Flipkart Private Ltd, the Singapore-based holding company of India’s e-commerce marketplace Flipkart, based in Bangalore, closed a $1.4 billion funding round with backing from Chinese Internet giant Tencent, eBay, and Microsoft. Post funding, the valuation of India's most highly valued startup is now $11.6 billion from a previous high of $15...
Global Finance Firms to Add Office Space in India
Even as they downsize their retail operations worldwide, Barclays Plc, Credit Suisse Group AG, Standard Chartered Plc and Citigroup Inc., are among global financial firms looking to add office space in India. Barclay Technologies Center India Ltd, an offshore unit of the London-based financial services firm, is planning to add...
NetApp Inaugurates a Global Center of Excellence in India
Sunnyvale, California-based storage and data management company NetApp opened a Global Center of Excellence in Bangalore. The 12,000-square-foot data center and engineering laboratory on a 15-acre campus incorporates one million square feet of work space. The new facility incorporates the company's first startup accelerator program called "Escape Velocity" that will...
Merck Announces Research Collaboration with India's Steer Engineering
German life science and technology firm Merck announced a partnership for collaborative research on processing special effect pigments with Bangalore-based STEER Engineering, a company that has 60 global patents for its innovations. STEER will contribute process know-how, the technology platform, and its expertise in materials transformation, while Merck brings to...
Magellan Aerospace to Construct Manufacturing Facility in India
The Mississauga, Ontario-based Magellan Aerospace announced plans to construct a manufacturing and assembly plant in India. The 140,000 sq ft building will be constructed on seven acres in the Aerospace Special Economic Zone near the Bangalore International Airport. The company provides complex assemblies for aircraft and engine manufacturers, and defense...
Blackstone Puts Big Money in Indian Real Estate
New York City-based Blackstone Group is in advanced talks to acquire over 360,000 sq ft spread over six floors in the First International Financial Center (FIFC) Tower at Bandra-Kurla Complex, a business district in Mumbai, for over $125 million. With rising income levels of India's consumers, Blackstone has started focusing...