Latest News | Business Briefs Supply Chain Labs Announces First Close of Rs 75 Crore on Its Fellowship Fund

New Delhi, Feb 22 (PTI) Supply Chain Labs (SCL) has announced the first close of its purpose-specific fund, at Rs 75 crore.

This fellowship fund, with the goal of selecting, collaborating and investing in 50 of the high-potential supply-chain-focused start-ups would be the sole vehicle through which SCL will be investing in its third cohort onwards, a statement said.

Also Read | Realme V25 With Triple Rear Cameras Teased Online, Launch Soon.

SCL already has 19 companies in the portfolio from its first two cohorts.

"Supply Chain Labs (SCL), India's first exclusively supply-chain focused fund has announced the first close of its purpose-specific fund, at Rs 75 crore," it said.

Also Read | Motorola Edge 30 Pro Price & Offers Revealed Ahead of Its Launch: Report.

*

*

*

Smarten plans to launch fully localised range of products this year

* Power back-up maker Smarten plans to launch fully localised range of products this year.

Smarten, one of India's leading power back-up manufacturers, aims to disrupt the energy storage market with 100 per cent localised products for B2B and B2C segments, according to a statement by the company.

It plans to launch a range of innovative products, such as electric vehicles chargers and lithium-ion batteries, among others, in the market this year, according to the statement. The company has a state-of-the-art manufacturing facility in Gurugram.

Smarten, which entered the Indian market in 2014, has experienced a substantial surge in demand for its domestic batteries from more than 25 countries, including India, UAE, Nigeria, Nepal and Mali.

Rajnish Sharma, CEO and director of Smarten, said, "After becoming marketing leads in the northern and southern parts of the country, we plan to strengthen our presence in western and eastern parts of India with our existing range of products by the end of 2022." HRS hrs

(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)