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Vedanta to invest ₹1.54 Tn in Guj🏭, 5ire acquires stake in Network Capital🎓, Twtr holders approve Musk's deal🤑
Vedanta to invest ₹1.54 trillion for chip making unit in Gujarat, 5ire acquires stake in Network Capital, Twitter shareholders approve $44bn Musk deal, Funding Deals and more.
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Vedanta to invest ₹1.54 trillion for chip making unit in Gujarat🏭
Oil-to-metals conglomerate Vedanta Ltd. along with Taiwan’s Foxconn on Tuesday signed a pact with the Gujarat government for investing ₹1.54 trillion to set up a semiconductor and display FAB manufacturing unit in the state.
As per the memorandum of understanding (MoU), Vedanta Displays Ltd. will setup the display FAB unit at an investment of ₹94,500 crore and Vedanta Semiconductors Ltd. will set up an integrated semiconductor manufacturing unit and OSAT facility for ₹60,000 crore. Foxconn will be the technical partner.
In addition to making India a global partner in the supply chain, the semiconductor fabrication unit will prove to be a game-changer for the economy.
Blockchain startup 5ire acquires stake in Network Capital🎓
Blockchain network 5ire has recently acquired a stake in career advancement platform Network Capital (NC). Network Capital will be rebranded as NC powered by 5ire and Utkarsh Amitabh has been named its chief marketing officer.
5ire , the 5th-generation blockchain network was founded by Pratik Gauri and Prateek Dwivedi, and web3 financier Vilma Mattila.
NC powered by 5ire is one of the world’s largest mentorship and career advancement platforms that empowers people to make a living doing what they love and teaching what they love.
Acquiring NC gives 5ire access to human capital and it will help 5ire build a talent pipeline and give access to best brains around the world.
91Squarefeet, a construction tech startup has raised $10 million in a Series A funding round led by Stellaris Venture Partners.
Procurement management software Procol has raised Rs 51 crore in funding from GMO Venture Partners, Alarko Ventures, Esas Ventures, FounderBank Capital, and Anchorage Capital.
PickMyWork, a startup that assists digital companies to acquire end customers, has raised $1 million in seed funding rounds led by SOSV's Orbit Startups.
Venture debt and alternative credit platform, BlackSoil Capital has invested over $8 million in Tonbo Imaging, Paras ARC and Dar Credit, as part of its investment strategy with a focus on deeptech and financial services sectors.
Most Twitter shareholders vote in favour of sale to Elon Musk: Report📈
A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said on Monday.
The deadline for the shareholder vote on the deal is Tuesday but enough investors had voted by Monday evening for the outcome to be certain, the sources said.
Shareholders were widely expected to vote in favor after a stock market downturn made Musk's $54.20-per-share deal for Twitter, which was signed in April, look pricey in the current environment. Twitter shares are now hovering around $41.
The Twitter vs Musk trial is scheduled to start on Oct. 17 in Delaware Chancery Court.
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