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News on Medial
AI firm Anthropic announces 100 roles in Europe, new EMEA head
Economic Times
·
4m ago
Medial
AI firm Anthropic plans to create over 100 new roles in Europe, focusing on sales, engineering, research, and business operations in Dublin and London. Guillaume Princen, previously from Stripe and Mooncard, has been appointed as head of Europe, Middle East, and Africa. Backed by Amazon and Google, Anthropic's Claude chatbot is adopted by companies like BMW and WPP. Recent funding raised $3.5 billion, valuing the company at $61.5 billion.
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Consultancy Bain & Company names new global CEO
VCCircle
·
1y ago
Medial
Consultancy firm Bain & Company has announced the appointment of Christophe De Vusser as its new global CEO, effective from July 1. De Vusser, a board member of the firm, will be taking over from Manny Maceda, who has served two three-year terms as CEO. De Vusser, the first European to hold the position, joined the company in 2000 and has been leading the Private Equity and Financial Investors practice in Europe, Middle East, and Africa (EMEA) since 2018.
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Warburg Pincus names Vishal Mahadevia as Asia head
Livemint
·
1y ago
Medial
Private equity firm Warburg Pincus has announced the appointment of Vishal Mahadevia as the new head of Asia private equity. Mahadevia, who has been with the firm for 17 years, will transition from his role as head of India. Narendra Ostawal has been appointed as the new head of India, while Anish Saraf and Viraj Sawhney will take on expanded roles. The firm has also made promotions in Singapore and China as part of its focus on cross-border business services and industrials. Warburg Pincus recently closed its latest fund, raising $17.3 billion.
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BAT VC announces $100 Mn fund to back Indo-US startups
Entrackr
·
2m ago
Medial
Former X India head Manish Maheshwari’s venture capital (VC) firm, BAT VC, has made a foray into India with the announcement of a $100 Mn fund to back early-stage ventures in the country. According to BAT VC, its Fund II will focus on startups operating in both India and the US across sectors such as AI, fintech, and SaaS. The fund is co-founded by Manish Maheshwari, Aditya Mishra, and Ravi Metta, with Maheshwari leading the VC firm’s regional expansion in the country. The VC firm says that Fund II has already attracted interest from “top-tier” institutional limited partners (LPs), strategic investors, and family offices in both India and the US. BAT VC plans to invest in startups before product-market fit (PMF), de-risking the execution with active support and internal frameworks. It will help founders access customers, capital, and talent in both India and the US. The VC firm prioritizes startups that place AI at the center of their product and business model. BAT VC also eyes Indo-US dual-market startups, which raise more capital on average than single-geography peers, adding that SaaS companies with operations in both nations demonstrate 1.8X higher median revenue growth. Established in 2021, BAT VC is a cross-border VC firm that backs AI-first early-stage startups in sectors such as fintech and SaaS. The VC firm claims to help founders achieve PMF and scale globally. It has backed notable companies including StockGro, Uptiq AI, Nickelytics, Accern, and others. The New York-based VC firm launched its maiden fund in 2022, which claims to have clocked an internal rate of return (IRR) of 30% and a multiple on invested capital (MOIC) of 1.61X. It also claims that the portfolio startups in its inaugural fund have achieved an average revenue growth of 210% within 18 months.
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Wipro names Omkar Nisal as CEO of Europe strategic market unit
YourStory
·
8m ago
Medial
IT firm Wipro has appointed Omkar Nisal as the CEO for its Europe strategic market unit. Nisal, who has been with Wipro for over 12 years, will report directly to the company's CEO and MD. With his strategic vision and understanding of the European market dynamics, Nisal will lead Wipro's growth and expansion plans in the region. He has previously led Wipro's banking-EMEA business, focusing on digital transformation and automation. Nisal was recently serving as the SVP and MD of the UK and Ireland for Wipro.
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OpenAI Announces Massive US Government Partnership
Wired
·
2d ago
Medial
OpenAI has partnered with the US government, offering its AI models, including ChatGPT, to federal agencies for $1 over the next year. This collaboration, announced by OpenAI and the General Services Administration (GSA), aims to advance the government’s AI initiatives as part of Trump's AI Action Plan. OpenAI's models, recently added to the GSA purchasing list alongside others from Anthropic and Google, will help modernize federal operations by providing customizable, secure AI solutions.
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Oyo's India CEO and Europe head quit
Economic Times
·
1y ago
Medial
Oyo's India CEO, Ankit Gupta, and the head of Oyo's Europe business, Mandar Vaidya, have resigned from their positions ahead of the company's planned public listing. These leadership changes occurred six months ago, in March of this year. The roles have already been transitioned to Varun Jain, COO India, and Gautam Swaroop, CEO of Oyo Vacation Homes, respectively. Oyo confirmed the departures and expressed gratitude for their leadership contributions.
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Amazon pours another $4B into Anthropic, OpenAI’s biggest rival
Arstechnica
·
7m ago
Medial
Amazon has increased its investment in AI startup Anthropic by $4 billion, making its total stake $8 billion. This investment enables Anthropic to use Amazon's custom-built Trainium and Inferentia chips for training and deploying its foundation models. Anthropic has also been assisting Amazon in developing a new version of its Alexa AI assistant based on Anthropic's Claude AI language model. The UK Competition and Markets Authority cleared the partnership between Amazon and Anthropic, allowing it to continue. This investment reflects the intense competition between cloud providers Amazon, Microsoft, and Google in the AI market.
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Flipkart’s Ravi Krishnan exits after decade-long stint across product, labs and category leadership
YourStory
·
1m ago
Medial
Flipkart's Head of Product, Ravi Krishnan, has exited the company after a decade-long tenure, announcing his departure on LinkedIn. Krishnan held various leadership roles, contributing significantly to AI, appliances, and Flipkart Labs. His responsibilities included developing new business initiatives, such as automotive sales and recommerce, and enhancing user experience through AI-driven shopping solutions. His departure follows recent executive changes at Flipkart, which is expanding efforts in quick commerce, AI, and fintech.
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SoftBank to hit restart button on India investments after 18-month hiatus
Inc42
·
1y ago
Medial
Japanese investment major SoftBank is reportedly planning to resume investing in Indian startups after an 18-month funding drought. SoftBank will be signing deals with Indian startups in the near future, according to Sumer Juneja, head of India and EMEA at SoftBank Investment Advisers. The company had adopted a wait-and-watch approach but is now actively looking to invest in new-age companies and strengthen its presence in the Indian market. SoftBank has previously invested $15 billion in India and has funded nearly a fifth of the country's unicorns.
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RJ Corp's blueprint for future: Ravi Jaipuria announces succession plan
Livemint
·
1y ago
Medial
RJ Corp, led by Ravi Jaipuria, has announced a succession plan that will see his children Varun and Devyani taking on leadership roles in the conglomerate. Varun Jaipuria will head the food and beverage division, including Varun Beverages Limited, which is the second largest bottler of PepsiCo in the world. Devyani Jaipuria will be responsible for the healthcare sector and partnerships with educational institutions. The founder will continue as chairman, focusing on growth and strategic expansion. The plan aims to ensure continuity while introducing fresh perspectives and professional management.
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