Venture capital funding in India hits $3.1 billion in fourth quarte: KPMG


With 294 deals, investment in India reached $3.1 billion in the fourth quarter of 2020, compared to $3.6 billion in the previous quarter, said a KPMG report.

While VC investment dropped somewhat during the fourth quarter of 2020, India saw the deal volume rise to its highest level since Q1 of 2018, according to the KPMG Private Enterprise Venture Pulse report for Q4 2020.

During Q4, home delivery, marketplace platforms, and e-commerce were the hottest areas of investment, attracting the majority of India’s funding rounds of $100 million or more, including a $200 million raise by marketplace platform Cars24 and a $660 million raise by food delivery company Zomato.

“There have been a number of sectors that have really benefited from the pandemic here in India. Interest in staples delivery – fresh food, groceries, and the likes – has grown quite significantly in recent months, in addition to online retail and gaming. That has driven a lot of investment,” Nitish Poddar, Partner and National Leader — Private Equity, KPMG in India, said in a statement.

“Then there’s edtech. It’s been an attractive area for VC

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Birla Corporation’s December quarter net profit jumps 82 per cent


recorded an 82.1 per cent (year-on-year) jump in net profit in the December quarter to Rs 148.42 crore on the back of a 3.2 per cent growth in sales by volume, cost rationalization and higher sales of premium products.

The company’s revenue for the December quarter at Rs 1,822.82 crore represented a five per cent growth, while EBITDA at Rs 375.94 crore was up 19.4 per cent over the same period last year. Cash profit for the December quarter at Rs 302.99 crore was up 39.5 per cent year-on-year.

Limited’s sales by volume for the December quarter rose 3.2 per cent to 3.55 million tonnes (mt), boosting capacity utilization to 92 per cent from 88 per cent in the same period last year.

The company said, capacity utilization for the December quarter was one of the highest in the industry and despite severe disruptions in the first quarter owing to the Covid 19 pandemic, it managed to boost its profitability.

Net profit for the nine months till December has grown 22.7 per cent over last year to Rs 380.81 crore. This was achieved

New Warning On Vaccine Supplies Sparks EU Concern


A warning from AstraZeneca that initial supplies of its Covid vaccinations to Europe will be lower than expected has sparked fresh concern over the rollout of inoculations, forcing some countries to plan for a sharp drop in deliveries.

Friday’s announcement by the British pharmaceutical firm followed another last week by Pfizer, which said it would delay shipments of its vaccine for up to a month due to works at its key plant in Belgium.

The companies’ warnings come amid deepening concern over new Covid-19 variants, particularly one that emerged in Britain and which is believed to be more infectious than the original strain.

Overall, Europe has now recorded more than 692,000 deaths and nearly 32 million infections.

A jogger runs across a road in Greenwich Park in south east London on January 23, 2021. England has been in a third nationwide lockdown since early this month

The European Union has so far approved vaccines from Pfizer and its German partner BioNTech as well as from US company Moderna. It has not yet approved the vaccine from AstraZeneca and its partner the University of Oxford, but is expected to make a decision by January 29.

AstraZeneca said

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