Sona BLW Precision Forgings Ltd (Sona Comstar), a global provider of automotive technology solutions, has signed an agreement to acquire a 54 percent equity stake in NOVELIC, a Serbia-based company founded in 2012 and a provider of mmWave radar sensors, perception solutions and full-stack embedded systems.

The equity stake will be acquired for €40.5 million through a combination of primary and secondary purchases with a staggered payment structure in the ratio of 60:20:20 at closing, 12 months and 24 months, respectively. Sona Comstar states that the transaction values NOVELIC at an enterprise value (EV) of €64.5 million on a pre-money basis and €75 million on a post-money basis, with an implied valuation multiple of 26 times CY22 Estimated PAT. The transaction is expected to close by the end of Q4 FY23 and is subject to customary closing conditions.

Sona Comstar claims that the acquisition is expected to be EPS accretive for it from the first year and offers strong growth opportunities over the medium term. The acquisition of NOVELIC is accretive to Sona Comstar's management bandwidth, given a shared cultural commitment to innovation, technology and profitability, states the automotive technology solutions provider.

In line with its strategic roadmap, Sona Comstar is foraying into the ADAS sensor market. With the acquisition, Sona Comstar states that it has started building its third business vertical of ADAS sensors and software to address the megatrends of increasing vehicle autonomy and automation.

According to Sona Comstar, NOVELIC's mmWave radar technology is the best solution for in-cabin sensing due to its high accuracy, lower cost and privacy protection of occupants' privacy. Through its sophisticated radar design and signal processing algorithm, NOVELIC's in-cabin monitoring solution detects life presence (LPD), child presence (CPD) and seat occupancy (SOD) amongst others. As per Sona Comstar, NOVELIC's in-cabin solution is highly accurate as it works under all light conditions, detects vital signs (heart rate and respiration) and locates objects anywhere in the cabin. NOVELIC's mmWave radar-based solution removes the need for weight sensors and associated wiring harnesses, resulting in significant cost savings for carmakers. Unlike cameras, mmWave radar-based in-cabin sensing protects the privacy of occupants in the car, claims Sona Comstar.

The current NOVELIC team, led by its founders Darko Tasovac, Veljko Mihaljovic and Dr Veselin Brankovic, will continue to lead the operations, ensuring continuity while leveraging Sona Comstar's scale and customer access for business development. According to Sona Comstar, the founders will hold 46 percent equity in NOVELIC after the completion of the transaction. 

Commenting on the acquisition, Vivek Vikram Singh, Managing Director and Group CEO of Sona Comstar, said, “I am excited to welcome NOVELIC to the Sona Comstar family. With this acquisition, we have added market leading, in-cabin radar-sensing technology to our technology offering. Increasing vehicle autonomy and automation is an emerging technology revolution in our industry. As we had done with EVs in 2016, we are taking a meaningful early step in the direction of the electrified autonomous vehicles or e-AV. NOVELIC adds the hardware and software capabilities to design integrated systems for autonomous driving, including AI and ML as well as ASIC experience, to what we already have in mechanical, electric and electronic abilities. It is the beginning of building our third business vertical of sensors and software. In addition to its technology prowess, Novelic is unique in its approach to profitability and sustainable growth. In many ways, NOVELIC is like Sona in how we value money, technology and growth.”

Sharing his thoughts, Mihajlovic, Co-founder and CTO of NOVELIC, said, "NOVELIC was founded with a clear mission to develop end-to-end capabilities in mmWave radar technology and to commercialise it through various product lines. We started as a team of five, and today, we are over 160 people, among which 130 engineers and 10 PhDs developing product platforms at various European locations. We have managed to do it organically by providing value to our customers and generating and growing our revenue and profit year after year. For moving to the next phase of our growth, we are delighted to have a strategic partner in Sona Comstar which shares the same commitment to innovation and technology and will support us in scaling up our business. The moment we first interacted with the Sona Comstar team, we knew this was 'the one' because we had a great alignment of core values."

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French tier 1 supplier Valeo has expanded its presence in the electric vehicle ecosystem with the introduction of its advanced smart charging product range. The new lineup is being showcased at the Drive to Zero event at Paris Expo Porte de Versailles.

For the first time, the company is demonstrating its new Ineez AC charging station, which features native integration of bidirectional Vehicle-to-Grid (V2G) technology and the ISO 15118-20 communication protocol. The implementation transforms the traditional vehicle charging point into an active hub capable of optimising local energy flows and reducing user costs by allowing real-time interaction between electric vehicles and the power grid.

The core software and hardware architecture powering Valeo's V2G charging equipment utilises a technology platform originally engineered by IoTecha, which is now owned by Valeo.

This system combines updated communication networks with a cloud-based IoT.ON management platform to secure baseline interoperability between the EV, the charger and the local utility provider.

It utilises ISO 15118-20 protocol, which serves as a secure, universal digital interface between the vehicle and the hardware to guarantee ultra-secure data transfers and support bidirectional energy flows. Embedded software stacks allow for localised implementation of varying international grid codes, optimising hardware functionality according to specific geographic requirements.

The autocharge feature streamlines the consumer charging process by incorporating automatic, cardless user authentication upon plug-in. The bidirectional power flow enables electric vehicles to feed stored energy back into power grids or localised buildings during peak energy demand periods, serving as a functional tool for asset monetisation.

At the event, Valeo is exhibiting its full Ineez commercial portfolio, structured to target residential, commercial, industrial and fleet applications including – Smart Unidirectional (V1G) AC Stations, Advanced Bidirectional (V2G) AC Stations, Energy Management Systems and Ancillary Hardware.

Isabelle D’Ambrosio, Vice-President of Smart Mobility, Valeo, said, “At Valeo, we are combining our industrial excellence and software protocols, to make advanced energy flexibility both accessible and future-proof for our customers, expanding our reach beyond the traditional automotive technology. We are proud to present our latest Ineez AC charging station that offers Vehicle-to-grid technology as well as the latest communication protocol that secures a safe interface between the vehicle and the charging station.”

Oleg Logvinov, Founder, IoTecha, added, “As EV infrastructure becomes woven into the fabric of daily life – from the driveway to the highway – the potential for asset monetisation scales exponentially. IoTecha’s platform, now a part of Valeo’s global ecosystem, bridges the gap between simple charging and smart monetisation. We aren’t just charging vehicles; we are providing a one-stop shop to turn every EV into a high-performance revenue engine.”

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Synopsys, Inc., a prominent provider of silicon-to-systems design solutions, will host its annual flagship Synopsys User Group (SNUG) India 2026 conference at the Sheraton Grand Bengaluru Whitefield Hotel on 18 June 2026.

The one-day event serves as a collaborative platform for semiconductor design engineers, technology executives and ecosystem partners across India's electronics and systems engineering sectors to discuss developments in the era of pervasive artificial intelligence.

The conference will open with a keynote presentation delivered by Ravi Subramanian, Chief Product Management Officer at Synopsys, titled ‘Re-Engineering the Future of Silicon’. The address will examine the structural transformations occurring within engineering design and development workflows, driven by specific technical shifts:

• AI and Agentic Workflows: Exploring how machine learning and autonomous agent frameworks are optimising traditional silicon layout and verification pipelines.
• Silicon-to-Systems Innovation: Evaluating the accelerating convergence of standard silicon design, multiphysics analysis and intelligent system engineering to manage high design complexity.
• Accelerated Innovation Cycles: Addressing the challenges organisational engineering teams face during truncated development timelines for complex semiconductor products.

As software-defined architectures and AI transform product development paradigms, SNUG India 2026 will run multi-track sessions detailing next-generation engineering workflows. The technical program will incorporate peer-reviewed customer presentations, expert panels and technical deep-dives covering – AI-enabled semiconductor engineering & automation tools; 3DIC and advanced packaging; managing signal integrity & layout density in multi-dye chip architectures; multiphysics chip design & hardware-assisted verification systems and design methodologies for software-defined systems.

Sudeep Kallappa Shivalli, Regional Senior Director, Go To Market at Synopsys, said, “SNUG India 2026 reflects the spirit of collaboration and innovation that has defined the Synopsys Users Group community for over three decades. As engineering teams navigate unprecedented complexity driven by AI, intelligent systems and software-defined products, platforms like this becomes increasingly important for bringing together customers, partners and technology experts to exchange insights, share experiences and collectively shape the future of innovation.”

File photo: Synopsys 2025

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Pune-based automotive component manufacturer Varroc Engineering has announced inked a Strategic Cooperation Agreement with Suzhou Tolyy Optronics Co (TOLYY).

The strategic partnership establishes a joint framework for select programs to localise and supply next-generation digital cockpit solutions for global passenger and commercial vehicle platforms.

The alliance establishes a co-development and manufacturing platform aimed at securing joint market participation across India, Europe and North America.

As per the understanding, TOLYY will support Varroc through a multi-tiered supply and localisation engineering model. This flexible framework includes two primary supply paths: the delivery of fully integrated display modules – encompassing display panels, backlight units, touch interfaces, protective enclosures and electronic control units (ECUs) – as well as screen-only component supply intended for localised final assembly within India.

Varroc will utilise these components to manage the overall system integration, technical validation and manufacturing of advanced automotive display solutions tailored to diverse vehicle applications.

The structural cooperation model is organised around three strategic operational pillars – program-specific module supply, localised Indian assembly and industrialisation rights.

This decentralised production approach is projected to accelerate product time-to-market, strengthen automotive component supply chain resilience and meet rising OEM demand for localised, high-technology electronics.

Dhruv Jain, Whole Time Director and CEO of Varroc Business II, said, “At Varroc, our endeavour is to deliver brilliance at scale by seamlessly integrating global innovation with localised execution. This partnership with TOLYY strengthens our ability to offer cutting-edge digital cockpit capabilities while enhancing supply chain resilience and supporting OEMs to provide safe, smart and sustainable mobility solutions.”

Strong Shi, President and CEO, TOLYY, added, “TOLYY is excited to embark on this strategic partnership with Varroc, a recognised leader in global automotive manufacturing. This alliance is a testament to the industry’s recognition of our cutting-edge display engineering and integrated module capabilities. By combining our advanced technologies with Varroc’s scale and deep customer access, we are not just supplying components but co-creating the next generation of digital cockpit experiences for key markets worldwide. This partnership accelerates our shared vision of setting new benchmarks for performance, quality and supply chain efficiency in automotive displays.”

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Uber, one of the leading rides-hailing platforms, has announced a strategic investment in the Open Network for Digital Commerce (ONDC). The transaction marks one of the earliest equity investments by a global technology firm into the network.

The capital infusion builds upon Uber’s existing operational integrations with ONDC and to expand user access to multimodal transportation architectures and optimise decentralised logistics frameworks for independent earners and commercial enterprises across the open network.

The deepening collaboration focuses heavily on bridging mass public transit networks with last-mile ride-sharing services under a unified application experience.

The move will see integrated metro rail ticketing features, which are currently live across five Indian cities through the Uber application. Consumers have booked more than 10 million metro rides utilising the Uber-ONDC interoperable infrastructure, indicating strong market demand for consolidated public transit options.

Beyond passenger transit, Uber plans to co-develop enhanced supply chain and logistics features alongside ONDC to improve discovery and delivery efficiencies for businesses operating on the digital platform.

Prabhjeet Singh, President of Uber India and South Asia, said, "India has been at the forefront of building Digital Public Infrastructure that is inclusive, interoperable, and transformative at scale. Our ongoing partnership with ONDC and now this investment puts us at the heart of that innovation journey. By investing in this network, we're helping more people move, more businesses grow, and more earners thrive harnessing the power of the ONDC network.”

Adil Zainulbhai, Independent Director, ONDC, added, "ONDC is a key pillar of India’s efforts to democratise digital commerce and create a level playing field for businesses of all sizes. Uber’s investment is a strong endorsement of India’s digital public infrastructure and its potential to drive innovation, efficiency and inclusive growth."

Image only for representational purposes.

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