Local Manufacturing and Funding Initiatives in Pune: A Roundup

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LG Electronics India has recently opened a local manufacturing line of “side-by-side” refrigerators in its Ranjangaon facility, investing approximately ₹200 crore in the process. The facility is spread across 52.8 acres with an annual production capacity of 200,000 side-by-side units and will also manufacture TVs, washing machines, ACs, and monitors.

MeraTractor, a city-based startup and phygital marketplace catering to farm mechanisation products, has also raised ₹5 crore in pre-Series A funding, bringing total capital raised to ₹7.25 crore. The newly raised funds will be used to increase dealership network presence and enhance technology to organise supply channels.

FITTR, a tech-enabled community-first health and fitness platform, has announced the appointment of television actor and model Tanvi Malhara as its brand ambassador. The initiative aims to highlight the community, accountability, and creation of a group of like-minded people to do better in life and inspire others to do the same.

Badve Engineering Ltd has rebranded as Belrise Industries. With the advent of green technologies and the paradigm shift towards sustainability and net carbon neutrality, the strategic agenda of the company has evolved and the name Belrise is a coined word, bringing together the strength of their legacy and their dream for the future. Belrise specialises in automotive system and component manufacturing for the 2-wheeler, 3-wheeler, 4-wheeler passenger, and commercial vehicle segments.

Research Innovation Incubation Design Laboratory (riidl) Somaiya Vidyavihar celebrated National Startup Day with a Demo Day event, where more than 20 selected startups pitched directly to investors. A networking event for more than 200 startups was also organised by riddl.

The National Institute of Bank Management (NIBM), Pune and Bank of Mauritius, Port Louis, Republic of Mauritius have also executed a memorandum of understanding (MoU). Through the MoU, NIBM and the Bank of Mauritius will partner to provide offline/online executive education/training on topics related to credit, risk, stressed and non-performing asset management, international banking, compliance, leadership, information technology, analytics, human resources and other areas. It will also pave the way to undertake joint projects and research on subject areas of common interest, which will benefit the banking industry.