Early stage capital for global innovation
Focused on tech startups in the US and in India
NEWSLETTER - December, 2019
PORTFOLIO UPDATES

Blaize expands Hyderabad unit, to double headcount in 12 months

US-based AI chip company Blaize Inc, formerly known as Thinci, has expanded its Hyderabad facility and is looking at doubling headcount to 450 over the next 12 to 18 months. This gives the company more scope for hiring skilled engineers from India. The company currently has 325 employees globally, of which around 250 are located in the Hyderabad office that was set up in 2013.

Financial education website IndianMoney appoints Siddharth Mehra as CFO

Before being selected as CFO at IndianMoney.com, Siddharth Mehra was working on behalf of Coverfox and Marsh India Insurance Brokers. He has a portfolio of working in different segments including finance, accounts, compliance, statutory reporting and investor relations. C S Sudheer, founder and CEO of IndianMoney.com, said, “We are excited to welcome Siddharth, whose vast experience will help us hit our IPO by 2023. His strategic exposure across industries would not only leverage in scaling up operations, but also align goals, charting the way forward.”

Glassbeam launches ground-breaking functionalities in Clinsights service analytics for the healthcare provider market

Glassbeam announced new functionalities in its AI-powered Clinsights™ Service Analytics offerings that are targeted at healthcare providers to help improve patient care by minimizing machine downtime and operational costs. In production sites across 100+ facilities across the United States, Clinsights Service Analytics now allows clinical engineering staff to remotely access and diagnose machine health issues instead of spending precious hours going to the hospital sites and performing reactive maintenance. In addition, coverage of modality expands to provide proactive and predictive alerts for Cath Lab equipment.

Fakespot gets featured on the front page of Wall Street Journal and New York Times

WSJ and NYT published articles on the importance of customer-reviews ahead of the Black Friday Sale. These articles highlight how Fakespot uses algorithms and artificial intelligence to filter reviews and flag the problematic ones which can be helpful for the shoppers. The piece also covers opinions of the founder Saoud Khalifah and COO Rob Gross. Such exposure is expected to help the company in strengthening their brand. The articles can be found at: WSJ NYT

   
 
INDUSTRY UPDATE

Dawn of the Neobank: The Fintechs trying to kill the corner bank

Globally, a vast army of Neobanks are targeting all sorts of consumer and small-business niches—from Millennial investors to dentists and franchise owners. McKinsey estimates there are 5,000 startups worldwide offering new and traditional financial services, up from 2,000 just three years ago. Neobanks are swiftly emerging as a huge threat to traditional banks. McKinsey estimates that by 2025 up to 40% of banks’ collective revenue could be at risk from new digital competition.

Spotify, Apple Music may face music-streaming challenge from Bytedance soon

Chinese internet company Bytedance, owner of popular short-video platform TikTok, is set to take on the likes of Spotify and Apple Music with a new music-streaming service as soon as next month, according to a report by the Financial Times.

 

The Beijing-based startup is looking to launch the yet unnamed music app initially in emerging markets, including India, Indonesia, and Brazil, the Financial Times reported, adding that the company is expected to price the subscription service lower than the US$10 a month its rivals in the US are charging.

The sharing and renting economy sees a bloom amidst the slowdown

In uncertain times, sharing rather than owning makes for a compelling proposition. Why buy a house or a car, or furniture or home appliances, or even classy clothes when you can rent them? The idea also fits into a millennial’s way of life — spend more on experiences, like travel, rather than be tied down with mounting debt one has to repay. This win-win situation, where there is ready and growing demand, has attracted a host of companies whose business model is to rent rather than sell. And this business is exploding amid an economic gloom. Consultancy EY sees the size of the Indian sharing economy to becoming nearly $20 billion in five years.

Boston Dynamics ‘terrifying’ robotic dogs have been put to work by at least one police agency

Massachusetts State Police has become the first law enforcement agency to deploy robotic dogs. Agency’s bomb squad leased the robot dog to evaluate the robot’s capabilities in law enforcement applications, particularly remote inspection of potentially dangerous environments which may contain suspects. The machine can be directed by a person using a remote control, but much of the machine’s movements — such as how the robot walks and balances itself — occur reflexively, without human intervention.

Y Combinator abruptly shutters YC China

Prolific startup accelerator Y Combinator has abandoned plans to establish a branch of the program in China. The company cites a general change in strategy, but a deafening silence on the complexity and controversy of working with China right now suggests there’s more at play. That there is no mention of the uncertain international politics and U.S.-China relations right now, nor the explosive situation in Hong Kong, or ongoing human rights issues elsewhere in the country, seems a deliberate choice to make this move seem as ordinary as possible. But those things are major questions for anyone looking to do business in China, and it’s hard to believe none had any bearing on the decision to abruptly pack up and leave a major enterprise behind.

 
Email us:
contact@sricapital.com