Starlink India targets 200,000 terminals by December 2022

Starlink, the satellite internet constellation operated by SpaceX, plans to have 200,000 terminals active in India in December 2022, Sanjay Bhargava, Director of Starlink India, wrote in a LinkedIn post on Friday.

However, the process of getting approval is complex, and "actual numbers may be much lower than 200,000,” he added.

"We will be working with rural constituencies who are keen to have 100 percent broadband," Bhargava said in the post. "Most of this will be provided by terrestrial broadband, but the hard-to-serve areas will be handled by Satcom providers like Starlink.”

Starlink has begun accepting pre-orders for a fully-refundable deposit of $99 (around Rs 7,350). Pre-orders from India have crossed 5,000.

ICICI Bank invests in Midland Microfin

ICICI Bank has picked up a stake in Midland Microfin, an NBFC-MFI (non-banking financial company and micro-finance institution), it said in an exchange filing on Friday.

ICICI Bank's investment of Rs 52.42 crore gives it 7.3 percent of Midland Microfin's total share capital, and 9.9 percent of the equity share capital. Midland Microfin reported revenue of Rs 192.34 crore in fiscal year 2021, which was 4 percent higher than in the previous year.

IndiaMart ups stake in Mobisy

Indiamart Intermesh has invested Rs 10 crore in Mobisy Technologies to increase its stake in the venture to 15.98 percent. “This investment is in line with its long-term objective of venturing into the software-as-a-solution (SaaS) space,” the company said in an exchange filing.

Mobisy’s product, 'Bizom', provides sales force automation (SFA) and distributor management system (DMS) software to medium-sized and large businesses. It recorded a turnover of Rs 34.46 crore in fiscal year 2021.

IDBI Bank, U GRO ink co-lending agreement

IDBI Bank and U GRO Capital have signed a co-lending agreement to provide formal credit to micro, small and medium-sized businesses (MSMEs) at affordable rates.

IDBI will leverage U GRO’s technology platform that is driven by a data tripod comprising GST (goods and services tax), banking and bureau, and multi-channel distribution reach. “Co-lending would change the lending landscape of credit dissemination 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 collaborate with Intel to expand the AI Builders offering in its healthcare solution Chest rAI. This AI-based chest X-Ray analysis system will utilise Intel’s deep-tech expertise to improve performance and efficiency and enhance patient care, LTTS said in a press statement.

The company recently entered into a strategic engagement with tele-radiology platform 5C Network, which will use Chest rAI to empower radiologists with patient insights while saving time.

Adani Green to take over Essel assets

Adani Renewable Energy, a 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 owns 40 MW solar projects in Odisha, and has a long-term power purchase agreement with Solar Energy Corporation of India, with 22 years remaining..

Post-acquisition, AGEL's renewable capacity will be 19.8 GW. "We are on an expansion path that will make us the world’s largest renewable player by 2030,” said Vneet Jaain, Managing Director and CEO of Adani Green Energy.

ABB launches world's fastest charger for EVs

ABB has launched the world's fastest electric-car charger, as it plans to leverage the demand of electric- vehicle charging infrastructure. 

The Terra 360 modular charger can charge an electric car in less than 15 minutes or less, and gives a maximum output 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 USA, Latin America and Asia-Pacific regions in 2022.