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Ratan Tata to exit his investment in Lenskart with 5x return

Ratan Tata to exit his investment in Lenskart Solutions. As many as 24,246 shares held by Ratan Tata will be converted into common equity shares for secondary sale, said media reports. Tata has purchased these shares at Rs 2 per share, as per the company’s regulatory disclosures. The Lenskart board gave the responsibility of monitoring the company’s equity-based remuneration plan for employees to Lenskart ESOP Trust.

Check Point appoints a new senior director for India business

Check Point Software, a global cybersecurity solutions provider has appointed Manish Alshi, as head of channels and growth technologies for India. Alshi was previously the director of channels and alliances at VMware Software India. At CheckPoint, he will be responsible for supervising the company’s channel ecosystem in India and the SAARC region along with business growth for cloud, mobile and endpoint security.

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Saurabh Mittal appointed as Piramal’s CTO of Retail Finance Business

Piramal Capital and Housing Finance have appointment Saurabh Mittal as the CTO of the Retail Finance business. He will be responsible for creating a strategy towards building advance Tech and AI for lending business and creating a cloud-native cutting-edge tech-stack. Mittal will also be responsible for creating a strong engineering team that will focus on developing and managing tech for both customer and partner-facing business platforms.

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SoftBank’s Z holdings to invest $4.7 bn in tech in next 5 years

Z Holdings, the internet subsidiary of SoftBank, has planned to invest 500 bn yen ($4.7 bn) in technology in the next 5 years with a special focus on Artificial Intelligence. This news comes after the merger of its internet business Yahoo Japan with chat app operator Line, resulting in a $30 bn internet heavyweight. The company said Z Holdings is hoping for sales of 2 trillion yen and an operating income of 225 bn yen by 2023 post-merger.

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Tarun Anand, Dabur’s Head IT joins Modicare as CIO

Tarun Anand, who was heading IT and Digital transformation as Head-Global IT at Dabur India has joined Modicare as the company’s CIO. In this new role, Anand will be responsible for managing IT and introducing new tech for business benefits. Anand, with 25 years of experience, is a global IT leader and has worked in different industry verticals like FMCG, Retail, and Direct Selling industries in companies such as Oriflame, Mother Dairy, Dabur India.

Apple alum’s startup for skilled workers raises $12.5 mn

Apna, a startup by an Apple alum, has become a new online destination to 6 mn skilled workers in India. The start-up has raised $12.5 mn in just five months after it received funding of $8 mn. Sequoia Capital India and Greenoaks Capital led the latest round, along with existing investors Lightspeed India and Rocketship VC. Nirmit Parikh, the founder and CEO said that the network gap was the most crucial challenge, and solving it will enable people to get better opportunities.

CERT-In alerted grid controllers about China-backed cyberattacks in Nov

National Power Grid took all possible measures to protect its network from hacking by Chinese state-backed hackers when CERT-In in Nov detected ShadowPad malware, one of the largest supply chain vector. The national grid operator and its other units were alerted about the malware along with the possibility of a cyberattack. In Feb, another cybersecurity agency detected an attempt by Red Echo, a Chinese group, trying to break into the grid control system.

Smitesh Shah joins Ambit Finvest as EVP-IT, Head Business-Technology, Transformation

The CTO of Avanse Financial Services Smitesh Shah has quit and joined Ambit Finvest as the EVP-IT & Head Business-Technology & Transformation. Ambit Finvest is the branch of Ambit Group which provides financial services to the country for SME’s and has partnerships with QInvest, Daiwa Securities Group, and more. Shah has worked for the past 17 years with companies like VFS Global, L&T Finance in important technology management roles.

Flipkart changes top management ahead of planned IPO

Flipkart changed top management ahead of IPO planed at end of 2021. Hemant Badri has been appointed as senior VP, Supply Chain Ops while Amitesh Jha, who previously headed supply chains of Flipkart and Myntra will look after category design operations and Marketing, Merchandising & Monetization. Ranjith Boyanapalli, Head of the fintech group, will take up the additional charge of customer experience, marketplace and Liquidation Team.

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