Tonetag is in talks with growth-stage investment firm Iron Pillar for a fresh equity round of around $50 million. Other investors are expected to join the round as well. The round will be a mix of primary and secondary capital, where some of Tonetag’s early investors will partially or fully exit the company.
Payments firm Tonetag looks to bag $50 million from Iron Pillar, others
VC firm Z47 eyes $150-180 million from portfolio companies stake sale
Venture capital fund Z47, formerly Matrix Partners India, has put its stakes worth $150-180 million up for sale across firms like Ola, B2B firm OfBusiness, Razorpay, and Dailyhunt, sources in the know told ET. This comes months after Matrix Partners India rebranded as Z47 and split from its US partnership amid the wider reset in the VC industry.
Accenture’s consulting biz uptick shows sector is key for IT recovery
Consulting enables technology services companies to build broader businesses and be a key growth driver in a sustainable manner, experts said. While outsourcing only aids participation in deals, consulting helps shape deals and stay ahead of the curve, especially with the GenAI adoption.
AI tech shift leading to remarkable transformation: Worldwide Amazon Stores CEO
Speaking at the ‘Delivering the Future 2024’ event where Amazon announced a major AI push into multiple areas of ecommerce for the US markets, Doug Herrington said AI infusion and enhancement is not just enabling lower costs and improved quality, but also leading to innovative experiences.
TCS to set up IT facility housing 10k employees in Andhra Pradesh: Nara Lokesh
Andhra Pradesh has secured a major investment from Tata Consultancy Services (TCS). The IT giant will set up a facility in Vizag that will employ 10,000 people. This investment is a significant milestone for the state as it strives to become India’s top business destination.
Byju’s founder says missing millions went to legitimate purpose
On the day a judge was set to consider the lenders’ fraudulent transfer claims against his company, Byju Raveendran outlined for the first time in court his explanation for what happened to the money, which lenders have been trying to track down for more than a year.
Data breach: hacker claims senior Star Health executive sold data of 31 million customers
According to the hacker, identified as xenZen, the chief information security officer of Star Health Insurance sold the data and later attempted to renegotiate the deal, demanding more money for backdoor access on behalf of senior management.
Infosys, Microsoft expand partnership to boost adoption of Microsoft Cloud, GenAI
Infosys and Microsoft have expanded their partnership to focus on generative AI and cloud solutions. Infosys will integrate Microsoft’s generative AI tools into its existing solutions to offer clients better cost-efficiency, scalability, and agility.
Amazon India joins hands with Startup India, DPIIT to empower startups through ecommerce
Amazon India and Startup India have joined forces to empower Indian startups. Through this partnership, startups can leverage Amazon’s e-commerce platform to reach a wider audience, receive mentorship, and access essential business services. Additionally, Amazon’s Saheli program will provide specific support to women entrepreneurs.
Software as a service startup Spry Therapeutics secures $15 million
Spry Therapeutics, which focuses on building software for physical healthcare centres, is looking to ride the wave of software companies building products for the global market. Bhuptani, who was former chief technology officer at Ola, said he wants to go after the largest market in the world first.