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Ashneer launches fantasy sports app CrickPe

Ashneer Grover launches fantasy sports app CrickPe ahead of IPL.(photo:@Ashneer_Grover/TWitter)

Former BharatPe Co-founder and Managing Director Grover and his wife Madhuri Jain Grover launched CrickPe to grab a pie of the growing fantasy sports market…reports Asian Lite News

Ahead of the Indian Premier League (IPL) 2023 that begins from March 31, Ashneer Grover’s new venture Third Unicorn has launched a fantasy sports app called CrickPe that aims to take on Dream11 and Mobile Premier League (MPL).

“Biggest revolution in Cricket since IPL – only fantasy game paying cricketers for performance. Where you win, cricketer wins, cricket wins,” Grover said in a tweet.

CrickPe will levy a 10 per cent platform fee of the total funds received for any public or private contest.

It allows players above 18 years of age to create a virtual team of cricket players and enter paid contests to earn cash prizes.

“It is the only fantasy cricket app in the world where with every match, the actual playing cricketers, cricketing bodies and real team owners win cash rewards, along with the fantasy game winners,” according to its description on Google Play Store.

The online fantasy sports market is currently dominated by Dream11.

Former BharatPe Co-founder and Managing Director Grover and his wife Madhuri Jain Grover launched CrickPe to grab a pie of the growing fantasy sports market.

According to a report by the Federation of Indian Fantasy Sports (FIFS) in collaboration with Deloitte, India’s fantasy sports market is likely to grow from Rs 34,600 crore in FY21 to an estimated Rs 1,65,000 crore by FY25, registering a CAGR of 38 per cent.

India is the world’s biggest fantasy sports market with a user base of more than 13 crore.

Grover’s Third Unicorn has been building a “market shaking” business which is “bootstrapped” and “without limelight”, according to a recent LinkedIn post by Ashneer.

According to data accessed through Tofler, the Grovers last year registered the new company. The firm had a total paid-up capital of Rs 10 lakh and an authorised share capital of Rs 20 lakh.

Grover had said he was planning to start his own venture without seeking funds from the investors.

Delhi HC issues summons to Ashneer Grover

The Delhi High Court on Friday issued summons to BharatPe’s former Managing Director Ashneer Grover in connection with a case filed by fintech company’s co-founder Shashvat Nakrani over claims of unpaid shares.

Representing Nakrani, senior advocate Neeraj Kishan Kaul contended that in case filed by co-founder Bhavik Koladiya on the same lines, the court has issued summons and has asked Grover to not create any third-party rights in respect of the shares in BharatPe.

The High Court had, on January 18, told Grover to file an undertaking in a week’s time and restraining him from creating any third-party rights over the shares.

Appearing before the bench of Justice Sachin Datta, Kaul said that it is Grover’s stand that he has paid for the shares in cash.

The court noted that the case was filed about five years after the shares were stated to have been transferred while Kaul argued for an interim relief.

Lawyer Giriraj Subramanium, Grover’s counsel, was questioned by Judge Datta if he was prepared to make a statement that no third-party rights would be created over the shares.

To this, Subramanium said that he has instructions not to make such a statement.

Justice Datta then listed the case for the next hearing on March 28, on the issue of interim relief sought by Nakrani.

“Plaintiff has been heard at some length in the interim relief application. Counsel for the defendant says they don’t want to file a response to the application. List on Tuesday for further arguments,” the court ordered.

The judge also issued notice on Nakrani’s application seeking to file some documents in a sealed cover.

Koladiya’s suit seeking to reclaim trasferred shares remains pending before another bench of the High Court.

BharatPe(Photo:Instagram)

In the Koladiya’s case, when the court had earlier asked Grover to not create any third-party rights over the shares, he had informed the court that subject to further directions from the court, he will not make any third-party interest in the 16,110 shares that Koladiya transferred to him and in any rights that accrue to him as a consequence thereof.

A single-bench judge Justice Prateek Jalan had ordered that Grover will be bound by his statement and directed him to file the undertaking.

The court had also served summonses on Grover and the fintech company, giving the former four weeks to respond to the application for an ad interim injunction and two weeks for a rejoinder to the same.

The bench had noted: “D1 (Grover) is bound to the aforesaid statement and is directed to file an undertaking to this effect within one week from today. Reply to application in four weeks, rejoinder in two weeks thereafter.”

Nakrani and Koladiya founded the fintech company in 2017. In 2018, Grover joined the company as the third co-founder.

ALSO READ-Major rejig at realme

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Major rejig at realme

Realme is set to make the India announcement as soon as possible, as the domestic smartphone market goes through a churning…reports Asian Lite News

Global technology brand realme is set to replace India business head Madhav Sheth with a top executive from its China-based headquarters, reliable sources said on Thursday. Sheth may quit the company once the official statement is made soon.

The move, according to industry insiders, does not augur well for the company which cemented its position in a market which is highly-competitive at the mass level, with Sheth, as its India business lead, became the sole face of the company within a short span of time.

According to sources, realme is set to make the India announcement as soon as possible, as the domestic smartphone market goes through a churning.

Sheth, being a veteran in the field, clearly has a command over the local market dynamics — something that the upcoming Chinese executive may not have in his kitty.

Another worry for realme, according to industry insiders, is that a Chinese national at the helm may send negative signals to the Indian government which is already after Chinese-run businesses, especially smartphone vendors, which were allegedly involved in tax evasion running into thousands of crores.

Sheth, currently the CEO of realme India, VP, realme and President, realme International Business Group has been at the forefront of creating consumer products with trendsetting technologies, features and designs.

An award-winning global business leader with over 17 years of experience, he spearheads the company’s strategy development, product engineering, business development, market operations and brand-building initiatives alongside others.

Sheth is fully responsible for realme’s overseas business operation, reporting directly to the founder and CEO of realme, Sky Li.

realme GT 2 series set to launch on Jan 4

On May 4, 2018, realme was officially established by its founder Li and Sheth in India.

Sheth focused on the development of AIoT devices and smartphones for Indian consumers, with the goal of improving their lives by inventing fashionable and high-tech lifestyle smart products.

Under his leadership, realme India diversified into AIOT products with Smart TVs, Smart wearables and Smart hearables; strengthened mainline presence across the country with realme exclusive stores; enhanced ‘Make in India’ commitment with local manufacturing and exports to Nepal region, and popularised adoption of 5G-enabled smartphones.

realme emerged as the third biggest smartphone brand in India in Q1 2022, and the fastest growing major 5G brand globally in Q4 2021, clocking a 165 per cent growth in global 5G smartphone shipments.

The company climbed to the second slot for a second time, with a strong YoY growth of 24 per cent (highest among top five vendors) in Q2, 2022, as per IDC. It grew 2 per cent (on-quarter) in the third quarter last year, according to Counterpoint Research.

realme cemented its second position in the online channel with 23 per cent share with affordable model offerings in the C-series.

realme is the No. 5 Android smartphone brand globally and the youngest brand to achieve 100 million sales globally within 37 months.

In the next five years, his objective was to accomplish realme as the most adored tech-lifestyle brand across the country.

ALSO READ: IFC to invest Rs 600 cr in Mahindra’s new EV firm

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India set to cross $10 bn worth mobile exports

India gains 26 spots on mobile download speeds globally

Apple’s ‘Make in India’ smartphone now constitute 50 per cent of total exports….reports Asian Lite News

Buoyed by attractive government incentives towards local manufacturing, India is all set to reach a remarkable $10 billion (over Rs 82,000 crore) worth smartphone exports in the fiscal year ending March 31, industry data showed on Wednesday.

According to the India Cellular and Electronics Association (ICEA), Apple’s ‘Make in India’ smartphone now constitute 50 per cent of total exports.

Samsung is second with 40 per cent mobile exports while other smartphone players constitute 10 per cent export share.

Smartphone exports from India have doubled from a corresponding period from last fiscal year, driven by production-linked incentive (PLI) schemes.

The top five global destinations India currently exports mobile phones to are the UAE, the US, the Netherlands, the UK and Italy, according to the ICEA data.

“Efficacy and maturity of an industry is only judged with robust exports. Mobile phones policy and outreach initiatives have been relentless and the results are in front of us,” Pankaj Mohindroo, Chairman of ICEA, told IANS.

“The mobile phone industry will cross $40 billion manufacturing output and 25 per cent exports at $10 billion is a stellar performance,” he added.

Reports surfaced earlier this year that Tim Cook-led Apple will quickly shift some of its China manufacturing to India and Vietnam in the next 2-3 years.

India is likely to produce 45-50 per cent of Apple’s iPhones by 2027, at par with China, where 80-85 per cent of iPhones were produced in 2022.

According to estimates by DigiTimes research analysts, India and Vietnam are to become the biggest beneficiaries of smartphone supply chain migration out of China.

India accounted for 10-15 per cent of iPhones’ overall production capacity at the end of 2022.

Apple became the first smartphone player in India to have exported $1 billion worth iPhones in the month of December. It currently manufactures iPhones 12, 13, 14 and 14 Plus in the country.

According to Mohindroo, the country is now moving in a different direction, “which is largely export-focused and led by the government’s performance-linked scheme (PLI) push”.

The government is also working to strengthen the electronic manufacturing ecosystem beyond mobiles to boost its global share in hearables and wearables, IT hardware and electronic components etc.

ALSO READ: Gujarat, Google ink deal to realise Digital India dream

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Business India News Uttar Pradesh

UP to support women entrepreneurs

Wadhwani Foundation salutes the indomitable spirit of women entrepreneurs in India.

The MSMEs coming up in Purvanchal and Bundelkhand regions of UP will be eligible for 100 per cent exemption on stamp duty….reports Asian Lite News

The Uttar Pradesh government will be offering incentives to women entrepreneurs who get into manufacturing in the state.

This will be a major push for Mission Shakti.

The micro, small and medium enterprises (MSMEs) coming up in Purvanchal and Bundelkhand regions of UP will be eligible for 100 per cent exemption on stamp duty.

Releasing the key exemptions being offered under the UP MSME Promotion Policy 2022, the government has announced that the state has been divided into five regions to encourage entrepreneurship in the manufacturing sector and will provide subsidies under various slabs.

The five regions in the state are going to be Purvanchal (revenue divisions of Prayagraj, Varanasi, Mirzapur, Azamgarh, Basti, Gorakhpur, Devipatan and Faizabad), Bundelkhand (revenue divisions of Chitrakoot Dham and Jhansi), Pashimanchal (revenue divisions of Agra, Aligarh, Moradabad, Meerut, Saharanpur and Bareilly), Madhyanchal (revenue divisions of Lucknow and Kanpur) and the fifth being Ghaziabad and Gautam Buddha Nagar districts in the national capital region.

While 100 per cent exemption in stamp duty is going to be offered in Bundelkhand and Purvanchal regions, in Madhyanchal and Pashimanchal 75 per cent of the stamp duty is going to be refunded.

In Ghaziabad and Gautam Buddha Nagar that comprises the industrial towns Noida and Greater Noida, only 50 per cent rebate is going to be offered.

“But if a woman entrepreneur opens a unit, she is going to get a 100 per cent rebate anywhere in the state,” a senior government officer said.

Similarly, if an industrial park, estate, flatted factory complex is set up over 10 acre or more, the government is going to offer 100 per cent rebate.

“The investing units will have to provide a bank guarantee equivalent to the amount of exemption due to the entrepreneur which is going to be released after the unit starts production,” the officer added.

ALSO READ: Gardens of India forays into e-commerce space

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How UPI is driving India’s e-com market

UPI.

UPI recorded the biggest year-on-year growth of 74.1 per cent in transaction volume as of January 2023…reports Asian Lite News

As unified payments interface (UPI)-based transactions continue to break all records, India’s e-commerce market is projected to grow from $83 billion in 2022 to $150 billion in 2026, as cash transactions decline further, a report showed on Thursday.

UPI recorded the biggest year-on-year growth of 74.1 per cent in transaction volume as of January 2023 and digital wallets grew from 5 per cent in 2019 to 35 per cent of POS value in 2022 stimulated by UPI, according to the ‘2023 Global Payments Report’ by global financial technology leader FIS.

With cash use declining from 71 per cent of POS transaction value in 2019 to just 27 per cent in 2022, India has emerged as a global leader in payments with the development of its next-generation real-time payments (RTP) infrastructure.

UPI has helped e-commerce account-to-account (A2A) payments grow to $12 billion, up 53 per cent from 2021 to 2022, the findings showed.

“UPI is driving consumers away from cash and helping to drive financial inclusion all at the same time, and is making India a leader in payments across not just the region, but the globe,” said Phil Pomford, General Manager APAC, Worldpay Merchant Solutions at FIS.

Strong development of e-commerce in rural areas of China.

The development of real-time payment schemes by other central banks — and, critically, the cooperation between those central banks — is also helping to fuel cross-border commerce, providing merchants with a significant opportunity for growth moving forward, he added.

While cash is still there, increasingly a majority of peer to peer transactions are done through UPI.

According to the data, cash is expected to decline by 34 per cent in transaction value by 2026 and digital wallets are expected to rise in transaction value by 88 per cent by 2026.

In the online space, the ecommerce market size is expected to grow by 82 per cent by 2026 providing a greater boost to digital payments.

The Reserve Bank of India (RBI) governor Shaktikanta Das said earlier this month that payments through UPI grew exponentially in the past 12 months, with daily transactions crossing 36 crore, from 24 crore in February 2022. In value terms, these transactions were worth Rs 6.27 lakh crore.

ALSO READ: Mukesh Ambani 9th wealthiest in the world

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Business

Mukesh Ambani 9th wealthiest in the world

For the third consecutive year, Ambani retained the wealthiest Asian title….reports Asian Lite News

Despite an erosion of 20 per cent or $21 billion in wealth, Reliance Industries’ Chairman and Managing Director Mukesh Ambani continues to be at the top 10 wealthiest individuals in the world with a wealth of $82 billion, states the 2023 M3M Hurun Global Rich List.

For the third consecutive year, Ambani retained the wealthiest Asian title.

With a 35 per cent decrease or $28 billion in wealth to $53 billion, Gautam Adani & family, of Adani Group slipped to 23rd rank in the world’s wealthiest from the last year’s second rank.

Adani also lost the second richest Asian title in 2023.

A report in January by US short-seller Hindenburg led to Adani seeing his wealth down by more than 60 per cent from his peak.

Last year, it was said that Adani topped the list by adding Rs 1,600 crore per day over 2022.

The other Indian billionaires who figure in the world’s top 50 richest are: Cyrus Poonawalla (global rank 46, wealth $27 billion), and Shiv Nadar and family (rank 50, $26 billion).

Interestingly, barring Poonawalla whose wealth went up by 4 per cent, the wealth of all other Indian billionaires in the global top 100 wealthiest had seen an erosion.

In stark contrast to the 2022 M3M Hurun Global Rich List, India is at the top of the league table when it comes to wealth depletion.

When countries such as China and the US had 178 and 123 billionaires, respectively, who lost more than $1 billion, India has 41 billionaires who lost more than a billion-dollar YoY in 2023 M3M Hurun Global Rich List.

In terms of number of billionaires who have added $1 billion or more over the last year, India occupies sixth rank in the list.

India added 16 billionaires and occupies the third spot, comfortably ahead of Italy which added 9 billionaires in this year’s list.

The richest new entrant from India, Rekha Rakesh Jhunjhunwala & family, tops the list of top 16 new Indian entrants in 2023 M3M Hurun Global Rich List.

Over the last 5 years, Indian billionaires in 2023 M3M Hurun Global Rich List added circa $360 billion to their cumulative wealth – equivalent to Hong Kong’s GDP.

“M3M Hurun Global Rich List 2023 tells the story of the current global economy through the eyes of the entrepreneurs,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

“At a critical point in history, when India’s GDP is poised to double by the end of the decade, we are excited about celebrating and benchmarking wealth creation in India with the rest of the world,” said Pankaj Bansal, Director, M3M India.

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Gardens of India forays into e-commerce space

The brand aims to provide consumers with a taste of the rich and diverse flavours of India’s gardens while supporting local communities and promoting sustainable agriculture…reports Asian Lite News

Gardens of India, a homegrown brand for tea, spices, and foods, is excited to announce the official launch of its ecommerce website on March 22nd, 2023. The brand is committed to establishing a strong presence in both the domestic and global markets with its dedication to excellence, authenticity, and quality.

At Gardens of India, authenticity, purity, and flavour are at the core of every tea and spice blend. They are carefully sourced from the finest farms and estates in the country with a focus on ethical and sustainable practices. The brand aims to provide consumers with a taste of the rich and diverse flavours of India’s gardens while supporting local communities and promoting sustainable agriculture. “We are delighted to launch Gardens of India, a brand that embodies the essence of our country’s natural beauty and cultural heritage. Our products are carefully curated to offer consumers the best of Indian flavours, from the iconic chai to the subtle spices used in our cuisine,” said Jaivardhan Agarwal, CEO of Gardens of India.

“We believe that Gardens of India has the potential to become a global ambassador for Indian food and drink, and we look forward to sharing our passion with customers around the world. Our range of tea and spices is crafted to bring the best of India’s gardens to global consumers, and we are confident that our products will be loved and enjoyed by all,” added Agarwal.

The brand’s new range of luxury cotton tea bags is designed to offer customers the ultimate tea experience. Made using the finest quality cotton, the bags allow the tea to steep and release its natural flavours and aromas.

Strong development of e-commerce in rural areas of China.

“We understand the importance of convenience and quality when it comes to tea. Our luxury cotton tea bags are designed to provide customers with an effortless way to enjoy our range of teas, without compromising on the quality of the brew,” said Agarwal.

Gardens of India is also launching its website, https://gardensofindia.in/ , which will provide customers with a seamless shopping experience. The website will offer customers the opportunity to purchase the brand’s products online, with fast and reliable shipping options available across the globe.

“We believe that our website will be a game-changer for Gardens of India. Our aim is to make it easy for customers around the world to access our products, and to showcase the beauty and diversity of India’s gardens,” said Agarwal.

Gardens of India has already established a reputation for excellence in the domestic market and is now looking to expand its reach globally. The brand’s commitment to quality, authenticity, and sustainability has already set it apart from its competitors and positioned it as a leading player in the industry.

“We are excited to introduce Gardens of India to the global market and offer consumers a taste of India’s rich culinary heritage. Our products are not just about taste but also about culture, tradition, and sustainability. We believe that this unique combination will set us apart and establish us as a leading brand in the global market,” concluded

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IFC to invest Rs 600 cr in Mahindra’s new EV firm

Automobile major Mahindra & Mahindra.(photo:IANS/Twitter)

The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo…reports Asian Lite News

Global development institution IFC will invest Rs 600 crore in a new last-mile mobility (LMM) company, a wholly-owned subsidiary of Mahindra & Mahindra that will be newly incorporated (NewCo), it announced on Wednesday.

IFC’s first investment in an EV manufacturer in the country, and the first in electric three-wheelers globally, will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore.

The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo.

NewCo will house the last mile mobility division, including three wheelers (Alfa, Treo, Zor) and four-wheeler SCV (Jeeto).

“With the electrification of the last mile mobility business at scale, we will move a step further in our commitment to be aPlanet Positive’ by 2040. This also presents a tremendous opportunity for growth for micro and women entrepreneurs,” said Anish Shah, MD and CEO, Mahindra & Mahindra.

India has committed to reducing its emissions profile by 45 per cent by 2030, and simultaneously aims to achieve 80 per cent EV penetration for two-and three-wheelers, 70 per cent for commercial vehicles and 30 per cent for private cars in the same time-frame.

“India is the largest three-wheeler market globally, and this investment marks a significant step towards scaled domestic production of electric vehicles catering to this segment, as well as small commercial vehicles,” said Hector Gomez Ang, IFC’s Regional Director for South Asia.

According to Rajesh Jejurikar, Executive Director and CEO (auto and farm sector), Mahindra & Mahindra, being the market leaders in this segment: “We have an opportunity to drive higher EV penetration in this segment and provide a more sustainable as well as profitable option to microentrepreneurs”.

IFC, a member of the World Bank Group, works in more than 100 countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries.

ALSO READ: TN to launch Millet Mission

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Business India News Tech Lite

Gujarat, Google ink deal to realise Digital India dream

Gujarat Chief Minister said that while Gujarat is a hub for young entrepreneurs, Google is eager to take the world by storm with this partnership with Gujarat…reports Asian Lite News

The Gujarat government on Wednesday signed an important strategic Memorandum of Understanding with global technology major Google, through which they will jointly equip Gujarat’s rural women, school-going children and young entrepreneurs for socio-economic transformation through the use of information technology and internet access.

The memorandum was signed in the presence of Gujarat Chief Minister Bhupendra Patel and Vijay Nehra, Secretary, Science Technology and Sanjay Gupta, Vice President and Country Head of Google. Approximately fifty thousand people will be provided training every year.

“Not only this, training sessions will be organized to increase the capacity building-skill of children-students and youth along with increasing digital literacy among rural women,” a release said.

Chief Minister Bhupendra Patel said that Gujarat has a strong ICT (information and communications technology) infrastructure which has been developed due to the new IT and ITES Policy 2022-2027. The chief minister said that Prime Minister Narendra Modi has brought the best in the world to Gujarat and the state government has realized it through various policy initiatives.

Gujarat CM also assured full support of the state government to Google to associate the name of Google with Gujarat and to ensure that Gujarat, which the CM termed as the growth engine of the country.

It is necessary to point out here that the Department of Science and Technology of the Government of Gujarat has signed 3 MoU with Google in the past and more than 10 thousand women, school children, young developers have benefited from these training programs.

On the occasion, Sanjay Gupta, Country Head and Vice President of Google, appreciated the overall development in the IT sector in the state and especially the activities of Science City.

He said that while Gujarat is a hub for young entrepreneurs, Google is eager to take the world by storm with this partnership with Gujarat.

Gupta called children and women as the foundation of a bright future and also said that IT has extended to the rural level in Gujarat will give new direction to this strategic

ALSO READ: Meet 2 Indian entrepreneurs making their mark in 2023

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Meet 2 Indian entrepreneurs making their mark in 2023

Founded by Global Indian investor, Biswanath Patnaik and UK-based Indian entrepreneur, Arun Kar, FINNEST is an early-stage Private Equity investment firm that invests in visionaries with disruptive ideas…reports Asian Lite News

Two UK-based Indian Investors Biswanath Patnaik and Arun Kar got featured in Forbes.mc magazine in one of their latest print editions. These two Indians made it to the cover page of the Forbes International Magazine brand.

Founded by Global Indian investor, Biswanath Patnaik and UK-based Indian entrepreneur, Arun Kar, FINNEST is an early-stage Private Equity investment firm that invests in visionaries with disruptive ideas. FINNEST brings more than just capital and is focused on Renewables, EVs and Hydrogen Locomotives, Innovative Technology, Consumer Market Places, Fintech, Smart Cities and Public Sector. FINNEST is governed by eminent industry experts from banking, technology, healthcare, renewables, and is led by partners, who have been founders and CEOs of successful companies, and who have domain expertise ranging from banking to telecom to consumer marketplaces.

Keeping new technology at the forefront, their team are helping founders and their companies towards a better world for the mankind. They are at the forefront of the change which they believe will benefit the society at large. Visionary Founders with strong Investor Networks, they believe in Diversity, Equity and Inclusion; and with the target talent pools they aim to connect entrepreneurs, executives, engineers, academics and industry experts in the technology ecosystem.

FINNEST is associated with Fortune 100/Global 500 top companies for the resources in relation to technology decision makers, influencers, and key opinion leaders. FINNEST uses this elite network as a part of company’s preamble to help and grow portfolio companies with access to insights across the entire diversified spectrum.

FINNEST has an extensive track record of investing in some of the fastest growing companies across Europe, the UK, USA, Middle East and Asia-Pacific.

‘From Our Founders To Our Own Team, We Partner With The Best And Brightest – No Matter Their Background, Our Door Is Open to New Talent and Disruptive ideas’ says the Chairman Biswanath Patnaik.

Recently secured investment for FINNEST

FINNEST has secured £500m investment for upcoming & innovative technology-driven ventures across industries like Renewable Energy, Hydrogen based logistic locomotives, Environmental & Sustainability, and Economic Social Governance with non-financial factors as part of the material risk and growth opportunities. FINNEST focuses on companies that can harness techniques like green hydrogen and/or solutions that reduce the dependency on rare earth metals in battery technology. Offering the potential combined with Smart Connected vehicle technology to redefine how goods are moved primarily. They are also entering into satellites and space technology for the future.

Building upon the idea of delivering technology for good, the FinNest team are also in detailed discussions with a number of forward-thinking UK local authorities. Working in partnership to identify investment opportunities which deliver real change for local citizens by leveraging the power of Smart City technology. It remains a core philosophy of the Finnest group that by bringing the right partners together, whether public, private or 3rd sector, is the way to find the optimum path to achieve social good whilst also delivering a reasonable rate of return and thus unlocking an approach which delivers benefit for all.

FinNest also has a number of ongoing investment negotiations looking at green energy solutions with a particular emphasis on new commercial models which include local communities establishing energy service capabilities. Whilst looking to support technologies including, solar, heat, wind and tidal, FINNEST are also aware that many of the barriers to decarbonisation lay outside the pure technical challenges of energy generation.

Consistent with the FinNest aim of supporting all, they are also looking at a number of exciting emerging companies which have technology solutions which have the potential to deliver significant societal benefit.

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