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Month: January 2025

Education

Edtech Firm Leap Secures $65 Million in Series E Funding

Observenow Desk January 30, 2025

Edtech platform Leap Finance has successfully raised $65 million (approximately INR 540-545 crore) in a Series E funding round led by London-based private equity firm Apis Partners. This round included both primary and secondary transactions and saw participation from existing investors Owl Ventures, Jungle Ventures, and Peak XV Partners.

Founded in 2019, Leap operates a comprehensive suite of services through LeapScholar, LeapFinance, GeeBee, and Yocket, catering to Indian students aspiring to study abroad. The platform offers test preparation for exams such as IELTS, TOEFL, and SAT, along with admissions and visa counseling. Additionally, it provides financial services, including international student loans. Headquartered in Bengaluru and San Francisco, the company last raised $75 million in its Series D round, which valued the firm between $850-900 million. With this latest funding, Leap has now secured over $200 million in equity financing since its inception.

Co-Founder Vaibhav Singh underscored the company’s rapid growth, stating, “We have witnessed 5x growth since our Series D two years ago. Today, Leap is not only the study-abroad platform of choice in India but is also rapidly establishing itself as a global leader, scaling operations in 10+ countries.” Arnav Kumar, Leap’s co-founder, reiterated the company’s commitment to innovation, adding, “Ensuring student success is why we exist, and the AI revolution we are seeing today will allow us to deepen our offerings at a faster pace.”

Leap claims to have supported over one million students and established partnerships with more than 1,000 educational institutions worldwide. The company primarily serves students aiming for higher education in the US, Canada, the UK, and Australia.

Matteo Stefanel, Co-Founder and Managing Partner at Apis Partners, expressed confidence in Leap’s mission, stating, “Leap is using technology to not only help students find and access the right educational opportunities but also equip them with the tools to succeed. We believe Leap’s mission aligns closely with Apis’ commitment to driving financial inclusion.”

Tags: EdtechFUNDINGLeap

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Exclusive

DeepSeek AI Shakes Global Markets, Triggers Record $593 Billion Loss for Nvidia

Observenow Desk

The emergence of Chinese start-up DeepSeek AI has sent shockwaves through global stock markets, leading to an unprecedented $593 billion loss in Nvidia’s market capitalization—the largest single-day decline in Wall Street history. The Silicon Valley chip giant’s shares plummeted 17% on January 27, following the launch of DeepSeek’s low-cost, open-source AI models, which have sparked fears of a shift in the AI industry’s competitive landscape.

The market disruption extended beyond Nvidia, with the S&P 500 slipping and the Nasdaq plunging over 3%. Investors reacted to DeepSeek AI’s competitive edge—its models, DeepSeek-V3 and DeepSeek-R1, are developed at a fraction of the cost of US alternatives. Analysts believe the company’s free AI assistant, reportedly on par with OpenAI’s ChatGPT and Google’s Gemini, is reshaping the industry’s dynamics.

DeepSeek AI has experienced a meteoric rise, surpassing ChatGPT in US iOS App Store downloads and gaining traction in key markets, including the UK, Australia, Canada, China, and Singapore. According to a research paper, its DeepSeek-V3 model was trained using Nvidia’s H800 chips—a lower-tier option—at a cost of under $6 million. The latest DeepSeek-R1 model is claimed to be 20 to 50 times cheaper than OpenAI’s equivalent, raising concerns over cost efficiency advantages.

Global Market Fallout

DeepSeek’s disruption has rattled other tech giants and semiconductor firms:

  • Broadcom Inc. tumbled 17.4%,
  • Microsoft, a major investor in ChatGPT, slipped 2.1%,
  • Alphabet (Google’s parent company) dropped 4.2%,
  • The Philadelphia Semiconductor Index recorded a 9.2% decline, its worst since March 2020,
  • Marvell Technology suffered Nasdaq’s biggest loss, plunging 19.1%.

The ripple effect spread to global markets, with Japan’s SoftBank Group sliding 8.3%, while Europe’s ASML fell 7%. US-based Vertiv Holdings, a key data center infrastructure provider, saw a staggering 29.9% decline. Power companies like Vistra (-28.3%), Constellation Energy (-20.8%), and NRG Energy (-13.2%) also faced heavy losses as expectations of an AI-driven energy demand surge weakened.

A Challenge to Silicon Valley’s AI Dominance

Despite its market-shaking debut, little is publicly known about DeepSeek AI. The start-up is primarily owned by Liang Wenfeng, co-founder of hedge fund High-Flyer. Analysts credit its disruptive pricing strategy for its rapid success, positioning it as a major threat to US tech giants like OpenAI, Nvidia, and Google.

As AI competition intensifies, DeepSeek’s rise signals a new era of cost-efficient AI innovation, forcing established players to adapt—or risk falling behind.

Tags: DeepSeek AINVIDIAOpenAI

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B2B Marketeer

AI Trends and the Skills Marketers Need to Thrive

Vindhya CS January 29, 2025

It’s clear that AI is shaking up various industries, and it will continue to disrupt our lives in significant ways. While there are many futuristic predictions about AI agents taking over the world, here are three realistic trends that are already making waves:

  1. Synthetically Generated Marketing Messages: By 2025, Gartner predicts that 30% of outbound marketing messages from large organizations will be synthetically generated using AI. This shift marks a significant move towards automated content creation.
  2. Use of Synthetic Customer Data: By 2026, 75% of businesses are expected to use Generative AI to create synthetic Customer Data—an increase from less than 5% in 2023. [Synthetic data is artificially generated data that mimics real-world data, often used to enhance privacy, improve algorithms, or simulate scenarios.]
  3. Integration of Multimodal AI Solutions: Gartner forecasts that by 2027, 40% of generative AI solutions will be multimodal, meaning they will incorporate text, images, audio, and video capabilities.

While automation will surely take over several operational tasks with agents that can work 24/7 without debating how many hours a week they need work, what will keep marketers relevant are the following skills:

  1. Advanced Data Literacy:
    A).  The ability to derive actionable insights from complex datasets.
    B).  The ability to synthesize information from various sources and draw meaningful conclusions.
  2. Ability to Integrate AI into the Entire Business Framework
  3. Enhanced Creativity, Foresight, and Intuition

Think of marketing in the age of AI like driving a high-tech car. The AI is the engine—powerful, efficient, and capable of incredible speed—but it still needs a skilled driver to steer it in the right direction!

Disclaimer: The views expressed in this article are solely those of the author and do not necessarily reflect the opinions or policies of ObserveNow Media. The author is solely responsible for ensuring the accuracy, completeness, and validity of the information presented, encouraging readers to independently verify and seek professional advice if needed.

 

Tags: AIB2B marketingmarketingTechnologyVindhya CS

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Exclusive

Suranjan Choudhury Appointed as Head of Customer Engineering for Telecom, ITeS and GCC at Google

Observenow Desk January 28, 2025

Google has announced the appointment of Suranjan Choudhury as the Head of Customer Engineering for Telecom, ITeS (IT-enabled Services), and GCC (Global Capability Centers) in India. With a career spanning the telecom, media, and IT sectors, Suranjan brings a wealth of experience in cloud computing and technology strategy to his new role.

In his position, Suranjan will be responsible for leading transformative initiatives aimed at enabling Google’s telecom and ITeS clients to maximize the potential of the company’s cloud solutions. His focus will be on enhancing customer experiences, optimizing operational efficiency, and implementing scalable, innovative solutions tailored to industry needs.

Suranjan joins Google after an impactful tenure of nearly four years at Amazon Web Services (AWS), where he led the Solution Architecture team for Telecom, Media, and Entertainment. At AWS, he spearheaded critical initiatives to drive client adoption of cloud technologies, delivering improved business outcomes and fostering technological innovation.

His professional journey also includes significant leadership roles at Microsoft, where he worked on advancing technology strategy and innovation. These experiences have further solidified his expertise in cloud architecture and customer engineering, making him a valuable addition to Google’s leadership team.

With his vast expertise and strategic vision, Suranjan is expected to play a pivotal role in driving innovation and supporting clients in the telecom, ITeS, and GCC sectors as they navigate evolving industry challenges. His appointment reflects Google’s dedication to providing advanced cloud solutions and reinforcing its competitive edge in the cloud technology landscape.

Tags: GoogleSuranjan Choudhury

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Education

IIT Kanpur Professor Ashutosh Sharma Honoured with Padma Shri for Contributions to Science and Public Service

Observenow Desk

Professor Ashutosh Sharma, a stalwart in the field of chemical engineering and a chair professor at IIT Kanpur, has been named among the Padma Shri awardees. This prestigious honor recognizes his significant contributions to science, technology, and society, and adds to his illustrious legacy.

Hailing from Jaipur, Prof. Sharma began his academic journey with a BTech degree at IIT Kanpur (1977–1982) and returned to the institution in 1990 as an assistant professor. Over the years, he has been instrumental in establishing pioneering research centers, including the Nano Technology Centre and the Imaging Centre, which have positioned IIT Kanpur at the forefront of advanced scientific innovation.

Prof. Sharma expressed his gratitude for the award, stating, “I was spending the evening with my family when I received the news of being awarded the Padma Shri. The Director of IIT Kanpur, Professor Manindra Agarwal, congratulated Prof. Sharma on behalf of the institution, praising his remarkable contributions to science and his commitment to societal progress.

Prof. Sharma’s illustrious career is marked by research in thin films and nanoscale systems, earning him accolades such as the Shanti Swarup Bhatnagar Award and the Infosys Prize. Since 2006, he has also served as the Founding Coordinator of the DST Thematic Unit of Excellence on Soft Nanofabrication at IIT Kanpur.

Beyond academics, Prof. Sharma made a significant impact during his tenure in Delhi with the Ministry of Science and Technology, where he spearheaded innovative projects and supported startups. During the COVID-19 pandemic, his efforts led to the development of critical products that aided patients and healthcare providers, reinforcing his dedication to applying science for societal benefit.

Looking ahead, Prof. Sharma remains steadfast in his vision. “Now, my goal is to work for the welfare of society,” he said, highlighting his commitment to leveraging science and technology to address pressing challenges.

Tags: Ashutosh SharmaIIT KANPURPadma Shri Award

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BFSI

Rakesh Sharma’s Re-appointment as MD & CEO of IDBI Bank

Observenow Desk

IDBI Bank has reappointed Rakesh Sharma as its Managing Director (MD) and Chief Executive Officer (CEO) for another three-year term. The decision, sanctioned by the Board of Directors on January 23, 2025, and effective from March 19, 2025, underscores the Reserve Bank of India’s (RBI) approval of Sharma’s stewardship.

Rakesh Sharma’s illustrious career spans over four decades in the banking industry, marked by a profound expertise across diverse domains. Beginning his journey with the State Bank of India (SBI), he demonstrated an exceptional aptitude in handling credit assignments at specialized branches, managing international banking operations at the Tokyo Branch, and overseeing HR and retail functions across multiple regions. Notably, his tenure as Head of the Mid Corporate Group in undivided Andhra Pradesh and as Chief General Manager of the Patna Circle provided him with a comprehensive understanding of India’s banking landscape.

Sharma’s leadership trajectory saw him transition from SBI to Lakshmi Vilas Bank Ltd., where he served as MD & CEO from March 2014 to September 2015. This role was followed by an impactful three-year tenure as MD & CEO of Canara Bank, concluding with his retirement in July 2018. During his time at Canara Bank, Sharma’s influence extended beyond the organization as he chaired its group companies, steering them toward enhanced operational efficiency.

Taking the reins at IDBI Bank in October 2018, Sharma has been instrumental in transforming the institution’s operational and financial metrics. His tenure has been marked by a steadfast commitment to sustainable growth and stability. The decision to extend his leadership reflects the Board’s confidence in his ability to continue navigating the challenges and opportunities of the banking sector with aplomb.

Sharma’s influence extends beyond IDBI Bank. As the President of the Governing Body of the Entrepreneurship Development Institute of India (EDII) and a member of the Managing Committee of the Indian Banks’ Association (IBA), he brings a wealth of experience and foresight to the broader financial ecosystem. Additionally, his roles as Non-Executive Director and Chairman of IDBI Capital Markets & Securities Ltd. and IDBI Intech Limited further attest to his multifaceted expertise.

The reappointment of Rakesh Sharma is not merely a nod to his past achievements but a forward-looking decision aimed at fostering innovation, resilience, and progress within IDBI Bank. As the institution prepares for its next chapter, it does so with the assurance of a seasoned leader at its helm, ready to navigate the complexities of a dynamic financial landscape.

Tags: IDBI BankRakesh Sharma

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Digital Native

Juspay Set to Become the First Unicorn of 2025 with $150 Million Funding Round

Observenow Desk

Fintech infrastructure firm Juspay is on the cusp of a milestone, poised to become the first unicorn of 2025. The company is in advanced stages of raising $150 million in its latest funding round, led by Kedaara Capital, with participation from WestBridge and SoftBank. The funding round values Juspay at approximately $1 billion, cementing its position as a unicorn—a term reserved for startups with valuations exceeding $1 billion.

Founded in 2012 by Vimal Kumar and Sheetal Lalwani, Juspay has established itself as a leader in payment orchestration software. The company’s innovative solutions have set benchmarks in the fintech sector. For instance, when the National Payments Corporation of India (NPCI) needed a unified payments interface (UPI) app, it turned to Juspay to develop BHIM. The firm’s OTP-read software revolutionized the checkout experience for mobile apps on e-commerce platforms, and Juspay continues to manage critical payment orchestration for multiple UPI apps.

Despite intensifying competition in the payments space—where major players like Razorpay, PhonePe, and Cashfree have moved away from payment orchestration platforms—Juspay remains a preferred partner for many.

Juspay’s financial performance has been robust, with operating revenue growing nearly 50% in the fiscal year ended March 2024. The company reported revenues of ₹319.32 crore for FY24, up from ₹213.39 crore in FY23, marking an impressive 49.6% growth. Additionally, it managed to reduce losses by 10% during the same period.

A significant milestone for the company came in February 2024, when Juspay received authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA). This move not only enhanced its service portfolio but also strengthened its position in the fintech ecosystem.

Juspay’s latest funding round brings its total capital raised to over $237 million. The company previously secured $60 million in a Series C round in 2021, led by SoftBank Vision Fund 2, with participation from VEF and Wellington Management. The new investment underscores investor confidence in Juspay’s business model and growth trajectory.

Tags: FUNDINGJuspay

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Technology

Zoho CEO Sridhar Vembu Steps Down to Focus on R&D, Shailesh Kumar Davey Named New CEO

ObserveNow Media January 27, 2025

Zoho Corporation announced a major leadership transition as CEO Sridhar Vembu steps down to concentrate on research and development initiatives as the company’s Chief Scientist. Co-founder Shailesh Kumar Davey will assume the role of group CEO.

In a statement on micro-blogging platform X (formerly Twitter), Vembu explained his decision, citing the need to address the challenges and opportunities posed by advancements in artificial intelligence and other factors. “It has been decided that I should focus full-time on R&D initiatives, along with pursuing my personal rural development mission,” he wrote, adding that the future of Zoho depends heavily on navigating R&D challenges.

While Vembu began his note with, “A new chapter begins today,” he did not specify the exact timeline for the transition. He expressed enthusiasm for returning to hands-on technical work in his new role.

Zoho also revealed updates to its leadership structure. Co-founder Tony Thomas will head Zoho US, Rajesh Ganesan will lead the ManageEngine division, and Mani Vembu will oversee the Zoho.com division.

Founded in 1996 as AdventNet, Inc., Zoho Corporation is headquartered in Chennai and is renowned for its innovative software solutions.

Tags: B2BShailesh Kumar DaveySridhar VembuZoho

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BFSI

Reliance Jio Introduces JioSoundPay: A Game-Changer for Small-Scale Merchants with Free UPI Audio Confirmations

Observenow Desk

Reliance Jio has unveiled an innovative feature, JioSoundPay, tailored for its JioBharat device. This industry-first offering is set to transform the way small-scale merchants in India handle payment operations by providing instant, multilingual audio confirmations for UPI payments—a significant enhancement that eliminates the need for a separate sound box.

According to Reliance Jio, JioSoundPay is designed to address the needs of small businesses, including Kirana stores, vegetable vendors, and roadside eateries. An official statement from the company emphasized the cost-saving potential of this feature: “Currently, small and micro merchants spend approximately Rs. 125 per month for a sound box. With JioSoundPay being offered free for life, JioBharat users can save Rs. 1,500 annually.” By integrating audio payment confirmations directly into the JioBharat device, the feature not only streamlines business operations but also significantly reduces costs, providing a lifeline to nearly five crore merchants across the nation.

The feature’s introduction aligns with Reliance Jio’s broader strategy to bolster its market presence following a challenging phase of subscriber attrition. By offering JioSoundPay as a free, integrated solution, the telecom giant aims to disrupt the payment ecosystem—an area where competitors like Paytm currently dominate through standalone sound box solutions.

This strategic move reflects Reliance Jio’s commitment to empowering micro and small enterprises. With JioSoundPay, the company not only addresses a critical pain point for merchants but also enhances its value proposition, solidifying its role as a market leader in the telecom and digital payment sectors. As the feature rolls out, it is poised to bring tangible benefits to businesses across India, fostering a seamless and cost-effective payment experience.

Tags: JioSoundPayReliance Jio

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Digital Native

Nykaa Establishes Subsidiary in Oman to Strengthen GCC Presence

Observenow Desk

Indian beauty and personal care brand Nykaa has launched a new subsidiary, Nysaa Cosmetics SPC, in Oman as part of its strategy to expand in the Gulf Cooperation Council (GCC) region.

Nysaa Cosmetics SPC, a fully owned sole proprietorship of Nessa International Holdings Limited, gives Nykaa a 55% indirect stake in the newly formed entity. Nessa International is a subsidiary of FSN International Limited, which is entirely owned by Nykaa.

Read more: NIKE Announces Treasure Heinle as New CHRO, Effective January 2025

With an initial share capital of 30,000 Omani rials (approximately ₹6 lakh), Nysaa Cosmetics SPC will focus on the international and domestic sales, trade, and retail of beauty and personal care products, including cosmetics, perfumes, and hair care items. The company, although incorporated, has not yet begun its operations.

The move follows Nykaa’s earlier foray into the GCC market with Nysaa Distribution FZE in Dubai in November 2024 and Nysaa Cosmetics Trading in Qatar in July 2024. According to Nykaa, its international business has witnessed significant growth in recent quarters, albeit from a smaller base.

Nykaa’s expansion into the GCC reflects its ambition to meet the region’s growing demand for beauty and personal care products. By establishing localized operations in multiple Gulf countries, the company aims to increase revenue and strengthen its global presence.

Nykaa, which debuted on the Indian stock market in 2021, continues to grow both online and offline, solidifying its position as a leading retailer in the beauty and personal care space. The financial performance of Nysaa Cosmetics SPC is yet to be disclosed, but Nykaa is optimistic about the future contributions of its international ventures.

Tags: NykaaOman

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