DevX was founded in September 2017 by three entrepreneurs, Rushit, Umesh, and Parth (known as the RUPaiyya trio), along with Dev Information Technology Ltd. Initially envisioned as a startup accelerator, DevX has evolved to support innovative startups by providing essential resources and fostering strategic partnerships. The company’s initiatives are structured to create synergies and facilitate the cross-pollination of ideas, driving collaborative growth and development.

Mr. Umesh Uttamchandani, Co-Founder of DevX, said, “Our new centers in Noida mark a significant milestone in our expansion strategy. We are committed to deepening our presence in tier-2 and tier-3 cities, which are essential to India’s economic growth. Our goal is to support Global Capability Centers (GCCs) and large enterprises by providing upscale, flexible office spaces that cater to their evolving needs. With our focus on delivering world-class infrastructure, scalability, and compliance with global standards, we are confident in setting new benchmarks in the managed office space sector. DevX remains dedicated to offering best-in-class work-space experiences at competitive pricing.”

Mr. Chandresh Panchal, SVP – Employee Services, QX Global Group, said, “We have been working at DevX for several years, and we genuinely enjoy the facilities they provide. Our employees appreciate the modern, well-equipped spaces, which contribute to a productive work environment. The flexible workspaces are designed to foster collaboration and innovation, which aligns perfectly with our company culture. For us, it’s lucrative because of the flexibility DevX offers in scaling our operations to meet our needs, allowing us to adjust our space requirements based on project demands. The new space in Noida is fantastic, featuring an engaging and vibrant environment that our team loves. It has enhanced our working experience and continues to support our growth and efficiency.”

As a core part of the ecosystem, DEVX also provides, round the year, a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc…to address core trends and issues. The company is planning further expand and thus consolidate it’s pan-India presence by 2024 end.

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This investment will enable the company’s expansion plans in the green energy domain, focusing on establishing new Compressed Bio-Gas (CBG) plants across the country.

The company plans to utilize this funding to enhance its operations and market presence.  It will accelerate Gruner’s research and development (R&D) initiatives, aiming to enhance biogas production efficiency and explore new avenues such as sustainable aviation fuel (SAF) and green hydrogen. The company also plans to expand its CNG retail outlets and increase its market presence over the next five years.

The company is committed to enhancing its research and development (R&D) efforts as it aims to make substantial contributions toward Prime Minister Narendra Modi’s vision of energy independence and sustainability for India.

Utkarsh Gupta, Founder & CEO, Gruner Renewable Energy said, “Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India’s vision of energy independence. The Union Budget 2023-24 announcement to establish 500 new waste-to-wealth plants under the GOBARdhan initiative has been a major boost for the sector. With 113 functional CBG plants, 667 in development, and 171 under construction, the growth is substantial. These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation”.

Utkarsh said, “As the Modi 3.0 government has taken charge, the biofuels industry anticipates policy reforms that will facilitate the expansion of new CBG projects nationwide. Biofuels will be essential in helping the country achieve its net zero ambitions. Government subsidies, tax credits, and substantial funding for R&D will be crucial in leveraging the opportunities inherent in CBG projects. This vision aligns with the goal of ‘Viksit Bharat’ (Developed India), where sustainable and self-reliant energy solutions drive economic growth and environmental stewardship”.

According to Utkarsh, encouraging the cultivation of energy crops through direct subsidies and financial incentives for farmers is essential. This approach not only supports the agricultural sector but also ensures a steady supply of feedstock for biogas production. By providing these incentives, the government can promote sustainable farming practices and contribute to the growth of the renewable energy sector. This strategy will help build a self-reliant and sustainable future for India.

A reflection of its commitment towards a cleaner and greener future for India, Gruner Renewable Energy is also establishing Asia’s largest CBG plant in Navsari, Gujarat.

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The capital infusion will enable Rays Power Experts Pvt. Ltd. to expand its footprint and undertake new solar projects both domestically and internationally.

The company has developed six solar parks and over 300 ground-mounted projects, making it one of India’s largest solar park developers with a 95% market share in Rajasthan’s open access market.

Rays Power Experts has successfully executed numerous Solar EPC projects for the C&I segment and has a presence across ten states in India, including Rajasthan, Madhya Pradesh, Haryana, and Delhi, along with an international presence in the UK and Sweden.

The company plans to expand into other European countries and the UAE with this new funding.

Sunil Nyati, Managing Director of Swastika Investmart Ltd., said, “It has been a privilege to facilitate this crucial funding for Rays Power Experts. Their impressive track record and ambitious plans for expansion make them a key player in the renewable energy sector. Their esteemed clients include specific properties of Taj Hotels Jaipur, Radisson Blu, Marriott Hotel, The Leela, NHPC, SJVNL, Borosil, Inox Air, Jaquar, Airport Authority, Delhi Metro, and many more. This funding will allow them to capitalize on new opportunities and further their mission of promoting sustainable energy solutions.” 

Rahul Gupta, Founder and Director of Rays Power Experts Pvt. Ltd, said, “We are thrilled to secure this funding at such a crucial time. This capital will accelerate our expansion into new projects and international markets. Swastika Investmart’s invaluable support and expertise were key in securing this investment. We aim to continue leading in renewable energy solutions with these funds.” With a vision of bolstering India’s vision of embracing a healthier energy mix, Rays Power Experts has successfully installed 800MWs of solar solutions across India.

The firm has a diverse portfolio of projects across the country. Their solar energy solutions have an LCOE (levelized cost of electricity) that is cost-effective, making it financially affordable than fossil fuels and other conventional sources of energy. Rays Power Experts offers bankable solar power solutions while incorporating technology, expertise, and services. Company has executed single largest project of 187 mw in Dhadla raj for its client Rising Sun. 

The Indian solar EPC (Engineering, Procurement, and Construction) industry has experienced a robust CAGR of 15.4% from 2016 to 2024. As the world’s 5th largest solar power generator, India is ambitiously targeting 270 GW of solar power generation by 2030. This government support is set to further propel the sector’s growth.

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This fund will be allocated to marketing, sales, technology scaling, R&D, infrastructure and administrative expenses.

The company developing AI-powered solutions that personalize business communication for non-English speakers into both private and government infrastructures. By leveraging advanced Natural language processing (NLP) and Small Language Models (SLM), the company enables businesses to effectively reach customers in their native. Their innovative solutions address the unique linguistic needs of diverse audiences, enhancing communication and engagement.

The company was co-founded by Nakul Kundra and Himanshu Sharma, both of them having 15 years of entrepreneurial experience. Nakul Kundra, who holds an MBA in Marketing & Finance, has a rich background in business strategy and management. Himanshu Sharma, also an MBA in Marketing and a skilled coder, combines technical expertise with business acumen. Together, their diverse skill sets and extensive experience drive the innovative vision and growth of Devnagri.

Mitesh Shah, Co-Founder, Inflection Point Ventures says, “In India, where more than 700 languages are spoken, translating it is a challenging task from the perspective of accuracy, context, and cultural nuances. These issues impact communication, business expansion, and user experience. Devnagri addresses these problems by leveraging AI-powered human translation. The platform ensures precise translations, context-awareness, and localization, enabling seamless communication across diverse Indian languages.” 

Devnagri’s exceptional BLEU scores in Indian languages demonstrate its proficiency in delivering high-quality translations. By expanding its offerings to include GenAI and SLM, the company empowers businesses to create personalized content tailored to specific audiences, driving engagement and customer satisfaction.

The company’s focus on Tier II and Tier III cities is a strategic move to tap into underserved markets. By offering cost-effective, AI-powered language solutions, Devnagri is enabling businesses to expand their reach and build stronger connections with customers across India.

Nakul Kundra, Co-Founder of Devnagri, emphasized the company’s customer-centric approach, stating, “Effective communication is about reaching the receiver. Our focus on hyper-local communication empowers businesses to connect with their audiences in their own language.” He further highlighted the company’s vision of offering private cloud infrastructure to ensure data security and control for enterprise clients.

Devnagri’s achievements have been recognized with prestigious awards, including the TieCon Award 2024, the Graham Bell Award 2023, a feature in the special edition of Shark Tank India 2022, and recognition as NASSCOM’s Emerging NLP Startup of India.

The opportunity market for Devnagri is valued at $100 Billion Globally by 2030 ($53 Billion in India growing at a CAGR of 6.7%) which keeps on growing with the growth of all content rich industries. As the language industry is just getting form in India, it will further create sub industries and will change the way of communication for everyone.

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New and existing strategic and financial investors participated in this round, including AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, and Leaps by Bayer.

This round, combined with investments from industry partners since its Series C round, brings Huma’s total raised capital to over $300 million.

Additionally, Huma is launching the Huma Cloud Platform, a technology ecosystem designed to accelerate the development and launch of digital health projects.

The Huma Cloud Platform offers no-code configuration for regulated disease management tools, a library of pre-built modules, device connectivity capabilities, cloud-agnostic hosting, readily available APIs, integration capabilities, and the ability to host and deploy diagnostic and predictive AI algorithms. This suite aims to advance digital-first care and research, reducing the time to develop and launch digital health products from years to mere days.

Now available to customers, the platform comes equipped with a Software Development Kit (SDK) to facilitate the accelerated development of similar applications or embed functionalities into existing solutions.

Huma’s technology has powered projects in over 3,000 hospitals and clinics, engaging and screening over 35 million individuals, with 1.8 million active users across its products in more than 70 countries.

Huma collaborates with over half of the top 20 pharmaceutical companies globally and has been involved in major national healthcare projects. Partnerships with organizations like Google have facilitated the development of new AI models, such as the “10x Nurse” feature, which reduces administrative tasks and brings automation to the patient review process, maintaining human oversight. These advancements enable more efficient management of chronic diseases and real-time monitoring systems to ensure patients are on the correct treatment pathways.

Looking ahead, the combination of the Huma Cloud Platform with next-generation AI models promises to have a profound impact on digital-first care and research initiatives. It will support small startups and enterprises in launching the digital solutions they need, emphasizing project or venture success over scaling technology or managing regulatory burdens.

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The funds will be utilized for working capital to support the company’s ongoing operations and expansion initiatives.

Harnessing the power of robotics, artificial intelligence (AI), and machine learning (ML), Aegeus Technologies is revolutionizing the operation and maintenance (O&M) of solar plants. The company’s flagship product, Intelligent Waterless Solar Panel Cleaning Robots, is already making a significant impact, being installed in solar plants with a combined capacity of more than 8GW across India.

Founded in 2017 by Suraj Vernekar and Nishith Shah, Aegeus Technologies has a focus on AI and IoT enabled robotics for automating the O&M of solar plants.

Commenting on the impact of their technology, they said, “The face of the solar sector in India is evolving dramatically with technology transforming its every facet. Waterless technology will save a lot of water and manual effort.  It thus will bring enhanced return on investments and efficiency in solar panel cleaning and predictive monitoring of health of modules for both utility scale and rooftop solar panel cleaning along with vegetation management.”

The transaction was introduced by Innoxpark Ventures Pvt Ltd, founded by Jyoti Prakash.

The Solar PV market is at the point of inflection and Aegeus Technologies is one of leading companies with reputed clients and is poised to scale.

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Leveraging data from the international Cybernomics 101 study, the report assesses how challenges relating to security policies, management support, third-party access, and supply chains can undermine a company’s ability to withstand and respond to cyberattacks. Only 43% of surveyed organizations expressed confidence in their ability to address cyber threats.

The report identifies inconsistent security policies as a major hurdle, particularly for smaller businesses. Nearly half (49%) of smaller companies surveyed struggle to implement consistent security measures like authentication and access controls across their entire organization.

Over a third (35%) of smaller businesses surveyed believe senior management underestimates the significance of cyberattacks. Additionally, larger companies grapple with resource limitations, citing budget (38%) and a lack of skilled cybersecurity professionals (35%) as key challenges.

The report also raises concerns about supply chain security. Many organizations lack adequate control and visibility into the security practices of third-party vendors who may have access to sensitive data. This exposes the entire organization to potential breaches through the supply chain.

“For many businesses today, a security incident of some kind is almost inevitable,” said Siroui Mushegian, CIO of Barracuda Networks. “What matters is how you prepare for, withstand, respond to, and recover from the incident. This is cyber resilience. Advanced, defense-in-depth security solutions will take you most of the way there, but success also depends on security governance — the policies and programs, leadership, and more that enable you to manage risk. When NIST updated its benchmark cybersecurity framework earlier this year, it added security governance as a strategic priority.”

The report offers practical templates to help organizations manage cyber risk and map where they are in their journey toward cyber resilience. The cyber resilience checklist draws on the latest iteration of the U.S. National Institute of Standards and Technologies (NIST) Cybersecurity Framework and can be freely downloaded and printed from the Barracuda website.

Resources:

Get a copy of the report: https://www.barracuda.com/reports/cyber-resilience-report

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The funding led by Prime venture partners and Zephyr Peacock India will help Poshn create the largest distribution network in the food ecosystem.

The company was founded by Shashank Singh and Bhuvnesh Gupta and has raised around $8 million in equity since its inception in 2020.

The company leverages a full-stack approach to address inefficiencies across the entire food value chain, encompassing various stakeholders like food processing units, wholesale buyers, institutions, general trade, and retailers.

Poshn plans to use the fresh funds to build further its innovative stack of solutions that address the gaps in the system. Besides, it will use the funds to expand the business to global markets with imports/ exports in profitable categories to Southeast Asian and Middle Eastern countries.

Shashank Singh, Co-founder of Poshn, said, “Poshn has already cemented its position in the wholesale segment over the last three years. With the trust of investing partners and infusion of fresh equity, we aggressively integrate forward and backward in the chain and open foreign/export markets over the next 12 months while growing profitably.”

Over the past three years, Poshn has experienced remarkable growth while maintaining profitability. The company’s revenue has skyrocketed six-fold from FY22 to FY24. Poshn is one of the few startups that have been EBITDA profitable while supporting the growth trajectory. Since its inception, the startup has marked a presence in more than 16 states in India. In 2022, the startup raised USD 4 million in equity in a seed round with Prime Venture Partner and Zephyr Peacock. Additionally, it has partnered with Banks & NBFCs for its debt requirements. Some notable names include ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, and Capsave.

Prime Venture Partners added,” Poshn has led by being a supply-first company and has meaningfully solved for the B2B food value chain. The company has always been bottom-line focused with a remarkable ROCE and wants to continue expanding that further by going deeper into the supply chain while also pursuing some full-stack vertical integrations. We believe Poshn will be a category-defining company in the coming years, and we are excited to be their partners from day zero.”

In its journey, Poshn has built solutions to make the supply chain efficient for user onboarding, document collection and verification, and ledger matching. In the next phase, the company will integrate forward and backward in the food value chain to unlock further efficiencies via capacity planning, utilizations, and reaching directly to retailers.

Bhuvnesh Gupta, Co-founder, said, “Poshn boasts of best operational and capital efficiency in not just food tech but across B2B segments. With renewed capital and trust, we will continue to scale newer horizons with the same efficiency.”

The food supply chain market is over USD 800 billion and is highly fragmented on the supply side. The chain experiences inefficiencies due to a slew of intermediaries or middlemen, poor capacity planning, a lack of predictable demand, and a lack of technology. Poshn is working on bridging these gaps with technology.

 “Poshn is using technology to simplify and organize the fragmented food value chain in India. Both buyers and suppliers are adopting Poshn’s platform for convenient access to quality products at competitive prices.  We are excited to partner with Shashank and Bhuvnesh,” said Mukul Gulati, Managing Partner, Zephyr Peacock India.

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BluWheelz stands out in the Indian transportation sector by offering a comprehensive fleet solution with two-, three-, and four-wheeler electric vehicles across 18 cities. They plan to become the first company in India to integrate six-wheeler EVs into their fleet-as-a-service model, further pioneering the space.

Dr. Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts stated, “We are delighted to support BluWheelz in their mission to redefine logistics through sustainable mobility solutions. Their innovative approach, combining cutting-edge technology with a commitment to environmental responsibility, aligns perfectly with our investment philosophy. BluWheelz’s impressive growth trajectory, strategic partnerships, and visionary leadership position them as frontrunners in the rapidly evolving EV market. We are confident in their ability to drive transformative change and look forward to being a part of their success story.”

Since its inception in January 2023, BluWheelz has achieved significant milestones. Their fleet has grown to over 1,200 vehicles, operating in 18 cities and serving a diverse clientele across various sectors. The company boasts a strong leadership team, including founder and chairman, Mr. Sanjiv Gupta (former CEO of Coca-Cola India and Spicejet Cargo), BluWheelz is poised for unprecedented growth, bolstered by a team of industry veterans incentivized with ESOPs.

Mr. Sanjiv Gupta, stated “In every venture I’ve embarked upon, from revolutionizing the beverage industry to elevating India’s cargo airline sector, the constant has been a relentless pursuit of excellence and a transformative vision. Today, as Bluwheelz secures pivotal funding, we are on the cusp of seizing a greater share of the EV market. This is more than an expansion; it’s a commitment to redefine mobility and logistics through sustainability and innovation. We stand at the forefront, ready to steer the electric revolution in logistics, building not just a company, but an ecosystem that propels us towards a future where progress and the planet move forward together.”

BluWheelz’s success is driven by its differentiated strategies, including strong partnerships with top vehicle OEMs like Eicher-Volvo and Tata Motors, an innovative low-cost, high-impact franchise model, comprehensive technology integration, and strategic alliances for charging and parking infrastructure. These initiatives underscore BluWheelz’s commitment to operational efficiency, cost-effectiveness, and sustainability.

“With the successful completion of our latest funding round, Bluwheelz is poised to cement its dominance in the mid-mile EV segment. This is a strategic leap towards our goal of expanding our electric fleet with the introduction of cutting-edge 4-wheelers and 6-wheelers, in collaboration with leading OEMs. Our unwavering focus remains on bridging the gap between technological innovation and practical urban logistics solutions, as we gear up to meet the burgeoning demand for eco-efficient fleet services. Together with our partners, we’re driving the future of delivery – cleaner, smarter, and further,” commented Mr. CP Sethi, CEO of BluWheelz.

As the Indian EV market continues to flourish, projected to capture over 40% of the automotive market and generate more than $100 billion in revenue by 2030, BluWheelz is uniquely positioned to lead this transformation. With its rapid growth, strategic partnerships, technological advancements, and the support of esteemed investors, BluWheelz is poised to capitalize on this momentum, driving forward the adoption of electric vehicles across India.

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According to data presented by AltIndex.com, Tesla is the only loser among AI giants in 2024, with its stock value plunging by 30% year-to-date.

Unlike NVIDIA, Microsoft, Alphabet, and Meta Platforms, which continued adding trillions of dollars to their stock values amid the AI renaissance, Tesla, has seen a severe plunge in sales and stock price.

The once red-hot company, previously a member of the prestigious “Magnificent Seven” tech stocks, now holds the dubious distinction of being the worst performer in the S&P 500.

Several factors have contributed to this dramatic fall: slowing growth, safety concerns leading to recalls, price cuts, and missed sales targets. The combined effect has been a dramatic drop in Tesla’s stock price, wiping away hundreds of billions of dollars in market value within just three months.

Tesla’s market cap has been observed up-and-down trend over the past year. From $586 billion in April 2023, it climbed to $814 billion a month later, only to dip back down to $525 billion in May. This trend continued throughout the year, with the company adding and losing billions in value. Despite the volatility, Tesla managed to close December 2023 at a market cap of $831 billion.

However, starting from 2024 it was a downhill from. By January’s end, the company’s stock value had plummeted to $583 billion, representing a massive 28% drop in a single month. While the market cap reached a temporary high of $643 billion in February, it has been on a downward trajectory ever since. Last week, the combined value of Tesla shares stood at $550.9 billion, signifying a staggering $250 billion loss since the year began.

According to the alternative data platform AltIndex, which analyzes millions of data signals from thousands of publicly traded companies to forecast future price movements and overall company performance, investors should approach buying Tesla (TSLA) stocks with caution.

Based on its social media mentions, financial results, and neutral sentiment across popular stock forums, the AltIndex algorithm currently marks TSLA with a hold signal.

The full story and statistics can be found here: 

https://altindex.com/news/tesla-ai-stock-drop

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