3 min
Biocon buys Viatris biosimilars unit for $3.34 bln; Infosys launches ‘Metaverse Foundry’; Prime closes Fund IV at $120 mln One Thing Today in Tech
-
- Technology
Biocon Biologics has struck a $3.335 billion cash-and-stock deal with US pharmaceuticals company Viatris to acquire its global biosimilars business including rights in the partnered in-licensed portfolio. Infosys has launched a ‘metaverse foundry’ to fast-track its customers’ adoption of the online environment. And Prime Venture Partners, a Bangalore VC firm focused on early-stage startups has closed its latest fund at $120 million.
Notes:
Biocon Biologics acquires Viatris’s biosimilars unit for $3.35 billion
Biocon Biologics has struck a deal with US pharmaceuticals company Viatris to acquire its global biosimilars business including rights in a partnered in-licensed portfolio. This acquisition gives Bangalore-based Biocon Biologics access to Viatris’ commercial engine in developed and emerging markets and will be value accretive, the subsidiary of Indian biopharma company Biocon, said in a press release.
The cash-and-stock deal is valued at $3.335 billion and will give Biocon Biologics access to Viatris global biosimilars business projected to be a $1 billion business by revenue in 2023.
“This acquisition is transformational and will create a unique fully integrated, world-leading biosimilars enterprise,” Biocon’s founder and chairperson Kiran Mazumdar Shaw said in the press release.
Infosys launches ‘Metaverse Foundry’ as a cloud service
Infosys, India’s second-biggest IT services provider, has launched a ‘metaverse foundry’ to fast-track its customers’ adoption of the online environment, the company said in a press release last week. The foundry will include virtual and augmented environments, for their end customers, workplaces, products and operations.
The metaverse foundry brings together domain and design expertise, platforms and digital accelerators, with strong relationships in a rich creator-partner economy, Infosys said. Customers can use this as a cloud-based service, to build their own metaverse environments, deliver signature experiences in an existing metaverse, and take advantage of advanced AI-powered data analytics and simulations.
Prime VP closes the fourth fund at $120 million
Prime Venture Partners, an early-stage India-focused VC firm, has secured the final close of its fourth fund, at $120 million, the company said in a press release last week. The fund was oversubscribed and has exceeded its target of $100 million in commitments and will invest in startups in FinTech, EdTech, HealthTech, Consumer Internet and Global SaaS.
With this closing, the new fund takes the total capital under management across all Prime VP funds to more than $250 million.
GigForce raises more funding to take the total to $6 million
GigForce, a B2B on-demand gig-tech platform, has raised fresh funding from Meraki Labs taking its total funding to $6 million, the company said in a press release. VC firm Endiya Partners had led Gigforce’s last round, with participation from Unitus Ventures and angel investors.
The platform aims to provide employers with a predictable and flexible demand fulfilment solution at scale and helps gig workers up-skill, earn, and develop their careers.
Theme music courtesy Free Music & Sounds:
https://soundcloud.com/freemusicandsounds
Biocon Biologics has struck a $3.335 billion cash-and-stock deal with US pharmaceuticals company Viatris to acquire its global biosimilars business including rights in the partnered in-licensed portfolio. Infosys has launched a ‘metaverse foundry’ to fast-track its customers’ adoption of the online environment. And Prime Venture Partners, a Bangalore VC firm focused on early-stage startups has closed its latest fund at $120 million.
Notes:
Biocon Biologics acquires Viatris’s biosimilars unit for $3.35 billion
Biocon Biologics has struck a deal with US pharmaceuticals company Viatris to acquire its global biosimilars business including rights in a partnered in-licensed portfolio. This acquisition gives Bangalore-based Biocon Biologics access to Viatris’ commercial engine in developed and emerging markets and will be value accretive, the subsidiary of Indian biopharma company Biocon, said in a press release.
The cash-and-stock deal is valued at $3.335 billion and will give Biocon Biologics access to Viatris global biosimilars business projected to be a $1 billion business by revenue in 2023.
“This acquisition is transformational and will create a unique fully integrated, world-leading biosimilars enterprise,” Biocon’s founder and chairperson Kiran Mazumdar Shaw said in the press release.
Infosys launches ‘Metaverse Foundry’ as a cloud service
Infosys, India’s second-biggest IT services provider, has launched a ‘metaverse foundry’ to fast-track its customers’ adoption of the online environment, the company said in a press release last week. The foundry will include virtual and augmented environments, for their end customers, workplaces, products and operations.
The metaverse foundry brings together domain and design expertise, platforms and digital accelerators, with strong relationships in a rich creator-partner economy, Infosys said. Customers can use this as a cloud-based service, to build their own metaverse environments, deliver signature experiences in an existing metaverse, and take advantage of advanced AI-powered data analytics and simulations.
Prime VP closes the fourth fund at $120 million
Prime Venture Partners, an early-stage India-focused VC firm, has secured the final close of its fourth fund, at $120 million, the company said in a press release last week. The fund was oversubscribed and has exceeded its target of $100 million in commitments and will invest in startups in FinTech, EdTech, HealthTech, Consumer Internet and Global SaaS.
With this closing, the new fund takes the total capital under management across all Prime VP funds to more than $250 million.
GigForce raises more funding to take the total to $6 million
GigForce, a B2B on-demand gig-tech platform, has raised fresh funding from Meraki Labs taking its total funding to $6 million, the company said in a press release. VC firm Endiya Partners had led Gigforce’s last round, with participation from Unitus Ventures and angel investors.
The platform aims to provide employers with a predictable and flexible demand fulfilment solution at scale and helps gig workers up-skill, earn, and develop their careers.
Theme music courtesy Free Music & Sounds:
https://soundcloud.com/freemusicandsounds
3 min