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UGRO CAPITAL LIMITED UPGRADED RATING ‘IND A1+’ FOR SHORT-TERM AND ‘IND A+’ FOR LONG-TERM INSTRUMENTS BY INDIA RATINGS

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DataTech NBFC’s Strategic Vision and Robust Performance Propel Rating Upgrade

MUMBAI, India, Aug. 1, 2024 /PRNewswire/ — UGRO Capital, a leading DataTech NBFC focused on MSME lending, has achieved a significant milestone by receiving the highest rating of ‘IND A1+’ for its short-term instrument – Commercial Papers (CP) for 7 to 365 days for issue size of INR 2,000 million, as assigned by India Ratings and Research (Ind-Ra). This rating upgrade underscores UGRO’s robust performance and strategic vision, highlighting its significant achievements and strong growth trajectory.

Further, Ind-Ra has upgraded the Company’s Non-convertible debentures (NCDs) to ‘IND A+’ from ‘IND A’ with Stable outlook for issue size of INR 8,500 million, Bank loans to ‘IND A+’/Stable for issue size of INR 18,500 million and Sub-debt to ‘IND A+’/Stable for issue size of INR 500 million. The rating upgrade reflects UGRO’s rapid expansion and growth in franchise, driven by its diverse funding mix, healthy capital buffers, and comprehensive product offerings tailored to MSMEs. UGRO’s geographic and sectoral diversification, along with its strategic partnerships and technological advancements, have been pivotal in achieving this milestone.

Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, expressed his enthusiasm about the rating upgrade, stating, “We are thrilled to receive the highest rating of ‘IND A+’ from India Ratings and Research. This upgrade is a testament to our strategic vision, robust financial performance, and unwavering commitment to our belief since inception – that MSME Accha Hai. India’s MSME need affordable cost of borrowing, UGRO ability to lend at affordable rates is a function of its own cost of borrowing and hopefully lenders would take notice of this upgrade and our cost of borrowing would come down over period of time with this rating upgrade.”

UGRO’s asset under management (AUM) saw a multi-fold increase, reaching INR 90.4 billion at the end of FY24 from INR 13.2 billion at the end of FY21. This growth was significantly supported by its off-book portfolio, which grew to INR 40.8 billion from just INR 0.11 billion in FY21. The on-book AUM also showed a robust compound annual growth rate (CAGR) of 56% during the same period.

The company has successfully forged 12 co-lending and co-origination partnerships, including 6 with public sector banks, and nearly 30 fintech partnerships. UGRO has also expanded its branch network from 25 to over 150, with plans to increase to 250 branches, emphasizing micro-branches.

UGRO has demonstrated a strong track record of capital raising, with significant equity infusions totalling INR 12.7 billion in the fourth quarter of FY24 and additional capital raised in Q1FY25. The company’s capital base stood at INR 14.38 billion at the end of FY24 and would have 27 billion Capital by end of FY 26. It has a capital adequacy ratio of 20.75% and a steady leverage ratio of 3.2x.

UGRO continues to focus on funding MSMEs with diversified exposure across various segments, including property-secured loans, machinery financing, retailer financing, and business loans. The company’s strategic shift towards high-yielding products and increased emphasis on micro-loans is expected to enhance profitability and margins.

Investments in technology infrastructure, data analytics, and a blend of physical and digital frameworks have positioned UGRO Capital for continued growth. The acquisition of MyShubhLife, an embedded finance fintech platform, will further enable UGRO to target the high-yielding retailer financing segment.

UGRO’s funding mix is well-diversified, with mobilized funds from 57 financiers, including major public and private sector banks. The company maintains a strong liquidity position, with a total liquidity of around INR 7.0 billion at the end of Q1FY25, covering debt obligations for 3 months without considering collections.

About UGRO Capital Ltd (NSE: UGROCAP) (BSE: 511742)

UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of “Solving the Unsolved” for the small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

The Company’s prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers, and GRO X application to deliver embedded financing option to MSMEs. 

The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

UGRO has executed Co-lending model in India which is prevalent in the West through Co-Lending relationships with 10+ Large Public Sector Banks and large NBFCs and built a sizeable off-balance sheet asset of more than 46% of its AUM through the GRO Xstream platform.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018, INR 340 Cr in 2023 and INR 1265 Cr in 2024) and aims to capture 1% market share over the next three years. For more information, please visit: http://www.ugrocapital.com/

 

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CoolFly to Showcase Personal Flight Portfolio and NA80 Flight-Control Technology at IFA Berlin 2026

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Dream ST will be on display as CoolFly highlights flagship Urban, high-performance Dream Pro and its expanding global dealer network

BERLIN, Sept. 6, 2026 /PRNewswire/ — CoolFly, a developer of personal electric aircraft and eVTOL technologies, is showcasing its Dream ST personal aircraft at IFA Berlin 2026, taking place September 4–8 at Messe Berlin.

Dream ST is on display at CityCube Hall B, Booth CCBB-143, in IFA’s Mobility area. While Dream ST is the aircraft physically presented at the show, CoolFly is also introducing its broader product portfolio, including high-performance Dream Pro and flagship Urban.

Dream ST is a lightweight, single-seat electric aircraft designed for personal and recreational flight, featuring a seated configuration and quick-fold design for easier transportation and storage.

Dream Pro extends the platform with greater payload, endurance and performance. It supports a maximum payload of 120 kg, reaches a maximum speed of 100 km/h, and can achieve up to 40 minutes of flight time with a 70 kg pilot onboard, depending on operating and environmental conditions.

Urban, CoolFly’s flagship personal aircraft, features a standing-position configuration and enclosed-propeller architecture, reflecting the company’s effort to create a more intuitive and distinctive personal flight experience.

All three aircraft share CoolFly’s self-developed NA80 flight control system. NA80 uses a dual-redundant architecture with two independent flight-control units, each integrating three aviation-grade inertial measurement units (IMUs). The system continuously monitors aircraft attitude and motion, supports millisecond-level fault detection and failover, and serves as a common technology foundation across CoolFly’s product portfolio.

Dream ST, Dream Pro and Urban have all obtained CE and FCC certifications for applicable product compliance requirements, supporting CoolFly’s continued international expansion.

CoolFly is also actively recruiting dealers, distributors and commercial partners worldwide, with a current focus on Europe, North America, Australia, the Middle East and other key markets.

Prospective partners and media are invited to visit CoolFly at IFA Berlin 2026, CityCube Hall B, Booth CCBB-143.

About CoolFly
CoolFly develops personal electric aircraft and eVTOL technologies, integrating aircraft design, propulsion and self-developed flight-control systems to make personal flight more accessible.

Media: press@coolflyaircraft.com
Business: support@coolflyaircraft.com

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Experience AI Companion in Everyday Life at Hisense IFA 2026

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BERLIN, Sept. 6, 2026 /PRNewswire/ — Hisense, a leading brand in global consumer electronics and home appliances, is inviting visitors at IFA 2026 to experience how AI can make everyday home routines simpler and more intuitive. Under the theme “Innovating a Brighter Life,” the Hisense AI Companion Suite, powered by ConnectLife, brings connected intelligence to the kitchen, laundry and living spaces.

Step into the kitchen and a simple question— “What should I make?”—can set the experience in motion. The AI Companion Refrigerator recognizes stored ingredients and suggests meal ideas based on personal preferences. Once a recipe is selected, it can sync with the AI Companion Oven to support automatic cooking, while the AI Companion Wine Cabinet recommends pairings and maintains suitable storage conditions. After the meal, the AI Companion Dishwasher recognizes dish conditions and adjusts cleaning, demonstrating how AI can support the journey from planning dinner to cleaning up.

In the laundry area, visitors can see how the AI Companion Laundry Suite turns a routine load into a simpler, more automated experience. By recognizing clothing characteristics, it selects suitable wash and dry cycles and adjusts the process automatically, creating a load-and-go experience.

The experience continues in the living space. The AI Companion Air Conditioner senses indoor conditions and user presence, adapting airflow as people move through the room. Meanwhile, the AI Companion Energy System considers weather and time-of-use electricity pricing to help optimize household energy use.

Building on ConnectLife’s support, Hisense is collaborating with Alexa+ to be among the first home appliance brands bringing smart home devices to Amazon’s Alexa+ AI assistant using Amazon’s new Smart Home AI Toolkit. Available in the coming months, Alexa+ customers will be able to control select Hisense air conditioners by simply saying what they need. Alexa+ will then map the request, navigate the settings, and complete the action for them.

Hisense’s approach to innovation has also earned recognition at IFA, with several of its products receiving awards. The Multi Function II Series, an all-in-one energy-saving HVAC solution, received a Winner Award, while the X-zone Master was named an Honoree. The U8 Air Master Air Conditioner, W60 3D Kitchen-fit Series and 60cm Integrated Wine Cabinet were also recognized that underscores Hisense’s focus on combining intelligent technology, thoughtful design and everyday usability.

Across these IFA scenarios, Hisense brings its Smart Home Companion capabilities to life through V AIOS, giving devices the ability to Sense what is happening, Think through what to do, Communicate naturally with users and across devices, and Execute tasks by orchestrating devices and services autonomously. Together, these capabilities help AI Companion Suites understand context, make decisions and take action, helping the home do more while asking less of its users.

About Hisense

Hisense, founded in 1969, is a globally recognized leader in home appliances and consumer electronics with operations in over 180 countries, specializing in delivering high-quality multimedia products, home appliances, and intelligent IT solutions. According to Omdia, Hisense ranks No. 1 globally in the 100-inch and over TV segment (2023-2026H1). As The Origin of RGB MiniLED, Hisense continues to lead the next-generation RGB MiniLED innovation. As the official sponsor of the FIFA World Cup 2026TM, Hisense is committed to global sports partnerships as a way to connect with audiences worldwide.

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Roborock Reports 27.6% Revenue Growth in H1 2026, Reinforcing Global Market Leadership

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BERLIN, Sept. 6, 2026 /PRNewswire/ — Roborock, a global leader in home robotics engineered to simplify daily life, reported revenue of RMB 10.084 billion in the first half of 2026, up 27.6% year on year, while net profit attributable to shareholders rose 45.6% to RMB 986 million. The company also reached a new global milestone, with Roborock recognized as the world’s No.1 robotic vacuum cleaner brand by both IDC and Euromonitor International.

Global Expansion Continues to Strengthen Growth

Roborock’s international business continued to deliver strong growth in H1 2026 across both mature and high-potential markets. During Amazon Prime Day 2026, Roborock ranked No.1 in the robotic vacuum category in Germany, the United Kingdom, Spain, the Netherlands, Belgium, the United States and Canada. In Europe, Roborock reached a 45% share of the robotic vacuum market, with unit sales up 24% year on year, while wet-dry vacuum unit sales grew 112%. In North America, Roborock reached a 33% share of the robotic vacuum market, with unit sales increasing 30% year on year.

Momentum was also strong across key Asia-Pacific markets. Roborock ranked No.1 in both unit shipments and sales value in Australia, Korea, Taiwan region and Türkiye from Q1 2023 to Q1 2026. In Korea, the brand maintained more than 70% share of the premium robotic vacuum segment, while the S10 MaxV Ultra generated approximately KRW 28 billion in sales within ten days of its February 2026 launch. In Japan, Roborock continued to deepen its premium retail presence through cooperation with Yamada Denki, including dedicated brand displays and nationwide availability of flagship products. Across Asia-Pacific, the company continued to combine its global technology platform with localized channel, marketing and service strategies.

Roborock’s global leadership has also been independently recognized by IDC and Euromonitor International. According to IDC, Roborock ranked No.1 globally by both unit shipments and sales value among robotic vacuum brands in H1 2026, while Euromonitor International ranked the brand No.1 globally by retail sales value in 2025. Together, the two rankings reinforce Roborock’s global market leadership and reflect sustained consumer demand worldwide.

Sustained R&D Investment Supports Long-Term Competitiveness

Roborock continued to invest heavily in technology in the first half of 2026, with R&D spending reaching RMB 720 million, up 5.11% year on year and accounting for 7.14% of revenue. The company continues to build capabilities in intelligent navigation, AI-powered environmental perception, cleaning systems and robotic mobility, while increasingly bringing these technologies together at the system level rather than improving individual specifications in isolation. This integrated approach allows technologies proven in flagship products to be brought into a wider range of models and price segments, helping Roborock strengthen its portfolio while making advanced features available to more consumers.

IFA 2026 Highlights the Next Phase of Innovation

At IFA 2026, Roborock is showcasing its latest advances across indoor and outdoor cleaning. Its new robot vacuums and wet-dry vacuums bring advances in steam-powered care, adaptive cleaning and whole-home versatility, while the Roborock Saros Rover introduces a two-wheel-leg architecture designed to expand robotic mobility beyond flat floors. Roborock is also broadening its intelligent cleaning ecosystem with the debut of the RockAqua P1, its first intelligent pool cleaner, alongside the RockNeo Q2 LiDAR robotic mower, extending its autonomous cleaning capabilities across floors, pools and gardens.

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