Sunday, May 19

Author: Gauri Singh

myGate Secures $8.8 million in Series A Funding Round
16Oct By Gauri SinghNo Comments
FUNDING

myGate Secures $8.8 million in Series A Funding Round

Mobile-based security management solution for gated premises called myGate has secured funds amounting to Rs 65 crore (around $8.8 million) in Series A funding round. This round was led by existing investor Prime Venture Partners. The company is planning to utilize these funds to grow rapidly across 10 cities including Chennai, Mumbai and Delhi-NCR. It has not been mentioned whether any other backer took part in the funding round or not. myGate is owned and operated by Bengaluru-based Vivish Technologies Pvt. Ltd and was founded in 2016 by Vijay Arisetty, Abhishek Kumar, Vivaik Bhardwaj and Shreyans Daga. “Technology is pervasive and it was only a matter of time for the security at gated communities to be transformed using smart and intelligent solutions… We will expand the myGate t...
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Yang Huiyan Named as the Richest Woman in China for the Sixth Time
16Oct By Gauri SinghNo Comments
CHINA

Yang Huiyan Named as the Richest Woman in China for the Sixth Time

The vice-chairwoman of one of the largest property development company in China Country Garden has been named first on the list of the richest Chinese women for the sixth consecutive year. According to the Hurun Richest Woman in China 2018, Yang Huiyan is the richest woman in China. The wealth of the lady is around 150 billion yuan ($21.7 billion) and has topped the list followed by Wu Yajun who is the chairwoman of Longfor Properties with 58.5 billion yuan wealth. The third position was held by Chen Li who is the chairwoman of Fu Wah International Group with Hua (50.5 billion yuan) wealth. "China accounts for 60 percent of the world's most successful female entrepreneurs, while Chinese women make up one-fifth of the world's female population," said Rupert Hoogewerf, chairman and chi...
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Microsoft Co-founder Paul Allen Passed Away at 65
16Oct By Gauri SinghNo Comments
News

Microsoft Co-founder Paul Allen Passed Away at 65

The co-founder of software giant Microsoft Paul Allen has passed away in Seattle at the age of 65. Along with Microsoft, Allen also founded a privately held company in 1986 called Vulcan. It was two weeks ago that Allen tweeted and disclosed that the cancer, for which he was successfully treated nine years ago, had returned. He also mentioned that his doctors were “optimistic that I will see a good result.”   Some personal news: Recently, I learned the non-Hodgkin’s lymphoma I battled in 2009 has returned. I’ve begun treatment & my doctors are optimistic that I will see a good result. Appreciate the support I’ve received & count on it as I fight this challenge. https://t.co/ZolxS8lni5 — Paul Allen (@PaulGAllen) October 1, 2018   Vulcan released a statement t...
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AI Firm Worxogo Raises Funds from Inventus Capital & Ideaspring Capital
16Oct By Gauri SinghNo Comments
FUNDING

AI Firm Worxogo Raises Funds from Inventus Capital & Ideaspring Capital

Artificial Intelligence (AI) company Worxogo that offers a cognitive AI engine as a software-as-a-service or SaaS application has secured an amount of Rs 16.5 crore in its first funding round, which was led by Inventus Capital and Ideaspring Capital. The company plans to use these funds for the purpose of entering the US market, where it has also applied for a patent for its AI engine, called Mia. “The engine is based on behavioural science, neuroeconomics and AI, which, when integrated to the enterprise system, can serve as a cognitive digital assistant to nudge employees to improve productivity,” said CEO Ramesh Srinivas. The Worxogo app sends “nudge” notifications to employees on a daily basis to improve performance, based on the individuals’ behavioural patterns. The backers state...
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ZEE5 Brings on Board Former Twitter India Head Taranjeet Singh
16Oct By Gauri SinghNo Comments
News

ZEE5 Brings on Board Former Twitter India Head Taranjeet Singh

Entertainment company Zee Entertainment EnteEntertainment company Zee Entertainment Enterprises (ZEE) has taken on board former Twitter India country manager Taranjeet Singh. The company has appointed him as the chief revenue officer for its video-on-demand service ZEE5.rprises (ZEE) has taken on board former Twitter India country manager Taranjeet Singh. The company has appointed him as the chief revenue officer for its video-on-demand service ZEE5. Singh had put in his papers at the micro-blogging social network last month. At ZEE5, apart from looking after the revenues, the new chief revenue officer will also head new projects. Singh will be responsible to report in to Tarun Katial who is the CEO of ZEE5 India. “Taranjeet’s extensive experience in the media sector across print,...
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IT Firm Infosys Acquires Finland-based Fluido
15Oct By Gauri SinghNo Comments
ACQUISITION

IT Firm Infosys Acquires Finland-based Fluido

One of India’s largest IT company Infosys has announced the acquisition of Finland-based firm called Fluido. It was in September that the company stated that it would acquire  Fluido in a deal worth up to 65 million euros (over Rs 545 crore), including earn-out, management incentives and bonuses. Following this acquisition, the IT firm is expecting to strengthen its position as a leading Salesforce enterprise cloud services provider. Also, Infosys is looking forward to enhance its ability to provide clients with 'cloud-first' transformation. "With offices in Finland, Denmark, Sweden, Norway and Slovakia, Fluido elevates Infosys' presence across the Nordics region with developed assets and deep client relationships, a great team and an effective local culture," Infosys stated. Fluido i...
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Zomato to Raise $210 Million from Alibaba’s Online Payment Firm
15Oct By Gauri SinghNo Comments
FUNDING

Zomato to Raise $210 Million from Alibaba’s Online Payment Firm

The food delivery and restaurant discovery major Zomato has reportedly entered into a deal to raise funds amounting to $210 million (roughly Rs. 886 crores) from Alibaba's online payment platform Alipay Singapore. This funding news has come a few weeks after the food-ordering platform announced the acquisition of TongueStun, a Bengaluru-based startup that serves corporate catering space in six Indian cities. "[W]e would like to bring to your knowledge that Zomato has signed a definitive agreement to undertake a primary fund raise of approximately $210 million from Alipay Singapore Holding Pte Ltd (which is an existing shareholder of Zomato) and/ or any of its affiliates, and upon the closing of this fund raise," the regulatory filing mentioned. Prior to this, the company secured $150 ...
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Google Soon to Launch its ‘Shopping’ Tab in India
15Oct By Gauri SinghNo Comments
News

Google Soon to Launch its ‘Shopping’ Tab in India

The technology giant and the largest search engine Google is reportedly going to launch its ‘Shopping’ tab in India. This would allow users to search for products to buy and directing them to merchant websites or e-commerce platforms for product listings. The tab is currently in working and in a few months, the Shopping tab will be piloted soon, prior to a full-fledged launch before the end of the year. “We are always exploring options to help consumers find the products they want to buy more quickly and efficiently from local merchants,” a Google spokesperson stated. Google has been in talks with e-commerce players such as Flipkart, Paytm Mall and Snapdeal to join together in the company’s shopping tab initiative. Besides large e-commerce websites, Google is also expected to tap into...
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Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap
15Oct By Gauri SinghNo Comments
BUSINESS

Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

Three of the top 10 and India’s most valued companies together saw a dissolution of ₹1,07,026.12 crore in market capitalisation last week where IT major TCS took the biggest knock. The three companies that witnessed the same were Tata Consultancy Services (TCS), ITC and Infosys. The firms suffered a decline in their valuation for the week ended on Friday. On the other hand, RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India ended with gains. Altogether, the erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore that was made by the rest of the seven firms. The valuation of TCS plunged by Rs 85,330.17 crore Rs 7,19,857.48 crore. On the other hand, the market cap of Infosys slumped ₹18,696.68 ...
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Jack Ma to Launch an Institute of Entrepreneurs in Indonesia
15Oct By Gauri SinghNo Comments
CHINA

Jack Ma to Launch an Institute of Entrepreneurs in Indonesia

The founder and executive chairman of China’s largest e-commerce company Jack Ma is reportedly planning to open an institute to train thousands of tech entrepreneurs in Indonesia. However, he did not mention when Jack Ma Institute of Entrepreneurs would launch. The aim behind this move is to train 1,000 tech leaders a year over the next 10 years. "We're giving a lot of opportunities for young Indonesian people to learn," Jack Ma said. The co-founder of Alibaba said it is important for Indonesia to invest in human capital because "only when people improve, when people's minds change, when people's skills improve, then we can enter the digital period". Talking about Indonesia, the country has a lack of trained engineers in technology and the institute will also train hundreds of develop...
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After Instagram, Facebook Messenger Eyeing to Launch the Unsend Feature
15Oct By Gauri SinghNo Comments
Tech

After Instagram, Facebook Messenger Eyeing to Launch the Unsend Feature

After Instagram, social networking platform Facebook is prepping up to bring in the feature of ‘unsend’ on its messaging app Facebook Messenger. And thus, soon the feature may be nearing a release. Initially, Facebook announced that it would be adding the "unsend" feature for everyone in April after it came out that messages CEO Mark Zuckerberg had sent to other users were removed from the users' inboxes while older messages that those users sent Zuckerberg were still present. The feature of deleting messages on the messenger was available since long, however, deleting those messages would not delete the message from the recipient's inbox. Photo sharing app Instagram that is owned by Facebook already has the "unsend" feature that removes the message from both inboxes, even messages f...
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Energy Giant Total Acquires Stake in Adani Group
15Oct By Gauri SinghNo Comments
ACQUISITION

Energy Giant Total Acquires Stake in Adani Group

France-based energy giant Total is eyeing to acquire half of the stake of Adani Group in LNG projects in Gujarat and Odisha. Along with this, the company will also purchase stake in an under-construction LPG import facility and in its city gas projects. Total seems to be showing interest on investing in fast growing gas market in India and finds Adani as a suitable vehicle since it owns crucial downstream infrastructure. The company is in talks to acquire 50 percent stake in the under-construction LPG import terminal that Adani is building at Mundra in Gujarat as well as a stake in Adani’s flourishing city gas distribution projects. India is looking forward to increasing the share of natural gas in its energy basket to 15 percent in the next few years. Along with this, the country...
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