Latest news with #ErishaEMobility
Zawya
4 days ago
- Automotive
- Zawya
RAKEZ, Rana Group to set up Erisha Smart Manufacturing Hub in Ras Al Khaimah
RAS AL KHAIMAH - Ras Al Khaimah Economic Zone (RAKEZ) entered into a landmark partnership with Indian construction giant Rana Group to establish Erisha Smart Manufacturing Hub – a groundbreaking initiative that aims to revolutionise the region's industrial and sustainability sectors. The collaboration is set to pave the way for the operational expansion of the Group's EV subsidiary Erisha E Mobility in the Middle East and Africa, while strengthening its existing business in India. Erisha Smart Manufacturing Hub will be a state-of-the-art facility spanning 15 million ft2, with an expansive total construction area of approximately 25 million ft2. The hub will support over 150 industries, focusing on pioneering technologies such as electric and hydrogen vehicle production, renewable energy, EVTOL (electric vertical take-off and landing) aircraft, and semiconductor manufacturing. Through this innovative Hub, the company aims to create a sustainable and technologically advanced ecosystem, seamlessly integrating industrial, residential, and commercial spaces. It will house a wide range of facilities, including hospitals, medical colleges, shopping complexes, hypermarkets, warehouses, office spaces, community centres, banks, and financial institutions. RAKEZ Group CEO Ramy Jallad said, 'Ras Al Khaimah continues to establish itself as a fertile base for technological innovation and sustainable development. With its robust infrastructure, strategic location, and dynamic business environment, the emirate is well-positioned to support forward-thinking initiatives like Erisha Smart Manufacturing Hub. While this integrated Hub will drive economic diversification, it will also create thousands of new jobs, promoting long-term growth and reinforcing Ras Al Khaimah's leadership in green energy and advanced manufacturing.' Erisha E Mobility Chairman and Managing Director Dr. Darshan Rana commented, 'We are thrilled to partner with RAKEZ and bring Erisha Smart Manufacturing Hub to life. This project will be at the forefront of the green energy revolution, contributing significantly to the UAE's net zero ambitions and creating a self-sustainable future. Our goal is to set new benchmarks in sustainable industrialisation, driving innovation while supporting the global transition to cleaner energy solutions.' This partnership underscores a shared commitment to driving sustainability, innovation, and economic growth. RAKEZ, with its world-class infrastructure and commitment to fostering business success, provides the ideal platform for Erisha E Mobility's global expansion, ensuring that the Hub will be a catalyst for progress in the UAE and beyond.
Zawya
4 days ago
- Automotive
- Zawya
RAKEZ partners with Rana Group to set up Erisha Smart Manufacturing Hub in Ras Al Khaimah
New Delhi : Ras Al Khaimah Economic Zone entered into a landmark partnership with Indian construction giant Rana Group to establish Erisha Smart Manufacturing Hub – a groundbreaking initiative that aims to revolutionise the region's industrial and sustainability sectors. The collaboration is set to pave the way for the operational expansion of the Group's EV subsidiary Erisha E Mobility in the Middle East and Africa, while strengthening its existing business in India. Erisha Smart Manufacturing Hub will be a state-of-the-art facility spanning 15 million ft2, with an expansive total construction area of approximately 25 million ft2. The hub will support over 150 industries, focusing on pioneering technologies such as electric and hydrogen vehicle production, renewable energy, EVTOL (electric vertical take-off and landing) aircraft, and semiconductor manufacturing. Through this innovative Hub, the company aims to create a sustainable and technologically advanced ecosystem, seamlessly integrating industrial, residential, and commercial spaces. It will house a wide range of facilities, including hospitals, medical colleges, shopping complexes, hypermarkets, warehouses, office spaces, community centres, banks, and financial institutions. The mixed-use development will span 335 acres and is expected to attract approximately USD 10 billion in investment. Once operational, it will contribute an estimated USD 5-6 billion to the UAE's GDP and generate around 4,000 jobs in Ras Al Khaimah. Erisha E Mobility Chairman and Managing Director Dr Darshan Rana commented, 'We are thrilled to partner with RAKEZ and bring Erisha Smart Manufacturing Hub to life. This project will be at the forefront of the green energy revolution, contributing significantly to the UAE's net zero ambitions and creating a self-sustainable future. Our goal is to set new benchmarks in sustainable industrialisation, driving innovation while supporting the global transition to cleaner energy solutions.' RAKEZ Group CEO Ramy Jallad said, 'Ras Al Khaimah continues to establish itself as a fertile base for technological innovation and sustainable development. With its robust infrastructure, strategic location, and dynamic business environment, the emirate is well-positioned to support forward-thinking initiatives like Erisha Smart Manufacturing Hub. While this integrated Hub will drive economic diversification, it will also create thousands of new jobs, promoting long-term growth and reinforcing Ras Al Khaimah's leadership in green energy and advanced manufacturing.' This partnership underscores a shared commitment to driving sustainability, innovation, and economic growth. RAKEZ, with its world-class infrastructure and commitment to fostering business success, provides the ideal platform for Erisha E Mobility's global expansion, ensuring that the Hub will be a catalyst for progress in the UAE and beyond.
Time of India
25-06-2025
- Business
- Time of India
India ranks 3rd globally in tech startup funding
Bengaluru: India emerged as the third-highest funded country globally for tech startups in the first half of 2025, raising $4.8 billion despite a slowdown in overall investment activity, according to Tracxn's India Tech Semi Annual Funding Report for the first half of the current calendar year. The total was 25% lower than the $6.4 billion raised in the same period a year ago and down 19% from $5.9 billion in the second half of last year. The US and the United Kingdom led global rankings, with India moving ahead of Germany and Israel from its fourth-place position in H1 2024. Tracxn's data showed a broad slowdown across investment stages. Seed stage funding fell to $452 million in H1 2025, down 44% year on year, while early-stage funding declined 16% to $1.6 billion. Late-stage investment dropped 27% from H1 2024, to $2.7 billion. Even amid tighter conditions, the period witnessed five $100 million plus funding rounds. Electric mobility company Erisha E Mobility raised $1 billion, followed by GreenLine ($275 million), ($222 million), Spinny, and Darwinbox. These investments came largely in transportation and logistics, retail, and construction technology, sectors that led activity in the first half of the year. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru "The funding volumes have come down compared to the previous year, but India's tech ecosystem continues to show resilience and maturity. Strong interest in transportation, retail, and enterprise tech signals investor conviction in solving large, structural challenges," said Neha Singh, cofounder of Tracxn. The transportation and logistics tech segment surged 104% from H2 2024 to $1.6 billion, making it the best performing sector. Retail secured $1.2 billion, rising 25% from H2 2024 despite being down 32% year on year. The enterprise applications segment drew $1.1 billion, a 21% drop from H2 2024. The first half of 2025 also saw increased M&A activity, with 73 acquisitions compared to 54 in H1 2024. The largest transaction was Magma General Insurance's $516 million sale to DS Group and Patanjali Ayurved, followed by HUL's $350 million acquisition of skincare brand Minimalist. Bengaluru accounted for 26% of total funding in the period, followed closely by Delhi with 25%. In terms of investment activity, LetsVenture, AngelList, and Accel emerged as the top investors across stages. At the seed level, the top active firms were Venture Catalysts, 100XVC, and Antler, while Peak XV Partners, Accel, and Lightspeed Venture Partners led early-stage activity. Late-stage investment was dominated by Sofina, Premji Invest, and SoftBank Vision Fund. "The quality of IPOs and landmark acquisitions reflects the ecosystem's ability to create long-term value," Singh said. "The resilience we've observed in the first half of 2025 is a strong signal of where India's tech sector is headed next."
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Business Standard
25-06-2025
- Business
- Business Standard
India startup funding falls 25% in H1 2025, ranks 3rd globally: Tracxn
India's tech startup ecosystem raised $4.8 billion in the first half of 2025, according to Tracxn's 'India Tech Semi-Annual Funding Report H1 2025'. This marked a 25 per cent drop from $6.4 billion in H1 2024 and a 19 per cent decline from $5.9 billion in H2 2024. Despite the dip, India moved up from fourth to third place globally in startup funding, overtaking Germany and Israel. The United States and United Kingdom retained the top two spots. Neha Singh, co-founder of Tracxn, said, 'While the funding volumes have come down compared to the previous year, India's tech ecosystem continues to show resilience and maturity. Strong interest in sectors like transportation, retail, and enterprise tech signals investor conviction in solving large, structural challenges. We are also seeing quality IPOs and landmark acquisitions, which reflect the ecosystem's ability to create long-term value.' Funding by stage Funding dropped across all stages of investment. Seed-stage startups raised $452 million, down 23 per cent from H2 2024 and 44 per cent lower than the $802 million raised in H1 2024. Early-stage investments totalled $1.6 billion, a 6 per cent decline from H2 2024 and 16 per cent lower year-on-year. Late-stage funding stood at $2.7 billion, reflecting a 25 per cent sequential decline and 27 per cent drop from H1 2024. Five Indian startups secured funding rounds of over $100 million in H1 2025, a decline from nine such deals in H2 2024 and 10 in H1 2024. The largest among them was Erisha E Mobility, which raised $1.0 billion in a Series D round. GreenLine followed with a $275 million Series A round, while secured $222 million in its Series F funding. Spinny and Darwinbox also featured among those raising significant capital. These mega-rounds were concentrated in transportation and logistics tech, retail, and real estate and construction tech sectors. Sectoral performance Transportation and Logistics Tech was the top-performing sector in H1 2025, attracting $1.6 billion — a 104 per cent rise from H2 2024 and a 54 per cent increase from H1 2024. Retail followed with $1.2 billion, down 32 per cent from H1 2024 but up 25 per cent from H2 2024. Enterprise Applications garnered $1.1 billion, falling 21 per cent from H2 2024 and 26 per cent year-on-year. IPOs and unicorns As many as 12 startups went public in H1 2025, compared to 21 during the same period last year. Notable market debuts included Ather Energy, Tankup, SS Innovations International, and Infonative Solutions. Two unicorns emerged in H1 2025, a slight decline from three in H1 2024. Acquisition activity picked up significantly in H1 2025, with 73 deals recorded — a 35 per cent increase from the 54 acquisitions reported in H1 2024. Among the key transactions, Magma General Insurance was acquired by DS Group and Patanjali Ayurved for $516 million, while Minimalist was taken over by Hindustan Unilever Limited for $350 million. Leading cities and investors Bengaluru retained its position as the top city for startup funding, accounting for 26 per cent of the total raised, followed closely by Delhi at 25 per cent. Top investors overall were LetsVenture, AngelList, and Accel. In seed-stage funding, Venture Catalysts, and Antler were most active. Among venture capital firms, Accel (US) made the most investments (30 rounds), while Blume Ventures (India) added seven new startups to its portfolio.
India.com
25-06-2025
- Business
- India.com
India Jumps To 3rd Place In Global Tech Startup Funding In 1st Half Of 2025
Bengaluru: India jumped to third place in global tech startup funding in the first half this year (H1 2025), raising $4.8 billion, a report showed on Wednesday. Despite the year-on-year slowdown, India ranked third globally in tech startup funding, ahead of Germany and Israel and trailing the United States and the United Kingdom, according to Tracxn, a leading market intelligence platform. 'While the funding volumes have come down compared to the previous year, India's tech ecosystem continues to show resilience and maturity. Strong interest in sectors like transportation, retail, and enterprise tech signals investor conviction in solving large, structural challenges,' said Neha Singh, Co-Founder, Tracxn. Bengaluru emerged as the leader in total funds raised during this period, accounting for 26 per cent of the overall funding, followed by Delhi at 25 per cent. 'We are also seeing quality IPOs and landmark acquisitions, which reflect the ecosystem's ability to create long-term value,' Singh mentioned. H1 2025 witnessed five funding rounds exceeding $100 million. Some of those who raised these large rounds included Erisha E Mobility's $1.0 billion Series D round, GreenLine's $275 million Series A round, and Infra. Market's $222 million Series F round. Other companies that secured major funding included Spinny and Darwinbox. A major part of these $100M and above funding rounds were from Transportation and Logistics Tech, Retail and Real Estate and Construction Tech verticals, the report mentioned. The Transportation and Logistics Tech sector saw a strong recovery, raising $1.6 billion, a 104 per cent increase from $799.3 million in H2 2024. The retail sector also showed signs of an uptick, securing $1.2 billion in funding. The Enterprise Applications sector secured $1.1 billion in funding. There were 12 startups that went public in H1 2025, as compared to 21 in H1 2024. Acquisitions in the Indian startup ecosystem saw a significant rise, with 73 acquisitions in H1 2025, compared to 54 acquisitions in H1 2024. Among venture capital firms, Accel (US) led the most number of investments, with 30 investment rounds, while Blume Ventures (India) added seven new companies to its portfolio during this period.
