India is leading in the world in startup domain India now has more than 70 unicorn startups Turning the spotlight on the importance of startups, Prime Minister Narendra Modi said on Sunday that India is, in some ways, leading the world in this domain, and that this could be a defining moment in India’s success story. The country now has more than 70 startups or unicorns with valuations exceeding $1 billion. In his radio programme Mann Ki Baat, the Prime Minister stated that in every country with a large youth…
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Vedantu initiates first ESOP Plan worth Rs 20 Cr
Edtech startup Vedantu launched its first ESOP plan Vedantu became a unicorn startup in September 2021 Edtech startup Vedantu has launched its first-ever employee stock ownership plan (ESOP) liquidity plan worth Rs 20 crore for its employees as part of the startup’s ESOP linked bonus pay-out scheme. According to an email sent by Vedantu’s CEO Vamsi Krishna on Friday, the company will conduct more similar rounds in the future while widening the scope of coverage to include more of its employees. PhonePe announced a Rs 135 crore ESOP liquidity programme…
Read MoreWhatsApp to let users react to messages similar to Facebook and Instagram
WhatsApp was spotted working on a new feature that would let users react to messages with emojis WhatsApp users will be able to react to messages using a heart emoji or a fire emoji WhatsApp has recently been working on a slew of new features. The messaging app was seen developing a new feature that would allow users to respond to messages with emojis. iMessage users are aware of the reaction to the message feature. This feature was spotted being tested by WhatsApp a few months ago. When the feature…
Read MoreDream11 bags $840 Mn in a new funding round
Dream 11 has scooped up $840 million in a new round led by Falcon Edge, DST Global, D1 Capital, Tiger Global and Redbird Capital. This is a significant jump in Dream11’s valuation Dream11 [owned by Dream Sports] has raised $840 million in a fresh funding round headed by Falcon Edge, DST Global, D1 Capital, Tiger Global, and Redbird Capital. TPG and Footpath Ventures also joined the round. According to the company, it has raised new funds valued at $8 billion. This is a considerable increase in Dream11’s worth, which was…
Read MoreKore.ai Extends Its Financing to $73.5 Million
Kore.ai has extended its Series C funding round with participation from NVIDIA. Kore.ai and NVIDIA will collaborate on accelerating innovation in the deployment of conversational AI-based platforms and solutions for enterprises. The leading conversational AI software company Kore.ai announced that it has expanded its Series C funding round with NVIDIA’s participation. Kore.ai and NVIDIA will work on accelerating innovation in the implementation of conversational AI-based platforms and solutions for companies in connection with the investment. As the global corporate sector embraces digital transformation, it is becoming increasingly important to provide outstanding…
Read MoreOfBusiness closes FY21 with 2X jump in revenue
OfBusiness became the 18th startup to reach the unicorn milestone earlier this year profit has surged 72% during the fiscal ending March 2021. The industrial goods and services procurement platform OfBusiness became the 18th company to surpass the unicorn milestone earlier this year after collecting $360 million in two months in successive rounds led by Softbank and Tiger Global. This makes it one of just a few startups among the 39 that have become unicorns this year. While its operational revenue has more than doubled, profit has increased by 72…
Read MoreupGrad merged its three India subsidiaries into one unit
upGrad has consolidated its three Indian subsidiaries—upGrad Campus, upGrad Jeet and upGrad KnowledgeHut. The three subsidiaries are in fact acquisitions that were rebranded by upGrad. upGrad has merged its three Indian subsidiaries—upGrad Campus, upGrad Jeet, and upGrad KnowledgeHut—to form a single parent company in India, at a time when the country’s edtech industry is experiencing tremendous churn. According to a statement issued Thursday, the merged business will provide the whole range of higher education technology offerings, appealing to both college students and working professionals. The three subsidiaries are really acquisitions…
Read MoreMedanta partners with Qure.ai to develop Ai solution to improve X-Ray efficiency
Global health limited Medanta collaborates with Qure.ai The partnership is expected to improve the efficiency of X-Ray based diagnosis Global Health Limited (Medanta) has partnered with Qure.ai, a developer of artificial intelligence technologies, to enhance and improve the efficacy of X-ray analysis for chest diseases. According to the company, this will allow doctors to make faster and more accurate diagnoses. Medanta has been using this solution over the last few months, said Pankaj Sahni, CEO, Medanta, and would now consider other use cases beyond X-rays. “We have started using this…
Read MoreUpstox turns unicorn with $25 million investment from Tiger Global
The online investment platform Upstox has raised $25 million from existing investor Tiger Global. Tiger Global is an existing investor in Upstox The month of November has already witnessed five startups becoming unicorns with two more entering the coveted club this week. Now, a sixth company has turned into a unicorn: Upstox. Existing investor Tiger Global has contributed $25 million to the online investing platform. The new funding looks to be part of a larger round for the company. According to regulatory documents, Upstox has approved the offering of 18761…
Read MoreAmazon-sponsored artwork that ‘learns’ peoples’ emotion debuts at Smithsonian
The sculpture titled “me+you” interprets human emotion as coloured patterns The artwork was sponsored by Amazon web services The Smithsonian exhibition is featuring a sculpture by Suchi reddy, sponsored by Amazon Web Services that employs artificial intelligence to integrate viewers’ feelings into the artwork. “me + you” is the title of the sculpture. It hears what you have to say about the future and renders your words into a display of coloured lights and patterns. Amazon donated 1,200 hours of programming to assist the artwork in translating speech to text…
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