Sygnum Completes USD 58m Strategic Growth Round, Achieves Unicorn Status with 1bn valuation

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Fulgur Ventures, cornerstone investor in the final close of Sygnum’s Strategic Growth Round, is a venture capital firm focusing on Bitcoin technologies, infrastructure and applications that drive Bitcoin adoption. Fulgur is joined by new and existing strategic and financial investors, as well as Sygnum team members again participating on equal terms. The Co-Founders, board and team members continue to hold Sygnum majority ownership.

Proceeds from the completed Strategic Growth Round will be put to work to drive Sygnum’s 2025 expanded EU/EEA market entry and to launch its regulated presence in Hong Kong. Sygnum also intends to use the funds to broaden its institutional infrastructure, expand its product portfolio with a focus on Bitcoin-technology, and enable opportunities for strategic acquisitions as the market develops. As the industry’s trend towards regulatory compliance gathers pace, additional investments will be made to further strengthen Sygnum’s organisational and operational resilience, compliance teams and state-of-the-art risk management.

A key driver of the oversubscribed Strategic Growth Round was Sygnum’s multi-year core business growth. 2024 revenues for all trading products, including crypto spot, derivatives, FX and traditional securities, surpassed the previous year’s total in Q3 for the second year running. Total annual trades in 2024 increased by more than 1,000% YoY, propelled by PostFinance and the 20+ banks on its B2B platform providing regulated crypto services to more than a third of the Swiss population.

Sygnum’s core business growth was matched by its industry-shaping product launches. In July 2024, Sygnum launched Sygnum Connect, a 24/7 multi-asset settlement network, with members at launch including digital asset exchange AsiaNext and prime broker Hidden Road. A few months earlier, Sygnum also opened up a second new platform, Sygnum Protect, exclusively to its global institutional client base. This platform enables them to continue trading on major crypto exchanges while holding their flexible choice of collateral in secure, bank-grade and bankruptcy-remote custody with Sygnum

Mathias Imbach, Sygnum Co-Founder and Group CEO, comments that: “Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy and team. While it is an achievement we are very proud of, it won’t alter the values of integrity and humility, and the importance of displaying confidence without attitude at all times, which have acted as our true-north since day one. As Switzerland is currently losing ground to other jurisdictions as a preferred digital asset hub, it is also our obligation to highlight the need for Switzerland to not ignore the importance of continuous innovation in the financial sector and to continue to attract talent and capital to remain relevant in the long-term. In that way, Sygnum’s mission is only at the very beginning.”

Gerald Goh, Co-Founder and CEO APAC, says: “The successful completion of our Strategic Growth Round is proof of Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry. Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum’s future growth strategy.”

Oleg Mikhalsky, Partner of Fulgur Ventures, adds: “Fulgur is a venture capital firm that continues to drive investment into the accelerating convergence of Bitcoin and institutional financial markets. Sygnum’s market-tested infrastructure, digital asset-native team and global ecosystem makes them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies – as well as for future collaborations with other Fulgur portfolio companies. We are proud to be the cornerstone investor for the final close of Sygnum’s Strategic Growth Round, which coincides with a potential inflection point for Bitcoin’s institutional adoption and regulatory clarity.”

In FY 2024, Sygnum achieved operational profitability and continued to grow its 2,000-strong institutional client base domiciled in over 70 countries, serviced through its regulated operations in Switzerland, Singapore and Abu Dhabi. The group is also regulated in the established global financial hubs of Luxembourg and was recently registered in Liechtenstein.

About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. Sygnum empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust.The team enables this through our institutional-grade security, expert personal service and portfolio of regulated digital asset banking, asset management, tokenization and B2B services.

16th Meeting of Building and Other Construction Workers (BoCW) Monitoring Committee Reviews Implementation of Social Security Schemes for BoCW

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The 16th Building & Other Construction Workers (BoCW) ‘Monitoring Committee Meeting,’ was chaired by Secretary, Ministry of Labour & Employment, Smt. Sumita Dawra, on 13th January 2025, in hybrid mode.

The meeting was attended by DG Labour Welfare, other senior officers of the Ministry, Additional Chief Secretary/ Principal Secretaries/ Labour Commissioners, of States/UTs, Secretaries of BoCW Welfare Boards, Central Welfare Commissioners, besides representatives from National Health Authority, and Department of Financial Services. More than 100 participants attended the meeting.Important issues related to (i) amendment to ‘Model Welfare Scheme’ for coverage of registered BoCW Workers under the central social security schemes such as PMJJBY/PMSBY/PM-JAY/PMSYM, (ii) construction of educational institutions/ schools from BoCW Cess Fund, (iii) BoCW data integration/on-boarding with eShram Portal, (iv) CAG Audit and Social Audit, (v) data submission on BoCW MIS Portal, (vii) automatic transfer of benefits to BoCW, etc. were discussed during the meeting.Secretary, Labour & Employment emphasised that the States/UTs take required steps for utilization of cess fund for extending coverage of social security to BoC workers.

It was noted that presently there are around 5.73 Cr workers registered with the BoCW Welfare Boards of various States & UTs across the country, and with the cumulative amount of balance funds available with the Boards as on 30th September 2024, there was ample availability of resources which may be judiciously utilised for the welfare of the BoC workers, duly focussing the uncovered population.

The Secretary, Labour & Employment highlighted, inter-alia, the urgent need for BoCW Welfare Boards to diligently work for providing social security by strengthening registration machinery, API integration of data of BoCW Boards with eShram by all States/ UTs, extending social security benefits to ensure 100% coverage like health, insurance, accidental benefits for all workers, besides leveraging technology to enhance the functioning of the Welfare Boards.Setting up of an effective grievance redressal mechanism, ensuring training of workers in safety measures and modern building techniques, timely payment of minimum wages, besides updation of data on the central MIS portal regarding coverage of BoCW under welfare schemes were emphasized.

During the meeting, Uttarakhand and Assam BOCW Welfare Boards highlighted the good practices of their respective Boards, as part of knowledge sharing.Secretary, Ministry of Health and Family Welfare, Smt Punya Salila Srivastava also participated in the meeting and made an intervention on eradication of Tuberculosis among the construction workers requesting the BoCW Welfare Boards to take part on intensifying the campaign of ‘Pradhan Mantri TB Mukt Bharat Abhiyaan’ organized by Ministry of Health & Family Welfare.

In this context, Secretary, M/o L&E requested all State/UT Governments to organise health screenings for BoC workers including migrant workers on campaign mode.

 

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Registration for 8th edition of Pariksha Pe Charcha Concludes with a Record-Breaking over 3.5 Crore Applications

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Registration for 8th edition of Pariksha Pe Charcha Concludes with a Record-Breaking over 3.5 Crore Applications

Registration for the flagship initiative of Prime Minister Shri Narendra Modi, Pariksha Pe Charcha (PPC), concluded with a record-breaking over 3.5 crore participation from students, teachers and parents. This is a nationwide movement to transform exam-related stress into a festival of learning and celebration. The 8th edition of PPC 2025 has set an unprecedented milestone in terms of registrations from students, teachers, and parents across India and abroad. This remarkable response underscores the growing resonance of the program as a true Jan Andolan.The online registration for PPC 2025 was hosted on the MyGov.in portal, from 14 December 2024 to 14 January 2025.

The program’s immense popularity highlights its success in addressing the mental well-being of students and fostering a positive outlook towards examinations.The interactive event, organized annually by the Department of School Education and Literacy under the Ministry of Education, has become a much-anticipated celebration of education. The 7th edition of PPC in 2024 was held at Bharat Mandapam, Pragati Maidan, New Delhi, in a town hall format and received widespread acclaim.In line with the spirit of PPC, a series of engaging school-level activities commenced on 12 January 2025 (National Youth Day) and will continue till 23 January 2025 (Netaji Subhash Chandra Bose Jayanti).

The activities aim to foster holistic development and inspire students to celebrate examinations as an Utsav.Through these activities, PPC 2025 reinforces its message of resilience, positivity, and joy in learning, ensuring that education is celebrated as a journey rather than a pressure-driven task.

 

Tata Motors flags off electric buses for workforce transportation in Pantnagar; reiterates its commitment towards carbon neutrality

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Tata Motors, India’s largest commercial vehicle manufacturer, today flagged-off a fleet of electric buses dedicated for workforce transportation at its Pantnagar plant in Uttarakhand. These indigenously built, zero-emission buses are equipped with latest features, and powered by advanced battery systems. TML Smart City Mobility Solutions Limited (TSCMSL), a wholly owned subsidiary of Tata Motors, will facilitate this workforce commute with a modern fleet of Tata Ultra 9m electric buses.

Designed to provide a safe, comfortable and convenient commute, this e-bus service will reduce carbon footprint by providing clean and green transport to over 5,000 people and save ~1,100 tonnes of CO2 emissions annually. Electricity generated from a 16MW solar energy plant will charge the e-bus fleet, making the entire operation green from end-to-end.

Announcing the launch, Mr. Vishal Badshah, Vice President and Head – Operations, Tata Motors Commercial Vehicles, said, “The introduction of electric buses for workforce commuting marks a significant step forward towards fulfilling Tata Motors Commercial Vehicles’ aspiration of achieving net-zero greenhouse gas (GHG) emissions by 2045. We are committed to making all our manufacturing facilities green by integrating sustainability across their entire value chain – from sourcing to development and engineering to operations. 

I am delighted to launch this initiative in Pantnagar first as it adds to and acknowledges the successes of the facility’s myriad of sustainability initiatives. This plant is already a certified Zero Waste to Landfill facility and has also received water-positive certification by CII-GBC. The launch of a zero emission, e-fleet service creates another major milestone in the sustainability journey of the plant.”

Powered by a full-electric drivetrain, Tata Ultra EV 9m electric bus is equipped with smart features including regenerative braking system and Intelligent Transport Systems. This deployment builds upon Tata Motors’ remarkable success in India’s electric mass mobility segment, where the company has already deployed over 3,100 electric buses across 10 cities. These buses have cumulatively covered more than 24 crore kilometres with an uptime of over 95%, demonstrating reliability and efficiency of Tata Motors’ electric mass mobility solutions.

 

M&S DRIVES CARBON REDUCTIONS WITH ITS FIRST AUTONOMOUS FIELD TRIAL

by Today's Fables

M&S is announcing the initial results from first retailer run ‘autonomous field’ trial, which will see the retailer selling lower carbon parsnips later this year.  the first retailer to farm and sell a lower carbon vegetable following an ‘autonomous field’ trial.  

In partnership with long-term supplier, Huntapac, the first fully autonomously farmed parsnips will be available in selected M&S stores this November. To create these lower carbon parsnips, the team has brought together all the latest technology to farm with a significantly lower environmental impact. The technology includes two robots for bed forming, planting and weeding, two different types of drone to monitor and maintain crop health, and the latest scientific testing on soil health and carbon impact. Much like when agriculture moved from horse and plough to mechanical tractors, these latest technologies offer a future of farming that will aid farmers, create more highly skilled jobs in the industry and attract new talent. 

The team has adopted a minimum till approach to help keep carbon locked into the soil, a green fertiliser and the new tech, which uses significantly less diesel than a traditional tractor to reduce carbon emissions. The green fertiliser is not only produced with a lower carbon footprint than traditional methods but works by removing nitrogen dioxide from the air and converting it to nitrogen which is used by the plants for photosynthesis. Initial data shows 46% carbon reduction compared to standard methods.  

On top of the carbon impact, the use of the new technology has other benefits including improved quality and quantity of crop yields. AI was used to monitor and improve crop health and autonomous technology can reduce weather impact. For example, in March this year, following the wettest six months in England since 18711, the team were able to get in and plant the field with the autonomous robot which wouldn’t have been possible with a traditional tractor. This has also contributed to an increase in quality and number of parsnips and reduced waste, with a 16% higher yield of grade one vegetables compared to Huntapac’s other parsnip fields.  

The field also includes various measures from M&S’ Farming with Nature programme to improve biodiversity of both wildlife and the soil, including agrisound boxes and wildflower borders. AgriSound technology monitors pollinator numbers with specialist listening devices situated on farm. 

The parsnips are being grown in Yorkshire and will become available in selected M&S stores in November.  

The trial was the first M&S Food project to be funded by the M&S Plan A Net Zero accelerator fund, which the retailer launched to find innovation projects to enable rapid action towards net zero to meet its Plan A goal of being a Net Zero business across its entire supply chain by 2040. 

Andrew Clappen, Technical Director at M&S Food, said: “Innovation is at the heart of M&S Food and our Plan A Accelerator Fund offers us the opportunity to tap into the entrepreneurial spirit of our suppliers. Projects like this help us move towards being a Net Zero business across all our operations and entire supply chain by 2040, whilst focussing on the quality of produce that M&S is famous for. 

Agriculture is one of our biggest contributors to emissions, so it’s important that we find new lower impact farming methods.  Trialling new ways to support our Plan A roadmap to Net Zero is an important step on the journey and this project has helped deliver more parsnips at M&S quality, a carbon reduction and brings together new technologies which if adopted more widely would create more highly skilled jobs and attract new talent into the sector.” 

Stephen Shields, Technical & Sustainability Director at Huntapac, said: “Our 40-year relationship with M&S has gone from strength to strength and we couldn’t have done this project without the Plan A Accelerator Fund. Not only are we seeing a reduction of the carbon impact but more parsnips at higher quality, due to us being able to plant the seeds despite bad weather earlier this year. This would have a fantastic impact on our business at scale and we’re aiming to deliver multiple fields farmed this way for next season.” 

Infosys and zooplus Collaborate to Drive Digital Transformation and Enhance E-Commerce Capabilities

by Today's Fables

Infosys ,a global leader in next-generation digital services and consulting,  announced a strategic collaboration with zooplus, a leading European e-commerce company based in Munich, Germany, to enhance its service capability and scalability. The collaboration will establish a state-of-the-art Global Capability Center (GCC) in Hyderabad, India.

zooplus will leverage Infosys Topaz, an AI-first offering using generative AI technologies, that will aim to help the company drive AI innovation and growth transform e-commerce capabilities, and enhance operational efficiency. The collaboration will also help improve its marketing, e-commerce, and supply chain capabilities. It will support zooplus by enhancing its expertise in product management, technology, quality, design, and engineering; and set up a new order management system.

Infosys was selected for its unique AI-first strategy and its commitment to driving improvements in productivity while achieving cost efficiencies. The GCC will leverage Infosys’ data-driven excellence and innovative capabilities to play a pivotal role in transforming zooplus’ customer experience, significantly enhancing their technology and value chain capabilities.

Geoffroy Lefebvre, Chief Executive Officer, zooplus SE, said, “At zooplus our growth strategy has always been focused on leveraging data-driven insights to meet our customers’ demands. Our collaboration with Infosys to establish our new technology hub is a strategic decision driven by their AI-first strategies combined with expertise in delivering AI-powered solutions, with Infosys Topaz. We are confident that through this collaboration we will unlock greater operational efficiencies, enhance customer experience, and stay ahead in the competitive e-commerce landscape.”

Karmesh Vaswani, Executive Vice President & Global Head of Consumer, Retail & Logistics, Infosys, said, ” At Infosys, we believe in harnessing the power of technology to drive innovation enabling profitable and sustained future growth. Collaborating with zooplus to establish this new GCC in Hyderabad underscores Infosys’ commitment to driving digital transformation at scale for our clients. By leveraging Infosys Topaz, we will empower zooplus to realize their full potential and also position them at the forefront of excellence in digital commerce and marketing.”

Union Minister Shri G Kishan Reddy Inaugurates Rooftop Solar Power Plant in GSITI Hyderabad

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Further Strengthening Prime Minister Shri Narendra Modi’s vision of a cleaner and greener India, Union Minister for Coal and Mines, Shri G. Kishan Reddy, inaugurated the Rooftop Solar Power Plant at the Geological Survey of India Training Institute (GSITI) in Hyderabad today. This event, held at the M. S. Krishnan Auditorium, represents a significant step forward in the institute’s commitment to promoting sustainable energy.

The new solar power plant is a significant step towards reducing GSITI’s carbon footprint while promoting renewable energy use within government institutions. It is expected to generate a substantial portion of the institute’s energy needs, contributing to India’s larger goal of increasing renewable energy’s share in the overall energy mix.

Inaugurating the Rooftop Solar Power Plant at GSITI, Hyderabad, Union Minister Shri G. Kishan Reddy lauded the institute for its commitment to sustainable energy, stating, ‘This is a significant step towards environmental responsibility, energy efficiency, and sustainable development. Under the leadership of Prime Minister Shri Narendra Modi ji, India has emerged as a global leader in climate action, with initiatives like the Pradhan Mantri Surya Ghar Muft Bijli Yojana empowering households to harness solar energy. The 150-kilowatt rooftop solar plant at GSITI will meet 75% of the institute’s energy needs, saving Rs 30 lakh annually, and set a new standard for renewable energy use in public institutions.’

Shri S. D. Patbhaje, Additional Director General of the Geological Survey of India (Southern Region), addressed the gathering, emphasizing the importance of this project for sustainable development. Shri Eatala Rajender, Member of Parliament for Malkajgiri, also highlighted the critical role of renewable energy in national progress.

The event also featured a sapling plantation and the unveiling of an inaugural plaque for the solar plant, symbolizing GSITI’s commitment to environmental stewardship. Following the ceremony, the dignitaries toured the solar facility to learn about its technical features and benefits.

This solar power plant stands as a model for future government initiatives in renewable energy, showcasing GSITI’s role in supporting India’s sustainable energy future and advancing Prime Minister Modi’s vision of making India a global leader in clean energy.

Hon’ble Finance Minister has approved the upgradation of Hindustan Aeronautics Limited

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Hon’ble Finance Minister has approved the upgradation of Hindustan Aeronautics Limited (HAL) to 14th #Maharatna CPSE. The proposal has earlier been recommended by Inter-Ministerial Committee (IMC) headed by Finance Secretary and Apex Committee headed by Cabinet Secretary.  HAL is a Department of Defence Production (DoDP) CPSE with an annual turn over of Rs. 28162 crore and net profit of Rs. 7595 crore for FY 2023-24.


PM GatiShakti National Master Plan completes 3 years of transforming India’s Infrastructure landscape

by Today's Fables

The PM GatiShakti National Master Plan (NMP) for muti-modal connectivity, launched by Hon’ble Prime Minister Shri Narendra Modi on 13th October 2021, completes three years today having achieved significant milestones in transforming the country’s infrastructure landscape.

On this occasion, the Union Commerce and Industry Minister, Shri Piyush Goyal said, “PM GatiShakti has brought about a paradigm shift in how India plans and implements infrastructure projects. By integrating data from multiple Ministries and States, we have created a more efficient, transparent, and outcome-driven system. The impact is visible in faster project execution, lower logistics costs, and better services reaching every corner of the country.”

According to Secretary DPIIT, Shri Amardeep Singh Bhatia, “PM GatiShakti NMP launched as the transformative approach 3 years ago by Hon’ble Prime Minister, has accelerated the infrastructure planning & development process leveraging geospatial technology and the Whole of the Government approach. During the last three years, more than 44 Central Ministries and 36 States/UTs have been onboarded, their data layers have been integrated and are provided with their own geospatial planning portal.”

With its vision to bring synergy across Ministries/Departments, and States/UTs, the PM GatiShakti has successfully laid the groundwork for seamless, multi-modal connectivity and accelerated economic growth. The PM GatiShakti has redefined how India plans and executes large-scale infrastructure projects. By harnessing geospatial data from 44 Central Ministries and 36 States/UTs, the platform has significantly improved inter-ministerial coordination and streamlined project execution.

Himachal Pradesh Police is organising the 11th HP Police Half Marathon

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The global drug problem presents a multifaceted challenge that touches the lives of millions worldwide. From individuals struggling with substance use disorders to communities grappling with the consequences of drug trafficking and organized crime, the impact of drugs is far-reaching and complex.

Taking this drive forward, Himachal Pradesh Police is organising the 11th HP Police Half Marathon on 29th Sept, 2024.

Together, let us amplify our efforts to combat the global drug problem, guided by the principles of science, compassion, and solidarity. Through collective action and a commitment to evidence based solutions, we can create a world where individuals are empowered to lead healthy, fulfilling lives.