Global asset management firm TPG is set to buy a majority stake in Siemens Gamesa’s onshore wind turbine generator manufacturing business in India and Sri Lanka. In fundraising news tea brand VAHDAM India has secured $3 million from Sidbi Venture, while Nabhdrishti Aerospace has raised an equivalent amount led by Accel.
TPG to buy Siemens Gamesa’s wind turbine business
Global asset management firm TPG is set to acquire a majority stake in Siemens Gamesa’s onshore wind turbine generator manufacturing business in India and Sri Lanka. Once the deal is closed after regulatory approvals an independent entity will be formed for the manufacturing, installation and service of onshore wind turbines for the Indian wind market.
Siemens Gamesa, will continue to hold a minority stake in the new company. It will transfer around 1,000 employees and its existing manufacturing facilities in India while continuing to exclusively licence its intellectual property and technology.
TPG will invest through TPG Rise Climate, its climate investing platform. This will be the first investment from its Global South Initiative, a private equity strategy in partnership with ALTÉRRA, a private investment vehicle for climate finance, focussed on the Global South.
Wellness brand VAHDAM India bags $3m from Sidbi
Tea brand VAHDAM India has secured $3 million from Sidbi Venture to boost its cash reserves, product innovation and support global expansion of its tea business. The company has been expanding its distribution network and has launched its teas & botanicals in more than 2000 Walmart stores in the US. It is investing in product innovation, research and development, and scaling up its in-house manufacturing.
Established in 2015 by Bala Sarda, VAHDAM India ships teas, herbs, and botanicals to 3 million consumers in over 130 countries. It operates through wholly-owned subsidiaries in key markets like the USA, Canada, the UK, and Europe.
Nabhdrishti Aerospace raises $3m led by Accel
Bengaluru-based Nabhdrishti Aerospace has raised $3 million in a funding round led by Accel. Existing investors like IIMA Ventures and others also participated in the round.
The aviation startup plans to use the capital to boost the development of its indigenous propulsion technology, test its engine prototypes, conduct flight trials and expand its team by the end of the year to support its increasing number of products and customer base.
Established in 2023 by Rohit Chouhan, Arjun Srivatsa and Antanu Sadhu, the company is building micro gas turbines, which the company claims have higher efficiencies, superior high altitude performance and are much cheaper than other turbines in the same segment. They can cater to hybrid electric flight, small planes and helicopters, unmanned aerial vehicles (UAVs), heavy vehicles, hospitals, malls and apartments.
