Indore, Dec 15 (PTI): Rajratan Global Wire, the leading bead wire manufacturers in the country, has signed an agreement with Tamil Nadu to set up a Rs 300-crore a greenfield manufacturing facility for tyre bead wire in Chennai.

Towards this, the company has signed a lease deed with State Industries Promotion Corporation of Tamil Nadu for a 25 acre land bank at the Sipcot Industrial Park in Kancheepuram district.

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New facility will have annual capacity of 60,000 tonne at an investment of Rs 300 crore, the company said.

Rajratan Global Wire manufactures bead wires, a critical component used in the manufacture of tyres from its Indore (capacity of 72,000 tonne per annum for wire and and 40,000 tonne in Thailand), which is also under expansion adding 20,000 tonne.

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******** Retail tech start-up Shopconnect raises $1.5 m

*Mumbai:Shopconnect, a next-generation interactive e-commerce and video collaboration platform, has raised USD 1.5 million in pre-series round funding from IBS Technology & Consulting Services, which is the holding company of VK Mathews, founder of IBS Software.

With this investment, Shopconnect aims to deepen its product and technology offering, fast track go-to market, grow customer base, accelerate its leadership hiring, and further their mission to become a key player in the connected e-commerce space.

It aims to increase customer base by adding over 2,500 premium brands in fashion, accessories, footwear, jewellery, furniture, and electronics in the next three years, Dilli Babu Nandarapu, the founder said.

******** L&T Technology launches platform for EV makers

* Mumbai: L&T Technology Services has launched a platform for electric vehicle makers along with an EV lab, and an in-house autonomous drive platform.

Called e-Voltts, it has been developed in-house and is a modular high-efficiency reference platform that can be customised for use in a wide range of vehicle segments such as off-highway vehicles, passenger cars and 2/3-wheelers apart from EVs.

The platform is designed to offer distinct features in tune with the expectations of the evolved needs of an EV consumers with electric propulsion system comprising inverter converter topology that enables a compact, cost-attractive electric drive proposition,the company said, which has already developed an EV prototype.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)