Cairo-born and Dubai-based mass transit and shared mobility services provider SWVL has carried out its second round of layoffs affecting 50% of its remaining headcount, according to a statement shared by the company. The news is coming six months after SWVL laid off 32% of its workforce in a “portfolio optimization program” effort geared towards… Continue reading SWVL reduces its headcount by 50% six months after axing 400+ staff
Category: Tech News
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Tesla is reportedly working on a redesigned Model 3
/ A Reuters report indicates a new Model 3 is in the works that should reduce costs and increase the appeal of the five-year-old sedan. A preproduction Tesla Model 3 as revealed in 2016.Photo by Chris Ziegler Tesla reportedly has a new Model 3 design in the works, according to four sources speaking to Reuters… Continue reading Tesla is reportedly working on a redesigned Model 3
Nearly a thousand Vietnamese EVs are on their way to the US
/ VinFast aims to become a major EV hub for the North American and European markets. A batch of the company’s first EV, the VF 8, is now on its way to California. VinFast sent a batch of 999 electric vehicles to the US.Image: VinFast VinFast, the Vietnamese electric vehicle manufacturer, is shipping its first… Continue reading Nearly a thousand Vietnamese EVs are on their way to the US
Indian PE Motilal Oswal Alternates invests $56m in Shapoorji Pallonji Real EstateThe PE firm’s cumulative AUM for real estate currently stand at over …
India-focused fund manager Motilal Oswal Alternates has invested Rs 450 crore (about $56 million) in two projects of Shapoorji Pallonji Real Estate, per an announcement. While one is a commercial project, the other is a residential township. The commercial one called SP Infocity is located near Manesar in Gurugram. It is partially completed, operational and… Continue reading Indian PE Motilal Oswal Alternates invests $56m in Shapoorji Pallonji Real EstateThe PE firm’s cumulative AUM for real estate currently stand at over …
PE giant Carlyle raises more than $3b for pan-European tech fund
US buyout firm Carlyle Group has raised more than three billion euros ($3.12 billion) for a pan-European technology fund that is taking advantage of “pockets of life” in the economy, the co-heads of Carlyle Europe Technology Partners told Reuters. Focused on lower mid-market and growth technology companies across Europe, the fund, called CETP V, has… Continue reading PE giant Carlyle raises more than $3b for pan-European tech fund
Evergrande aims to win approval for restructuring proposals by March
Embattled property developer China Evergrande Group aims to win creditors’ approval for its debt restructuring proposals by as early as the end of February, the company’s lawyers said on Monday. Once China’s top-selling developer, Evergrande is now at the centre of the country’s property crisis. Its $22.7 billion of offshore debt, including loans and private… Continue reading Evergrande aims to win approval for restructuring proposals by March
Check out this library of obsolete sounds, including plenty of clips of old tech
Gadgets/ Tech / The project wants to ‘draw attention to the world’s disappearing soundscapes.’ Obsolete Sounds is a new project that its creator Cities and Memory claims is “the world’s biggest collection of obsolete and disappearing sounds.” It consists of over 150 sounds that are increasingly rare, ranging from sounds used in retro video games,… Continue reading Check out this library of obsolete sounds, including plenty of clips of old tech
Cargill-backed Proterra Asia closes Food Fund 3 at over $200mFood Fund 3 was launched in May 2019 but closed only on Oct 26, 2022.
Proterra Investment Partners’s Asian subsidiary, Proterra Asia, has closed its third food fund at over $200 million, according to a statement. The food and agribusiness-focused private equity firm drew in limited partners (LPs) from institutional investors, international and regional foundations, and family offices from Europe and Asia. The Development Bank of Japan (DBJ) also joined… Continue reading Cargill-backed Proterra Asia closes Food Fund 3 at over $200mFood Fund 3 was launched in May 2019 but closed only on Oct 26, 2022.
PAG, Platinum among bidders for Advent’s stake in Singapore tuition chain
Private equity firms PAG and Platinum Equity are among bidders vying for Advent International’s stake in Singaporean tuition chain The Learning Lab that could fetch up to $500 million, two sources with knowledge of the matter told Reuters. The sale process, which is being run by Rothschild & Co, has entered a second round of… Continue reading PAG, Platinum among bidders for Advent’s stake in Singapore tuition chain
India Digest: Simplilearn acquires Fullstack; PhonePe to buy ZestMoney
Blackstone-backed Simplilearn has acquired US-based Fullstack Academy, while Flipkart-owned PhonePe is understood to be acquiring ZestMoney. Simplilearn acquires US edtech firm Fullstack Simplilearn, a higher edtech platform backed by private equity firm Blackstone, has acquired US-based bootcamp education company Fullstack Academy. The acquisition will help the Indian startup strengthen its presence in North America at… Continue reading India Digest: Simplilearn acquires Fullstack; PhonePe to buy ZestMoney