HP’s shipments grew by 58.7% per cent YoY in CY2021. While the company continues to grow in both the commercial and consumer segment, until now, the majority of HP’s hardware was imported in the country. The American multinational intends to change this with its “Made in India, for India” plans. The company has been manufacturing commercial desktops in India for a long time but it has now commenced local manufacturing of laptops in the country. Laptops including HP’s EliteBooks, ProBooks and HP G8 series notebooks are being made at the…
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AgNext eyes expansion in Vietnam and the Middle East
AgNext Technologies, an agritech startup, plans to launch operations in the Middle East and Vietnam in the coming months, according to Subrat Panda, AgNext’s Chief Technology Officer. According to the company, the lack of quality assessment solutions causes approximately $90 billion in losses in global agricultural trade. Agnext solves this problem with a mix of AI, machine learning, the Internet of Things (IoT), and advanced data analysis in its technology products. It claims to deliver real-time accuracy of up to 99 percent through its full-stack ‘Qualix’ platform, which provides rapid…
Read MoreByju’s-owned upskilling platform Great Learning buys recruitment firm Superset
The upskilling platform Great Learning, which is owned by Byju, announced on Tuesday that it had acquired Superset, a recruitment platform backed by Blume Ventures. The transaction’s value was not disclosed by the company. Great Learning said in a statement that Superset will continue to operate under the leadership of its co-founders Naman Agrawal and Pranjal Goswami. Agrawal told VCCircle in an interview that Blume Ventures had exited the company as part of the deal. Superset was founded in 2017 by Weblength Infonet Pvt. Ltd with the goal of using…
Read MoreZuckerberg reveals AI projects to power Metaverse
Mark Zuckerberg, the founder of Meta, has unveiled a slew of ambitious artificial-intelligence projects, calling AI “the key to unlocking the Metaverse.” He used the AI feature Builder Bot to create a basic virtual world, complete with an island, trees, and a beach, in a livestreamed demonstration. Mr. Zuckerberg also stated that he intends to develop a universal speech translator. “The ability to communicate with anyone in any language is a superpower that was dreamt of forever,” he said. Builder Bot was part of Meta’s CAIRaoke project to improve AI…
Read MoreNeobanking startup Niyo raises $100 Mn led by Accel and Lightrock
Niyo, a consumer neo-banking platform, has raised $100 million in a Series C round led by Accel and Lightrock India, with Beams Fintech Fund participating. This round also included existing investors Prime Venture Partners and JS Capital. The new funds come after a more than 30-month wait for the Bengaluru-based company, which raised $35 million in a Series B round in July 2019 from Horizons Ventures, Tencent, and others. According to a press release from Niyo, the funds will be used for product innovation, marketing and branding, expanding its distribution…
Read MoreFintech startup Perfios raises $70 Mn
Perfios, a fintech startup, has raised around $70 million in a Series C round led by Warburg Pincus and Bessemer India. In November 2019, the Bengaluru-based startup raised $50 million in a Series B round led by Warburg Pincus and Bessemer Venture. According to Perfios’ regulatory filings, the company has passed a special resolution to allot 416,336 Series C preference shares at an issue price of Rs 12,610 per share to raise Rs 525 crore ($70 million). In this round, Warburg has put in Rs 412.5 crore, while Bessemer has…
Read MoreVedanta team visits Pune to check feasibility for setting up semiconductor plant
A team from Indian conglomerate Vedanta visited Pune on Friday to assess the feasibility of establishing an electronic chip plant in the district, according to a government official. Under the government’s incentive scheme, Vedanta Group companies have applied to set up semiconductor and display manufacturing units in the country. By 2024, it expects to have display units for mobile phones and electronics devices on the market, as well as electronic chips made in India by 2025. Several automobile companies have manufacturing plants in Pune. Vedanta intends to start with 28…
Read MoreRezolve.ai expects revenues to cross $50 million in the next three years
Rezolve.ai, a service desk and workplace automation company, said it expects to reach $50 million in revenue in the next three years, thanks to the planned acquisition of nearly 1,500 clients around the world. In comparison to the entire year of 2020, the company’s revenues trebled in 2021, and it signed many new clients in December 2021. Despite sporadic office re-openings during two pandemic waves last year, it kept all of its clients. “We are seeing an accelerating shift in the customer’s preferences from a legacy agent focused ticketing system…
Read MoreWe should go for indigenous manufacturing in defence sector : PM Modi
Cyber security is no longer limited to just the digital world as it has now become a matter of national security, Prime Minister Narendra Modi said on Friday. He also noted that the process of importing defence items is so long that by the time they reach our security forces, many of them have become outdated and therefore, the solution is to go for indigenous manufacturing. “Even during the period of slavery and immediately after Independence, the strength of our defence manufacturing was very high. Weapons made in India played…
Read MoreHealthcare company MediBuddy raises $125 Mn in Series C round
Quadria Capital and Lightrock India joined existing investors Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital in a $125 million Series C funding round. The Bengaluru-based firm previously raised $40 million in its Series B round in February of last year, eight months after its merger with online doctor consultation platform DocsApp. MediBuddy and DocsApp share the same brand name: MediBuddy. According to a press release from Medibuddy, the new round of funding will be…
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