RingCentral to double its India headcount by 2024

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July 24, 2023

RingCentral, Inc., a leading provider of AI-powered global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced the opening of its inaugural office in Bengaluru.

This significant milestone comes right after RingCentral announced that it had received key regulatory verifications from the Telecom Regulatory Authority of India (TRAI) and the Department of Telecommunications (DOT) to operate in India, making it the first global cloud provider to offer fully compliant cloud phone services in India.

India is a top strategic priority for RingCentral because it is the world’s major economy with the fastest growth rate. RingCentral is committed to investing in the industry’s talented workforce and promoting innovation. With plans to rapidly double its workforce over the next year, RingCentral currently has over 200 employees working remotely from various locations in India. RingCentral’s commitment to providing top-notch enterprise cloud communications services will be demonstrated by this expansion, focusing on multiple markets across India.

“Opening our first office in India’s silicon hub is a significant milestone as we look to establish RingCentral as a technology workplace destination for engineers and product leaders,” said Sathesh Murthy, Managing Director and Engineering Head of RingCentral India.

“There is a tremendous opportunity to help global organizations streamline their business communications with RingCentral’s robust and reliable solutions as they turn to India for growth and technology development. We believe the deep Indian talent pool can help us further innovate and take advantage of these opportunities. As we lay the foundation to provide AI-powered global communications solutions for Indian enterprises, we will continue to invest in people, focusing on innovative approaches to support learning, digital skills development, and training opportunities for talent in India,” Murthy added.

With operations in over 45 countries and 18 languages, RingCentral offers multinational enterprises the flexibility and global reach they need. Launching the new office in India will enable seamless service deployment for international companies, establish RingCentral for business operations expansion in India, and generate many employment opportunities there.

“Our goal is to grow and scale India as an engineering hub and center of excellence,” said Dan Deklich, Chief Development Officer at RingCentral. “We’re committed to delivering the best-in-class communications solutions multinational organizations need to drive better business outcomes, as well as providing a collaborative environment for our employees to engage and thrive. We want RingCentral India to be a great place to work, and opening our first office is a step in that direction.”

Ethereal Machines bags $7.3mn funding from Surge, others

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July 24, 2023

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Ethereal Machines, maker of multi-axis Computer Numerical Control (CNC) machines, on Monday said it had raised $7.3 million in a funding round from various investors, including Peak XV’s Surge and Blume Ventures.

Celesta Capital partner Ganapathy Subramaniam, former Blackstone India head Mathew Cyriac, and executive chairman of Cadence Design Systems Lip-Bu Tan, along with Finvolve, 9Unicorns, Venture Catalysts and T2D3 Capital also participated in the round, as per a statement.

Motion in four or more directions is possible when using a multi-axis machining machine with Computer Numerical Control (CNC). This helps manufacture the precision parts used in the aerospace, defense, automotive, and healthcare sectors.

CNC machines are typically expensive for industrial applications and call for top-notch engineering. According to Ethereal Machines, its proprietary technology enables manufacturers to achieve precision engineering components at scale, more rapidly and affordably.

“On average, Ethereal’s manufacturing solutions reduce costs for their customers by 30% and production lead times by 40%. Ethereal’s first factory is based out of Bangalore, India. These factories will be a one-stop solution for manufacturers. from their design to prototype to production stages,” the statement added.

“The new funds will enable us to scale our operations and cater to more high-end engineering applications locally and internationally,” Kaushik Mudda, co-founder of Ethereal Machines, said in the statement. The company was founded in 2014 by Mudda and Navin Jain.

Startups to get airfare support for export promotion

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July 24, 2023

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India’s exports are declining, which has prompted the government to ease compliance norms for existing exporters while introducing incentives for startups and new exporters.

Startups and new exporters are now eligible for airfare reimbursement under the Market Access Initiatives (MAI) Scheme, and the incentive ceiling for existing exporters has been increased by 20%.

India’s goods exports shrank the most in three years, at 22% on-year, in June to $32.97 billion. Under the scheme, financial assistance is provided for export promotion activities.

New exporters and startups did not previously receive these incentives, but now those with an annual domestic market turnover of Rs. 50 lakh will be given some assistance.

When exporters host foreign buyers in reverse buyer-seller meets in India, they will also benefit from higher airfare reimbursements.

“Incentives are important as mega trade fairs are being thought of, and there is a need to scale up our exhibitions and invite foreign companies to exhibit here,” said an official.

To achieve a 12% growth in good exports by 2030, India plans to host massive trade fairs for food, textiles, and auto components, similar to Messe Frankfurt, Gulf Food, and Canton Fair.

“The coverage of new entrepreneurs with nil exports for airfare support under the scheme is well conceived and pragmatic to encourage startups to enter into the exports field, particularly as we are looking towards a $1 trillion exports by 2030,” said Ajay Sahai, director general, Federation of Indian Export Organisations (FIEO).

Benefits under the MAI scheme are availed through activities organized by the government, states, export promotion councils and commodity boards.

Dharampal Satyapal Group acquires Viceroy Bangalore Hotels

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July 22, 2023

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Diversified Dharampal Satyapal Group said it had acquired Viceroy Bangalore Hotels Pvt Ltd for an undisclosed sum following a bidding process. Diversified Dharampal Satyapal Group said it had acquired Viceroy Bangalore Hotels Pvt Ltd for an undisclosed sum following a bidding process.

The Renaissance Bengaluru, owned by Viceroy Hotels and operated by Marriott, has 275 rooms and is located on 1.8 acres of prime land. It added that this hotel was a tempting addition to the hospitality portfolio of DS Group due to its strategic location in the Central Business District (CBD).

The group stated that it is now actively developing plans to enhance the hotel’s appeal.

“With this acquisition, the DS Group expands its hospitality footprint and reinforces its continued commitment to the hospitality business,” DS Group Vice Chairman Rajiv Kumar said.

DS Group’s hospitality portfolio comprises brands such as The Manu Maharani in Nainital and Namah in Jim Corbett National Park.

Fabindia collaborates with Dolomite Restaurants to launch Jamie Oliver’s cafe across India

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July 21, 2023

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Fabindia, a homegrown lifestyle brand, and Dolomite Restaurants, the all-India franchisee for Jamie Oliver‘s restaurants, announced a strategic partnership to open Jamie Oliver’s branded cafes at many Fabindia Experience Centres across the country.

The Dolomite brand will open in 2023 at locations in Delhi, Gurgaon, Noida, Mumbai, Pune, Bengaluru, Kolkata, Chandigarh, Jaipur, and Amritsar. The cafes will serve an all-day menu based on the Jamie Oliver ethos of fresh, carefully sourced food served with love.

Speaking about this partnership, Rajeshwari Srinivasan, chief executive officer of Fabindia, said, “We have always been dedicated to serving a better experience and offerings to our customers, and this collaboration with Jamie’s one more step in this direction.”

Talking about the partnership, Jasper Reid, chief executive officer of Dolomite, said, “We are delighted to partner with Fabindia and to have the privilege of serving many more customers in many more places and will work our socks off to fulfil the mission of bringing fresh, good, healthy and authentic food to every corner of this magnificent country”.

Ajay Kapoor, president- retail of Fabindia, said, “We are super excited to see how this partnership flourishes. This association is based on serving food made from pure, ethically sourced ingredients and is strongly aligned with our principles.”

Jamie’s commitment towards a balanced life comes through in each of their recipes, with health, nutrition and taste given equal importance. Fabindia’s mission, too, has always been about maintaining a balance between traditions and contemporary choices,” Kapoor added.

Ed Loftus, group director, Jamie Oliver Restaurant Group, added, “We are hugely excited to be working with Fabindia and Dolomite to continue to expand our offering in India.

Industrial robotics startup Ati Motors secures $10.85mn funding from True Ventures, others

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July 21, 2023

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Ati Motors, a maker of autonomous industrial robots, announced the close of its new funding round of $10.85 million. True Ventures led the Series A round.

New investor Ventures Partners joined with existing investors Blume Ventures, Exfinity Ventures, and MFV Partners.

The latest funding will help Ati Motors implement its plans to expand into markets in the United States, South East Asia, Japan, and Europe while looking into opportunities across the pharmaceuticals, chemicals, maritime, and injection moulding sectors.

The Bengaluru-based startup will also continue to invest in R&D to launch new capabilities and products in the market.

According to co-founder and CEO Saurabh Chandra, the company’s robots—autonomous industrial vehicles deployed in fully functional warehouses and factories—have been deployed in over 30 factories. The company’s clients include Bosch, TVS, CEAT and Hyundai.

Ati Motors’ main product, the Sherpa Tug, hitches to available trolleys at factories and can pull multiple trolleys indoors and outdoors. The waterproof product can take a payload of up to 1,000 kg.

The company’s robots combine artificial intelligence, computer vision and hardware to perform complex tasks in dynamic environments on factory floors. Although warehousing and logistics are among the applications for its robots, the company has focused its product market fit with factories in the automotive, tyre, and electrical industries.

“We are pleased to back Saurabh and his team at Ati. The team’s ability to design autonomous robots that operate in demanding manufacturing environments is a testament to the availability of multidisciplinary skills in the Indian startup ecosystem,” Parag Dhol, partner at Athera Ventures, said.

Ati Motors raised $3.5 million in a pre-series A funding round led by Blume Ventures, Exfinity Venture Partners, and MFV Partners in 2021. The company has also received seed funding from Village Global, an early-stage fund based in California backed by Bill Gates, Mark Zuckerberg, and Jeff Bezos, among others.

Physics Wallah (PW) to improve Customer Reachability and Experience Via MoEngage

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July 20, 2023

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MoEngage has been onboarded by Physics Wallah, one of India’s top online Ed-tech platforms, democratizing education at scale to connect with potential and existing students across multiple channels to provide a seamless experience.

Students in all test prep categories can access an affordable and comprehensive learning experience through Physics Wallah. The main objective of implementing MoEngage is to enhance the student engagement experience.

This latest achievement adds to the string of successful partnerships that MoEngage has built with top educational institutions over the past few years. It also joins a growing list of 1200+ global businesses across 35 countries, including BigBasket, Flipkart, Domino’s, and Nestle, who trust MoEngage to provide a consistent experience at every touchpoint.

“The partnership with MoEngage will help us reach our students more effectively. The integration of the solution into our existing systems was seamless and fuss-free. Our mission is to become the most advanced, futuristic, and innovative Ed-tech platform in the country. We believe that our partnership with MoEngage will help us streamline the administrative process, teacher-parent-and-student communication and simplify curriculum planning”, added Sanket Narker, Head of Marketing.

“Physics Wallah is seeking to differentiate itself by investing in technology to enable personalization at scale. Our strong product vision and roadmap has made the MoEngage Customer Engagement Platform the preferred digital core technology to help them become future-ready,” said Raviteja Dodda, CEO MoEngage. “We are proud to be selected as the transformation partner by Physics Wallah and are committed to the success of their journey.”

“The adoption of Ed-tech platforms has skyrocketed since COVID-19. In India, the e-learning market size will be worth USD 12.5 billion by 2027. Service providers need to effectively reach their audience to tap into this growing market and acquire new customers. The MoEngage Customer Engagement Platform enables businesses like Physics Wallah to easily adopt state-of-art features and functionalities to connect with their customers on their preferred channels,” added Raviteja.

7 in 10 Indian job seekers looking for work flexibility than salary: Report

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July 20, 2023

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About 7 in 10 Indian job seekers are looking for flexibility compared to salary, which includes the ability to work from home, set their hours and take breaks as needed. In contrast, on the job hunt, a new report said.

According to the leading job portal Indeed, about 70% of Indian job seekers consider work modes like remote or hybrid work arrangements when evaluating job opportunities.

“It is imperative that we see the future of work as a journey and not as a destination. Streamlining processes, building aspirations and empathetic consideration can really empower jobseekers and unlock a diverse pool of talent. Hence, employers who want to attract and retain top talent need to be aware of these preferences and be willing to adapt,” said Sashi Kumar, Head of Sales, Indeed India.

The survey included 1,810 people, including 561 employers and 1,249 job seekers.

The report also showed that nearly 69% of Indian job seekers consider the job location’s proximity to their workplace, including the distance from the job and the job seeker’s home or current workplace.

The salary, benefits, health insurance, family leave policies, and other learning and development opportunities connected to the job are all factors considered by about 67% of job seekers.

The study also found that 63% of job seekers prefer to work in a hybrid environment, which allows them to work from home some days and from an office other days.

According to the report, job seekers frequently need more transparency and clarity regarding the role and the interview process.

Only 15% of job seekers claimed to hear back from recruiters within 10 to 15 business days, while 63% waited longer. About 48% of job seekers want to know the salary range from employers before applying for a position.

DigiBoxx introduces new cloud storage solution for enterprises, individuals

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July 20, 2023

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DigiBoxx, a cloud storage and digital file sharing service provider, launched a new data storage solution for corporates and individuals. Megh3 will provide customers with fast, simple, elastic storage solutions at their fingertips at attractive pricing, combining both simplicity and affordability, the domestic software as a service (SaaS) based digital storage platform said in a release.

According to the statement, Megh3 will be available at Rs 1,299 per month for storing up to 1TB of data.

Megh3 protects and retrieves data at any time from anywhere on any device, helping streamline workflows, unifying brand inventory across multiple touchpoints, and allowing teams to function effectively and in sync, the company said.

Arnab Mitra, CEO, DigiBoxx, said, “…we have put tremendous effort into adding new features, keeping in mind the myriad data storage requirements of customers. I am confident that Megh3 will be instrumental in bringing about organizational transformation as it affords both reliability and scalability.”

“In addition, with growing concerns over data ownership and digital IP, it is necessary to be more conscious about where your data is being stored. Our servers and data centres are based in India, ensuring the user’s digital assets are stored safely in the country.”

In India, Megh3 is powered by Hitachi through Hitachi Systems India.

“This revolutionary product sets a new standard for digital storage, offering unprecedented accessibility and top-notch security for all your data sharing needs across platforms,” said Anuj Gupta, Director & CEO – Hitachi Systems India Pvt Ltd.

Besides offering digital storage, asset management and backup solutions for individuals, gig workers, and government organizations, DigiBoxx clients include Chola MS, Enormous, HDFC Life, Jio, ProBurst and Schneider Electric.

Kore.ai introduces new channel partner program to strengthen global ecosystem

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July 19, 2023

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Kore.ai, the world’s leading enterprise conversational AI (CAI) platform and solutions company, has today announced a new partner program to bolster the support it provides to its indirect sales channel. The Kore.ai Channel Partner Program creates a new tier-based structure for channel partners and solution providers, commits significant investments for each partner, and offers additional resources. These investments cover go-to-market (GTM), enablement, and marketing support.

According to Gartner, the market for CAI solutions is expected to reach $82 billion in spending by 2028, with a growth rate of 55% year over year. By building a strong, extensive, and diverse partnership ecosystem on a global scale, including technology partners, global system integrators, regional system integrators, resellers, solution providers, and strategic partners, Kore.ai plans to leverage the growing demand for CAI solutions through its partner program.

The company, which currently has more than 100 partners, plans to strengthen its current network through joint offerings and streamlined support to drive accelerated growth and establish itself as a market leader in conversational AI.

Along with an app marketplace where technology players can publish and embed technology within the solutions from other vendors, Kore.ai will soon launch a new partner engagement portal to engage with and deliver success for their customers. Partners will have access to various commercial options that can be customized to meet their specific channel requirements.

As part of the program, channel partners and resellers have access to Kore.ai’s industry-leading, no-code platform, which enables rapid innovation and the deployment of solutions for a variety of industries, including financial services, retail, healthcare, and life sciences, as well as manufacturing, retail, managed services, and business process outsourcing (BPO) units. Additionally, they can explore opportunities for value-driven expansion while planning and managing joint GTM campaigns, co-marketing, public relations, pre-sales enablement, and customer support.

The new programme will categorize channel partners using a new, three-pronged structure (Platinum, Gold, and Silver), which aims to promote growth, reward partners for loyalty and sustained success, and define the level of support partners receive. Higher-tiered partners will receive additional benefits such as:

Participating in a product advisory committee
Kore.ai’s market development funds
Joint press releases and media campaigns
Deeper GTM support

“Kore.ai has always believed in being a partner-first company. The new framework we’ve built allows our partners to grow their business globally, innovate rapidly and deploy solutions for a wide range of use cases targeting customer experience, employee experience or agent engagement,” said Sahil Rekhi, Kore.ai Global Head – Partnerships. “We are connecting solutions to create a more powerful offering that’s greater than the sum of its individual parts, and targets the entire gamut of contact center automation and customer experience management. Through a comprehensive ecosystem of platform integrations, we are expanding our partner’s wallet share and enhancing the capabilities of various enterprise applications, communication tools, collaboration platforms, and customer experience solutions.”

With over 400 customers, Kore.ai automates billions of interactions annually through its CAI platform and solutions, and to date, it has saved global enterprise customers over $1 billion in costs. Currently, 200 million consumers and nearly 2 million business users rely on Kore.ai solutions to enhance employee and contact center agent and customer experiences, which impact business outcomes.

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