Key Signals in Enterprise Software
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Partnerships
Cohesity partners with Google Cloud to bring the power of AI to data security and management
Cohesity launches Cohesity Turing, an AI data security and management technology, with Google Cloud. Customers can use insights and improve backup, recovery, and ML/AI model deployment with Google Cloud’s Vertex AI. Data management and security solution. Read More>>
TGS and KONGSBERG to cooperate for data-driven solutions
KONGSBERG and TGS are collaborating to develop integrated data and digital solutions for the offshore wind industry. They aim to combine high-quality data with scalable and modular digital solutions to meet the needs of offshore wind clients. Read More>>
Aspira signs up to Cloud8s BEAM at Work Benefits Platform
Aspira and LEBC Group have partnered with Cloud8 to offer digital employee benefits to their clients. Cloud8’s BEAM at Work platform will be provided to Aspira on a license basis. The collaboration aims to deliver online benefits to clients of these leading employee benefits consultancies in the UK. Read More>>
Executive Movements
TRAX names Justin Daugherty Senior Director of Sales and Marketing
TRAX aims to expand its sales team. Daugherty brings experience from Ultramain Systems Incorporated and Virgin Galactic and holds an Airframe and Powerplant License with Inspection Authorization. Read More>>
Quanergy Solutions appoints John Moran as Vice President of Operations
Moran brings extensive experience in Engineering, New Product Engineering Management, Business Operations, and Quality Assurance, having held executive leadership roles at Cisco. Read More>>
Financial and Market Activity
VMware reports the fiscal year 2024 first quarter results
VMware, Inc. reported a 6% increase in revenue to USD 3.28 billion for the first quarter of fiscal year 2024. GAAP net income was USD 224 million, down 9% per diluted share, while non-GAAP net income was USD 644 million, up 16% per diluted share. GAAP operating income decreased 24% to USD 309 million, while non-GAAP operating income increased 6% to USD 819 million. Read More>>
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Key Signals in Consumer Software
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Partnership
Uber and Waymo will team up on Robotaxi service in the Phoenix area
In Phoenix, Arizona, Uber will use Waymo’s driverless cars for rides and food delivery. Waymo can expand its Robotaxi service and compete with Uber in the largest fully autonomous service area with this collaboration. Read More>>
Centre Setup and Expansion
Deliveroo expands its reach to new locations in Qatar
Deliveroo is expanding into various cities in Qatar, including Lusail, Old Airport, Nuaimi, Maamoura, Al Rayyan, and Umm Salal. The expansion allows restaurant partners to reach customers in these areas and provides more opportunities for riders to join the platform, reinforcing Deliveroo’s commitment to reliable delivery nationwide. Read More>>
Executive Movement
Djon Nacario will lead Lalamove’s strategy and operations as Managing Director
With Lalamove’s rapid growth, Nacario aims to strengthen the brand as a trusted delivery partner. Previously, Nacario held leadership positions at Carousell Philippines and Agoda in Southeast Asian markets. Read More>>
Product Launch
Instacart has a new AI-powered search feature
Instacart launches Ask Instacart, an AI-powered search tool that provides personalized recommendations, meal planning suggestions, and assistance for grocery shopping. The tool utilizes shoppers’ search history to tailor the app and services to their needs. Read More>>
Crypto.com unveils Payment Feature in the US, offering Rewards and a wide brand selection
Crypto.com introduces an exclusive one-time-use card feature allowing users in the United States to earn up to 10% Pay Rewards in CRO cryptocurrency. The card can be used for payments at popular brands like Apple, Nike, Walmart, Ray-Ban, and GameStop. Read More>>
Financial and Market Activity
Jumia records a 54% decline in operating loss to USD 31 Mn in Q1 2023
This significant improvement was attributed to successful cost-cutting strategies, including a 70% reduction in marketing expenses. Despite the reduction in costs, Jumia still managed to achieve revenue growth with a 24% increase on a constant currency basis. Read More>>
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Latest Industry Insights from Draup Braindesk
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Ideation
- Unavailability of AI Infrastructure – Companies wanted to integrate machine learning, but there were no standardized tools or infrastructure to solve this problem that Big Tech did for their in-house AI projects
- Data Labelling and Tagging – Since its launch, Scale AI was initially focused on tagging images and videos for self-driving cars and started off with its idea of creating AI infrastructure for the self-driving and autonomous segment of the automotive industry
Differentiation Overview
- Integrated Data Infrastructure – There aren’t many companies tackling the full scope of building a data foundation for the top AI-building companies. Scale AI is annotating the data, which is basically training AI with a very high-quality graph, called the ground truth data, as well as managing the data for the potential customers demanding it.
Scalability Roadmap
- Product level Scalability – Scale AI from more than labeling data; it has moved to a suite of software-based services designed to help companies gather, annotate, clean up, and manage data while also building and monitoring their AI models. It has developed and expanded its portfolio with products such as Scale Nucleus and Scale Rapid.
- Industry Level Scalability – The company cracked various industries right, from autonomous driving to Mapping, Robotics, AR/VR, Offline Retail, E-commerce, and Search and Natural language and Content Understanding, helping companies label and annotate their various types of raw data.
Sustainable Perspective
- Forever in Demand Focus – Enabling organizations to move from theory and deliver impact by managing their entire AI lifecycle by introducing active learning tools and model debugging tools as part of its model training and evaluation offerings.
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Key Funding Alert
OpenAI secures USD 175 Mn Investment Fund to empower AI startups
The fund surpassed its initial goal of USD 100 million and received 75% more funding than planned. The purpose of the fund is to support and empower AI startups in their growth and development. The fund attracted investments from 14 investors, including Microsoft. Read More>>
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Startup Spotlight
Company – Innovapptive
Total Funding – USD 42.01 Mn
About: Innovapptive helps improve people’s lives with the next-generation Connected Workforce Platform. Innovapptive’s platform digitally connects the entire industrial workforce, executives, and back office to minimize plant outages & improve operational excellence. Read More>>
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Latest Reports Published in Draup
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Here’s what’s new on our Sales Intelligence Platform
IT Spend analysis in an account’s financials view
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- Introducing IT Spend Analysis in an Account’s Financials view to help you understand the account spending propensity
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