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GramCover Insurance Brokers Pvt. Ltd, a Noida-based tech-enabled insurance marketplace for rural India, announced that it has raised pre- Series A funding from new and existing investors. The details of funding remain undisclosed. Investors that took part in the funding round include EMVC, a US-based boutique strategic venture firm focused on early-stage fintech and insure-tech,…
Pioneering Ventures, a Switzerland-based agri-food investment firm, announced that it has acquired Lateral Praxis, an Indian agri-tech company, according to a Mint report. Financial details of the transaction remain undisclosed. The acquisition will help improve the firm’s downstream reach of tech-enabled solutions for food supply chain including information access, apps, data analytics and risk mitigation,…
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, announced their partnership with Millers Mutual to use cloud-native Digital1st Insurance platform to develop their next generation engagement and experience for customers, agents and employees. Millers Mutual Insurance based in Harrisburg, Pennsylvania, is a regional property and casualty insurer serving commercial policyholders…
Biocon Ltd, an innovation-led global biopharmaceuticals company, announced that its subsidiary Biocon Biologics has received the Drugs Controller General of India’s (DCGI) approval for an extracorporeal blood purification (EBP) device CytoSorb to reduce pro-inflammatory cytokines levels in confirmed COVID-19 patients admitted to the intensive care unit (ICU) with confirmed or imminent respiratory failure. The company…
Wipro Limited, a leading global information technology, consulting and business process services company, announced that it has been positioned as a ‘Leader’ in Gartner’s 2020 Magic Quadrant for Public Cloud Infrastructure Professional and Managed Services, Worldwide. The report authored by Craig Lowery, To Chee Eng, Scot MacLellan, Ross Winser, and Brandon Medford was published on…
US-based IT services firm Cognizant has recently offered a voluntary separation package for select employees in the United States. As the company weighs its prospect due to the COVID-19 pandemic, it has offered the scheme to employees who move to the bench between May 1 to August 31, 2020. According to an internal email, the…
CoinDCX, a Mumbai- based startup that specializes in crypto-enabled financial services, announced it has secured a $2.5 million strategic investment led by Polychain Capital with support from Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency giant Coinbase. CoinDCX states that the investment will bolster its efforts in building a user-focused and secure exchange to…
Nineleaps, a Bengaluru-based product engineering company that provides application services and accelerates product development for a range of customers, announced that it has recently conducted a two day Virtual Hackathon for its employees working remotely in more than 75 cities across India. The Virtual Hackathon saw participation of over 183 employees of Nineleaps split across 24…
Toch, a Mumbai-based interactive video shopping platform, announced it has raised over $1 million in its latest round of pre-Series A funding. Investors that took part in the financing round include SOSV and its accelerator, Chinaccelerator, 9 Unicorns Fund, and Inflection Point Ventures. The company said it will use the funds infusion to further deepen…
New Delhi-based electric vehicle start-up Euler Motors recently announced that it has raised ₹20 Crores through its ongoing series A funding round. The fundraiser was led by Inventus Capital along with other participants. The other investors in the fresh round of funding include Blume Ventures, Singapore-based Jetty Ventures India Investments and Udaan’s co-founder Sujeet Kumar.…
UK-based luxury car manufacturer Aston Martin recently announced that it has appointed Tobias Moers as its new Chief Executive Officer. The recent appointment at the struggling carmaker comes after its former CEO Andy Palmer stepped down from the President and Group Chief Executive position. Tobias will be taking over the company from 1 August, with…
Suzuki Motor Gujarat recently announced that it has resumed production at its Hansalpur plant. The company manufactures cars for the Maruti Suzuki brand in India on contract basis. The same announcement was made by Maruti Suzuki India Limited in a regulatory filing with Bombay Stock Exchange. The company said it restarted the operations keeping all…
Technology company Datch has secured $3.2 million in seed funding for its “Voice-Visual” AI assistant for industry. The funding round saw participation from Blue Bear Capital as the lead investor, along with support from Stage Venture Partners, Tuhua Ventures, Lorimer Ventures, Predictive Venture Partners, and Plug and Play Ventures. “With industry-leading partners on board from…
Ride-hailing giant Uber recently announced that it is laying off 600 employees or 25% of its workforce in India as the company struggles to get business on track during the coronavirus pandemic. The recent layoffs from its India workforce are a part of Uber’s global downsizing exercise which will affect about 6,700 employees globally. India…
IDFC FIRST Bank recently announced that its senior management has volunteered to take a 10% cut in compensation in the current financial year 2020-21. Along with the leadership team, V Vaidyanathan, MD & CEO, IDFC FIRST Bank, has also voluntarily offered to take a pay cut of 30% in his compensation including Fixed compensation as…