FUNDING | Pixr8 News

Microsoft invests $1 billion in OpenAI, a platform cofounded by Elon Musk

23Jul By PriyankaNo Comments

FUNDING

Microsoft invests $1 billion in OpenAI, a platform cofounded by Elon Musk

SAN FRANCISCO and REDMOND, Wash., July 22, 2019 — Software major Microsoft led by Satya Nadella invested $1 billion in AI-based platform OpenAI. The two companies have partnered to further extend Microsoft Azure’s capabilities in large-scale AI systems. Through this partnership, the companies will accelerate breakthroughs in AI and power OpenAI’s efforts to create artificial general intelligence (AGI). The resulting enhancements to the Azure platform will also help developers build the next generation of AI applications. The partnership covers the following: Microsoft and OpenAI will jointly build new Azure AI supercomputing technologiesOpenAI will port its services to run on Microsoft Azure, which it will use to create new AI technologies and deliver on the promise of artificial gen...

TVS Motor Singapore Invest US$7 Million in AI Decision Platform

22Jul By PriyankaNo Comments

FUNDING

TVS Motor Singapore Invest US$7 Million in AI Decision Platform

SINGAPORE and NEW YORK, July 22, 2019-- TVS Motor Singapore, a wholly-owned subsidiary of TVS Motor Company Limited, India, has signed definitive agreements to invest $7 million in Scienaptic Systems Inc., a Delaware corporation, headquartered in New York City. TVS Motor (Singapore) Pte. Limited led this Series A funding in Scienaptic. Scienaptic has combined the latest big data technologies and proprietary machine learning and artificial intelligence algorithms on its decision platform, "Ether." Solutions built on Ether enable enterprises to improve risk and credit assessment, monitor evolving fraud patterns, and improve customer journeys and experience. Scienaptic counts several marquee Fortune 100 enterprises as its clients. Rajesh Narasimhan, Board Member of TVS Motor Company...

eBay invested $150 million in Paytm Mall, picks up 5.5% stake

19Jul By PriyankaNo Comments

FUNDING

eBay invested $150 million in Paytm Mall, picks up 5.5% stake

eBay Inc., a global commerce leader announced an agreement that will make eBay inventory accessible to tens of millions of Paytm Mall active customers in India. Additionally, eBay is making an investment of $150 million in Paytm Mall and will own approximately 5.5% of the company. “We are deeply committed to India and believe there are huge growth potential and significant opportunity in this dynamic market,” said Jooman Park, eBay Senior Vice President, APAC. “This new relationship will accelerate our cross-border trade efforts in a rapidly growing market, providing hundreds of millions of Paytm and Paytm Mall customers with access to eBay’s unparalleled selection of goods.” Paytm Mall makes international purchases frictionless for customers in the Paytm ecosystem. Through technolo...

18Jul By PriyankaNo Comments

FUNDING

MyMoneyMantra raises $14.8 million funding from IFSD BV, Vaalon Capital

Fintech startup MyMoneyMantra raises $14.8 million from Dutch investment company IFSD BV and Vaalon Capital. Both investment groups picked up a minority stake in the company. MMM serves over four 4 million customers from over 50 cities and has partnered with more than 90 financial institutions, a statement said. The company was responsible for originating about USD 1 billion of credit-related products in FY2019, it added. "This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture an even larger share of the rapidly expanding Indian consumer market," MMM founder and Managing Director Raj Khosla said. Founded in 1989 by Raj Khosla, MMM as a fintech firm distribute secured and unsecured loans, insurance...

17Jul By NitishNo Comments

FUNDING

RoadBotics Raises $7.5M in Series A Funding

PITTSBURGH, July 17, 2019- AI-based road assessment platform RoadBotics has raised $7.5 Million Series A investment round lead by AI-focused venture capital fund Radical Ventures. Other investors like Hyperplane Venture Capital and Wharton Alumni Angels of Silicon Valley also participated in this round. Roadbotics will use this round of funding to accelerate its growth and development of new products in order to further help local governments and other infrastructure asset managers to get important, objective data about their roads. Only two and a half years since founding, RoadBotics has over 150 customers in 23 US states and 11 countries. "This fresh capital, together with Radical's vast network and Artificial Intelligence domain expertise, wi...

Mahmee Raises $3M From Mark Cuban, Serena Williams

16Jul By PriyankaNo Comments

FUNDING

Mahmee Raises $3M From Mark Cuban, Serena Williams

LOS ANGELES, July 15, 2019- Mahmee, a data-driven maternal and infant health tech company building the missing digital infrastructure to connect the maternal health industry and prevent critical gaps in care, announced $3M investment from Mark Cuban, Serena Williams (through Serena Ventures), and others. The round is led by Arlan Hamilton's ArlanWasHere Investments, with support from Revolution's Rise of the Rest Seed Fund. They join previous investors Cross Culture Ventures, Acumen America, The Helm, Backstage Capital, Bumble Fund, Pipeline Angels, and others. Moms and babies are falling through the cracks of a fragmented health care industry. This is one of the reasons why the U.S has become one of the most dangerous places in the developed world to give birth, with 700 mothers dying ...

Samsung Venture invests in 4 Indian startups

15Jul By AdityaNo Comments

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Samsung Venture invests in 4 Indian startups

Samsung Venture Investment Corporation (SVIC), the investment arm of the South Korean tech giant in its maiden investment in India invested $8.5 million (approximately Rs 58.28 crore) in four Indian startups. SVIC, which has invested in a number of startups globally and has over $2.2 billion in assets under management, hopes to make 100 investments in Indian startups over the next three-five years. The startups chosen by SVIC include system apps company OSLabs that runs Indus operating system, speech technology startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an early-stage computer vision startup. Samsung closely works with a host of startups that are committed to building innovative and purposeful technologies across the globe, Aloknath De, Corporate Vice...

Rivigo raises $65 million from Warburg Pincus, SAIF Partners

12Jul By AdityaNo Comments

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Rivigo raises $65 million from Warburg Pincus, SAIF Partners

Logistics firm Rivigo has raised USD 65 million (about Rs 450 crore) in a Series E funding round led by existing investors Warburg Pincus and SAIF Partners. The company plans to utilise the funds to further strengthen its technology and network coverage, Rivigo said in a statement. "Rivigo raised a funding of USD 65 million in the ongoing series E round led by existing investors Warburg Pincus and SAIF Partners," the Gurugram-based company said. Rivigo founder and CEO Deepak Garg said, the relay trucking model is now very well established, where relay truck pilots lead a better life and customers get exceptional service. "With technology and freight marketplace, the company now wants to bring relay to every truck in the country," he said. Rivigo's technological prowess and u...

11Jul By AnkitaNo Comments

FUNDING

Supply Chain Startup O4S raises $2.1 mn in funding

Supply chain solutions start-up O4S has raised USD 2.1 million (about Rs 14.3 crore) in pre-series A funding, led by Venture Highway to expand its operations in India. The three-year-old start-up has raised a total of USD 2.5 million so far, including a seed investment of USD 400,000 in 2017. The new funding will be used to strengthen its workforce, accelerate client acquisition and build technology infrastructure across industries within India, it added. O4S focuses on industries like agriculture, fast-moving consumer goods, pharmaceuticals, and personal care products. Some of its clients include PepsiCo, ITC, Honeywell, DCM Shriram, and Campus Shoes, among others. The firm's core offering Supplytics helps brands connect directly with retailers and distributors by tracking pro...

Singapore Logistics Startup Ezyhaul raises $16 million

11Jul By PriyankaNo Comments

FUNDING

Singapore Logistics Startup Ezyhaul raises $16 million

Singapore-headquartered logistics-tech startup Ezyhaul said it has raised USD 16 million in funding that it will use to expand to new markets in South Asia and drive further technological innovation. The company, which has presence in India and Thailand as well, did not disclose the names of the investors who participated in the series B round. "In the past 12 months, Ezyhaul has grown more than 900 per cent after successfully completing its USD 5 million series A fundraisein 2018. Ezyhaul has since taken the time to reinforce its presence in South Asia, included expanding its operations in India and Thailand, and with also integrating a cross border solution that currently stretches from China to Singapore," a company statement said. Founded in Singapore in April 2016, Ezyhaul fo...

TATA Motors Ex-President invests in Escooter Startup BattRE

9Jul By PriyankaNo Comments

FUNDING

TATA Motors Ex-President invests in Escooter Startup BattRE

New Delhi, July 2019: Ex-Tata Motors’ President Gajendra Chandel invests in BattRE, an electric scooter startup based in Jaipur. The funds will be utilized for the launch of new models, increasing production capacity and scaling up the distribution and service network. BattRE Electric Mobility has introduced affordable E-scooters and packaged a whole gamut of innovative features & services to truly enhance the customer experience as they step into the green technology revolution. Nishchal Chaudhary, Founder of BattRE Electric Mobility, “We are absolutely delighted and honoured to have Mr. Gajendra Chandel onboard our company, BattRE Electric Mobility.His in-depth knowledge and vast experience in the automotive sector will provide us with the necessary impetus and guidance. Unde...

8Jul By Ankita SinghNo Comments

FUNDING

Board Infinity raises $320k funding from Angel Investors

New Delhi, 8th July 2019: Board Infinity, an Ed-Tech Startup raises $320k (Rs 2.2 crores) in an angel funding from a group of angel investors. Founded in 2017 by Abhay Gupta and Sumesh Nair, Board Infinity provides short skilling courses delivered by industry experts in live classes format across emerging technologies, management roles. The startup will use the funds to improving the technology platform and expand its current learner base in Tier 2-3 cities. Angel investors who invested in Board Infinity includes Mr. Ambarish Raghuvanshi Ex-CFO of Infoedge; Maheshwer Peri - Founder of Careers360; Vishal Soni & Ritu Soni - Founders of a Health & Wellness startup; Manish Gupta, Founder of UINCEPT- EdTech accelerator; Nirmal Singh, MD of Atraxn Ventures and founder of Wheebox ; S...