New Delhi-based Oorja Development Solutions, a spin-out company from the Imperial College of London was awarded $100,000 for winning the 2019 Cisco Global Problem Solver Challenge. The social enterprise, co-founded in 2016 by Dr. Clementine Chambon of the Department of Chemical Engineering, and social entrepreneur Amit Saraogi, was the winner of this...
KKR to Acquire Controlling Stake in India Grid Trust
With an eye on India's rapidly growing power sector, global investment firm KKR & Co Inc is leading a deal to acquire a controlling stake in India Grid Trust (IndiGrid) -- India’s first power sector Infrastructure Investment Trust established by New Delhi-based Sterlite Power Grid Ventures Limited, to own inter-state...
Seasoned Newcomer Is India's Foreign Minister: Dr. S. Jaishankar
A surprise appointment to the top cadre of Prime Minister Modi's new cabinet is its Foreign Minister. Unlike most in the cabinet, he is not a politician by profession; it is unusual for someone like him to directly reach the top echelons of power and status. Subramanyam Jaishankar was born...
SoftBank Invests Over $200 Million in India's Online Grocer
Japan's SoftBank Group led an investment round of more than $200 million in New Delhi-based online grocery startup Grofers India through its Vision Fund. The series F funding saw participation from new investor, KTB of South Korea, and existing investors Tiger Global Management of New York and Sequoia Capital of...
India to Promote Research on Traditional Medicines
With increasing demand for traditional medicines in the domestic and global market, India's federal Ministry of Ayush (f0r alternative medicines) and the country's premier research agency, Council of Scientific and Industrial Research (CSIR), signed a Memorandum of Understanding to boost prospects of Indian herbal products in the global market. Under...
GE Healthcare Partners with India's NASSCOM for Digital Solutions
Chicago, IL-based GE Healthcare will partner with New Delhi-based IT industry body National Association of Software and Services Companies' (NASSCOM) Center of Excellence-Internet of Things (CoE-IoT) -- an innovation hub for start-ups that provides a platform for collaborative innovation -- for digital healthcare solutions. The partnership will help GE Healthcare...