NORDIC FUND
Leo Capital closes first 25 million Nordic Fund; to invest in about 25 B2B tech startups
The funds raised from Business Finland Venture Capital and existing and new investors will be channelised to Nordic startups from the pre-seed stage onwards. The capital has primarily been raised from Business Finland Venture Capital and a range of returning and new investors from across the globe.
Why Africa is still waiting for mpox vaccines amid global health concerns
Africa was expected to receive its first 10,000 mpox vaccines, highlighting a slow global response compared to other regions. The WHO began the approval process only recently, hindering access for low-income countries. The U.S. donated the initial vaccine batch, as Africa struggled with the virus long before the new strain caused worldwide alarm.
Mpox vaccines are ready to ship, but aren't being sent. Why?
Congo has been desperate for mpox vaccines, but WHO's regulatory delays have prevented their distribution. With manufacturers ready to supply and cases surging, formal approval has only just begun. Critics claim WHO's slow response has obstructed efforts to combat the outbreak. Gavi is now actively seeking to fast-track vaccine procurement following a recent emergency declaration.
Oyo to use fresh funds for ‘enhanced business plan’ and global push
Oyo's shareholder approval includes issuing Series G CCCPS shares, as per the scrutiniser's report, to raise funds and increase authorized share capital.
Oyo's funding to finance global expansion, acquisitions: filings
ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo's authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.
Norway wealth fund to vote against Elon Musk's $56 billion Tesla pay package
Norway's wealth fund to vote on Musk's pay and directors' re-election at Tesla's annual meeting. The fund opposes Musk's $56 billion pay package, voided for being unfair to shareholders.
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Charting the global economy: Europe inflation picks up before ECB meeting
Inflation in Europe rose more than expected in May, with consumer prices up 2.6% from last year, surpassing April's 2.4%.
Oyo posts maiden annual net profit of Rs 100 crore in FY24: founder Ritesh Agarwal
Oyo reported its first profitable fiscal year in 2023-24 with a net earning of nearly Rs 100 crore. Founder Ritesh Agarwal highlighted growth prospects in key markets like Nordics, South East Asia, US, and UK. Fitch Ratings upgraded Oyo's credit rating, acknowledging its strong performance.
Tesla investor may put forward collective bargaining motion at AGM
KLP plans to address Musk's reluctance towards collective bargaining at Tesla's meeting amid Swedish strike disruption. Seeking response from Tesla, may escalate the issue with a shareholder proposal. Shares removed from sustainable funds.
Tesla strike in Sweden continues, union says, contradicting Elon Musk
Tesla mechanics strike in Sweden continues, drawing investor scrutiny and disrupting operations. IF Metall remains in dispute with Tesla over collective agreement, impacting Nordic investors and Tesla's operations in the country.
A publicly-funded, transparent model of campaign finance can be a start in the right direction
In a country the size of India where electoral fights are money-dependent, there are no magic formulas. Worse, any real change is likely to take decades, with several missteps on the way. Still, a public fund could be the start in that direction. Supreme Court has already set the tone by freezing electoral bonds
Tesla must respect collective bargaining rights, Norway's sovereign wealth fund says
U.S. auto maker Tesla Inc should respect fundamental labour rights, including collective bargaining, Norway's $1.5 trillion sovereign wealth fund, the world's biggest stock market investor, told Reuters on Friday.
EU founders and VCs turn to safer shores like AI on slump
European startups are making strides towards developing AI platforms that aim to compete with US-based companies, such as Open AI, in addition to building in areas such as quantum computing, chip design and semiconductors.
Agritech startup Ergos raises $10 million in funding led by Abler Nordic
The 2012-founded startup stores and digitises grains for farmers, and also converts these grains into tradable digital assets, which act as collateral for the farmers to borrow money from partner banks. Ergos has three banking partners that are currently active, including Shivalik Bank, with two more joining up in the coming weeks.
ETtech Deals Digest: Funding value down 74% this week as dismal run continues
Early-stage deals commanded the highest pie share, with $48.1 million out of the total $86 million funding tally.
Zerodha’s Nikhil Kamath invests Rs 100 crore in gaming company Nazara
Gaming and media firm Nazara Technologies on Monday said it is raising Rs 100 crore from Zerodha cofounder Nikhil Kamath, to make a push into the Indian game publishing space.
Nasdaq to sell debt worth $5 billion to fund Adenza deal
The $10.5 billion deal, announced earlier this month to help transform the exchange operator into a financial technology company, comprises $5.75 billion in cash and 85.6 million shares of Nasdaq common stock.
Freightify raises $12 million in funding from Sequoia Capital India, others
The company had previously raised $2.5 million in funding, bringing the total to $14.5 million raised so far.
Want to study abroad for free: Here’s all you need to know
There are various ways a student can study abroad for free. We have mentioned various aspects of doing that.
US government to provide $11 million for production of monkeypox vaccine
The Danish company, which is the maker of the only approved monkeypox vaccine, had earlier this month signed up Michigan-based Grand River Aseptic Manufacturing to package the two-dose shot. The production is expected to begin later this year, the U.S. Department of Health and Human Services said, adding that the funding will help the manufacturer recruit more staff and buy additional equipment.
US to declare monkeypox a public health emergency
The declaration would come from Health and Human Services (HHS) Secretary Xavier Becerra, who is expected to discuss the plan at an afternoon briefing, the Post reported. The declaration would free up additional funding, the Washington Post reported.
Monkeypox outbreak may boost the shares of these companies
“At the moment, the world is relying on one manufacturer, Bavarian Nordic, for the monkeypox vaccine,” said Manish Bhargava, a fund manager at Straits Investment Holdings Pte in Singapore. “To keep up with demand, we can expect other biotech firms to ramp up research and production. It’s starting to reflect in the strong stock price performance for the sector
Fintech startup Sewa Grih Rin raises $20 million in funding led by Norway-based NMI
The company plans to utilise the money to grow its loan book, work towards digitising its offerings and expand operations in Odisha, Jharkhand and other states.
Modi seeks Nordic investments in Blue Economy; invites sovereign wealth funds
Modi and Prime Ministers of Denmark, Iceland, Finland, Sweden and Norway participated in India-Nordic Summit at Christiansborg Palace in Copenhagen, Denmark on Wednesday.
PM Modi invites Nordic investment in Sagarmala
Modi and the PMs of Denmark, Iceland, Finland, Sweden and Norway participated in the summit at Christiansborg Palace in Copenhagen, Denmark, on Wednesday.
Norway boosts military spending by over 300 mn euros: minister
Norway on Friday announced it would provide an additional 3 billion Norwegian kroner (308 million euros) this year to strengthen its military forces in the north near the Russian border.
Freightify announces $2.5 million funding from Tradeworks VC, Venture Catalysts, others
Freightify aims to make it easier for small and mid-size freight forwarders with little to no technology expertise to set up an online storefront.
Nordic fund KLP divests from Adani Ports over links to Myanmar military
Adani Ports, India's largest port operator, has been under scrutiny from international investors over its project to build a container terminal in the city of Yangon on land leased from a Myanmar military-owned conglomerate.
Norway’s NMI, Carpediem invest in Delhi-based Sindhuja Microcredit
Sindhuja Microcredit has raised $4 million in Series A funding in March 2019 from Carpediem.
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