Procesio, an innovative Romanian platform based on the No-Code technology, developed by local software developer Ringhel, will list on local equity crowdfunding platform SeedBlink next week.
Procesio thus aims to raise EUR 650,000 to accelerate its global growth.
The round will have two stages: the first, dedicated to recurrent SeedBlink investors, will start on April 12, followed by the general listing on April 15, dedicated to all those with an investor account. The investment ticket starts at EUR 2,500.
In 2020, the company conducted the first round of seed-type financing through SeedBlink and raised EUR 556,000 to develop the Procesio platform. Recently, the company launched the platform's private version internationally, according to the objectives set in the previous round of financing, and the public launch is to take place in July 2021.
As the current context in the global market favors the adoption of Procesio faster than expected, the founders decided to fuel the expansion with a new investment round. The company aims to obtain recurring revenues from Procesio at a level of over EUR 1.8 mln in 2022 and reach a valuation of over EUR 1 bln in 2027.
"Procesio has the chance to become a new unicorn with Romanian DNA. We are pleased with the confidence that SeedBlink investors have placed in our company in the previous round of financing. We have fulfilled our promises for 2020 and are confident that we can achieve much better results than anticipated. We now have the opportunity to accelerate the expansion of Procesio globally," said Mihai Darzan, CEO of Ringhel.
Source: Romania Insider
Constanta, Romania-based marketing content creation platform has raised €600,000 to automate content creation.
The funding is expected to be used towards growing the team, further product development, and push into foreign markets, particularly the CEE region, DACH, and the Nordics.
“Digital advertising has exploded over the last ten years and has grown to an extent where bots are bidding against other bots to capture the relevant audience,” comments Eleven Ventures venture partner Hristo Hristov. “However, something that has not changed and is still done in the majority by humans are the creatives one has to put in the advertising platforms.”
Looking at a ProductLead video, the most your humble author can make out of this is that it’s automating social media garb, umm, content creation by leveraging existing brand and e-commerce assets as well as user-generated video and still content. So, basically, Canva, but automated. *Yawn*.
The company reports that “The technology empowers any marketeer to develop efficient creatives, 10x faster and at 1/10 of the cost.” I’m also going to go with 1/10th of the originality.
“We are very excited by the success of this round of investment, which will allow us to speed up our growth. We put a lot of passion and effort to ensure high-quality services to our clients, helping them scale their digital content quickly, ensuring high-volume, high-quality creative production with the use of technology and automation,” comments Mihai Bocai, CEO ProductLead.” Our business objectives focus on growth and partnerships, on-boarding customers across key industries and geographies, giving us the grip we need to strengthen our value proposition for Series A.”
Only a few weeks after the country’s 3.6GHz spectrum auction finally took place, operator Telenor Bulgaria has announced that it has scheduled the commercial nationwide launch of its 5G service for 10 June.
The plan is that by this summer the Telenor Bulgaria 5G network will cover all the major cities in Bulgaria. It will also be available in the country’s main seaside resorts, presumably in the hope that visitors from elsewhere in the country will be able to holiday there by that time.
The company says it aims to continue to widen its coverage and add new locations. In fact, according to a statement quoted on the SeeNews website, Telenor’s goal is to become a market leader in terms of 5G coverage and network experience by the middle of 2022.
The speed of this rollout is impressive considering that it was only in early April that, after an auction, the Bulgaria's Communication Regulation Commission (CRC) awarded 20-year 5G frequency licences with national coverage to the three main telecommunication companies operating in the country.
The 5G spectrum auction started and finished in a single day, raising some US$8.1 million for the state. It included seven rounds and saw all three operators – Vivacom, A1 and and Telenor Bulgaria – secure frequency spectrum in the 3.6GHz band.
This followed a challenge by Vivacom to the regulator’s original plan to award 5G spectrum without an auction.
Bulgaria's Sirma Solutions has acquired 1,437,786 shares in its parent company - Sirma Group Holding, for a total of 718,893 levs ($437,169), the software group said.
Sirma Solutions acquired the shares through four deals on the floor of the Bulgarian Stock Exchange on April 6, Sirma Group Holding said in a stock exchange filing.
Novi Sad, Serbia-based Anari AI has raised $2 million in seed funding led by Earlybird, with participation from Acequia Capital, Serbian Entrepreneurs, and angel investor and “The Lean Startup” author Eric Ries.
Anari is a cloud-based AI chip factory that makes custom-designed AI chips available to all with just one click. Through this approach, Anari allows for companies to build and deploy AI solutions in weeks instead of the industry de facto, 12-18 months. All at a fraction of the cost of traditional hardware development.
“Dedicated designs or flexible architectures are expensive, time-consuming and require hardware skills (in short: take lots of effort). Anari is a game-changer in two ways: it removes the trade-off between performance and effort, and it makes AI-problem-specific chip solutions available instantaneously in the cloud. I am excited about this huge potential,” comments Earlbird co-founder and Partner Roland Manger.
Built upon a custom Python-based programming framework, Anari makes it possible for software engineers to become hardware designers.
The first customisable AI chip from Anari is Thor X, delivering 100x more efficient processing of 3D Point Cloud/Graph data structures when compared to a high-end GPU.
“You no longer have to tune your model to the computing infrastructure that’s available and designed for broad and generic use cases,” said Sasha Ostojic, former NVIDIA software VP and now Operating Partner at Playground Global. “ Anari’s cloud chip technology is the future of cloud computing.”
“In a world where everything is expected to be customizable and in the cloud, it has only been a matter of time until someone breaks into the semiconductor industry with a disruptive approach. With its virtual chip factory, Anari.AI enables the world to create fully customisable AI chips 100x faster and at a fraction of the costs. Now also with the predictable global chip shortage, it is a no-brainer that the stellar team around Anari will be a major player in defining the next computing paradigm,” adds Auer-Welsbach.
An Interview with Intetics founder Boris Kontsevoi:
When British computer scientist Tim Berners-Lee launched the first-ever website in 1991, few people could even see it. But Belarusian Boris Kontsevoi was intrigued.
Four years later, Kontsevoi founded the software company that would later be known as Intetics to develop software for the early internet.
Belarus did not have its own internet provider at the time, so Kontsevoi and his four partners used their single laptop to connect to a host in Germany and access the web.
“The internet company was established without the internet,” Kontsevoi told the Kyiv Post.
Kontsevoi had already been a computer system designer before founding Intetics in January 1995, but only after the Soviet Union collapse did he come to believe he could run his own tech business.
At first, his company operated under the name Client-Server Programs. It was renamed Intetics in 2003, which is a combination of three words: Internet, Technology and Ethics.
More than two decades have passed since then, and Intetics is now a global software company that has over 700 employees operating from 11 offices in six different countries: the United States (Naples, Chicago and Wilmette), Germany (Dusseldorf), the United Kingdom (London), Belarus (Minsk), Poland (Krakow) and Ukraine (Kyiv, Kharkiv and Lviv).
Headquartered in Naples in southwest Florida, Intetics is now an American company with Belarusian roots. It develops software for different purposes.
Professional teams of specialists at the company conduct interviews with clients to understand their needs and elaborate on their ideas. Though the company mainly focuses on software product development, it also provides other services like IT support, quality assurance and data processing.
“We don’t just produce software — we come up with solutions for our customers,” Irina Dubovik, the company’s digital marketing director, told the Kyiv Post.
Intetics serves customers all over the world, but most of its developers are based in Eastern European countries like Ukraine. Kontsevoi said he sees a lot of “technical talent in Ukraine.”
One of the company’s most significant contributions is the creation of a digital map in Ukraine. The navigation system is used in more than half of the cars in the country, according to Kontsevoi, who is also a member of Forbes Tech Council.
The IT firm has also created and adopted a framework called Predictive Software Engineering that helps companies assess the performance of outsourcing companies and track development progress.
Serving wide range of industries from agriculture to education, Intetics has been recognized as one of the world’s best outsourcing service providers by the International Association of Outsourcing Professionals for 15 years in a row.
The company is one of the few businesses that have specialized in web development since the internet’s early days. Now Kontsevoi’s goal is “to grow faster than the competition and move into top 10 outsourcing companies in eastern Europe.”
Year founded: 1995
CEO, president and founder: Boris Kontsevoi
Number of employees: 700+
Motto: “Be one step ahead of the competition.”
Since 1994, CNW System Integrator Co. (CNW) has successfully implemented numerous medium and large IT projects in public administration and in almost all areas of the private sector across Hungary and central Europe. As strong advocates for the benefits of lifelong learning, CNW has progressed specialist services in delivering Moodle based solutions over the last decade, particularly in the corporate or workplace learning sector.
CNW CEO, István Fekete explains, “In recent years, we experienced a growing interest in corporate online learning services. This trend was fueled by the COVID pandemic and the need for organisations to switch to working remotely. This has resulted in an increase in companies using online learning to train new employees and pass specialized knowledge to them in a cost-effective manner. There are various European Union projects that serve as an incentive to expand and encourage online learning in the corporate sector.”
CNW is the first Hungarian information technology service company to join the Moodle Certified Partner network.
“In a fast-paced economy lifelong learning is a key to success. For us, this is not only a business strategy but also a mission. By joining the Moodle Partnership Program, we will continue to enhance our knowledge and expertise in eLearning, offer better services, and help not only other companies, but the people working in those organisations.
“We believe that our company’s values closely match with Moodle’s and that a partnership will benefit both Moodle and our company. With this partnership our goal is twofold. On the one hand, we aim to enhance the services we offer with the help of Moodle. On the other hand, we would like to grow our business through this partnership opportunity and find new potential clients locally and within our region. We believe it is important to represent Moodle and its services in Hungary and provide Hungarian language support for the Moodle community,” says Fekete.
CNW offers cloud-based installation packages, support and development services and assists clients with Moodle site design and courseware creation. The company has developed a test bank application to enhance the experience and simplify the process of testing and also has significant experience in different system integration services including AD, ADFS, SSO integration, Moodle integration with access control systems, unique corporate governance software, HR software and eSignature integration.
“It is great to have an organisation with the credentials of CNW join the Moodle Certified Partner network and ensure that Moodle customers in Hungary are able to access the highest quality Moodle services,” says Juan Lucca Garcia, Moodle’s Chief Commercial Officer.
While the workplace learning market has rapidly grown in the Hungarian economy, education based online learning is not as widespread. CNW System Integrator predicts a shift in uptake because the Hungarian Institute for Educational Research and Development has made interactive and online learning materials available to the sector and the impact of COVID has created an increased appetite for online learning based solutions.
CNW has completed many successful Moodle based projects over recent years including two hallmark projects with Egis Pharmaceuticals PLC (Egis Pharmaceuticals) and the Suzuki Corporation.
Egis Pharmaceuticals sought CNW’s assistance to develop an international eLearning platform that would integrate Azure and be available in 12 different countries. CNW established an eLearning solution for them, provided training, customised development, and delivered continuous support. The main challenge of this project was setting up an active directory, and fulfilling their IT requirements.
They also developed a site for the Hungarian branch of Suzuki Corporation where technicians could engage in an in-house competition. To achieve this, CNW developed a cloud-based Moodle site with a customised reporting system which they now operate and maintain. Established as a pilot project, Suzuki has now started to use this solution in other countries.
Other key clients include Goupama, Central Hospital of Southern Pest, Díjbeszedő Holding Zrt., Hungarian Red Cross, OTP Bank Plc and SMR Automotive Mirror Technology Hungary
Makery is a provider of digital services with a suite that includes product strategy, product design, engineering, testing and quality, project management, training and support, and staff augmentation.
And, according to TIER, it has established a relationship with Makery, as the Hungarian company successfully supported TIER’s product and tech team during the micro-mobility provider’s growth journey.
With more than 900 employees, TIER says it will absorb all of Makery’s 27 team members who are working in the field of product strategy, design, engineering, and project management.
The team in Budapest will be responsible for building the company’s consumer-facing products, led by the Makery founding team Andras Kindler, Gyula Voros, and Balazs Zsedely, who will all join TIER’s leadership team.
Matthias Laug, CTO and co-founder of TIER, says, “Our plan is to expand the number of employees in the upcoming months with more local talent as well as team members who work remote from all over the world.”
As part of its European expansion, TIER also announced that it will launch its service in Hungary this Summer. Gyula Voros, co-founder of Makery and new VP Engineering at TIER, said, “We always strived to build a hub in Budapest, where talented people can work on highly impactful problems that actually make a difference. We are excited to continue on this journey together with TIER.”
The company expects to be the only provider in Hungary to use e-scooters with swappable batteries, which it believes will cement its leadership as the most sustainable micro-mobility provider.
TIER’s battery-swapping tech and fully owned operations, which utilises electric cargo bikes and electric vans, eliminates the need to transport the vehicles to warehouses for charging. This reduces the operational costs as well as emissions and has enabled TIER to remain fully climate-neutral since January 2020.
A local team of permanent employees will be responsible for conducting regular roadside health checks and replacing depleted batteries on-site.
PARP (the Polish Agency for Enterprise Development) has announceed the results of the “Accelerative Programs – Poland Prize” competition.
33 accelerators took part in the competition, presenting their original concepts of searching for and bringing foreign teams to Poland ready to implement innovative solutions in our country. The value of submitted applications exceeded PLN 326 million, compared to PLN 60 million initially available in the competition. The high level of projects resulted in the selection of as many as 9 operators and the competition budget was increased to over PLN 86.2 million. The competition is financed by the European funds of the Intelligent Development Operational Program.
The task of the program operators will be to find the most interesting foreign young companies with appropriate growth potential and bring them to Poland. The accelerator will take care of the proper start of a young company in Poland, and then enable the establishment of business relationships, resulting in the implementation of a startup product or obtaining investment capital.
Poland Prize acceleration programs will start with the scouting stage, i.e. activities aimed at acquiring startups from outside Poland with appropriate growth potential. Selected accelerators with their offer will reach dozens of the most promising foreign markets around the world and would like to attract startups with the most interesting solutions to the program.
After registering the company in Poland, selected teams can count on a grant of up to PLN 50,000 PLN. These funds should provide a young company with the conditions necessary to start a business in our country: they will finance the first 3 months of operation on the Polish market, provide support for the startup supervisor, team development, establishing relationships, and promotion.
The launch of acceleration programs by selected accelerators is planned for May 2021.
Source and FULL LIST
DocProcess, the leader in business process automation in Romania, announces the opening of a commercial office in the United States. Salim Sunderji, the newly appointed CEO of the Group, will head the office opened in Austin, Texas.
“When we joined forces with Morphosis Capital, we developed a strategy to expand to new markets and become a global player. We want to be present in major markets worldwide not only through the services we offer but also through local offices. Opening a commercial office in the US is a natural step in our development considering that the market is renowned for its high interest in innovative technologies, including in the area of business process automation,” stated Liviu Apolozan, President and VP of Strategy, DocProcess.
Salim Sunderji, who will lead the Austin office, will focus on building a local team and attracting new clients on the US market. In addition to developing the US operations, Salim Sunderji is also responsible for setting up global partnerships and expanding DocProcess services in the UK, Middle East and India.
“We are considering partnerships with various integrators to accelerate the use of DocProcess’s products by US companies. The major advantage of DocProcess’s Business Ecosystem Automation platform is that it suits all types of companies, regardless of the industry in which they operate. Without changing their work infrastructure or internal processes, companies can improve and streamline their business operations through our customized solutions. I expect DocProcess solutions to be in high demand on the US market, where the global pandemic has changed the way companies work, and the way they collaborate with each other and with public institutions,” said Salim Sunderji, Group CEO and Head of DocProcess’s US office.
The Austin office is the third DocProcess location opened outside Romania. In 2018, the company inaugurated a research and development center in Grenoble, followed by a commercial office in Paris, in April 2020. Out of the 63 DocProcess employees, 17 are based outside of Romania.
With the renewed urgency felt by companies worldwide to further their digital transformation efforts, DocProcess expects the demand for automation solutions to grow rapidly on the US, Middle Eastern, European, and Asian markets. According to a survey conducted by PwC, 48% of CFOs plan to accelerate automation and other new ways of working, while 49% of CEOs will significantly increase their investments in digital transformation.
The key benefits of Business Ecosystem Automation are the acceleration of business processes (including invoice processing), a substantial reduction of payment delays, cash savings, as well as improved decision-making due to real-time access to quality data.
Undergoing digital transformation has been identified as a driver for agility, flexibility and scalability. It allows companies to rapidly and seamlessly integrate a large number of new clients, partners and suppliers, regardless of their technological capabilities. In the context of the WFH model that has become increasingly widespread since 2020, Business Ecosystem Automation offers connectivity anytime and anywhere, as long as there is an internet connection.
The company delivers automation solutions to global companies such as Carrefour, Cora, Mondelez, Strauss, eMAG, as well as Romanian entrepreneurial companies such as E-Boda, Altex and Flanco.
Wargaming, the award-winning video game developer and publisher, and one of the leaders on the F2P MMO market, has announced that it will open a new office in Vilnius, Lithuania — making it the 18th global hub for the company.
Vilnius is an ideal location for opening a new base, with a developed infrastructure and an excellent logistics capability, as well as proximity to other company’s offices. Currently, Wargaming has 5,500 employees and is continuously expanding its presence in Europe. Vilnius represents this growth, and within 3-4 years Wargaming plans to increase the number of employees in the new office to several hundred. The new location will strengthen the company’s distributed development model and will also act as a publishing unit with a focus on the current and future projects.
The company will be a great addition to the growing gaming community in Lithuania alongside Unity, Norducrrent, Game Insight and others. The new Wargaming hub will be located in the city centre’s modern business district Šnipiškės and Mantas Katinas will take over the role of General Manager in a new Wargaming office.
“Vilnius already has a strong international reputation in the technology industry and continues to attract global professionals from around the world. With a new Wargaming office and huge plans for the future, I’m certain that this city will create a very vibrant ecosystem for the international gaming industry,” states Mantas Katinas, General Manager, Wargaming Vilnius.
Following the new office opening announcement, MS-1, Wargaming’s premier mobile development studio behind the hit game World of Tanks Blitz, is looking for talent to bolster the company’s new location. For MS-1, Vilnius will become another key spot alongside with their existing offices in Minsk and Moscow.
Source: Invest Lithuania
Source: Invest Lithuania.
We opened an office in Lithuania in 2017, after considering the country’s Fintech-friendly business environment, smooth licensing process, and, of course, the readily-deployable local specialists. When submitting the licence applications, we enjoyed a clear, cooperative and transparent process during which we received all possible assistance from the Bank of Lithuania.
After we were granted EMI and SPB licences at the end of 2018, we continued to get advice, assistance and constant feedback from the regulator, and that was truly useful for expanding our operations. Of course, all of this is balanced with clear and strict rules on supervision after operationalisation.
Getting a licence in Lithuania has allowed us to expand our business across the EU. So, at the moment, our teams in Vilnius are responsible for accelerating the ambitious growth of RevolutBank in Europe.
We already have more than 300,000 Revolut customers in Lithuania. Therefore, offering banking products – insured deposit accounts and credit – was an appealing addition to the end-to-end financial products that are already available in the Revolut app. Our banking licence was the next step in building customer trust and encouraging more people in Lithuania to use Revolut as a daily financial partner.
We have been expanding Revolut Bank across CEE regardless of the pandemic, and I’d say we even have a competitive advantage in these uncertain times. In the peak of the pandemic, it is much safer to consult your phone or computer screen, rather than a bank teller. I see significant growth opportunities for our business model both in Lithuania and the world.
Lithuanian talent has been building Revolut from the very beginning, and the company has always had close ties with the country. Our Vilnius office currently employs more than 200 people across banking, operations, product development, customer support and more.
Our Lithuanian entities are now a hub for allRevolut’s European operations after Brexit. 70% of our 13 million customers are situated in Europe. Therefore, becoming a European bank has always been a priority.
We are building a next-generation bank here in Lithuania, and we have every ambition to leverage our SPB licence to expand operations across Europe which is an essential milestone in Revolut’s goal to build the world’s first truly global financial super-app.
A Polish government program to assist Belarusian IT specialists in relocating to Poland has seen 790 Belarusians obtain visas. But the system leaves gaps in an otherwise burgeoning domestic IT ecosystem.
Poland's "Business Harbor" program — a government-backed assistance program for Belarusians aiming to relocate to Poland — has already brought tangible results after it was launched in September 2020. Visas had been issued to 790 Belarusian IT specialists, Monika Grzelak, a representative of the Polish Investment and Trade Agency (PAiH), told an online conference organized by the Polish Council for the IT Sector (SRKI) in November.
"We are providing IT specialists and their families, as well as owners and employees of companies with a special, accelerated, immigration track," a PAiH representative told DW. "Startups from Belarus receive special funding, and companies of all sizes are provided with a range of dedicated services required to ensure their smooth transition to the Polish business ecosystem," it reads.
Even Prime Minister Mateusz Morawiecki is involved, writing on Facebook that Poland is becoming "a safe haven for engineers, programmers, startups and IT companies from Belarus, especially active during protests and exposed to repression."
Nikolai Oreshkin, a Belarusian venture capitalist, described the exodus as a paradox.
"Intelligent people in IT with a good income from abroad, who replenish the treasury, were forced to leave the country," he told DW, adding: "The most successful people turned out to be the most proactive and defended the rights of the oppressed, and, for this, they get hit on the head with truncheons and are forced to live in fear or leave the country."
It was not meant to be thus when the Belarusian president, Alexander Lukashenko, unveiled his government's groundbreaking startup decree in December 2017, promising state incentives and tax breaks to tech founders in his country.
After ruling for 24 years, Lukashenko seemed to understand the need to diversify his country's economy. Minsk also signed the IT Decree 2.0 — a digital economy initiative designed to simplify business for tech companies — while also attracting international talent by relaxing work permit regulations. Belarus had already made a home for startups in its Hi-Tech Park, which was launched in 2006 and has developed into one of the biggest IT clusters in Central and Eastern Europe. The zone offers a special tax regime for IT companies.
According to a recent report by London-based think tank Emerging Europe, Belarus has emerged as an "IT powerhouse" over the past two decades. Salaries in the sector are 191% higher than average wages in the economy.
"With over 3.7 million individuals employed in the ICT sector, the country has almost twice as many as in Eastern Europe," the report says.
Though India is unarguably the largest player in the sector globally, Emerging Europe has calculated that the number of IT employees per 100,000 inhabitants is "four times higher" in Belarus.
The report's authors also say political repression, economic uncertainty and the prospects offered by an EU member state on its doorstep have seen many IT specialists cross the border to neighboring Poland.
"We became interested in Belarus because it is a phenomenon in terms of IT, not only due to business but also political activities," Anna Kniaz, secretary of the Sectoral Competence Council IT, told the online conference.
"Belarus has for many years performed very well in all world rankings when it comes to IT competency resources, and undoubtedly, in some sense, it could be an example of how to educate IT specialists. It is a small country with less than 10 million inhabitants and educates four times more IT graduates than Poland," she added.
There are already about 2,600 Polish companies in which one of the shareholders is a Belarusian company or a person with Belarusian citizenship, according to international property consulting company CBRE.
"On the Polish IT market, we lack the most diverse programming competences [such as] programming skills based on scripting languages, Java environment or Microsoft.CSharp technologies. Generally speaking, we are able to absorb a lot of programmers in Poland," Przemyslaw Mikus, vice president of Software Development Association Poland, told the online conference.
"Belarus is much closer than, for example, India, so companies look more favorably at this direction of acquiring employees. Our region — I mean Poland, Ukraine and Belarus — is really the best in global rankings in terms of programming quality," he added.
Making it possible to deliver high-performance machine learning at the edge while simultaneously reducing the power consumption associated with this compute.
an Jose-headquartered SiMa.ai is gearing up to disrupt the $40 billion embedded edge market. SiMa.ai is the brainchild of Krishna Rangasayee, who has previously led the $25 billion+ worth semiconductor business at Xilinx.
The launch of a new design centre in Bengaluru ties in with the two-year-old startup’s plan to grow beyond Silicon Valley and Serbia, and enable large scale deployment of machine learning.
“We are very excited to start our design centre in India. We have already attracted some of the best minds to lead our efforts in both hardware and software. We plan to scale our team for machine learning and all aspects of our overall solution. India is rich in the talent pool and capabilities, and we are looking for the best innovators to come join us in our journey,” said Rangasayee, founder and CEO, SiMa.ai.
Analytics India Magazine caught up with Rangasaye to understand what makes SiMa tick.
The embedded edge is a $1 trillion+ market. However, the technology is decades old and is long overdue for an overhaul to accommodate today’s computing capabilities needs while managing performance, cost, and power. SiMa brings years of experience in machine learning to scale the adoption of ML at the edge to help customers innovate and bring new capabilities to market.
SiMa also enables high performance with low compute power, and has created disruptive ML solutions 30x better than alternatives. It currently works with market leaders in robotics, security, health, and autonomous systems.
Rangasayee said as machine learning scales in both the cloud and the edge, a lot of attention is paid to performance but not enough on power dissipation. “For machine learning to scale in adoption at the edge, it is extremely critical that attention be paid not only to performance but also to power,” he said.
“We are one of the key innovators in delivering high-performance machine learning to the edge at the lowest power possible. We are one of the few companies conscious about power and offer an efficient, sustainable machine learning solution,” he added.
SiMa brings together different backgrounds, and skillsets to build a highly complicated program that is primarily software-centric but weaves in deep expertise in ML, silicon, and systems in a purpose-built platform.
Currently, SiMa has 60+ innovators across California, Eastern Europe and India.
See Full Story at Link.
Source: AnalyticsIndia Magazine
Software producers Microsoft and Oracle will form a partnership to make cloud services more accessible in Poland, the companies have said.
The partnership is an extension of a 2019 agreement between the two firms on close collaboration on an integrated cloud platform for Polish customers.
The cloud technical alliance will allow the use of cross-cloud solutions across Microsoft Azure and Oracle Cloud by Polish enterprises, financial institutions and public entities at a single point of service, according to a press release from Microsoft.
This enhanced collaboration will reduce integration costs for customers and eliminate any disruption caused by a migration to the cloud, the statement added.
Polish customers will be able to combine cloud services such as analytics or artificial intelligence available under Oracle Cloud and Microsoft Azure with the cloud database services of both vendors, in particular - with the Oracle Autonomous Database.
The CEO of Oracle Polska, Tomasz Bochenek, quoted in the press release, said that the Polish market "is becoming increasingly mature and after a rather long phase of careful approach to cloud technologies, it has recently started to clearly catch up."
In May 2020, Microsoft signed an agreement with Poland's National Cloud Operator, thanks to which a regional technology hub will be created in Poland, the company's first data processing region in Central and Eastern Europe. The investment is to be worth USD 1 billion.
According to the CEO of the Polish branch of Microsoft, Mark Loughran, the development of a Polish Digital Valley will help Poland’s economy and strengthen the country’s economic resilience by providing intelligent cloud solutions, big data processing power and compliance with regulations.
Altimetrik, a leading digital business enablement company, today announced the opening of a new office in Wrocław, Poland to meet customer demand and support expansion in Europe.
“Establishing this kind of presence as a technology hub in Poland was a strategic decision that will service our growing client needs,” says Raj Sundaresan, Altimetrik’s CEO. “Our emphasis on digital business, innovation, product and data engineering are a perfect match for the strong Polish technology sector and its proximity to both established talent pools and centers of business.”
Indeed, Poland’s technology market has proven to grow at a stable rate of 5-10% annually. Poland is also a top nearshoring destination with some 15,000 new software engineers graduating every year. That includes some of the brightest in the world, with Poland ranking No. 3 globally, according to Top Coder.
This should give Altimetrik the human capital needed to grow a significant DevSecOps practice as the market becomes less reactive and more security-focused in earlier stages of app development. There is opportunity for Altimetrik to develop tailored solutions that support end-to-end implementation and client education on threats and mitigations.
“We maintain Altimetrik’s incredibly high bar for recruitment requirements,” says Jarek Wawro, Altimetrik’s Head of Engineering and Poland Technology Center. “We are seeing substantial interest from our U.S.-based clients in expanding operations to Eastern Europe. Our Poland team is able to help them better tackle challenges with EU compliance, security, business, IP, copyright, and all other aspects required to ensure business success. This important work should help lay the foundation to attract new clientele native to the region.”
Altimetrik’s Wrocław office employs 60 and looks to expand the company’s focus into Data Science and Machine Learning, as Poland’s talent market is mature and nimble enough to meet the increasing need for data analytics and inference. There is ample experience in mature technologies and frameworks, as well as in data-specific solutions and niche languages that can provide new opportunities for customers.
Ukraine is about to experience its first major gambling and gaming exhibition in over 10 years – Ukrainian Gaming Week 2021 (UGW 2021). The large-scale event, which signals the revival of the country’s gambling industry, will take place on 24-25 March this year.
UGW 2021 has attracted widespread interest from international industry leaders since its initial announcement last year. The event will showcase both Ukrainian and international gaming companies as well as innovative solutions to aid in the rebuilding, development and scaling of the country’s gambling industry.
The exhibition aims to help with the revival of the country’s gambling industry. The Ukrainian Government placed a blanket ban on gambling in 2009 following a tragic gambling hall fire that took the lives of nine people. The ban was overturned in August 2020 in a landslide 248-95 vote from the Ukrainian Parliament.
UGW 2021 will be hosted by KyivExpoPlaza – a 6,000 sq.m exhibition centre in the immediate outskirts of the Capital City of Kyiv. All organization will be handled by Smile-Expo, an internationally established event organizer that has been operating around the globe for over 15 years.
Exhibitors include players from across the industry, such as equipment manufacturers, software and game developers, furniture suppliers, platform providers and many more players necessary for functioning gambling industry. Almost all exhibition stands have been reserved, so expect some surprise participants. Here is a non-exhaustive list of participants:
No event of this calibre can exist without big-name sponsors to help realize its lofty ambitions:
The company, which develops software to protect advertisers from online scammers, has raised money from the European Bank of Reconstruction and Development and three investment funds, TMT Investments, OTB Ventures and Speedinvest.
Scalarr’s software helps mobile application developers to detect fake ads created to siphon off their money. To fight online fraud, the company uses artificial intelligence.
Globally, ad fraud is a growing problem because scammers are coming up with new ways to make money on fake ads. For example, they can hide online ads under others. Users only see the ad at the top, but when they click, they click on two or more. Advertisers have to pay the fraudsters for each additional click that has no human behind it. Fraudsters also can use bots to generate fake clicks.
The startup has worked with big names like international online retailer Joom, Russia’s largest tech firm Yandex and game developer Goodgame Studios. According to Ushakova, the startup saved its clients nearly $22 million in 2020 by detecting fraudulent ads before the advertiser paid for the clicks.
Ushakova said Scalarr’s rivals use a less effective approach — they try to detect fraud by looking for a list of suspicious activities. Although such lists are constantly updating, it’s hard to keep up with the fraudsters, according to Ushakova. She said only machine learning could keep track of always changing tricks and help accurately detect fake ads.
According to Ushakova, fraud is evolving all the time. “It’s like a Tom and Jerry game. They are ahead of you and we are trying to catch them,” she said.
Investors seem to be happy to work with the Ukrainian startup. “Inna (Ushakova) is a great founder. I admire how passionate she is about the company and its existing and upcoming products,” Alexander Pak, investment director at TMT Investments, told the Kyiv Post. Pak said that Scalarr’s tech is important because it saves money for advertisers and app developers.
Ushakova founded Scalarr with her partner Yuriy Yashunin in 2016. Before that, they directed mobile marketing agency Zenna where they first realized how dangerous fraudulent ads could be. Zenna’s team couldn’t find a satisfactory service to fight ad fraud so they decided to build their own tech. Now the company employs 35 people and has offices in Kyiv, Kharkiv, San-Francisco and Wilmington.
Augmented Pixels, a tech startup with Ukrainian roots, has received $2 million in investment, bringing its total funding to $7 million, according to the company’s founder and CEO Vitaliy Goncharuk.
The startup, which develops virtual and augmented reality software, received money from both new and existing investors, whom the company hasn’t disclosed.
In the past, the startup raised the money from Investment Capital Ukraine, Aventures Capital, 408 Ventures, Steltec Capital, The Hive, and T. Ravi among other investors.
The company plans to expand its team in the United States, where it’s based, and to further develop its navigation software. The company works on enabling robots to navigate in space on their own without GPS, and on 3D mapping, a technology used to turn real objects into their three-dimensional virtual representations — these can be buildings, small indoor objects, theatrical stages and others.
The technologies developed by the company promise to “significantly reduce the cost of operations in logistics, facility management and other markets,” Goncharuk said in the company’s statement on Feb. 1.
Goncharuk founded the company in 2010 in Ukraine’s southern city Odesa. Since then, the startup has been working with electronics giants LG, Intel and Qualcomm, as well as other companies.
The company’s headquarters moved to Palo Alto, California, in 2014, but two of its development offices remain in Ukraine, where it employs up to 80 people.
In 2016, Augmented Pixels was acknowledged as one of the largest contributors to computer vision — a field of science focused on how computers can gain high-level understanding from digital images or video — along with giants like Apple, Google, Microsoft and Sony.
Wirtek has entered into a comprehensive non-binding agreement (Letter of Intent) to acquire a profitable, growth-oriented software company providing outsourcing services that complement and further build-out Wirtek's service offerings.
The expected acquisition is closely aligned with Wirtek's newly published Accelerate25 strategy and will further expand Wirtek's access to international clients, international sales channels, and will add approximately 40 new colleagues to Wirtek.
The acquisition, when and if completed, will have a substantial positive effect on both revenue and EBITDA for Wirtek during the financial year 2021 and in the entire Accelerate25 strategy period.
The final closing of the acquisition is planned for beginning of April 2021 and is conditional upon a satisfactory due-diligence result.
Cash and share-based payment
Payment for the acquisition will be given partly in cash and partly in Wirtek shares. A significant part of the share-based payment will be directly linked to the financial results of the acquired software company over the next years.
Wirtek has as an integral part of the acquisition entered into conditional agreements to purchase existing Wirtek shares to cover up to 100% of the shares needed for the share-based payment. These conditional agreements have been entered into with the Board of Directors, who are willing to support the completion of the transaction.
The pricing of the shares used in all the agreements has been calculated based on the current pricing of Wirtek shares on the Nasdaq First North Growth Market.
Further details about the acquisition will be published after the final closing. Wirtek is a Danish IT outsourcing company.
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