100 per cent of the electricity generated from burning coal, to Bangladesh for a period of 25 years. After payment defaults, Adani had cut supplies by half in November 2024. It restored full electricity supply, which is around 1,600 MW, in March after the country reduced liabilities. Bangladesh stepped up repayments from July last year, clearing monthly dues. This came after the country suffered from increased power shortages in rural areas. Struggling economy Bangladesh has been struggling to generate sufficient dollar revenues to cover the cost of essential imports such as electricity, coal, and oil. Its foreign currency reserves declined amid months of student-led protests and political unrest, which culminated in the ousting of the Sheikh Hasina government in August 2024. The interim government that succeeded her sought an additional $3 billion loan from the International Monetary Fund (IMF) on top of the existing $4.7 billion bailout package. Adani's power deal with Bangladesh was one of the many under Sheikh Hasina, which the current interim government has called opaque. Besides Adani Power, other Indian state-owned firms also sell power to Bangladesh, including NTPC and PTC India Ltd.
