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Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

14Dec By PriyankaNo Comments

ACQUISITION

Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

SEOUL, South Korea, Dec. 14, 2020-- Hyundai Motor Group will acquire 80% stake in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. Financial terms were not disclosed. Hyundai Motor Group will hold an approximately 80% stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction. The acquisition will mark another major step for Hyundai Motor Group toward its strategic transformation into a Smart Mobility Solution Provider including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots. Boston Dynamics produces highly capable mobile robots with ...

Fylamynt Raises $6.5 Million from Google

4Dec By AdityaNo Comments

FUNDING

Fylamynt Raises $6.5 Million from Google

MOUNTAIN VIEW, Calif., Dec. 4, 2020-- Fylamynt, a cloud automation platform raises $6.5 million in seed funding. Fylamynt allows cloud engineering teams to build, run and analyze automation workflows securely for any cloud with little to no code. The seed round is led by Gradient Ventures, Google's AI-focused fund, with additional investment from Mango Capital and Point72 Ventures. The cost of operations is still very high in Fortune 1000 enterprises with application downtime costing an estimated $1.25 to $2.5 billion per year and the average cost per hour for critical application failures is $500,000 to $1 million. Cofounders Dr. Pradeep Padala, Dr. Xiaoyun Zhu and David Le...

AI-powered Home Maintenance Platform Dobby Secures $1.7 Million in Seed Round

3Dec By AdityaNo Comments

FUNDING

AI-powered Home Maintenance Platform Dobby Secures $1.7 Million in Seed Round

WASHINGTON, Dec. 3, 2020-- Dobby, an AI-powered home maintenance platform raises $1.7 million in the seed round of funding. The capital will use to strengthen the company's growth initiatives, and spotlight its proprietary, automated, AI-first experience to homeowners, service providers, and ancillary beneficiaries such as real estate agents. This equity finance raise comes as Dobby scales to meet strong demand in the home maintenance sector, which, according to a Bank of America spending report, is seeing home maintenance consumer spending 60% above the Jan-2020 level. "During my days at DataRobot, I saw an opportunity to build an AI-first company from the ground up in a large and unsexy industry," said Satadru Sangupta, Dobby's CEO and co-founder. "I chose home maintenance beca...

MindTickle raises $100 mn by Softbank Vision Fund 2

16Nov By PriyankaNo Comments

FUNDING

MindTickle raises $100 mn by Softbank Vision Fund 2

Sales readiness platform MindTickle raises $100 million (approximately Rs 745 crore) in a combination of equity and debt financing led by Softbank Vision Fund 2. The existing investors, Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures, also participated in the round. MindTickle provides data-driven solutions for sales readiness and enablement that fuels revenue growth and brand value for hundreds of companies across the world. MindTickle has offices in Pune, San Francisco, and London. The company will use this new round of funding to accelerate platform activities and expansion of global operations. "As customers become increasingly demanding and remote work becomes more common, organizations realize the need to reskill and upskill their employees on an...

11Nov By AdityaNo Comments

FUNDING

Roots Automation Raises $3.2M Seed Funding Round

NEW YORK, Nov. 11, 2020-- Roots Automation, the NYC-based Digital Coworkers as a Service company, has raised a $3.2M seed round led by Vestigo Ventures. Launched by Chaz Perera and John Cottongim, Roots Automation aims to empower companies to free their 'roots' their people to focus on meaningful and impactful work. "Vestigo Ventures has been incredible throughout our seed funding journey and we're extremely thankful for their support," said Co-Founder and CEO, Chaz Perera. "The partnership between Vestigo Ventures and Roots Automation is the ideal combination of enterprise technology and startup expertise together, we'll continue to fuel growth opportunities instead of mundane tasks for our customers." Vestigo Ventures is an early-stage startup venture capital fund specifically for ...

How to Gain Back Control of Your Software

1Nov By AdityaNo Comments

Tech

How to Gain Back Control of Your Software

When operating a business, it’s not uncommon to have multiple sets of different software and programs to perform a large variety of functions and tasks. This software is great as it can provide you with the tools to work more productively and effectively and even automate tasks. However, with the large amount of software available to a business, it can be easy to lose control of it all. Businesses may struggle to keep all their software updated, find it hard to manage their subscriptions, or simply forget on what software key information is stored on. The larger the business, the more hectic things can become, and when it gets tough, here are a few things to do to help you gain control of your software and manage it better. Cloud Governance Cloud computing allows ...

Amazon Opens Cashier less Grocery Store in Seattle

26Feb By AnkitaNo Comments

News

Amazon Opens Cashier less Grocery Store in Seattle

Amazon, an online eCommerce platform is opening its first cashier-less supermarket, the latest sign that Amazon is serious about shaking up the $800 billion grocery industry. Amazon on Tuesday opens up its new store in Seattle, where shoppers can grab milk or eggs and walk out without checking out or opening their wallets. Shoppers scan a smartphone app to enter the store. Cameras and sensors track what's taken off shelves. Items are charged to an Amazon account after leaving. Called Amazon Go Grocery, the new store is an expansion of its 2-year-old chain of Amazon Go convenience stores. At 10,400 square feet, the supermarket is more than five times the size of the smaller stores, and stocks more items beyond the sodas and sandwiches found at Amazon Go. The new market stocks fresh...

22Nov By PriyankaNo Comments

FUNDING

Robotics Platform Automation Anywhere Raises USD 290 Mn Funding

Automation Anywhere, a provider of robotic process automation raises USD 290 million (Rs 2,080 crore) in funding, led by Salesforce Ventures. The series B round, which puts a post-money valuation of USD 6.8 billion on the company, also saw participation from existing investors including Softbank Investment Advisers and Goldman Sachs, a statement said. "The new capital will help Automation Anywhere accelerate its vision to empower customers to automate end-to-end business processes, bridging the gap between the front and back offices with an artificial intelligence-powered intelligent automation platform," it added. In addition, the funding will advance the company's focus on improving human-to-bot collaboration through attended automation, it said. Last year, Automation Anywher...

5Nov By NitishNo Comments

ACQUISITION

Automation Anywhere acquihire Cathyos Labs

The SoftBank-backed robotic process automation (RPA) player, Automation Anywhere acquihire of product engineering start-up Cathyos Labs to support the company's expansion and product innovation. Cathyos Labs specialises in product development, automation, RPA and predictive analytics, Automation Anywhere said in a statement. Through the acqui-hire, Automation Anywhere will strengthen its engineering team to increase product development, support and delivery for customers in India and across the region, it said. Cathyos Labs is the first talent led acquisition by Automation Anywhere.Cathyos Labs engineers, including the co-founders, will join Automation Anywhere's product engineering team to provide development support for the web-based RPA platform, Enterprise A2019, it was stated...

Automation Platform Jaunt XR Acquired by Verizon

2Oct By AdityaNo Comments

ACQUISITION

Automation Platform Jaunt XR Acquired by Verizon

Jaunt XR announced the acquisition of its software, technology, and certain other assets by Verizon Communications Inc for an undisclosed amount. Jaunt has raised over $100 million in venture funding from Disney, Google's venture arm GV, Evolution Media Partners, CMC, Highland Capital Partners, and RedPoint Ventures. Jaunt XR is a leader in the immersive industry with a focus on the scalable creation and distribution of volumetric video of humans. “We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.” Jaunt will be assisting Verizon with the transition of select portions of the software and technology for a brief...

Al Ahli Bank of Kuwait Partners With EdgeVerve for robotic automation

29Jul By AnkitaNo Comments

MIDDLE EAST

Al Ahli Bank of Kuwait Partners With EdgeVerve for robotic automation

Al Ahli Bank of Kuwait has partnered with EdgeVerve Systems, a subsidiary of Infosys to steer its automation journey using AssistEdge Robotic Process Automation (RPA). The award-winning scalable automation platform, AssistEdge is an end-to-end service for building and implementing RPA. It provides integrated software robots to automate any high-touch, repetitive process. Used to modernize customer service, improve business processes and enhance operational productivity, it spans the entire gamut of automation. Somnath Menon, Group Chief Operating Officer Al Ahli Bank of Kuwait, said, "Robotic Process Automation is part of ABK's digitization strategy to transition to the next level of innovation and technology in banking. ABK has collaborated with EdgeVerve and successfully implement...

TCS Launch Business 4.0, Target $5 Billion Digital Revenue

23Apr By Lavina TolaniNo Comments

News

TCS Launch Business 4.0, Target $5 Billion Digital Revenue

Tata Consultancy Services Ltd, India's largest IT firm is betting big on 'Business 4.0' to propel its revenues from new age-technologies like automation, cloud, and the Internet of Things to over $5 billion this year. Rajesh Gopinathan, MD, and CEO at TCS reported, There are numerous components of digital technologies, there is cloud, automation, analytics, IoT. People have been looking to various technologies each of which has its own value and importance, the point, however, lies in the fact how one stitches them together helping in business growth. Business 4.0 is a thought based leadership framework that helps customers leverage digital technologies to direct their growth and transformation agendas, as told by CEO Rajesh Gopinathan. While asserting the fact that TCS is not a 'd...