Microsoft has seen higher rate of adoption of its cloud services in the country after setting up local infrastructure, and the company is now aiming for a market share of more than 40% in the next fiscal in this segment, a top company executive said. The growth in cloud services has been driven b…
Companies, Finance & Markets
Polycom eyes 25% revenue growth in India; bets on government, SMBs
US-based voice and telephony gear maker Polycom is looking at deeper engagement with government and SMB verticals to drive expansion in India as it aims to grow revenues by 25 per cent this year. The company, which is being acquired by Canada’s Mitel Networks Corp in a $1.96-billion cash-an…
SHOPMATIC eyes global expansion with operations in Singapore
Shopmatic, an international e-commerce platform that offers an entire ecosystem of selling online has launched its business operations in Singapore to help the local entrepreneurs and individuals go digital and sell their products through e-commerce. The SMEs (Small and Medium-sized Enterprises) …
Infosys Co-Founder Nandan Nilekani invests in RailYatri
Infosys Co-Founder Nandan Nilekani has invested an undisclosed amount in train travel app, RailYatri.in. In addition to the Former UIDAI Chairman, RailYatri’s existing investors Helion Ventures, Omidyar Networks and Blume Ventures have participated in this round, RailYatri said in a stateme…
Wipro ventures picks up minority stake in cyber security startup Vectra Networks
Wipro Ventures, the $100-million venture capital arm of India’s third largest software exporter Wipro, has invested an undisclosed amount for a minority stake in Silicon Valley-based cybersecurity startup Vectra Networks, according to an executive directly familiar with the matter. Vectra, …
E-commerce firms, retail groups boost handloom sales
The handlooms commissioner under the Union Ministry of Textiles says they have brought in nine leading e-commerce entities, including Flipkart, Amazon and eBay, to increase these products’ penetration in the domestic market. With the same end, they also tied up with 70 retail outlets. Alok Kumar,…
CII ties up with cloudBuy for B2B sourcing platform
The Confederation of Indian Industry (CII) has tied up with cloudBuy, a global provider of cloud-based e-commerce solutions, to launch a business-to-business e-commerce trading platform CIItrade.in. The online platform will bring together business-to-business buyers and sellers on a common platfo…
Analytics firms continue to attract investments
Amidst a slowing of funds into the e-commerce and start-ups space, analytics players might buck the trend as they draw insights from raw data to help CEOs make crucial decisions. Sources say Fractal Analytics is in advanced talks to raise $100 million for a minority stake. Fractal’s performance i…
Rajasthan plans readymade manufacturing facilities
Rajasthan plans to soon offer ready to move in manufacturing facilities in the state under its plug and play policy. This is yet another measure to boost industrial development in the state which has been at the forefront of reforms in labour laws and changes in land policy aimed at attracting in…
Lakshmi Vilas Bank Q4 profit up 22.5% on retail, SME growth
Private lender Lakshmi Vilas Bank on April 27 saw its Q4 profit grow 22.5% to Rs 49.07 crore year-over-year from strength in its retail and SME lending. The commercial lender’s Q4 net income increased 14.3% to Rs 758.84 crore from Rs 663.97 crore for the same period last year. “We are…