You are currently viewing Startup news and updates: daily roundup (Sept 8, 2023)

Startup news and updates: daily roundup (Sept 8, 2023)

Funding News

Actor Parineeti Chopra invests in Tritiyaa Fine Jewellery

Bollywood actor Parineeti Chopra has invested in Tritiyaa Fine Jewellery, the brainchild of celebrated entrepreneur Kanthi Dutt. The amount of funding is undisclosed

Entrepreneur Dutt unveiled Tritiyaa Fine Jewellery, an opulent jewellery boutique brand on Friday in Hyderabad.

“My love for jewellery defines the celebration of life’s precious moments. At Tritiyaa, every piece is a masterpiece and each moment is an occasion. We offer a very exclusive gold and diamond jewellery collection, including uncut, Victorian, rare precious stones. Our partnership with Parineeti will take Tritiyaa to greater heights and I can’t contain my excitement,” Dutt said.

Schneider Electric Energy Access Asia co-leads investment in Biofuels Junction

Schneider Electric, a global leader in energy management and automation’s digital transformation, has announced a strategic equity investment in Mumbai-based Biofuels Junction through Schneider Electric Energy Access (SEEAA), an Asia-focused clean energy fund co-financed by Norfund, EDFI MC, and Amundi.

This partnership underscores Schneider Electric’s commitment to supporting Biofuels Junction’s mission of curbing stubble burning and repurposing agricultural waste into solid biofuels.

Biofuels Junction is a pioneering clean-energy enterprise specialising in the production and aggregation of solid biofuels, such as briquettes and pellets derived from agricultural residues. These eco-friendly alternatives are aimed at replacing fossil fuels across various industries. 

GOAT Brand Labs makes 100% acquisition of Frangipani

GOAT Brand Labs (GBL) has completely acquired the remaining stake in Frangipani from its founders, honouring all terms from the original plan laid out during the majority acquisition in 2021. 

Frangipani, the children’s nightwear and loungewear brand, was founded in 2012 by Sunaina Patel and Mansi Kilachand.

“Sunaina and Mansi have played a pivotal role in growing Frangipani over the last 10 years. With GBL taking full control, we will continue using all our D2C platform capabilities to accelerate the brand for the next level of growth. I wish the founders the very best and thank them for all their efforts in bringing the brand to this point,” Rishi Vasudev, CEO and Co-founder, GOAT Brands Labs, said.

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Other news

AIBI appoints Mahavir Lunawat of Pantomath Capital as Chairman

Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt Ltd, has been appointed Chairman of the Association of Investment Bankers of India (AIBI) for a two-year term commencing in September 2023. 

AIBI, the sole representative of investment banking to SEBI and statutory authorities, also appointed Arjun Mehra, MD of J.M. Financial, and Mr. Prem D’Cunha, SVP and Head—ECM Execution at ICICI Securities, as Vice Chairmen. 

Lunawat, an industry veteran with 20+ years of experience, is known for his leadership in numerous M&As, corporate restructuring projects, and management of over 100 IPOs. 

Schwing Stetter India partners with VIT BTech to offer BTech in manufacturing 

Schwing Stetter India, a prominent construction and concreting equipment manufacturer, has entered into a Memorandum of Understanding (MoU) with Vellore Institute of Technology (VIT), Vellore. 

As part of this initiative, Schwing Stetter India will sponsor over 25 employees with diploma-level qualifications to pursue a Bachelor of Technology (BTech) degree in manufacturing engineering. The employees will receive 50% sponsorship over the course of the 3.5-year degree programme.

In addition to financial support, VIT will facilitate faculty visits to Schwing Stetter India’s Global Manufacturing Hub (GmH) in Cheyyar for instructional purposes. Employees will also have the opportunity to spend two weeks at VIT’s campus, gaining exposure and collaborating on projects with fellow students.

The event was graced by Dr G Viswanthan, the esteemed Chancellor of VIT, and V G Sakthikumar, Chairman and Managing Director of Schwing Stetter India. Sankar Viswanathan and Dr G V Selvam, Vice Presidents of VIT, extended their honours to the Schwing Stetter delegation.

Atlassian announces promotion of Avani Prabhakar to Global HR role 

Atlassian Corporation, a leading provider of team collaboration and productivity software, announced the promotion of Avani Prabhakar to Global Head of Talent and HR Business Partners. 

In this newly established position, Prabhakar will prioritise enhancing performance as the company expands, streamlining operations within talent and employee programmes, and expanding the reach of the company’s diversity, equity, and inclusion (DEI) initiatives. She will oversee a team of around 100 professionals responsible for Human Resource Business Partners, Employment Relations, Talent, M&A, and DEI efforts across Atlassian’s worldwide presence.

(The copy will be updated with the latest news throughout the day.)

Edited by Affirunisa Kankudti

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