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Cosmic CRF Limited Reports H2 & FY25 Performance Highlights

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Best ever performance on all parameters in FY25

Volume more than doubled due to capacity expansion and operational scale-up

KOLKATA, India, May 26, 2025 /PRNewswire/ — Cosmic CRF Limited, (Bloomberg: COSMICCR:IN) (BSE: 543928) has announced its financial results for the Half Year and year ended 31st March 2025.

Key Performance Highlights

Metric

FY25 (Consolidated)

FY24 (Standalone)

YoY%

Sales Volume

55,941 MT

24,657 MT

+127 %

Avg. Selling Price 

₹73,454 / MT

₹102,800 / MT

-28.6 %

Revenue

₹4,016.3 Mn

₹2,534.8 Mn

+58.4%*

*Note: FY24 revenue is standalone; FY25 figure is consolidated, including subsidiaries.

Sales Volume more than doubled (grew 127% to 55,941 tonnes) due to capacity expansion and operational scale-up. However, a significant fall in average selling price, driven by a ~32% drop in raw material prices, tempered revenue growth. As a result, while production surged, the revenue increase at 58.4% was not proportional to volume.

Key Financial Highlights – H2 FY25 (Standalone)

H2 FY25 Standalone Performance highlights vs H2FY24

Revenue, EBITDA and PAT grow 10%, 38.1% and 6.5% respectivelyEBITDA Margin expanded by 211 bps to 10.4%

Key Business Highlights – FY25

Capacity ExpansionInstalled Capacity (Standalone) reached 45,000 MTPA, reflecting a significant 41% increase from 32,000 MTPA in FY24 with the addition of one more 6000 sq. ft shed extensionNS Engineering Projects Private Limited Capacity (Subsidiary) has reached installed capacity of 65,000 MT in FY25 in line with our guidance. Achieved production of 15,000 MT subsequent to handover from NCLT in June 2024.Cosmic Springs & Engineering Pvt Ltd (Subsidiary)’s acquisition of Helical and Casnub Springs manufacturing unit, leading to capacity addition of 14400 spring sets per annumProcurement of land completed in May 2025 for setting up of forged components manufacturing unit to add value to our railways integration and supply to the railway wagon buildersOrder Book StatusAs of March 31, 2025, the unexecuted order book stands at INR 550 crore, representing 1.8x of FY25 revenue.NEW JVs / ACQUISITIONS for Growth, done during the yearCosmic Springs and Engineers Limited (subsidiary)Entered into Business Transfer Agreement (BTA) for acquisition of Helical and Casnub Springs manufacturing unit with an installed capacity of 14400 spring sets per annum. Cost of acquisition is around Rs. 25 crores – being funded by internal accruals and term loans from bankAcquired land parcel to set up state of art factory to produce forged components for wagons with installed capacity of 7200 MTPA, Capex would be ~45Cr and would be funded through internal accruals and / or term loan from bank. Production expected to start by February 2026Received confirmation from RP of Amzen transportation ltd to submit final resolution plan by 27th may 2025.Credit rating has been upgraded to BBB stable

Cash Flow Commentary – FY25

Key Metrics:Operating Cash Flow (OCF): ₹ (726) millionCapital Expenditure (CapEx): ₹ 468.5 millionFree Cash Flow (FCF): ₹ (1,194.5) million

While Cosmic CRF Ltd. posted a strong net profit of ₹3,082.57 lakhs in FY25, both Operating Cash Flow (OCF) and Free Cash Flow (FCF) were negative due to significant growth investments.

The negative OCF reflects temporary working capital buildup and other operational outflows tied to the scale-up of production and infrastructure.

Substantial CapEx was incurred for:Capacity expansionStrategic acquisitions

Modernization of plants and technology upgrades

Looking forward:The newly added capacities and acquisitions are expected to begin contributing to revenues and margins from FY26 onward.Working capital intensity will normalize, and operating leverage will improve.This will lead to a strong rebound in cash generation, with positive OCF and FCF expected as the benefits of investments materialize.

Way Forward:

Aiming to double sales volume every year over the next 3 yearsKey Drivers for Future Growth:Continue to grow scale of operationsDrive efficiency in capacity utilisationAdopt latest technologiesDiversify product offeringDeveloping a strong presence across the country and lay a strong emphasis on sustainability aspectsThe diversified order book will ensure that the company caters to both the growing sectors – Railways & InfrastructurePlans to acquire another Liquid Metal asset to leverage large steel requirements of the companyThe company continues to emphasize on operational excellence, product innovation, and long-term value creation for all stakeholders.

Commenting on the update, Mr. Aditya Vikram Birla, Chairman & Managing Director of Cosmic CRF Limited, said, “We are pleased to share that FY25 has been a landmark year for Cosmic CRF Limited, marked by our highest-ever revenue, EBITDA, and net profit. Our strategic focus on capacity expansion, operational excellence, and customer-centricity has delivered robust results across key financial and business metrics. Revenue, EBITDA, and PAT grew during H2 and full year FY25, underscoring the strong fundamentals and execution capabilities of our team.

During the year, we successfully scaled our standalone installed capacity by 41%, completed key acquisitions, and enhanced the technological and infrastructural backbone of our subsidiaries. These investments are already translating into enhanced output and greater value creation.

As we look to the future, we remain resolute in our commitment to doubling our volumes every year over the next five years. This will be driven by continued diversification of product offerings, adoption of advanced manufacturing technologies, and a sharp focus on efficiency and sustainability. Our growing and diversified order book positions us strongly in the fast-evolving Railways and Infrastructure sectors.

Despite negative cash flows in FY25, our profitability remains strong. The cash outflows are strategic in nature, aimed at long-term value creation through expansion and integration. With the foundation now laid, we anticipate a significant improvement in free cash flows starting FY26.

With our recent credit rating upgrade to BBB (Stable), we believe we are better poised than ever to leverage opportunities and scale new heights. Our mission remains clear – to create enduring value for all stakeholders through innovation, integrity, and impactful growth.”

About Cosmic CRF Limited

Incorporated in 2021, is a leading manufacturer of Cold Rolled Form (CRF), Sheet Piles, and Railway Components for railway wagon manufacturing, including Indian Railways. The company offers Customized Engineering Solutions with wide applications in Irrigation, Building, Automotive, Railway Wagons, and Other Industries. Operating advanced manufacturing facilities in Singur, Howrah & Jangalpur in West Bengal, Cosmic CRF Limited is committed to quality and industry standards. The company boasts a total installed capacity of 135,000 MTPA and an extensive product portfolio

For further information, please contact:
Cosmic CRF Limited
E: info@cosmiccrf.com
www.cosmiccrf.com

KAPTIFY® Consulting
Investor Relations | Strategy | Consulting
E: contact@kaptify.in | M: +91-845 288 6099
www.kaptify.in

Disclaimer

This document may contain certain forward-looking statements within the meaning of applicable securities law and regulations. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward–looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward–looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. Many factors could cause the actual results, performances, or achievements of the Company to be materially different from any future results, performances, or achievements. Significant factors that could make a difference to the Company’s operations include domestic and international economic conditions, changes in government regulations, tax regime and other statutes. The Company does not undertake to revise any forward– looking statement that may be made from time to time by or on behalf of the Company

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tonies® and BBC Studios bring Bluey to the Toniebox, expanding family storytelling through immersive audio play

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Family-favorite Bluey joins tonies’ leading interactive audio platform for childrenBluey stories, interactive Tonieplay experiences, and exclusive products will come to families around the world

PALO ALTO, Calif., June 17, 2026 /PRNewswire/ — tonies SE (“tonies”), the globally leading interactive audio platform for children, announces a partnership with BBC Studios to bring Bluey to the Toniebox for the first time. The collaboration expands one of the world’s most beloved TV series into immersive, audio-first experiences for kids and their families.

Available for pre-order in the U.S. today, June 17, on tonies.com and target.com, the partnership will introduce a range of Bluey experiences designed to inspire play, storytelling and shared family moments, including Classic Tonies, interactive Tonieplay adventures, and themed accessories inspired by the globally celebrated series.

Bluey joins the tonies family at a time of accelerating global growth, with more than 12 million Tonieboxes already sold worldwide. For families, the partnership brings another opportunity to experience Bluey beyond the screen. For tonies, it reinforces the company’s position as the destination for premium children’s storytelling and one of the world’s leading platforms for family entertainment and play.

Tobias Wann, CEO of tonies, says: “At tonies, we’re listening to our audience and responding to what excites them. Few brands capture family connection and playful storytelling quite like Bluey. For years, families around the world have asked for Bluey on the Toniebox, and we are incredibly proud to bring this beloved world to life in a way that feels uniquely tonies. This partnership is another powerful example of why many of the world’s leading family brands trust tonies to thoughtfully extend the stories fans already love.”

Suzy Raia, EVP Global Consumer Products at BBC Studios, adds: “Bluey has always encouraged children to jump into play, and tonies brings that spirit to life in a truly special way. We are especially excited by Tonieplay and how it invites families to actively take part in the stories they love. Together, we’re thoughtfully expanding the Bluey universe through immersive storytelling and play in ways that feel authentic, playful, and true to the heart of the brand.”

Rolling out across North America, DACH, the UK, France, Australia and New Zealand from June through October, the launch introduces families to an exclusive Bluey Tonieplay experience, developed in-house by tonies’ studio and adapted directly from fan-favourite moments from the series. Designed as immersive audio-first play, the experience invites children to step into Bluey’s world through interactive storytelling, playful challenges and adventures, and has been developed in close collaboration with BBC Studios to preserve the heart of Bluey while introducing a new way to engage with its characters and stories through hands-on play.

In addition, three Classic Tonies figurines including Bluey, Bingo, and Muffin will debut in North America, DACH, the UK, France and New Zealand. Themed accessories, including Bluey Listen and Play bags and a Bluey Toniebox 2 sleeve will be available across all markets.

Ginny McCormick, CXO of tonies, adds: “At tonies, we’ve spent more than a decade building expertise in how children naturally listen, imagine and play. That means every experience starts ears-first and every creative choice begins with protecting what families already love about a brand. With Bluey, we’re especially excited to pair that philosophy with our original Tonieplay innovation, creating experiences that help children actively step into a world they already know by heart”.

Since its debut in Australia in 2018, Bluey has built a global fanbase and become one of the world’s most-watched animated TV series. Known for its heartwarming storytelling, humour, and celebration of play and family life, the show has grown into a cultural phenomenon. Its success has been widely recognised across the industry, earning accolades from a BAFTA to multiple Emmy Awards, as well as the 2026 Toy of the Year Award for “License of the Year” for the second consecutive year.

Pre-order is live now at https://us.tonies.com/collections/bluey-collection & www.target.com.

About tonies

tonies® is the globally leading interactive audio platform for children redefining how children aged 1 to 9+ play, learn, and grow independently without screens. Since its founding in Germany in 2014, around 12.2 million Tonieboxes and over 165 million Tonies have been sold worldwide.

On average, children engage with tonies for ~280 minutes per week, making it a trusted everyday companion that brings the joy and magic of interactive audio entertainment and education into family life worldwide.

The intuitive and award-winning system – centered around Toniebox 2 – offers a portfolio of around 1,500 Tonies figurines and about 20 Tonieplay games and more than 3,500 digital titles via mytonies (library and app) – ranging from tonies Originals® to licensed content from around 350 partners including Disney, Warner Bros., NBC Universal, Mattel, Marvel, Paramount, Hasbro, Universal, Sony Music.

tonies is rapidly expanding its platform globally. Besides DACH, central growth regions include tonies’ largest market, North America, the United Kingdom and Ireland, France, Australia and New Zealand, with Tonieboxes now active in over 100 countries. tonies employs more than 630 people, achieved EUR 630 million in group revenue in fiscal year 2025 (+31% yoy), and is listed in the SDAX segment of Frankfurt Stock Exchange (tonies SE).

About Bluey

The series follows Bluey, a loveable, inexhaustible, blue heeler dog who lives with her Mum, Dad and her little sister, Bingo. Bluey uses her limitless energy to play games that unfold in unpredictable and hilarious ways, bringing her family and the whole neighbourhood into her world of fun.

Bluey is produced by Ludo Studio for ABC KIDS (Australia) and co-commissioned by ABC Children’s and BBC Studios Kids & Family. Financed in association with Screen Australia, Bluey is proudly 100% created, written, animated, and post produced in Brisbane Queensland, Australia, with funding from the Queensland Government through Screen Queensland and the Australian Government.

In Australia, the show is broadcast on ABC. The series airs and streams to U.S. and global audiences (outside of Australia, New Zealand, and China) across Disney Channel, Disney Jr., and Disney+ through a global broadcasting deal between BBC Studios and Disney Branded Television.

Bluey | Website | Facebook | Instagram | TikTok | YouTube 

About Ludo Studio

Ludo Studio is a BAFTA, multi-Emmy®, Logie and Peabody award-winning Australian studio and one of TIME’s Most Influential Companies of 2024, that creates and produces original scripted drama, animation and digital stories that are authored by incredible local talent, distributed globally and loved by audiences everywhere.

ludostudio.com.au

About BBC Studios Brands & Licensing

The BBC Studios Brands & Licensing division is the driving force in extending BBC Studios IP through innovative brand extensions, fostering deep fan engagement worldwide. Partnering our iconic brands – including Doctor Who and Bluey – with the world’s biggest brands, promoters, and publishers, ignites the imagination of fans and creates memorable brand-fame moments. Our diverse portfolio spans consumer products, live entertainment, gaming, and publishing, while BBC Studios Digital drives over 1 billion views per month, offering advertising and branded content opportunities. Supported by award-winning teams, we focus on finding visionary opportunities to enhance global brand impact and digital growth.

BBC Studios | Website | Press Office | X | LinkedIn | Instagram 

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Avalara CRUSH Europe 2026 Brings Tax and Compliance Leaders Together for the Agentic AI Era

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Customers and partners invited to register and hear directly from leaders transforming tax and compliance with AI

LONDON, June 17, 2026 /PRNewswire/ — Avalara, Inc., the agentic AI leader in global tax and compliance, today announced that registration is open for Avalara CRUSH Europe 2026, the company’s premier customer and partner event. Taking place on 8 October 2026 at The Dorchester in London, CRUSH Europe will bring together tax, finance, accounting, e-commerce, and technology leaders to explore how agentic AI is transforming tax and compliance.

Registration is now open at events.avalara.com/event/Europe/Home.

“Compliance leaders across Europe are being asked to navigate unprecedented regulatory change while finding new ways to drive efficiency and growth,” said Danny Fields, Chief Technology and Customer Operations Officer at Avalara. “CRUSH Europe is an opportunity for customers and partners to learn from industry experts, connect with peers, and see firsthand how agentic AI is transforming tax and compliance from a manual business burden into a strategic, automated advantage.”

Attendees can expect a curated agenda that includes:

Visionary keynotes and roundtables on agentic AI and the future of global tax and complianceLive product demonstrations showcasing Avalara’s most advanced technology, including Avi, Avalara’s AI tax and compliance agent, with capabilities spanning e-invoicing, tariff classification, exemption certificate management, and real-time tax code predictionFireside chats and customer stories featuring real-world perspectives from businesses navigating today’s most complex compliance challengesNetworking opportunities to connect with peers, Avalara leaders, and partners shaping the future of the industry

Space is limited at CRUSH Europe 2026 and early registration is encouraged.

Event Details
Date: 8 October 2026
Location: The Dorchester, London, UK
Registration: events.avalara.com/event/Europe/Home 

About Avalara
Avalara is the agentic AI platform for global tax and compliance. For more than two decades, Avalara has built one of the most expansive libraries of tax content and integrations in the industry, processing more than 54 billion transactions annually and supporting millions of businesses worldwide. The company’s purpose-built AI agents automate end-to-end compliance with greater precision, from tax calculations and return filings to exemption certificate management and beyond. For more information, visit Avalara.com.

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Digital champions CEE 2026: Total valuation nears 128 billion USD as deeptech and relocations reshape the region

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WARSAW, June 17, 2026 /PRNewswire/ — The Digital Poland Foundation published the 5th edition of the Digital Champions CEE 2026 report. The ranking of the 100 most valuable technology companies in Central and Eastern Europe reveals a combined market capitalisation of USD 127.9 billion — a robust year-on-year growth of 9.36%. Yet the headline figure only tells part of the story: had all companies that have since relocated or been acquired remained in the ranking, the total value would likely exceed USD 170 billion. The fifth edition of the report maps not only how the region has grown, but also where its most valuable assets have gone — and why.

Top 100 tech companies valued at USD 127.9 billion — and the USD 170 billion reality behind them

At the end of 2025, the 100 largest technology companies in Central and Eastern Europe achieved a combined market capitalisation of USD 127.9 billion, narrowing the gap to the region’s 2021 peak and confirming the continued resilience of the regional digital economy. The strongest growth came from the region’s largest players — the so-called “Digital Phoenixes” valued above USD 1 billion — whose combined valuation increased by 14.58% year-on-year to USD 101.05 billion.

However, the report highlights that official data significantly understates the true scale of value created by the region’s innovators. Many leading firms originating from the CEE region — such as ElevenLabs, Grammarly, ICEYE, Rimac, and Avast — have relocated their headquarters to the United States or the United Kingdom to raise capital or have been acquired by multinational corporations, removing them from the ranking. According to the authors of the report, if these mature companies still met the geographic criteria of the index, the total value of the top 100 technology companies from the CEE region would already exceed USD 170 billion.

“When the inaugural Digital Champions CEE ranking was launched, the region was framed as a ‘Digital Phoenix’ — a symbol of ambitious transformation emerging from post-communist economies. Five editions later, the trajectory remains strong, but the narrative has evolved. Against a backdrop of intensified global headwinds, companies across Central and Eastern Europe have shifted from rapid acceleration to more disciplined, resilient growth. This maturation has sharpened strategic focus: for many organisations, it has unlocked new avenues for expansion and innovation; for others, it has introduced heightened competitive pressure and a more complex, unpredictable operating environment,” said Radzym Wójcik, Counsel at Baker McKenzie.

Poland leads while the Baltics dominate by intensity

Poland remains the region’s largest technology ecosystem in absolute terms, accounting for USD 47.39 billion — or 37.05% — of the total regional value, with 42 companies in the Top 100 ranking. It is also the only market showing strength across all company maturity levels, from emerging scaleups to multi-billion-dollar champions.

The Baltic states, however, continue to outperform the region when measured by capitalisation intensity per capita. Estonia achieved the highest score in the ranking, significantly ahead of all other countries, while Lithuania recorded a 123.97% increase in total capitalisation since 2021. Latvia emerged as the fastest climber by intensity growth over the five-year period.

Together, Poland, Estonia, Lithuania, and Czechia now account for nearly 78% of the region’s total technology value. Croatia delivered the strongest long-term growth in percentage terms, with ecosystem value increasing by 170.7% since 2021, while Bulgaria nearly doubled its market capitalisation over the same period.

Deeptech and defence-related innovation reshape the ecosystem

While e-commerce and marketplace platforms remain the region’s largest value category, accounting for more than 36% of total capitalisation, the report identifies a major structural shift toward deeptech, space technology, healthtech, and dual-use innovation.

The “other” category — which includes deeptech and space tech companies — recorded the strongest year-on-year growth in the entire ranking, surging 87.59%. New high-value entrants such as EnduroSat and Creotech Instruments reflect increasing investor appetite for companies addressing defence, logistics, infrastructure, and strategic resilience.

“The composition of the ranking is also evolving. E-commerce, SaaS and fintech remain the backbone of CEE’s digital economy, but the list now points to a broader and more strategic technology base: robotics, space and Earth observation, cybersecurity, AI-native software, digital health, sovereign cloud and other infrastructure-oriented businesses. This shift shows that CEE is moving beyond consumer platforms and software scale-ups toward technologies directly linked to Europe’s productivity, security, resilience and digital sovereignty,” said Wojciech Świercz, Partner at Arthur D. Little.

Record VC exits confirm ecosystem maturity

The report also documents record levels of venture capital-backed exits across the region. Following 82 exits in 2024 — the highest number ever recorded — the ecosystem sustained momentum with 81 exits in 2025.

This marks a dramatic increase compared with just 31 exits in 2015 and confirms that Central and Eastern Europe has evolved from an emerging startup market into a mature ecosystem capable of producing a consistent pipeline of acquisition-ready and IPO-ready companies.

Venture capital investment across the region reached EUR 2.71 billion in 2025. However, the report notes that this figure includes approximately EUR 730 million in funding rounds raised by companies that had already relocated their headquarters outside the region. Those excluded rounds included major transactions involving ElevenLabs, ICEYE, Tachyum, and MaintainX.

The relocation dilemma: nearly half of CEE value has left the region

One of the report’s central conclusions concerns the increasing relocation of the region’s most successful technology companies to the United States and the United Kingdom.

According to data cited in the report, 48% of CEE scaleups have moved their headquarters abroad, primarily to access larger pools of growth capital. The United States attracts 56% of relocating companies, while the United Kingdom alone accounts for nearly one-quarter of all relocations. The report warns that this trend presents a broader strategic challenge for Europe’s competitiveness.

“Europe is increasingly being reduced to a highly skilled research and development layer for the American technology sector. Ideas are incubated locally, products are built locally, but the companies are ultimately financed, scaled, and frequently acquired by US capital,” said Piotr Mieczkowski, Managing director at Digital Poland Foundation.

Ukraine represents the most acute example of this dynamic. While the number of Ukrainian companies formally included in the ranking has declined sharply since 2021, many continue to maintain engineering and R&D operations within Ukraine despite relocating corporate headquarters abroad to secure international financing and ensure business continuity.

A new generation of CEE champions emerging

The report also reveals accelerating generational change within the regional ecosystem. Companies founded between 2017 and 2021 recorded the fastest valuation growth of any cohort, increasing their collective value by 189.09% since the first edition of the ranking.

At the same time, a core group of 49 companies has remained in the Top 100 throughout all five editions of the report, demonstrating the growing stability and resilience of the region’s leading technology players.

“Innovation today is the foundation of competitiveness, resilience and technological sovereignty for Poland and Europe. This is why BGK actively engages in building the innovation financing ecosystem through the Innovate Poland initiative, including the Future Tech Poland fund, as well as through the BGK Vinci investment fund. We also invest directly in funds supporting modern technological infrastructure. The Digital Champions CEE 2026 report demonstrates that our region possesses the talent, ambition and entrepreneurial strength which — with the right support — can translate into the growth of future European and global technology leaders,” said Jarosław Dąbrowski, Member of the Management Board at Bank Gospodarstwa Krajowego.

About the report

Digital Champions CEE 2026 is the fifth edition of the annual ranking of the 100 most valuable technology companies in Central and Eastern Europe. The report was first presented to the public at the Private Equity Insights Poland & CEE 2026 conference in Warsaw. The report covers both publicly listed and privately held companies across the broader CEE region, including the Baltic states and non-EU countries such as Serbia and Albania, while excluding Russia, Belarus, and Austria. The report is based on data from leading transaction monitoring platforms such as CB Insights, Crunchbase, Dealroom, PitchBook, Tracxn, PitchBook and Preqin, and is the result of collaboration with selected VC/PE funds and associations in the CEE region. The report is available to download free of charge from the Digital Poland foundation’s website. Arthur D. Little and Poland’s Bank Gospodarstwa Krajowego are strategic partners of the report; Baker McKenzie, MCI Capital and PFR Ventures are partners.

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Media contact:
Piotr Mieczkowski
Managing Director
Digital Poland Foundation
piotr.mieczkowski@digitalpoland.org
+48 605 132 645

 

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