Monday, May 27

Tag: Machine learning

TagBox raises $3.85 mn from TVS Motor
FUNDING

TagBox raises $3.85 mn from TVS Motor

TVS Motor Company has invested USD 3.85 million (about Rs 26.69 crore) in TagBox, a machine learning platform company as part of its Series A funding round. This round was entirely led by TVS Motor Company and its Singapore based subsidiary TVS Motor (Singapore) Pte Limited, the company said in a statement on Wednesday. The current investment in Tagbox is part of the initial set of investments, being made in strategically relevant digital startups, it said. TagBox plans to use the funds to strengthen product innovation and R&D, while expanding its global footprint, it added. Launched in 2016, Tagbox Solution provides a coldchain solution, food spoilage, product damage, real-time signal for theft and pilferage. TagBox was started with the vision of enabling organization...
Apple’s John Giannandrea Elevated as the Senior Vice President of ML & AI
News

Apple’s John Giannandrea Elevated as the Senior Vice President of ML & AI

iPhone maker Apple has elevated John Giannandrea to the company's executive team as Senior Vice President of Machine Learning (ML) and Artificial Intelligence (AI) strategy. Giannandrea, who joined Apple from Google in April, oversees the strategy for AI and ML across products and services, as well as the development of Core ML and Siri technologies. His team's focus on advancing and tightly integrating machine learning into Apple products is delivering more personal, intelligent and natural interactions for customers while protecting user privacy, the Cupertino-based giant said in a statement late on Thursday. "John hit the ground running at Apple and we are thrilled to have him as part of our executive team," said Apple CEO Tim Cook. "Machine learning and AI are important to Apple's fu...
Infosys Ties Up with Cornell University to Train Employees
BUSINESS

Infosys Ties Up with Cornell University to Train Employees

The IT giant Infosys has announced a three-year partnership with Cornell University for the purpose of training employees in emerging technologies such as blockchain, machine learning and human-computer interaction. Following the collaboration, at least 3000 Infosys employees globally are expected to participate in the joint certification programme. The other employees will participate course-by-course. “The Cornell University brand is synonymous with technology and talent, so we found a natural synergy between our organizations to improve workforce education,” said Tan Moorthy, executive vice president and Global Head of Education Training and Assessments.  This particular programme which will jointly be operated by Infosys and Cornell University will also impart skills in data analytics...
SaaS Unicorn Freshworks Launches its Second India Office at Bengaluru
News

SaaS Unicorn Freshworks Launches its Second India Office at Bengaluru

Customer engagement software company Freshworks launched its second India office at Bengaluru. This unit will act as a second engineering center and will be focussed on building new platforms and to dedicate more resources to its data science requirements. The SaaS unicorn is preparing for scale - and handling a larger customer base will require the extra hands onboard. This will also help the company to go upmarket and win over bigger deals. “Speeding up product development and enhancing our AI/ML capabilities will be the prime focus as we continue to invest in nurturing niche engineering proficiencies. Bangalore will strengthen our Platform Services, Data Science, Data Platforms and Site Reliability Engineering teams,” said STS Prasad, Senior Vice-President of Engineering at Freshwor...
PayPal To Employ 600 Techies In AI and ML Domain Soon
BUSINESS

PayPal To Employ 600 Techies In AI and ML Domain Soon

The American online payment company Paypal is considering India as a market for increasing growth and therefore, is planning to appoint over 600 techies by the end of this year that is by December, in the machine learning (ML) and artificial intelligence (AI) sector. Paypal is one of the largest online payment services till date that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques and money orders. "We plan to increase the headcount by 600 in 2018. Some of the job roles that PayPal intends to hire for include application developers- Java, Node JS; back-end developers- data engineers, data experts and product managers," Guru Bhat, GM Technology & Head of Engineering, PayPal said. "For PayPal, the India centres are key...
Microsoft Acquires a Startup To Bolster AI Potential
ACQUISITION

Microsoft Acquires a Startup To Bolster AI Potential

The world’s largest PC software company Microsoft has officially announced that according to an agreement, it is soon going to acquire an artificial intelligence (AI) startup called Bonsai. Founded in 2014, the AI company Bonsai is headquartered in San Fransisco and the primary motive of Microsoft behind this acquisition is to enhance and bolster its AI and machine learning potential. Microsoft stated that Bonsai has developed technology that will let experts with AI experience work with autonomous systems. “To realize this vision of making AI more accessible and valuable for all, we have to remove the barriers to development, empowering every developer, regardless of machine learning expertise, to be an AI developer,” said Gurdeep Pall, Microsoft Corporate VP. “Bonsai has made tremend...
Reliance Jio on a Hiring Spree of Experts Under Akash Ambani
BUSINESS

Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

The Mukesh Ambani-led Reliance Jio Infocomm has started its hunt for a team of experts to work under Akash Ambani regarding the Artificial Intelligence (AI) of the firm. Apart from AI, the company is also seeking for young people to work on machine learning and blockchain technology (a digital ledger in which transactions are recorded). It has been reported that Reliance Jio has already appointed some of the senior officials who are responsible for building this team. Akash Ambani is interestingly getting involved in this process and is being assumed to lead the initiative. The company is planning to set up this team in either of the two cities – Hyderabad or Bengaluru. An artificial intelligence (AI) oriented brand engagement platform called ‘JioInteract’ was launched by Reliance Ji...
Flipkart Introduces New Audit Programme for Quality Check
News

Flipkart Introduces New Audit Programme for Quality Check

Flipkart, India’s one of the biggest online stores has announced that mandatory visits to the sellers’ location to audit their warehouses and merchandise will be done to keep a check on the quality standards and bring down the percentage of return. Though the company did not disclose their present return percentage, it’s quite clear that they have been facing a notable loss of revenue due to high return rate for the sellers as well as the marketplace. The fashion category comprises the major part of the returns and cancellations while the mobile and appliances have the least of it. A monthly report from the e-commerce company to its third-party sellers mentioned that they may anytime give a surprise visit to their warehouses and see if the warehouse and product quality standards are bei...
Online Travel Marketplace Raises 1.6 Crore Funding
FUNDING

Online Travel Marketplace Raises 1.6 Crore Funding

Tripshelf, an online travel marketplace announced on Wednesday that it raised a funding round worth Rs 1.6 crore from a group of investors which includes GEMS advisory, Alok Mittal of Indifi, Sachin Bhatia the co-founder of MakeMyTrip and TrulyMadly, and more. The funds raised will be used to consolidate its business operations and establish a long term asset vs. hyper growth capital. Tripshelf is currently enjoying a positive period after achieving several targets such as an annual Gross Transaction Value (GTV) of Rs 36 crore and an annual revenue run rate of Rs 1.5 crore. After this funding round, the startup is now setting its eyes on achieving a run rate of Rs 3 crore annually, and a GTV of around Rs 50 crore. This time, with the fresh capital, we look forward to on-boarding mor...
News Update: SaaS Startup Raises $1.1M From Existing Investors
FUNDING

News Update: SaaS Startup Raises $1.1M From Existing Investors

Bengaluru based startup Fyle, an expense management platform has announced a fresh round of $1.1 Million funding from existing investors, Pravega Ventures and Beenext. Also part of this funding round is a strategic investment from Girish Mathrubootham led Freshworks, which has been a customer of Fyle across multiple countries. Expense management is a boring but necessary process for every company and though there have been many attempts to solve this problem, it continues to be a painful and frustrating experience for any employee. This was the business problem that Fyle is aiming at solving, and by helping automate and streamline the entire experience for businesses, they are well on their way to doing so. "Finance and Admin teams love the product as it helps them become complian...
IoT startup Chariot Raises Funding From GEMs Partners
FUNDING

IoT startup Chariot Raises Funding From GEMs Partners

Chariot, an Internet of Things (IoT) startup received Rs 2 crore in a Pre-Series A funding round led by international venture capitalist firm, GEMs Partners. The capital raised will serve to service existing and future clients, to improve their technology and expand to newer markets. This investment by GEMs partners will help us in further consolidating our reach at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth, said co-founder and CEO of Chariot, Nilay Mehrotra. Chariot is an innovative startup that provides end-to-end solutions by creating an IoT infrastructure through its platform and devices that connects to every sensing device and delivers patterns in data streams by comparing data results from the ...
Green Tech Startup Raises $1.5 Million From Accel Partners
FUNDING

Green Tech Startup Raises $1.5 Million From Accel Partners

Green Tech Startup Facilio raised a funding round of around $1.5 million from Accel Partners. Founded in March 2017 by former Zoho Executives Prabhu Ramachandra, Rajavel Subramanian and Yogendra Babu, the firm runs facilities on autopilot from maintenance to sustainability; meaning that it manages to build operations in real time across a collection of buildings through an integrated facilities management software that makes use of IoT and machine learning. They combine the flexibility facility managers that technicians want with the receptiveness and experience occupants need. By turning an agglomeration of data from different streams into one dashboard, they are able to draw useful interpretations from the data. “Our product is for companies that own and operate multiple buildings. 2...