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Polygon cofounder Sandeep Nailwal takes over as CEO amid restructuring
Economic Times
·
2m ago
Medial
Polygon, a blockchain firm, is undergoing restructuring with Sandeep Nailwal as its new CEO. The company is addressing challenges including co-founder exits and internal friction between US and India teams. The restructuring plan involves launching the AggLayer to enhance blockchain interoperability by FY25 and shutting down zkEVM due to developmental hurdles. Despite competition from players like Coinbase, Polygon aims to leverage its significant transaction volumes and collaborations with major organizations.
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Polygon chalks out change of tech guard after exit of two co-founders
Money Control
·
1y ago
Medial
Blockchain unicorn Polygon has undergone a restructuring, leadership changes, and staff layoffs as it plans to achieve long-term goals. Co-founders Jaynti Kanani and Anurag Arjun left the company in March, with Marc Boiron taking over as CEO. Sandeep Nailwal, remaining as chairman of the foundation, cited a change of focus towards zero-knowledge proof (zk) technology as the reason for the co-founders' departure. The company aims to be a backbone for Web 3.0 and has consolidated its product line into four main segments. Polygon has sufficient funds for its plans but remains open to strategic partnerships.
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Polygon co-founder Jaynti Kanani quits
Money Control
·
1y ago
Medial
Jaynti Kanani, co-founder of Polygon, has decided to step down from the layer 2 blockchain startup in order to focus on two new ventures he founded in 2023. This comes after Polygon recently underwent executive reshuffling, with Marc Boiron taking over as the new CEO. Kanani expressed his confidence in Polygon's future and stated that he will still contribute and support the project. Kanani, along with Sandeep Nailwal and Anurag Arjun, founded Polygon in 2017 and played a significant role in its growth within the blockchain and crypto community.
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Blockchain For Impact earmarks $200M for healthcare startups and biomedical research
YourStory
·
5m ago
Medial
Philanthropic organisation Blockchain For Impact (BFI), founded by Polygon Co-founder Sandeep Nailwal, has allocated $200 million for healthcare startups and biomedical research. Originally a 2021 initiative by Nailwal called the Crypto Relief Fund, BFI has invested over $90 million in healthcare and climate resilience. Notably, it launched the BFI-BIOME Virtual Network Program to fund 46 startups and partner with medical colleges. BFI leverages blockchain for efficient fund allocation and innovation support in medicine and climate action.
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Sandeep Nailwal’s New Venture Sentient Raises $85 Mn To Take On OpenAI, Llama
Inc42
·
1y ago
Medial
Blockchain startup Sentient Labs, co-founded by Sandeep Nailwal of Polygon, has secured $85 million in seed funding to develop an open-source decentralized artificial intelligence (AI) and artificial general intelligence (AGI) platform. Operating on the Polygon CDK chain, Sentient Labs aims to create a transparent and fair AI ecosystem powered by blockchain technology. The startup plans to launch its testnet in two months and is focused on an open, monetizable, and loyal (OML) model that rewards community contributions, while emphasizing transparency, fairness, and decentralization.
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Exclusive: Unacademy founders Munjal, Saini set to exit, shift focus to AirLearn
Economic Times
·
3m ago
Medial
Unacademy cofounders Gaurav Munjal and Roman Saini are stepping down from active roles amid strategic shifts at the edtech company. Munjal will focus on AirLearn, a language-learning app spinout, as Unacademy pivots from online test prep to offline coaching centers. Sumit Jain takes over as CEO. The company, facing a challenging post-pandemic edtech landscape, sees declining revenues and restructuring. Unacademy raised $880 million in funding, with major stakeholders including SoftBank and General Atlantic.
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BharatPe elevates Nalin Negi as CEO
Thehindubusinessline
·
1y ago
Medial
BharatPe, a major Fintech player, has promoted Nalin Negi as its CEO after serving as interim CEO and CFO for over a year. Negi was appointed as the CFO in 2022 following the resignation of Suhail Sameer. Under Negi's leadership, BharatPe witnessed a 182% increase in revenue in FY23 and achieved its first EBITDA positive month in October 2023. With over 28 years of fintech and banking experience, Negi will focus on driving innovation and empowering merchants across India. BharatPe will now search for a new CFO. Recently, the company underwent a management restructuring, promoting Sandeep Indurkar as CEO of the payment vertical.
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Crypto Social Network 0xPPL Nets Funding From Peak XV, Others
Inc42
·
11m ago
Medial
0xPPL, a social networking platform for the crypto community, has secured an undisclosed amount in funding from investors including Peak XV Partners, AllianceDAO, and Anagram. The funding will be used to improve the platform's features, expand its team, and further establish itself as a leading on-chain social network. Notable angel investors, including Balaji Srinivasan and Sandeep Nailwal, also participated in the funding round.
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Livspace names Ramakant Sharma as CEO, Anuj Srivastava as chairman ahead of IPO
Economic Times
·
6m ago
Medial
Livspace, a home decor startup, is restructuring its leadership in preparation for its IPO. Co-founder Anuj Srivastava moves from CEO to chairman, while Ramakant Sharma takes over as CEO. They plan to shift the company's domicile from Singapore to India and target an IPO by late 2025 or early 2026. The company, backed by Ikea, TPG, and KKR, seeks consumer brand acquisitions to enhance growth and focus on high-margin businesses, discontinuing low-margin B2B deals.
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Unacademy CEO Gaurav Munjal steps down; Sumit Jain takes charge
Internet
·
3m ago
Medial
Unacademy cofounders Gaurav Munjal and Roman Saini are stepping down, with Sumit Jain taking over as CEO. This change comes amid Unacademy's strategic shift from online to offline coaching. Munjal is focusing on AirLearn, a language learning app, potentially positioning it as a standalone entity. Despite financial challenges and a halted acquisition deal, Unacademy's restructuring efforts have reduced losses. AirLearn is growing rapidly, with significant user engagement and revenue potential.
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0xPPL closes strategic round led by Peak XV, others
Entrackr
·
12m ago
Medial
0xPPL, a platform dedicated to social networking in the on-chain world, has raised its strategic funding round led by AllianceDAO, Anagram, and Peak XV Partners for an undisclosed amount. Balaji Srinivasan, Anatoly Yakovenko (co-founder at Solana), Raj Gokal (co-founder at Solana), Sandeep Nailwal (co-founder at Polygon), Ryan Selkis (founder at Messari), Sreeram Kannan (founder at EigenLayer) and others have also participated in the round. The proceeds will be used to enhance product, grow team and advance the company’s mission of being the go-to on-chain social networking platform, 0xPPL said in a press release. Founded in August 2022, 0xPPL is a next-generation social network designed specifically for crypto natives. By offering the safety of chain social networking, they aim to make on-chain navigation easy and engaging. OxPPL enables users to track portfolios across EVM, Solana, Bitcoin, TION and Cosmos, all at one place while also checking invested amount, PnL, 24hr change and staking rewards. Users can stay updated on token holdings, protocol positioning, and NFT values and also benefit from cross-posting features that enable seamless content sharing across platforms like twitter, Farcaster and Lens Protocol and more.
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