Invoice Bazaar, a FinTech Supply Chain Finance platform with presence across Asia announced an undisclosed investment in online document exchange platform ODeX. ODeX, a one stop solution provider for digitizing the shipping ecosystem, is a market leader in its vertical and has a product used by all the shipping stakeholders in India.
Artificial Intelligence (AI) has been subject to a fair share of debates including concerns around machines overtaking, or even replacing, the human workforce. However, ground realities suggest the main concern should be the acute shortage of skills. Further, since the skillset of a data scientist needs to constantly evolve along with technology, the demand-supply gap is only growing further. In countries such as India, AI adoption is driven by the evolution of the IT infrastructure. According to the IDC Cognitive User Adoption Survey (2017), an overwhelming majority of Indian organizations (nearly 70%) — have either adopted or have plans to leverage cognitive capabilities in the next 18 months. This includes a combination of pilot and enterprise-wide deployments. Overall, industries are expected to experience more AI use cases in the near future — from digital shopping assistants in retail to carefully curated teams in sports, and factory automation systems in manufacturing.
Canadian Billionaire Prem Watsa owned Fairfax India Holdings has proposed to buy a 51% stake in Thrissur based lender Catholic Syrian Bank for a total consideration of around Rs.1,200 cr. The deal would happen at a mutually agreed price of Rs.140 per share.
Self-drive car rental company Zoomcar India has raised $40 million (Rs.255.4 cr.) in its latest round of funding, which was led by automotive major Mahindra & Mahindra. Zoomcar stated that the new funding round will enable it to hit over 15,000 subscriber vehicles on the platform before the end of 2018.
Aye Finance, a Gurugram-based small business loan provider has raised Rs.25 cr. through a securitization deal from investors including Hinduja Leyland Finance and Intellegrow. The deal was facilitated by Vivriti Capital. The current funding round will be used to build the company’s loan book.
Subscribe to Breakfast Deals – our daily newsletter
* = required field