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Velocity raises $20 mn in funding round led by Peter Thiel's Valar Ventures

Velocity.in, a Bengaluru based fintech startup, said that it has raised $20 million in Series A funding led by Peter Thiel’s Valar Ventures, a US based VC firm. Launched in early 2020, Velocity has established revenue-based financing as a credible alternative to venture capital and traditional bank debt for e-commerce businesses in India. Armed with capital, the start-up has set its sights high and aims to deploy over Rs. 1,000 crore towards over 1,000 e-commerce businesses.

JSW Steel enters Dow Jones Sustainability Index

JSW Steel on Wednesday announced that it has been selected in the S&P Dow Jones Sustainability Index (DJSI) for the Emerging Markets for 2021. JSW Steel is one of the 15 companies from India and one amongst only three steel companies from emerging markets that have made it to the DJSI EM Index, which comprises 108 companies globally. The company has progressively improved its score across the three domains of environment, social and governance.

Healthtech start-up K&L Wellness raises Rs 30 crore in seed round

Health-tech start-up K&L Wellness Technology has raised a seed round of Rs 30 crore from angel investors Vimal Kedia and Surendra Kedia of Manjushree Ventures and Narendra Firodia of Sohamm Group. The company provides therapeutic based health solutions to lifestyle diseases like diabetes, hypertension, heart disease and obesity, among others, through yoga and meditation. K&L Wellness founders Karan Talreja and Luke Coutinho also run a health and fitness brand called RESET Life out of Mumbai and Bangalore.

IndiGo weighs charging fliers for check-in baggage as market heats up

IndiGo, one of Asia’s biggest budget carriers, is mulling charging passengers for checked-in luggage as the airline prepares for a potentially fierce price war in India’s cutthroat air travel market, which is showing signs of recovery following the worst of Covid. IndiGo, operated by InterGlobe Aviation Ltd., didn’t implement the so-called unbundling of fares in February -- just before a deadly wave of the pandemic hit the South Asian nation -- even as India’s Directorate General of Civil Aviation ruled that carriers can start offering zero baggage and no check-in baggage fares. Regulatory caps on fares and capacity related to Covid prevented IndiGo from taking a decision at the time, Chief Executive Officer Ronojoy Dutta said in an interview on Tuesday.

SpiceJet, Boeing settle related claims on grounding of 737 MAX jets

Indian budget airline SpiceJet said on Wednesday U.S. planemaker Boeing had agreed to settle the outstanding claims related to the grounding of its 737 MAX aircraft. The announcement from the country's second-largest airline comes a day after billionaire investor Rakesh Jhunjhunwala-backed Akasa Air placed an order for 72 Boeing 737 MAX jets valued at nearly $9 billion at list prices.

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