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Hitconsultant
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Accenture Invests in 1910 Genetics to Accelerate AI-Powered Drug Discovery
- Accenture has made a strategic investment in 1910 Genetics, a biotechnology company using AI-powered platform for drug discovery.
- The collaboration aims to accelerate drug development, reduce costs, and deliver more effective therapies to patients.
- 1910 Genetics' ITO™ platform enhances target identification, molecule design, and simulations using AI.
- Accenture's expertise will help integrate 1910 Genetics' AI platform into existing drug development pipelines.
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VIE Stories
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Kanakadurga Finance in Talks with Private Funds to Raise Equity Capital of Rs. 100-125-Cr
- South India-based NBFC Kanakadurga Finance Ltd is in talks with private equity funds to raise a Series B equity fund of Rs. 100-125 crore.
- Intellecap, an advisory and consulting arm of Aavishkaar Group, has been appointed by Kanakadurga Finance for the fundraising.
- Kanakadurga Finance focuses on used commercial vehicle financing in semi-urban and rural geographies.
- The company has expanded to six states and one Union Territory, with 154 branches, and aims to close the year with Rs. 800+ crore AUM.
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VIE Stories
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Fintech Startup Zinc Secures $25.5 Mn from Nexus Venture Partners, Others
- Fintech startup Zinc has raised $25.5 million in a seed funding round led by Quona Capital, EDBI, Global Ventures, Saison Capital, and Nexus Venture Partners.
- The Singapore-based company plans to use the funds to develop new products, expand its offerings, and obtain important financial licenses.
- Zinc aims to provide a financial foundation for parents and students to cover the increasing costs of studying abroad.
- The company has also applied for a brokerage license to the International Financial Services Centers Authority (IFSCA) in GIFT City.
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Startup Pedia
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Swiggy Executive Impressed by Job Seeker's 'Old-school' Approach
- A job seeker impressed a Swiggy executive with an 'old-school' approach.
- The job seeker sent a physical job application letter via India Post.
- In the letter, the applicant pitched a concept to enhance Swiggy's user experience.
- Although there were no openings, the executive expressed interest in reviewing the concept.
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Yourstory
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Ola Electric vehicle registrations up 74% at 41,605 units in Oct
- Ola Electric Mobility Ltd reported a 74% rise in vehicle registrations at 41,605 units in October 2024 compared to the same month last year.
- The company sold over 50,000 units in October 2024.
- The company aims to double its company-owned service network to 1,000 centres by December 2024 and onboard 10,000 partners across sales and service by the end of 2025.
- Ola Electric has added more service centres, hired over 500 service technicians, and onboarded Ernst & Young for service transformation.
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VIE Stories
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PopVax Raises $1.15 Mn in Funding from Bill and Melinda Gates Foundation
- PopVax, an Indian biotech company, has secured $1.15 million in funding from the Bill and Melinda Gates Foundation.
- The funding will support PopVax's research in developing lipid-polymer delivery formulations for thermostable mRNA vaccines.
- This project aims to create stable vaccine formulations that can be stored at normal refrigerator temperatures, enabling rapid distribution in developing countries.
- PopVax, founded in 2021, employs 70 people and is focused on developing novel mRNA vaccines and therapeutics.
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Medium
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How OYO Transformed the Hospitality Industry and Created a Global Empire
- OYO was founded in 2013 by Ritesh Agarwal to address issues in India's budget hotel sector.
- OYO focused on standardizing rooms, services, and rates to provide affordable stays.
- Through a customer-centric approach and technology-driven solutions, OYO expanded globally.
- Despite facing setbacks, OYO adapted and recovered, becoming a leading technology-driven hospitality company.
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Yourstory
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Amazon profit soars 55% in Q3 driven by cloud growth
- Amazon reported a 55.2% increase in profit for Q3 driven by robust growth in its cloud computing business.
- Amazon Web Services (AWS) had an operating income of $10.4 billion in Q3, contributing significantly to the company's bottom line.
- AWS now stands at a $110 billion annualized run rate and has experienced significant growth in the last four quarters.
- Amazon's net sales rose 11% YoY to $158.9 billion, with AWS segment sales increasing 19% YoY to $27.5 billion.
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Startup Pedia
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Rapido Charges CEO ₹1,000 for 21 km Ride: ‘Fare shown was ₹350’
- A Chennai-based CEO, Ashok Raj Rajendran, was charged nearly triple the listed fare for a 21-kilometer ride by a Rapido driver.
- Despite the app showing a fare of ₹350, the driver demanded ₹1,000 for the journey.
- Rajendran contacted Rapido's support team, but they closed the chat without addressing his concerns.
- Rapido's support team later responded, took strict action against the driver, and refunded the price difference to Rajendran's wallet.
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Medium
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What are Startup Accelerators?
- Startup accelerators are fixed-term programs designed to drive rapid growth and success for early-stage companies.
- They typically last 3–6 months and provide seed investment, mentorship, networking opportunities, and educational resources.
- Accelerators are highly selective, work intensively with startups, and focus on early-stage companies.
- There are different types of accelerators, including corporate accelerators, sector-specific accelerators, university accelerators, social impact accelerators, and virtual accelerators.
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Economic Times
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ADDA to invest Rs 15 crore on India biz expansion to meet demand for society management software
- Startup ADDA plans to invest Rs 15 crore for expansion in India.
- ADDA provides software solutions for the management of housing societies.
- The company aims to grow its revenue from India by 20-25%.
- ADDA has clients in over 10 countries, including India, the US, and Singapore.
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Startup Pedia
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Bengaluru CEO Reveals That Dating Life Is Tough for Founders
- A Bengaluru-based CEO recently shared a post on LinkedIn about how dating life can be tough for a startup founder.
- Divyanshu Shekhar, the CEO, mentioned that dates often turn into business pitches rather than discussions about feelings.
- Netizens supported his views, sharing their own experiences about balancing startups and romance.
- Some users suggested the need for a special dating app for entrepreneurs who can understand and support each other.
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Siliconangle
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Insider raises $500M in funding for its personalized marketing platform
- Insider, a personalized marketing platform startup based in Istanbul, has raised $500 million in a late-stage funding round led by General Atlantic.
- Insider offers a cloud platform that enables companies to customize their marketing campaigns based on buyer preferences, using a built-in customer data platform (CDP).
- The platform utilizes machine learning features called Sirius AI to automate tasks and optimize promotion delivery, saving time for marketers.
- Insider's platform is used by over 1,500 companies, including major brands like Nike and Samsung. The funding will be used for market expansion, hiring, and AI advancements.
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Medium
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Visualizing Algorithms: A Fun Way to Learn Programming
- Algorithm visualization tools are online platforms that show you how algorithms work in a visual and interactive way.
- Watching animations can be more enjoyable than reading a textbook and adds excitement to learning.
- Many tools let you change the input data and immediately see the results, reinforcing what you've learned.
- Visualizing algorithms can help find and fix errors in your own code when trying to implement an algorithm.
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Yourstory
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Google's project Jarvis: The future of AI assistance
- Google's Project Jarvis is an innovative AI initiative that aims to revolutionize the way we interact with technology.
- Jarvis is designed to autonomously navigate web browsers, make decisions, and perform tasks on behalf of the user.
- The AI's potential to create a seamless user experience and automate monotonous work is highly anticipated.
- Project Jarvis is expected to launch at the end of this year, coinciding with the release of Google's Gemini 2.0.
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