Sunday, June 21, 2026
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STG acquires cloud-based solution provider Eka Software 

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US-based equity firm STG announced its acquisition of Eka Software Solutions. It will merge Eka with its portfolio company, the Quor Group, to offer a comprehensive software suite. Eka, based in Bengaluru, specializes in commodities trade and risk management (CTRM) and supply chain solutions, particularly in soft agricultural and energy markets. Meanwhile, Quor focuses on CTRM offerings within the metals ecosystem.

“The combination of Eka and Quor is a material step forward for the CTRM industry, providing a broad software suite that addresses a spectrum of customer needs across asset classes globally,” the company said. 

“We have been extremely impressed by the breadth and depth of the products that make up the Eka platform. Their CTRM / ETRM and supply chain products have consistently delivered for their impressive customer base” said William Chisholm, Managing Partner of STG. 

“We are committed to supporting Quor and Eka through further investments in innovation with the ultimate goal of continuing to provide exceptional value to their clients,” added Ishan Manaktala, Operating Partner at STG.

Manav Garg, the founder and CEO of Eka, will retain a crucial role as a Board Advisor in steering the vision and strategic direction of the merged company. His industry expertise and leadership will be instrumental as Quor moves forward into its next expansion phase.

Manav comments, “The merger could not happen at a more opportune time – we have seen increased volatility across asset classes, greater desire of customers to hedge their risk, and substantial supply chain disruption, all of which leaves the market yearning for solutions from Eka and Quor.”

Steve Hughes, CEO of Quor, commented on the strategic synergies, stating, “I believe joining forces with Eka is a game-changer for us and our customers. I am keen to partner with Manav and his decades of knowledge to drive the CTRM industry forward into a new era of growth and success.”

Jefferies LLC served as the financial advisor, and DLA acted as the legal advisor to STG during the acquisition process. Additionally, Tree Line Capital Partners offered debt financing to facilitate the acquisition.

The Jain Group, a Kolkata-based real estate developer, partners with Sarovar Hotels

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The Jain Group, a significant player in the hospitality sector, revealed its ambitious expansion plans. Presently, the group operates 120 hotels but plans to boost this figure to 150, including ventures abroad. The expansion strategy prioritizes acquiring properties via management contracts, underscoring the group’s dedication to strategic partnerships and efficient operations.

Speaking on the occasion, Shrayans Jain, vice-chairman of Jain Group, expressed his vision for the future. He stated, “After the successful launch of Holiday Inn Kolkata Airport, we are thrilled to unveil our second hotel in New Town, Calcutta. This marks another significant milestone in our journey. Looking ahead to Vision 2030, our goal is to offer a diverse portfolio of 1,000 hotel rooms across Bengal, catering to the upscale mid-market and luxury segments.”

Partnering with Sarovar Hotels, a prominent player in the hospitality sector, bolsters the Jain Group’s standing in the industry and reinforces its dedication to providing outstanding guest experiences. Through this collaboration, the group seeks to expand its footprint in vital markets and capitalize on emerging prospects.

Rishi Jain, managing director of Jain Group, highlighted the group’s substantial investment plans. He stated, “By 2030, we envisage investing INR 500 crore in our hospitality business, reaffirming our long-term commitment to the sector. This investment will not only fuel our expansion initiatives but also enable us to enhance infrastructure, innovate service offerings, and uphold our unwavering dedication to excellence.”

The expansion efforts align with the Jain Group’s overarching mission to redefine hospitality standards, drive economic growth, and contribute to developing tourism infrastructure in Bengal and beyond.

Livspace says India business becomes ‘cash flow positive’ on robust revenue growth 

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Livspace, a home renovation platform, has achieved “cash-flow positive” status in its Indian business due to significant revenue growth, according to a top company official.

Livspace anticipates a 30% increase in revenue for the 2023-24 fiscal year, compared to around Rs 1,100 crore in the previous fiscal year. Its India business constitutes 80-85% of its overall turnover.

During the period under review, the company’s EBITDA losses decreased from 96.86 million Singapore dollars to 95.35 million Singapore dollars.

“Our revenue has grown 50 per cent CAGR (compounded annual growth rate) in the past two fiscal years. We have become cash flow positive from October-December quarter of 2023-24 in India business, which is 80-85 per cent of our total revenue,” Livspace, co-founder Ramakant Sharma told PTI.

Livspace Chief Strategy Officer Ankit Shah mentioned that the revenue for the last fiscal year has not been finalized, but it is expected to be approximately 30% higher in 2023-24.

He emphasized that the company is no longer burning cash and is generating sufficient cash flow to expand its business organically.

“We have around USD 100 million cash in our balance sheet,” he said, adding that the fund will be utilized for expansion.   

“Business expansion, investment in branding and experience centres, and improving the supply chain have helped the company achieve high growth in the last two fiscal years,” he said.

Livspace actively seeks M&A opportunities to expedite growth and strengthen its market position.

Leveraging its proprietary technology, Livspace offers a comprehensive renovation solution for homeowners, covering everything from design to managed last-mile fulfillment for all rooms in a home. Currently operating in over 50 cities in India, the company aims to expand its presence to 100-150 cities within the next 18 months.

Livspace has secured approximately USD 450 million in capital from investors, including KKR, Ingka Group Investments (a part of the largest IKEA retailer Ingka Group), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group’s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures, and UC-RNT Fund.

Atmosphere Core unveils 10th resort in India

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Atmosphere Core, a prominent player in the hospitality industry, has inked a hotel management deal with JPR Bhumi Developers, owner of Avongrove Tea Estate, to craft a luxury resort in Sukiapokhri, situated in the Darjeeling Hills of West Bengal. Avongrove Tea Gardens by Atmosphere Mirik Darjeeling West Bengal is set to debut in Q3 of 2026. This collaboration aligns with Atmosphere Core’s aim to reach 25 properties in India by 2025, and the resort marks the company’s second venture in the Darjeeling district of West Bengal.

Travellers can expect 70 lavish suites and villas, and relish an immersive culinary experience at an all-day diner featuring alfresco-style service, a specialty restaurant, and a classic library bar. Nestled at an altitude exceeding 5000 feet, it provides an ideal backdrop for wellness and spa activities. Furthermore, Atmosphere Core will introduce a nature-inspired serene spa and wellness center, courtesy of its acclaimed spa brand, ‘Ele|Na,’ to the resort.

Ideal for leisure travelers in search of a serene getaway, this luxurious destination resort also serves as an excellent venue for meetings, private celebrations, and weddings. Boasting 3,000 square feet of indoor event space and a variety of outdoor venues, it offers ample opportunities for memorable gatherings and events.

Established in 1889, the Avongrove Tea Estate spans 782 acres of verdant landscape amidst the Himalayan slopes. Situated just 15 kilometers from Mirik Lake and a mere one-and-a-half-hour drive from Bagdogra International Airport, the estate boasts a strategic and picturesque location. The resort will be developed on six acres within the Avongrove Tea Estate, offering a sweeping 360-degree view of the tea garden. The architecturally harmonious villas will be carefully nestled into the Himalayan slopes, valleys, and forests, providing guests with a secluded ambiance and breathtaking views of the surrounding natural beauty.

Souvagya Mohapatra, Managing Director of Atmosphere Core—India, Nepal, Sri Lanka, and Bhutan, shared his enthusiasm, said, “Renowned as the ‘Queen of the Hills’, the emerald slopes of the Darjeeling Hills have always captivated travellers with their timeless beauty. I am delighted to announce our second project in North Bengal in the region’s promising Darjeeling district, Avongrove Tea Gardens by Atmosphere, which is set to become a highly coveted destination.”

Jitendra Kumar Mahto and Rinku Kumari Mahto, Partners of JPR Bhumi Developers, expressed their enthusiasm about partnering with Atmosphere Core for a robust and mutually advantageous business venture. Recognizing Atmosphere Core as a distinguished brand, they are confident that the collaboration will transform Avongrove Tea Estate into a world-class resort offering exceptional services and experiences.

Empowering students: Exclusive insights on international education from American Colleges President

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Mr Patriek Karayil, President of American Colleges

International studies open doors to diverse opportunities for students worldwide, with Canada and the USA standing as prominent destinations. As students navigate the complexities of applying to courses in these countries, understanding recent policy changes and accessing reliable guidance become paramount. Join us as we explore the evolving landscape of international education, with insights from Mr. Patriek Karayil, President of American Colleges, shedding light on essential considerations and empowering students to make informed choices.

As policy changes in Canada often affect students, how will American Colleges help students navigate these changes?

The Canadian government has introduced significant policy changes affecting international students. First, there is now a cap on international student applications, setting the number for 2024 at 606,250, which will likely reduce new student visa approvals by 35% compared to 2023, with allocations based on provincial populations. Second, students must now obtain a letter of attestation from their province, adding a new layer to the visa application process; however, certain groups like primary and secondary school students, master’s or doctoral degree students, and existing permit holders are exempt from this requirement. Third, changes to Post-Graduation Work Permit (PGWP) eligibility now exclude new enrollees in public-private partnership college programs from obtaining PGWPs, aiming to address concerns over educational quality. Lastly, eligibility criteria for open work permits for spouses of international students have been tightened and are now restricted primarily to those enrolled in graduate or professional degree programs.

These changes reflect Canada’s efforts to manage its international student population while maintaining educational standards. American Colleges can assist students in navigating the recent policy changes in Canada by offering updated guidance. We demystify the new cap on international student applications and the attestation letter requirement through detailed informational resources.

Additionally, we will provide specialized advice on maintaining eligibility for the Post-Graduation Work Permit, particularly in light of changes affecting students in public-private partnership programs. For those affected by the altered work permit rules for spouses, we explain the alternatives to manage the impact. By continuously monitoring and responding to policy updates, American Colleges ensures students are well-prepared and informed, making their transition smoother and their study abroad experience in Canada successful.

What are some challenges and opportunities students face when applying to colleges in the U.S.?

Students applying to U.S. colleges face challenges like navigating complex application processes, standardized testing requirements, financial aid options, and visa procedures. However, this also presents opportunities to explore a diverse range of universities, scholarship options, and potential career paths in the U.S. American Colleges empower students by providing free resources, workshops, and personalized counseling to address these challenges and maximize their chances of success in these five categories 

When applying to colleges in the United States, international students encounter various challenges and opportunities:

Navigating the Admission Process: The U.S. college admission process can be complex, involving standardized tests, essays, letters of recommendation, and sometimes interviews.

Financial Burden: The high cost of tuition, living expenses, and the currency exchange rate can pose significant financial challenges.

Research and Internship Opportunities: Many U.S. colleges provide outstanding research facilities and internship opportunities, allowing students to gain practical experience and build resumes.

Scholarships and Financial Aid: While competitive, scholarships and financial aid options are available specifically for international students.

Visa Regulations and Approval: Securing a student visa involves navigating U.S. immigration policies, which can be daunting and time-consuming

Your website talks about “masterclasses”. What are these masterclasses, and how can they help students?

Our masterclasses are in-depth, comprehensive courses on everything one needs to know to apply for a bachelor’s or Master’s in the U.S. and to get a U.S. student visa successfully. They cover various topics like navigating standardized tests, crafting compelling application essays, securing financial aid, and understanding visa procedures. These specialized sessions provide students with valuable insights and practical guidance beyond the social media resources that we put out.

American Colleges operates as a non-profit, prioritizing student needs over generating revenue. How do American Colleges generate revenue?

American Colleges don’t generate revenue. It is a cost center for the American Education Board and will likely continue as such for several years. We prioritize providing free, unbiased resources to empower students. While the core service remains free, we offer a limited number of specialized masterclasses at a small cost to ensure that students perceive value in these offerings. 

As the President of American Colleges, what significant achievements have American Colleges reached under your leadership?

One of our key achievements is establishing a strong collaboration with the American Education Board. This partnership provides invaluable insights into university policies and visa regulations, allowing us to offer students the most up-to-date and accurate guidance. Our commitment to unbiased advice and student success has positioned American Colleges as a trusted resource for international students.

Can you elaborate on the future vision of your organization? How do you see American Colleges evolving and continuing to empower students in the years to come?

American Colleges envisions itself at the forefront of international education guidance by:

  • Expanding its digital presence: Leveraging technology to create a robust online platform with interactive resources, webinars, and personalized guidance tools.
  • Enhancing content offerings: Developing a comprehensive library of educational content, including video lectures and downloadable guides, addressing the specific needs of international students throughout their academic journey.
  • Fostering global collaborations: Building strong partnerships with educational institutions worldwide to offer students a diverse range of study abroad options and cultural exchange experiences.
  • Maintaining affordability and accessibility: While some specialized resources may have minimal charges, the core principle of providing free, unbiased guidance will remain steadfast.

For more information about American Colleges and their services, visit their website: https://american-colleges.com

Chip startup SiMa raises $70mn to accelerate AI on cars and robots 

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Krishna Rangasayee, founder and CEO of SiMa.ai

SiMa.ai, a Silicon Valley chip startup, secured $70 million in funding led by Maverick Capital. The aim is to develop chips that accelerate AI applications in everyday consumer devices, ranging from cameras to cars.

Point72 and Jericho participated in the financing alongside existing backers Amplify Partners, Dell Technologies Capital, and Fidelity Management. With a total of $270 million raised so far, the San Jose firm designs processors to assist devices in understanding and processing data from the world, converting it into text, speech, or video content.

SiMa.ai is among the increasing number of startups striving to enhance hardware for an AI-centric future. Established in 2018, its board members include Moshe Gavrielov, director of Taiwan Semiconductor Manufacturing Co., and Lip‑Bu Tan, a board member of Intel Corp.

SiMa.ai’s chips are not aimed at AI training, which involves high-end processors like Nvidia Corp.’s chips teaching AI models tasks such as recognizing dogs or cats or developing services like ChatGPT. Instead, the startup concentrates on inference, where AI models on devices detect objects.

Krishna Rangasayee, founder and CEO of SiMa.ai, revealed that the startup has secured over 50 customers for its initial chip, primarily focused on computer vision. They are developing a second-generation chip slated for release in the first quarter of next year.

“We are now combining all this modality so that you could look at all of it. You could speak, you could touch, you could feel. And we’re kind of mimicking human capability,” he said about the startup’s new chip. 

Although Nvidia’s software has become the norm for AI development worldwide, Rangasayee mentioned that the tools on devices were open-source and utilized by over 10,000 different business customers globally. SiMa.ai’s products are compatible with various open standards, including Linux and OpenCL.

Presently, the company depends on TSMC to manufacture its chips. VentureTech Alliance, an investor in SiMa.ai, has a strategic partnership with the Taiwanese chipmaker.

“We really call ourselves a software company that builds their own silicon,” said Rangasayee.

Sports tech startup Hudle raises Rs 7-Cr in pre-Series A funding

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Hudle, a sports tech platform based in Delhi NCR, secured Rs 7 crore in a pre-Series A funding round. Inflection Point Ventures and Sky Impact Capital led the funding, joined by Survam Partners and Anay Ventures.

The funds will support Hudle’s expansion, product improvements, and marketing initiatives aimed at its growing sports community.

As a prominent sports tech platform, Hudle targets the burgeoning preventive healthcare sector. Indians are projected to spend USD 98 Billion annually on fitness and wellness by 2025. Hudle aims to encourage an active sports lifestyle for 100 million Indians, utilizing sports as a social and engaging avenue.

Hudle assists sports and fitness enthusiasts in discovering local venues, booking sports activities, and connecting with like-minded individuals to form communities. This fosters an active lifestyle with a social aspect, complementing traditional fitness activities and enhancing overall sports accessibility, as per the statement.

Backed by a dedicated founding team of Suhail Narain, Arjun Singh Verma, and Sonam Taneja, as well as brand ambassadors like Ajinkya Rahane, Hudle currently facilitates over 1 Lakh games per month across 1,300+ venues in 60 cities. Presently, Hudle boasts an active community of over 5 Lakh players.

Suhail Narain – Founder & CEO, Hudle says, “Our business has grown more than 6x over the last 2 years. With time, the confidence in our mission to enable Indians of all ages to play is only growing stronger. It is heartening to be supported by partners like IPV & Sky Impact Capital in this journey.”

Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “Hudle distinguishes itself through a deeply integrated omnichannel model, addressing challenges in both B2B and B2C markets. Their constant innovation through unique offerings like the SAAS solution for sports clubs and the Hudle All Access Pass for players is what stands out for us to continue supporting the Hudle team.”

Aakash Sachdev, Founder & Managing Partner, Sky Impact Capital says “We are excited to partner with Hudle and help them transform into the premiere destination for sports enthusiasts. We are impressed with Hudle’s ability to forge strategic alliances with marquee brands & well situated venues early in its life cycle. With over $98 Billion per annum expected to be spent on fitness & wellness by Indians, there is a huge opportunity for Hudle to build tailored sports tech products & services that solve pain points and provide a seamless offering to players and sports venues.

This partnership signifies our commitment to fostering innovation, active lifestyle and accessibility within sports, empowering enthusiasts at every level to unleash their full potential. Together, we aim to harness cutting-edge technology to democratize access to sport and inspire a new generation of active & healthy individuals across India.”

Ziyyara: Revolutionizing education with personalized online tutoring and AI integration

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Ms.Kavita Sharma, Co-founder & CEO of Ziyyara Edutech

Step into the forefront of educational innovation with Ziyyara Edutech, where Ms. Kavita Sharma, Co-founder & CEO, unveils a paradigm shift in online learning. As the world navigates unprecedented challenges in education, Ziyyara emerges as a beacon of transformation, offering personalized one-on-one tuition that transcends traditional boundaries. Join us as we delve into Ms. Sharma’s insights and explore how Ziyyara is redefining the future of education through technology, accessibility, and unwavering dedication to student success.

What sets Ziyyara apart from other e-learning platforms, and what changes has it brought about in the world of education?

Ziyyara distinguishes itself through its commitment to personalized, one-on-one online tuition classes. Unlike traditional e-learning platforms with group classes, Ziyyara tailors learning to individual needs and styles. This, along with flexible scheduling and curriculum support, addresses the limitations of conventional education. Ziyyara has revolutionized education by making it more accessible and learner-centric, breaking down geographical and economic barriers.

With expansion plans in mind, will Ziyyara explore additional revenue streams beyond one-on-one tutoring services?

Ziyyara transcends the boundaries of traditional tutoring, prioritizing the quality of education for all. This commitment extends to diverse learning needs, encompassing exam preparation for IELTS, language acquisition in various tongues, and specialized programs for business communication, i.e., Business English. Recognizing the unique potential of every child, Ziyyara is actively developing initiatives to empower students with unique abilities. 

How did your experiences aid in founding Ziyyara inside the EdTech industry? How have things gone so far on your journey?

Ziyyara’s passion for teaching and witnessing the limitations of traditional classrooms fueled the creation of Ziyyara. Recognizing the need for personalized learning and addressing geographical barriers motivated the development of a platform offering flexible and accessible education. Ziyyara’s growth from bootstrapping to profitability with a growing student base (over 5,000) reflects the success of our mission.

How does Ziyyara ensure quality and consistency for tutors across a potentially global network?

Ziyyara uses several strategies to guarantee the caliber of its tutors:

  • Selection process: Tutors undergo written and oral interviews to assess their subject matter expertise and teaching skills.
  • Matching: Ziyyara matches students with tutors based on qualifications, experience, and teaching styles.
  • Communication: Regular parent-tutor communication fosters transparency and allows for addressing any concerns.
  • Feedback: Student and parent feedback helps Ziyyara monitor tutor performance and make adjustments if needed.
  1. How does Ziyyara’s platform facilitate effective communication between students, tutors, and parents?

Ziyyara prioritizes communication through various features:

  • Real-time communication tools: The platform allows for interactive communication during online classes.
  • Quarterly parent-tutor meetings: These meetings ensure parents are informed about their child’s progress and can discuss any concerns with the tutor.
  • Dedicated coordinators: Coordinators provide additional support and act as a communication channel between all parties.

What distinguishes Ziyyara’s online tutoring services from conventional tuition?

Ziyyara goes beyond the limitations of traditional tutoring by offering a truly personalized educational experience. One-on-one classes ensure an in-depth focus on individual learning styles and needs. Students can schedule classes conveniently, while online delivery breaks down geographical barriers, making high-quality education accessible to a global audience. Ziyyara’s curriculum support is adaptable, catering to students who need help with specific questions or comprehensive subject coverage. Regular communication between parents, tutors, and students fosters transparency and a collaborative learning environment.

How do you see artificial intelligence impacting the future of online learning experiences at Ziyyara?

The company anticipates AI’s role in personalizing learning experiences. They might integrate AI for: 

Recognizing the potential of AI to personalize learning, Ziyyara is exploring its integration for several purposes. AI could analyze student performance to suggest customized learning paths, ensuring each student progresses on a tailored journey. Additionally, AI-powered platforms could dynamically adjust content difficulty and pace based on a student’s understanding, creating an adaptive learning experience. Furthermore, AI might provide students instant feedback on their work, accelerating their learning and progress.

Ziyyara emphasizes accessibility. Beyond online learning, are there any plans to explore additional access points, such as mobile apps?

Ziyyara is focusing on accessibility, suggesting an interest in expanding access points. Developing a mobile app would be a natural progression, allowing students to access learning materials and connect with tutors on the go. But for now, our ultimate goal is to provide students with one-on-one communication with utmost dedication. This would further enhance flexibility and cater to the different needs of students with varying learning preferences.

Cloud security startup Arch0 raises $1.25 million in funding 

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From left: Arch0 cofounders Tilak Thimmappa Nithin Jois

Arch0, a cloud security startup, secured $1.25 million in a pre-seed funding round led by Leo Capital, an early-stage venture capital firm. Other investors like Village Global, Indian Silicon Valley Capital, Appreciate Capital, and Supermorpheus participated in the round.

The startup plans to use the funding to expand its core team and further develop the use of AI in cloud security operations.

“While building cloud security solutions and helping clients in our previous company with implementing cloud security, we encountered multiple problems and complexities involved in it. Later, we decided that there needed to be an easier way to go and solve this, and that’s when we decided to start building Arch0,” said Nithin Jois, CEO, and cofounder of Arch0.

Established in 2022 by Jois and Tilak Thimmappa, Arch0 serves mid-sized enterprises and companies by overseeing cloud security operations. Focusing mainly on the US market, the startup generates most of its sales there and maintains a development team in Bangalore.

Although it currently provides its platform free of charge, Arch0 intends to adopt a subscription-based model in the future, possibly monthly or yearly.

“If you look at the cloud cybersecurity market, it was probably around $10 billion a few years back, and it is expected to double in another couple of years. With the emergence of newer technologies, the complexities of (cybersecurity) attacks are also increasing, and there is a growing demand for automation. Overall, we will see a lot of action in this space,” Dinesh Singh, a partner at Leo Capital, said. 

Leo Capital, recognized for investing in technology-centric startups, has funded around 55 startups across pre-seed, seed, and pre-Series A rounds. Their cheque sizes typically range from $0.5 million to $3 million.

AI company Luminance raises $40 million as contracts tech investment booms 

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Luminance, a legal technology company offering software to streamline contract processes for legal teams, announced raising $40 million in a new funding round. March Capital, a venture firm based in Santa Monica, led the investment.

National Grid Partners and London-based law firm Slaughter and May also participated in this Series B funding round for Luminance, headquartered in Cambridge, England.

Luminance asserts that its technology streamlines the creation, negotiation, and analysis of contracts and other legal documents. Legal tech developers have long concentrated on enhancing contract-related processes, with many incorporating AI

In 2024, other AI-focused contract companies like DraftWise, Spellbook, and RobinAI have also secured new funding.

Eleanor Lightbody, CEO of Luminance, emphasized the company’s uniqueness among competitors. Luminance developed its extensive language model, exposed to millions of legal contracts, setting it apart in the industry.

Initially, the eight-year-old company primarily marketed its technology to law firm customers, such as Clyde & Co., according to Lightbody. However, Luminance experienced a significant turning point two years ago when it also began catering to corporate customers. This expansion into corporate clientele has been a key driver of the company’s recent growth.

According to the company, Koch Industries, Hitachi, Liberty Mutual, and LG Chem are among its customers.

Founded in 2015, Luminance raised $10 million in a funding round in 2019, valuing the company at $100 million. However, the company has not disclosed the current valuation.

With approximately 150 employees, the company, according to Lightbody, plans to use the new funding to expand its presence in the United States.