Bits’n’bytes: Know about business events in Pune

Pune-based digital product engineering services company Great Software Laboratory (GS Lab) announced the acquisition of a significant majority stake in the company by Kedaara, a private equity firm

Vayana Network raises ₹283 crore in Series C

Artificial Intelligence (AI) and Blockchain-based Drug Discovery and Development company OncoCoin AG, a fully-owned subsidiary of Innoplexus AG, with 43 patents and 116+ patent applications, has launched ‘AMRIT’ crypto-token for patients in India. (REPRESENTATIVE PHOTO)

Trade finance platform Vayana Network announced raising of ₹283 crore in Series C funding round. Vayana saw participation from existing and new investors, including Chiratae Ventures, CDC group, Jungle Ventures, March Capital, Marshall Wace and some of the large family offices from India and abroad. Vayana recently received in-principle approval to set up an ITFS platform at the GIFT City (Gujarat).

Ram Iyer, founder and CEO, Vayana Network said, “Over the last four years, we have grown 20x on quarterly financing volumes and have reached $8 billion in total financing to date. Given our strong presence in credit enabling infrastructure such as GST and e-invoicing coupled with the launch of our Good Business Score (GBS), we have managed to reach the smallest of businesses, connecting them to the largest lenders.”

Iyer added, “Our vision is to create an ecosystem where financing is embedded in a transaction and becomes an almost invisible part of any B2B trade – as simple as swiping a credit card. With our existing and upcoming suite of products, we will solve related challenges such as market discovery, effortless compliance and monitoring, helping every business in a supply chain operate at its best.”

Artificial Intelligence (AI) and Blockchain-based Drug Discovery and Development company OncoCoin AG, a fully-owned subsidiary of Innoplexus AG, with 43 patents and 116+ patent applications, has launched ‘AMRIT’ crypto-token for patients in India.

AMRIT is decentralized and GDPR compliant Real-World Data (RWD) exchange to fuel AI for patient’s health and longevity. AMRIT leverages the patented AI and Blockchain technology to help stakeholders such as Medical Researchers, Physicians, Hospitals, Pharma companies, CROs and more, to speed up Drug Discovery and Development through a decentralised ecosystem kind of approach.

Dr Gunjan Bhardwaj, CEO, Innoplexus AG and founder/chairman of the board, OncoCoin AG, said, “The AMRIT ecosystem is democratising the process of cancer research by offering a base of 350,000 users globally registered on the mobileapp CURIATM. Through the app, the pharma companies seeking to conduct clinical trials can connect with the patients for their participation and incentivise them for sharing their Real-World-Data with the utility token ‘AMRIT.’ Subsequently, users can use it for availing second opinions and other cancer related in-app services. Estimated value of the medical records per user can go as high as $20,000 per record.”

Kedaara acquires majority stake in GS Lab

City-based digital product engineering services company Great Software Laboratory (GS Lab) announced the acquisition of a significant majority stake in the company by Kedaara, a private equity firm.

“Over the past 18 years, we have scaled GS Lab into a 1600+ person innovation-led organisation,” said Shridhar Shukla and Sunil Gaitonde, co-founders of GS Lab. “The investment by Kedaara will enable us to further build on our strengths and take advantage of the growing need for innovative software and digital solutions across industries globally and in India, by leveraging Kedaara and CD&R’s extensive network and relationships.”

Sunish Sharma, co-CEO & managing partner of Kedaara, and Parin Mehta, managing director of Kedaara, said, “Digital transformation is one of the key investment themes for us. We are excited to partner with GS Lab team to support their continued development of outstanding digital software products for their clients worldwide. Shridhar, Sunil, Atul and the senior leadership team have built a strong platform at GS Lab with exceptional product engineering capabilities, focus on innovation and partnerships with world-class clients.”

GS Lab works through the entire software development cycle, from ideation through design, development, execution, deployment, and support. Its team of engineers and product architects offer cutting-edge capabilities in cloud, identity management, security, IoT, AI/ML and data sciences to its clients across sectors.

ZS to hire 4,000 people in 2022

Global professional services firm ZS is keen on hiring 4000+ in 2022 across key areas that are expediting firm’s business growth. ZS, in a statement, has claimed that it has surpassed its annual hiring projection within three quarters, rolling out almost 40 per cent of the offers for tech roles that require proficiency in skills like artificial intelligence (AI), machine learning, big data, Python, cloud technologies and data science, among others.

This year alone, Campus Beats—ZS’s campus engagement program—saw participation from 100+ tier 1 and tier 2 engineering colleges, tapping into a large talent pool. So far, ZS has hired more than1,200 graduates from campuses for various technical and non-technical roles and has extended offers to another 1,500 who will join in 2022.

Esha Gulati, HR lead, Asia, ZS says, “With the accelerated pace of digital adoption, we are looking at strengthening capabilities in emerging tech roles including the cloud, AI, and big data, and intensifying our hiring efforts in the coming year to meet our goal of getting 4000 new recruits. The challenges of remote work have taught us that weaving together human touchpoints with the benefits of innovative technology is imperative to reimagining how we work and how we see our workplaces.”

Satellite Cowork sets foot in Pune

Co-working space provider, Satellite Cowork is foraying into the Indian co-working space with expansion plans of over one million square feet.

There is a surge in demand for such spaces post-pandemic, and to provide the supply for the same Satellite Cowork is expanding its network starting from Noida in North, Bengaluru in South, and Pune in the West.

For expanding the business across pan-India, Satellite Cowork has partnered with Investopedia Consultant to broaden the horizon. The company has experience and expertise in the target market globally.

The corporation plans to provide sector-inspired co-working spaces like the Designer’s Den for interior designers to creative designers that create a community empowering one another under the same umbrella.

Realty Assistant is the brand’s strategic business partner in India.