ENTERPRISE SOFTWARE
Spend management startup Dice raises $5 million from Dallas Venture Capital India Fund
Dice, an enterprise spend management startup, has raised $ 5 million in a funding round led by VC firm Dallas Venture Capital. The company will use the fresh capital for its go-to-market initiatives, like strengthening market penetration and customer outreach.
Persistent Systems buys US software firm Starfish Associates for Rs 173 crore
Persistent Systems said in a statement, "Known for its cutting-edge Enterprise Communications automation platform, Starfish Associates caters to the world’s largest enterprises including many Fortune 500 companies." Following the acquisition announcement on Wednesday morning, Persistent’s stock hit a 52-week high to 4,596 apiece rising over 2% on the BSE.
Corporate Watch: M&M, Tata Comm among 36 stocks in spotlight this week
Welspun Enterprises and DJ Mediaprint declared dividends with ex-dates on July 5. Escorts Kubota also set July 5 as the ex-date for dividend issuance. Several other companies like Tide Water, SKF India, and Balaji Amines have dividend and ex-date announcements in the same week.
Zee Ent. shares rise 1.92% as Nifty gains
The stock quoted a 52-week high price of Rs 299.5 and a 52-week low of Rs 126.15.
Salesforce challenger Creatio raises $200 million, becomes 'unicorn'
The funding, led by Sapphire Ventures, came after Creatio's revenue increased at 50% annually for a few years.
India can be the great link joining the largest population of developers to AI’s immense possibilities
India is projected to surpass the US as the largest software developer community by 2027, with the digital economy contributing significantly to its overall economy. AI tools are revolutionizing software development, leading to substantial gains in productivity. The country's focus on early education in programming and the promotion of open-source collaboration are key factors driving this growth.
India’s tech spending to grow highest in APAC in 2024: Forrester
Technology spending in India is projected to grow by 10.8% to reach approximately $54.5 billion in 2024, the highest in Asia Pacific regions, as per a Forrester report. The spending in AI-augmented software and services will lead the growth in IT categories.
ETtech Q&A | Public markets have reset, private tech valuations still lagging behind: Rubrik founders
The US software company said it has 900 employees in Bangalore, India, developing products for the globe from here. Rubrik has hired engineers, product managers, and UX designers in India along with setting up a significant chunk of its customer service team out of India.
Zee Ent. shares gain 1.62% as Sensex rises
A total of 641,607 shares changed hands on the counter till 01:54PM (IST)
Trend Micro taps Nvidia software tools for AI cybersecurity offering
Trend Micro is collaborating with Nvidia to develop AI-based cybersecurity tools for data centers. The tools aim to detect intruders and secure data used for AI work, addressing the vulnerability of centralized data storage.
SaaS company AiDash launches first ESOP buyback plan for employees
The company says the buyback, which comes on the back of its $58.5 million series C funding round, underscores its commitment to shared wealth creation.
India big market for Canva; looking to build local team there: CEO Melanie Perkins
India is the fifth largest market for Canva, which is bullish on the country's burgeoning creator economy, having doubled its growth between 2023 and 2022. Canva’s latest offering can help businesses create company-wide design templates for their brands, keep their intellectual property (IP) safe, and provide greater control over their visual products.
Software integration startup UnifyApps raises $11 million led by Elevation Capital
San Francisco-based AI startup UnifyApps is aiming to expand its platform to support over 5,000 applications, advance the capabilities of generative AI and build large language model-powered agents.
Google highlights Microsoft's cyber failures in effort to lure customers
Government agencies that switch 500 or more users to Google Workspace Enterprise Plus for three years will get one year free and be eligible for a "significant discount" for the rest of the contract, said Andy Wen, the senior director of product management for Workspace. The Alphabet division is offering 18 months free to corporate customers that sign a three-year contract, a hefty discount after that and incident response services from Google's Mandiant security business. All customers will receive free consulting services to help them make the switch.
India is one of the key markets for business growth in industrial space: Siemens executive
Siemens Digital Industries Software is a part of German conglomerate Siemens and is headquartered in Plano, Texas. The company focuses on product lifecycle management (PLM) software and works with industries like aerospace and defense, pharmaceuticals, and automotives. Its products include Teamcentre (a PLM software and collaboration tool), design software NX and low code platform Mendix.
Infibeam Avenues reports 55% jump in profits at Rs 147 crore for FY24
Infibeam Avenues, the Ahmedabad-based company behind CCAvenue payment gateway and BuildaBazaar enterprise software, saw its annual revenue soar by 61% to Rs 3,171 crore in FY24, compared to Rs 1,962 crore the previous year. Profit after tax also jumped significantly, rising 55% to Rs 147 crore from Rs 94.6 crore.
UPI’s rural push; India as software IPO destination
Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.
Adani arm completes 49% acquisition in Adani Esyasoft Smart Solutions
Earlier reports said that the deal aims to pave the way for the development of smart solutions such as smart metering software, load forecasting, revenue maximisation, and other efficiency-based software products and solutions for utilities, both in India and globally. The agreement between these companies will see Adani and Esyasoft Holding have 49% and 51% shareholding, respectively, in Adani Esyasoft Smart Solutions Ltd.
Q4 Results Today: Infosys, Bajaj Auto among 19 companies on watchlist
19 companies, incl. Infosys, Bajaj Auto, HDFC Life, to announce March quarter results today. Infosys expects 0.4% revenue decline, flat profit growth. Bajaj Auto sees 25% volume growth.
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