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Spacetech startup OQ Technology raises €13 million in Series A investment round

A 13 million euro series A fundraising round for OQ Technology, a global 5G IoT internet of things satellite operator, has closed. Utilizing small sat

A 13 million euro series A fundraising round for OQ Technology, a global 5G IoT internet of things satellite operator, has closed. Utilizing small satellites in low Earth orbit, the companys technology enables applications needing quick and realtime data processing in remote and rural locations. OQ Technology, a world leader in satellite technology, has received investments from Waed Ventures and 5G Ventures. One of the largest data and network operations centres in the Middle East will be housed by the Saudi subsidiary for 5G satellite services. The only 5G space network operations centre in the MENA area, it is the first of its kind in the kingdom. Read More..

B2B Tech News | 3 years ago          

Tencent and Sony buy a stake in developer Elden Ring for $260 million

Tencent Holdings and Sony have acquired a 30% stake in Elden Ring game developer FromSoftware. The combined investment is worth around US$260 million,

Tencent Holdings and Sony have acquired a 30% stake in Elden Ring game developer FromSoftware. The combined investment is worth around US$260 million, with Tencent and Sony paying US$140 million and US$120 million, respectively. As a result, Tencent now owns 16.25% of FromSoftware, while Sony Interactive Entertainment owns 14.09%. The rest is owned by Japanbased Kadokawa Corporation. Kadokawa said the three companies have operated a strategic alliance in the fields of anime and gaming since 2021. Recent investments will be used to expand FromSoftwares expansion into global markets. Before that, the game studio was also known as the creator of the Sekiro Shadows Die Twice and Bloodborne Dark Souls series. Read More..

B2B Tech News | 3 years ago          

Russia and South Korea cooperate to build Egypts Dabaa nuclear power plant

Korea Hydro and Nuclear Power secured a $2.25 billion deal from an affiliate of Russias staterun nuclear energy company Rosatom. In 2015, Egypt and Ru

Korea Hydro and Nuclear Power secured a $2.25 billion deal from an affiliate of Russias staterun nuclear energy company Rosatom. In 2015, Egypt and Russia agreed to build a fourunit power plant with a total capacity of 4,800 megawatts for $30 billion. Under the 2015 contract, Rosatom is required to build the Dabaa plant, supply nuclear fuel throughout its life cycle, and provide operational and technical support. Egyptian Energy Minister Abdel Nabi AbdelNabi has said that Russia and South Korea are the two best options to build the Dabaa nuclear power plant in Egypt. The United States greenlighted South Korea to work on the project, given the economic sanctions imposed on Russia. Direct economic repercussions may emerge from working with Russia amid the sanctions signed on Moscow, which target Russian industries, according to Widdershoven. Read More..

B2B Tech News | 3 years ago          

Asian equity markets mixed ahead of the latest US employment reading

Asian stock markets were mixed ahead of U.S. Employment data that may influence plans for further rate hikes. A strong reading gives ammunition to Fed

Asian stock markets were mixed ahead of U.S. Employment data that may influence plans for further rate hikes. A strong reading gives ammunition to Fed officials who say higher interest rates are needed to slow economic activity. The Chinese government ordered most residents of Chengdu, a city of 21 million people to stay home following new virus outbreaks. Closes The S&P 500 ends the month with a 4.2% loss, its worst monthly performance since July. The Dow Jones closes up 0.5%, but the Nasdaq sees its fifth daily drop in a row. In energy markets, benchmark U.S. crude rises $1.65 to $88.26 per barrel, after plunging to $86.61 on Thursday. Read More..

B2B Tech News | 3 years ago          

The tech fund examines the potential rescue of Newport Wafer Fab

An investment fund has been formed to launch a rescue bid for Welsh chipmaker Newport Wafer Fab. It is reported to be in talks to raise £500 million

An investment fund has been formed to launch a rescue bid for Welsh chipmaker Newport Wafer Fab. It is reported to be in talks to raise £500 million about €590 million or US$590 million for use across multiple investments. The fund is also in contact with Ron Black, boss of chip design firm Codasip and former CEO of Imagination Technology. Black is understood to have £300 million of funding and has indicated he is interested in supporting NWF. Nexperias takeover of Newport Wafer Fab was the subject of a UK government inquiry into the state of the semiconductor industry in the UK and its ability to supply chips. The board of directors of NWF wrote to Business Secretary Kwasi Kwarteng seeking protection from the takeover, but the UK government declined to act at that time. Read More..

B2B Tech News | 3 years ago          

OQ Technology raises 13 million euros for 5G IoT by satellite

OQ Technology has raised €13 million for spacebased Internet of Things 5G technology. The round was led by Waed Ventures and Phaistos Investment Fun

OQ Technology has raised €13 million for spacebased Internet of Things 5G technology. The round was led by Waed Ventures and Phaistos Investment Fund, a venture arm of Aramco a Saudi oil and gas company. OQ Technology is currently establishing two subsidiaries. One is in Athens, Greece and the other is in Al Khobar, Saudi Arabia. This follows an R&D lab in Luxembourg. Waed Ventures has invested in OQ Technologys Saudi Arabian subsidiary and its Greek subsidiary. The Saudi subsidiary will host the first and only satellite 5G network center of its kind in the Kingdom and the MENA region. It will also be one of the largest data centers and network operations for 5G satellite services in the Middle East. Read More..

B2B Tech News | 3 years ago          

Travelogix integrates Tres Technologies with an eye toward the US

British data and analytics company Travelogix has taken a major step forward in its plans to expand into North America. Founded by Lee Rosen, Tres Tec

British data and analytics company Travelogix has taken a major step forward in its plans to expand into North America. Founded by Lee Rosen, Tres Technologies provides CRM, administration, and management systems for travel agencies and consultants. The move provides North American TMCs and their clients with realtime data, analytics, and compelling service solutions through the UK companys products. Chris Lewis, founder, and CEO of Travelogix, said the partnership strengthens our progress in North America and allows our team to execute the plan we outlined at the beginning of the year. Read More..

B2B Tech News | 3 years ago          

Bounty seekers are drawn to open source projects by Google

Google has added a bug bounty program focused on its opensource projects. Confirmed bugs in the Go language or Fuchsia operating system will earn thei

Google has added a bug bounty program focused on its opensource projects. Confirmed bugs in the Go language or Fuchsia operating system will earn their discoverers between US$100 A$147 and US$31,337 a hattip to calculatorspeak for eleet. Other highprofile projects include the Bazel build system and Protocol Buffers used to serialize structured data. The program is aimed at vulnerabilities that lead to supply chain compromise, design issues resulting in product vulnerabilities, and other security issues such as sensitive or leaked credentials. There are three project stages covering flagship projects. Read More..

B2B Tech News | 3 years ago          



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