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The owner of clothing companies Zara and Massimo Dutti, Inditex recently said that it would be closing about 1,200 retail stores worldwide within the next two years. The recent decision by the company comes after it posted its first ever loss due to the coronavirus pandemic. Meanwhile the company also unveiled a $3.1bn plan to…
San Francisco-based application programme interface (API) development platform Postman recently announced that it has raised $150mn in a Series C funding round. The funding round was led by US-based venture capital fund Insight Partners. Existing investors CRV and Nexus Venture Partners also participated in the round. Postman secured the recent funding at a $2bn valuation,…
SCAN Group and SCAN Health Plan recently announced the appointment of Sachin H. Jain as President and Chief Executive Officer, effective July 1, 2020. Jain succeeds Chris Wing, who previously announced his departure from the organization. “Following a national search, The Board of Directors is confident that Dr. Sachin Jain is the right person to…
Mahindra Group Chairman Anand Mahindra recently announced that he has invested $1mn in Gurugram-based tech startup Hapramp. The three-year-old startup works on various technologies like social networking and blockchain. The investment from Mahindra ends his two-year-long quest in finding an Indian startup working in the field of social media. After the Facebook-Cambridge Analytica scandal in…
Infosys, the global leader in next-generation digital services and consulting, announced the launch of its enterprise-grade ‘Return to Workplace’ solutions to help clients ensure safety and wellness of their employees as they adapt to new ways of working amid the COVID-19 pandemic. The cloud and edge-based solutions offer a comprehensive framework that enables enterprises to…
Wipro Limited, a global information technology, consulting and business process services company, announced a strategic partnership with CloudKnox Security. The corporate investment arm of Wipro, Wipro Ventures, has invested in CloudKnox through its $150M Fund II. “The Wipro and CloudKnox joint solution offering enables enterprises to proactively protect and manage their Hybrid and Multi-Cloud infrastructure…
San Francisco-based online grocery store Instacart recently announced that it has raised $225mn as part of a new financing round led by DST Global and General Catalyst, with existing investor D1 Capital Partners participating. The investment comes as Instacart continues to experience an unprecedented surge in customer demand for grocery delivery and pickup due to…
Nemysis Limited, a Dublin-based healthcare and pharmaceutical company, announced that it has appointed Guru Ramanathan to its Board of Directors. Guru Ramanathan, Senior Executive specialized in Global Healthcare innovation management and commercialization, brings with him over 30 years of leadership experience and knowledge worldwide, focused on customer-centric R&D, strategic business planning and pre- and post-marketing…
RapidSOS, a New York-based emergency response technology company, announced a $21 million funding round led by Transformation Capital, a leading digital health growth equity fund. Other investors that took part in the funding round include C5 Capital, a leader in cyber security, Laerdal Million Lives Fund, a global health fund focused on life-saving impact, and…
Flatfile, a developer of a database software designed to import, map, and normalize customer data, announced that it has raised $7.6 million seed funding led by Two Sigma Ventures. Existing investors including Afore Capital, Designer Fund, and Gradient Ventures, Google’s AI-focused venture fund, as well as new investors HNVR, Work Life Ventures, Quiet Capital, Basecamp…
Bengaluru-based Intech Additive Solutions Pvt. Ltd.(formerly known as Intech DMLS Pvt. Ltd.), recently announced the appointment of 3D Printing veteran Pradeep Nair as Vice President-Hardware Sales(APAC & ME Asia). Nair will be primarily responsible for the business development and sales of the company’s recently launched iFusion series of Metal 3D Printers along with its marketing…
Myelin Foundry, a Bengaluru-based deep tech product startup, announced that it has raised fresh round of funding from Kris Gopalakrishnan’s family office, Pratithi. Financial details of the funding remain undisclosed. The fresh round of funding will be utilised to boost expansion. The company has plans for expansion into the Indian and international over-the-top market. The…
WarmOven, a delivery-based fresh cakes and desserts brand in Bengaluru, announced that it has raised its first investment round led by Jyoti Bansal, Founder of AppDynamics, according to an ETtech report. Other angel investors that took part in the funding round include Anuj Srivastava, co-founder of Livspace, Abhishek Goyal, founder of Tracxn, Nitin Gupta, former…
M12, Microsoft’s venture fund that empowers B2B entrepreneurs through investments, insight, and unparalleled access to Microsoft, announced that it has set up an office in Bengaluru that will bolster efforts in pursuing investment opportunities, according to an ETtech report. M12 is based in San Francisco, Seattle, London, and Tel Aviv. The local office will pursue…
Menarini Group, a privately held Italian pharmaceutical and diagnostics company, announced that is has successfully completed the acquisition of Stemline Therapeutics Inc., a commercial-stage biopharmaceutical company focused on the development and commercialization of novel oncology therapeutics, for an aggregate cash consideration up to $677 million on a fully diluted basis. The company said that the…