ELASTIC RUN
The future of AI depends on how we design the energy infrastructure that powers it
The design challenge is to make the building, its engineering systems, and its computing infrastructure work as one, accommodating rising densities and new technologies without repeated redesign.
More baby elephants, enough EC: It makes no sense to consume bad news, a world that feels good about good news should only stick to it
The baby elephant rescue in Siliguri elicited widespread positive sentiment, contrasting with negative political news. Public sentiment often influences markets, regardless of objective economic performance. Reports highlight how perceptions of good news and bad news impact consumer confidence and investment behavior. While bad news may retain attention, the desire for positive news remains prevalent. Overall, a balance in news reporting influences emotional and financial responses in society.
Ban on US diesel exports would hurt, not help fuel markets, analysts say
US President Donald Trump has expressed support for a diesel export ban to help lower rising prices. Diesel prices in America have reached a record high, largely due to global supply disruptions. Analysts caution that the proposed ban may exacerbate issues rather than alleviate them, affecting both domestic and international markets. Major industry groups oppose the export ban due to potential negative impacts on refinery operations.
In 1755, Immanuel Kant earned a degree with a study of fire; the philosopher’s early work explored nature long before his famous moral theories
Long before Immanuel Kant mapped the boundaries of human reason or drafted his famous moral theories, he spent his early academic years studying the physics of fire. In 1755, he earned a higher degree with a Latin treatise that examined heat, fluidity, and the mechanics of elastic matter. That lesser-known work revealed a curious mind deeply fascinated by the material universe long before he turned entirely toward abstract philosophy.
In 2022, RMIT tested shredded masks, rubber gloves and isolation gowns in concrete; gloves raised strength by up to 22% and masks by up to 17%
RMIT University researchers discovered shredded personal protective equipment strengthens concrete. Rubber gloves increased concrete strength by twenty-two percent in early studies. Face masks also boosted compressive strength by up to seventeen percent. This innovation offers a circular economy solution for discarded healthcare waste. The findings could lead to stronger building materials and reduced landfill.
North Korea-linked hack hits largely invisible software that powers online services
The cyber researchers described the breach as a supply chain attack, in which the hack could enable attacks on downstream entities. The malicious software, which has since been removed, could have given hackers access to a computer's data including access credentials, which can then be used to carry out additional data theft or other kinds of attacks.
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AWS down and when will it be back up? AWS outage, affected regions, services, error messages, recovery efforts, desktop and mobile users issues explained
AWS down and when will it be back up? Amazon Web Services experienced a major outage in its UAE region after unidentified objects hit a data center, causing fire and power shutdowns. Multiple services are affected while engineers work to restore connectivity.
Elasticity, that right to have all the time
It would be nice for guvs and prezzies to have a timeframe, but no hurry
India charges 52% but was slapped with 'discounted' 27% tariffs by Trump; Here's the maths behind the reciprocal tariffs
Reciprocal tariffs aim to balance U.S. bilateral trade deficits by calculating the necessary tariff rates. These tariffs counteract economic fundamentals and policy imbalances, potentially ranging from 0 to 99 percent. They address issues like regulatory barriers and currency manipulation, helping to level the trading field.
B2B ecommerce firm ElasticRun narrows losses by 42% in FY24; revenue drops 49%
Though CEO Sandeep Deshmukh said the B2B ecommerce firm’s shift of focus to high-margin regional brands has paid off at the net profit level, the company saw revenue from operations fall by 48.6% to Rs 2,434.8 crore.
HSBC estimates Prosus stake in ecommerce unicorn Elastic Run at $200 million
HSBC, in a research note dated May 21, nearly halved the valuation estimate for B2B company Elastic Run, pushing its valuation below the $1-billion 'unicorn' mark. The startup, backed by SoftBank and Prosus, was last valued at $1.5 billion in 2022.
HSBC cuts Elastic Run valuation; Hero MotoCorp doubles down on Ather
HSBC has cut its valuation estimate for B2B ecommerce firm Elastic Run by nearly half, bringing it under $1 billion. More on this in today’s ETtech Top 5.
Staffing companies say festive season will create 20 per cent more jobs this year
As the festive season approaches, there is a surge in hiring across various industries in India. Sectors such as retail, logistics, e-commerce, travel & hospitality, and BFSI are experiencing a significant increase in hiring, with a focus on roles like sales representatives, customer service representatives, technical operators, recruiters, pickers, and packers.
What's making India more susceptible to global trade shocks than before
Putting the data together, the risks to growth from an export recession seem to be larger this time than on previous occasions. Therefore, net external trade will remain a significant drag on growth, especially as import volumes remain stronger than export volumes. The growth in the latter, as indicated by proprietary indices, may soon hit 'zero'.
SoftBank-backed ElasticRun’s revenue doubles to Rs 1,087 crore in FY21
The company, which sells FMCG products to kirana (corner) stores, said it was in “the process of expansion of the distribution network pan-India and hence there has been heavy distribution expenses resulting in the net loss.”
ETtech Deals Digest: Uniphore, ElasticRun, Pine Labs raise funds
Artificial intelligence platform Uniphore, business-to-business (B2B) ecommerce firm ElasticRun and digital payments and financial service provider Pine Labs were among the startups that raised funds this week.
ElasticRun raises $330 mn led by SoftBank, Prosus Ventures, Goldman Sachs
The company has tripled its valuation from $400 million to $1.5 billion after the funding round, cofounder and CEO Sandeep Deshmukh told ET.
ETtech Deals Digest: Polygon, ElasticRun, Livspace raise funds
Secondary scaling solution Polygon, kirana-focused business-to-business ecommerce firm ElasticRun and Omnichannel home interiors platform Livspace were among the startups that raised funds this week.
SoftBank-led funding more than triples ElasticRun’s valuation to $1.5 billion
Started in 2016 by former Amazon executives Sandeep Deshmukh, Shitiz Bansal and Saurabh Nigam, ElasticRun enables small kiranas across the country to source goods— especially in the FMCG space—from leading brands.
ETtech Deals Digest: Urban Company, ElasticRun raise funds this week
On-demand home service provider Urban Company and corner-stores commerce platform ElasticRun were among the startups that raise funds this week.
ElasticRun raises $75 million led by existing investors
The latest round values the company at $400 million post-money and will help expand its reach further into rural markets
Amazon brings macOS to cloud in a boost to Apple app developers
AWS said cloud support for devices with Apple's new M1 chip is in the works, with a launch planned for 2021.
ElasticRun raises $40 million from Prosus Ventures, Avataar, others
ElasticRun will invest freshly raised capital to further build its technology platform, expand categories, and expand its network coverage to new geographies, its cofounder Sandeep Deshmukh said.
Avataar Venture Partners to invest $300 million in B2B and SaaS companies
Avataar Venture Partners will typically put in $10-$30 million in its portfolio companies, aiming to make about 10 investments from its maiden fund.
South Africa’s Naspers may lead $55 million round in logistics startup ElasticRun
Post funding, the valuation of firm may touch $250 million.
Sequoia Capital, others in talks to invest in ElasticRun
The company aggregates the transportation, logistics and real estate resources that are at the bottom of the supply chain, and aggregates them on its platform to create a virtual logistics network.
Norwest, Kalaari Capital lead $7 million funding round in ElasticRun
The year-old startup will use the proceeds to further build its technology infrastructure, on-board talent and expand operations.
Murari Sridharan, former GM Engineering at Microsoft Redmond appointed as CTO of BankBazaar
Based out of Chennai, Sridharan plans to lead the technology initiatives, specifically focusing upon understanding the users’ intent and building upon the experience of personalization.
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