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NuSummit plans expansion in Asia Pacific, Western Europe to fuel growth

Economic Times

Economic Times · 7m ago

NuSummit plans expansion in Asia Pacific, Western Europe to fuel growth

Bahrain-based Investcorp-backed NSEIT, now renamed NuSummit, plans to expand its international business into the Asia Pacific and Western Europe regions. The technology services firm is aiming to become globally relevant and plans to use mergers and acquisitions as a growth strategy. Currently, 60% of NuSummit's revenues come from India, and the company aims to increase its international business to make up around 65-70% of total revenues in the next four years. The firm is also focusing on the cybersecurity, cloud, and digital transformation verticals and intends to leverage inorganic growth to enhance its capabilities.

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Mistral AI plans IPO | TechCrunch

TechCrunch · 5m ago

Mistral AI plans IPO | TechCrunch

French AI lab Mistral, founded in 2023, plans an IPO and expansion into Asia-Pacific. Co-founder Arthur Mensch announced at the World Economic Forum that Mistral aims to grow in Europe and the U.S., with additional offices in Singapore. Mistral, valued at around $6 billion, has raised $1.14 billion from investors like Andreessen Horowitz and competes with firms like OpenAI. It offers AI models, including a ChatGPT-like service named Le Chat.

Karkhana.io raises $6.3M in Series A funding

YourStory

YourStory · 1y ago

Karkhana.io raises $6.3M in Series A funding

Custom manufacturing platform Karkhana.io has raised $6.3M in Series A funding round led by Arkam Ventures and Susquehanna Asia Venture Capital. Vertex Ventures Southeast Asia and India also participated in the round. The funds will be used to fuel expansion of the company's supplier network, establish an electronics supply chain, and drive scaling efforts in the United States and Europe.

Israeli cyber startup Zero Networks raises $55 million in private funding

Economic Times

Economic Times · 1m ago

Israeli cyber startup Zero Networks raises $55 million in private funding

Israeli cybersecurity startup Zero Networks has raised $55 million in a private funding round, increasing its total funds to over $100 million. Since 2023, the company's revenue has grown by 300%, though exact figures weren't disclosed. Zero Networks, founded in 2019, has tripled its customer base due to its anti-ransomware technology. Led by Highland Europe, the funding will support expansion into North America, Europe, the Middle East, Africa, and the Asia-Pacific region.

Fintech startup AtoB to open Bengaluru R&D centre, expand global footprint

Economic Times

Economic Times · 6m ago

Fintech startup AtoB to open Bengaluru R&D centre, expand global footprint

Fintech startup AtoB, focused on the transportation industry, plans to establish an R&D center in Bengaluru to support its global expansion. CEO Vignan Velivela highlighted the company’s aim to tap into Indian talent and expand beyond the US to international markets like Europe and Southeast Asia. Founded in 2019, AtoB modernizes payments in the commercial fuel and transportation sector. It has raised over $200 million and utilizes AI for transaction processing and risk modeling.

Hexaware’s IPO comeback: A big payday for Carlyle even with smaller listing

Livemint

Livemint · 5m ago

Hexaware’s IPO comeback: A big payday for Carlyle even with smaller listing

Carlyle Group’s subsidiary CA Magnum Holdings plans to sell a 20% stake in Hexaware Technologies through an ₹8,750 crore IPO, marking Hexaware's return to public markets. The IPO, purely an offer-for-sale, will benefit Carlyle directly. Hexaware aims to boost business in the Asia-Pacific region amidst slower growth in the US and Europe. CEO Srikrishna Ramakarthikeyan sees potential in markets like the Middle East but remains cautious about certain outsourcing challenges with GenAI impacts.

EV Maker Kinetic Green Bags $25 Mn From Greater Pacific Capital

Inc42 · 11m ago

EV Maker Kinetic Green Bags $25 Mn From Greater Pacific Capital

Kinetic Green Energy and Power Solutions has secured $25 million in funding from Greater Pacific Capital. The company will use the investment to expand its dealership network and enter international markets in the Middle East, Europe, and Southeast Asia. India's electric vehicle (EV) market is expected to witness significant growth, with a projected CAGR of 68.48% from 2023 to 2028.

Goldman strikes $1 billion private credit deal with Mubadala

Livemint

Livemint · 1y ago

Goldman strikes $1 billion private credit deal with Mubadala

Goldman Sachs has secured a $1 billion partnership with Mubadala Investment to explore private credit opportunities in Asia, with a particular focus on India. The deal comes as investors increasingly seek exposure to the growing private credit market, which has more than doubled in size over the past five years. While Asia-Pacific is less developed in terms of private credit compared to North America and Europe, Goldman Sachs aims to expand its presence in the region. Mubadala, with around $300 billion in assets under management, plans to double its exposure to Asia by 2030.

IT companies log strong revenue growth outside key North America market

Economic Times

Economic Times · 1y ago

IT companies log strong revenue growth outside key North America market

Indian IT services exporters are experiencing more revenue growth in Europe and regional markets such as the Middle East & Africa and India and Asia Pacific, compared to North America. The North American market traditionally contributes 50-60% of total revenue for most IT services firms, followed by Europe at around 30%. However, the Middle East and Japan have seen faster growth than Europe in the last two quarters. Factors such as high inflation and interest rates in the US have made clients skeptical about discretionary spending, while India, the Middle East, and the UK continue to invest in technology. Tata Consultancy Services (TCS) has seen significant revenue growth in India and the Middle East, while growth in Continental Europe has slowed. Overall, regional markets are driving growth for IT services firms, with the US and Europe experiencing declines.

TransferGo raises $10M to expand its remittance business in Asia, doubling valuation

TechCrunch · 1y ago

TransferGo raises $10M to expand its remittance business in Asia, doubling valuation

UK fintech TransferGo has secured $10m in growth funding from Taiwan-based investor Taiwania Capital. The investment will allow TransferGo to expand its services in the Asia-Pacific region. This latest funding round doubles TransferGo's valuation to approximately $600m. The company, which provides a consumer platform for global remittances, saw significant growth due to its focus on delivering a superior consumer experience. Despite facing past challenges, TransferGo has become profitable and aims to continue taking market share from traditional incumbents, such as cash, banks, and Western Union.

Faced with slow 5G rollout, EU telcos single out Big Tech again

Reuters · 1y ago

Faced with slow 5G rollout, EU telcos single out Big Tech again

European telecommunications lobbying group ETNO has called on big tech companies to help fund the rollout of 5G and broadband in Europe. ETNO's data reveals that Europe lags behind the United States and Asia in terms of 5G networks, cloud computing, investments, and revenues. The group highlights that only 10 out of 114 networks in Europe are 5G standalone, and Europe has only four commercialized edge cloud offers compared to 17 in the Asia-Pacific region and nine in North America. ETNO emphasizes the need for a fair and proportionate contribution from all market actors to digital network investment.

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