TCS, India’s largest software exporter, has said that it will not retrench any of its nearly 4.5 lakh employees, but has decided not to give any salary hikes this year, according to a report. The Tata group company has commented on new hires that it will keep 40,000 people who have been given offers on…
Yellow Messenger, a Bengaluru-based conversational AI platform, announced that it has raised $20 million in Series B funding from Lightspeed Venture Partners and Lightspeed India Partners. Yellow Messenger will use the funds to expand globally and strengthen its multi-lingual voice bot platform. “This investment will help us scale operations to Europe, US and Latin America,…
As the novel coronavirus pandemic led to the world’s largest work-from-home experiment, video conferencing apps like Zoom and Google Meet saw a sudden rise in their user database. Organizations around the world are now moving ahead with their daily tasks via video conferencing through these apps. But their usage has also drawn severe criticism from…
E-commerce giant Amazon was recently ordered to close its warehouses in France until at least early next week. The company has been ordered to limit deliveries to essential goods such as food and medical supplies. According to Reuters reports, in an internal document sent to French unions ahead of a meeting on Wednesday afternoon, Amazon…
Online real estate rental platform NoBroker.com recently announced that it has raised $30million in Series D funding round by General Atlantic. Reportedly, this is the third investment by the Singapore-based Venture Capitalist firm in the startup. The company said this is an extension of its Series D funding, as part of which it had raised…
The airline industry has long been in a soup due to the novel coronavirus outbreak. But things got even worse for the sector post the governments imposing nationwide lockdowns and travel-bans. It is being predicted that if the lockdown gets extended any further, several budget carriers will have to file for bankruptcy. In an attempt…
The coronavirus pandemic has impacted several jobs globally with nearly 10 mn people filing for unemployment benefits in America alone. The pandemic has forced businesses to close operations and employees have been sent on furloughs for indefinite periods. The International Labour Organization has predicted that globally around 2.5mn jobs would be lost due to the…
The pandemic and the concern related to the extent of damage it can cause had brought in a good degree of participation from major corporations, philanthropists, and business leaders to support the fight against the pandemic. The Indian Energy Exchange (IEX) has also contributed Rs five crores to the PM’s Citizen Assistance and Relief in…
dotin Inc., a Silicon Valley-based startup has announced another round of seed funding from two investment firms Qu Ventures and Arka Venture Labs. The company will use the current financing round to further its product development and growth, widening the scope of its offerings. “Our AI-generated insights help recruiters and employers gain a deeper understanding…
California-based dynamic glass maker, View has recently laid off an unknown number of employees. These layoffs are also made from the company’s plant in Olive Branch, Mississippi. View specializes in making dynamic glasses that are designed to reduce heat and glare as well as lessen eyestrain. View touts its glass as a way for real…
Under Armour, Inc. has announced the appointment of Lisa Collier as Chief Product Officer. She will report directly to President and Chief Executive Officer Patrik Frisk and is expected to start on April 27. Lisa replaces Kevin Eskridge, who resigned as Chief Product Officer and will depart the company in August. “Collier will work closely…
Swedish pharmaceutical company Cinclus Pharma Holding AB (“Cinclus Pharma”), recently announced the appointment of Jenni Björnulfson as its Chief Financial Officer. According to the company, Jenni will initially start the position on a part time basis, before transitioning to full time later in 2020. Jenni has extensive professional experience from the financial markets and the…
Silicon Valley-based venture capital firm Mayfield recently announced that it has raised $750 million in capital through two venture capital funds. With the closure of the new funds, the firm currently has assets over $2.5 billion under its management. The new funds are Mayfield XVI ($475million) and Mayfield Select II ($275million). The firm said that…
Allianz Partners announces the appointment of Vinay Surana as Regional Chief Executive Officer, Asia Pacific, effective 23rd of March 2020. He will report directly to Dan Assouline, Global Head of Markets and Board Member, Allianz Partners. Based in Singapore, Vinay will lead the Asia Pacific business with responsibility for Australasia, China, Japan, India and South…
Credit rating company CARE Ratings recently announced the appointment of Ajay Mahajan as Managing Director and Chief Executive Officer of the company for five years w.e.f from April 15. Mahajan’s appointment was announced by the Board of Directors in a meeting on 15 April. His appointment is based on the recommendation of the Nomination and…