Tonbow Imaging, a Bangalore-based startup has signed a $1million contract to manufacture and export ‘night-vision sights’ for guns which will then be sold by a U.S. company to the Peruvian army. The device will be fitted on rifles supplied to Peru by U.S. manufacturer Unified Weapon Systems Inc. (UWS).
The deal with Fábrica de Armas y Municiones del Ejército (FAME), Peru’s state-owned military industry, also includes transfer of technology of the assault rifles and weapon sights, reports the Economic Times.
Mike Bingham, CEO of UWS said, “While most night vision systems run proprietary operating systems, Tonbo’s systems are built on Android. This makes their systems very secure and scalable.”
Arvind Lakshmikumar, founder and CEO of Tonbow Imaging, completed his doctoral work in Robotics from Carnegie Mellon University.
October 14, 2016 No Comments
Startup Flutura, located in Bangalore, India, makes an IoT product that captures data streaming from various sensors on machines to analyze their health and predict problems. Derick Jose, co-founder of Flutura, describes its IoT product Cerebra as a “Fitbit for machines.”
The Cerebra platform connects assets used in industries to correlate, analyze, make intelligent predictions and provide actionable insights with the data it receives from the assets to help create smart factories, reports Forbes.
In the U.S., Cerebra IoT Signal Intelligence harvests asset signals for a leading airport reducing millions of dollars in delays; it effected revenue generation of $120 million across the first 3 years for a large Houston-based oil and gas OEM; it optimized vessel speed to minimize Total Fuel Consumption to improve the performance of vessels. This resulted in savings of up to $300,000 per year for large vessels for the largest North American Vessel Classification Society.
October 13, 2016 No Comments
Luxembourg headquartered and NYSE-listed Globant, a technology services company, is expanding its operations in India with the launch of its new development center in Pune, 90 miles to the east of Mumbai, reports Business Standard. The Pune center is equipped to house 1,200 employees.
Guibert Englebienne, Globant chief technical officer and co-founder said, “By being in India, we aim to increase our global footprint; building a global team with the best talent of the world.”
Global has growth plans in digitalization, and according to Gartner, IDC and Cantor Fitzgerald Research, the Digital Services market is a large opportunity, with an estimated size of $71 billion for Services and a compelling growth rate of 25% CAGR for the next 5 years.
Globant already has a facility in Bangalore which it acquired during the 2015 acquisition of Clarice Technologies.
October 7, 2016 No Comments
India’s e-tailer Flipkart crossed the 100-million registered users mark, becoming the first e-commerce company in the country to hit the milestone.
Its investors include Tiger Global, Naspers, Accel Partners, Morgan Stanley Investment Management, T Rowe, and GIC, Singapore’s sovereign wealth fund.
The Bangalore-based company doubled its user base over the last year and added 25 million users in the past six months. A recent Bank of America Merrill Lynch Report pegs Flipkart as the leader with over 43 percent market share, and predicts that by 2019, Flipkart will increase its share to 44 per cent.
The Hindu reports that e-commerce companies in India have witnessed tremendous growth on the back of strong demand for smartphones and increasing data usage. India, which is among the fastest growing e-commerce markets globally, is expected to continue on the growth momentum over the three to five years, it says.
October 3, 2016 No Comments
India’s Space Research Organization has successfully launched 8 satellites in two different orbits in a first ever payload launch of the kind.
Mashable reports that the entire mission took 25 days since the team experienced many unprecedented challenges. The Polar Satellite Launch Vehicle –C35 had to be re-ignited a second time after its first placement, since the satellites had to be injected into two different orbits.
The SCATSAT-1, weighing 818 pounds, was one of the eight satellites to be launched. It is designed to study weather and can last in space for as many as five years. The other seven include two developed by Indian universities —PES University in Bangalore, and the Indian Institute of Technology, Bombay — 3 from Algeria and one each from the U.S. and Canada.
September 28, 2016 No Comments