LONDON and WOODCLIFF LAKE, N.J., Oct. 14, 2020 /PRNewswire/ — Ori Biotech Ltd (Ori), a leading innovator in cell and gene therapy (CGT) manufacturing, today announced the successful close of a $30 million Series A financing round, bringing the company’s total funding to date to $41 million. The new funding will be used to help bring Ori’s innovative manufacturing platform to the market. The Ori platform delivers scalable solutions to flexibly address the critical clinical and commercial manufacturing needs of CGT developers.
The Series A investor syndicate was led by the experienced life sciences investment team at Northpond Ventures, a leading global science, medical, and technology-driven venture fund, alongside Octopus Ventures, a leading European venture fund. Northpond and Octopus invested alongside significant support from Ori’s existing institutional investors, Amadeus Capital Partners, Delin Ventures, and Kindred Capital.
“Closing a significant Series A round, during these uncertain
BENGALURU (Reuters) – Infosys Ltd on Wednesday raised its annual revenue growth forecast, after the Indian software services firm posted a better-than-expected quarterly profit, buoyed by growth in client demand for its digital services during the pandemic.
The company, co-founded by billionaire NR Narayana Murthy, revised its annual revenue forecast to between 2% and 3% in constant currency terms, from an earlier expectation of revenue being flat to up 2%.
Bengaluru-based Infosys, which provides services such as cloud, data and analytics to companies across the world, said it will also roll out salary increases, promotions across all levels effective Jan. 1.
“Infosys results today … signifies how important it has become for enterprises to invest in IT to weather any disruptive situation – be it pandemic or an economic recession,” Forrester analyst Ashutosh Sharma said.
Infosys reported quarterly operating margin of 25.4%, up from 21.7% last year,
JAXJOX, the Redmond, Wash.-based fitness technology company, has raised $10 million in a new funding round to help pay for the research and development of its signature InteractiveStudio workout equipment.
The Series A round included investors Dowgate Capital Ltd. and entrepreneur Nigel Wray, and brings total funding to $17 million for the 3-year-old company.
JAXJOX is getting set to release its InteractiveStudio smart gym, a home fitness system that includes digitally adjustable weights, AI-enabled connected tech built into the equipment, and live and on-demand classes.
With connected tech built into individual pieces of free-weight equipment, such as a smart kettlebell, users don’t have to stand a certain distance from a screen to have form and motion tracked.
“By monitoring performance metrics and using AI, we can give users a more holistic view of their health and provide recommendations on improving their wellbeing,” founder
The funding will be used to scale the startup’s services in Malaysia through product development, and building and expanding its product as well as technology teams
Free Book Preview Money-Smart Solopreneur
This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success.
3 min read
Opinions expressed by Entrepreneur contributors are their own.
GoGet announced on Tuesday that it has closed a Series A round of USD 2 million led by Monk’s Hill Ventures.
The platform connects multinational corporations, small and medium enterprises, and business owners to verified flexible workers who are also called GoGetters. It will also expand its sales and digital marketing teams to grow user acquisition.
“The traditional labor market is inefficient during these challenging times. Businesses especially SMEs need to find innovative ways to cut costs while being profitable. Our robust technology provides these businesses a cost-efficient
Groundbreaking AI Software Highlighted by Gartner As “Bringing AI Closer to Human Learning and Intelligence”
Company’s Stealth Mode Successes Include Tens of Millions in Revenue, Long-Term Contracts & Partnerships with the World’s Largest Consultancies & Fortune 500 Clients
BlackSwan Technologies launches as the world’s first enterprise AI operating system, enabling any company to leverage the most advanced artificial intelligence for an unprecedented level of operational efficiency and data-driven decision making. Since it began offering its technology to a limited customer base earlier this year, BlackSwan Technologies has generated tens of millions of dollars in revenue through multi-year contracts with many leading businesses. The company has also established a groundbreaking partnership with Deloitte to provide leading global banks an AI-powered platform that is already proven to increase revenue and drive efficiencies.
BlackSwan Technologies was recently recognized in Gartner’s 2020 Hype Cycle for Emerging Technologies report as a pioneer in “bringing AI
SEATTLE, Oct. 13, 2020 /PRNewswire/ — JAXJOX, the global fitness technology company known for its innovative workout equipment and platform, today announced a $10M series A round of funding with investors including Dowgate Capital Ltd. and entrepreneur Nigel Wray, bringing total funding raised to date $17M. The funding assisted in the research and development of the highly anticipated JAXJOX InteractiveStudio, which will ship to customers later this year, as well as global retail expansion. The InteractiveStudio is the first fitness platform to combine connected strength-training equipment with live and on-demand content, enabling users to track their own performance in real time during classes.
“With so much activity in the connected fitness space, we’re both delighted and excited to be part of JAXJOX’s movement to bring fitness and health
The container shipping company, which is eliminating hundreds of jobs, said earnings before interest, taxes, depreciation and amortization will be in the range of $7.5 billion to $8 billion, before restructuring and integration costs. That compares with an earlier forecast of $6 billion to $7 billion, according to a statement.
“The upgrade underlines the strong earnings momentum,” Brian Borsting, a credit analyst at Danske Bank A/S, said in a client note.
Copenhagen-based Maersk, which transports about 15% of the globe’s seaborne freight, said there was a “continued recovery in demand” in the third quarter. It reported revenue of $9.9 billion for the quarter, and an EBITDA before costs of $2.4 billion.
Maersk is undertaking a major restructuring as the
Opinions expressed by Entrepreneur contributors are their own.
You’re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Cloud kitchen operator Sweetheart Kitchen has successfully secured €15 million (US$17.7 million) in a Series C funding round backed by strategic investors, led by the company’s founder and CEO Peter Schatzberg.
As a delivery-only multi-brand virtual kitchen, Schatzberg notes that the Dubai-based company is keen to invest their funding into supply chain technology, food design and hiring talent, as they had previously done, and which they plan to continue to do so. “Scaling units is certainly one important objective for us, but we are also investing in streamlining our processes and systems to achieve profitability.”
As a company that is only 15 months old, it’s noteworthy to point out its impressive milestones. The startup (which, according to a Wamda report, is backed by Germany’s Delivery
On Monday, analysts at Cowen reiterated their Outperform rating on shares of Walmart while raising their price target to $160, up from $155. The $160 price target is based on ~29x analysts FY22 EPS estimate of $5.50, compared to consensus estimates of $4.99 per share. The Outperform rating is based on analysts believing in Walmart’s ability to accelerate its digital ad biz & drive upside to e-commerce profitability. Analysts project ad business revenue could reach $3.4bn+ by FY23 yielding 1.8% share of the digital ad market & 5% to EPS.
Walmart has some compelling prospects for ad biz growth. Walmart is in the very early innings of building its ad prowess, but analysts point to numerous positives helping to build momentum towards high growth opportunities; these include decisions to bring its media group in-house, the launch of various tools and analytics for greater control and insights for advertisers, and strong
These days when you found a startup, you don’t go out and buy a rack of servers. And you don’t build an in-house datacenter team. Instead, you farm out your infrastructure needs to the major cloud platforms, namely Amazon AWS, Microsoft Azure and Google Cloud.
That’s all well and good, but over time any startup’s cloud setup will become more complex, varied and perhaps multi-provider. Throw in microservices and one can wind up with a big muddle, and an even bigger bill. That’s the problem that Yotascale wants to attack.
And there’s money backing the startup’s progress, including $13 million in new capital. The round, a Series B, was led by Aydin Senkut at Felicis with participation from other capital pools, including Engineering Capital, Pelion Ventures and Crosslink Capital. Yotascale has now raised $25 million in total.
The funding event caught my eye, as I’ve heard startup CEOs discuss their