Latest news with #Bengaluru-headquartered
Time of India
6 days ago
- Business
- Time of India
Infosys' Bengaluru, Chennai, Pune centres top April on-site attendance numbers
Infosys Ltd's development centres in Bengaluru, Chennai and Pune were its top three offices in on-site attendance in April, according to an internal memo to employees. The Bengaluru-headquartered software service exporter shared the April in-office attendance data at a recent all-hands meeting with its India employees. In-person attendance at Infosys' Nagpur, Indore and Gurgaon offices was the lowest, according to the data seen by ET. The move is seen as Infosys' effort to get more people back to its campuses. Infosys' Bengaluru, Chennai and Pune centres registered in-office attendance of 57%, 52% and 50%, respectively. Nagpur, Indore and Gurgaon followed with 46%, 41% and 32%, in that order. Bengaluru-headquartered Infosys has around 323,500 employees, with the majority based in India. It has been following the return-to-office policy since November 20, 2023, requiring employees to work from office for at least 10 days in a month. Live Events The company has made it compulsory for employees at job level (JL) 5 and below to punch in at the office 10 days a month. If employees fail to do so, 'system intervention' gets triggered, which means the employees concerned will have to get their unofficial absence approved by their managers, else those days get marked as 'leave'. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Employees at JL5 include team leaders while those below include software engineers, senior engineers, system engineers and consultants. JL6 and above include managers, senior managers, delivery managers and senior delivery managers, but exclude vice presidents. Tata Consultancy Services ( TCS ), India's biggest IT company and Infosys' rival, had introduced a five-day work-from-office policy in October 2023, which was linked to employees' variable pay. Wipro , Infosys' cross-city rival, introduced a hybrid work policy that required employees to work from the office for at least three days a week. For more than a year now, many top software services exporters have tightened their work-from-home facilities in a bid to boost office attendance. This was done in the wake of not just the rise in cyberattacks and moonlighting, but also to encourage the benefits of working in a shared physical space. In April last year, K Krithivasan, chief executive of TCS, had highlighted that return to the workplace created 'shared experiences, nurturing greater learning, collaboration and camaraderie'. At its quarterly results conference, the management said that almost 65% of TCS' associates were then attending office for 3-5 days a week, within a quarter of the policy's implementation. TCS and Infosys did not respond to requests for comment. Other top-tier Indian IT firms, including HCLTech, Wipro, Tech Mahindra and LTIMindtree , also did not respond. Salil Parekh-led Infosys further broke down the data as per segments and job levels. In terms of verticals, engineering IoT (internet of things) topped with 71% across job levels, followed by engineering medical with 55%, IoT with 53%, and engineering automobile with 30%. Employees at JL6 across verticals recorded attendance between 62% and 73%. The next best performers were at JL5. In its latest annual report, Infosys said its hybrid work model, built around people and their comfort, offers the flexibility of working from home and office, at locations closest to their homes. 'As part of this strategy, we have set up offices in Ahmedabad, Guwahati, Kolkata, Visakhapatnam, Noida, Hubballi, Indore, Navi Mumbai, Nagpur and Coimbatore in India over the last few years,' the report said.
Time of India
21-06-2025
- Business
- Time of India
Capillary Technologies' DRHP highlights rising competition, AI impact on business
Customer engagement and loyalty tech provider Capillary Technologies ' draft red herring prospectus (DRHP) highlights increasing competition to acquire and retain enterprise customers amid increasing impact of artificial intelligence (AI), challenging macroeconomic conditions and changing market dynamics. The Bengaluru-headquartered company filed its DRHP with the Securities and Exchanges Board of India on June 18, after it shelved its initial plans in 2021. It is looking to raise Rs 430 crore through its initial public offering this year. The company reported revenue of Rs 598 crore for 2024-25, up 13.9% from Rs 525 crore in the previous financial year, according to data from the DRHP. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Discover the best air conditioner unit prices in the Philippines 2024 Air Condition | Search Ads Search Now Undo Enterprise customer retention Capillary Technologies lost three customers in 2022-23 and one each in 2023-24 and 2024-25. In the case of large enterprise customers, it is facing competition from firms that offer similar services targeting enterprise customers as they cut costs, restructure and develop products in-house. Live Events 'While the afore-mentioned instances did not materially impact our financial condition, we cannot assure you that our business, financial condition and results of operations will not be adversely affected in the future due to such instances,' the DRHP said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The AI impact In the DRHP, the company said that AI – which has been mentioned 81 times, compared to 18 times in the draft red herring prospectus filed in 2021 – is complex and rapidly evolving, and that it faces significant competition in the market and from other companies regarding such technologies. 'The adoption of Gen AI by various industries could lead to changes in our customers' operations. By adopting Gen AI, our customers may develop in-house capabilities which could impact the extent to which customers rely on us and reduce their need for our services,' it said. In addition, the company said it is incorporating AI in its solutions and business operations. 'Our research and development of such technology remains ongoing. AI presents risks, challenges, and unintended consequences that could affect our and our customers' adoption and use of this technology,' it said. R&D, acquisitions To maintain its competitive edge, the company has been investing significantly in AI. It invested 21.50% of its revenue in 2024-25, lower than 28.04% in the previous fiscal in research, design and development. According to the DRHP, the company will invest Rs 151 crore in research and development. It will also focus on inorganic growth through acquisitions to enter new business areas as a strategic initiative, the company said, albeit without disclosing the expenditure earmarked for this.
Economic Times
21-06-2025
- Business
- Economic Times
Capillary Technologies' DRHP highlights rising competition, AI impact on business
Customer engagement and loyalty tech provider Capillary Technologies' draft red herring prospectus (DRHP) highlights increasing competition to acquire and retain enterprise customers amid increasing impact of artificial intelligence (AI), challenging macroeconomic conditions and changing market dynamics. The Bengaluru-headquartered company filed its DRHP with the Securities and Exchanges Board of India on June 18, after it shelved its initial plans in 2021. It is looking to raise Rs 430 crore through its initial public offering this year. The company reported revenue of Rs 598 crore for 2024-25, up 13.9% from Rs 525 crore in the previous financial year, according to data from the DRHP. Enterprise customer retention Capillary Technologies lost three customers in 2022-23 and one each in 2023-24 and 2024-25. In the case of large enterprise customers, it is facing competition from firms that offer similar services targeting enterprise customers as they cut costs, restructure and develop products in-house. 'While the afore-mentioned instances did not materially impact our financial condition, we cannot assure you that our business, financial condition and results of operations will not be adversely affected in the future due to such instances,' the DRHP said. The AI impactIn the DRHP, the company said that AI – which has been mentioned 81 times, compared to 18 times in the draft red herring prospectus filed in 2021 – is complex and rapidly evolving, and that it faces significant competition in the market and from other companies regarding such technologies.'The adoption of Gen AI by various industries could lead to changes in our customers' operations. By adopting Gen AI, our customers may develop in-house capabilities which could impact the extent to which customers rely on us and reduce their need for our services,' it addition, the company said it is incorporating AI in its solutions and business operations. 'Our research and development of such technology remains ongoing. AI presents risks, challenges, and unintended consequences that could affect our and our customers' adoption and use of this technology,' it said. R&D, acquisitions To maintain its competitive edge, the company has been investing significantly in AI. It invested 21.50% of its revenue in 2024-25, lower than 28.04% in the previous fiscal in research, design and development. According to the DRHP, the company will invest Rs 151 crore in research and development. It will also focus on inorganic growth through acquisitions to enter new business areas as a strategic initiative, the company said, albeit without disclosing the expenditure earmarked for this.
Time of India
18-06-2025
- Automotive
- Time of India
Oben Electric bags ₹100 crore in Series A funding
Oben Electric , homegrown electric motorcycle manufacturer , has announced the completion of its Series A funding round with a total raise of ₹100 crore. In January 2025, it secured ₹50 crore, followed by additional ₹50 crore in May 2025, taking the total Series A funding to ₹100 crore and overall funding to ₹200 crore. The round saw participation from both new and existing investors, including Helios Holdings, the Sharda family office, the Kay family, and others. The company stated that the new funds would be used to scale manufacturing capacity, expand its presence to over 150 showrooms across more than 50 cities by FY26, and support development of a new product platform named 'O100' targeting motorcycles under ₹1 lakh. Madhumita Agrawal, Founder & CEO of Oben Electric, said: 'The extended Series A funding is a strong vote of confidence from our investors and comes at a time when our momentum is accelerating nationwide. We're expanding not just our retail footprint but also our innovation roadmap with platforms like O100 that aim to democratize electric motorcycles for the mass market. Backed by full vertical integration and a resilient supply chain, this funding prepares us for a new phase of scale, impact, and growth opportunities.' Following the initial Series A raise, Oben Electric rapidly scaled with 37 retail outlets across 26 cities in 13 states, entering key markets like Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh, and Odisha. Oben Electric designs and manufactures both electric motorcycles and their critical components, including Lithium Iron Phosphate (LFP) batteries, motors, vehicle control units, and home fast chargers. The Bengaluru-headquartered firm's current lineup includes the Oben Rorr and Rorr EZ. It is also planning a $30 million Series B funding round later in 2025 to support international expansion and further product development.
Yahoo
17-06-2025
- Automotive
- Yahoo
Car-sharing giant Zoomcar says hacker accessed personal data of 8.4 million users
Indian car-sharing marketplace Zoomcar has revealed that a hacker accessed the personal data of at least 8.4 million customers, including their names, phone numbers, and car registration numbers. The Bengaluru-headquartered company identified the incident involving unauthorized access to its information systems on June 9, per its filing with the U.S. Securities and Exchange Commission. The company stated that it became aware of the incident after some of its employees received external communications from a threat actor who claimed to have gained access to the company's data. 'Upon discovery, the company promptly activated its incident response plan,' said Zoomcar in its filing. The company said there was 'no evidence that financial information, plaintext passwords, or other sensitive identifiers' were compromised in the breach. Responding to the incident, Zoomcar said it implemented 'additional safeguards across the cloud and internal network, increasing system monitoring, and reviewing access controls,' without providing further details. The company also stated that it is engaging with third-party cybersecurity experts and has notified 'appropriate regulatory and law enforcement authorities and is cooperating fully with their inquiries.' However, Zoomcar has not yet said if it has informed affected customers about the incident, and whether it has any information about the hacker. TechCrunch has reached out to Zoomcar, asking these questions and more, and will update this article when the company responds. Founded in 2013, Zoomcar allows customers to rent cars on a monthly, weekly, daily, and hourly basis. The company operates in 99 cities with over 25,000 cars and has more than 10 million users, per the data available on its investor relations website. In addition to India, the company operates in Egypt, Indonesia, and Vietnam. In February, Zoomcar reported a 19% year-on-year increase in car rentals to 103,599 bookings. Contribution profit jumped over 500% to $1.28 million, while net loss stood at $7.9 million. 'To date, the incident has not resulted in any material disruption to the company's operations,' the company said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
