Flipkart, India’s homegrown e-commerce marketplace, announced the launch of ‘Flipkart Leap’ — the company’s first startup accelerator program to help new and upcoming startups grow, scale, navigate challenges and in turn contribute to India’s growing entrepreneurial ecosystem and boosting ‘Start-Up India’. With the call-for-entries beginning today, Flipkart Leap will identify B2C and B2B startups and…
CUSMAT, a startup that builds high immersion training systems for enterprises, announced that it has raised an undisclosed amount of funding from Venture Catalysts. The funding round was led by Venture Catalysts investor — Raveen Sastry of Multiply Ventures, and also saw participation from Vaibhav Domkundwar, Better Capital; Rakesh Verma, Chairman, MapMyIndia; and Pratap Atwal,…
Microsoft India released new research revealing that organizations that combine deployment of AI with skilling initiatives are generating most value from AI. Topline findings of the research underscore that mature AI firms are more confident about the return on AI and skills. Over 93 percent of senior executives surveyed from these companies were sure their…
JCB Group, one of the largest privately owned engineering and manufacturing companies in the UK and the World’s third largest manufacturer of construction machinery, announced the appointment of Deepak Shetty as Deputy CEO and Managing Director of JCB India Ltd. Beginning next year, Shetty will take over as MD and CEO from Subir Kumar Chowdhury,…
Borr Drilling Limited, an international drilling contractor to the oil and gas industry, announced the appointment of Patrick Schorn as its new Chief Executive Officer with effect from 8 September 2020. Schorn will succeed Svend Anton Maier who will remain with the Company as Special Advisor to the Chief Executive Officer. Schorn has been a…
Tejas Networks announced that it has received a purchase order of Rs 66 crores from L&T Construction, to supply its GPON based fiber-broadband products and high-performance Metro Ethernet switches for Indian defence network project. The order was received during last quarter and the first set of supplies have started this quarter. Larsen & Toubro (L&T)…
Persistent Systems, a Pune-based global solutions company, announced that Christopher O’Connor, Executive Director and Chief Executive Officer of Persistent Systems Limited has resigned through letter dated August 9, 2020, effective immediately for personal reasons. The Board thanks Chris for his contribution to the Company and bringing about changes which will help the Company continue its…
Blackstone, one of the world’s leading investment firms, announced that it has reached a definitive agreement to acquire Ancestry from Silver Lake, GIC, Spectrum Equity, Permira, and other equity holders for a total enterprise value of $4.7 billion. Current Ancestry investor GIC will continue to retain a significant minority stake in the company. This transaction…
Chingari, a Bengaluru-based local short video-sharing app, announced that it has attracted a funding of $1.3 million in a seed round. Investors that participated in the funding round include AngelList India, Utsav Somani’s iSeed, Village Global, LogX Ventures, and Jasminder Singh Gulati of NowFloats, said a statement from Chingari. The company plans to use the…
Murugappa Group led Tube Investments will be investing Rs 700 crore to acquire 51% stake in CG Power and Industrial Solutions, as per the media reports. The transaction is subject to Tube Investment emerging winner of the Swiss challenge process that the lenders of CG Power will undertake by August 28. This process allows other…
Actis, a leading investor of private capital into global emerging markets, announced that its Actis Long Life Infrastructure Fund (ALLIF) has completed the acquisition of two solar projects in India totalling 400MW from Acme Solar Holdings Ltd. These projects are located in the Indian states of Andhra Pradesh and Madhya Pradesh respectively. Actis is a…
Indian food delivery unicorn, Zomato recently announced that it would introduce a 10-day leave program or “period leave” for its female and transgender employees. The company says that it is a part of the brand’s efforts to combat the stigma associated with menstruation in the country. According to a Reuters report, Zomato is currently leading…
Blackbaud, the world’s leading cloud software company powering social good, announced that Brandon Sharrett has been promoted to president and general manager for Blackbaud Faith Solutions. Sharrett first joined Blackbaud as the director of sales for faith solutions in 2019 where he was charged with developing the go-to-market strategy and building the sales team dedicated…
Artemest, the Milan and New York-based e-commerce platform selling Italian luxury design, home decor and lifestyle, announced it has raised a new round of financing with the French private equity OLMA Luxury Holdings and the Swiss holding Brahma joining the Milan-based investment firm NUO Capital in supporting financially and strategically the growth of the company.…
GoExpedi, an innovative e-commerce, supply chain and analytics company, announced Noel Connolly as Senior Vice President of Digital Strategy. Connolly is a highly strategic and results-driven professional with 25 years of comprehensive domestic and global expertise with companies like National Oilwell Varco (NOV), where he led as CIO and Global SVP of Supply Chain Management…