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Amazon India Head Amit Agarwal Promoted as SVP

17Mar By PriyankaNo Comments

News

Amazon India Head Amit Agarwal Promoted as SVP

Amazon India head Amit Agarwal has been elevated to the post of Senior Vice President, Amazon. The company confirmed the development in an emailed statement. "This indicates how excited Amazon is about the progress the company is making in India and the opportunity Amazon sees ahead," it added. The promotion comes within a year of Agarwals inclusion in a senior leadership team that reports directly to Amazon CEO and President Jeff Bezos. Agarwal will continue to head the India operations. Amazon, which has committed investments to the tune of USD 5 billion, remains one of the fastest growing for the US-based e-tailer. The company faces intense competition in India from local player, Flipkart. The competition is further heating up as Chinese e-tailer Alibaba gears up for a stron...

Google Acquires Canadian Cloud Specialist Firm AppBridge

14Mar By PriyankaNo Comments

ACQUISITION

Google Acquires Canadian Cloud Specialist Firm AppBridge

Alphabet's Google has announced the acquisition of Canadian technology firm AppBridge that helps companies transfer data to the technology giant's Cloud platform. "We are acquiring Vancouver-based AppBridge that builds connectors to... connect up into Google Cloud," said Prabhakar Raghvan, vice president (apps) Google Cloud at the Cloud Next Conference here. Raghvan, however, did not disclose the details of the deal. The company had yesterday announced the acquisition of start-up firm Kaggle. Google also announced a slew of products and services for both enterprises and individuals including add-ons for Gmail, Hangouts Meet and Hangouts Chat. "Last year, we talked about doubling our enterprise focus for Hangouts and our commitment to building communication tools focused on the ...

Reliance Jio, Paytm Apologise For Using PM’s Photo in Print Ads

11Mar By PriyankaNo Comments

News

Reliance Jio, Paytm Apologise For Using PM’s Photo in Print Ads

Reliance Jio and Paytm have apologised for their "inadvertent mistake" in using Prime Minister Narendra Modi's photograph in their advertisements without permission, the government today informed Parliament. The Ministry of Consumer Affairs had sent notices to both the companies under the Emblems and Names (Prevention of Improper Use) Act of 1950, which bars use of Prime Minister's name and picture for commercial use. "Clarifications were sought by the Department of Consumer Affairs from Paytm and Reliance Jio wherein they have apologised for their inadvertent mistake," Minister of State for Consumer Affairs C R Chaudhary said in a written reply to the Rajya Sabha. The two companies used the photograph of the Prime Minister in their respective full page advertisements contraven...

Google Acquires Data Science Startup Kaggle in a Boost to Data Play

9Mar By PriyankaNo Comments

ACQUISITION

Google Acquires Data Science Startup Kaggle in a Boost to Data Play

Technology giant Google has announced the acquisition of Kaggle, a start-up that hosts a number of data scientists, for an undisclosed amount at the Cloud Next 2017 conference. "Kaggle is going to maintain independent brand for a while... what Kaggle has contributed to the community is democratisation of data, developer community... partnership with Kaggle is going to be very positive for us," said Chief Scientist Google Cloud (artificial intelligence and machine learning) Fei Fei Li here. Founded in 2010, Kaggle is home to the worlds largest community of data scientists and machine-learning enthusiasts.More than 8 lakh data experts use Kaggle to explore, analyse and understand the latest updates in machine learning and data analytics. "We are providing them best technology to tak...

LeEco Says Not Exiting India But Confirms 85% Layoffs

4Mar By PriyankaNo Comments

News

LeEco Says Not Exiting India But Confirms 85% Layoffs

Chinese handset maker LeEco today refuted reports of winding up its India operations but admitted that it has undertaken an "optimisation exercise" in the world's second largest smartphone market. "India is one of the most strategic markets for LeEco and hence no exit plan... (the company) has recalibrated and reimagined its business in India since last year and taken a number of steps to ensure that the scale of operations is in sync with resources," LeEco India said in a statement. Reports said the company has laid off 85 per cent of its staff in India and may shut its operations here. Top executives Atul Jain (COO smart electronics business) and Debashish Ghosh (COO Internet applications, services and content) have also reportedly quit. "As LeEco India transits to a more...

28Feb By PriyankaNo Comments

FUNDING

Hiring Platform Belong Raises $10 Million in a Series B Funding By Sequoia India

Predictive outbound hiring platform provider Belong today announced it has raised USD 10 million in a Series B funding (second strategic round) led by Sequoia Capital India. Existing investor Matrix Partners India also participated in the round and the company said it will use the funds to accelerate product development, expand sales and support operations, and hire new talent across engineering, data science, enterprise sales and customer success. Gautam Mago, Managing Director at Sequoia Capital India Advisors, has joined the Belong Board of Directors, which includes Tarun Davda, Managing Director at Matrix Partners India, and Raju Reddy, Founder and ex-CEO of Sierra Atlantic. Founded in 2014, Belong provides outbound hiring Software-as-a-Service (SaaS) solution to industry leaders...

Microsoft Launched Linkedin Mini Version For Semi Skilled Workers in India

23Feb By PriyankaNo Comments

News

Microsoft Launched Linkedin Mini Version For Semi Skilled Workers in India

Microsoft CEO Satya Nadella today made a strong case for using digital technologies to empower the common man and launched a slew of India-centric initiatives, including a platform to connect semi-skilled workers with employers. The technology giant also launched a 'lite' version of its video interaction platform Skype. "If digital technology is only the purview of the large businesses and the start-ups, I think that is not sufficient for an economy to make progress," the India-born Nadella said speaking at a company event here. We’ve built Skype Lite for India, it's lightweight and has #Aadhar integration built in.@satyanadella #FutureDecoded — Microsoft India (@MicrosoftIndia) February 22, 2017 "We can celebrate technology, but if it doesn't truly empower every Indian and eve...

How Much Profit ISRO Made on The Launch of World Record 104 Satellites?

16Feb By PriyankaNo Comments

INDIA

How Much Profit ISRO Made on The Launch of World Record 104 Satellites?

Yesterday, ISRO (India Space Research Organisation) has launched record 104 satellites beating Russia's record which was 37 satellites in one go. The record launch has established more credibility of ISRO in international space market. Apart from technology and its 100% successful foreign satellite launches, ISRO also challenging other international players on the pricing point. As per the data available, for a satellite launch SpaceX (company owned by Elon Musk) charge around USD 60 million, while ISRO charged an average of USD 3 million per satellite between 2013 and 2015. Last year in FY16, ISRO made 239 crore through commercial launch. The forex revenue for ISRO's commercial arm, Antrix Corporation, went up 204.9 percent in 2015. In 2016, ISRO launched 10 Indian satellites and 22...

BookMyShow Picks Up 75% Stake in Pune Based Townscript

14Feb By PriyankaNo Comments

ACQUISITION

BookMyShow Picks Up 75% Stake in Pune Based Townscript

Entertainment ticketing platform BookMyShow today said it has bought 75 per cent stake in Pune-based Townscript for an undisclosed amount. Founded in 2014 by Sachin Sharma and Sanchit Malik, Townscript is a DIY (do it yourself) event registration and ticketing platform that allows users to set up events like workshops, conferences and exhibitions. Its platform has already facilitated 12,000 such events across major cities as well as smaller cities like Ludhiana and Jaipur. "With this investment, we now have a majority stake in Townscript and we plan to help them take lead in this category while empowering small and medium event organisers over a marketplace model," Ashish Hemrajani, CEO and co-founder at BookMyShow, said. "We will use the investment primarily for improving the prod...

13Feb By PriyankaNo Comments

FUNDING

SigTuple Raises $5.8 Million in Series A funding From Sachin & Binny Bansal

SigTuple, a bangalore-based healthtech startup has raised USD 5.8 million in Series A funding led by Accel Partners Sachin Bansal, Binny Bansal and Amit Singhal & Others. The company provides a data driven, machine-learned, cloud-based solution to improve the accuracy and efficiency in disease diagnosis. To gain insights from data the company have a machine learning platform called Kurma. Founded by three IITians Rohit, Apurv and Tathagato, SigTuple plans to revolutionise global healthcare space through data driven intelligence. The startup also raised USD 740,000 in October 2015 from Sachin Bansal, Binny Bansal, Accel Partners, Ashok Bareja, Dr. Nirupa Bareja and Debanjan Mukherjee. “Our goal is to develop intelligent, scalable and affordable disease screening solutions which...

13Feb By PriyankaNo Comments

FUNDING

Bengaluru Based Flutura Raises $7.5 Million Series A Funding

Flutura Decision Sciences and Analytics (Flutura), the Industrial Internet-of-Things (IoT) company today announced a fund raise of $7.5 million (approx. 51 crore), one of the largest in the Industrial Intelligence space. This Series A round is led by Vertex Ventures and supported by Lumis Partners and existing investor, The Hive. Founded in 2012, Flutura provides mission critical insights to drive industrial outcomes, based on their capability to interpret machine signals from connected assets and connected processes. Applicability of the solutions ranges from powering new business models for machinery manufacturers to optimizing complex process and discrete manufacturing operations. Their flagship software platform, Cerebra, provides diagnostics and prognostics through machine le...

Poeir Jets- India’s First Ever Jet Engine Developed By a Private Firm

13Feb By PriyankaNo Comments

News

Poeir Jets- India’s First Ever Jet Engine Developed By a Private Firm

INTECH DMLS Pvt. Ltd. India’s largest Metal 3D printing provider and Metal Additive Manufacturing Establishment in aviation announced the launch of India’s first indigenously developed Jet Engine series. This is symbolic as it is India’s first ever Jet Engine that has been developed by a private establishment and augurs well for the industry in looking inwards for innovation in the high technology aviation sector. India is the first country in Asia and only the fourth country after the US, Europe and Israel to indigenously develop such an engine in the private space. Under the brand name Poeir Jets, promoted by M/s.Poeir Jets Private Limited an R&D subsidiary of INTECH DMLS has unveiled its first series of Jet Engines for Unmanned Aerial Vehicles (UAVs) & Remote Controlled (R...