GopartReports

Butterfly Gandhimathi Appliances Ltd., a prominent player in South India's kitchen and small domestic appliances sector, has appointed Ms. Swetha Sagar as Manager and Chief Business Officer, effective June 15, 2024, pending shareholder approval. Ms. Sagar, with over 19 years of expertise in brand management, strategic planning, and business development, has previously held senior roles at Versuni India (formerly Philips Domestic Appliances), Hindustan Coca Cola, and Hutchinson Essar. This appointment follows the resignation of Mr. Rangarajan Sriram, who stepped down as Managing Director on June 14, 2024. Mr. Sriram, who has been with Crompton since 2012 and led Butterfly Gandhimathi Appliances Ltd. since its acquisition in March 2022, played a crucial role in the company's growth and integration.  Promeet Ghosh, MD & CEO of Crompton Greaves Consumer Electricals Ltd., which holds a 75% stake in Butterfly Gandhimathi Appliances Ltd., acknowledged Mr. Sriram’s sign

Hyderabad : Indkal Technologies Private Limited, one of India’s fastest-growing consumer electronics startups has raised $36 million (approximately 300 crores INR). The round was led by Mauritius based Aries Opportunities Fund at an undisclosed valuation. Bengaluru-based Indkal Technologies has had an unprecedented run of growth in the consumer electronics and appliances space since its inception in 2020 and had a landmark year in March this year, touching 1000 crores in gross revenue while remaining bootstrapped during this growth spree, which is unique in this space. The infusion of fresh capital was done through strategic investors to support superior product development infrastructure of products like Air Conditioners, Televisions, Washing Machines and Refrigerators through a new state of the art R&D facility. The new capital will also be utilised to enhance company’s product portfolio, expand distribution and setup a wider service network base. Indkal is one of the largest tra

Chennai's burgeoning startup scene gets a boost from Indian Overseas Bank (IOB) with the launch of its first exclusive branch for startups. Located on Anna Salai, Mount Road, the branch offers a one-stop shop for new ventures, providing a tailored suite of financial products and services. MD & CEO, Shri Ajay Kumar Srivastava, emphasized IOB's commitment to nurturing innovation. "This branch empowers entrepreneurs by tackling financial obstacles and aiding them in realizing their visions," he said. The branch launched the "IOB Start-up Current Account" and the "IOB Pragati" credit scheme, onboarding 35 startups on opening day. Leveraging its location, IOB has partnered with leading Chennai institutes to connect with established startups and offer guidance on financial aspects of their ventures. This initiative marks a significant step towards a flourishing startup ecosystem in India. IOB plans to open five more such branches nationwi