Mahindra Partners, the Incubation, Private Equity & Venture Capital division of the Mahindra Group, announced its participation in the $26 million Series B fundraising of Cloudleaf, Inc., an emerging leader in digital supply chain solutions based in Silicon Valley. Mahindra Partners participated in the Series A round of Cloudleaf in 2017. Cloudleaf’s mission is to create significant value across the end-to-end supply chain network with its Supply Chain Digital Visibility Platform, which brings unprecedented visibility, efficiency and responsiveness to supply chains in any industry. Using IoT, AI/ML and advanced analytics, Cloudleaf creates a digital twin of the supply chain and processes billions of events per second to deliver diagnostic and predictive insights in real-time for location, condition, utilization and anomaly detection. “Cloudleaf’s growth has been impressive as the company is quickly establishing itself as the new industry standard for actionable visibility in a broad spectrum of enterprise supply chains. Our follow-on investment in Cloudleaf is driven by strong global synergies with the Mahindra Group and Tech Mahindra as a go-to-market partner in the United States,” says Amit Sridharan, director of U.S. Venture Investments, Mahindra Partners. “We are pleased Mahindra Partners, an early and valued investor and strong supporter of Cloudleaf, participated in our Series B funding,” says Mahesh Veerina, president and CEO of Cloudleaf. “Mahindra Partners, the Mahindra Group and Tech Mahindra will be invaluable partners in our GTM and global expansion.” Cloudleaf is one of the many investments that Mahindra Partners is making as the company continues to increase its engagement with startups and connect with the external venture ecosystem in the United States.
Jio, Microsoft Join to Accelerate Digital Transformation in India
Reliance Jio Infocomm Ltd., a subsidiary of Reliance Industries Limited, and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of the Indian economy and society. This 10-year commitment combines the world-class capabilities of both companies to offer a detailed set of solutions comprising connectivity, computing, storage solutions, and other technology services and applications essential for Indian businesses and will span the broad Reliance Industries ecosystem including its existing and new businesses, a release said. In combining efforts, Jio and Microsoft aim to enhance the adoption of leading technologies like data analytics, AI, cognitive services, blockchain, Internet of Things, and edge computing among small and medium enterprises to make them ready to compete and grow, while helping accelerate technology-led GDP growth in India and driving adoption of next-gen technology solutions at scale. “Jio is delighted to partner with Microsoft in our efforts to further deepen the use of technology on scale to all Indians,” said Mukesh Ambani, chairman and MD of Reliance Industries. “This is a unique and first-of-its-kind partnership that brings the capabilities of two large companies focused on creating significant value to Indian enterprises — small and large. By working together to develop innovative and affordable cloud-enabled digital solutions built around Jio’s world-class digital infrastructure and Microsoft’s Azure cloud platform, we will accelerate the digitization of the Indian economy and make Indian businesses globally competitive. This will be a showcase to the world to demonstrate tech-enabled value creation that is both exponential and inclusive.” Added Microsoft’s Indian American CEO Satya Nadella: “We have an incredible opportunity to apply advances in technology to help organizations across India innovate and grow. The combination of Jio’s leading connectivity and digital solutions with Azure, Azure AI and Office 365 will bring powerful tools and platforms for compute, storage, productivity and more to millions of businesses in the country.”
Clumio Announces $51M in Funding
Clumio, innovator of authentic SaaS for enterprise backup, announced $51 million in funding from leading Silicon Valley investors and officially launched its flagship backup as a service product. With this new service, enterprises can eliminate hardware and software for on-premise backup and avoid the complexity and cost of running 3rd party backup software in the cloud. By taking full advantage of cloud scale, economics, and elasticity, there is now a secure and efficient way to protect on-premise, VMware Cloud for AWS, and native AWS service workloads. Clumio was founded in 2017 by serial entrepreneur Poojan Kumar, co-founder and former CEO of PernixData, alongside Woon Ho Jung and Kaustubh Patil who bring strong engineering and leadership backgrounds from VMware and Nutanix. The company announced $51 million in funding received over two rounds. Clumio is a secure, backup as a service that consolidates the protection of an enterprise data center and any remote sites with no hardware or software to size, configure, manage – or even buy at all. As enterprises move aggressively to cloud, they can use Clumio to protect workloads like VMware Cloud on AWS and native AWS services. “Enterprise workloads are being ‘SaaS-ified’ because IT can no longer afford the time, complexity and expense of building and managing heavy on-prem hardware and software solutions if they are to successfully deliver against their digital transformation initiatives,” said Kumar. “Unlike legacy backup vendors, Clumio SaaS is born in the cloud. We have and can leverage the most secure and innovative cloud services available, now and in the future, within our service to ensure that we can meet customer requirements for backup, regardless of where the data is.”
Brinks Can Ship Custom Clothes to India in 3 Days
Binks is a custom clothing startup created after co-founder and CEO Aamna Khan realized how frustrating it is to find well-fitting women’s workwear in Indian cities. Currently participating in Y Combinator’s accelerator program, Binks solves the problem by using computer vision and machine learning to provide customers with clothing sewn to their measurements, shipped in just three days. Khan says shopping online is often difficult because a standardized Indian sizing chart hasn’t been developed yet. Clothing companies use a mix of U.S. and European size charts, often resulting in inaccurate sizing, according to a TechCrunch report. In big cities like Bangalore, where the company is based, there are a lot of tailors, but getting clothing fitted and sewn is a time-consuming process. “The tailoring market has not moved with the times, so the experience of getting something tailored is the same as it was 10 years ago. You have to buy fabric, give your measurements to the tailor, then there are usually a couple of fittings, and all of this means physically visiting the shop,” Khan told TechCrunch. “It’s very tedious for Indian women who are leading a busy life but still want well-fitting clothes.”
By GIOVANNI ALBANESE Jr., India-West Staff Reporter