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Cloud native container management platform Weaveworks shuts its doors

Startup News FYI

Startup News FYI · 2y ago

Cloud native container management platform Weaveworks shuts its doors

Cloud-native development tooling company Weaveworks has announced that it will cease its commercial operations and shut down. The startup faced challenges due to uneven sales, increased competition from well-capitalized companies, and difficulty securing an acquisition. Despite raising over $61 million in funding, Weaveworks ultimately ran out of capital. The company leaves behind open-source software, but details on its future maintenance are unknown at this time.

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CrowdStrike to acquire Bionic to extend cloud security capabilities

IndianStartupNews

IndianStartupNews · 2y ago

CrowdStrike to acquire Bionic to extend cloud security capabilities

CrowdStrike, a leading cloud security company, is acquiring Bionic, a leader in Application Security Posture Management (ASPM), to enhance its Cloud Native Application Protection Platform (CNAPP). This move comes as a response to the increasing threat of cloud exploitations, which have risen by 95% in the past year. Bionic's capabilities, including real-time application visibility and vulnerability prioritization, will be integrated into CrowdStrike's Falcon platform to provide comprehensive cloud security. CrowdStrike aims to offer Bionic ASPM both as a standalone solution and as part of its Falcon Cloud Security suite.

CAMS, Google Cloud to build cloud-native platform

Economic Times

Economic Times · 1y ago

CAMS, Google Cloud to build cloud-native platform

CAMS has partnered with Google Cloud to develop a next-generation platform for the asset management industry in India. The collaboration aims to modernize the existing platform used by the Indian Mutual Fund industry by implementing specific modules over a five-year period. CAMS Managing Director, Anuj Kumar, expressed excitement about the collaboration, stating that the modernized platform will adopt a distributed, service-oriented cloud-native architecture. Google Cloud was chosen for its expertise and ability to provide a robust solution that complies with regulatory standards.

Echo Raises $35 Million Series A | The SaaS News

The Saas News

The Saas News · 3m ago

Echo Raises $35 Million Series A | The SaaS News

Echo, an AI-driven secure software infrastructure company based in Tel Aviv, raised $35 million in Series A funding, led by N47 with contributions from Notable Capital, Hyperwise Ventures, and SentinelOne’s S Ventures. Total funding has reached $50 million. Echo plans to use this investment to further develop its AI-native operating system, which delivers cloud security through CVE-free container images. Notable enterprise customers include Varonis, EDB, and UiPath.

Pomelo Secures $55 Million Series C | The SaaS News

The Saas News

The Saas News · 2m ago

Pomelo Secures $55 Million Series C | The SaaS News

Pomelo, a Buenos Aires-based payments infrastructure company, has raised $55 million in a Series C funding round led by Kaszek and Insight Partners, with participation from various investors. The funds will help Pomelo expand beyond card issuing, strengthen its credit card solutions, and develop products like stablecoin-native cards and AI-powered chargeback management. Founded in 2021, Pomelo enables banks, fintechs, and enterprises with scalable, modern payment solutions across Latin America through its API-first, cloud-native platform.

ChrysCapital-backed Xoriant seals second bet with MapleLabs

VCCircle

VCCircle · 2y ago

ChrysCapital-backed Xoriant seals second bet with MapleLabs

California-based software engineering company Xoriant, backed by ChrysCapital, has acquired Bangalore-based technology solutions provider MapleLabs. The financial details of the transaction were not disclosed. Xoriant aims to strengthen its platform engineering capabilities and expand its position in maintaining complex cloud-native applications. The acquisition will also give Xoriant access to MapleLabs' observability platform SnappyFlow and cloud/datacenter sizing tools. MapleLabs' team of over 300 consultants brings expertise in hybrid cloud infrastructure, cloud-native engineering, site reliability engineering, and observability. This acquisition follows Xoriant's previous acquisition of Thoucentric last year.

Encord Raises $60 Million in Series C | The SaaS News

The Saas News

The Saas News · 1m ago

Encord Raises $60 Million in Series C | The SaaS News

Encord, a San Francisco-based AI-native data infrastructure platform for physical AI systems, has raised $60 million in Series C funding. Led by Wellington Management, with participation from Y Combinator and others, the funding will be used to accelerate product development, expand into new markets, and scale its platform. Encord’s AI-native platform enables the management of complex multimodal datasets for autonomous vehicles, drones, and other AI systems, supporting over 300 AI teams globally.

Eton Solution onboards NR Narayana Murthy’s family office as first client

Economic Times

Economic Times · 1y ago

Eton Solution onboards NR Narayana Murthy’s family office as first client

Cloud-based software services firm Eton Solutions has announced that NR Narayana Murthy's family office investment firm, Catamaran Ventures, will be the launch customer for its flagship platform, AtlasFive, in India. Catamaran will use AtlasFive to streamline its investment portfolio management and enhance operational planning, reporting, and compliance. AtlasFive is a cloud-native AI-driven software tailored for family offices and is currently managing over $781 billion for 665 families globally. Eton Solutions is present in India and plans to set up a new technology center in Gujarat's GIFT City to support its global client services.

GenAI projects are influencing cloud adoption: HCLTech study

Economic Times

Economic Times · 1y ago

GenAI projects are influencing cloud adoption: HCLTech study

According to a report by HCLTech, generative artificial intelligence (GenAI) projects are driving cloud adoption and interest in cloud native practices for application modernization. The report states that 98% of enterprises are exploring custom GenAI solutions, with 80% agreeing that the public cloud's value can only be fully realized if applications are modernized during migration. Embracing cloud native architectures and platform engineering is essential for businesses aiming to build a resilient and innovative IT landscape. The report also highlights the importance of hybrid, multicloud strategies and the growing recognition of the value of third-party consulting in cloud strategy execution.

Upwind Raises $250 Million Series B | The SaaS News

The Saas News

The Saas News · 2m ago

Upwind Raises $250 Million Series B | The SaaS News

Upwind, a cloud security company based in San Francisco, has secured $250 million in Series B funding, totaling its overall funding to $430 million. Led by Bessemer Venture Partners, the round included Salesforce Ventures and other prominent investors. The funds will fuel product development, AI security enhancements, and global market growth. Founded in 2022, Upwind focuses on cloud-native environments, providing threat detection and risk management through real-time signals for global enterprises.

SurrealDB Raises $23M in Series A Follow-On Round | The SaaS News

The Saas News

The Saas News · 1m ago

SurrealDB Raises $23M in Series A Follow-On Round | The SaaS News

SurrealDB, a UK-based AI-native multi-model database platform, secured $23 million in a Series A follow-on round led by Chalfen Ventures and Begin Capital, with participation from existing investors FirstMark and Georgian. This brings its total funding to $44 million. The funds will enhance product development in reliability, performance, and security, expand cloud offerings, and boost production deployment support. SurrealDB supports real-time and AI-native applications using its SQL-like SurrealQL language.

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