Online travel giant Expedia Group is cutting 12% of its workforce or about 3,000 jobs, after a “disappointing” 2019, the company said. Recently, Expedia Group’s leadership sent an email to its employees globally saying that it plans “to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization.” In the…
Bengaluru-based online money lending startup Rupeek, recently announced that it has raised $60mn in funding across two rounds from investors including Flipkart co-founder Binny Bansal and GGV Capital. Other investors like Tanglin Venture Partners and KB Investments also participated in the funding. Existing investors Sequoia Capital and Accel were also present during the funding rounds.…
Singapore-based ridesharing startup Grab, recently announced that it has raised more than $850mn from Japan’s Mitsubishi UFJ Financial Group Inc and TIS Inc. With the recent investment, the company plans to bankroll its expansion into financial services in the region. According to joint statements from the companies, the sum includes $706 million from Japan’s largest…
Chicago-based HealthJoy recently announced that it has raised $30mn in Series C funding round led by Health Velocity Capital. Existing investors U.S. Venture Partners, Chicago Ventures and Epic Ventures also participated in the funding round. With the latest infusion of funds, HealthJoy’s total funding so far stands at $53mn. The company plans to use the…
Plug-and-play E-commerce platform for offline stores Near.Store recently announced that it has raised $300,000 in seed funding from venture capital fund Sauce.vc and other individual investors. Near.Store helps offline stores go online, digitize their inventory, develop new consumer relationships and access business data and insights to make their business more efficient. This is done through…
Venture Capital firm Blume Ventures recently announced the closure of its opportunity fund titled Fund IIA at $41mn. The fund will be used to support growth-stage portfolio startups. The announcement of the opportunity fund follows the closure of Fund III by Blume Ventures. According to a company statement, the investment for the new fund was…
ValueFirst Digital Media recently announced that it has appointed Vijayant Dhaka and Himanshu Kumar as Senior Vice Presidents. Vijayant Dhaka, an industry stalwart for the past 14 years, was working in leadership roles at Cheetah Digital and Octane prior to this appointment. Speaking about the appointment, Dhaka said “ValueFirst has invested in multiple technology platforms…
Global tax services and software provider, Ryan LLC, recently announced the opening of its second office in Hyderabad, India. The new office at Salarpuria Sattva Knowledge City will be used for supporting the company’s accelerated growth. The company also plans to hire people for its new office. In a company statement, CEO and Chairman of…
Biotech startup Arima Genomics Inc. has recently announced that it has completed Series A funding round led by Agilent Technologies and Cowin Venture. The funding round also saw participation from Vectr Ventures and Berkeley Catalyst Fund. The company plans to use these funds for expanding its commercial efforts and adding new applications to the existing…
Cybersecurity provider Paladion and leader in AI-Driven Managed Detection and Response recently announced that it has won the 2020 Most Innovative AI Solution award presented by Microsoft. Microsoft AI Awards 2.0 is an initiative of Microsoft to encourage innovation in Artificial Intelligence, identify fresh talent, as well as find new solutions for positive change across…
Former Senior Vice President of HR at PI Industries, Biswarup Goswami has recently moved to a new role as the Chief Human Resources Officer(CHRO) at GHCL Ltd (formerly Gujarat Heavy Chemicals). An industry veteran, Goswami has more than two decades of experience in the human resources field. Prior to joining PI Industries as Senior Vice…
US-based satellite broadband provider Hughes Network System may have to shut its Indian operations due to unpaid dues owed to the government. According to Reuters, this development could put thousands of banking services at risk. Recently, the Supreme Court of India had ordered a number of telecom companies, including Hughes and larger firms like Vodafone,…
Microsoft India announced a collaboration with SBI Foundation to create opportunities for youth living with disabilities in the Banking, Financial Services and Insurance (BFSI) sector. The three-year program was launched by Jean-Philippe Courtois, Executive Vice President, Microsoft and Rajnish Kumar, Chairman, SBI in Mumbai. Through this collaboration, Microsoft and the SBI Foundation will equip youth…
iMerit Technology Services Pvt. Ltd, an AI-based data labelling startup, announced it has raised $20 million in Series B funding round led by CDC Group Plc, the UK government’s development finance institution. Existing investors such as Omidyar Network, Michael and Susan Dell Foundation, and Khosla Impact also took part in the current funding round, as…
Global food and beverage giant PepsiCo Inc recently agreed to buy Chinese snack brand Be & Cheery from local jujube maker Haoxiangni Health Food Co Ltd. According to the company, the acquisition will cost PepsiCo about $705mn. PepsiCo said that the company plans to become China’s leading consumer-focused food and beverage company post the acquisition.…