Self-driving car rental company Zoomcar has launched 25 electric vehicles at Miyapur metro station here for daily metro commuters.
The company introduced 25 Mahindra e2oPlus cars.
"This will help facilitate the travel of metro commuters looking to complete their last mile journey affordably with the convenience of self-drive", Hyderabad Metro Rail Limited (HMRL) Managing Director N V S Reddy said.
The EV rental charges currently start at Rs 8.50 per km and it is a cost-effective and eco-friendly option for commuters.
In the near future, Zoomcar plans to expand the service to enable one-way movement to Madhapur and Gachibowli for IT employees, who can use these services to commute between their office and metro stations.
Along with this, Zoomcar's cycle sharing service PEDL, has deployed around 500 cycles across Hyderabad (in Gachibowli, Madhapur, Ameerpet, Begumpet etc) for people to cover last mile connectivity.
The present charges are Rs 3 for 30 minutes.
"Hyderabad has shown a good response in terms of demand for both cycles and EVs and has also helped commuters save money and help the environment by adopting these eco-friendly and cost-effective modes of transport," Reddy added.
By Manu Sharma
India's leading venture capital firm - YourNest - announced that it will raise funds amounting to Rs 300 crore as its second round of funding. As India has the 3rd largest startup ecosystem and deep technology startups is superseding all other's expectation, YourNest will focus mainly on 3-4 deep technology startups and create unicorns over the next few years.
As per reports, deep technology offers an opportunities to reach 20 percent from current 7 percent of exports. Just as IT as a service outgrew expectations, YourNest portfolios of Fund 1 & Fund 2 are aligned with the trend and intend to enable disruptor's.
"Deep tech companies represent the next growth wave in India and are poised to grow exponentially, enabling Indian startups to become unicorns i.e. a start-up company valued at more than a billion dollars and also build global businesses," said Sunil K Goyal, Founder & CEO, YourNest Capital Advisors P Ltd.
He adds that YourNest wants to focus on advanced robotics and invest in firms that will automate manufacturing, improve healthcare for the elderly and make lives safer for those working in hazardous conditions. We are looking at startups in electronic system design, enterprise, SaaS, software delivery, automation, deep learning and artificial intelligence.
Some of the deep tech startups, YourNest has invested includes: emotix, arya.ai, pCoudy, Cove, Golflan, CRON Systems, Uniphore Software, mycity4kids, Rubique among others. Here are some of the startups, YourNest hopes to see emerging as 'Unicorns' over the next few years.
Future Unicorns
Miko: Miko is India's first children companion robot from Emotix. The firm is a new age Indian robotics and consumer electronics company founded on the pillars of Artificial Intelligence (AI), and Internet of Things has secured a $2M investment through funds advised by IDG Ventures India and YourNest. Founders Sneh Vaswani, Prashant Iyengar and Chintan Raikar have been building robots from their student days, but seeing an un-addressed market need with room for impact, the trio co-founded Emotix in 2014.
Emotix, is positioning its first product—Miko—as an emotionally intelligent companion robot capable of engaging, educating, and entertaining a child. The Emotix team spent almost two years perfecting the product and aims to launch more products in this space. Currently retailing for Rs 19,000 and sold in retail outlets and also on Flipkart and Amazon, Miko needs to be paired with a smartphone via Bluetooth and can provide three hours’ worth of conversations on one charge and about 1.2 hours of movements and conversation. Parents can also have access to a dashboard via a mobile app and can tweak Miko’s interactions with their children as they see fit.
pCloudy: pCloudy is owned by Smart Software Testing Solutions Inc. and was founded by former software testing experts at Oracle, Adobe, HCL Technologies, and Wipro. Collectively, they have over 50 years of experience and a strong understanding of the business challenges that enterprises encounter.
Their expertise has allowed them to design and integrate two signature cloud-based technology products, OpKey and pCloudy. Both tools focus on streamlining and improving the software development lifecycle by employing manual and automated testing. OpKey focuses on more traditional PC-based software while pCloudy targets the accelerated mobile application software space. These testing tools ensure that SSTS Inc. as a global industry provider of a complete software testing solution.
COVE & COVENET: Singapore-based IoT solutions company KaHa founded in 2015, the company, which also has offices in Switzerland, India and China, develops customisable IoT wearable platforms for companies under its brands COVE and COVENET. These white label solutions include electronics design, printed circuit board assembly, application framework for IoS and Android, cloud services, data analytics and smart after-sales service tool.
The firm primarily target consumer verticals such as health, wellness, sports and fitness, safety, smart payment, sensor-based gaming, smart fashion, home automation to smart automobile. Some examples of the products it has developed include smart bracelets, smart bands, full touch smart watches, smart T-shirts. According to a Analyst Gartner report, the global wearables market expected to grow 17 per cent this year with US$30.6 billion in revenues. Pawan Gandhi, Founder and CEO feels his company is primed and ready to meet the growing needs of this market segment.
VEGA: An end-to-end platform from Arya.ai, VEGA simplifies complex AI processes enabling developers and enterprises to focus on core product features. The startup was funded by Vinay Kumar Sankarapu and Deekshith Maria.
VEGA solves end-to-end deep learning product journey from building a neural network to production system design. Arya.ai is working in the banking and insurance and manufacturing sectors by deploying a man+machine ecosystem around VEGA to increase the efficiency of the performance, reduce the errors and track frauds. VEGA with features like agility,control, reliability, collaborate modelling and multi-functionally can jump start an enterprise, build the architecture and also the applications. Arya.in empowers its customers with a quintessential work bench, which enables companies to optimise deep learning from running their businesses successfully. The firm has banks and insurance customers in UK and are now targeting Indian customers.
Organise a special meet and greet activity with Godrej Expert’s Brand Ambassador and Actor R.Madhavan in Bangalore
Godrej Expert, India’s foremost and largest selling hair colour trusted by over 4.5 crore households, conducted a meet and greet event in Bangalore. This event was held to engage consumers and reiterate the importance of Karnataka and overall South India as a key market for the brand. The meet and greet was chaired by Ashwin Uppal, Category Head - Hair Color, Godrej Consumer Products Ltd (GCPL) along with Godrej Expert’s brand ambassador and renowned film actor, R.Madhavan.
The meet and greet activity was to celebrate Godrej Expert and the success it has received in Karnataka and rest of South market. This activity also gave chance to select users of Godrej Expert to meet and interact with actor R.Madhavan.
South India’s hair colour market is estimated to be worth Rs.730 crore, of which, Godrej Expert commands the highest market share. The region is a strong hair colour market for Godrej. The company’s own research shows that maximum number of hair colour entrants will be coming from the South region in near future.
Speaking on this occasion, Ashwin Uppal, Category Head - Hair Color, Godrej Consumer Products (GCPL) said, “South India is a very important market for Godrej Expert, and we hold a dominant position in the region. We are thankful to receive the support and immense trust from stakeholders. We are committed to further strengthen our presence across South India. Our endeavor will be to offer the most unique hair colour solutions at the best affordable price. We are confident of achieving greater penetration and growth in the region.”
In India, Godrej Expert have made hair colour accessible and aspirational for people across the country. The overall hair colour market in India is estimated at Rs.4040 Crore, with Godrej Expert, commanding a significant market share. It is the largest hair colour brand in India with a retail presence of 40 lac outlets, the highest in the category.
Godrej Expert offer a variety of products including Godrej Expert Rich Crème Hair Colour, a rich crème hair colour, Godrej Expert Original, a unique powder hair colour and Godrej Expert Advanced a gel that is extremely convenient to use.
Amid enthusiastic young entrepreneurs and global participants, the 5th India International MSME Start Up Expo was jointly inaugurated by Union Minister of Commerce and Industry and Civil Aviation Suresh Prabhu, Uttar Pradesh Industrial Development Minister Satish Mahan and Minister of State (IC) PMO Dr Jitendra Singh at Pragati Maidan, New Delhi
The occasion was also graced by Secretary General Uttar Pradesh MP Aggarwal, Additional Chief Executive Noida AK Srivastava, Ambassador of Thailand - Chutintorn Gongsakdi, Ambassador of Azerbiajan Dr. Ashraf Shilhalvyev Ambassador of Uzbekistan Farhood Arziev and Minister Counsellor Embassy of Japan Kenko SONE.
The three-day event starting June 22-24, 2018 was spearhead by the MSME Development Forum, a not for profit organisation, which has been at the forefront of growth and promotion of small businesses with a thrust on start-ups towards building entrepreneurs in India. The Forum works as a catalyst for interface between government and entrepreneurial activities and has been relentlessly working towards developing an entrepreneurial culture in the country.
Inaugurating the event, Shri Suresh Prabhu said, “Prime Minister made a profound statement that without participation, development and regeneration of small and medium startups, we cannot succeed ignition of new India. One of the fundamental and cardinal principles of SMEs is that they take wealth to different corners of the country. SMEs earn money and in process help wealth distribution of that unlike large industries.”
Addressing the event Minister of Industrial Development in the Uttar Pradesh Government Satish Mahana says, “Uttar Pradesh is now ready to welcome all as a new industrial hub. We are ready to address all sorts of issues and also ready to provide assistance. And we wish success of the investors.”
On the occasion, Minister of State (IC) PMO, DONER Dr. Jitendra Singh says, “The States which have not participated are not aware about the centre like MSME- DF. New media will be based on strong economy and livelihood. Promotion of MSMEs ventures is important for youth. Path breaking initiative have been taken by the government for MSME in development of economy.
When an event like this happens again we(Uttar Pradesh ) will put all our sources together.”
Rajnish Goenka, Chairman, MSME – DF says, “We are aiming to make India as World's manufacturer and sourcing hub alternative to China. Importantly, we have also tried to create a political will among political parties to acknowledge this movement. There are 12 crores MSMES and 6 crores MSME units that need administrative support to create better values in society. It directly and indirectly involves more than 60 crores people of the country. In fact, MSME start-up & youth could become the game changers.”
The agenda of the exposition is to promote entrepreneurship & self-employment to generate maximum job opportunities. The event will also provide one stop global platform to connect, network, partner and share information with Domestic & International SMEs to find new business opportunities in either country. The expo also aims to spread awareness about Government’s promotional schemes to make new Entrepreneur and transform job seekers to job creators. It accelerates growth of MSMES , Statups and Budding entrepreneur .In addition, it focuses to bring Small Entrepreneurs on a single platform and address their persistent issue and concerns. The agenda will also target to be the leading MSME Startup Advocacy Forum.
The event witnesses more than 20,000 visitors, 250 exhibitors, 100 B2G/B2B Meetings, 50 Embassies & Global Participants, 30 banks and investors, 15 PSUs-Government Departments and 10 concurrent summits.
These mega events will rediscover the Ease of doing business and Opportunities in different states of India. This triangular network will expand the spectrum of this Expo. Apart from this, Startup fest, Small industries trade fair, Funding & Finance fair, vendor development Fest and ease of doing business summit are also the main attractions of the event. Several Government department, boards and PSU are putting up there to booths educate and vendor development programmes and opportunities.
Atos, a global leader in digital transformation, today announces that its new Earth Observation (EO) Platform, officially named Mundi Web Services, is now live and being used by several clients. This platform is supported by a newly-created consortium, composed of DLR, e-Geos, EOX, GAF, Sinergise, Spacemetric, Thales Alenia Space and T-Systems, which is led by Atos, on behalf of the European Commission and ESA (European Space Agency).
Mundi gives users and companies unlimited, free and complete access to real-time geo Copernicus satellite data and enables them to combine it with their own data and tools, to build new innovative products and services that integrate accurate and real-time information from satellites. It can be used across a broad range of sectors and markets such as manufacturing, insurance, utilities, agriculture, forestry, urbanism and emergency services. The platform additionally provides access to sophisticated processing tools, resources and infrastructure, thus offering companies a single Cloud-based one-stop shop to bring added-value services to market quicker.
“The launch of the Mundi Web Services platform marks a significant milestone in Atos’ investment in Big Data, analytics and AI platforms for Space applications, through our Atos Codex offerings” says Stéphane Janichewski, Head of Defence & Aerospace Market at Atos. “These platforms will enable companies to deliver new services for the digital economy, which will provide value for society in order to address some of the greatest challenges we face today such as climate change and resource scarcity.”
Mundi is one of the five DIAS (Copernicus Data and Information Access Services) cloud-based platforms, which are officially launched today by the European Commission to EU institutions, ESA and representatives from the industry at the ‘Baveno+20 – From GMES to Copernicus and Beyond’ in Baveno, Italy today, on the 20th anniversary of the Copernicus Programme, the world’s largest single Earth Observation program.
Red Hat, Inc., the world's leading provider of open source solutions, today announced financial results for the first quarter of fiscal year 2019 ended May 31, 2018.
“The move to hybrid cloud architecture continues to be a strategic priority for our customers. We again delivered strong revenue growth in Q1 as customers continued to adopt our cloud enabling technologies for their applications,” stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. “For instance, we are driving strong growth in both subscription and services revenues for our OpenShift technologies as more customers modernize their applications in Linux containers for their hybrid cloud and digital transformation in transition, which requires that the standard be applied to all periods presented. The adoption of ASC 606 did not materially impact our total revenues as previously reported for fiscal years 2018 and 2017 and it had no impact on net cash provided by or used in operating, investing or financing activities. The primary impact of adopting ASC 606 relates to the deferral of incremental commission and other costs of obtaining contracts with customers. Previously, we deferred only direct and incremental commission costs to obtain a contract and amortized those costs over the contract term as the revenue was recognized and, under the new standard, we now also defer related fringe benefit costs. The results in this Press Release apply these changes to the current period and adjust prior periods, which are detailed in the Supplemental Information section of the Press Release.
Revenue: Total revenue for the quarter was $814 million, up 20% in USD year-over-year, or 17% measured in constant currency. Constant currency references in this release are detailed in the tables below. Subscription revenue for the quarter was $712 million, up 19% in USD year-over-year, or 16% measured in constant currency. Subscription revenue in the quarter was 87% of total revenue.
Subscription Revenue Breakout: Subscription revenue from Infrastructure-related offerings for the quarter was $522 million, an increase of 14% in USD year-over-year, or 11% measured in constant currency. Subscription revenue from Application Development-related and other emerging technology offerings for the quarter was $189 million, an increase of 37% in USD year-over-year, or 32% measured in constant currency.
Operating Income: GAAP operating income for the quarter was $112 million, up 25% year-over-year. After adjusting for non-cash share-based compensation expense, amortization of intangible assets, and transaction costs related to business combinations, non-GAAP operating income for the first quarter was $168 million, up 19% year-over-year. For the first quarter, GAAP operating margin was 13.8% and non GAAP operating margin was 20.7%. Non-GAAP references in this release are detailed in the tables below.
Net Income: GAAP net income for the quarter was $113 million, or $0.59 diluted earnings per share (“EPS”), compared with GAAP net income of $75 million, or $0.41 diluted EPS, in the year-ago quarter.
After adjusting for non-cash share-based compensation expense, amortization of intangible assets, transaction costs related to business combinations and non-cash interest expense related to the debt discount, non-GAAP net income for the quarter was $133 million, or $0.72 diluted EPS, as compared to $104 million, or $0.58 diluted EPS, in the year-ago quarter. Non-GAAP diluted weighted average shares outstanding excludes dilution that is expected to be offset by our convertible note hedge transactions.
Cash: Operating cash flow was $346 million for the first quarter, an increase of 34% on a year-over-year basis. Total cash, cash equivalents and investments as of May 31, 2018 was $2.5 billion after repurchasing approximately $150 million, or 949,000 shares, of common stock in the first quarter. The remaining balance in the current repurchase authorization as of May 31, 2018 was approximately $249 million.
Deferred revenue: At the end of the first quarter, the company’s total deferred revenue balance was $2.4 billion, an increase of 19% year-over-year. The positive impact to total deferred revenue from changes in foreign exchange rates was $16 million year-over-year. On a constant currency basis, total deferred revenue would have been up 18% year-over-year.
Outlook: Red Hat’s outlook assumes current business conditions and current foreign currency exchange rates.
For the full year:
• Revenue is expected to be approximately $3.375 billion to $3.410 billion in USD.
• GAAP operating margin is expected to be approximately 16.4% and non-GAAP operating margin
is expected to be approximately 23.9%.
• Diluted GAAP EPS is expected to be approximately $2.36 to $2.40, assuming 191 million diluted
shares outstanding. Diluted non-GAAP EPS is expected to be approximately $3.44 to $3.48,
assuming 185 million diluted shares outstanding. Both GAAP and non-GAAP EPS assume a $4
million per quarter forecast for other income and an estimated annual effective tax rate of
approximately 22.5% before discrete tax items.
• Operating cash flow is expected to be approximately $1.035 billion to $1.045 billion.
For the second quarter:
• Revenue is expected to be approximately $822 to $830 million in USD.
• GAAP operating margin is expected to be approximately 15.1% and non-GAAP operating margin
is expected to be approximately 23.0%.
• Diluted GAAP EPS is expected to be approximately $0.50, assuming 191 million diluted shares
outstanding. Diluted non-GAAP EPS is expected to be approximately $0.81, assuming 185 million
diluted shares outstanding. Both GAAP and non-GAAP EPS assume a $4 million forecast for other
income and an estimated annual effective tax rate of 22.5% before discrete tax items.
GAAP to non-GAAP reconciliation:
Full year non-GAAP operating margin guidance is derived by subtracting the estimated full year impact of non-cash share-based compensation expense of approximately $215 million and amortization of intangible assets of approximately $39 million. Full year diluted non-GAAP EPS guidance is derived by subtracting the expenses listed in the previous sentence and the full year impact of non-cash interest expense related to the debt discount of approximately $20 million and an estimated annual effective tax rate of approximately 22.5% before discrete tax items. Additionally, full year diluted non-GAAP EPS excludes approximately $46 million of discrete tax benefits related to share-based compensation that are included in full year diluted GAAP EPS. Full year diluted non-GAAP EPS excludes approximately 6 million diluted shares related to the convertible notes, which are expected to be offset by our convertible note hedge transactions.
Second quarter non-GAAP operating margin guidance is derived by subtracting the estimated impact of non-cash share-based compensation expense of approximately $55 million and amortization of intangible assets of approximately $10 million. Second quarter diluted non-GAAP EPS guidance is derived by subtracting the expenses listed in the previous sentence and non-cash interest expense related to the debt discount of approximately $5 million and an estimated annual effective tax rate of 22.5% before discrete tax items.
Additionally, second quarter diluted non-GAAP EPS excludes approximately $7 million of
discrete tax benefits related to share-based compensation that are included in second quarter diluted GAAP EPS. Second quarter diluted non-GAAP EPS excludes approximately 6 million diluted shares related to the convertible notes, which are expected to be offset by our convertible note hedge transactions.
Webcast and Website Information
A live webcast of Red Hat's results will begin at 5:00 pm ET today. The webcast, in addition to a copy of our prepared remarks and slides containing financial highlights and supplemental metrics, can be accessed by the general public at Red Hat's investor relations website at htt p:/ /i nvestors.redhat.com . A replay of the webcast will be available shortly after the live event has ended. Additional information on Red Hat's reported results, including a reconciliation of the non-GAAP adjusted results, are included in the financial tables below.
Bentley Systems, Incorporated, a leading provider of comprehensive software solutions for advancing infrastructure, recently held two of nine Going Digital events planned for 2018 in Mumbai & New Delhi. More than 700 infrastructure professionals attended to hear Kaushik Chakraborty, Vice President & Regional Executive SE Asia and India & Santanu Das, Senior Vice President, Design Engineering deliver the executive keynote in respective cities, focusing on how Bentley’s products and services help engineers, design institutes, contractors, and owner-operators advance their going digital strategies.
Phil Christensen, SVP, Reality Modeling and Cloud Services presented the technology keynote, which included updates on Bentley’s iModel platform, a new paradigm for managing change that Bentley announced at the Year in Infrastructure 2017 Conference in Singapore. iModelHub is a cloud service that provides project changes on a timeline and notifies project participants, based on their ProjectWise workflow configuration, about the availability of relevant changes. Participants can choose to synchronize to and from specific timeline milestones, and can visualize, summarize, analyze, and interpret the impact of ongoing changes. Without requiring changes to existing BIM applications of processes, the iModelHub cloud service:
• synchronizes and distributes changes made through discipline-specific BIM applications;
• aligns semantically and physically their consistent digital components; and
• maintains immersive visibility for comprehensive and continuous design reviews across all project disciplines and participants.
As the industry moves to deploying reality modeling on many of its projects, Rekha A., Sr. Application Engineer, Reality Modeling updated attendees on how ContextCapture accelerates the decision-making process by improving collaboration with outside agencies and services during the design, construction, operation, and inspection phases.
Alan Lamont, VP, Advancement Academies, stressed on how Bentley Institute partners with industry organizations, project delivery firms, and owner-operators to advance project delivery and asset performance best practices through the Bentley’s knowledge-sharing initiative Digital Advancement Academies. He, also explained how Digital Advancement Academies ensure that BIM knowledge is shared and exchanged with industry, creating a lasting legacy that benefits professionals.
The Going Digital event included informative industry tracks tailored to help users understand the opportunities for industry-focused infrastructure investment and learn how globally recognized professionals use Bentley software to meet the lifecycle demands of today’s infrastructure projects. Tracks included:
o Oil and Gas
o Road and Rail Transportation
o Water and Wastewater
The organizers of both the Going Digital events also invited users from the respective regions to recognize them for their outstanding projects nominated for last year’s Year in Infrastructure Awards program. More than 25 user organizations were felicitated at this ceremony.
By the end of this information-rich, one-day event, attendees could to return to their respective organizations with an in-depth understanding of how to apply going digital strategies in their day-to-day work and improve the performance of infrastructure projects and assets from design through construction and operations.
