Doxel Introduces AI Solution to Boost Productivity
Doxel,headquartered in Palo Alto, Calif., unveiled an artificial intelligence and computer vision-based system that delivers significant productivity increases to commercial construction projects. Doxel uses autonomous devices to visually monitor every inch of a project, then feeds this data to its proprietary deep learning algorithms. The algorithms then inspect the quality of installed work and measure installed quantities in real time. This enables project managers to react to inefficiencies almost immediately and boost productivity as much as fifty percent. In addition, Doxel announced a $4.5 million investment led by Andreessen Horowitz. “You can’t improve what you can’t measure. Without real-time visibility into quality and progress, managers simply can’t boost productivity. Our turnkey solution literally tracks progress for hundreds of thousands of line items in project budgets and schedules, comparing actual performance to original plans,” said its Indian American CEO and co-founder Saurabh Ladha. “This is transformative for an entire capital project team. With Doxel’s system in place, project managers can react in minutes, not months, increasing productivity by fifty percent and bringing in projects 25 percent under budget.”
Activate Capital Leads Stem Inc. Financing Round
Stem Inc., a leader in artificial intelligence-powered energy storage, announced the first close of its Series D financing with an $80 million investment from a group of leading technology investors led by Activate Capital. “Activate invests in fast growing companies with exceptional management teams that are transforming industries. Stem is clearly the leader in the energy storage market, offering a powerful AI and technology platform that creates significant value to those inside their network,” said Activate Capital managing director, Anup Jacob. The equity raise caps a record 2017 for Stem’s growth in system count, new market expansion, and partnerships, with more announcements to come in 2018. Stem now has hundreds of systems under management across five states and three countries — U.S., Japan and Canada.
Dr. Reddy's Laboratories Fined $5M
New Jersey drug company Dr. Reddy's Laboratories Inc. has been fined $5 million after cutting a deal with the feds over allegations that the company sold prescription drugs in non-child proof packaging, according to authorities, NJ.com reported. The company, a subsidiary of Dr. Reddy's Laboratories Limited, which is headquartered in India, was accused of knowingly using unapproved blister packs in 2012 despite objections from its employees, the Department of Justice announced, according to the report. "Dr. Reddy's failed to ensure that children were protected from potentially harmful prescription drugs," Acting Assistant Attorney General Chad A. Readler said in the report. "The government will continue to take seriously alleged violations of laws meant to protect consumer safety." As part of the consent decree, in which the company admits no wrongdoing, Dr. Reddy's will create a compliance program, the report said.
India's First Vegan Magazine Goes Global
Starting this weekend, VegPlanet will not just be available online or at a vegan café in Kolkata, but also at bookstores or health food markets across the U.S. and Canada including at Whole Foods Markets and Barnes & Noble bookstores, it said in a news release. Rising in popularity among India's growing vegan community and with over 100,000 people following them now on Facebook, VegPlanet has just passed its next milestone by being picked up by one of the leading magazine distribution companies in North America, it said. "When we heard the news, we were ecstatic, our vegan community based magazine going global – awesome," said Niranjan Amarnath, editor of VegPlanet Magazine. "VegPlanet's intentions have always been to be a community-based magazine – not just the community in our backyard, but also our common community around the world." VegPlanet prides itself on being a community-based magazine, inviting vegans, vegetarians, the 'veg-curious', animal rights activists, conservationists, wildlife protectionists and compassionate cooks and communities from around the world to come together and unite over important global issues, it said. VegPlanet's content is also going global and as Amarnath says will feature more stories from around the world that highlight the vegan, animal rights and environmental movements and the common ground we all share, the magazine noted.
Norwest Leads Dremio Series B Funding
Dremio, a self-service data company, announced that the company has closed $25 million in Series B funding. The round was led by new investor Norwest Venture Partners with participation from existing investors Lightspeed Venture Partners and Redpoint Ventures. With this investment, Dremio will continue to disrupt the data analytics market by further expanding its engineering and sales teams and increasing its international reach. Dremio has raised a total of $40 million. Founded in 2015, Dremio’s customers include leading organizations in the U.S., Europe, Asia and Australia. “For more than thirty years, companies have built software to unlock the value of data, but millions of data consumers remain unable to access the data they need to do their jobs,” said Rama Sekhar, partner, Norwest Venture Partners. “With a stellar team of big data and open source veterans from companies including Hortonworks, MongoDB and MapR, Dremio is the first company to solve this challenge by empowering data consumers—business analysts and data scientists—to be independent and self-directed in their use of data, from any source and at any scale, using their favorite tools. In addition, Dremio allows companies to seamlessly govern and secure this self-directed use with a true platform approach that is open source and designed for cloud, on-prem and hybrid deployment strategies.”
Tigera Raises $10 Million
Tigera, a company delivering solutions for secure application connectivity for the cloud native world, has raised an additional $10 million in funding to accelerate their mission to simplify and secure application connectivity across all cloud environments. The most recent round was led by Madrona Venture Group with participation from New Enterprise Associates and Wing Venture Capital, and brought total funding to more than $23 million. Soma Somasegar, managing director at Madrona Venture Group, has joined Tigera’s board of directors. “Nearly every enterprise we speak with has a near term initiative to deliver cloud native applications,” said Ratan Tipirneni, president and CEO of Tigera. “Those applications are more dynamic, more distributed, dynamically orchestrated and running across multiple clouds. Workloads, networks and infrastructure in these environments can't be trusted, yet secure application connectivity is non-negotiable.”