Sheldan Rungasamy | Pixr8 News

McAfee to Provide Security Solutions for Mobile Wallet

22May By Sheldan RungasamyNo Comments

News

McAfee to Provide Security Solutions for Mobile Wallet

McAfee, the leading cyber-security company, is now focusing on developing security solutions for digital wallets to overcome frauds and scams, an aim driven by the increasing use of mobile wallet payment platforms. A quarter of McAfee’s global workforce hail from its Bengaluru office and has now made it a priority to find solutions to frauds and scams that can be achieved from digital wallets. For example, A report from ET published a few weeks ago stated that cases whereby fraudsters were buying merchandise by sending merchants fake mobile wallet payment confirmation messages were on the rise. India has a large number of wallets when compared to other countries. While these wallets are expanding to the newer regions of the country, the number of scams is also increasing by the day, ...

22May By Sheldan RungasamyNo Comments

FUNDING

Bangalore-Based Video Creation Platform Raises Funding from Blume Ventures

Rocketium.com Technologies Pvt. Ltd, the video creation platform recently raised Rs 2 Crore ($ 300K) as seed funding round from Blume Ventures, the early stage-focused venture capital firm and several angel investors. The additional investors include Raghunandan G., co-founder and former CEO of TaxiForSure, now acquired by Ola; Hari TN, who heads the human resource of online grocery store BigBasket; senior executives from Apple, Freshworks, Microsoft and SpaceX notably also participated in this funding round, the video creation platform mentioned in a statement. Satej Sirur and Anurag Dwivedi, who were both former employees at TaxiForSure, founded Rocketium. The funds raised will serve the purpose of expanding the company’s global reach by hiring sales and marketing executives and bu...

Adobe Acquires Open-Source E-commerce Magento

22May By Sheldan RungasamyNo Comments

ACQUISITION

Adobe Acquires Open-Source E-commerce Magento

Adobe announced yesterday that it has made the acquisition of Magento for the amount of $1.68 billion. The purchase of the company has been done to enable Adobe to set up an e-commerce platform that caters to B2B and B2C and will be an appropriate addition to the company’s Experience Cloud. It will also bolster Adobe’s resources as its competing with Salesforce, which is offering an integrated marketing, sales and service offerings in the cloud and acquired Demandware in 2016 for $2 billion to cater a similar set of functionality. Brent Leary, owner of CRM Essentials is keeping an attentive eye on the relationship between CRM and marketing, stating this acquisition will fill a big gap in Adobe’s Experience Cloud. “Now they have an offering that allows them to close the loop with c...

Investors Willing to Sell Their Facebook Shares After Data Scandal

21May By Sheldan RungasamyNo Comments

News

Investors Willing to Sell Their Facebook Shares After Data Scandal

Many image conscious investment firms are selling or rethinking their Facebook Inc. shares as they grow discontent with the firm’s way of strengthening personal data protection and online safety after several scandals surfaced about the improper management of user’s information by Facebook. Backing out from the world’s largest social media network is surely the strongest response from investors to apprehensions about Facebook’s treatment of user data. Cambridge Analytica, the now shut down political data firm whose service was used by Donald Trump during the 2016 US election for ad targeting, were found guilty of harvesting data for 87 million Facebook users and is currently under probe in United States and Europe. Facebook shares also fell in the first quarter of the year when me...

Amazon India’s Valuation Reaches Staggering Figures

21May By Sheldan RungasamyNo Comments

News

Amazon India’s Valuation Reaches Staggering Figures

The Indian e-commerce market has become a real battlefield, whereby global mammoth such as Amazon, Walmart and even Alibaba are competing fiercely to kick each other out of the landscape. The companies’ market strategy is mostly driven towards customer acquisition and retention, to own the most available market share. Flipkart, the e-commerce giant founded by Indian entrepreneur was recently acquired by Walmart for 16 billion dollars two weeks ago for 77% stakes, making it boast a valuation of $20 billion. However, a report from Citi Research suggest that Amazon India can also be valued at the now significant milestone of $16 billion as well. Indeed, Citi Research published a report last week in which it stated that Amazon India could possibly attain $70 Bn in Gross Merchandise Volum...

21May By Sheldan RungasamyNo Comments

FUNDING

Non-profit, Crowdfunding Heathcare Platform Raises $2 Mn Funding

ImpactGuru, India’s most prominent healthcare, nonprofit and crowdfunding platform, recently raised a $2 million in a Series A funding round co-led by Apollo Hospitals Group and Venture Catalysts. Existing investor, RB investments, a VC fund based in Singapore, also participated in the funding round along with India’s largest health-tech fund, Currae Healthtech Fund. The investment round also saw the participation of several family offices from US, Southeast Asia and Middle East. "Donation crowdfunding is a proven business model in US, UK, and China with platforms seeing exponential growth year on year. With this round of funding, ImpactGuru.com is well positioned to become the market leader in India," said investor, Harsh Bothra from RB Investments. The funds raised will serve to sc...

21May By Sheldan RungasamyNo Comments

FUNDING

Organic Juice and Beverage Maker Raises Funding from Sequoia Capital

Raw Pressery, the organic cold-pressed juice and beverage maker, has completed a funding round of $10 Mn (Rs 65 crore) from existing investors Sequoia Capital, Saama Capital and DSG Consumer products. The funds raised will serve in expanding the company’s footprint across international markets. The beverage firm is also holding talks with its family office and institutional investors to raise an additional $5 million that will be added to the sum raised in this funding round. The deal will close in coming two months. This latest funding round brings the firm’s total funds from investors to about $22.8 Mn (Rs 155 crore) not inclusive of the $5 million that is still pending. The latest funding round happened in late 2017 when Raw Pressery raised $6 million in a Series C funding from ex...

20May By Sheldan RungasamyNo Comments

FUNDING

Startups Who Got Funded Last Week

This week featured 9 funding articles amounting to $61.7 million (Rs 410 crores) (excluding two companies as their funding sum was undisclosed). FreightBazaar FreightBazaar, India’s first online portal for truck hiring intended for businesses, recently raised a pre-Series A funding round with Omphalos Ventures India leading the funds of an undisclosed amount. The funds raised will serve the purpose of scaling up operations and expanding its business to several new cities, while also improving its technology to facilitate processes and procedures. Clarity Communications Clarity Communication, a startup focused in PR and celebrity endorsement raised an undisclosed amount of funding from Atraxn Partners. The funds will serve to f...

Tata Steel Acquires Debt-Laden Bhushan Steel for Rs 35,200 Cr

20May By Sheldan RungasamyNo Comments

ACQUISITION

Tata Steel Acquires Debt-Laden Bhushan Steel for Rs 35,200 Cr

Bamnipal Steel Ltd (BNPL), daughter company of Tata Steel, recently made the acquisition of 72.65% of controlling stakes in Bhushan Steel Ltd (BSL) for Rs 35,200 Cr. Tata Steel Ltd made the highest bid to acquire the indebted Bhushan Steel Ltd in an insolvency action. The firm filed for bankruptcy was among the 12 stressed assets that were referred by the RBI for NCLT proceedings next year. "BNPL has successfully completed the acquisition of controlling stake of 72.65 per cent in BSL in accordance with the approved resolution plan under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC) which has been managed by Vijaykumar V lyer, Partner, Deloitte Touche Tohmatsu India LLP, in his capacity as the resolution professional," Tata Steel a...

The Real Story behind WOW Airlines $200 Ticket to USA

19May By Sheldan RungasamyNo Comments

BUSINESS

The Real Story behind WOW Airlines $200 Ticket to USA

WOW airlines, an Iceland based low-cost airline company is set to make its entrance in India with the cheapest American airline fares ever. The one-way trip will connect passengers from New Delhi to 15 North American cities and include a stopover in Reykjavik (Iceland) for only Rs 13,499. WOW airlines were founded by entrepreneur Skuli Mogensen, who is a business mogul with background hailing from sectors such as technology and telecoms in Iceland, Europe, and North America. He owns the airline company all by himself and sits on the board of several tech companies in North America and Europe. Skuli was awarded Business Man of the Year in his country twice, notably in 2011 and 2016. The airline company was founded in November 2011 and its inaugural flight took ...

19May By Sheldan RungasamyNo Comments

FUNDING

Truck Hiring Tech Platform Raises Funding

FreightBazaar, India’s first online portal for truck hiring intended for businesses, recently raised a pre-Series A funding round with Omphalos Ventures India leading the funds of an undisclosed amount. Ah! Ventures, a startup that aims at bridging communication between investors and businesses, was essential in sealing the deal. FreightBazaar revealed that the funds raised will serve the purpose of scaling up operations and expanding its business to several new cities, while also improving its technology to facilitate processes and procedures. “For the past few years, we have been working to bring structure, technology, efficiency and reliability into the way long-haul transportation has been managed in India,” said co-founder and CEO, FreightBazaar, Ganesh Rewanwar. The startup ...

Azim Premji Makes $130 Million in Flipkart Deal

18May By Sheldan RungasamyNo Comments

BUSINESS

Azim Premji Makes $130 Million in Flipkart Deal

The Walmart-Flipkart $16 billion acquisition must be the biggest fortune that could ever fall on investors in India’s largest e-commerce platform as they are set to receive their biggest payday. However, the e-commerce platform boasted international investors exclusively and therefore, Indians that will benefit from the $16 billion deal are only Flipkart founders and employees. However, one Indian investor will get around 420% returns on an investment he made 4 years ago in fashion e-commerce platform, Myntra, that was subsequently acquired by Flipkart. Indeed, the chairman of Wipro Limited and third richest man in India, Azim Premji is going to receive $130 million from his $25 million investment in Myntra thanks to the acquisition of Flipkart by Walmart, according to two people bri...