Top VC deals: Chinese AI robots land $150 million; a high school esports league picks up a major league backer

Top VC deals: Chinese AI robots land $150 million; a high school esports league picks up a major league backer

Autodesk Autodesk president and CEO Andrew Anagnost. Autodesk this week agreed to buy construction software company PlanGrid for $875 million. The San Francisco-based start-up previously raised $69 million in funding from investors including YCombinator, Sequoia Capital and Tenaya Capital. PlanGrid enables real-time construction tracking for contractors and and architects. Autodesk “makes software for people who make things.” Start-ups Beijing-based robotics company Geek+ completed a $150 million Series B round from backers including Warburg Pincus, Volcanics Venture and Vertex Ventures. The company develops artificial intelligence and robotics technology for supply chain…

Read More

Beaumont to build new $40 million mental health hospital in Dearborn

Beaumont to build new $40 million mental health hospital in Dearborn

Beaumont Health is to announce details Monday about its plan to build a new mental health hospital in Dearborn in conjunction with Pennsylvania-based Universal Health Services. Construction on the $40 million free-standing hospital is to begin in early 2019 on eight acres of vacant land on Oakwood Boulevard near the Southfield Freeway. When it opens, the hospital — Beaumont’s ninth — will have space for 150 beds and will be operated and managed by UHS, which also will be the majority owner. With the addition of the new hospital, Beaumont will double its capacity…

Read More

Online education start-up Springboard raises $9.5 million funding led by Costanoa

Online education start-up Springboard raises $9.5 million funding led by Costanoa

Bengaluru: Online education start-up Springboard, which provides courses for professionals, on Monday said it has raised $9.5 million in a Series A funding round led by Costanoa Ventures, with participation from Learn Capital and Appdynamics founder Jyoti Bansal. Existing investors including Blue Fog Capital, Rocketship.vc and Moneta Ventures also participated in the round. Springboard has offices in Bengaluru and California. It focuses on skill-based courses like data science, user experience design and business analytics, among others. It will use the fresh funding to expand into newer verticals and geographies in India,…

Read More

Apple to Invest $390 Million in Texas-Based Chipmaker Finisar

Apple to Invest $390 Million in Texas-Based Chipmaker Finisar

Apple said on Wednesday it would invest $390 million (roughly Rs. 2,513 crores) in Finisar that it will use to build out a plant in Sherman, Texas to make chips that power popular iPhone features such as Face ID, Animojis, and Portrait-mode selfies. The award will be part of Apple’s $1 billion “Advanced Manufacturing Fund” to foster innovation and create jobs, Apple said in a statement. Finisar will use the funds to transform a shuttered, 700,000-square-foot manufacturing plant in Texas to a facility developing vertical-cavity surface-emitting laser (VCSEL) chips. “VCSELs power some of…

Read More

Internet grows to 331 million domain name registrations: VeriSign report

Internet grows to 331 million domain name registrations: VeriSign report

Domain name registrations have grown to 331.9 million in the second quarter of 2017 as approximately 1.3 million registrations were added during the period. According to VeriSign, a global leader in domain names and Internet security, 1.3 million domain name registrations across the globe translates to a growth rate of 0.4 per cent over the first quarter of 2017. Domain name registrations have grown by 6.7 million, or 2.1 per cent, year over year, the company said in the report. “The .com and .net top-level domains (TLDs) had a combined…

Read More

Paytm Mall eyes sales worth $500 million during festive season

Paytm Mall eyes sales worth $500 million during festive season

Paytm Mall on Wednesday said it expects to facilitate sales worth $500 million during the festive season through its platform. Like its rivals Amazon India and Flipkart, Paytm Mall is also offering a sale on its platform between September 20-23. “We are well on our way to achieve half a billion dollar of sales this festive season. We are giving a number of offers and discounts to consumers during the festive season,” Paytm Mall Chief Operating Officer Amit Sinha told PTI. Early this year, Alibaba-backed Paytm had spun off Paytm Mall…

Read More

Celebrity sale: Kylie Jenner sells her ‘starter home’ for $4.56 million

Celebrity sale: Kylie Jenner sells her ‘starter home’ for $4.56 million

The youngest member of the Kardashian-Jenner crew is the one with the most houses. Kylie Jenner is putting her $4.56 million ‘starter home’ on the market. Budding real estate mogul Kylie Jenner has reportedly sold her Calabasas, California starter house for $4.56 million. The 19-year-old social media maven purchased the Tuscan-esque style residence in March 2015 for $3.57 million and gave it a high-glam makeover with stark white walls, jet black timber, glitzy light fixtures and several smoked mirror panels. The approximately 474-square-metre residence has six bedrooms and 6.5 bathrooms. and is…

Read More

Zomato Hacked, 17 Million User Records Stolen; Claims Payments Data Is Safe

Zomato Hacked, 17 Million User Records Stolen; Claims Payments Data Is Safe

Zomato on Thursday admitted to a major security breach, where around 17 million user records – out of the company’s 120 million users – were stolen from its database. According to the company, usernames and hashed passwords were stolen by the attackers – the fact that the passwords were encrypted means that they will be harder to access, but such troves of data do eventually get cracked, so a sensible move would be to change your Zomato password right away, and also to change it on any site where you…

Read More

Pandora Explores Sale After Securing $150 Million

Pandora Explores Sale After Securing $150 Million

Pandora, which dominates Internet radio but has seen its model eclipsed by music streaming companies such as Spotify, said Monday it was open to buyers after securing a fresh $150 million (roughly Rs. 968 crores). Jim Feuille, the chairman of Pandora’s board who a decade earlier pushed the model of free access, stepped down with the announcement that private equity firm KKR was injecting $150 million. “Having secured a significant financial commitment from KKR to strengthen the company’s balance sheet, we have positioned the company to evaluate any potential strategic…

Read More

World Cancer Day: This Deadly Lifestyle Disease Kills Close to 9 Million Annually

World Cancer Day: This Deadly Lifestyle Disease Kills Close to 9 Million Annually

Undeniably, cancer has assumed a menacing character in the world of lifestyle diseases. According to the World Health Organisation, there were an estimated 14 million new instances of cancer in the year 2012 which are on rise ever since. According to the official reports, these numbers are expected to rise by a whopping 70% over the next twenty years. In the year 2015 close to 9 million people across the globe died due to cancer. Every 1 in 6 deaths in the world is caused by cancer which, at present,…

Read More