Hero Electric Vehicles raises US$29M

Investors: Gulf Islamic Investments (lead), OAKS

What the funding will be used for: Expanding production capacity, consolidating market position to strengthen market leadership, and invest in technology to grow footprint across India-like markets.

The company will also direct this investment towards the objective of further supporting the EV industry and ecosystem.

More about the story: To achieve the vision of exponential growth and double sales every year, the company plans to make significant additions to its manufacturing capacity by setting up multiple plants over the next couple of years.

It will also focus on India-centric, flexible, and cost-effective innovations that will drive the growth of electric mobility which is in line with making India the EV hub of the world.

“The EV market has undergone tremendous change over the last few years since we raised our first round of funding. The policies are extremely conducive for the growth of the segment and despite the pandemic, the company is poised to grow at over 2X from the last fiscal. Hero aims to sell over 1 million units per year in the next couple of years,” said Naveen Munjal, Managing Director, Hero Electric.

theAsianparent appoints Fiza Hasan Malhotra as Chief Branding Officer

More about the story: Prior to her current role Hasan was the head of business development and corporate innovation at Impact Hub Singapore. She has also worked for global brands Credit Suisse, Space Matrix, and Citibank.

Also Read: Ecosystem Roundup: AirAsia is set to fly higher, Bukalapak looks for the largest IPO in IDX history

“My goal is to put theAsianparent Group and its core brands on the path of global market leadership, powered by authentic brand experiences delivered to our community of parents, employees, clients, and our current and future stakeholders,” she said.

About theAsianparent Group: An online magazine for parents that helps them in parenting their children.

Virtual Internships raises US$2.5M led by Sequoia India’s Surge.

Other investors: 500 Startups, iSeed, Art Impact, and Hustle Fund.

About the company: Based in London, Virtual Internships provides global work experience programmes for young people to kick-start their careers in a borderless world.

The company aims to widen participation and provide access to jobs for students of all backgrounds and nationalities.

More about the startup: The platform claims to have seen a rise in the number of student sign-ups from 100 students in 2019 to 1,700 in 2020, and over 6,000 are set to take part in 2021.

It also has the participation of 4,000 host companies across 70 countries, and over 100 universities and educational institutions worldwide.

“Digitalisation has completely accelerated the way we work with people across the globe and internships should mirror this pattern. With a focus on accessibility, diversity, and clear learning outcomes, we’ve redesigned the internship experience for a new, virtual and borderless world,” said Daniel Nivern, co-founder of Virtual Internships.

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