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Planiware Makes Paris Debut After Raising $297 Million

Leave a Comment / News, Tech News, Tech Story / By Suhani Jain

After generating €278 million ($297 million) in its initial public offering (IPO), Planisware, a software firm specialising in business project management solutions, had a spectacular debut on the Paris stock exchange. The listing is a major achievement for the French stock market and shows that investors are once again interested in Europe’s innovation industry.

Performance of the Market and Valuation

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Planisware’s shares had a rise of 33 percent on their trading debut after their initial public offering (IPO), starting at €21.01, far higher than the €16 per share selling price. Planisware’s impressive start brought its valuation to €1.1 billion ($1.2 billion), suggesting that investors are willing to pay a premium for the company’s shares.

IPO Resurrection in Europe

The listing of Planisware is indicative of a larger upsurge in initial public offerings (IPOs) in Europe, especially in the software and technology sector. Since media and technology firms have had difficulty joining the largest stock exchange in Europe, Paris, Planisware’s successful initial public offering (IPO) is noteworthy. One of the major tech offerings in the area prior to Planisware was Technoprobe S.p.A.’s IPO in early 2022, which garnered over $800 million.

Success Particular to the Company

Planisware’s successful launch, in the opinion of Edmund Shing, global chief investment officer at BNP Paribas Wealth Management, is more a result of the company’s distinct advantages than of a general industry trend. Shing pointed out that the rarity of software businesses in Europe makes them highly sought after, which drives up consumer interest in Planisware’s shares.

Interest from Investors and Stakeholder Participation

Even while larger IT businesses are preferred by individual investors, smaller European tech startups such as Planisware have been able to draw attention from investors. Following the IPO, the company’s founders will own a majority interest, demonstrating their dedication to and faith in Planisware’s potential for future growth. The €100 million invested in the IPO by cornerstone investors, such as CDC Tech Premium, a Caisse des Dépôts fund that specialises in European tech IPOs, showed Planisware even more institutional backing.

Also Read: Tim Cook Visits Singapore to Bolster Apple’s Expansion in Southeast Asia

Sustained Market Outperformance

Planisware’s stock was up 28 percent at €20.53 as of the most recent trading report, indicating that the market is still enthusiastic and that the company is receiving favourable feedback. Investor trust in Planisware’s business strategy, technological offerings, and potential for expansion in the enterprise software industry is bolstered by this outstanding market performance.

The triumphant launch of Planisware on the Paris stock market signifies the increasing positivity and curiosity towards Europe’s technology industry, implying possible prospects for subsequent tech initial public offerings in the area.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

Tim Cook Visits Singapore to Bolster Apple’s Expansion in Southeast Asia

Leave a Comment / apple, News, Tech News / By Sandhya Gupta

Apple CEO Tim Cook’s presence in Singapore marks a pivotal moment in the tech giant’s expansion strategy, particularly in Southeast Asia. Amid challenges in China, Cook is focusing on bolstering Apple’s presence and sales growth in the dynamic Southeast Asian market.

Strategic Investments and High-Level Meetings

Image Source: cnbc.com

Cook’s visit to Singapore coincides with Apple’s announcement of a significant investment exceeding $250 million into its Singapore operations. This investment is not only a testament to Singapore’s strategic importance as a regional hub but also reflects Apple’s commitment to furthering its footprint in Southeast Asia. During his stay, Cook is scheduled to meet with Singapore’s upcoming Prime Minister Lawrence Wong and outgoing Prime Minister Lee Hsien Loong. This high-level engagement underscores Apple’s intention to deepen its ties with Singapore’s leadership and business ecosystem.

Seizing Opportunities in Southeast Asia

Apple’s expansion plans in Southeast Asia align with the region’s burgeoning tech landscape. Cook’s recent stops in Vietnam and Indonesia highlight Apple’s efforts to tap into the region’s vibrant market. With the launch of an online Apple Store in Vietnam and ongoing recruitment for its first retail center in Malaysia, Apple is strategically positioning itself to capitalize on Southeast Asia’s growth potential. The region’s smartphone market, projected to grow significantly in 2024, presents a lucrative opportunity for Apple amidst global challenges.

Cook’s emphasis on Southeast Asia as a crucial manufacturing hub further underscores Apple’s long-term strategy. Diversifying its supply chain beyond China has been a strategic imperative for Apple since 2022, driven by supply disruptions during the pandemic. Vietnam has emerged as a key manufacturing location for Apple, while Indonesia remains under consideration for future manufacturing endeavors, as indicated by Cook’s recent statements.

Navigating Global Challenges

Apple’s focus on Southeast Asia comes at a time when global smartphone shipments, particularly in China, have faced headwinds. With increased competition and shifting consumer preferences, Cook’s strategic engagements and investments in Southeast Asia signal Apple’s resilience and adaptability in navigating complex market dynamics.

Also Read: Rippling in Advanced Talks for Funding at Over $13 Billion Valuation

As Cook concludes his whirlwind tour across Southeast Asia, the outcomes of his high-level meetings and strategic investments in Singapore will likely shape Apple’s trajectory in the region. With a keen eye on expansion, innovation, and market diversification, Apple remains poised to capitalize on the vast opportunities presented by Southeast Asia’s dynamic tech landscape.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Google Maps Will Use AI to Help EV Car Owners With Charging

Leave a Comment / News, Tech News / By Sahil

Google Maps is introducing an artificial intelligence (AI) upgrade that could significantly improve the experience for electric vehicle (EV) owners by optimizing search and navigation at EV charging stations. This new feature, announced yesterday by Google, aims to address one of the most important concerns among EV drivers: the availability and accessibility of charging stations.

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The innovative upgrade uses AI to analyze multiple factors that influence charging station availability, including current usage, queue times, and specific station occupancy trends. It then integrates this data with real-time traffic information to recommend the best routes and charging stops. This AI-powered approach is designed to reduce the uncertainty and wait times that many EV drivers are currently facing.

This update is part of Google’s broader initiative to support sustainable transportation options and reduce environmental impact. It includes advanced features that not only guide users to the nearest available charging station, but also suggest the optimal time to charge, taking into account the expected length of the charging session and the potential demand at each station.

In addition to routing optimization, the AI upgrade provides personalized recommendations based on the user’s previous behavior and preferences. For instance, if a driver frequently visits fast-charging stations, Google Maps will prioritize similar stations in its suggestions.

Initial feedback from users who have tested the new feature has been overwhelmingly positive. “It’s a game changer,” says Eric Johnson, owner of EV in San Jose. “The app now directs me to the nearest charger and tells me if I need to wait to charge. Driving an EV takes away a lot of stress.”

The rollout of this AI-enhanced feature begins in major US cities where EV usage is highest, such as San Francisco, Los Angeles, and New York, with plans to expand to Europe and Asia by the end of the year.

Also Read: Rippling in Advanced Talks for Funding at Over $13 Billion Valuation

This upgrade underlines Google’s commitment to enhancing the user experience through technology, especially at a time when the adoption of electric vehicles is accelerating globally. By addressing some of the practical challenges associated with EVs, Google Maps is helping pave the way for a more sustainable future in transportation.

Sahil

WhatsApp Rolls Out Testing for New ‘Recently Active’ Contacts Feature

Leave a Comment / News, Tech News / By Suhani Jain

The well-known instant messaging service WhatsApp is allegedly developing a new function to improve user communication. Users will be able to see which contacts have recently been active on the platform thanks to this future feature, which will streamline interactions and make timely communication easier.

Crucial Specifics of the New Functionality

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WhatsApp is currently testing a new function that will provide a list of contacts who have recently been active on the network, according to a report from WABeta Info. Users will find this list to be a useful tool as it will remove the need to manually verify the status of each individual contact.

Privacy-Related Issues

The new functionality will not display particular information such as last seen or online statuses in the contact list in order to protect user privacy. Rather, it will put more of an emphasis on providing insights into recent activities while protecting user privacy and data.

The phase of Beta Testing

A limited number of beta testers who have updated to the most recent version of WhatsApp beta for Android via the Google Play Store are allowed to use the new functionality, which is now in the beta testing phase. In the upcoming weeks, a wider user base is anticipated to have access to the functionality as testing continues.

Improved Communication

With this functionality and other developments that are presently undergoing testing, WhatsApp’s commitment to improving communication is obvious. Reconnecting with connections who haven’t spoken in a while is another important development feature that strives to promote meaningful discussions and new relationships.

User Control and Withdrawal Choice

There will be an opt-out option for users who would rather not be suggested to start new chats based on current behaviour. By having this option, users may customise their messaging experience to suit their tastes and maintain control over it.

Upcoming Improvements

These new additions and improvements to WhatsApp should improve users’ chatting experiences overall as it develops. The platform is still dedicated to innovation and user-focused improvements that raise the bar on functionality and usability.

How to Get to the Feature

This forthcoming functionality is currently exclusive to WhatsApp for Android beta users. Although a precise deployment timetable is yet unknown, WhatsApp is anticipated to add the functionality to the stable version of the app soon.

Also Read: Chip Startup Rivos Secures Over $250 Million in Funding Amidst AI Industry Boom

Recent Changes to the Design

WhatsApp has updated the Android app’s look for all users in addition to the new functionality. The redesigned layout has tabs at the bottom for a more streamlined appearance and simpler app navigation. Users may enjoy a more modern visual experience with colour theme changes, such as deeper white and black backgrounds depending on the bright or dark theme.

In summary, WhatsApp’s continuous efforts to roll out new features and improve the platform’s design highlight the company’s dedication to enhancing user experience and promoting smooth communication. In the next WhatsApp updates, users may expect the release of these intriguing new features.

Suhani Jain

NASA Confirms ‘Mysterious Object’ That Hit Florida Man’s House Originated From Space Station

Leave a Comment / News, Tech News / By Sahil

A Florida man’s recent encounter with a mysterious object that crashed through his roof has been officially linked to the International Space Station (ISS), according to NASA officials. The space agency confirmed Monday that the debris, which initially puzzled local officials and scientists, is actually a fragment of recent space station activity.

The unusual incident happened last month when Naples resident Alejandro Otero’s son was startled by a loud noise in his living room. Upon investigation, a small metallic object was found on his son’s living room floor. “It was like a science fiction movie,” Otero told reporters.

NASA responded quickly to images of the object circulated on social media, sending a team to Otero’s home to retrieve the debris and conduct initial testing. Initial examinations showed that the composition of the material was consistent with that used in the space station module.

Image Source: news18.com

NASA ground controllers used the International Space Station’s robotic arm to release cargo pallets containing old nickel hydride batteries from the space station following the delivery and installation of new lithium-ion batteries as part of a power upgrade at the orbital outpost. The total mass of hardware released from the space station was approximately 5,800 pounds,” the space agency detailed in a blog post.

The incident has raised questions about the safety of re-entry of space debris, which NASA is closely monitoring. “Although most space debris burns up in the atmosphere, small pieces can occasionally reach the surface,” the agency confirmed. He reassured the public that NASA is committed to ensuring that these events are kept to a minimum and that they maintain rigorous tracking systems to monitor the objects as they return to Earth.

Meanwhile, Alejandro Otero is left with minor repairs on the house and an extraordinary story. “It’s not every day that a part of the space station lands in your living room,” he said with a smile.

NASA promised to cover all repair costs for the damage caused to Otero’s home and invited him to attend the launch as a special guest, offering him a closer look at those operations. Which have indirectly affected their household.

Also Read: Chip Startup Rivos Secures Over $250 Million in Funding Amidst AI Industry Boom

As space agencies continue to explore and exploit Earth’s orbit, incidents like this are important reminders of the complexities and risks associated with space debris and the importance of sustainable space exploration practices.

Sahil

Chip Startup Rivos Secures Over $250 Million in Funding Amidst AI Industry Boom

Leave a Comment / News, start-up, Tech News, Tech Story / By Sandhya Gupta

Silicon Valley-based chip developer Rivos Inc. has successfully secured more than $250 million in funding, marking a significant milestone as it advances towards the launch of its inaugural product. This accomplishment highlights the burgeoning demand for innovative hardware solutions tailored to the burgeoning field of artificial intelligence (AI). The recent funding round was led by Matrix Capital Management, with notable contributions from prominent investors such as Intel Capital and Taiwan’s MediaTek Inc.

Targeting AI Market Dynamics

Image Source: datacenterdynamics.com

Rivos strategically positions itself to cater to AI users seeking alternatives to high-cost, high-power chips like those offered by industry giants such as Nvidia Corp. The company’s focus lies in serving customers engaged in data analytics and generative AI applications, capitalizing on the escalating popularity of AI-driven technologies, exemplified by advancements like ChatGPT.

Puneet Kumar, Rivos co-founder, and CEO emphasized the company’s approach, stating, “We can target potentially smaller installations where Nvidia might seem like an overkill from a cost perspective.” This strategy allows Rivos to offer competitive solutions that deliver optimal performance without the premium price tag.

Innovative Chip Design and Future Plans

Rivos adopts the open-standard RISC-V architecture, positioning itself in direct competition with Arm Holdings Plc. While specifics regarding chip structure, release timelines, and valuation remain undisclosed, the company’s vision includes piloting chip production using Taiwan Semiconductor Manufacturing Co.’s cutting-edge 3NE process technology, renowned for its advanced mass production capabilities.

The infusion of fresh capital will fuel Rivos’s endeavors, enabling it to accelerate chip development and deployment strategies. Collaborations with strategic partners such as VentureTech Alliance and existing investors like Walden Catalyst, Dell Technologies Capital, and Koch Disruptive Technologies underscore Rivos’s commitment to innovation and market penetration.

Industry Visionaries and Legal Challenges

Rivos’s journey is steered by industry luminaries like Lip-Bu Tan, the founding chairman, and early supporter. Tan’s extensive experience in chip design and successful ventures with tech giants like Amazon.com Inc., Qualcomm Inc., and Intel Corp. lends credibility to Rivos’s long-term potential, particularly in data analytics and generative AI domains.

Also Read: Fintech Unicorn Bunq Secures €29M to Fuel UK and US Expansion

The company’s path to success hasn’t been without hurdles, as evidenced by its legal tussle with Apple Inc. over alleged trade secret theft. However, a recent agreement between Rivos and Apple signals a resolution, clearing the path for the successful funding round and reinforcing Rivos’s trajectory in the competitive chip market.

As Rivos continues to innovate and navigate the dynamic AI landscape, its strategic alliances, visionary leadership, and technological prowess position it as a formidable player poised for significant contributions to the AI hardware ecosystem.