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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...

11Feb By PriyankaNo Comments

ACQUISITION

Auto Major Peugeot Acquired The Iconic Brand “Ambassador” For Rs 80 Crore

The iconic brand Ambassador, which used to be a symbol of the high and mighty in power corridors, has changed hands, with Hindustan Motors selling it to European auto major Peugeot for Rs 80 crore. The C K Birla group firm has inked an agreement with Peugeot SA to this effect. As things stand, the manufacturing of Ambassador car has been discontinued. "Hindustan Motors has executed an agreement with Peugeot SA for the sale of the Ambassador brand, including the trademarks, for a consideration of Rs 80 crore," Hindustan Motors today said in a regulatory filing. Last month, the PSA Group had inked a partnership with the CK Birla group to re-enter the Indian market and earmarked an initial investment of 100 million euros (around Rs 700 crore) to set up vehicle and powertrain manufacturing...

Indian PM Modi Led Cabinet Approved 2351 Crore For Digital Saksharta Abhiyan

10Feb By PriyankaNo Comments

INDIA, News

Indian PM Modi Led Cabinet Approved 2351 Crore For Digital Saksharta Abhiyan

The Cabinet today approved 'Pradhan Mantri Gramin Digital Saksharta Abhiyan' with an outlay of Rs 2,351.38 crore to make 6 crore rural households digitally literate by March 2019. "The Union Cabinet chaired by Prime Minister Narendra Modi has approved 'Pradhan Mantri Gramin Digital Saksharta Abhiyan' (PMGDISHA) to make 6 crore rural households digitally literate. The outlay for this project is Rs 2,351.38 crore to usher in digital literacy in rural India by March 2019," an official statement said. This is in line with the announcement made by the Finance Minister in the Union Budget 2017, it added. "PMGDISHA is expected to be one of the largest digital literacy programmes in the world," the statement said. Under the scheme, 25 lakh candidates will be trained in the fiscal year ...

7Feb By PriyankaNo Comments

FUNDING

Online Travel Portal TravelTriangle Raises $10 Million Funding

Online travel firm TravelTriangle has raised USD 10 million (over Rs 67 crore) in series B funding led by Singapore-based VC firm RB Investments. The company's existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners also participated in the funding round, TravelTriangle said in a statement. Commenting on the development, TravelTriangle Co-Founder and CEO Sankalp Agarwal said: "We have grown faster than OTAs in the leisure segment and now fast approaching their scale. With the association with RB Investments in this round we will achieve our vision faster". The current round of fund infusion will be utilised for providing better value to customers and ramping up team, the company said. "We see TravelTriangle marketplace as the key beneficiar...

4,000 Karnataka Startups Received Investment of $1 Billion in 2 Years

6Feb By PriyankaNo Comments

FUNDING

4,000 Karnataka Startups Received Investment of $1 Billion in 2 Years

Karnataka continues to lead the country in the Information Technology and Bio Technology sectors, and over 4000 start-ups have received investments of USD 1 billion over the past two years, Karnataka Governor Vajubhai Vala today said. In his customary address to the joint sitting of the state legislature reflecting government's policies and priorities, he said public transport and scientific traffic management are essential to address the traffic problems faced by this IT city. "Karnataka continues to lead the country in the Information Technology and Bio Technology sectors, which are growing at a rate of 10 per cent to 12 per cent a year and creating new avenues for employment," Vala said. He said "With the launching of a new start-up policy the state has retained its lead as one...

4Feb By PriyankaNo Comments

ACQUISITION

YASH Technologies Announces Acquisition of the Data Sciences and Analytics Arm of a Hyderabad Based IT Services Company

YASH Technologies, a leading technology services and outsourcing partner for global companies, today announced the acquisition of the Data Sciences and Analytics Arm of a Hyderabad based IT Services Company. This acquisition, while bolstering YASH’s IP footprint would add to the rich talent of Data scientists in the organization. “The acquisition strengthens YASH’s position in providing cutting edge advanced analytics, artificial intelligence, machine learning, augmented reality and Blockchain solutions and services,” said Bala Navuluri, COO, YASH Technologies. He added, “It will enable us to harness these capabilities and platforms to support our customer’s digital transformation journey.” YASH would develop and enhance the Business Process modeling framework, Transformation Platfor...

Samsung to Launch Mobile Payments Service For Its Android Users

2Feb By PriyankaNo Comments

News

Samsung to Launch Mobile Payments Service For Its Android Users

Tech giant Samsung Electronics Co Ltd said on Thursday it will launch a mobile web payments service for all smartphones powered by Google Inc's Android mobile operating system in South Korea in the first quarter. The service, called Samsung Pay Mini, will allow Android smartphones to make online transactions in Samsung's home country after downloading a dedicated app. The company did not comment on whether the service will be offered in other markets. The announcement comes as Samsung seeks to boost its services offerings in a search for new growth. In October-December, the South Korean firm fell behind archrival Apple Inc in the global smartphone market for the first time since the fourth quarter of 2015, hurt by the demise of the fire-prone Galaxy Note 7 smartphones. The new ...

Ex-Xiaomi India Head Hugo Barra Appoint as a Facebook Virtual Reality Head

27Jan By PriyankaNo Comments

News

Ex-Xiaomi India Head Hugo Barra Appoint as a Facebook Virtual Reality Head

Social media giant Facebook has announced it had recruited Hugo Barra, who recently quit a top position with Chinese smartphone maker Xiaomi, as its new head of virtual reality. "I'm excited that Hugo Barra is joining Facebook to lead all of our virtual reality efforts, including our Oculus team," CEO Mark Zuckerberg announced on his personal Facebook page yesterday. "Hugo shares my belief that virtual and augmented reality will be the next major computing platform. They'll enable us to experience completely new things and be more creative than ever before," Zuckerberg wrote. "Hugo is going to help build that future, and I'm looking forward to having him on our team." Barra caused a sensation in 2013 by leaving Google to become a vice president at Xiaomi. The firm, created in 2010...

26Jan By PriyankaNo Comments

FUNDING

Online School Aggregator Platform SchoolForSure.com Raises Funding Led by Foodpanda Co-founder Rohit Chadda

New Delhi based online school admissions platform SchoolForSure.com has announced raising an undisclosed amount in angel funding from private investors amongst which is Rohit Chadda, co-founder Foodpanda & founder, PayLo, it said in a statement. SchoolForSure.com which operates a single platform for filling master application form for all schools enables parents to apply to multiple schools in a single click without having to visit each school. The young startup will use the proceeds to expand its team and increase its reach to more geographies. The platform was launched late last year and is presently operational in Delhi and allows nursery admissions to over 100 schools, the firm said in a statement. Rishi Shukla, co-founder & CEO of SchoolForSure.com said, “We are trying ...

Microsoft Head Satya Nadella Will Join Board of Starbucks

25Jan By PriyankaNo Comments

News

Microsoft Head Satya Nadella Will Join Board of Starbucks

Microsoft's India-born CEO Satya Nadella has been nominated to join the Board of Starbucks for his "invaluable insight" in international operations and distribution as the global coffee giant focusses on global growth and innovation. Nadella, 49, has been nominated by Starbucks along with President and Chief Executive Officer of warehouse chain Sam's Club Rosalind Brewer and Executive Chairman of the LEGO Brand Group Jorgen Vig Knudstorp to its Board of Directors. Their election, which will bring the Board strength to 14, requires approval of the company shareholders, who will meet in March, Starbucks said in a statement. Starbucks nominated the three as it seeks to bring diversity to the Board while pursuing its long-term plan for strong global growth and innovation. The compa...

17Jan By PriyankaNo Comments

Story

A 360 Degree View Of Numero Uno’s Delhi Head office

Nestled in the serene environment of Gwal Pahari, Gurgaon, the headquarters of the renowned clothing brand Numero Uno is a classic example of reflecting the business operations of a company into its work space and culture. Oozing an intense look, the office sports an Industrial appearance with raw ceiling and exposed wiring and ducts. The raw masculinity of the office is complimented by colours including Blue, Green, White and Grey being used extensively. Fetching the inspiration to go green as well as set up a productive environment, the company fused the open spaces, work stations and planters for a healthy creative environment. The office’s cafeteria “cafe Uno” is a self service break out area with a Table Tennis table. The overall openness and ability to interact freely w...

Housing.com Shuts Down, Announced Merger With PropTiger

10Jan By PriyankaNo Comments

ACQUISITION

Housing.com Shuts Down, Announced Merger With PropTiger

In a major consolidation in the online realty space, PropTiger.com and Housing.com today announced a merger to create Indias largest online real estate services company and the joint entity will raise USD 55 million of fresh investment. News Corp-backed PropTiger.com and SoftBank-backed Housing.com announced "they will come together to become India's largest online real estate services company." As part of the transaction, REA Group Ltd will invest USD 50 million in the joint entity with an affiliate of SoftBank Group Corp, investing USD 5 million. News Corp remains the largest shareholder of PropTiger, and also owns 61.6% of REA Group. Representatives of REA and SoftBank will join the board of the joint entity, which will continue to be chaired by a News Corp representative. Dhru...