Startup news and updates: Daily roundup (November 15, 2024)

Peak Sustainability Ventures leads investment in Hydrogen Mem-Tech

Peak Sustainability Ventures, a sustainability-focused venture capital firm, has co-led a strategic investment in Hydrogen Mem-Tech, a Norway-based company involved in hydrogen separation technology, alongside London-based AP Ventures. This investment gives Peak a 10.5% ownership stake.

Hydrogen Mem-Tech is backed by climate investors including Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, and SINTEF.

Samir Shah will join the company's board of directors. Hydrogen Mem-Tech will use the new funding to expand its operations and develop a hydrogen separation unit that will expand its current capacity by 5X.

Bombay HC rules against Anupam Mittal’s Mauj Mobile

Bombay High Court has set aside an earlier order granting Mauj Mobile Private Limited, founded by Anupam Mittal of Shark Tank India fame, leave to defend in a commercial suit brought by Lebanon-based company Mobile Arts Private Limited. 

The court ruled that Mauj Mobile was not entitled to any form of leave to defend, conditional or otherwise, making the summons for judgment absolute.  

The suit, which involves unpaid advertising service fees for Mauj Mobile brands “Gamesbond” and “Video Vogue”, was filed by Advocate Pankaj Mehta of Delhi-based Fortune Legal Advocates. The commercial dispute centres around outstanding payments totalling over $115,550 along with a 6% interest accrued over the past four years. Mobile Arts, a digital advertising service provider, initiated the suit after Mauj Mobile allegedly failed to clear dues for promotional services provided across the UAE and the Middle East.

(This article will be updated with the latest news throughout the day.)