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ETtech Deals Digest: Startup funding plunges 28% on-year to $210 million this week

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The funds were raised through 21 rounds, down from 27 in the same period of the previous year. This week, startups, primarily at the early and late stages, raised funding through 21 rounds, down from 27 rounds during the same period last year, when they raised a total of $293 million, according to data from Tracxn.

Byju's faces total shutdown if insolvency proceeds: CEO Byju Raveendran

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Byju’s, valued at $22 billion, may shut down due to insolvency, stated CEO Raveendran. Byju’s, backed by investors like Prosus and General Atlantic, has suffered numerous setbacks in recent months, including job cuts, a collapse in its valuation and a tussle with investors who accused CEO Byju Raveendran of corporate governance lapses. Byju’s has denied any wrongdoing..

Microsoft outage forces IndiGo to issue handwritten boarding passes; passenger’s post goes viral

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A global outage affecting Microsoft Windows services, caused by a faulty CrowdStrike update, led to widespread disruptions across various sectors. In response, IndiGo, one of India’s major airlines, began issuing handwritten boarding passes. This temporary shift from digital systems has garnered significant attention on social media, with passengers sharing their experiences and photos of the manual passes.

Wipro bucks headcount reduction trend, adds 337 employees in June quarter

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In March quarter, headcount had dropped by 6,180, down for the sixth straight quarter. The total employees at the end of June stood at 234,391 as compared to 234,054 employees at the end of March.

Microsoft outage update: Crowdstrike CEO shares how to fix the issue

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A global Microsoft outage on Friday, caused by a defect in a third-party software update, disrupted services for millions of users, including businesses, airports, and financial markets. CrowdStrike CEO George Kurtz confirmed that the issue was neither a security breach nor a cyberattack and assured that a fix was being deployed. Microsoft acknowledged the problem and is working on a resolution.

Microsoft outage cause explained: What is CrowdStrike and why users are getting Windows' blue screen of death?

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Microsoft experienced a global outage on Thursday due to an issue with CrowdStrike’s Falcon Sensor software, causing widespread disruptions and triggering the ‘Blue Screen of Death’ on Windows PCs. The outage affected services like Microsoft 365, Azure, and numerous other platforms, grounding flights and disrupting various businesses. Despite the serious impact, many users took to social media to joke about the early weekend arrival.

Microsoft outage: Netizens joke about early weekend arrival amid global IT breakdown

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A major outage in Microsoft’s cloud services on Friday disrupted operations across various sectors worldwide, including airlines, banks, and the London Stock Exchange. Major U.S. airlines like American, Delta, and United issued ground stops, while companies like McDonald’s and LSE faced communication issues. The outage, starting around 6 pm ET on Thursday, primarily affected Azure and Office 365 services.

AI startup Fibr raises $1.8 million in a funding round led by Accel

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Fibr, an AI-powered personalisation platform, raises $1.8 million in funding round led by Accel. Fibr will use the funds for enhancing its AI personalisation platform, expanding its customer base, and hiring talent including engineers, product marketers and sales and go-to-market (GTM) experts, top officials said.

Consolidation wave: edtech learning theory of survival of the fittest

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According to industry executives, the consolidation is being driven by the fact that smaller companies often offer unique propositions and specialisation in niche categories. Such companies could also be acquired at attractive valuations due to the prolonged funding winter. Funding in edtech sector plunged to $319 million in 2023.

Tata Communications’ overseas revenues continue to outgrow India: CEO

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For the April-June 2024 period, the company reported a 12.78% decline in net profit to Rs 332.93 crore for Rs 381.75 crore from a year ago. On-quarter basis the profit was up 3.54% from Rs 321.52 crore posted in the March-end quarter. During the first quarter of fiscal 2025, Tata Communications’ income from operations stood at Rs 5,659.71 crore having increased 14.1% on-year comparison, but decreased 1.55% sequentially