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Startup Story

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CIEL Group Strengthens HR Solutions Portfolio with Acquisition of Aargee Staffing Services

CIEL Group has acquired Aargee Staffing Services, an IT staffing company based in Chennai.
The acquisition marks the fourth strategic acquisition by CIEL Group in the past year.
It aligns with CIEL Group's strategy to establish a strong presence in the HR value chain.
CIEL Group intends to file for an IPO in June 2024 and aims to raise Rs 500 crore.

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932 reads

Yourstory

Impetus to drone and aviation industry will position India ahead of its global peers: Jyotiraditya Scindia

Jyotiraditya Scindia, Union Minister for Civil Aviation and Steel, highlighted the growth and potential of the drone and aviation industry in India.
Policy updates and impetus given to technology providers and MSMEs in the sector will position India ahead of its global peers.
India has witnessed significant growth in civil aviation, with the number of airports increasing from 74 to 149 in the last nine years.
The government is focusing on drones and advanced air mobility, creating policy changes and a conducive environment for manufacturing and employment generation.

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735 reads

Inc42

Lighthouse Canton Closes Early Stage Indian Startups Focussed AIF At INR 350 Cr

Lighthouse Canton has closed its LC Nueva AIF, an early stage Indian startups focused AIF, at INR 350 Cr.
The fund size was increased to INR 350 Cr due to high demand from family offices and institutional investors.
LC Nueva AIF has received interest from investors, including Small Industries Development Bank of India (SIDBI).
The fund invests in revenue generating startups with a focus on healthtech, consumer tech, fintech, and edtech businesses.

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517 reads

Inc42

Prosus Marks Down BYJU’S Valuation To Under $3 Bn From Peak $22 Bn

Dutch investor Prosus has marked down the value of its stake in edtech giant BYJU’S, taking the valuation of the company to under $3 Bn.
This is a sharp decline of over 85% from the peak valuation of $22 Bn during its last fund raise.
Prosus has been helping BYJU’S overcome multiple challenges, but the company continues to face troubles.
BYJU’S is dealing with issues such as sponsorship disputes, alleged FEMA violations, delayed financial statements, layoffs, top-level exits, and potential debt crisis.

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455 reads

Yourstory

Lakhpati Didi scheme to empower around 30,000 women drone pilots: Union Minster Jyotiraditya Scindia

Under the Lakhpati Didi Yojana, the Indian government plans to empower approximately 30,000 women as drone pilots.
The scheme includes providing women with drones at an 80% subsidy, free training, and insurance.
The government aims to roll out the scheme over the next two years and empower women from both rural and urban areas.
The drone industry in India is expected to create significant job opportunities and growth, particularly in the drone-as-a-service sector.

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699 reads

Techminis

This doctor built a Rs 11,400 Cr startup from her small clinic

Pristyn Care, a healthcare startup founded in 2018 by Dr Garima Sawhney, her husband Vaibhav Kapoor, and childhood friend Harsimarbir Singh, began as a small clinic in Gurgaon.
Pristyn Care overcame initial scepticism by utilizing unused hospital space for advanced surgical procedures, improving transparency.
The startup expanded into Tier 2 cities, offering end-to-end services, gaining traction, and serving over 1.5 million patients. In June 2022, it acquired Lybrate to expand primary healthcare services.
Currently generating Rs 1,100 Cr in revenue, Pristyn Care has partnerships with 800+ hospitals, 200 clinics, and a team of 700+ doctors.

663 reads

Yourstory

Garuda Aerospace is planning IPO in 6-8 months, says CEO Agnishwar Jayaprakash

Garuda Aerospace is planning to go for an IPO in the next 6-8 months.
The CEO, Agnishwar Jayaprakash, aims for it to be the largest drone IPO in India.
Garuda Aerospace has raised a total of $27.3 million in funding and expects a turnover of Rs 120-150 crore this fiscal year.
The company has over 300 clients and offers drone-based solutions for various applications.

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601 reads

Coinpedia

Image Credit: Coinpedia

OCEAN Levers Up As It Raises $6.2 Million

OCEAN raised $6.2 million in seed funding led by Jack Dorsey and other participants.
The funding will help introduce OCEAN to the public and create awareness around Bitcoin.
Investors perceive OCEAN as a solution to the centralization of Bitcoin mining and pools.
Jack Dorsey stated his support for projects that are good for Bitcoin and his companies.

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658 reads

ISN

Tata Sons-owned Tata Advanced Systems partners with Satellogic to develop local space technology capabilities in India

Tata Advanced Systems Limited (TASL), a key player in India's aerospace and defence sector, has partnered with Satellogic Inc. to develop local space technology capabilities in India.
The partnership aims to manufacture satellites and develop imagery in India for national defence and commercial purposes.
TASL is setting up a satellite Assembly, Integration, and Testing (AIT) plant in Karnataka to enhance India's space capabilities.
The collaboration also aims to advance commercial space capabilities and increase access to critical information for various applications, such as security, sustainability, and energy.

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409 reads

Yourstory

India made $3B worth of investment in semiconductor packaging in last 18 months: Rajeev Chandrasekhar

India has made investments worth $3 billion in the last 18 months in semiconductor packaging and memory modules, Union Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, said at YourStory's TechSparks 2023 in Delhi on Wednesday.
Over 35 design startups have been funded in India, working on next-generation devices.
The government is launching the 'Digital India Future Labs program' to support electronics design startups.
India aims to become a significant manufacturing hub for electronics and target $300 billion worth of electronics manufacturing by 2025-26.

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637 reads

Techminis

39 EazyDiner employee owners, including CEO and driver, turn millionaires

EazyDiner distributed the first tranche of 2 crores from its ESOP Trust, making 39 employee-owners, from the driver to the CEO, millionaires. The ESOPs are valued at 40 crores, potentially reaching 80 crores at the current estimated valuation.
EazyDiner stands out in the hospitality industry by offering shares to all employees, after a minimum of four years with the company, aiming to address issues of retention and reward long-term commitment.
It positions itself as a tech-enabled restaurant and hotel company, distinguishing itself as the largest eating-out platform.
The company emphasizes decentralized with a commitment to delivering value to all stakeholders.

490 reads

Medium

How Amazon Alexa Tracks Your Personal Data

Alexa collects a wide range of data from users, including voice recordings, transcripts of conversations, location data, and contact information.
Amazon uses the data for various purposes, such as improving the device's performance and personalizing the user experience.
Privacy concerns include the potential misuse of personal data and the lack of transparency in how Amazon handles and shares the collected information.
To protect your privacy, you can take precautions such as reviewing your Alexa settings, limiting data sharing, and being cautious about what you say near the device.

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705 reads

Medium

How AI is Transforming Lead Time Dynamics in Software Engineering

AI tools such as GitHub Copilot and GitGuardian have become indispensable in software engineering, accelerating coding and enhancing code quality.
AI-driven automation tools like Jenkins simplify the release process and minimize delays, enabling swift delivery of software updates.
AI-powered visual testing platforms like Applitools expedite the testing phase and ensure flawless software functionality.
Overall, AI tools in software development lead to a reduction in lead time, improved code quality, and more efficient decision-making.

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677 reads

Analyticsindiamag

Dell Secures $150 Million Hardware Deal with AI Startup Imbue

Dell has signed a $150 million deal with AI startup Imbue.
Dell will provide servers to Imbue for processing massive datasets and developing advanced AI systems.
Imbue chose Dell to maintain independence and avoid reliance on a single tech company.
Imbue aims to create AI agents with advanced reasoning capabilities.

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476 reads

HinduBusinessLine

Image Credit: HinduBusinessLine

Infosys Finacle powers Bank of Commerce’s core banking transformation

Infosys Finacle is powering Bank of Commerce's core banking transformation.
The suite includes Finacle Core Banking, Finacle Liquidity Management, and Finacle Customer Data Hub solutions.
Finacle's componentised core banking solution allows a risk-mitigated replacement of legacy systems.
The modernization of the core banking system enables Bank of Commerce to deliver a digital banking experience and keep pace with industry best practices.

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461 reads

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