Latest news with #EntrepreneurIndia
Entrepreneur
11 hours ago
- Automotive
- Entrepreneur
Helios Climate Backs SUN Mobility's Global Push in Landmark Investment Round
The investment will help SUN Mobility expand clean mobility in Africa for two, three-wheelers and heavy EVs, grow in South-East Asia, and boost battery and quick interchange station manufacturing capacity. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Helios Climate, in collaboration with the Private Infrastructure Development Group, has invested in SUN Mobility to drive the rollout of Africa's battery swapping network. The funding will also help the company expand its domestic operations in India. This latest capital raise takes the total amount secured by SUN Mobility in the past year to about USD 135 million. The funds will be directed toward deploying clean mobility infrastructure across Africa, focusing on two- and three-wheelers as well as heavy electric vehicles. The company also plans to strengthen its presence in South-East Asia while enhancing battery and quick interchange station production capabilities. Tavraj Banga, Partner and Co-Head of Helios Climate, said, "SUN Mobility's interoperable platform works across multiple original equipment manufacturers and vehicle types, making electrification possible at scale. This, combined with the economic and decarbonisation advantages, positions it as a strong choice for emerging markets. We look forward to collaborating with the company and its stakeholders to bring sustainable and scalable transport solutions to Africa." SUN Mobility was founded in 2017 by the SUN Group and the Maini Group, both recognised for their contributions to electric mobility and clean energy technologies. The company currently operates more than 900 battery swapping stations, powering a fleet of over 50,000 vehicles. Its open-architecture battery systems are designed and manufactured in India and can be used by two-wheelers, three-wheelers, four-wheelers, and heavy electric vehicles. Chetan Maini, Co-founder and Chairman of SUN Mobility, added, "With more than 1.4 million monthly battery swaps in India, we have built a model that adapts to real-world needs. Africa's rapid urban growth and its dependence on two and three-wheelers make it well-suited to adopt clean mobility technologies at pace." SUN Mobility's model separates battery ownership from the vehicle, lowering the initial cost of electric vehicles and improving affordability. This approach addresses key challenges faced by fleet operators and policymakers in reducing emissions and air pollution. According to industry estimates, two- and three-wheelers contribute around five percent of Africa's carbon dioxide emissions, with the market expected to grow to over 1.9 million vehicles annually by 2030. The company counts Bosch, Vitol, and Indian Oil Corporation among its strategic investors. Its technology has facilitated over 20 million battery swaps globally, enabling hundreds of millions of electric kilometers and preventing significant carbon emissions.
Entrepreneur
11 hours ago
- Automotive
- Entrepreneur
Can Nippon Paint Tap Into India's PPF Market
The paint protection films(PPF), launched by Nippon Paints, will be available across India and is expected to be present in more than 100 cities by the end of this year Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The paint protection films(PPF) market in India is a burgeoning industry. The automotive sector accounts for a significant share of the paint protection film market. PPF is highly used to protect vehicles from road debris, scratches, etc and a rapidly expanding automotive industry is expected to boost its demand. With an eye on developing and expanding the market in India, Nippon Paints, under the n-SHIELD brand, has launched its own PPF. "Our films cover all categories in the market, not just the premium. We plan to ultimately manufacture these products in India, in line with our Make in India philosophy, mirroring the government's efforts to bring international manufacturing to India," said Sharad Malhotra, director of Nippon Paint India. PPF is a thermoplastic polyurethane film that can be applied on the painted surfaces of a car to protect the paint from stone chips, reduce abrasions and wear and tear. The PPF market in India is expected to reach a projected revenue of US$ 31.9 million by 2030. From 2023 to 2030, a compound annual growth rate(CAGR) of 7.6 percent is expected in India, according to estimates by Horizon Grand View Research. The company has set up basic concept plants at the moment to manufacture this product in India. The product caters to mass, premium and luxury segments and is priced between INR 65,000 to INR two lakh. Nippon Paint has multiple sites for developing these films. Currently the products being launched in India are sourced from Japan and China. The paint major is actively seeking to develop new partnerships in India for strategic manufacturing of the product. "It's still at a concept stage because this is a new technology. The kind of investments, opportunities we see are still evolving. Conceptually we are aligned that this should be manufactured in India but in terms of plant designs, plant sizes, investment sizes it's still a work in progress. If the product takes off very well, we can start manufacturing in the next two to three years. It depends on the adoption rate," Malhotra added. The current investment is primarily R&D focused. Nippon Paints has been developing the PPF for four years. It started the film business division in Japan way back in 2021. In the middle of COVID as a part of the strategic review in the business, the company decided to enter the film business. India is the largest automotive aftermarket business in Nippon Paint Group and is the second region where the brand promises grand entry with films. First PPF was launched in Thailand. The PPF comes with a five, seven, ten years warranty and is found in gloss, matte and colored ranges. The company is yet to finalize its original equipment manufacturer (OEM) partners. The entire detailing range consists of tyre dressers, dashboard cleaners, fabric cleaners, etc. Nippon Paint is also launching a host of other films including the headlamp film for which it has already received OEM endorsements. "We want to be a one stop solution, the car dealership or the detailing centre doesn't have to look out to multiple vendors. Nippon is there to serve them as a single source. This is a time where actually a player like Nippon Paint can add a lot of value, set standards, establish benchmarks, create ecosystems for the entire industry to benefit," he added. This product will be available across India and is expected to be present in more than 100 cities by the end of this year. Not only cars, these films will be available for two-wheelers, bikes and trains as well. In India right now the market is only two percent to three percent for cars and is expected to reach four percent to five percent in the next couple of years, estimated Malhotra. The paint protection films market is consolidated in nature. Some of the major players globally include 3M, Saint-Gobain, Avery Dennison Corporation, Eastman Chemical Company, XPEL, Inc., among others.
Entrepreneur
5 days ago
- Business
- Entrepreneur
India's Edge Data Centre Capacity to Triple to 200-210 MW by 2027: ICRA
The edge data centre capacity as a percentage of total India's data centre capacity is likely to increase to 8 per cent by 2027 from 5 per cent in 2024 You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's edge data centre capacity is expected to significantly expand to 200-210 Megawatt (MW) by 2027 from 60-70 MW in 2024, marking a 3-fold increase, driven by proliferation of emerging technologies, according to rating agency ICRA. Global data centre capacity (including capacity held by cloud operators) is estimated at around 50 Gigawatt (GW) as of December 2024, of which about 10 per cent is edge data centres. The US commands over 44 per cent of worldwide edge data centre capacity, followed by Europe, the Middle East and Africa (the EMEA) region at 32 per cent and Asia Pacific (the APAC) region at 24 per cent. Edge data centres are smaller, decentralised facilities located closer to end-users and devices. Unlike traditional data centres, which are typically large and centralised, edge data centres enable real-time data processing with minimal latency (the delay between a user action and the corresponding system response). This makes them ideal for supporting emerging technologies such as the Internet of Things (IoT), 5G, augmented and virtual reality (AR/VR), and generative artificial intelligence (AI). These new age applications and technologies are forecasted to grow significantly in the medium term, resulting in an increased demand for edge data centres. India is a relatively new entrant in the edge data centre market. The current edge data centre capacity as a percentage of total India's data centre capacity stands at around 5 per cent. Further, excluding the edge data centre capacity used for captive purposes by one of the large data centre operators, the current edge data centre capacity as a percentage of total capacity is as low as 1 per cent. Anupama Reddy, Vice President and Co-Group Head, Corporate Ratings, ICRA, said: "Edge data centres differ from traditional data centres in multiple parameters like size, location, scale, time taken to construct, capex cost per MW, distance from end user, etc. In the Indian context, traditional data centres and edge data centres are complementary pillars of digital infrastructure." "With the expanding cloud ecosystem of India, traditional data centres will keep fuelling mass-scale computing, artificial intelligence (AI), and cloud workloads, and edge data centres will facilitate real-time processing and localised services. Traditional and edge data centres are expected to operate in the hub-and-spoke model to enhance efficiencies across sectors such as healthcare, banking, agriculture, Defence, and manufacturing etc.," she added. Despite the promising outlook, some of the key challenges for edge data centres include security vulnerabilities due to remote deployments (majorly in tier II and tier III cities), rapid technological changes that risk obsolescence, a shortage of skilled professionals in remote areas, and interoperability issues with traditional data centres. "The rentals for edge data centres are anticipated to be on the higher side compared to traditional data centres, as they will be catering primarily to retail customers against enterprise/hyperscale customers for traditional data centres. Moreover, the relatively higher capex cost per MW for edge data centre compared to a traditional data centre is expected to be compensated by higher rentals. Established DC players and entities like RailTel, Telcom operators are likely to lead the edge data centre expansion in India," Reddy added.
Entrepreneur
5 days ago
- Business
- Entrepreneur
L Catterton Names Vikram Kumaraswamy as Partner and Co-Head of India
He will lead the firm's efforts in the country alongside Sanjiv Mehta, Executive Chairman of L Catterton India, and Anjana Sasidharan, also a Partner and Co-Head. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. L Catterton, a global investment firm focused on consumer businesses, has appointed Vikram Kumaraswamy as Partner and Co-Head of its India operations. He will lead the firm's efforts in the country alongside Sanjiv Mehta, Executive Chairman of L Catterton India, and Anjana Sasidharan, also a Partner and Co-Head. Kumaraswamy brings nearly three decades of experience, primarily at Unilever PLC Group. He most recently held the role of Global Head of Corporate Development and Treasury in London, where he led capital allocation and portfolio strategy. During his tenure, he oversaw transactions worth approximately USD 15 billion, evaluating a wide range of business models across geographies and sectors. Sanjiv Mehta welcomed the appointment, stating, "Vikram is a widely respected investor and operator with deep roots in India and vast experience across the world. Michael Chu and I have known him for many years and have consistently been impressed by his business acumen and high calibre steering of strategic initiatives." Commenting on his new role, Kumaraswamy said, "I am thrilled to be joining L Catterton as I have long admired the firm's culture, industry expertise, and value creation capabilities. It is exciting to be returning to India at this time, when the country's consumer market is becoming increasingly discerning and organised amid its rapid development." Kumaraswamy has worked in global and regional roles throughout his career. His past positions include CFO of PT Unilever Indonesia, Vice President of Mergers & Acquisitions in London, and several finance and operational roles at Hindustan Unilever Limited. He currently serves as a Non-Executive Director at Scottish Mortgage Investment Trust PLC. Anjana Sasidharan noted the broader market context in India, saying, "Growth is evident across India, with several categories expanding on the back of long-term consumer trends and structural tailwinds. Differentiated companies with sustainable competitive advantages in these categories have the potential to not only capture market share but also enlarge the pie." Scott Chen, Managing Partner for L Catterton Asia, added, "Vikram has a unique background with substantial investment experience and operating know-how. His skill sets nicely complement Sanjiv and Anjana's, and we actively recruited him to broaden our capabilities in Asia." L Catterton manages about USD 37 billion in equity capital and operates across private equity, credit, and real estate through 18 offices globally.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Mumbai Gains Majority of Maharashtra's $1.4B Funding
Mumbai retained its leadership as the top funding hub, with a notable share of 64 per cent, while the ecosystem also witnessed two IPOs and the creation of one unicorn during the period. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Tech companies across the state of Maharashtra raised a total of USD 1.4 billion during the first half of 2025, according to Tracxn's Maharashtra Tech H1 2025 Funding Report marking an 8 per cent increase from the USD 1.26 billion raised in H2 2024 and a 1 per cent rise from the USD 1.34 billion raised in H1 2024, signaling a stable and slightly improving funding environment for the region. The growth has been propelled by robust early-stage activity and the continuation of large-ticket funding rounds, despite muted unicorn creation. Seed Stage funding totaled USD 129 million, showing a 22 per cent increase over H2 2024 (USD 106 million) but a 38 per cent drop compared to H1 2024 (USD 209 million). Early-stage funding stood at USD 698 million, marking a 65 per cent rise over H2 2024 (USD 422 million) and a 76 per cent surge over H1 2024 (USD 397 million). Late-stage funding was USD 524 million, representing a 28 per cent decline from H2 2024 (USD 730 million) and a 29 per cent fall from H1 2024 (USD 738 million). Retail Tech raised USD 463 million, up 109 per cent from H2 2024 (USD 222 million) and 29 per cent from H1 2024 (USD 360 million). Transportation and Logistics Tech saw a dramatic jump to USD 378 million, a 280 per cent increase from H2 2024 (USD 99.6 million) and 199 per cent from H1 2024 (USD 127 million). Enterprise Applications collected USD 321 million, down 6 per cent from H2 2024 (USD 340 million) and down 18 per cent from H1 2024 (USD 390 million). H1 2025 witnessed two USD 100M+ funding rounds, consistent with H2 2024 and slightly lower than the three recorded in H1 2024. Major deals included -GreenLine, which secured USD 275 million in a Series A round and which raised USD 222 million in a Series F round. These large rounds were primarily in the Transportation & Logistics Tech and Real Estate and Construction Tech sectors. One new unicorn emerged in H1 2025, a contrast to zero unicorns in both H2 and H1 of 2024. Additionally, two tech companies, ArisInfra and ATC Group, went public during the period. Mumbai continued to dominate, accounting for 64 per cent of all funding raised in Maharashtra, with Thane coming in a distant second. Overall, top investors included Blume Ventures, LetsVenture, and Venture Catalysts. Among individual firms, India-based Z47 led the highest number of deals (3 rounds). Venture Catalysts also added 3 new companies to its portfolio.
