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AI startup Databricks Raises $1 billion from Microsoft, Google & Amazon

2Feb By AdityaNo Comments

FUNDING

AI startup Databricks Raises $1 billion from Microsoft, Google & Amazon

San Francisco, Feb 2, 2021: AI startup Databricks raises $1 billion in funding in Series G round from Microsoft, Google and Amazon Web Services. Using this round of funding the startup value soar at a $28 billion valuation. Databricks is an analytics-based cloud computing platform that has 5,000 customers, including 40 percent of Fortune 500 companies. "We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI (business intelligence) to AI," said Ali Ghodsi, Databricks chief executive and co-founder. "Databricks helps organizations eliminate the cost and complexity that is inherent in legacy data architectures so that data teams can collaborate and...

Uber’s Technology Will Reduce Traffic Congestion In Indian Metro Cities

13Apr By Sheldan RungasamyNo Comments

News

Uber’s Technology Will Reduce Traffic Congestion In Indian Metro Cities

Uber, the US based cab hailing company, is taking the responsibility of helping civic authorities, traffic police, researches, think tanks and policymakers find ways of reducing traffic and congestion by applying big data and analytics to find patterns commuting habits and propose innovative plans meant to improve road infrastructure and traffic management decisions. Therefore, the cab aggregator Uber launched the second phase of ‘Movement’, a free tool destined to collect data from millions of trips and eventually assist urban planners in achieving sustainable development in road infrastructure and implement policies that would substantially improve commuting facilities in metro cities. Uber is taking a formal stand against traffic congestion with this initiative and shows its commi...

24Mar By Sheldan RungasamyNo Comments

FUNDING

Infosys Invested $1.5M in a Data Discovery Firm

Infosys, an IT services major, said it made a second investment of $1.5 million in Waterline Data Science, which is a data discovery and data governance software provider company. The Bengaluru-based company first poured $4 million in the US-based firm to obtain stakes in return back in January 2016. After the recent investment, Infosys now holds a minority stake not exceeding 20% of the incredible share capital of the company, according to the company filing to the stock exchange. The investment will be fully completed by April 6, 2018. Waterline is a firm that provides data scientists and business analysts with a self-service data catalogue to help discover, understand and provision data. Founded in December 2013, the company also gives an automated data inventory that allows ea...

Agri Startup Gobasco Raises Funds From Matrix Partners

2Nov By PriyankaNo Comments

FUNDING

Agri Startup Gobasco Raises Funds From Matrix Partners

Agriculture supply chain tech startup Gobasco has raised an undisclosed amount of funding from Matrix Partners India. Co-founded by Vedant and Abhishek in early 2017, the startup aims to solve complex supply chain optimisation problems, by combining large scale data integration with proprietary technologies. The details about the funding round were not disclosed but Gobasco will be using the funds for scaling up and building a full stack commerce platform that yields higher operational efficiency. "The goal is to use artificial intelligence and big data to optimise the agri-supply-chain across India," said Abhishek Sharma, cofounder of Gobasco. The startup is based in Lucknow and NCR and has till now served 5,000 farmers till date. Also Read Bitcoin Shoots off the Roof, ...

Does Twitter Really Reflect The World’s Emotion?

8Sep By Press Trust of IndiaNo Comments

ANALYSIS

Does Twitter Really Reflect The World’s Emotion?

Twitter is an unreliable witness to the world's emotions, and assuming that the micro-blogging site accurately reflects real life may be risky, scientists say. With over 300 million monthly active users around the globe sharing their thoughts in 140 characters or less, studies based on Twitter data are "particularly alluring" to researchers and the media, said sociology expert Eric Jensen, from the University of Warwick in the UK. However, he cautions against this "big data gold rush," pointing out that there is no evidence that social media content shared on Twitter is a truthful reflection of how its users feel. Twitter users have developed their own unique cultural behaviour, conversations and identities, which shape the ways in which they present their views online. Social ...

TalentEdge Defines Key Trends in Edtech Sector

5Jul By RishabhNo Comments

BLOGS, Story

TalentEdge Defines Key Trends in Edtech Sector

With the increased penetration of technology into our daily lives and smartphones taking over the world, India’s online education industry is expected to grow almost eight times to hit $1.96 billion by 2021, with the number of paid users rising six-fold from 1.6 million now to 9.6 million, as per a report by Google and consultancy firm KPMG. Traditional education systems, hence are losing their importance as both students and educators embrace what a basic edtech startup offers – convenience, personalization, and agility. “It is also interesting to note that high growth in education search queries is now coming in from Tier II and Tier III cities such as Patna, Guwahati, Aligarh and Kota, which points to the opportunities that growing penetration of smartphones and improving quality of...

19Aug By NitishNo Comments

FUNDING

Cuberoot Technologies Raises Nearly $0.5 Million in Funding

Cuberoot Technologies, a preeminent data driven technology company, recently raised nearly USD 0.5 million from undisclosed investors. The funds will assist the organization to expand its business across the country and shall further be utilized in scaling up growth parameters such as expansion of technology team, enhancing product technology, investing in better infrastructure and strategic acquisitions. Cuberoot is geared to launch its flagship product; an Audience Management Platform also known as Cuberoot in the Indian market in the coming months, expanding to other cities in the upcoming months. Also,the company will be incorporating bases in Asia - Pacific market over the next 12-18 months. Such installations of sufficient funds will play a major role in the growth of the or...