Latest news with #CrescentEnterprises
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Space-tech startup PierSight adds strategic investors, bringing total funding to $8 million
PierSight, a space-tech company building a constellation of Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) satellites for 24/7, all‑weather maritime intelligence, today announced it has secured additional capital in a seed extension, bringing the company's total funding to $8 million. 'We have the necessary resources in place to reach our upcoming targets,' said Gaurav Seth, Co‑founder & CEO of PierSight. 'This round was about welcoming partners who bring frontline experience in ocean sustainability and port operations and can help us build a world‑class team.' The new investment comes from the Sustainable Ocean Alliance (SOA) and its venture arm, Seabird Ventures, as well as CE-Ventures, the corporate venture capital platform of Crescent Enterprises, and leading technology operators Nandan Reddy (Co-founder, Swiggy), Natasha Malpani Oswal (Investor, Boundless), and Sahil Lavingia (Founder, Gumroad). 'Our mission aligns well with UN Sustainable Development Goal 14, which is about conserving and sustainably using the oceans and marine resources. Sustainable Ocean Alliance's (SOA) investment is a strong signal that we take this mission seriously,' added Seth. 'It's a strong validation to have CE-Ventures as a backer, given that the parent, Crescent Enterprises, operates the region's largest privately-owned independent port operator through its subsidiary, Gulftainer,' said Vinit Bansal, Co-founder & CTO of PierSight. PierSight is collaborating with coast guards, insurers, shipping lines, port operators, and ocean conservation NGOs to address challenges such as monitoring Exclusive Economic Zones (EEZs), detecting Illegal, Unreported, and Unregulated (IUU) Fishing, monitoring oil spills, dark-vessel detection, and marine insurance fraud, among others. 'PierSight's ocean-focused satellite constellation will be highly scalable for conservation outcomes by exposing the 'dark side' of ocean activities like illegal fishing and offshore pollution dumping. Enforcing ocean regulations and achieving full ocean monitoring by 2030 is an area where conservationists, governments, and big ocean industries are all eager to collaborate.' Matt Mulrennan, Head of Investments, Sustainable Ocean Alliance. 'PierSight is pioneering a new frontier in satellite-based maritime intelligence with its innovative use of Synthetic Aperture Radar technology. Gaurav and Vinit's technical depth, combined with their proactive business thinking, has been incredible. We are proud to back a team that's building the next-generation ocean observability stack, solving critical challenges in global shipping, security, and environmental tracking.' Sudarshan Pareek, Senior Vice President and Head of Ventures, CE-Ventures. The company successfully launched its technology demonstration satellite, Varuna, in December 2024 and qualified payload subsystems to TRL-7. PierSights's first commercial SAR + AIS (VDES‑enabled) satellite is in development for a mid‑2026 launch. Its maritime analytics platform, MATSYA, is under development with a planned Q4 2025 release, while a drone‑borne SAR system is in flight‑testing, slated for commercial availability in Q4 2025.
Yahoo
20-05-2025
- Business
- Yahoo
Badr Jafar
Credit - Andrew Matthews—In much of the Global South, generosity flows through donation boxes at churches, mosques, and temples, with Islamic almsgiving alone estimated as high as $1 trillion annually. The challenge with this generosity, says Emirati businessman and social entrepreneur Badr Jafar, is that it is fragmented and uncoordinated: 'Systemic challenges can only be tackled at a large scale with strategic philanthropy.' Jafar's solution? Channel that goodwill into a strategic force by building what he calls philanthropic infrastructure: clear regulations, robust transparency requirements, and streamlined processes for starting and running nonprofits. The CEO of conglomerate Crescent Enterprises, Jafar began laying the groundwork for such a force over a decade ago, when he launched the Pearl Initiative, a nonprofit that fosters corporate governance and accountability across the Gulf region. He subsequently became a founding patron of two university-based centers on strategic philanthropy. In 2020, Jafar launched HasanaH, a digital platform for Islamic giving. It has since hosted high-impact projects with cumulative fundraising goals of over $95 million. In 2024, he published a book, The Business of Philanthropy, which lays out the case for strategic philanthropy through conversations with high-profile thought leaders like Bill Gates. Now he has a new platform to preach the spread the word of strategic philanthropy: last September Jafar was appointed the UAE's Special Envoy for Business and Philanthropy. He says, 'I expect that within the coming decade, you will see very different legislative environments for philanthropy.' Contact us at letters@
Sharjah 24
23-04-2025
- Business
- Sharjah 24
Crescent Enterprises marks 11 years with Arabian Sights
Arabian Sights: A leading platform for Arab cinema Held annually in Washington, DC, Arabian Sights has become a major platform for showcasing the depth, diversity, and dynamism of Arab cinema. Since its inception in 1996, the festival has presented over 300 films, offering unique insights into the social, political, and cultural narratives shaping the Arab world. The power of film to connect cultures Crescent Enterprises' long-standing support reflects its broader mission to advance the arts as a means of connecting communities and encouraging inclusive dialogue. Tushar Singhvi, Deputy CEO of Crescent Enterprises, said: 'We are honoured to continue our partnership with Arabian Sights as it celebrates three decades of powerful storytelling. The arts—especially film—play a vital role in deepening global understanding by allowing us to step into different lives and perspectives.' A partnership built on shared values Shirin Ghareeb, Founder and Curator of Arabian Sights, acknowledged the partnership's impact: 'Reaching our 30th anniversary is a reflection of the power of storytelling to transcend borders. We are deeply grateful to Crescent Enterprises for helping us elevate Arab voices and bring their stories to new audiences.' Looking ahead: MENA filmmakers take the stage This year's festival, running from April 24 to May 4, 2025, will feature a diverse and compelling lineup of films from both established and emerging Arab filmmakers. Crescent Enterprises, through its continued support, remains committed to amplifying authentic voices and bridging cultures through the arts. About Crescent Enterprises Crescent Enterprises is a leading multinational company, growing diversified global businesses that are sustainable, scalable, and profitable. Headquartered in the United Arab Emirates, with business operations in 15 countries, it operates under four enterprise platforms: CE-Operates, an operating business platform, focusing on smart infrastructure as the main driver of economic development and growth. CE-Invests, a strategic investment platform investing in late-stage businesses and private equity funds. CE-Ventures, a corporate venture capital platform targeting early-stage technology-enabled high-growth businesses and venture capital funds globally. CE-Creates, an internal business incubator, building start-ups that are socially and environmentally conscious. Crescent Enterprises operates with a value system and culture that embraces corporate governance, inclusive growth, and responsible business practices. For further information, please visit:
Khaleej Times
23-04-2025
- Entertainment
- Khaleej Times
Crescent Enterprises marks 11th year supporting Arabian Sights Film Festival
Crescent Enterprises is marking its 11th consecutive year of supporting the Arabian Sights Film Festival, which celebrates its 30th anniversary this year. Arabian Sights, held annually in Washington, DC, has become a leading platform for showcasing the depth, diversity, and dynamism of Arab cinema. Since its inception in 1996, the festival has presented over 300 films, offering a powerful lens into the social, political, and cultural narratives shaping the Arab World. Crescent Enterprises' long-standing support reflects its broader dedication to advancing the arts as a means of connecting communities and fostering inclusive dialogue across cultures. Tushar Singhvi, Deputy Chief Executive Officer of Crescent Enterprises, commented: 'We are honoured to continue our partnership with Arabian Sights as it celebrates three decades of powerful storytelling. The arts play a vital role in deepening global understanding, and film in particular enables us to step into lives and perspectives beyond our own. Supporting platforms like Arabian Sights is part of our belief in the transformative power of culture to drive empathy, inclusion, and meaningful exchange.' Shirin Ghareeb, Founder and Curator of Arabian Sights, added: 'Reaching our 30th anniversary is a reflection of the power of storytelling to transcend borders and foster mutual understanding. We are deeply grateful for our long-standing partnership with Crescent Enterprises, whose support has helped us elevate Arab voices and bring their stories to new audiences. Together, we continue to bridge cultures and challenge perceptions through the lens of cinema'. This year's festival, running from April 24 to May 4, 2025, will feature a compelling programme of films by both established and emerging Arab filmmakers. Through its continued partnership with Arabian Sights, Crescent Enterprises remains committed to amplifying authentic voices and bridging cultures through the arts.
Khaleej Times
03-04-2025
- Business
- Khaleej Times
Crescent Enterprises collaborates with MIT solve to advance AI for social innovation in the Arab region
Crescent Enterprises is collaborating with MIT Solve, an initiative of the Massachusetts Institute of Technology, to accelerate AI-driven solutions for global and regional social challenges. Through this collaboration, Crescent Enterprises will support MIT Solve's efforts in identifying and scaling AI-powered innovations that address critical global issues, with a particular focus on expanding access to these opportunities in the Arab region. MIT Solve's Global Challenges aim to harness technology and entrepreneurship to create scalable solutions in key areas such as climate resilience, healthcare, economic inclusion, and education. By supporting MIT Solve, Crescent Enterprises is reinforcing its commitment to fostering innovation and driving impactful, technology-enabled change in high-growth markets. 'AI has the potential to revolutionize industries, redefine economies, and shape a more inclusive future,' said Tushar Singhvi, Deputy CEO & Head of Investments at Crescent Enterprises. 'Through our partnership with MIT Solve, we are fostering a platform for AI-powered innovation that aligns with global priorities while addressing region-specific challenges. This initiative reflects our ongoing commitment to enabling entrepreneurship and technology for sustainable development'. For the first time, MIT Solve will host a MIT Challenge Clinic in Arabic, in collaboration with Crescent Enterprises. This initiative will equip regional entrepreneurs with access to a global network and tailored guidance, enabling them to harness AI-driven innovation more effectively. 'MIT Solve is dedicated to empowering innovators and entrepreneurs who are tackling the world's most pressing challenges through technology,' said Hala Hanna, Executive Director of MIT Solve. 'Our collaboration with Crescent Enterprises enhances our ability to connect with AI-driven problem-solvers across the MENA region and globally, equipping them with the tools, resources, and networks necessary to scale their impact and drive AI-powered innovation forward. MIT Solve's 2025 Global Challenges will deploy over $1.5 million in funding to scale transformative, tech-enabled solutions addressing critical global challenges. As part of this initiative, Crescent Enterprises' AI for Social Innovation Prize will support up to four winning teams, two from the MENA region and two from global applicants. Each recipient will receive $25,000 in equity-free funding and access to MIT Solve's nine-month Solver Support Program, designed to accelerate impact through tailored mentorship, strategic advisory, and direct engagement with MIT's global innovation ecosystem. Applications are open to entrepreneurs, researchers, and organizations with solutions that align with Solve's Global Challenges, with a particular focus on AI-driven social innovation. Submissions will undergo a rigorous evaluation process led by MIT faculty and industry leaders, assessing technological ingenuity, feasibility, scalability, and long-term impact. Finalists will be invited to the Solve Challenge Finals in New York City, where winning teams will receive financial support, executive mentorship, and access to an influential network to further scale their solutions and drive measurable change. By leveraging Crescent Enterprises' regional expertise and MIT Solve's global innovation ecosystem, this partnership aims to bridge the gap between frontier technology and real-world solutions. Through strategic collaborations, Crescent Enterprises remains committed to advancing AI-driven innovation that fosters sustainable economic growth and empowers entrepreneurs in high-growth markets.
