Marut Drones plans to allocate funds towards several key initiatives, including the development of advanced agricultural drones tailored to customer needs, expanding its channel partner network and service centers into Tier II-III cities
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This round also saw notable investment from venture capital funds such as Mela Ventures, Speciale Invest, ideaForge, Samarthya Investment Advisors and also global IT magnate, Infosys who earlier last month disclosed its strategic investment in the company
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"Insider couldn't have become the success it did without their backing," Srinivasan remarked, pointing to Insider's eventual acquisition by Paytm in 2018
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The four-year-old startup, co-founded by Bala Iyer (CEO) and Lalit Kumar (CTO), uses the latest technologies in Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) to deploy solutions, primarily in the Financial Services sector
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Funds raised will be used for further investment in technology and new feature launches like embedded insurance, gen-AI led recommendation engine and a healthcare marketplace; prior to its Series-A round later this financial year
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As MobiKwik recently hit the profitability mark, Co-founder and CFO Upasana Taku reflects on the pivotal strategies that have shaped the company's trajectory. She reveals how MobiKwik carved out a competitive advantage against giants like Paytm and PhonePe, while also addressing the rationale behind the trimmed IPO issue size. Taku candidly discusses the growing regulatory scrutiny in fintech and paints a vivid picture of the trends poised to redefine the future of digital finance in India
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According to media reports, advertising and promotional costs saw a significant reduction, dropping by 46 per cent to Rs 107 crore. However, employee benefits expenses rose by 35 per cent, reaching Rs 53.5 crore
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Reuters noted that investment in AI and cloud technology has surged, with major tech players like Microsoft, Google, and Amazon contributing to a projected USD 79.2 billion in funding for AI in the U.S., Europe, and Israel by year-end, according to Accel data
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This follows a previous reduction by Vanguard last November, which brought Ola’s valuation below USD 2 billion, a significant dip for the ride-hailing company, once valued over USD 7 billion, as per media reports
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The funding will enhance Viraa Care’s live courses on infant and pediatric nutrition, offering parents expert guidance that emphasises fresh, nutrient-dense foods over heavily marketed processed baby products
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