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At a time when many companies have hit a pause on hiring, and words like furloughs, pay cuts and job cuts are doing the rounds, French IT services firm Capgemini recently said that it will continue to digitally onboard new employees in India. According to a report by Livemint, the French IT major has said…
In a very surprising move, online lending marketplace LendingClub recently announced the termination of its President Steve Allocca. Though a lot of job cuts are happening throughout the world, the firings so far were only limited to medium or junior level employees. The recent decision to terminate the serving President by the company is a…
Adding to the unemployment crisis caused by coronavirus pandemic, online lending marketplace LendingClub Corp recently announced that it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs. The layoffs represent roughly a third of the company’s total workforce of 1,538 people as of Dec. 31, 2019.…
Remote, an HR technology startup enabling simplified global employment, announced that it has raised a seed investment of $11 million. The fundraising round was led by Two Sigma Ventures, with participation from Index Ventures, General Catalyst, Liquid2, INKEF Ventures, Remote First Capital, and angel investors from GitLab and HackerOne. The financing will be used to…
Philadelphia-based collaborative knowledge management platform Guru recently announced that it has raised $30mn in Series C funding round. The round was led by Accel with participation from Emergence Capital, Thrive Capital, FirstMark Capital, Slack and Michael Dell’s MSD Capital. According to Crunchbase, the recent fund infusion brings the company’s total raised to nearly $71mn. Earlier…
Tech Mahindra Ltd. a leading provider of digital transformation, consulting and business reengineering services and solutions, is collaborating with IBM to help businesses transform their operations and accelerate their hybrid cloud strategies. Tech Mahindra will help clients migrate core business applications to the IBM public cloud using IBM Cloud Paks. As part of this relationship,…
Kid-safe social media platform, GoBubble, recently announced that it has appointed fintech veteran John Lloyd as Chief Marketing Officer. Prior to joining GoBubble, Lloyd was working with ClearlySo. At ClearlySo, he built the marketing function and secured the firm’s brand position as a leader in impact investing in Europe. Prior to that, he spent eight…
Synthetic biology company EnginZyme, recently announced that it has raised €6.4mn in Series A investment led by Sofinnova Partners. With the new investment, the company’s total funding stands over €10mn. The company plans to use these funds to accelerate the development of EnginZyme’s technology platform and take its first internal production process to pilot. The…
Indus Towers, India’s independently managed company offering passive telecom infrastructure to all telecom operators, announced that it has contributed Rs 35 crore to the PM Cares Fund in order to support the country’s fight against COVID-19. “Indus Towers’ teams on the frontline are playing a crucial role in enabling essential services of keeping India and…
The coronavirus pandemic has forced businesses and organisations to close campuses and halt all operations. It all started with the first phase of lockdown when Prime Minister Modi had asked for the cooperation of citizens to combat the virus. But due to the increase in cases and as a measure to prevent community transmission, the…
Gurugram-based agritech startup Bijak recently announced that it has raised $12mn in series A funding round. The funding round saw participation from over half a dozen investors including existing investors Sequoia-owned Surge Ventures and Omidyar Network. Earlier in October, the startup had raised $2.5mn in seed funding. Bijak was also among the 20 startups picked…
Celent, the world’s leading research, advisory and consulting firm focused on financial services technology, has named RattanIndia Finance, a leading Non-Banking Finance Company (NBFC) in India as the winner of The Celent Model Bank Award 2020 for Retail Lending, enabled by FinnOne Neo from Nucleus Software. The winner for Retail Lending, RattanIndia Finance deployed FinnOne…
Prometric LLC, a global leader in test development, test delivery, and candidate services, announced two new appointments to their leadership team. Sean Burke has joined the company as Senior Vice President and Chief Client Officer. Brooke Smith has joined the company as Senior Vice President and Chief Marketing Officer. “Adding these two seasoned executives to…
Reliance Industries Ltd, Jio Platforms Ltd and Facebook, Inc. announced the signing of binding agreements for an investment of ₹ 43,574 crore by Facebook, acquiring 9.9% equity share in Jio Platforms. This investment by Facebook values Jio Platforms at ₹ 4.62 lakh crore pre-money enterprise value. “This is the largest investment for a minority stake…
YAP, a Chennai-based API platform has announced that it has raised $4.5 million led by Singapore-based venture capital firm Beenext. Other investors including angel investors that took part in the funding round include 8i Ventures Fund, The DMI Group, Better Capital, Alok Mittal, CEO, Indifi, Ashneer Grover, CEO, BharatPe, Amrish Rau, CEO, PineLabs and Jupiter…