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Economic Times
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Truecaller founders to transition to advisory roles; company appoints Rishit Jhunjhunwala as CEO
- Truecaller's cofounders Alan Mamedi and Nami Zarringhalam will transition to advisory roles.
- Rishit Jhunjhunwala has been appointed as the new CEO of Truecaller.
- Mamedi and Zarringhalam will remain as strategic advisors till June 30, 2025.
- Truecaller aims to double its user base in India by 2026.
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Yourstory
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1.6k
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Hosteller raises Rs 48 Cr in Series A round led by V3
- Backpacker hostel brand The Hosteller has raised Rs 48 crore in a Series A funding round.
- V3 Ventures led the equity round with Rs 32 crore, while Blacksoil provided an additional Rs 16 crore in venture debt.
- The investment will be used to strengthen the company's presence in cities like Rishikesh and Manali and expand into new destinations across India.
- The Hosteller aims to have 10,000 beds by March 2026 and capitalizing on the growing popularity of backpacker hostels among GenZ and millennial travelers.
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Yourstory
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1.7k
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KL Rahul-backed Boldfit raises Rs 110 Cr from Bessemer Venture
- Boldfit, a fitness brand, has raised Rs 110 crore in its series A round from Bessemer Venture Partners (BVP).
- The funds will be used for product innovation and brand expansion.
- Boldfit previously received a strategic investment from cricketer KL Rahul, who also serves as the brand ambassador.
- The company aims to achieve revenue of over Rs 500 crore by FY26.
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ISN
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3.2k
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Sweden-based Truecaller appoints India-born Rishit Jhunjhunwala as new CEO
- Sweden-based Truecaller has appointed Rishit Jhunjhunwala as its new CEO.
- Jhunjhunwala, currently serving as Chief Product Officer and Managing Director for India, will begin his role on January 9, 2025.
- Co-founders Alan Mamedi and Nami Zarringhalam will step down from operational roles, but remain as advisors until June 30, 2025.
- Jhunjhunwala, who has been with Truecaller since 2015, brings international expertise and local market insight to his new position.
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Inc42
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163
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Swiggy IPO Day 2: Issue Subscribed 25% So Far
- Swiggy's IPO received bids for 3.9 Cr shares against 16.01 Cr shares on offer, as of 1:30 PM on day 2.
- Reserved portion for employees oversubscribed at 1.04x, with bids for 7.77 Lakh shares against 7.5 Lakh shares set aside.
- Retail investors showed 0.76x subscription, bidding for 2.2 Cr shares against 2.89 Cr shares reserved.
- Non-institutional investors exhibited limited interest, subscribing to only 10% of the shares on offer.
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SiliconCanals
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0
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Few mid-career and older workers use AI at work — yet
- New research reveals that only 15% of mid-career and older workers in the U.S. and Europe use AI at work.
- Many routine duties that can be automated with AI are performed by early-career professionals.
- Hiring managers show a preference for younger candidates for AI-intensive roles.
- Despite this, older workers can leverage AI to their benefit and should include AI on their CVs.
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Yourstory
1w
347
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Startup news and updates: Daily roundup (November 7, 2024)
- Enlog, an AI-powered energy management and IoT startup, has secured Rs 1.75 crore in equity funding.
- The funding will be used to boost operations and accelerate growth in India's energy management sector.
- Pulse, an Agentic AI platform, has raised $1.4 million in a seed funding round led by Endiya Partners.
- The funding will focus on building a robust team and enhancing the platform's development.
- DaveAI has received a patent for its real-time adaptive interactive digital aisle system.
- The patented system enables real-time hyper-personalization for brands.
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ISN
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217
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Backpacker hostel chain The Hosteller raises Rs 48 crore in funding for nationwide expansion
- Homegrown backpacker hostel chain The Hosteller has raised Rs 48 crore in funding.
- The funding round was led by V3 Ventures and included participation from other investors.
- The Hosteller plans to use the capital to expand its presence across India.
- The startup aims to have 10,000 beds by March 2026, compared to the current 2,500 beds.
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Inc42
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101
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Freshworks To Cut 660 Jobs In Restructuring Exercise
- Nasdaq-listed SaaS major Freshworks is cutting 13% of its global workforce, affecting about 660 employees.
- The restructuring plan aims to streamline operations and increase operational efficiency.
- Freshworks expects to incur $11-13 Mn in restructuring costs in Q4 2024.
- The company is focusing on customer experience (CX) products, AI, and employee experience business (EX).
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Startupreporter
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221
Thapar Institute Of Engineering And Technology, Patiala- Convocation-2024
- The Thapar Institute of Engineering & Technology (TIET) in Patiala wrapped up its Convocation-2024, which took place from November 4 to November 6.
- The Convocation witnessed the esteemed presence of Shri S. Krishnan, IAS, Secretary of the Ministry of Electronics & Information Technology (MeitY), Government of India, as the Guest of Honour.
- A total of 2863 degrees were awarded to the students, which includes 2164 students from BE/BTech, 64 from BE-MBA, 123 from PhD, 141 from ME/MTech, 50 from M.Sc., 43 from MCA, 196 from MBA, 35 from MA (Psychology), 24 from BA/BBA/BSc and 23 from BA/BBA/BSc Hons.
- Mr. Rajeev Ranjan Vederah, Chairman of the Board of Governors, highlighted the institute’s significant strides, stating, 'Thapar University stands at the forefront of innovation and opportunity, with a remarkable placement record of nearly 90% and partnerships with industry leaders like NVIDIA.
- Professor Padmakumar Nair, Director of TIET congratulated the graduates and also presented the Annual Report, underscoring the institute’s key achievements over the year.
- At the convocation, 40 students were honoured with medals/awards for their exceptional performance, notable awards include President’s Medal and Professor V. Rajaraman Computer Science & Engineering Award
- TIET has recently partnered with NVIDIA with a MoU to establish the Thapar School of Advanced AI & Data Science (TSAAI), offering cutting-edge academic programs, research opportunities, and innovation projects, equipping students and faculty with vital AI knowledge and skills.
- Thapar Institute of Engineering & Technology (TIET) is one of India’s oldest and finest educational institutions; founded in 1956, it boasts a green campus spread over 250 acres.
- TIET offers undergraduate, postgraduate, and doctoral programs aligned with global academic standards across engineering, basic sciences, humanities, management, and liberal arts and sciences.
- TIET is ranked 29th among engineering institutions and 29th among all universities in India, according to the 2023 Rankings by the National Institutional Ranking Framework (NIRF). It is accredited by NAAC and NBA (as per Washington Accord).
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Startupreporter
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Duravit’s Bento Starck Box – Elegant Serenity
- Duravit and designer Philippe Starck have introduced the Bento Starck Box bathroom series, inspired by Japanese bento boxes.
- The washbasins offer practical storage areas, and the series includes toilets and bathtubs with a clear-cut design.
- Innovative materials like DuraCeram® and DuroCast UltraResist are used to create unconventional designs.
- Duravit India, a subsidiary of Duravit AG, is a leading premium bathroom brand known for its collaboration with architects and designers.
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TechCrunch
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200
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Glint Solar grabs $8M to help accelerate solar energy adoption across Europe
- Norwegian software-as-a-service (SaaS) startup Glint Solar has secured an $8m Series A funding to help energy giants and large developers plan and pre-design solar installations across Europe.
- Since its previous funding round, its customer base has grown tenfold and it has narrowed services to support planning of land-based solar installations.
- The software pulls in data from multiple sources to evaluate potential sites, with adaptable layout designs, yield estimates, as well as country-specific geographic information system (GIS) data, and topographic analysis.
- Glint Solar’s primary target are ground-based installations, which it has opted to streamline its sales approach for, however, it replaces the earlier dual product focus that included floating-solar installations.
- The startup is also very focused on software design to maximize accessibility to help remove friction from solar project approvals, making it very user-friendly.
- The platform’s cloud-based collaboration features allow teams to work on one problem in the same tool and share everything with landowners, the grid, and the municipality to speed up decision-making.
- The software can still be used for planning floating solar, but it has more demand for ground-based installations which are approximately 60% of the solar market, as compared to 20% big rooftops, and 20% residential.
- The Series A funding would help Glint Solar expand its sales team to target customers in countries including Italy and Spain, while expanding the platform to help customers site batteries that can be used to optimize renewable investments by storing energy.
- Glint’s service can help developers evaluate potential sites 10 times faster than traditional methods. But infrastructure investment, grid capacity and solar permitting are key to further accelerating rollouts.
- The Round is led by Smedvig Ventures, with additional investment from others.
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Inc42
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348
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Freshworks Board Approves Stock Buyback Worth $400 Mn
- Freshworks board of directors approves stock buyback programme worth $400 Mn of its outstanding Class A common stock.
- The buyback can be done through open market repurchases or private negotiations as per Securities Exchange Act of 1934.
- Freshworks demonstrates confidence in growth trajectory and commitment to enhancing shareholder value.
- Additionally, Freshworks reported a 21.4% YoY revenue growth in Q3 FY25, but also announced a 13% reduction in global workforce.
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SiliconCanals
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4
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Danish startup Cordulus raises €3M funding to provide accurate weather predictions using AI
- Aarhus-based startup Cordulus has raised €3M funding from Danish Agro and the Pajbjerg Foundation.
- The funding will be used to expand their AI-based weather solutions into new markets.
- Cordulus utilizes AI technology to predict weather with high accuracy, improving by 50% compared to traditional methods.
- The company gathers data from various sources, including satellite images and a network of over 4,000 weather stations.
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Eu-Startups
1w
314
Barcelona-based Acai Travel raises €3.7 million aiming to reinvent travel operations using AI
- Barcelona-based Acai Travel has raised €3.7 million in a Seed funding round led by Nauta, with support from DraperB1 and One Travel Ventures.
- Acai Travel aims to transform travel operations using artificial intelligence and address inefficiencies in the industry.
- The platform offers tools like AI Helpers, GDS Overlay, AI Translation, and Intelligent Routing to reduce costs and enhance customer service standards.
- The funding will support Acai Travel's mission to build a comprehensive operating system for travel agencies, doubling agent efficiency and improving the overall traveler experience.
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