Tata to pack semiconductors📦, Meesho 🤝🏻 Google Cloud, Rise Capital enters India🌄
Tatas in talks for semiconductor packaging, Meesho partners with Google Cloud, Rise Capital enters India, Funding Deals & more.
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Tata Electronics is in talks for semiconductor packaging foray🔋
Tata Electronics is in talks with large global semiconductor companies and outsourced semiconductor assembly and test (OSAT) vendors to foray into advanced packaging of semiconductor components, said Raja Manickam, the chief executive of its OSAT arm.
OSAT vendors provide third-party integrated circuit packaging and test services.
Tata Electronics has surveyed four states – Tamil Nadu, Karnataka, Telangana and Odisha – as prospective locations to house its facility. Last year, Tata Sons chairman N Chandrasekharan said the conglomerate planned to foray into semiconductor manufacturing.
The government has unveiled a $10 billion (about Rs 76,000 crore) plan to attract chipmakers from around the world to set up shop in India.
Meesho partners with Google Cloud to accelerate digital transformation☁️
Social commerce unicorn Meesho has announced a strategic association with Google Cloud to drive its digital transformation journey.
With this collaboration, Meesho expects to generate a significant competitive advantage as it looks to build an AI-first supplier experience, better user acquisition strategies and a personalised shopping experience for the next billion e-commerce users in the country.
Google Cloud will also enable Meesho to advance its AI (Artificial Intelligence) and ML (Machine Learning) capabilities across its value chain to augment business operations by enhancing demand forecasting and inventory optimization.
Hot Shorts⚡
Traceable AI has raised $60 million in its Series B round, led by Institutional Venture Partners (IVP) and others like Tiger Global Management.
Automation-as-a-Service solution provider Element5 has raised $30 million in a Series B funding round led by Insight Partners.
Toplyne, which provides sales software for product-led companies, has raised $15 million as part of its latest funding round, led by Tiger Global and Sequoia Capital India.
Financial services provider Kaleidofin has closed its latest funding round at $15 million, led by the Michael and Susan Dell Foundation.
San Francisco-based Rise Capital enters India, to invest in early-stage startups🌄
Venture capital firm Rise Capital, founded by former Tiger Global executive Nazar Yasin, has set up shop in India and has hired Anuj Mehta as its India head to source opportunities from the region.
The VC firm is looking to take seed to Series B bets on Indian companies with a cheque size ranging from $100,000-$10 million from its third fund, Yasin, who quit Tiger Global in 2013, told.
The fund, which has backed global companies such as Facily, Kitopi, Kueski and Gaia, already closed two deals in India recently. It invested in TradeX, an investment app, and SaveIn, a neo-bank, as part of their larger seed stage rounds raised in the last one month.
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