IIT Madras-incubated Plenome bags Rs 6.5crore funding
CHENNAI: IIT Madras-incubated Plenome Technologies, a blockchain-based data management startup, has raised a seed funding of Rs 6.5 crore from Ovington Capital Partners, a Luxembourg-based investment firm, UAE-based AADI, and veteran investor Manish Gandhi.
Founded by IIT Madras faculty and serial entrepreneur Prabhu Rajagopal, along with Vijayaraja Rathinasamy and Anirudh Varna, it develops blockchain-based applications to protect users' privacy and security of records.
Speaking to TOI, Rajagopal said the startup would initially focus on healthcare data, targeting customers in the US, the UK and the UAE market, where the regulatory environment is mature.
'Enterprises have started to increasingly focus on data security and cybersecurity after major security breaches.
With the adoption of AI, there are more risks such as data poisoning, where AI models are deliberately fed with misinformation,' he said.
Plenome plans to work with hospitals and clinics directly as well as with healthcare software platforms. It is developing an AI-SaaS platform for structured record creation and insight generation. The startup is conducting trial runs for an AI-based electronic data capture, record maintenance and insight generation platforms in the dental specialisation within healthcare, Rajagopal said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
This Could Be the Best Time to Trade Gold in 5 Years
IC Markets
Learn More
Undo
Emerging from the research group on automation and data engineering at IIT-M, Plenome develops blockchain-based solutions for applications in safety-critical fields. It is based on a patented architecture. Plenome is also developing a distributed artificial intelligence (AI) protocol, where multiple agents work together to solve a problem.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
16 minutes ago
- Mint
Coldplay concert cheating scandal: Why HR executive Kristin Cabot hasn't been fired yet
Kristin Cabot, the Chief People Officer at US-based data science company Astronomer, is at the centre of a viral scandal involving the company's now-former CEO Andy Byron, but she has not yet been sacked from her role, despite growing public pressure. According to a New York Post report, legal experts suggest that firing her might not be as straightforward as it seems. The controversy erupted after Coldplay frontman Chris Martin called out Cabot and Byron from the stage at a recent concert at Gillette Stadium, Boston, with the duo allegedly caught 'canoodling' on the jumbotron. The moment went viral online and led to Byron's swift resignation. Cabot, however, has only been placed on leave while an internal investigation is underway. While the company confirmed the probe, it has remained tight-lipped about Cabot's employment status. Lawyers cited by the New York Post suggest that this may be due to potential legal and contractual liabilities, particularly since Cabot leads the HR department. 'In a real-world big company, you can't just fire someone because the headlines are ugly,' attorney Nicole Brenecki told The Post, noting that any decision would likely involve careful legal vetting, internal reviews, and possibly even exit negotiations. Cabot, who joined Astronomer in November 2024, has not publicly commented on the incident. Both she and Byron are reportedly married to other people, according to their social media activity, adding a personal layer to the workplace scandal. Pete DeJoy, Astronomer's interim CEO and co-founder, acknowledged the intense scrutiny in a LinkedIn post, calling the attention 'surreal' for the company. 'While I would never have wished for it to happen like this, Astronomer is now a household name,' he wrote. As for Cabot's future at the company, attorney William Cafaro believes discussions around her exit may already be underway. 'It's difficult to conceive how she could continue in her current role,' he said, adding that, from a legal standpoint, her public involvement with the CEO could constitute cause for termination. However, other lawyers noted that unless the relationship was non-consensual or involved coercion, it's unlikely that Cabot could file a sexual harassment complaint — even though Byron was her superior. 'Being embarrassed on a jumbotron isn't the same as being harassed at work,' Brenecki said. Attorney Douglas Wigdor pointed out that more information about the relationship could still surface. 'Maybe there's more to the story from her,' he said, adding that the brief video clip from the concert doesn't provide enough context. The final decision on Cabot's employment may rest on the outcome of the internal inquiry, and whether the HR department had previously approved or overlooked the relationship.
&w=3840&q=100)
Business Standard
16 minutes ago
- Business Standard
Subway hires former Burger King executive Jonathan Fitzpatrick as new CEO
Subway has hired a former Burger King executive as its new CEO. The Miami-based sandwich chain said Monday that Jonathan Fitzpatrick will join the company on July 28. Fitzpatrick is the first CEO hired since Subway was bought by the private equity firm Roark Capital in 2024. And Roark didn't have to look far to find him. Since 2012, Fitzpatrick has been the president and CEO of Driven Brands, which is also owned by Roark. Driven Brands is the parent company of auto service brands like Meineke Car Care Centers and Maaco. Before joining Driven Brands, Fitzpatrick held multiple senior leadership positions at Burger King, including executive vice president. Subway was founded in 1965 and was still owned by its founding families when it was purchased by Roark. It's one of the world's largest restaurant chains, with nearly 37,000 outlets in more than 100 countries. But in recent years, Subway has been losing sales to fast-growing rivals like Jersey Mike's and Firehouse Subs. The company tried to catch up. In 2022, it announced a line of chef-developed sandwiches after finding that customers were tiring of Subway's traditional model of letting customers build their own subs. When Roark bought Subway, it said it planned to continue to modernize restaurants and expand internationally. It left in place Subway's CEO John Chidsey, who was the first nonfamily member to lead Subway when he joined the company in 2019. But Chidsey retired late last year. Roark, which is known for its expertise in restaurant management, backs two holding companies that own multiple restaurant chains: Inspire Brands, the parent of Arby's, Dunkin', Jimmy John's, Sonic and Buffalo Wild Wings; and GoTo Foods, which owns Auntie Anne's, Carvel, Cinnabon and Jamba. In June, Roark bought Dave's Hot Chicken in a deal valued at $ 1 billion. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
16 minutes ago
- Economic Times
Monarch Surveyors IPO opens for subscription amid strong investor buzz; GMP at 64%
Monarch Surveyors and Engineering Consultants opened its Rs 94 crore IPO for subscription today, drawing strong investor attention with a grey market premium (GMP) of 64%. The IPO, which is entirely a fresh issue of 37.5 lakh equity shares, is priced in the band of Rs 237 to Rs 250 per share. ADVERTISEMENT The issue will close on July 24, with allotment expected on July 25 and listing scheduled for July 29 on the BSE SME platform. At the retail end, investors must apply for at least 1,200 shares (two lots), translating to a minimum investment of Rs 2.84 lakh. The IPO is being managed by Beeline Capital Advisors, with Bigshare Services acting as registrar. Spread X Securities is the market in Mumbai, Monarch Surveyors provides end-to-end civil engineering consultancy services across the infrastructure landscape — including roads, railways, ports, oil & gas, and urban transit offerings span surveying and mapping, geotechnical investigations, GIS-based land planning, engineering design, project reports, and bid process management. ADVERTISEMENT The company prides itself on precision, technical depth, and optimal resource utilisation — strengths that have helped it build a wide client base and execute high-stakes projects Surveyors has seen consistent financial growth, with revenue rising 10% year-on-year to Rs 155.66 crore in FY25, while profit after tax surged 16% to Rs 34.83 crore. ADVERTISEMENT The IPO proceeds are aimed at scaling operations. About Rs 32 crore will be used to fund capital expenditure for new machinery, Rs 30 crore for working capital needs, and the rest towards general corporate the grey market premium running at 64% over the upper band, the IPO has already generated strong investor appetite. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
