Latest news with #funding
Geek Wire
an hour ago
- Business
- Geek Wire
RFID startup Xemelgo lands new funding from Zebra Ventures
GeekWire's startup coverage documents the Pacific Northwest entrepreneurial scene. Sign up for our weekly startup newsletter, and check out the GeekWire funding tracker and venture capital directory.
BBC News
2 hours ago
- Business
- BBC News
Shields Ferry increased cost funds approved
Funds to cover a multimillion-pound increase in the cost of a new ferry landing have been for the future of the Shields ferry crossing were raised after it emerged its current facility in North Shields is no longer fit for purpose.A £14.6m package to build a new landing was agreed last summer, however this week the North East Combined Authority (Neca) was asked to allocate another £5.9m to cover rising East Mayor Kim McGuinness said the money would "fully safeguard" the ferry, which runs across the Tyne to South Shields. The latest funding has been allocated from the £1.85bn transport pot from central government announced earlier this said: "We've all seen the headlines about rising construction costs. "We haven't been immune to that so we have had to put extra funding in to make sure the beloved ferry is is hoped the landing will be completed by 2027. In 2020, the estimated cost stood at £8.8m. Since then, the project has been beset by issues, the Local Democracy Reporting Service Nexus lost a £5.6m grant from the government's Getting Building Fund because it could not meet a requirement to complete construction by spring scheme was later included in a Levelling Up Fund bid from North Tyneside Council as part of a wider regeneration of North Shields, but the application was year Nexus estimated the cost at £14.6m due to the effects of inflation, but that has now increased publicly owned organisation indicated the rising bill was because of the "very complex" nature of building at the Fish Quay, but said it could not confirm the full price tag until it had appointed a contractor. Follow BBC North East on X, Facebook, Nextdoor and Instagram.
The Herald
3 hours ago
- Business
- The Herald
KZN MECs deny public funds abuse amid calls for their heads
'The funding in question relates to a period specifically between 2014 and 2016, when I was not the chair of the committee. I became chair of the portfolio committee after June 2016.' She said she could not have influenced procurement processes due to the separation of powers in government as MPLs, including committee chairs, have no role in supply chain management or operational decisions of the department. 'These facts are easily verifiable, and their deliberate distortion shows that this is not an attempt to inform the public but rather a well-calculated political smear campaign.' Simelane's response follows a statement by provincial education MEC Sipho Hlomuka who was embroiled in similar allegations by the National School Nutrition Programme (NSNP) Service Providers' Association and opposition parties. Hlomuka is faced with allegations of political interference and personal enrichment in the controversial R2.9bn NSNP tender scandal. He is alleged to have interfered with the tender processes to benefit his allies in the ANC. He has since been directly linked, after it emerged a company registered to him in 2015 was among the beneficiaries of the tender issued by his department. Hlomuka admitted he registered the company in 2015 when he was not part of government but claimed he relinquished his stake well before taking office and is not aware of its current activities. 'Indeed in 2015 I opened the company and had been participating in a number of government and private services but currently I don't own any company. Let's allow those who are owning the company (to respond) because I don't want to be its spokesperson,' he said in an interview with Newzroom Afrika on Wednesday evening.
Yahoo
4 hours ago
- Business
- Yahoo
Rural Asset Finance secures £120m facility backed by BBB guarantee
A new agreement between the British Business Bank and Rural Asset Finance is set to unlock around £120 million in funding for smaller rural and agricultural businesses across the UK. The deal, part of the Bank's ENABLE Guarantee programme, is expected to significantly expand access to competitive finance in the sector. The facility is being supported by funding from NatWest Bank and BCI Capital, with the British Business Bank guaranteeing a portion of NatWest's contribution. The agreement also includes sustainability-linked incentives that could lower borrowing costs if environmental performance targets are met. Michael Strevens of the British Business Bank said the transaction 'builds on the work we have done through the ENABLE Guarantees programme,' and is designed to improve funding access for non-bank lenders like Rural Asset Finance. He added that linking pricing to sustainability goals could lead to 'further expansion of small business lending in sustainable areas, including farm renewable energy installations.' Rural Asset Finance, established in 2019, specialises in providing tailored finance solutions to UK farmers and rural enterprises, combining asset finance and business loans to support modernisation, diversification, and sustainability efforts. Matthew Smart, Managing Director of Rural Asset Finance, described the new facility as a 'highly competitive offering' that puts the company in a strong position to support both advanced food production and alternative income strategies. 'Food production and diversification on UK farms are key to ensuring a healthy, robust future for the industry and the wider rural economy,' he said. NatWest Bank, a key funding partner, emphasised the strategic value of the initiative. Matthew Whittle, Relationship Director at NatWest, said the ENABLE Guarantee would 'help unlock capital, reduce costs and ultimately increase access to competitive funding for agricultural and rural businesses.' BCI Capital's Will Haynes echoed the importance of supporting specialised lenders. 'Rural Asset Finance plays a crucial role in enabling growth and resilience across the UK's agricultural and rural business landscape,' he said, adding that the partnership reflects BCI's commitment to underserved sectors and sustainable growth. The ENABLE Guarantee scheme, administered by the British Business Bank, is designed to encourage increased lending to small and medium-sized enterprises by allowing lenders to reduce the capital needed to support such loans, with the UK Government taking on part of the risk. "Rural Asset Finance secures £120m facility backed by BBB guarantee" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
4 hours 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.
