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VerSe Innovation, backed by Google and Microsoft, lays off 150 employees

150 employees—or 5% of its workforce—have been let go by VerSe Innovation, an Indian digital unicorn. For employees making more than 1 million rup

150 employees—or 5% of its workforce—have been let go by VerSe Innovation, an Indian digital unicorn. For employees making more than 1 million rupees $12,242 yearly, the company has also implemented an 11% compensation reduction, according to the corporation, in order to ensure longterm profitable growth. VerSe runs two platforms Josh, a shortvideo app with 100 million downloads, and Dailyhunt, a news aggregator with over 350 million monthly active users as of June. VerSe was valued at $5 billion after obtaining US$805 million in April, having been founded in 2007 by Umang Bedi and Virendra Gupta with the support of Google and Microsoft. This month, a wave of layoffs occurred in the Indian computer industry as a result of the present macroeconomic circumstances. Read More..

B2B Tech News | 2 years ago          

Inflation, debt pile up Ghanas economy under pressure

With widespread inflation that has reached approximately 40% and a sharp decline in value relative to the US dollar, Ghana is going through a severe e

With widespread inflation that has reached approximately 40% and a sharp decline in value relative to the US dollar, Ghana is going through a severe economic crisis. The scenario has led to numerous rallies against President Nana AkufoAddo in the West African nation. He attributed the problem to malevolent forces, which he used to describe the COVID and Russias invasion of Ukraine. The government of Ghana attributed some of the causes of the economic crisis on the epidemic and the conflict in Ukraine. But the nation also had to deal with the decline of the Cedi, its currency, which this year has had one of the worst performances globally versus the dollar. Read More..

B2B Tech News | 2 years ago          

Increased Fraud Detection and Identity Check FrankieOne raises another $23 million

Through an extension, FrankieOne has more than doubled its Series A round from last year. FrankieOne, a global API platform for identity verification

Through an extension, FrankieOne has more than doubled its Series A round from last year. FrankieOne, a global API platform for identity verification and fraud detection, has seen fourfold revenue growth in the last year. The company now operates in 48 markets, connecting banking, fintech, cryptocurrency, and gaming companies to hundreds of data sources. The Series A+ round is the most money ever raised by an Australian regtech company. The previous Series A round was worth $20 million, in addition to a $2 million seed round. Binance Labs and Kraken Ventures join as strategic investors in the companys latest round. Read More..

B2B Tech News | 2 years ago          

With $369 billion in assets under management, the Carlyle Group launches a new $3 billion campaign

Carlyle Group has raised $3.12 billion for a panEuropean technology fund with an investment target of 20 to 30 companies. The firm will commit to a ma

Carlyle Group has raised $3.12 billion for a panEuropean technology fund with an investment target of 20 to 30 companies. The firm will commit to a majority stake in the majority of these investments, but approximately 15% of the fund will be reserved for growth equity deals. The Carlyle Group focuses on lower midmarket and growthstage European B2B technology companies. Read More..

B2B Tech News | 2 years ago          

Director of SoftBank Investment Advisors resigns

Anna Lo left her executive position, which she has held since 2017. She had spent 16 years working for SoftBank and had also held the position of dire

Anna Lo left her executive position, which she has held since 2017. She had spent 16 years working for SoftBank and had also held the position of director at SoftBank Group International. Lo was based in Singapore to work on the SoftBank Vision Fund, which predominantly finances privately held businesses with an AI focus. According to reports, the Vision Funds portfolio worth decreased and it lost $50 billion in the first half of 2022. Read More..

B2B Tech News | 2 years ago          

Hyundai Motor and SK sign agreement to supply electric vehicle batteries for North America

Hyundai Motor Group of South Korea has struck a contract with battery manufacturer SK On to purchase electric vehicle batteries in North America. The

Hyundai Motor Group of South Korea has struck a contract with battery manufacturer SK On to purchase electric vehicle batteries in North America. The agreement comes after the U.S. Inflation Reduction Act, which was signed in August and mandates that automakers obtain a specific proportion of crucial minerals for their EV batteries domestically. Because it doesnt yet produce cars there, Hyundai Motor was not eligible for the subsidies. Read More..

B2B Tech News | 2 years ago          

Legal automation platform Josef secures $5.2 million to expand overseas presence

Josef, a Melbournebased provider of legal software, has secured a $5.2 million investment round from investors including OIF Ventures. The most recent

Josef, a Melbournebased provider of legal software, has secured a $5.2 million investment round from investors including OIF Ventures. The most recent financial infusion will be utilised to increase client acquisition for the business, especially for inhouse legal teams. Josef already works with companies like Who Gives A Crap, Nutanix, CoreLogic, and Bupa. According to a survey conducted by OIF Ventures and Carthona Capital, 59% of private businesses are increasing their use of technology as a result of COVID19. The study was conducted for Josef, a Londonbased company that specialises in digital legal services, and it includes the experiences of 156 inhouse attorneys and 670 lawyers in private practise. Read More..

B2B Tech News | 2 years ago          

Helping companies build and train computer vision AI faster through automation

V7, a firm based in London, has raised $33 million in a Series A fundraising round that will enable it to quadruple the size of its workforce and furt

V7, a firm based in London, has raised $33 million in a Series A fundraising round that will enable it to quadruple the size of its workforce and further develop in the US market. Unnamed employees from OpenAI, Twitter, and Amazon participated in the round, which was coled by Radical Ventures and Temasek. The use cases for V7s solution include robotic waste sorting, driverless driving, and applications that could save lives. Read More..

B2B Tech News | 2 years ago          



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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