Tech startup BlackBuck to get huge investments from India

Black Buck the logistics startup of Zinka Logistics Solution to get a fresh round of investment of about $27.4 million from its existing as well as new investors. According to MCS which is the Ministry of Corporate Affairs Black Buck is supposed to get an investment from a venture capitalist firm called Sequoia Capital India. Money is also collected from existing investor companies like Sands Capital and Accel Partners.

The funding of Black Buck is also being backed by the investment firm called Tiger Global who have their headquarters in the United States of America. The last time Back Buck raised investment was for Series C which was about one and a half years ago. After the latest round of investment Back Buck will be valued at around 190 million.

The investment raised by Black Buck was about 70 million from a company called Sands Capital from the United States. Clack Buck has also raised 50 crores from InnoVen Capital, which is a Singapore based company. Black Buck was first founded in the year 2015 and in just 3 years, it is estimated to be a $190-million-dollar company. Black Buck basically focuses on B2B logistics solutions and are basically involved in trucking and freight transportation. Right now Black Buck is spread over 1000 locations with over 2,00,000 trucks and 8,500 shippers under their network.

Some of the leading clients of this company are Jyothy Laboratories, Marico, Godrej, Britannia, Coke, Unilever, and Asian Paints. This is one of the very well funded companies right now, which has raised over $130 million from its investors around the world. Black Buck has been able to grow its business from Rs 81.25 crores to Rs 566.83 crores in just one year which is the biggest milestone for the company. With the growth of the company the expenditure has also increased drastically but even after that, the company was able to make a decent amount of profit from it.

SREI to form a partnership with Russia to increase business opportunities in the energy sector

SREI, the Kolkata based business, is going to work with Russia since Moscow and Delhi are entering into an energy partnership. There is a huge potential of trade between Russia and India and it is evaluated at around 7. 5 billion US dollars. SREI has been working on this idea and has been successfully been able to set up an innovation fund which is about $200 million.

This money is invested in the fields of 3D printing, artificial intelligence, and robotics. The invested deals are divided into a few parts and the first investment would be rolling out at the beginning of the year 2019.

SREI is also known for working with different exports from Russia so that all the equipment could be successfully delivered to India. SREI is basically helping out all the Russian companies which are looking for expansion in India. It is right now exploring a different kind of opportunities in different sectors like gas, oil, and power sector.

OYO Rooms India plans to expand to appoint 2020 employees by 2020

In a recent report, the new hotel company OYO stated its new plan of hiring 2020 people by the end of 2020. The group of hires and employees will range from technology experts to engineers. This announcement was made on the launch of the maiden tech conference of OYO.

This event also witnessed the launch of an amazing tech-based product whose main highlight was the fact that it eases the process of hotel bookings. These applications introduced by OYO is expected to automate customers, hotel partners as well as the employee touch points.

The founder and CEO of OYO, Mr. Ritest Agarwal expressed his pleasure and excitement after the successful inauguration of OYO’s very first tech conference. He further said that their current count of technology experts at OYO is 700 who are currently enabling over 10,000+ global partners to make them players in the niche of hospitality. He further stated that he has around more 2020 experts joining their team by 2020 and their plan is to include investments in technologies like that of artificial intelligence, IoT as well as machine learning.

Adding to the words of the CEO, the COO of the company, Anil Goel stated that with OYO now being on the forefront of the hospitality department, they are going to change the facet of the niche. They are currently on the lookout for more investment opportunities in the field of IoT, machine learning and AI.

OYO currently has over 20+ technological products which are catering to various business verticals. The company further emphasizes saying that with the AI-based algorithms, it helps in predicting the best-suited properties in the best price for their customers along with the collaboration of the bots helping them in assisting the customers a lot better.

Tech Mahindra and Israel Aerospace Industries officially form a partnership

ELTA Systems which is a subsidiary of IAI and Tech Mahindra have finally partnered up in order to provide cyber-related solutions along with services to the enterprise customers in India along with the government all across the world. IAI is known to be one of the globally recognized companies in the world as of today. It is known to develop commercial and military aerospace technologies. It is also a known fact that this is one of the leading cyber security companies in Israel. This particular partnership is basically aimed towards the delivering and designing of C-SOCs, forensic laboratories, and CERTs.

The whole procedure is going to be leveraging on orchestration tools along with the state of the art technology in art automation, AI along with Machine learning analytics. This partnership is also going to be offering training, consultation along with managed security services that are going to be based on national level procedures and methodologies which will in turn help in developing technologies for the future. These technologies are going to be of nature which is going to be able to meet up with the evolving challenges in the field of the cyber domain.

The Chief Executive Officer and Managing Director of Tech Mahindra Mr. CP Gurnani state that they are actually pretty excited for this partnership with the IAI. He believes that the strategic partnership is going to be the beginning of a brand new chapter which will help in tackling all of the cybersecurity threats which affects the people at a global level in this digital era. He further states that this following partnership is going to usher a new era. It will be acting as a multiplier force for the company’s robust cybersecurity expertise all across the world.

The company’s SOC capabilities along with the help of IAI’s broad spectrum of defense products and cyber intelligence will be actually helping the company in providing services in different and new areas including cyber protection, intelligence, integrated cyber resilience, monitoring etc.

The General Manager and VP of IAIs, Mr. Esti Peshin states that they are pretty much confident with regards to the company Mahindra’s cybersecurity professionals. They are of the belief that the experienced team is going to be able to fully equip the IAI technology with a certain sustainable competitive advantage. Through this process, they will be able to prevent cyber-attacks and will also be able to improve their ability to scale up rapidly having and controlling cutting-edge cybersecurity solutions.

The ELTA Systems is actually one of the leading companies in relation to defense electronics in Israel relating to the field of Surveillance, intelligence, HLS, ISTAR, self-defense and self-protection along with fire control applications.

Tech Mahindra all set to establish an Enterprise Business System in India

Tech Mahindra is going to establish and maintain an EBS which stands for Enterprise Business System. This will be done in order to automate and modernize the processes of the port for 5 ports that are owned by the central government for Rs 350 crore which will include taxes.

The Indian Ports Association issued a tender which was won by Tech Mahindra according to which they are going to establish a common shared platform on the behalf of Paradip Port Trust, Kolkata port trust, Chennai port trust, Deenadayal port trust which was formerly known as the Kandla Port and the Mumbai port. This was stated by the shipping ministry.

The EBS aims to improve India’s raking in enabling faster processing of requests in the delivery of services with an improved turnaround time, doing business, decrease in the manual documentation required, decrease in the overall transaction costs and time, faster turn round of vessels along with a less dwell time, increased efficiency in the port operations, easy and simplified procedures for entry of cargo and improve transparency across the systems.

The time period for the implementation and stabilization of the project is around 20 months. However, the maintenance and operations support is for about 5 years.

Tech Mahindra is known to enter into a partnership with SAP, Dell, CISCO, Envision, and RTCom in order to roll-out the EBS for the 5 port trusts.

EBS is going to compromise on the three main solution components which include standard ERP solutions, port operations solutions and auxiliary solutions. It is also going to integrate with the PCS which stands for Port Community System and also with other enterprise business standard processes, retained applications of ports and shared infrastructure on the cloud so that it can become the next generation system that can serve the purpose of the ports in the years to come.

The system is known to be run by simple, transparent, error-free business processes along with the use of the latest technologies in order to achieve business objectives and also to integrate prevalent devices and systems. The solution suggests a cafeteria approach for the ports. This will give them the right to choose the systems according to their need.

Other ports of the central government which includes the Jawaharlal Nehru port trust, Kamrajar port ltd, Visakhapatnam port trust, Cochin port trust, new Mangalore port trust, VO Chidambaram port trust, and Mormugao port trust are already known to run an ERP system which is established by them on their own.

An official stated that the number of staff will decrease as repetitive jobs will come to an end. The shipping ministry already has a frozen recruitment at Class 3 level for more than 10 years now.

The official also stated that the strength of the workers will reduce as there will be no more repetitive jobs. ERP is known to provide end-to-end solutions which will provide the all the departments with an integrated making data and information which will be readily available and thus, resulting in easy decision making.