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Zomato raises $1 billion in its first major fundraising since listing in 2021

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Zomato raises $1 billion in first major fundraise since 2021 listing

Zomato has raised $1 billion in a so-called qualified institutional placement, completing its first major fundraising since its 2021 IPO.

Friday’s stock exchange filing showed the $30 billion food delivery and fast-trading giant, which leads in each categories, issued about 336.5 million shares at 252.62 kilos ($3) each.

The placement, which began on November 25 and ended on November 28, enjoyed large participation from leading domestic investment funds. The largest investor turned out to be Motilal Oswal, whose family of funds covered 20.81% of the difficulty. ICICI Prudential Funds secured 12.78%, while HDFC and Kotak Funds secured 8.68% and 5.95% respectively.

The timing of the capital raise can be strategic, coming just weeks after rival Swiggy’s $1.35 billion initial public offering earlier this month. Zepto, one other leading fast trading startup, earlier this month secured $350 million in a deal brokered by Motilal Oswal.

Swiggy shares fell 4.1% on Friday, limiting the general gain this week to 12.8%. Zomato shares, offered to investors participating in the QIP at a 5% discount, fell about 1% on Friday but are up 127.7% since the start of the 12 months.

Zomato co-founder and CEO Deepinder Goyal said last month that the corporate, which already has money reserves of $1.3 billion, was searching for additional funds to take care of competitive parity.

The company, which recently reported its second straight quarterly profit, is a frontrunner in India’s fast trading market via Blinkit, competing with well-funded rivals corresponding to Swiggy, Zepto and BigBasket in a sector expected to generate greater than $6.5 billion in annual revenue .

“We see that the fast trading industry will go through a phase of increased competition over the next 6-12 months. Companies operating on the fast trading market are looking for capital or have already obtained it. Four new names including Flipkart, Reliance, BigBasket and Amazon are looking to enter the fast trading space,” Bank of America analysts said in a note.

“The first mover advantage is what matters in this space, and given that the TAM is around 30 million households (330 million households in India), we believe it is logical that market leader Zomato would want to maintain its leading position c. 40% share.”

This article was originally published on : techcrunch.com
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US medical device giant Artivion says hackers stole files during a cybersecurity incident

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Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.

In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.

Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”

Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.

This article was originally published on : techcrunch.com
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It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500

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Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.

The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.

The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.

More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)

Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.

The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.

Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.

In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.

Image credits:Raspberry Pi

This article was originally published on : techcrunch.com
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Apple Vision Pro may add support for PlayStation VR controllers

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Vision Pro headset

According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.

The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.

However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.

Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.

This article was originally published on : techcrunch.com
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