Latest news with #BritishInternationalInvestment
Time of India
27-05-2025
- Business
- Time of India
British International Investment seeks CCI nod to acquire stake in ReNew Photovoltaics
British International Investment has sought fair trade regulator CCI's clearance to acquire a stake in solar manufacturing firm Renew Photovoltaics . British International Investment (BII) is a development finance institution wholly owned by the UK Government. "The combination relates to an investment by the acquirer (British International Investment) in the target (ReNew Photovoltaics Pvt Ltd) through subscription to securities of the target," a notice filed with the Competition Commission of India (CCI) said on May 21. Renew Photovoltaics is engaged in the manufacturing of solar modules and cells in India. The parties have clarified that there are no direct horizontal or vertical overlaps between their respective businesses in India. However, some of BII's portfolio companies are active in the solar energy sector in the country. The parties have submitted that the proposed combination will not result in any appreciable adverse effect on competition in India. To assist the CCI in its review of the proposed combination, the parties said the relevant markets could include the upstream segment for the manufacturing of solar modules and solar cells and the downstream segment for the generation and transmission of solar power in India. Earlier this month, ReNew Energy Global Plc announced that it has secured an investment of Rs 870 crore (around USD 100 million) from British International Investment to accelerate the growth of its solar manufacturing business in India. The investment will be made in ReNew Photovoltaics, the company's dedicated solar manufacturing subsidiary in India. Established in 2021, ReNew Photovoltaics comprises an operational 6.4 GW solar PV module facility and a 2.5 GW solar cell facility, located in Jaipur, Rajasthan, and Dholera, Gujarat. BII's investment will be primarily utilised to grow the business and expand the company's manufacturing capacity through the construction of a new 4 GW TOPCon cell facility in Dholera, Gujarat. Post-expansion, ReNew's total manufacturing capacity will be approximately 6.4 GW of modules and 6.4 GW of cells.
Time of India
27-05-2025
- Business
- Time of India
British International Investment seeks CCI nod to acquire stake in ReNew Photovoltaics
British International Investment has sought fair trade regulator CCI's clearance to acquire a stake in solar manufacturing firm Renew Photovoltaics . British International Investment (BII) is a development finance institution wholly owned by the UK Government. "The combination relates to an investment by the acquirer (British International Investment) in the target (ReNew Photovoltaics Pvt Ltd) through subscription to securities of the target," a notice filed with the Competition Commission of India (CCI) said on May 21. Renew Photovoltaics is engaged in the manufacturing of solar modules and cells in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Baca Undo The parties have clarified that there are no direct horizontal or vertical overlaps between their respective businesses in India. However, some of BII's portfolio companies are active in the solar energy sector in the country. The parties have submitted that the proposed combination will not result in any appreciable adverse effect on competition in India. Live Events To assist the CCI in its review of the proposed combination, the parties said the relevant markets could include the upstream segment for the manufacturing of solar modules and solar cells and the downstream segment for the generation and transmission of solar power in India. Earlier this month, ReNew Energy Global Plc announced that it has secured an investment of Rs 870 crore (around USD 100 million) from British International Investment to accelerate the growth of its solar manufacturing business in India. The investment will be made in ReNew Photovoltaics, the company's dedicated solar manufacturing subsidiary in India. Established in 2021, ReNew Photovoltaics comprises an operational 6.4 GW solar PV module facility and a 2.5 GW solar cell facility, located in Jaipur, Rajasthan, and Dholera, Gujarat. BII's investment will be primarily utilised to grow the business and expand the company's manufacturing capacity through the construction of a new 4 GW TOPCon cell facility in Dholera, Gujarat. Post-expansion, ReNew's total manufacturing capacity will be approximately 6.4 GW of modules and 6.4 GW of cells.
Time of India
20-05-2025
- Business
- Time of India
Health-tech startup CureBay raises $21 million in round led by Bertelsmann India
Tech-first hybrid healthcare platform, CureBay, has raised $21 million in a new round of funding, which was led by Bertelsmann India Investments. The round also saw British International Investment (BII) and existing investor Elevar Equity participate. Launched in 2021, CureBay is an Odisha-based company that aims to provide affordable healthcare services to rural India. Using the funds, it plans to expand its footprint to states like Jharkhand, Bihar, Uttar Pradesh and Madhya Pradesh. Currently, it has a network of over 150 e-clinics across Odisha and Chhattisgarh. 'The latest capital infusion will be deployed to strengthen CureBay's in-house, proprietary technology stack and expansion across India, while building the right teams to drive its next phase of growth,' the company said in a statement. Besides, the company will invest in artificial intelligence (AI) and data capabilities for predictive care. 'With an active network of 150+ eClinics and 1,000+ Swasthya Mitras, we are solving for Bharat, where a large part of the population still lacks access to dependable care. The capital will help us scale technology, talent, and reach to bring dignified, affordable healthcare to the last mile,' said Priyadarshi Mohapatra, founder and CEO of CureBay, in the statement. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories CureBay's e-clinics are satellite clinics located in remote rural locations. These are designed to be asset-light and assistant health care. These clinics have a pharmacist and nurse, along with a few medical devices and point-of-care tests. 'Broadly, (it takes) about Rs 8.5 lakh to set up a clinic. A cluster of 50 clinics will break even in about 18-20 months. Currently, out of the three clusters that we operate in Odisha, two have broken even,' Mohapatra told ET. CureBay operates on a hybrid model, which has been implemented across 32 districts in Odisha and Chhattisgarh and has served over 5.5 lakh patients since inception. 'We're excited to partner with CureBay as it builds a differentiated, ecosystem-driven approach to rural healthcare in India,' said Pankaj Makkar, managing director of Bertelsmann India Investments, in the statement.
Economic Times
19-05-2025
- Automotive
- Economic Times
Euler Motors raises Rs 638 cr in funding round led by Hero MotoCorp
Mumbai: Electric commercial vehicle startup Euler Motors on Monday announced that it has raised Rs 638 crore in a Series D funding round led by Hero MotoCorp. The round also saw participation from existing investor British International Investment (BII), the UK's development finance institution, Euler Motors said in a statement. With this round, Euler Motors has, so far, raised approximately Rs 1,420 crore in various funding rounds, it added. This fresh capital infusion will be utilised in expanding the company's sales and service network while advancing new product development, the statement said. Euler Motors said it has secured investment amid rapidly scaling operations and strengthening of leadership in the commercial EV segment. The company has seen strong adoption across the e-commerce, retail and logistics segments, backed by a growing portfolio, comprising the electric three-wheeler high-HiLoad EV and the recently launched four-wheeler LCV StormEV. "We welcome Hero MotoCorp as a strategic investor in Euler Motors. This is a strong vote of confidence both in India's commercial electric mobility future and in Euler Motors' execution and products," Euler Motors founder and CEO Saurav Kumar said. With this fresh capital and strategic backing from new and existing investors, the company is set to accelerate its scale and continue innovating to deliver superior products, he added. "As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility," said Pawan Munjal, Executive Chairman, Hero MotoCorp. Founded in 2018, Euler Motors investors include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund. "...Since our initial investment in 2023, Euler Motors has advanced e-mobility adoption and created better jobs. This aligns closely with our ambition to support India's net-zero emissions target and enables us to drive scalable impact in a sector vital to both economic growth and environmental progress," said Abhinav Sinha, Managing Director and Head of Technology, Telecoms and Sustainable Industrials at British International Investment.
Time of India
19-05-2025
- Automotive
- Time of India
Euler Motors raises Rs 638 cr in funding round led by Hero MotoCorp
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Electric commercial vehicle startup Euler Motors on Monday announced that it has raised Rs 638 crore in a Series D funding round led by Hero MotoCorp . The round also saw participation from existing investor British International Investment (BII), the UK's development finance institution, Euler Motors said in a this round, Euler Motors has, so far, raised approximately Rs 1,420 crore in various funding rounds, it fresh capital infusion will be utilised in expanding the company's sales and service network while advancing new product development, the statement Motors said it has secured investment amid rapidly scaling operations and strengthening of leadership in the commercial EV company has seen strong adoption across the e-commerce, retail and logistics segments, backed by a growing portfolio, comprising the electric three-wheeler high-HiLoad EV and the recently launched four-wheeler LCV StormEV "We welcome Hero MotoCorp as a strategic investor in Euler Motors. This is a strong vote of confidence both in India's commercial electric mobility future and in Euler Motors' execution and products," Euler Motors founder and CEO Saurav Kumar this fresh capital and strategic backing from new and existing investors, the company is set to accelerate its scale and continue innovating to deliver superior products, he added."As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility," said Pawan Munjal , Executive Chairman, Hero in 2018, Euler Motors investors include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund."...Since our initial investment in 2023, Euler Motors has advanced e-mobility adoption and created better jobs. This aligns closely with our ambition to support India's net-zero emissions target and enables us to drive scalable impact in a sector vital to both economic growth and environmental progress," said Abhinav Sinha, Managing Director and Head of Technology, Telecoms and Sustainable Industrials at British International Investment.
