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Glean Technologies Expands Operations to India, Unveils Bengaluru Office

By
Vanshika Goel
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Glean technologies

California-based artificial intelligence firm, Glean Technologies, has initiated its foray into the Indian market with the opening of its inaugural office in Bengaluru. Spanning across 26,000 square feet, the office serves as the pivotal center for the company’s operations in India, encompassing finance, sales, research and development, and business operations.

Founded in 2019 by Arvind Jain, Vishwanath T R, Tony Gentilcore, and Piyush Prahladka, Glean Technologies specializes in enterprise search and knowledge management solutions. The firm integrates company applications and databases, facilitating seamless data access and management across diverse platforms.

Arvind Jain, Founder and CEO of Glean Technologies, highlighted the company’s mission during a recent press briefing, stating, “Glean is an enterprise AI platform designed to harness the entirety of a company’s data. Similar to Google or ChatGPT, but tailored for internal company use, it empowers employees with instant access to proprietary knowledge.

With substantial backing from investors such as General Catalyst, Kleiner Perkins, Sequoia Capital, and Lightspeed Venture Partners, Glean Technologies has secured $350 million in funding, currently valuing the firm at over $2.2 billion. The company plans to bolster its workforce from 150 to 450 employees by next year, targeting recruitment from India’s premier technology institutions including the top five IITs.

Glean Technologies’ entry into India marks a significant milestone in its global expansion strategy, aiming to redefine enterprise AI solutions and reinforce its position as a leader in the industry.

ShemarooVerse Launches Innovative AI-Powered Gaming Experience with GMetri

By
Garima Bansal
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ShemarooVerse-GMetri

Shemaroo Entertainment has announced a pioneering partnership with GMetri, a leader in AI-powered immersive learning and game development, to expand ShemarooVerse into immersive AI gaming on the Web3 platform.

This collaboration introduces IP-based games that leverage Artificial Intelligence, allowing fans to immerse themselves in interactive experiences within the metaverse. These games are based on popular Bollywood films owned by Shemaroo Entertainment, including Jab We Met, Golmaal, Disco Dancer, Amar Akbar Anthony, and more, offering a novel way for fans to engage with their favorite movies and characters.

Arghya Chakravarty, COO of Shemaroo Entertainment, emphasized the importance of this collaboration, highlighting Shemaroo’s commitment to innovative entertainment. He stated that integrating AI-based gaming aims to provide a captivating experience for consumers. The partnership with GMetri marks a significant advancement in transforming how audiences interact with beloved movies, driving groundbreaking innovations in India’s immersive entertainment and gaming space.

Utsav Mathur, CEO of GMetri, expressed enthusiasm about the partnership, noting that bringing FruitSalad.ai technology to ShemarooVerse demonstrates how their AI-driven solution converts entertainment IP into engaging experiences. Leveraging their expertise in creating immersive 3D worlds enhances fan engagement while showcasing the versatility of their technology across sectors, from corporate learning to entertainment. This partnership underscores the adaptability and effectiveness of their platform in delivering compelling, personalized experiences at scale.

This collaboration underscores ShemarooVerse’s leadership in digital entertainment and highlights GMetri’s capability to deploy immersive, AI-generated content across diverse industries. As ShemarooVerse continues to evolve, this partnership promises to redefine fan engagement by deepening their connection with beloved characters and stories through innovative gaming experiences.

iVP Semi to Establish Fabless Chip Company in India

By
Garima Bansal
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Raja Manickam iVP Semi

Raja Manickam has launched iVP Semi, a fabless semiconductor startup aimed at bolstering Indian system companies through localized chip production. With $5 million secured in pre-Series A funding, iVP Semi plans to expand operations and establish a robust presence in India. The company will set up chip design centers in Chennai and Bangalore, alongside licensing product IP from Taiwan, Japan, and the US.

iVP Semi’s strategy includes setting up a 20,000 sq. ft. production test facility in Chennai in collaboration with the State Government of Tamil Nadu, slated to be fully operational by October 2024. This facility will support design-to-testing capabilities, focusing on sectors such as Renewables, EV, and Automotive industries. A second test facility in South India is also in the pipeline.

Raja Manickam, Founder & CEO of iVP Semi, highlighted the company’s mission to localize semiconductor chip production in India, enabling faster product development cycles and greater technological autonomy for Indian companies. This initiative aims to strengthen the semiconductor ecosystem locally, fostering innovation and addressing global challenges.

S. Krishnan, Secretary of Ministry of Electronics and Information Technology (MeitY), emphasized India’s potential in the semiconductor industry and congratulated iVP Semi on its efforts to bolster domestic manufacturing capacity. He underscored the government’s support in building a conducive ecosystem for semiconductor growth in India.

iVP Semi, headquartered in Chennai with global offices in Singapore, Taiwan, and the US, aims to achieve revenue targets of $70 million to $100 million within the next few years. The company’s focus on quality assurance and supply chain efficiency underscores its commitment to delivering high-performance semiconductor solutions tailored for Indian and global markets.

Italian Two-Wheeler EV Brand VLF Enters India with Manufacturing Hub in Kolhapur

By
Garima Bansal
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KAW-VLF

Italian electric two-wheeler brand VLF has announced its entry into the Indian market, with plans to establish a manufacturing hub in Kolhapur, Maharashtra. The company is collaborating with KAW Veloce Motors Pvt Ltd for manufacturing and distribution, leveraging the KAW Group’s extensive manufacturing experience spanning six decades. This strategic move aims to cater to a diverse demographic, from first-time buyers to seasoned riders, by launching VLF’s iconic electric scooter, Tennis, by the festive season this year.

VLF, founded by renowned designer Alessandro Tartarini in 1993, is known for its unique Italian heritage and design. The brand focuses on aspirational branding and premium riding experiences at affordable prices, positioning itself to make a significant impact on the Indian electric two-wheeler landscape. The company’s products, characterized by strong personality and distinctive design, aim to stand out in the rapidly growing electric mobility market.

To create awareness and generate interest among Indian consumers, VLF will roll out an extensive marketing campaign leading up to the official brand launch during the 2024 festive season. This campaign will include engaging marketing activities, roadshows, and participation in auto expos, firmly establishing VLF’s presence in India. Additionally, VLF plans to establish a robust dealer network across major Tier I and Tier II cities, aiming to have 15 dealerships operational by the end of 2024 and scaling up to 50 dealerships by the end of the financial year.

Tushar Shelke, Managing Director of KAW Veloce Motors Pvt Ltd, emphasized the company’s commitment to providing Indian consumers with a range of electric scooters that excel in design and performance. KAW Veloce Motors Pvt Ltd is committed to providing Indian consumers with a range of electric scooters that excel in design and performance. Each VLF product has its own unique design language, ensuring it stands out in the current market. The partnership between VLF and KAW Veloce Motors aims to offer stylish and affordable alternatives to traditional gasoline-powered designs, enhancing the electric mobility market in India.

Airbus Partners with Gati Shakti Vishwavidyalaya to Launch Aviation Engineering Course

By
Garima Bansal
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Airbus-GatiShakti

Airbus has signed an MoU with Vadodara-based Gati Shakti Vishwavidyalaya (GSV) to launch a BTech course in aviation engineering for underprivileged and meritorious students. This initiative, facilitated by Union Railway Minister Ashwini Vaishnaw, will provide full scholarships covering tuition and boarding fees worth Rs 2.5 lakh per annum for 40 students, with 33% of these scholarships reserved for women. The program aims to equip students with necessary skills and education under India’s new education policy, providing internship and mentorship opportunities through Airbus.

The partnership reflects Airbus’s long-standing collaboration with India, reinforcing their commitment to fostering a skilled workforce in the aerospace sector. The C295 Final Assembly Line in Vadodara, the first ‘Make in India’ aerospace program in the private sector, exemplifies this dedication. Additionally, Airbus will support GSV by setting up a Centre of Excellence, appointing a Guest Chair Professor, and offering various short-term executive programs. This collaboration is expected to significantly advance GSV’s vision of being an industry-driven, innovation-led university, setting a new standard for industry-academia partnerships in India.

Prominent Launch and Vision

The program launch event was attended by key dignitaries, including Union Ministers Ashwini Vaishnaw, Kinjarapu Ram Mohan Naidu, and Ravneet Singh, along with senior officials from the Railway Board and the Ministry of Civil Aviation. Airbus President and Managing Director for India and South Asia, Rémi Maillard, expressed optimism about the partnership’s impact on India’s aviation sector, emphasizing the importance of creating superior human resources, skilling, and cutting-edge research.

Impact on India’s Aviation Sector

Airbus’s support extends to the establishment of the Centre of Excellence at GSV and the deployment of technology solutions to enhance training and research programs. This initiative aligns with the Government of India’s ‘Skill India’ program, aiming to create a robust ecosystem for aerospace education and professional development. By integrating academic curricula with practical industrial experience, this partnership seeks to bridge the gap between academia and industry, fostering innovation and driving growth in the Indian aviation sector.

This partnership between Airbus and GSV is a significant step towards realizing the vision of a skilled and capable workforce, ready to meet the demands of India’s burgeoning aviation industry.

Hyundai Launches Comprehensive CSR Projects in Maharashtra

By
Garima Bansal
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Hyundai CSR

Hyundai Motor India Foundation (HMIF), the Corporate Social Responsibility arm of Hyundai Motor India Limited, has initiated three significant CSR projects in Maharashtra aimed at fostering health, sanitation, and art across the state. The launch event, held at The Bombay Art Society in Bandra, Mumbai, marked the inauguration of these transformative initiatives.

Underlining its commitment to sustainable development goals, HMIF has embarked on several impactful projects tailored to Maharashtra’s specific needs. These include the installation of 100 water RO systems in schools across Gadchiroli district to ensure access to safe drinking water. Additionally, the Sparsh Sanjeevani project introduces 5 Telemedicine Clinics and deploys 2 Mobile Medical Vans, enhancing healthcare accessibility in underserved communities.

Puneet Anand, AVP & Vertical Head – Corporate Affairs, Hyundai Motor India Ltd., emphasized the strategic importance of these initiatives in advancing societal well-being. He highlighted Hyundai’s global vision of ‘Progress for Humanity’ and reiterated their dedication to inclusive growth through sustained CSR efforts.

Gopala Krishnan CS, Chief Manufacturing Officer (CMO), Hyundai Motor India Ltd., underscored the collaborative nature of these projects, thanking the Maharashtra State Government for their support. He expressed optimism that these initiatives would catalyze positive change and significantly impact the lives of people across Maharashtra.

Hyundai also launched the third season of ‘Art for Hope,’ their flagship CSR program aimed at promoting art and cultural development in the region. This holistic approach reflects Hyundai’s commitment to creating a lasting and meaningful impact through responsible corporate citizenship.

The CSR initiatives by Hyundai in Maharashtra epitomize their ethos of corporate responsibility, aiming not only to address immediate needs but also to foster sustainable and equitable growth across the state.

CyberPeace Foundation and NCW Launch Digital Shakti 5.0 to Empower Women in Cyberspace

By
Garima Bansal
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Digital Shakti Campaign

CyberPeace Foundation, in collaboration with the National Commission for Women (NCW), has launched the fifth phase of its Digital Shakti Campaign, aimed at digitally empowering women and girls across India. This initiative marks a continuation of their efforts to enhance digital skills, cybersecurity awareness, and knowledge of emerging technologies among women.

The Digital Shakti 5.0 launch event was graced by key dignitaries including Smt Rekha Sharma, Chairperson of NCW; Shri Sanjay Seth, Member of Parliament from Ranchi, Jharkhand; and Major Vineet Kumar, Founder and Global President of CyberPeace Foundation. The program, which began in 2018 in collaboration with CPF, has successfully trained over 6 lakh women in digital safety so far, with the aim to reach 10 lakh women in this phase.

Smt Rekha Sharma highlighted the program’s alignment with the vision of Digital India, emphasizing the need to bridge the gender gap in technology fields. She acknowledged the significant strides made by Digital Shakti in empowering women in the digital realm since its inception.

Shri S. P. Singh Bhaghel, Minister of State of Fisheries, Animal Husbandry and Dairying, commended the initiative for its impact in empowering women across India. He underscored the importance of such programs in overcoming societal challenges and promoting gender equality.

The event also featured panel discussions focusing on empowering women through cyber skills and addressing the psychological impact of cyber threats. Experts from industry, government, and academia deliberated on strategies to enhance cyber wellness and mental health among women, ensuring their active participation in the digital economy.

Digital Shakti 5.0 aims to continue its mission of building resilience among women in the cyber world, leveraging partnerships with NGOs, industry professionals, and community leaders. The program provides comprehensive training, equipping women with the skills needed to navigate digital spaces safely and effectively.

This initiative underscores CyberPeace Foundation and NCW’s commitment to creating a safer and more inclusive digital environment for women, paving the way for their greater participation and leadership in the digital era.

Anthropic Launches AI Benchmark Funding Program with Amazon Support

By
Garima Bansal
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Anthropic founders

Anthropic, a California-based startup founded by former OpenAI members Daniela and Dario Amodei, has announced a new initiative to fund the development of benchmarks for evaluating AI models, including its own generative AI model, Claude. The program, backed by $6 billion in funding from Amazon, aims to enhance AI model performance and safety.

The initiative addresses the growing need for robust AI benchmarks, as existing ones often fail to capture the full range of AI capabilities and impacts. Anthropic’s program will focus on creating evaluations that measure advanced AI capabilities, safety, infrastructure requirements, and climate impact. The company has invited third parties to apply for funding to develop these benchmarks, with applications being reviewed on a rolling basis.

Anthropic’s program stands out by aiming to assess AI models’ ability to address security risks, societal impacts, and infrastructure needs. This includes evaluating AI’s potential to launch cyberattacks, manipulate through deepfakes, and other security threats. The program also seeks to create an early warning system for governments to flag national security issues related to AI.

The program will support research into AI benchmarks, focusing on AI’s potential in scientific studies, multilingual capabilities, and reducing biases related to race, gender, and religion. Additionally, it aims to develop tools to auto-censor toxic outputs from AI models.

Anthropic’s initiative could be significant for AI startups, providing them with funding opportunities and access to Anthropic’s domain experts. The company is positioning itself as a thought leader in the AI field, despite potential challenges from competitors like Google and Microsoft, who are less transparent about their AI’s environmental impact and other details.

The success of this ambitious project remains to be seen, but it reflects Anthropic’s commitment to advancing AI evaluation standards. The company aims to attract independent researchers and startups to participate in this groundbreaking initiative, hoping to set a new industry standard for comprehensive AI evaluation

Natcap Secures $10M Series A Funding to Enhance Nature Data Solutions

By
Diksha Gupta
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Natural Capital Research Limited (Natcap), a London-based company specializing in nature data, has secured $10 million in Series A funding.

The investment came from a diverse group of backers, including André Hoffmann, Norinchukin Capital, Yeo Ventures, Pelican Ag, David Craig, Oxford Science Enterprises, MW&L Capital Partners, and Alea Iacta Est. These investors also participated in Natcap’s £2.5 million seed round in early 2023.

Natcap plans to use the new funds to fuel its growth, helping organizations better understand their nature-related risks and opportunities.

Founded in 2018 by Professor Baroness Kathy Willis of the University of Oxford and others, and currently led by CEO Sebastian Leape, Natcap aids companies in quantifying and integrating nature-related risks and opportunities into their business strategies. By working closely with scientists, Natcap provides detailed and accessible nature data and metrics. Their platform assists businesses in measuring, reporting, and addressing nature-related risks and opportunities to develop robust nature strategies.

Natcap supports over 20 organizations, including collaborations with Tesco’s Nature Programme and a partnership with MS&AD Insurance Group Holdings.

Coforge Expands Influence with 17% Stake in Cigniti Technologies for ₹645 Crore

By
Diksha Gupta
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Coforge acquired a 17% stake in Cigniti Technologies for ₹645 crore through open market transactions. According to BSE block deal data, Coforge purchased 46,18,199 shares, equivalent to a 16.9% stake in Cigniti Technologies, at an average price of ₹1,398.5 per share, totaling ₹645.85 crore.

Public shareholders Kukunuru Madhava Lakshmi and Kukunuru Kumar Bapuji sold their entire 6.83% stake in Cigniti Technologies. Additionally, promoter Venkata Subramanyam Chakkilam and Sapna P also sold their shares. In total, 46.18 lakh shares were offloaded by these shareholders at the same price.

Cigniti Technologies’ shares dropped by 1.28%, closing at ₹1,367.20 per share on the NSE. On Thursday, Coforge had acquired an 11% stake in Cigniti Technologies for ₹426 crore. In May, Coforge announced that its board of directors had approved the acquisition of a 54% stake in Cigniti Technologies, subject to the execution of definitive agreements and the completion of certain conditions.

Last week, the Competition Commission of India approved Coforge’s proposal to acquire a majority stake in Cigniti Technologies. Coforge, promoted by Baring Private Equity Asia, is a provider of IT and IT-enabled services (ITES).

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