Aditya | Pixr8 News

9May By AdityaNo Comments

FUNDING

TagBox raises $3.85 mn from TVS Motor

TVS Motor Company has invested USD 3.85 million (about Rs 26.69 crore) in TagBox, a machine learning platform company as part of its Series A funding round. This round was entirely led by TVS Motor Company and its Singapore based subsidiary TVS Motor (Singapore) Pte Limited, the company said in a statement on Wednesday. The current investment in Tagbox is part of the initial set of investments, being made in strategically relevant digital startups, it said. TagBox plans to use the funds to strengthen product innovation and R&D, while expanding its global footprint, it added. Launched in 2016, Tagbox Solution provides a coldchain solution, food spoilage, product damage, real-time signal for theft and pilferage. TagBox was started with the vision of enabling organization...

Siemens will cut off 10,000 Jobs amid Slowdown

8May By AdityaNo Comments

News

Siemens will cut off 10,000 Jobs amid Slowdown

German industrial equipment and technology supplier Siemens AG says net profit fell 5 per cent in the first three months of the year as the company heads into a major restructuring involving the spinoff of its oil, gas and power generation business. The company said Wednesday that net profit was 1.92 billion euros (USD 2.15 billion), down from 2.02 billion a year earlier, when earnings were boosted by 900 million euros by a share transfer. Revenue rose 4 per cent to 20.93 billion euros. The news comes after Siemens said late Tuesday it would spin off its division that makes power turbines while cutting costs at its remaining businesses. The company said it would drop 10,400 jobs but expected to create 20,500 more through growth through 2023, leading to a ...

On demand delivery startup raises $1 billion from Softbank

7May By AdityaNo Comments

FUNDING

On demand delivery startup raises $1 billion from Softbank

BOGOTÁ, Colombia-- Rappi, an on-demand delivery startup operating in Latin America, today announced an investment of up to $1 billion from SoftBank Group Corp. (“SBG”) and SoftBank Vision Fund (“Vision Fund”). The investment marks the largest technology financing to date in a Latin America-based company. SBG and the Vision Fund will each invest up to $500 million in Rappi. “SoftBank’s vision of accelerating the technology revolution deeply resonated with our mission of improving how people live through digital payments and a super-app for everything consumers need. We will continue to focus on building innovations for couriers, restaurants, retailers and start-ups that translate into new sources of growth" Founded in 2015, Rappi has emerged as the leading service app in the ...

Walmart Head Visited Flipkart Office to celebrate first Partnership Anniversary

4May By AdityaNo Comments

News

Walmart Head Visited Flipkart Office to celebrate first Partnership Anniversary

President and CEO Walmart International Judith McKenna visited Flipkart to celebrate the first anniversary of the partnership between the two companies, the city-headquartered e-commerce firm said Friday. Judith visited India for an internal business trip from April 30 to May 3, which was a chance for her to interact with Flipkart Group leadership and employees in celebrating the one-year anniversary of the partnership with Walmart, Flipkart said in a release. She was accompanied by Richard Mayfield, CFO Walmart International, and Leigh Hopkins, International Strategy & Business Development Head, it said. Walmart Inc in May last year had announced that it is buying 77 percent stake in Flipkart for about USD 16 billion (Rs 1.05 lakh crore), its biggest deal which will give the...

Facebook considering its own cryptocurrency Payments

3May By AdityaNo Comments

News

Facebook considering its own cryptocurrency Payments

As per the news reports, the social media giant Facebook plans its own cryptocurrency-based payment system that it could launch for billions of users worldwide. The system would use a digital coin similar to bitcoin, but different in that Facebook would aim to keep the coin's value stable. Bitcoin and similar cryptocurrencies have been susceptible to wild fluctuations in value.It could reportedly undermine credit cards by sidestepping the processing fees that generate much of their revenue. The news said Facebook is recruiting dozens of financial firms and online merchants to launch the network. Facebook's plans may include ways to financially reward users who interact with ads or other features. Facebook says only that it is exploring many different applications for crypto...

3May By AdityaNo Comments

INDIA

Indian Telecom company Vodafone-Idea signs multi-million dollar deal with IBM

NEW DELHI: India's largest telecom operator Vodafone Idea Ltd on Friday announced a five-year multi-million-dollar IT outsourcing deal with tech giant IBM. "This engagement will also contribute to Vodafone Idea's merger synergy objectives by reducing its IT related costs," the telecom firm said in a statement. The company did not divulge the size of the deal but some reports pegged it at about $700 million. "The collaboration will provide Vodafone Idea with a hybrid cloud based digital platform to enable more intimate engagement with its over 387 million subscribers (as of 31 December, 2018), enhancing business efficiency, agility and scale plus simplification of its business processes," it said. The new infrastructure platform will remove constraints to the exponential growth...

2May By AdityaNo Comments

FUNDING

1-India Family Mart raises INR $2.87 million debt funding

New Delhi, May 02, 2019: 1-India Family Mart, a fast growing value retail chain owned by Nysaa Retail Private Limited offering affordable and fresh fashion apparels, lifestyle products and general merchandise has raised debt funding worth $2.87 million (INR 20 crores). The funding, led by APAC Financial Service Private Limited will be leveraged by the company for expanding to newer geographies as well as for its working capital requirements. Endeavouring to match the fashion aspirations of individuals living in small towns which they can afford, 1- India Family Mart currently stands strong with 90 stores across 81 cities of Eastern and Northern India; generating revenue over INR 400 Crores. Commenting on securing the funds, Deepak Sharma, Chief Financial Officer, 1-India Family ...

Facebook building privacy-focussed social media platform: Zuckerberg at f8 summit

1May By AdityaNo Comments

Entrepreneurs Talk

Facebook building privacy-focussed social media platform: Zuckerberg at f8 summit

Mark Zuckerberg at the Facebook annual f8 event announced that the company was committed to building a "privacy-focussed" social platform to ensure that conversations stay private and user data is secure across its products like Messenger, WhatsApp, and Instagram. He acknowledged that there are privacy concerns related to its platforms, but asserted that he remains committed to bringing in changes and "starting a new chapter". "As the world gets bigger and more connected, we need that sense of intimacy more than ever. So that is why I believe the future is private," Mark said. "This is the next chapter for our services... We don't exactly have the strongest reputation on privacy right now, to put it lightly. But I'm committed to doing this well and starting a new chapter for our ...

Slack announce direct Listing, Will not go for traditional IPO

29Apr By AdityaNo Comments

Market

Slack announce direct Listing, Will not go for traditional IPO

Slack Technologies, Inc. announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions. As per the information, Slack opt for a direct listing as opposed to a traditional IPO. This kind of listing gives other small investors to sell their shares to large investors - a strategy which follows for early trading. Slack is hoping for a valuation of more than $10 billion in the listing. However, the company did not specify the exact number of shares for the listing. Founded in 2013, Slack allows teams and...

Future of Betting Industry and its impact

28Apr By AdityaNo Comments

Story

Future of Betting Industry and its impact

Note: This article is originally written by us and if you find any similar content on the other websites, kindly inform us at info@pixr8.com. How many of you involved in betting? I know the positive answers are few but the recent trend from 2017 to till now shows a huge growth in the betting industry. How? The answer is online betting! The Betting business is shifting gear from a casino game to a mobile app. Now in most of the countries betting games are running as an online platform or a fantasy game (where it's not legalized). As per the latest data, 40% of the betting orders in the world placed by a mobile app. To clear the picture more, here is our analysis, Starting with Asia (a newcomer in betting market) Recently we came across the news in India, Dream11 an on...

Facebook Filed a lawsuit against a New Zealand company for selling fake likes

26Apr By AdityaNo Comments

News

Facebook Filed a lawsuit against a New Zealand company for selling fake likes

Facebook filed a lawsuit against a New Zealand company from selling fake "likes," views and followers to Instagram users in US federal court. Facebook requests US fedral court to bar them for further operations. The company and three people targeted in the lawsuit operated a service to raise the profile of Instagram accounts by bolstering them with bogus followers, views and "likes," Facebook director of platform enforcement and litigation Jessica Romero said. "By filing the lawsuit, we are sending a message that this kind of fraudulent activity is not tolerated on our services, and we will act to protect the integrity of our platform," Romero said. Romero did not identify the company or the individuals names in the legal complaint, which accused them of using fake businesses ...

Netcore Acquires Quinto.ai, an AI Chatbot Start-up

23Apr By AdityaNo Comments

ACQUISITION

Netcore Acquires Quinto.ai, an AI Chatbot Start-up

Netcore Solutions, a Global Marketing technology company, has acquired Quinto.ai, an AI chatbot start-up. With the IP and talent acquisition, Netcore gets access to Quinto's conversational AI-powered chatbot engine and its employees. Quinto's co-founder Hrishikesh Rajpathak also joins Netcore as Chief Data Scientist and will lead its Machine Learning and Conversation Analytics initiatives. Hrishikesh comes with over 12 years of experience in Machine Learning, Deep Learning and Natural Language Processing(NLP) technologies. He has worked with multiple international clients in life sciences and BFSI domain as an AI consultant. He co-founded Quinto 4 years back as a food recommendation platform which later pivoted to a conversational AI platform. Quinto enables businesses to a...