Investment

Vaccine maker the Serum Institute of India will be investing Rs 2,400 crore in Britain to support clinical trials, research and development along with vaccine manufacturing. The deal is a part of the India-UK enhanced trade partnership, which altogether involves an investment of Rs 10,000 crore. According to sources, SII's investment aims to create 6,500 new jobs and intends to generate new business worth over $1 billion in the UK.

US e-commerce giant Amazon has recorded a net profit of $363 million from its international business for the third financial quarter ended on December 31. The company witnessed a 54% hike in overseas sales accounting for $37 billion. Interestingly, it suffered a loss of $617 million in the same quarter last year. Reportedly, the pandemic-induced surge in online shopping and huge off-shore investments by the company were the reason behind the … read-more

App-based staff management service provider PagarBook has secured Rs 110-crore investment in order to improve its products and increase its portfolio. The Bengaluru-based start-up received the investment in Series A funding from Sequoia Capital and India Quotient. The start-up, which was launched in 2019, serves small and medium enterprises (SMEs) with an easy-to-use staff management app. The app is available in 11 Indian languages and has… read-more

Germany-based e-vehicle manufacturer Tier Mobility has attracted funds worth $250 million from SoftBank Group's Vision Fund 2. After the investment, the company has been ranked at the second position in e-motor companies, just under its rival Bird. Reportedly, the funds collected will be utilised for manufacturing smaller and less pollutant "micro-mobility" vehicles. Currently, the 2018-launched company has its market value just below $1… read-more

To increase its footprint in the Indian market, automaker Mercedes Benz has invested about Rs 400 crore in production line to facilitate domestic manufacturing of the company's cars. The investment has come in recent months only, with which the company's total investment in India stands at Rs 2,600 crore. Besides, to get the cost advantage over imported cars, the automaker has decided to manufacture AMG models in the country itself.