Fundings News

IT services firm Prodapt appoints former Tech Mahindra exec Manish Vyas Vyas, who joins Chennai-headquartered Prodapt after a 23-year-plus tenure at Tech Mahindra, will guide the leadership team to drive strategic initiatives, the statement by Prodapt said. Vyas quit Tech Mahindra, India’s fifth-largest software services firm, on November 17 last year.

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Infosys under fire for failing to create jobs in Karnataka During the Karnataka state legislature's budget session, Arvind Bellad criticizes Infosys for not delivering on job creation. Priyank Kharge suggests withdrawing incentives and land in cases of non-performance. MB Patil promises to investigate and ensures jobs at Foxconn's plant in Doddaballapur.

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Wipro acquires US insurtech firm Aggne Global for $66 million Wipro will acquire 60% of the company in an all-cash deal, with an option to purchase the remaining stake over a period of time, as per a stock exchange filing. Revenues of the Aggne Group are $4.5 million for calendar year 2021, $9.1 million for 2022, and $17.9 million 2023.

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Infosys signs multi-year contract with Singapore’s Pacific International Lines The multi-year, multi-phased collaboration seeks to address critical business challenges such as modernizing web and mobile applications, enhancing scalability, and providing advisory services on the latest technology and business trends, it added. Deal financials remained undisclosed.

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Genpact expects FY24 revenue to remain sluggish, FY23 growth slows to 4% Genpact forecasts total revenue for Q1FY24 in the range of $1.108-1.114 billion representing a modest growth of 1.75-2.25%. The growth on a constant currency basis is projected in the range of 1.95% to 2.45%. Gross margins are expected to remain flat at 35%. Full-year revenue growth is expected to remain lower in the

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Freshworks CRO Pradeep Rathinam quits; Abe Smith named global field operations chief Freshworks has hired Abe Smith, former executive at Zoom, as its Chief of Global Field Operations. The company's Chief Revenue Officer, Pradeep Rathinam, will be leaving at the end of the month. Freshworks reported a 20% increase in total revenues to $160 million for Q4, with a net loss of $28 million.

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Edtech startup Classplus unveils second Esop buyback, over 150 employees eligible This is Classplus’ second offer in three years to repurchase shares issued under its employee stock ownership plan (Esop). More than 150 employees across roles and business verticals are eligible to sell their vested shares to the company, the edtech startup said in a news release. The youngest participant in this buyback is a 23-

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SaaS startup partners Boston Dynamics to deploy humanoid robot at construction sites Zepth is in talks with investors to raise its first funding round in order to expand in the Americas, as well as deeper in India and the Middle East. The company's project manager app has over 40,000 downloads in India and is used by over 500 projects and 8,000 daily users.

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Paytm-Byju’s crisis: Alphas, cowboys and the strong, silent types Two of the biggest names in the Indian startup world, Paytm's Vijay Shekhar Sharma and Byju's founder Byju Raveendran, face an existential challenge to their businesses. The recent challenges faced by these founders reflect the excesses of the hyper-funding period and highlight issues of governance, compliance, and transparency.

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HP discovers Rs 30 crore worth of counterfeit supplies in 2023 According to the HP Anti-Counterfeiting and Fraud (ACF) report, in this period, law enforcement authorities have removed nearly 4.4 lakh illicit items from the market, including 1 lakh being confiscated from Mumbai alone.

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Apple Vision Pro: social media gets a taste of forbidden fruit The rolling waves of consumer interest that the mixed reality headset is drawing has prompted technology analysts to bill it as “the most complicated consumer device ever created.” Harmeet Singh Walia, senior analyst at Counterpoint Research reckons “this is perhaps Apple’s most important new device since at least

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UK-based Ciklum acquires Infogen, aims to double down on India Ciklum is one of the portfolio companies of Recognize, a technology investment platform, led by IT industry veterans including former Cognizant CEO Frank D’Souza along with Raj Mehta, Charles Phillips, and David Wasserman.

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Elon Musk’s ‘unfathomable’ $56 billion Tesla pay package Musk's 2018 compensation package created 12 tranches of options - each equivalent at the time to 1% of Tesla's outstanding shares - potentially giving him a 12% stake in the automaker. Musk would receive no salary.

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Rewards-focussed mobile browser Veera raises $6 million funding led by Ayon Capital Veera, a rewards-powered internet browser, raised $6 million in a seed-funding round led by Ayon Capital. The browser, launched in September 2023, has crossed 100,000 users. Founder and CEO Arjun Ghose aims to solidify Veera's position as the preferred browser for Indian internet users.

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Explurger raises $4.5 million in funding round led by Affle The freshly acquired funds will be used for scaling up future growth initiatives and fostering community development through the integration of newer technologies such as artificial intelligence, the company said.

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