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Funding

Anicut Equity Fund receives Rs 50 Cr from SIDBI

Anicut Capital, an alternative investment firm, has secured an investment of Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for its Anicut Equity Fund.

The investment comes through the Fund of Funds for Startups (FFS) launched under the Startup India Initiative by the Government of India. This is aimed at boosting early growth-stage companies that are part of Anicut’s Equity portfolio.

Anicut Equity Fund launched its Grand Anicut Fund 3 in June last year with a total targeted corpus of Rs 500 crore, with an additional Rs 250 crore green shoe option. The investment firm has successfully closed two-thirds of the fund and has also received a commitment of Rs 75 crore from Self Reliant India Fund.

“We are excited to welcome SIDBI as an investor through the FFS initiative. It further energises our mission to identify and invest in game-changing businesses and empower the next generation of Indian entrepreneurs,” said Dhruv Kapoor, Partner, Anicut Equity Fund.

“This generous commitment from SIDBI not only provides us with the capital to invest in innovative startups but also solidifies our commitment to adding value to the burgeoning Indian startup industry,” he added.

Other news

Ranveer Singh is BGMI’s brand ambassador

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Ranveer Singh, brand ambassador, BGMI

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KRAFTON India has announced Bollywood actor and youth icon Ranveer Singh as the official brand ambassador for Battlegrounds Mobile India (BGMI).

The partnership aims to bring together the thrill of gaming and the charisma of Ranveer Singh to engage and deliver elevated experiences for gamers across the country, said the company.

With this collaboration, KRAFTON will launch the Play Pure campaign as part of which players will be urged to be bold and celebrate their authenticity in the Battlegrounds.

“Ranveer Singh’s magnetic persona and unrelenting spirit align seamlessly with the essence of BGMI … This collaboration opens up a new avenue to bring exciting and engaging content that will resonate with gaming enthusiasts across the nation,” said Sean Hyunil Sohn, CEO, KRAFTON India.

“As an artist, I find gaming to be an extension of my creative expression. BGMI has evolved into a cultural phenomenon by creating a platform that brings together individuals from diverse backgrounds, transcending borders through their shared passion for gaming,” said Singh.

Luminous Power appoints Shikha Gupta as HR chief

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Shikha Gupta, CHRO, Luminous Power Technologies

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Luminous Power Technologies, the energy storage solutions provider, has appointed Shikha Gupta as its new chief human resources officer (CHRO). Gupta joins Luminous from Schneider Electric, where she served as the Director of HR and DEI (diversity, equity, and inclusion) for India and South Asia.

In the new role, Gupta will be reporting to Preeti Bajaj, CEO and Managing Director, Luminous Power Technologies. She will spearhead the human resource function and build the people function to effectively support the overall business plan and growth of Luminous Power Technologies. She will also be in charge of CSR and administration duties at Luminous.

“As we navigate the dynamic, high-potential energy sector, my focus will be on evolving the people strategy to support our growth and transformation,” said Gupta.

(This article will be updated with the latest news throughout the day.)