Indic Inspirations, a retail startup focused on indigenous products, has raised Rs 2.5 crore (around $344,537) in funding from a clutch of angel investors.
Participants in this fundraise include executives from Google’s United States operations, Goldman Sachs Singapore, and Venture Finance Development Corporation. A family venture fund, senior information technology executive, and entrepreneurs from the architecture and automobile spaces also participated.
Indic Inspirations, operated by Indic Inspirations Pvt Ltd, was set up in December 2019 by Sunil Jalihal, who is also the startup’s CEO. The company says it is targeting the Rs 10,000 souvenir market in the country.
It designs, manufactures, packages, markets and sells products in categories such as home décor, Indic souvenirs, and personal and corporate gifts.
The startup will use the capital it has raised to ramp up its platform by scaling aspects such as design, marketing, and distribution.
Pritish Nandy Communications
Tata Sons chairman emeritus Ratan Tata has picked up a stake in Pritish Nandy Communications Ltd, the company said in a stock exchange filing on Monday.
The stake has been acquired by Tata in his personal capacity through market purchases, the company said. It did not disclose the amount the Tata Trusts chairman has picked up or the amount he picked it up for.
Shares of Pritish Nandy Communications ended trading on Monday up 9.81% at Rs 23.5 apiece. The company reported consolidated net sales and post-tax profits of Rs 27.28 crore and Rs 1.3 crore, respectively, for the 2019-20 financial year.
Pritish Nandy Communications’ promoters and promoter groups collectively hold 50.73% stake in the company, per stock exchange data. The firm went public in 2000, and according to its website, produces movies, documentaries, and corporate films.