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Softbank-backed coworking space company, WeWork recently announced that it will inject $100mn in its India unit WeWork India to help boost growth. The two companies are trying to take advantage of the long-term opportunities that India offers as a flexible workspace market. “The fresh round of capital from our long-term partners at WeWork Global represents…
Ola, India’s leading mobility platform and one of the world’s largest ride-hailing companies, announced that it has committed a sum of Rs 500 crores over the next year towards various initiatives globally, to enhance safety in mobility in our fight against COVID-19. Ola has resumed operations across the country and is now available in 200+…
Singapore-based hospitality group Banyan Tree Holdings recently announced that it is undertaking “right-sizing” and restructuring to adapt to post-covid-19 industry outlook. In an exchange filing, the company said that it is undertaking a series of right-sizing and cost-saving exercises that has affected 10 to 15% cent of its global workforce. The development was first reported…
Data storage company Seagate Technology recently announced that it is laying off 500 employees across 12 countries as part of a cost cutting strategy. The laid off employees make up about 1% of the company’s global workforce, according to a regulatory filing. The development was first reported by the Business Journal. However, when the news…
Aviom India Housing Finance Pvt. Ltd, a Delhi-based housing finance company, announced that it has raised an investment of $3.7 million from Gojo & Company, Inc., a Japan-based firm that holds stakes in microlenders, according to a VCCircle report. The company will utilise the fund infusion to set-up additional branches and expand its loan portfolio.…
Cloud9 Technologies, a US-based voice collaboration and analytics firm that offers advanced trader communication, voice analytics and transcription solutions, announced that it has completed a $17.5 million Series B funding round led by a strategic investment from UBS. Existing investors that took part in the funding round include J.P. Morgan and Barclays. “Our decision to…
Aarialife, a Pune-based software company, announced that the company has forayed into the agtech industry with the launch of Kheti Buddy, a platform that helps farmers to produce food in the most optimum way. Kheti Buddy is an end-to-end technology platform that connects every entity of the food value chain in the agri ecosystem offering…
Tata Consultancy Services, a global IT services, consulting and business solutions organization, announced that it has won the 2020 SAP Pinnacle Award in the category Integrated Delivery Partner of the Year, recognizing its outstanding contributions as an SAP partner. The SAP Pinnacle Awards honor partners for their remarkable contributions, dedication to teamwork, innovative approach and…
Sun Pharmaceutical Industries Ltd, a Mumbai-based generic pharmaceutical company, announced that it has commenced Phase II clinical trial on AQCH, a phytopharmaceutical (plant derived) drug for treatment of COVID-19. The Company received approval from the Drugs Controller General of India (DCGI) for conducting Phase II clinical trials in April this year. The clinical trial will…
DoiT International, a US-based provider of proprietary cloud optimization technologies and public cloud expertise, announced the expansion of its leadership team with the naming of Giridhar Premsingh as Global Chief Financial Officer. Prior to this role, Giridhar has led senior roles with Onica and REAN Cloud (acquired by Hitachi), both in the Cloud technology space.…
Dr. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited, was named EY World Entrepreneur Of The Year 2020 at a virtual award ceremony. Kiran was picked from among 46 award winners from 41 countries and territories vying for the world title. In the award’s 20-year history, Kiran became the third EY World Entrepreneur Of The Year…
Reliance Industries Limited and Jio Platforms Limited, a digital services platform, announced that Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest ₹ 9,093.60 crore in Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. With this investment, Jio Platforms has raised ₹…
HCL Technologies, a global technology company, and Google Cloud announced the expansion of their strategic partnership to bring HCL’s software offerings, starting with HCL Commerce, to Google Cloud. The company said that Google Cloud will be the preferred cloud platform for HCL Commerce, providing global, secure and elastic infrastructure to power businesses’ eCommerce strategies. Under…
Indian real estate major DLF recently announced that its Chairman KP Singh is retiring from the office. He will now be associated with the company in a non-executive role as Chairman Emeritus. Company Vice Chairman Rajiv Singh will now take over as Chairman of the realty major. KP Singh was at the helm of the…
The death of an unarmed man of colour in police custody in Minneapolis, U.S last week have sparked a row of protests across the country. The alleged killing of George Floyd by four Minneapolis police officers have once again highlighted the racial inequality in the United States and people have now taken to the streets…