GEF Capital’s fund leads 3SC’s $15 million funding

2021-07-30 06:00:00

Supply chain planning and logistics company 3SC has raised $15 million in a Series-B funding round led by GEF Capital‘s South Asia Fund, its founder, Lalit Das, told ET. The company will use the money to expand operations and explore new tech-based products.

“Covid-19 has increased the demand for warehousing spaces and it is important for the companies to identify the right place, size and location from where they can serve the maximum number of customers

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NFTs set to crank up cricket digital collectibles business

2021-07-30 06:00:00

Mumbai: An Indian tech platform, Rario, is in the process of launching the world’s first cricket-based digital collectibles platforms, which will enable users to own non-fungible tokens (NFTs) of a verifiable, genuine instance or moment.

Globally, NFTs – a blockchain-enabled technology that proves unique ownership of digital content such as video, photo or audio – is changing the way fans buy sports collectibles.

From leagues like the National Basketball Association (NBA) and

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New tech vertical will focus on product engineering, says CP Gurnani

2021-07-30 00:43:51

With 5G deals picking up and a strong order pipeline, Tech Mahindra expects first-quarter growth momentum to sustain through the year. Chief executive CP Gurnani told ET’s Priyanka Sangani & Raghu Krishnan that the Pune-based IT services provider expects technology – carved out into a separate vertical – to be a significant growth driver going forward. Edited excerpts:

What is the growth perspective across telecom, technology and traditional


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Microsoft finalises strategic investment in Oyo at $9 billion valuation

2021-07-30 00:28:16

Microsoft has finalised a strategic investment for an undisclosed amount in SoftBank-backed Oyo Hotels & Homes, valuing the hospitality company around $9 billion, industry sources familiar with the matter told ET. Investment bankers said Oyo could be looking at adding more marquee strategic investors ahead of its initial public offering (IPO), which would follow
last week’s bumper local listing by food services platform Zomato.

Sources told ET that the global technology major will initially buy a small stake

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Robinhood makes its $32 billion debut on Wall Street

2021-07-29 22:27:42

Robinhood made its own leap into the stock market Thursday, the one it helped reshape by bringing millions of new investors to Wall Street, and shares flipped between modest gains and losses in the first few minutes of its trading.

It was at $36.61 shortly after 12:30 p.m. Eastern, down its initial $38, the low end of its expected range. The company has grown explosively since its 2013 founding after it did away with trading fees and made

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Unacademy to issue $40 million in stock options to teachers over next few years

2021-07-29 20:56:08

Ed-tech company Unacademy will offer stock options to educators on its platform, cofounder and chief executive Gaurav Munjal said.

Typically, stock options or Employee Stock Ownership Plans (Esops) are reserved for permanent employees and are used as a tool to attract talent at fledgling startups and big technology firms.

This is the first time that an education technology firm is issuing ‘Teachers Stock Options’ (TSOPs) – as Munjal called it in his video message

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Loans, taxis, education: what’s next in China’s tech crackdown?

2021-07-29 19:20:12

We are all too familiar with how power is claimed and retained in a multi-party democracy. But how does one retain power and legitimacy in a single-party system? For starters, you can purge your enemies after coming to power. Then you can amend the Constitution to abolish term limits. You can also announce the end of poverty. What next? What do people who will soon be moderately prosperous want from life? This is the Chinese Communist Party’s dilemma
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iPhone, iPad users must update OS ‘urgently’, says India’s top cyber agency

2021-07-29 18:43:05

India’s top cyber agency has warned of a vulnerability in older versions of Apple‘s mobile operating software, asking users to immediately update to the latest version which is iOS 14.7.1 and iPadOS 14.7.1.

An advisory issued by the Computer Emergency Response Team (CERT-In) on Wednesday said, “A Vulnerability has been reported in Apple iOS and iPadOS which could be exploited by a remote attacker to execute arbitrary code and gain elevated privileges on a targeted

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Sachin Tendulkar invests $2 million in JetSynthesys

2021-07-29 17:30:13

Pune: Former Indian cricketer Sachin Tendulkar has invested $2 million in JetSynthesys, thus strengthening his existing relationship with the digital entertainment and technology company.

Tendulkar and JetSynthesys have a joint venture called 100MB, which is a digital destination for all things cricket and immersive cricket games such as Sachin Saga Cricket Champions and Sachin Saga VR.

“With this investment, we are excited to see Sachin become an even more crucial member of the JetSynthesys family,” Vice

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Intel launches ‘AI For All’ initiative in collaboration with CBSE, Ministry of Education

2021-07-29 17:30:00

Chennai: Intel in collaboration with Central Board of Secondary Education (CBSE), Ministry of Education, on Thursday announced the launch of the AI For All initiative with the purpose of creating a basic understanding of artificial intelligence (AI) for everyone in India.

Based on Intel’s AI For Citizens program, AI For All is a 4-hour, self-paced learning program that demystifies AI in an inclusive manner. It is as applicable to a student, a stay-at-home parent as

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Vauld raises $25 million in funding led by Peter Thiel’s Valar Ventures

2021-07-29 16:19:55

Crypto platform for financial products Vauld has raised $25 million (Rs 185 crore) in a Series A funding round led by PayPal founder Peter Thiel’s Valar Ventures.

Existing investors Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, and Cadenza Capital among others also participated in the round.

The company has so far raised $27 million.

“We wanted folks with significant expertise of the domain, both around hiring tech talent and facing risk and financial

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Didi Global considers going private to calm China: Report

2021-07-29 16:04:34

China’s Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday.

The company has been mulling delisting plans as crackdown in China widens and it has received support from cybersecurity regulators, according to the report, which cited people familiar with the matter.

The about-turn by Didi comes just about a month after it listed on the New York

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Facebook’s future lies in virtual ‘Metaverse’, Mark Zuckerberg says

2021-07-29 13:48:47

Mark Zuckerberg doesn’t just want you logging in to his company’s products. He wants you living, working and even exercising inside them.

That’s the very high-level idea behind the “metaverse”, a vision for the future of Facebook Inc. and the entire internet that Zuckerberg started pushing aggressively in the past week.

“In the coming years, I expect people will transition from seeing us primarily as a social media company to seeing us as a metaverse company,” the Facebook

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Strata raises $6 million from Kotak Investment Advisors, others

2021-07-29 13:29:19

New Delhi: Strata, a tech-enabled real estate investment platform, has raised $6 million in a Series A funding round that was co-led Kotak Investment Advisors, Gruhas Proptech, Sabre Investments, the company’s chief executive has said.

Elevation Capital, Mayfield India and Gemba Capital also pitched in.

  • The startup will use the funding to strengthen its technology and expand operations across India, Including the key markets of Mumbai, Hyderabad, Chennai, Bengaluru, Delhi and Pune.
  • It also plans to
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Car bodyshop Fixcraft raises $1 million for expansion, hiring personnel

2021-07-29 12:50:47

Bengaluru: Fixcraft, a tech-enabled car bodyshop, has raised $1 million in equity and debt from a marquee angel investor and Ubiquity Capital, respectively.

Leaders of India’s startup ecosystem—including BharatPe’s cofounder Shashvat Nakrani, Oyo India CEO Rohit Kapoor, Oyo’s CSO Maninder Gulati and UrbanLadder founder Ashish Goel—also participated in the pre-Series A funding round, according to a statement.

The startup will use the funding to expand presence in Maharashtra, Karnataka and Andhra Pradesh, and strengthen its operations

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Raising the game with creativity and competitiveness at Synamedia

2021-07-29 12:30:09

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By Amit Chhabra, Director Development and Ganesankumar Annamalai, Fellow Solutions Architect

As the world’s largest video software provider, our teams of engineers at Synamedia’s R&D centre in Bengaluru are continually challenging the status quo and bringing new ideas to the table with a commitment to developing and delivering the technology innovations that are literally transforming before our eyes how we watch and consume TV and video.

And recently, creativity in Bengaluru has reached fever pitch. Hundreds of our

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Twitter shuts its reopened offices in US as coronavirus cases surge

2021-07-29 11:58:00

Bengaluru: Twitter Inc. is shutting its reopened offices in the United States, while other Big Tech companies are making vaccination mandatory for on-campus employees, as the highly infectious Delta Covid-19 variant drives a resurgence in cases.

Alphabet Inc.’s Google and Facebook Inc. said on Wednesday all US employees must get vaccinated to step into offices. Google is also planning to expand its vaccination drive to other regions in the coming months.

Twitter, which on Wednesday also paused future

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Uber shares plunge after SoftBank is said to undertake a stake sale

2021-07-29 10:39:02

SoftBank Group Corp. is selling about 45 million of its shares in Uber Technologies Inc, a source familiar with the matter told Reuters on Wednesday.

Uber shares were down 4.6% at $44 in extended trading.

Any buyer will have a 30-day lockup period, the source said.

The person added that the Japanese investment giant’s motive was unrelated to the performance of Didi Global and Alibaba, and SoftBank just thought it was a good time to cash out

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Cognizant to hire 100,000 people from rivals to offset attrition pains

2021-07-29 09:46:45

Chennai: Cognizant is looking to hire about 100,000 experienced professionals in 2021 and to train close to 100,000 associates, in order to offset the impact of elevated levels of attrition.

The US-based company that has over two thirds of its employees in India reported attrition of 31% in the second quarter, the highest among IT services companies in the three month period between April to June. In the previous quarter, Cognizant quarterly annualised attrition at 21%. Voluntary attrition

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Cognizant records highest attrition rate among peers, raises annual revenue guidance

2021-07-29 08:25:59

Chennai: Cognizant Technology Solutions Corp. raised its revenue growth guidance into double digits due to strong demand for its services, but attrition remains a key concern for the US-based company that has over two thirds of its employees in India.

The Nasdaq-listed company reported an attrition rate of 31% in the second quarter, the highest among IT services companies in the three-month period to June 30. In the previous quarter, Cognizant clocked a quarterly annualised attrition rate of

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