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Category: Start-up (page 1 of 22)

Edtech startup WizKlub appoints Pankaj Bande as CTO

Bengaluru-based Edtech startup WizKlub has appointed Pankaj Bande as CTO to lead the product design, learning, and development Team. He brings with him 20 years of professional experience and has worked with Wipro and Cognizant in the past. Bande has quality experience in conversational AI, IoT, Blockchain, Mobile Robotics, hardware, etc. In his last assignment, he served Wipro as Senior Architect for Conversation IoT Solutions for BFSI, Healthcare, Auto sectors.

Google offers 40,000 scholarships in Africa; continues start-up accelerator program

Google announced the launch of 40,000 new developer scholarships for mobile and cloud development tracks in Africa. The scholarship is offered in partnership with tech talent firms Pluralsight and Andela. The top 1,000 students, at the end of the training, will be given full scholarships, with certifications in Android and cloud development. Google’s three-month accelerator program will begin on June 21.

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ElasticRun raises $75 mn to grow its platform for 1 mn neighborhood stores

ElasticRun has raised $75 mn, in a round jointly led by existing investors Avataar Ventures and Prosus Ventures. Kalaari Capital, another existing investor, also participated. The four-year-old startup, to-date, has raised $130.5 mn. ElasticRun operates in 300 cities with over 125,000 neighborhood stores. The Pune, India-based start-up plans to reach 1 mn stores in the next two years, Shitiz Bansal, co-founder and CTO of ElasticRun, told to TechCrunch.

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India’s food-tech startup Zomato files for IPO to raise $1.1 bn

Indian food tech startup Zomato has filed for an IPO to raise $1.1 bn. It has become the first Unicorn to file for an IPO in the country which is also the second-largest internet market across the globe. Zomato is a 12-year-old Gurgaon-based startup and has Info Edge and Ant Group among its investors. It clocked $183.6 mn in revenue between April 1 and Dec 31 2020 and made losses of $91.8 mn during the period. The startup employs 3,469 people across the globe.

Tech Mahindra acquires hybrid cloud, DevOps services provider DigitalOnUs

Tech Mahindra has acquired DigitalOnUS, a hybrid cloud and DevOps services provider, for $120 mn, including retention bonus and earnout. The acquisition will help Tech M to strengthen its hybrid-cloud offerings, cloud-native development, and Site Reliability Engineering automation.  DigitalOnUS is headquartered in California and has a presence in India, as well. It has over 380 employees and posted a revenue of $30.6 mn for the FY ending on 31st Dec 2020.

Zoom launches $100 mn funds to invest in apps, hardware using VC software

Zoom has created $100 mn funds to invest in startups that build application and services using its video conferencing technology. Zoom CFO Kelly Steckelberg, in an interview, said that the company will invest anything between $250,000 and $2.5 mn into firms building “Zoom Apps” that plugs its popular VC software to build new features. The fund will also be open to telemedicine app providers or conference room hardware makers.

India’s Razorpay raises $160 mn at $3 bn valuation

Razorpay has raised $160 mn at a $3 bn valuation, up from $1 bn in Series D in October last year. The new round was led by existing investors Singapore’s sovereign wealth fund — GIC — and Sequoia Capital India and saw the participation of Ribbit Capital. The fintech startup, to date, has raised funds to the tune of $366.5 mn. Razorpay accepts, processes and disbursed funds online for businesses.

PhonePe to enter stockbroking business soon

PhonePe is set to enter the stockbroking business. The fintech startup has applied for the license from the SEBI and is waiting for the mandatory approvals. PhonePe aims to tap its existing user base to foray into the broking business by encouraging them to invest a part of the unutilised funds in wallets in stocks. PhonePe, in March, processed 1.19 bn UPI transactions to the tune of Rs 2.31 lakh cr to grab 44% of the UPI market share.

Microsoft in advance talks to buy AI startup Nuance for $16-bn

Microsoft is in the final round of talks to acquire AI and speech tech start-up Nuance Communications for $16 bn, as per the Bloomberg News report. The deal could be announced within a week. The price, as the sources quoted by the news report, could value Nuance at about $56 a share. Discussions. however, could still fall apart. Microsoft or Nuance is yet to officially issue a statement or comment on the possible deal.

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