Starlink, the satellite internet constellation operated by SpaceX, plans to have 200,000 active terminals in India by December 2022, wrote Sanjay Bhargava, director of Starlink India, in a LinkedIn Publish Friday.
However, the process of obtaining approval is complex and “The actual figures may be well below 200,000”, he added.
“We will be working with rural constituencies that want 100% broadband,” Bhargava said in the post. “Most of this will be provided by terrestrial broadband, but hard-to-serve areas will be managed by Satcom providers like Starlink. “
Starlink has started accepting pre-orders for a fully refundable deposit of $ 99 (approx Rs 7,350). Pre-orders from India have exceeded 5,000.
ICICI Bank invests in Midland Microfin
ICICI Bank has taken a stake in Midland Microfin, an NBFC-MFI (non-bank financial company and microfinance institution), he said in an exchange document on Friday.
ICICI Bank’s investment of Rs 52.42 crore gives it 7.3% of the total share capital of Midland Microfin, and 9.9% of the share capital. Midland Microfin reported revenue of Rs 192.34 crore in fiscal 2021, up 4% from the previous year.
IndiaMart increases its stake in Mobisy
Indiamart Intermesh has invested Rs 10 crore in Mobisy Technologies to increase stake in company to 15.98 percent. “This investment is in line with its long-term goal of venturing into the software as a solution (SaaS) space,” the company said in an exchange brief.
Mobisy’s product, “Bizom”, provides sales force automation (SFA) and distributor management system (DMS) software for medium and large companies. It recorded a turnover of Rs 34.46 crore in fiscal year 2021.
IDBI Bank and U GRO sign a co-loan agreement
IDBI Bank and U GRO Capital signed a co-loan agreement to provide formal credit to micro, small and medium enterprises (MSME) at affordable rates.
IDBI will leverage U GRO’s technology platform which is driven by a data tripod including GST (Goods and Services Tax), banking and administrative services, and the reach of multi-channel distribution. “The co-lending would change the landscape of credit diffusion lending for MSMEs in India,” IDBI said in a statement.
L&T Technology Services Expands Intel AI Builders Program Offerings
L&T Technology Services (LTTS) will work with Intel to extend the AI Builders offering in its Chest rAI healthcare solution. This AI-Based Chest X-Ray Analysis System Will Use Intel’s Deep Technology Expertise to Improve Performance and Efficiency and improve patient care, LTTS said in a press release.
The company recently entered into a strategic engagement with Network 5C tele-radiology platform, which will use Chest rAI to provide radiologists with patient information while saving time.
Adani Green buys the assets of Essel
Adani Renewable Energy, subsidiary of Adani Green Energy (AGEL), has signed definitive agreements with Essel Green Energy to acquire a Special Purpose Vehicle (SPV) for Rs 219 crore.
The SPV has 40 MW solar projects in Odisha and has a long-term power purchase agreement with Solar Energy Corporation of India, with 22 years remaining.
After the acquisition, AGEL’s renewable capacity will be 19.8 GW. “We are on a path of expansion that will make us the world’s largest renewable energy player by 2030,” said Vneet Jaain, Managing Director and CEO of Adani Green Energy.
ABB launches world’s fastest charger for electric vehicles
ABB has launched the world’s fastest electric car charger because it plans to take advantage of the demand for electric vehicle charging infrastructure.
The Terra 360 modular charger can charge an electric car in less than 15 minutes or even less, and gives a maximum power of 360 kW. The charger can simultaneously charge four vehicles, ABB said in a statement.
It will be available in Europe from the end of 2021, and in the United States, Latin America and Asia-Pacific regions in 2022.