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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According to data presented by Stocklytics.com, government internet shutdowns have cost the global economy more than $50 billion since 2019. In 2023, these shutdowns affected almost 750 million people worldwide and cost the global economy over $9.1 billion.

The Top10VPN data show that since 2019, nearly 600 major internet shutdowns across the globe, totalling more than 205,000 hours of disruptions.

Analyzed by year, 2019 saw the highest number of internet blockages, 134 lasting more than 19,200 hours. Statistics show 2022 remains the absolute record year in terms of total economic cost. That year alone, internet blockages cost the world economy a shocking $24.6 billion. That means almost half the five-year cost of internet blockages and shutdowns happened that year.

Still, 2023 saw the longest total duration of internet blockages. Although the total economic cost of government-caused internet shutdowns dropped by 60% to $9.1 billion, last year saw more than 79,000 hours of internet disruptions, the highest number in the past five years.

Analyzed by geography, Russia is undoubtedly the most affected nation by government-caused internet blockages and shutdowns. In 2023 alone, the total cost of internet and social media blockages in the country hit over $4 billion, while the five-year figures climb to over $25 billion, or half the world`s total in this period.

The Top10VPN data also showed that X, formerly Twitter, is generally the most blocked social media platform, suffering more than 10,600 hours of deliberate disruption in 2023, 26% more than TikTok and 18% more than Instagram.

Also, over half of all government internet outages last year were associated with additional human rights abuses, most frequently restricting freedom of assembly.

The full story and statistics can be found here:  https://stocklytics.com/content/the-world-economy-has-lost-over-50-billion-due-to-internet-shutdowns-in-the-past-five-years/

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Sheetal Bhalerao, expressing her enthusiasm for the initiative, stated, “Empowering women has always been a core value for us. With the #SheVentures initiative, we aim to provide skills and foster a community of strong, self-reliant women who contribute to the growth of our nation. Together, we can create a more inclusive and empowered society.”

Wardwizard Foods and Beverages will conduct thorough and comprehensive training sessions, guiding women on the preparation of delightful meals with QuikShef/Snack Buddy products. The initiative encourages home chefs to explore the potential of cloud kitchens, fostering innovation and entrepreneurial spirit. The company further extends its support by aiding home chefs in getting listed on popular food delivery apps and aggregators, offering guidance on essential FSSAI licensing, and assisting with other necessary compliances.

Women from all corners of the nation are invited to register on the dedicated website, where they will be personally contacted by the Wardwizard team for city-wise training sessions. In a gesture of support, the company will supply the first orders on credit, relieving home chefs of financial pressures and allowing them to concentrate on building their businesses until they start generating income.

As a token of recognition for their efforts, participants will be presented with certificates from Wardwizard, underscoring the value and validation of their contributions to the culinary landscape and their communities. Wardwizard Foods and Beverages Limited through this initiative set to make a lasting impact, inspiring women to take charge of their destinies and create a brighter future for themselves and their families. For further information and registration, please visit https://wardwizardfoods.com/sheventures.

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However, the implementation of AI has its own challenges, and according to the latest survey, proving the value of AI solutions to businesses might be the biggest one.

According to the data from NoKyc.com, 42% of IT professionals believe this is the leading challenge in AI implementation.

A recent survey conducted by Coleman Parkes found that 42% identified proving the value of AI solutions as the biggest hurdle in implementing them. The survey polled 1420 IT professionals and was published on Statista.com.

While proving value tops the list, other challenges also came to light:

• 38% of respondents cited a lack of tech infrastructure as an issue.

• 32% identified the storage of skilled AI talent as a challenge.

• 24% noted a lack of clean data.

• 22% expressed a general lack of trust towards AI-based decisions.

• 19% highlighted concerns about algorithm/model failure.

• Additionally, the inability to find the right data was a concern for 17% of respondents.

• 14% also expressed concerns about legal or compliance issues.

• ‘Lack of skills to exploit the results’ was cited as a hurdle by 11%.

• ‘Lack of clarity on success metrics’ was mentioned by 9%.

• ‘Lack of new use cases across the business’ garnered 7% of the votes.

In contrast, very few IT professionals complained about a lack of funding or commitment from senior management. Only 5% cited a lack of funding as a hurdle, and just 4% complained about the lack of commitment from senior management.

You can find the original story with graphs and statistics here: https://nokyc.com/blog/42-it-professionals-say-proving-value-of-ai-solutions-biggest-hurdle-in-implementation/

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Globally, the shift to renewables is happening at a fast pace. The primary sources of renewable energy being utilized include solar energy, wind energy, hydropower, geothermal energy, tidal energy and biomass energy. The shift to renewable energy is happening primarily due to the concerns about climate change and global warming. The other reason is that non-renewable sources such as oil and gas reserves are limited and will not last forever. To avoid a potential global climate catastrophe, use of fossil fuels is being minimized.

While the switch to renewable energy sources is inevitable, it makes us wonder how the oil industry and oil producing nations will manage this change. What will happen to the large workforce that is currently deployed in the oil industry? How will oil-producing nations deal with the threat of losing their primary source of income? How will the citizens of these countries be impacted, who currently have one of the highest per capita incomes in the world? To answer such questions, let us take a look at how the shift to renewable energy sources such as solar energy and wind energy will impact the oil industry and oil producing countries.

Gradual shift, not instant

While renewable energy sources are being harnessed at an industrial scale, it will still be several decades before oil is completely removed from the ecosystem. As per estimates provided by the International Energy Agency (IEA), oil demand is expected to reach its peak by 2025. Beyond that, there will be a steady decline in demand for oil.

However, oil will continue to be used by various industries. For example, sectors like aviation and shipping will take much longer to shift to renewable energy sources. Oil and gas will continue to be used in power plants and even for generating green fuels such as hydrogen. In comparison, the auto industry is expected to switch to electric much faster.

Economic diversification

Oil-rich countries such as Saudi Arabia, Iraq, United Arab Emirates, Iran, Kuwait, Qatar, etc. have stepped up focus on diversifying their economy. This is the only way for these countries to survive the switch to renewable energy sources. For example, Saudi Arabia is making big investments in solar and wind energy. It is also focusing on sectors such as tourism, banking and finance, pilgrimage, global supply chain and logistics and healthcare.

Economic diversification will help absorb the negative impact of the shift to renewable energy sources. People employed by the oil industry can be reskilled and shifted to other sectors. Assets and resources of the oil industry can be repurposed for various industries including renewable energy such as solar and wind energy. As the shift will be gradual, oil-producing nations have ample time to diversify their economies.

Shift in geopolitical landscape

Traditionally, oil-producing countries have enjoyed tremendous clout in the global political landscape. With the shift to renewable energy, oil-producing nations will see a reduction in their global influence. This will create a balance of power among nations. It is not necessarily something that is a negative development for oil-producing nations. As a matter of fact, the change in geopolitical landscape will prompt oil-producing nations to innovate and compete more aggressively, instead of being completely dependent on oil money.

Impact on oil industry workers

As the shift to renewables will be gradual, the oil industry will continue to function for several decades. However, since production is expected to decline gradually, some job losses will be unavoidable. It will be great if oil companies and governments can work together to launch special programs to protect the interests of people employed in the oil industry. As mentioned earlier, reskilling can be a great way to help oil industry workers impacted by the shift to renewable energy sources.

Focus on newer technologies

Fossil fuels are blamed primarily due to their high carbon footprint. However, things can change in the future with new technologies. For example, improved methods of carbon capture can reduce the pollution emitted via the burning of fossil fuels. Similarly, more efficient internal combustion engines can be developed to produce electricity or other green fuels.

Government policy and regulations

The overall impact on the oil industry and economy will depend on how prepared the respective governments are in dealing with the shift to renewable energy sources. With proactive policies and regulations, oil-producing nations can achieve a smooth transition.

Is it safe to invest in green energy stocks?

With the shift to renewable energy sources, one may consider investing in green energy stocks. However, it is important to choose the right stocks that have potential for growth. Some reliable green energy stock options one can consider include Adani Green Energy, Reliance New Energy, JSW Energy, KP Energy, Zodiac Energy, Websol Energy System, Borosil Renewables, NTPC, BF Utilities and Inox Wind Energy. It is important to do your own research and invest as per your risk appetite. For max gains, you may have to choose long-term investments in green energy stocks.

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The funds will be utilized to further enhance AutoVRse’s foundational enterprise product, “VRseBuilder”. It will also help AutoVRse expand its team with top-tier talent, and spearhead expansion efforts in the United States and expand their product suite.

The company also plans to set up a B2B sales team in the US to drive qualified lead generation and facilitate market expansion.

The company said VRseBuilder is “an end-to-end modular technology stack and SAAS platform to integrate VR into workflows of industries like manufacturing, construction, engineering, oil and gas, automotive, replacing ineffective manual instruction and/or expensive simulation techniques for purposes ranging from safety training, to sales and collaborative remote work.”

VRseBuilder offers a comprehensive suite of tools, including a VR content library, a VR-native Learning Management System, a deployment platform, and a Unity SDK with a user-friendly no-code editor. This modular approach enables enterprises to embrace VR technology for purposes such as training, design, and sales, thereby enhancing efficiency and safety while reducing costs.

Ashwin Jaishanker, and Adarsh Muthappa, Co-founders of AutoVRse, “Virtual Reality (VR) wields transformative potential across diverse industries. Our enterprise solutions offer a world-class, ready to use, modular technology stack with SAAS-enabled deployment for purposes ranging from worker safety training, to sales training and remote work design collaborations. An example of the real-world impact of our VR tech was our partnership with UltraTech Cements, where we deployed VR safety training modules across 51 plants in India and trained 50,000+ workers in VR—reducing factory incidents and saving lives. We leverage our in-house game studio to test, iterate, experiment and deliver immersive and cutting-edge innovative experiences for our enterprise clients. This cutting-edge research and cross-pollination of technology has also helped us create an immersive gaming experience with an original IP like District M.  Our vision is to build a foundational VR-OS (VR operating system) for enterprises, alongside world-class, meaningful, social, and fun experiences for consumers.”

Salone Sehgal, Founding General Partner of Lumikai, said, “AutoVRse’s technology and solutions for enterprises, compete with the global best. Their focus on innovation and providing scalable, VR-led solutions for very real problems facing heavy industries, coupled with their innovative, state-of-the-art gaming studio, is a powerful combination—paving their rise to becoming a world leader in the VR space. At Lumikai, we are super excited to be lead investors and partner with Ashwin, Adarsh, and the AutoVRse team to build a world-class, enduring AR/VR company.”

Yash Kotak, Founder and CEO of Jumper.ai, who said “Jumping into AutoVRSe was a no brainer. Right from the get-go with the founders and the team, I could feel the energy, the focus, and that unstoppable drive to conquer the VR scene. With its fundamentally strong tech, flawless execution, and a sky-high market potential, investing was a total blast from day one.”

Co-founder of TensorFlow and Inference.io, Rajat Monga, also added “AR/VR is where we are all headed, and with Oculus Quest (and now Apple Vision Pro), people think of consumer apps. I loved how Ashwin and the team understood the space and focused on enabling enterprises to bring their ideas to reality.”

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According to data from Stocklytics.com, financial firms will spend $45.2 billion on AI in 2024. This spending will grow by 30% each year, reaching $97 billion by 2027.

AI has made a big difference in finance. It helps companies predict their future earnings and profits more accurately. Also, AI can find fraud in large amounts of financial data. Many companies use AI to check contracts and invoices, which makes decisions faster and improves the whole process.

Collaborative data from Statista, the IMF, and IDC reveal that financial companies are expected to spend $45.2 billion on AI solutions this year. By 2025, spending on AI will reach $58.3 billion.

AI spending in finance will keep growing. In 2026, it will be almost $75.2 billion or $30 billion more than this year. By 2027, it will reach $97 billion, showing a huge 177% increase in just four years. Overall, financial companies will spend $275 billion on AI in the next four years.

AI can also boost the financial market’s growth rate. According to a study by Accenture and Frontier Economics, AI can potentially increase economic growth rates by a weighted average of 1.7% points across 16 industries by 2035.

Financial companies that use AI well could see their profits go up by 38%. It can increase their growth rates by 4.3% and boost their value by $1.2 trillion by 2035.

The full story and statistics can be found here:  https://stocklytics.com/content/financial-sectors-spending-on-artificial-intelligence-to-grow-by-30-per-year-and-hit-97-billion-by-2027/

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Data from AltIndex.com reveals that, the global ecommerce industry is expected to gross a whopping $3.64 trillion in 2024, or 15.6% more than last year. global ecommerce revenue spiked by 108% in five years, growing from $1.52 trillion in 2018 to $3.15 trillion in 2023.

Technologies such as artificial intelligence (AI), voice search, augmented reality (AR), and virtual reality (VR) have wiped off the differences between online and offline retail, turning ecommerce into the number one choice for hundreds of millions of people worldwide. As the popularity of shopping apps and online shops continues to rise, so do the market revenues.

According to a Statista survey, global ecommerce revenues are expected to jump by 15.6% year-over-year, almost 5% more than last year and hit $3.64 trillion in 2024. One-quarter of that value, or $922.5 billion, will come from electronics sales, the market`s largest and highest-grossing segment. Fashion sales will bring in around $760 billion, making 20% of total market revenue this year.

In global comparison, Asia, home to e-commerce giants Alibaba, AliExpress, JD.com, and Rakuten, remains the absolute leader in total sales revenue. Statista expects the Asian market to gross $1.93 trillion in 2024, 16% more than last year, accounting for more than half of global e-commerce revenue.

Although the United States is home to the world`s largest ecommerce company, Amazon, the US ecommerce industry is still far behind Asian countries in ecommerce sales. According to Statista, the US market will gross $930 billion this year, 15% more than in 2023, and make 25% of the world`s total. The European ecommerce industry follows with $600 billion in revenue in 2024.

Besides an impressive 15% revenue growth, the ecommerce market will also see a considerable user increase. Statista expects around 300 million people to flock to web shops and shopping apps this year, pushing the total user count to more than 3.4 billion, or 42% of the world`s population.

With roughly 300 million shoppers flocking to ecommerce each year, the total number of users is expected to hit over 4.6 billion by 2028.

The full story and statistics can be found here: https://altindex.com/news/global-ecommerce-rise

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