Insight

Under the National Technical Textiles Mission (NTTM), the Center has granted funding of INR 50 Lakh each for seven firms in the technical textiles sector in an effort to promote innovation and sustainability.

WeWork India, a provider of flexible workspaces, just established its first co-working space in Chennai at Olympia Cyberspace in Guindy. This is the company's 55th location nationwide.

In addition to announcing the expansion of its global Generative AI Accelerator, which aims to support 80 founders and innovators—20 of whom are from Asia-Pacific and Japan (APJ)—with technical and business programming specifically designed for startups in this field, Amazon Web Services Inc. (AWS) also announced a US$230 million commitment to generative AI startups.

Brookfield Asset Management and Alterra Management Limited announced the launch of the Catalytic Transition Fund focused on directing capital into clean energy and transition assets in emerging economies.

The wealth management site ET Money, owned by Times Internet, has been acquired by the wealth and alternates firm 360 One (previously IIFL Wealth) for around Rs 365.8 crore ($44 million).

TWID and GoKwik have teamed up to extend reward and loyalty schemes throughout the network of GoKwik's D2C brands.

The first fund of Hyderabad-based Pavestone Venture Capital received INR 15 Cr, or approximately $1.8 million, from Colruyt Group India, the engineering division of Belgian grocery and food retailer Colruyt Group.

In a Series A round-headed by Peak XV Partners and Steadview Capital, advanced manufacturing firm Ethereal Machines has raised $13 million.