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Apple To Boost China Investments as Demand Slows

19Aug By reutersNo Comments

BUSINESS, CHINA

Apple To Boost China Investments as Demand Slows

Apple Inc will boost its investment in China, one of its largest but increasingly challenging markets, and build its first Asia-Pacific research and development center in the country, Chief Executive Tim Cook said on Tuesday. Cook made the pledge during a trip to China, at least his second in four months, as demand for Apple's iPhones has plummeted in the world's second-largest economy and the government remains wary about foreign technology. Apple's new research and development center will be built by the end of the year, Cook told Vice Premier Zhang Gaoli, one of China's most senior officials, according to CCTV, the official Chinese state broadcaster. The center will unite Apple's engineering and operations teams in China and is also intended to deepen the company's ties to part...

19Aug By NitishNo Comments

FUNDING

Cuberoot Technologies Raises Nearly $0.5 Million in Funding

Cuberoot Technologies, a preeminent data driven technology company, recently raised nearly USD 0.5 million from undisclosed investors. The funds will assist the organization to expand its business across the country and shall further be utilized in scaling up growth parameters such as expansion of technology team, enhancing product technology, investing in better infrastructure and strategic acquisitions. Cuberoot is geared to launch its flagship product; an Audience Management Platform also known as Cuberoot in the Indian market in the coming months, expanding to other cities in the upcoming months. Also,the company will be incorporating bases in Asia - Pacific market over the next 12-18 months. Such installations of sufficient funds will play a major role in the growth of the or...

8Aug By AnkitaNo Comments

FUNDING

AdPushup Raises Series A Funding; Enters into Partnership With Japan’s Largest Supply

US-based ad tech startup AdPushup, creator of a patent-pending ad layout optimization platform, has secured an undisclosed amount of financing as part of its Series A round led by Geniee Inc , whose major shareholder is SoftBank Group Corp; other investors include Purvi Capital, and existing investors have also participated in the round. The companies have also formed a strategic partnership aimed at extending services to Japan and Southeast Asia and collaborating mutually on proprietary ad optimization technologies. Geniee currently serves over 60 billion impressions every month in this region, which are to be further optimized using the machine-learning driven ad layout optimization platform developed by AdPushup. Both companies aim to bring together their strengths in terms of pro...

5Jul By NitishNo Comments

FUNDING

Fintech Startup NeoGrowth Raises $35mn

Fintech startup NeoGrowth has raised USD 35 million (about Rs 225 crore) of equity from IIFL Asset Management and existing investors, including Accion Frontier Inclusion Fund, managed by Quona Capital. A significant portion of the equity was raised in the current round and other existing investors ? Omidyar Network, Aspada Investments and Khosla Impact ? also participated in the funding, IIFL said in a statement here. NeoGrowth will use the funds to help small retailers, including qualified borrowers with little or no credit history, access credit in the country, it said. Using a data and technology-driven approach, the company provides small and mid-sized retail enterprises with flexible, innovative loan products that are secured against retailers future credit card and debit sal...

Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

5Jul By reutersNo Comments

FUNDING

Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

U.S. biotech company Monsanto Co and Microsoft Corp announced on Monday a partnership to invest in agricultural technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said. Selected ideas will receive initial funding of up to 1.5 million reais ($459,000) for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity. "We want to foster new startups in the agricultural sector. There is a vast area for research and development," Rodrigo Santos, head of Monsanto in Latin America, told reporters on the sidelines of the ...

Virtual Reality, App-Based Tools to Transform India’s Auto Sector: Umang Kumar, CEO, CarDekho.com

4Jul By AnkitaNo Comments

Entrepreneurs Talk

Virtual Reality, App-Based Tools to Transform India’s Auto Sector: Umang Kumar, CEO, CarDekho.com

India's leading online automobile portal CarDekho.com has partnered with World Auto Forum to present the Thirteenth India Vehicle Marketing and Sales Summit 2016, themed on 'The Balancing Act'. The event held discussions over the future roadmap of the Indian automobile sector. It was attended by several industry stalwarts such as marketing and sales heads from prominent auto OEMs, CEOs and MDs of big dealer groups, heads of marketing agencies and representatives of companies of cloud computing as well as social media experts. The summit showcased gradual inclination of the industry towards a more digitized approach using tech tools for customer relationship management, big data for effective business operations and apps for inventory management to reduce costs. With an enhanced fo...

Artificial Intelligence: A Future Face Of The Startups

3Jul By RishabhNo Comments

BLOGS

Artificial Intelligence: A Future Face Of The Startups

With the effort of Tesla of introducing AI to self- drive capability,it has shown others the infinite possibilities AI is sitting upon! In the near future, AI might get so involved and integrated in our daily lives that we could not imagine a service without it. The field of artificial intelligence has a transformative capability over many things that govern our daily lives. Companies from the fields of Tech and Automobiles are leaving no stones unturned to integrate AI in their systems. Legacy companies won't have a choice — consumer demand will compel them to invest in new technologies and AI is a prime example of the breakthroughs they seek. As computers get smarter and learn more, many of the factors causing accidents, injuries and fatalities will disappear. With the adv...

IRCTC Tie-Up With Defence Food Research For Better Food Quality in Trains

28Jun By AdityaNo Comments

News

IRCTC Tie-Up With Defence Food Research For Better Food Quality in Trains

Seeking to upgrade its catering operations, Indian Railway Catering and Tourism Corporation (IRCTC) today signed an agreement with the Defence Food Research Laboratory (DFRL) here for transfer of technology in food and beverage processing and packaging. Under the agreement, DFRL, a Defence Ministry establishment under Defence Research and Development Organisation (DRDO), will transfer the technical know how and testing for quality assurance to IRCTCs ready-to-eat packaged food for the rail travelers. The Licensing Agreement for Transfer of Technology (ToT) was initiated by IRCTC Chairman and Managing Director (CMD) A K Manocha and DFRL Director Rakesh Kumar Sharma, an IRCTC release said. "IRCTC has been taking several new initiatives to upgrade, professionalise and standardize its cat...

Alipay Could Acquire Stakes in German Banking Software Wirecard

27Jun By PriyankaNo Comments

CHINA

Alipay Could Acquire Stakes in German Banking Software Wirecard

Wirecard AG is negotiating with representatives of Alipay, a unit of Chinese e-commerce giant Alibaba, about it taking a stake of up to 25 percent in the German banking software company, a newspaper reported on Sunday. Without citing its sources, the Bild am Sonntag weekly said Wirecard was in confidential talks with Alipay about it taking a stake of up to 25 percent, and possibly more later. A Wirecard spokeswoman declined to comment on the specifics of the report but confirmed that the company was in strategic talks with various partners, without elaborating. A source familiar with the matter said Ant Financial, which operates the Alipay platform, was not talking to Wirecard about an investment. In December, the two companies agreed to a deal to provide mobile phone payment servi...

PayPal appoints Anupam Pahuja as India Country Manager and MD

22Jun By AnkitaNo Comments

News

PayPal appoints Anupam Pahuja as India Country Manager and MD

Global payments platform PayPal today said it has appointed Anupam Pahuja as the Managing Director and Country Manager for its India operations. Pahuja has been with the company for over six years, heading technology for APAC, PayPal said in a statement. As the MD & Country Manager for India, he will be responsible for all aspects of PayPal’s India business and further strengthening the company’s operations in India, he added. “India continues to be a key part of PayPal’s growth strategy. In India’s fast-growing e-commerce and payments market, we have enabled hundreds of thousands of small and medium businesses and entrepreneurs participate in the global economy,” PayPal Asia Pacific CEO Rohan Mahadevan said. With Pahuja’s appointment as the business leader of this market, Pa...

Apple Will Have to Re-submit Its Application For Opening Retail Stores in India

22Jun By Press Trust of IndiaNo Comments

News

Apple Will Have to Re-submit Its Application For Opening Retail Stores in India

US technology giant Apple Inc will have to re-submit its application for opening single brand retail trade stores in the country and issues concerning "cutting edge" technology will be settled by the concerned administrative ministry, an official said. In light of the changes in the FDI policy announced yesterday, the official said, Apple will have to submit fresh application for opening single brand retail stores to seek exemption from local sourcing norms. Under the modified single brand FDI policy, companies using cutting edge technology will be exempted from meeting the local sourcing norm for first three years. Thereafter, in the next five years the company will have to meet the domestic sourcing norm at an annualised average rate of 30 per cent. "After a proposal comes to th...

21Jun By PriyankaNo Comments

News

Facebook Investors Announced New Share Class To Remove Zuckerberg’s Control over Facebook

<span class="articleLocation" style="transform: translate3d(0px, 0px, 0px);">Facebook Inc shareholders approved a proposal to create a new class of non-voting shares, a move aimed at letting Chief Executive Officer Mark Zuckerberg give away his wealth without relinquishing control of the social media company he founded. The company's plan to issue two "Class C" shares for each Class A and Class B share held by shareholders, in what is effectively a 3-for-1 stock split, was approved by Facebook shareholders at the company's annual general meeting on Monday. The Class C shares will be publicly traded under a new symbol. Zuckerberg said in December that he intended to put 99 percent of his Facebook shares into a new philanthropy project focusing on human potential and equality. ...