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TiE Mumbai Bets Big on Promising Startups: Invests in EasyFi and Odd Giraffe’s Angel Funding Round

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Over the years, TiE Mumbai has played a significant role in promoting, mentoring, helping and funding startups in this region. TiE Mumbai represents over 2,500 startups in the Greater Mumbai Region. It has successfully connected and mentored over 2,000 entrepreneurs and startups over the last few years, over 1,000 startups have been successfully connected to investors.

Commenting on TiE Mumbai’s angel investments in startups, Atul Nishar, President, TiE Mumbai, said, “TiE Angels handholds idea stage entrepreneurs, helps them build out a business model, then invests and backs up with constant mentoring to help scale up the next level. TiE’s global network of charter members bring in their expertise, global customer connects and money to build great unicorns.”

He further added, “At a time of depleting early stage funding, TiE Angels Mumbai continues to spot and support promising entrepreneurs and businesses.”

As a part of its ongoing endeavour to assist startups, and venture into newer domains, TiE Mumbai has participated in the angel funding round and invested in a unique sphere of wireless, centralized, community-focused virtual Wi-Fi infrastructure through EasyFi. A product of WI Digital Service Pvt. Ltd., EasyFi is a Wi-Fi and Data Network aggregator that aims at reducing infrastructure clutter and enhancing network coverage for service providers by deploying a virtualized wireless infrastructure and network resources for end-consumers. This investment will facilitate last-mile Wi-Fi and Data Network provision by offering a virtual infrastructure to ISPs, telcos, and cable TV providers for access to end consumers.

Bhushan C Thakkar, Founder, WI Digital Services, elaborated, “Our Company was established with an aim to facilitate providers across remote locations of the country in delivering the fastest internet connectivity for users at the last-mile. With the funds raised in this Angel Funding Round, we strive to accomplish network partnerships across 25 new locations, scaling up to approximately INR 2 lakh daily users. Furthermore, we are looking forward to subsequent rounds of funding to further our vision and tread ahead on our path towards establishing EasyFi as the most optimal network solution across India.”

In another bid to continuously supported young businesses in India, TiE Mumbai has invested in Odd Giraffe, a newly launched design-led lifestyle brand based in MumbaiOdd Giraffe creates fun, colorful and aesthetically pleasing stationery and accessories for the young, independent women of today. They help people achieve their dreams of organizing effectively and creatively. Their annual planners are our flagship product. With more than 5500 happy customers planning and organizing with their planners, they also actively collaborate with brands to make office desks and stationery more fun and exciting. They are soon going to launch other types of stationery items, desk accessories, phone cases, drinkware, home decor, and apparel.

Karan Joshi, Founder, Odd Giraffe, said, “Associating with TiEMumbai has been great. With the help of the funds and guidance from investors, we were able to expand our production and reach out to a wide audience this time. I think it’s a great step taken by TiE Mumbai to help the ideation stage startups raise their first cheque. We are excited to launch new products in the coming months.”

 

SOURCE The Indus Entrepreneurs (TiE)

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Bleckwen Raises $10m and Appoints David Christie as CEO

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Bleckwen, a provider of real-time analytics software for fraud detection & prevention in payments, has come out of stealth to announce a $10 million first funding round. The funding will be used to support Bleckwen’s international expansion and the continued development of the company’s exciting software capabilities in AI-based fraud detection. The company’s expertise is strategically focused on the wider anti-money laundering (AML) and counter-terrorism financing (CTF) context. Bleckwen recently spun-off from Ercom, the French cybersecurity firm. The round was led by Ring Capital, a Paris-based venture capital firm and existing investors, including TempoCap, Bpifrance and Ineo, alongside senior management.

Built with banks, for banks, Bleckwen’s real-time, dynamic behavioural analytics & explainable AI-engine is well placed to detect the surging fraud threats in payments, such as authorised push payment fraud or the “human hack” which is growing by circa 60% year-on-year, driven by the surge in real-time payment networks globally. The platform also protects banks from the emergent risks of open banking under PSD2, where banks will no longer have full control of the end-to-end user experience and security perimeter, presenting a completely new threat dimension.

Over the last year, the company has also strengthened its management team with the hire of David Christie, a 20-year veteran in financial services, previously the COO of Euronet’s money transfer business, which included the brands Ria, HiFX and XE. David is also Chairman of VitessePSP and investor in Shieldpay, bringing with him a wealth of experience implementing and operating both fraud and AML systems in payment businesses.

David is also joined by Matt Knowles, who was recently appointed Chairman of Bleckwen. Matt was previously CEO of HiFX, and together he and David successfully scaled HiFX into a world leading international payments company prior to its successful sale to Euronet.

David Christie, Bleckwen’s CEO, commented: “Nearly $4 trillion is stolen and laundered through banks annually – circa 3% of global GDP. Existing technologies are just not cutting it in the fight against this scourge of society. Something else needs to be done and at Bleckwen, we have made tremendous progress over the last two years as part of the Ercom Group, developing solutions to bring the fight to these criminals.”

“This fundraising is confirmation of our ‘scale-up readiness’ and the support from  Ring Capital and our existing investors is testament to our expertise in productising class-leading AI-based analytics in the fight against financial crime for banks. Using Bleckwen’s software, we are seeing false positive ratios drop by over 95%, the time taken to resolve alerts fall by over 50%, and a reduction in fraud loss ratios by over 60% – as compared with incumbent legacy-based rules systems.”

“Working very closely with our customers, which include a tier-1 global bank, we have developed a market-leading, payment-type agnostic, real-time capability to meet their fraud detection and prevention requirements at industrial scale. Bleckwen’s software can also dynamically adapt to ever-changing customer behaviours and profiles. We have also significantly strengthened our senior management team and operational infrastructure and will be opening offices in the UK and the US in 2019.”

Matt Knowles, TempoCap Partner and Bleckwen Chairman, commented: “Having co-founded and scaled an international payments company that processed $20 billion annually, I have extensive real-world experience of the challenges faced by both fintechs and banks in of the domain of fraud detection and AML. I have been deeply impressed by Bleckwen’s advanced use of machine learning technology to radically increase fraud detection over current solutions, but, as importantly, substantially reduce the volume of false positives (which build friction and cost into the customer journey). We see significant potential to commercialise this technology across banks, fintechs & other multi-national enterprises to help combat fraud and AML risk across all payment types.”

Nicolas Celier, co-founder of Ring capital, commented: “Bleckwen has appeared to us as the unique combination of state-of-the-art AI technology, built by a leading French data team, together with top international management with a solid track record of scaling up Fintech companies worldwide. Ring knew Bleckwen before the spin-off and has contributed to design this deal in order to help Bleckwen grow and scale.”

Thierry Sommelet, Managing Director at Bpifrance Growth Capital – Head of Technology, Media, Telecom, said: “Bleckwen is uniquely positioned to help the fast-moving payments ecosystem improve clients’ protection and transaction efficiency, thanks to a leading-edge AI technology and experienced management. We are very happy to see David Christie and Matt Knowles join this adventure, as well as Ring Capital. We are confident that they will collectively thrive in driving the company on its new phase of growth.”

Bleckwen was recently awarded Fintech of the year at the EBAday 2019, an event run by the Euro Banking Association – an expert-led forum for the European payments industry with nearly200 member banks. Selected out of a category of 16 other finalists, the company received the prestigious award based on the innovative and dynamic nature of its market-leading AI-powered platform.

 

SOURCE Bleckwen

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KLoBot – An Enterprise Chatbot Builder Platform launches Twilio Integration to Enhance Customer Experience

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KLoBot – a DIY Chatbot platform is pleased to set in motion the much-awaited integration to Twilio. With technology and social media enabling an always-on approach to business, customer expectations have been higher. Voice and Text enabled chatbots empower customer-facing organizations across numerous industries to communicate and engage with every end user seamlessly.

To learn more about KLoBot, visit us online – www.klobot.ai

“Businesses must support ease of chatbot interactions for their customers using traditional communication such as a simple phone call or text messaging,” said Ragav Jagannathan, Founder of KLoBot, Inc. “With KLoBot based chatbots readily available on Twilio platform, businesses can offer their customers 24/7 first line of support using a simple voice call or SMS to a phone number and automatically have chatbot respond to their query.”

Customers can get access to information ‘on-demand’ via a simple text message or voice call in real time. These cutting edge, no-code chatbots streamline communication and enhance customer engagement. If the requests get complicated, they are smoothly transitioned from bots to human via KLoBot’s ‘Live Agent Handoff’ skill. Watch Video

KLoBot and Twilio, together, will allow companies to manage customer relationship via automating routine tasks and processes. Early adopters of KLoBot can drastically save operation costs, improve sales, offer personalized customer service and in turn, gain a sustainable competitive advantage by discovering the benefits of this KLoBot and Twilio compelling integration.

 

SOURCE KLoBot, Inc.

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Synopsys and GLOBALFOUNDRIES Collaborate to Develop Broad Portfolio of DesignWare IP for 12LP FinFET Process

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Highlights:

  • DesignWare IP portfolio for GLOBALFOUNDRIES 12LP FinFET process includes Multi-Protocol 25G, USB 3.0 and 2.0, PCI Express 2.0, DDR4, LPDDR4/4X, MIPI D-PHY, SD-eMMC, and Data Converters
  • Synopsys’ DesignWare IP are optimized for high performance and low latency in compute-intensive applications, such as artificial intelligence, high-end smartphones, and networking infrastructure
  • Long-standing collaboration between the two companies has resulted in the successful development of DesignWare IP from 180-nm to 12-nm

Synopsys, Inc. (Nasdaq: SNPS) today announced its collaboration with GLOBALFOUNDRIES (GF) to develop a broad portfolio of DesignWare® IP, including Multi-Protocol 25G, USB 3.0 and 2.0, PCI Express® 2.0, DDR4, LPDDR4/4X, MIPI D-PHY, SD-eMMC, and Data Converters, for GF’s 12-nanometer (nm) Leading-Performance (12LP) FinFET process technology. Synopsys’ DesignWare IP on the GF 12LP process enables designers to implement the latest interface and analog IP solutions in their artificial intelligence (AI), cloud computing, mobile, and consumer system-on-chips (SoCs) on GF’s 12LP technology, which delivers a 10 percent improvement in logic density and more than a 15 percent improvement in performance compared to previous FinFET generations. This collaboration is another extension to the long-standing relationship between the two companies, which has delivered DesignWare IP for GF’s processes from 180-nm to 12-nm.

“In response to growing demand for differentiated, feature-rich FinFET offerings, we are collaborating with Synopsys to provide quality IP in GF’s processes, enabling designers to deliver differentiated products to a broad set of market segments,” said Mark Ireland, vice president of Ecosystem Partnerships at GF. “The combination of our 12LP process with 3D FinFET transistor technology and Synopsys’ high-performance DesignWare IP allows our mutual customers to accelerate their time to volume production.”

“As the leading provider of interface IP, Synopsys continues to collaborate with key foundries, such as GF, to deliver DesignWare IP solutions for the latest FinFET process technologies,” said John Koeter, vice president of marketing for IP at Synopsys. “With Synopsys’ DesignWare IP portfolio in GF’s 12LP process, designers can efficiently integrate the necessary functionality into their complex SoCs while meeting the bandwidth and power requirements of their mobile and high-end computing applications.”

 

SOURCE Synopsys, Inc.

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