Finbots.AI Raises USD 3 Million from Accel in Series A Round

SINGAPORE, April 28, 2022 /PRNewswire/ — Finbots.AI, an AI-envisioned firm bringing innovation to banks and financial institutions, today announced it has raised USD 3 million in a Series A round from Accel. This investment is from Accel’s Fund VII, and is the first external investment for Finbots.AI. The funds will be used towards accelerating product enhancement, marketing and sales, and customer support besides recruiting of senior talent and team expansion across its offices. India drives all of the global development and support for Finbots.AI, with its corporate headquarters in Singapore and a regional head office in Dubai.

Commenting on the successful Series A fundraise, Sanjay Uppal, Founder and CEO of Finbots.AI, said, “This new funding unlocks the next phase of growth for Finbots.AI. Financial institutions today need pathbreaking solutions to solve their complex challenges brought by legacy platforms. Tapping on AI-enabled solutions can help them transform exponentially. We are thrilled to have Accel as a partner in this journey, further cementing the potential and trust in our solution. Accel’s impressive track record with growth stage companies will be a key support for Finbots.AI. We have an enormous growth potential and I am excited for our journey to transforming financial services.”

Since its inception in 2017, Finbots.AI identified an opportunity to use AI-powered solutions to aid banks and financial institutions to overcome industry challenges. ZScore is a full-scale AI-driven credit scorecard system for lending institutions that spans the entire credit lifecycle. Equipped with an intuitive user interface and robust scorecard development capabilities, ZScore rapidly develops higher accuracy credit scorecards by using advanced Machine Learning algorithms that utilise historical traditional and alternate data to automatically build, validate, and deploy real-time, high-performing risk models.

Mahendran Balachandran, Partner at Accel, shared, “The Finbots.AI team brings decades of collective experience in financial services and technology, and we see great potential and promise in their solution – ZScore – as it strives to remedy and bridge the limitations of legacy credit systems. We, at Accel, are delighted to be a part of Finbot.AI’s growth as they propel forward to enhance financial services by leveraging AI technology to serve the entire community – ranging from the large banks to the small lenders. We see massive potential in this region and FinTech as a vertical.”

DREAM11 S’APPUIE SUR LES DONNÉES DE VOLT ACTIVE DATA POUR ENGAGER 130 MILLIONS D’UTILISATEURS DANS L’IPL 2022

La plus grande plateforme de sports de fantaisie au monde a annoncé l’expansion récente de son partenariat avec Volt Active Data sur la lancée d’un succès mesurable.

BEDFORD, Massachusetts, 28 avril 2022 /PRNewswire/ — Volt Active Data, la seule plateforme de données d’entreprise conçue pour répondre aux exigences en temps réel des sociétés de jeux de grande envergure et des sociétés de technologie à fortes transactions actuelles, a annoncé aujourd’hui que Dream11, la plus grande plateforme de sports fictifs du monde, a étendu son contrat avec Volt.

Volt Active Data Logo

Dream11 compte plus de 130 millions d’utilisateurs actifs et est déjà prête à gérer en production plus de 10 millions d’utilisateurs simultanés aux heures de pointe. Dream11 a initialement commencé avec Volt lors de la saison 2018 de l’IPL, et après avoir constaté le succès de la technologie (en partie grâce à la faible latence, au débit élevé et à l’assurance de disponibilité que fournit la plateforme Volt), elle a décidé d’approfondir sa relation avec Volt et d’élargir son utilisation de la plateforme Volt Active Data.

« C’est une situation gagnant-gagnant pour Dream11 et Volt », a déclaré David Flower, PDG de Volt Active Data. « L’expansion représente non seulement une autre validation de la plateforme Volt Active Data en tant que leader de la technologie des données en temps réel, mais elle change également la donne pour Dream11, car cela va essentiellement assurer l’avenir de leur plateforme pour la croissance explosive qu’ils connaissent et continueront de connaître ».

Volt fournit la précision, la fiabilité et les performances exigées par les millions de fans de sport qui cherchent à participer à des concours fantaisistes pendant l’IPL. Que ce soit entre amis ou parmi un million d’autres fans en compétition pour montrer leurs compétences et leurs connaissances du cricket, la faible latence de Volt, même en cas d’énormes pics de trafic (juste après le lancement du jeu), permet à Dream11 d’offrir la meilleure expérience de fantaisie aux fans et de devenir le choix numéro un en Inde pour les sports de fantaisie.

« La saison 2022 de l’IPL promettant d’établir de nouveaux records dans tous les domaines, nous savions que c’était le moment idéal pour intensifier notre relation stratégique avec l’équipe de Volt Active Data », a déclaré Amit Sharma, directeur technique de Dream11. « Chez Dream11, une excellente expérience utilisateur, une approche axée sur les données et une technologie de pointe sont toujours au cœur de nos préoccupations. Le défi du modèle de données auquel nous sommes confrontés pendant l’IPL est très nuancé et Volt est la seule plateforme que nous avons trouvée qui peut nous aider à surmonter ces défis techniques ».

À propos de Volt Active Data

Volt Active Data permet aux applications d’entreprise d’ingérer, de traiter et d’agir sur les données en quelques millisecondes pour exploiter de nouvelles sources de revenus et prévenir les pertes de revenus. Avec des clients de premier plan dans les télécommunications, la finance, les jeux et bien d’autres secteurs verticaux, la plateforme Volt est positionnée de manière unique pour être la technologie de référence de toute entreprise cherchant à tirer pleinement parti de la 5G, de l’IoT et de tout ce qui suivra. En savoir plus sur voltactivedata.com.

Logo – https://mma.prnewswire.com/media/1805076/Volt_Active_Data_Logo.jpg

Vaccine-Preventable Diseases Surging in Africa Due to COVID-19 Disruptions

The World Health Organization warns that vaccine-preventable diseases are spreading across the African continent because routine immunizations against killer diseases have been disrupted by the COVID-19 pandemic.

Tens of millions of people have missed out on routine immunization services. That not only puts their lives at risk from potentially deadly diseases but creates an environment in which killer diseases can thrive and spread.

Benido Impouma, director for communicable and noncommunicable diseases in the World Health Organization’s regional office for Africa, said the pandemic has put a huge strain on health systems. It has impaired routine immunization services in many African countries and forced the suspension of vaccination drives.

Over the past year, he said, outbreaks of vaccine-preventable diseases have increased across the continent.

“For instance, between January and March of this year, around 17,000 cases of measles were recorded. This is a 400 percent increase compared with the same period last year,” Impouma said. “Twenty-four countries in our region confirmed outbreaks of a variant of polio last year, which is four times more than in 2020.”

He noted that outbreaks of other vaccine-preventable diseases, such as yellow fever, also are surging.

The World Health Organization and UNICEF recently issued a report warning of a heightened risk of vaccine-preventable diseases. They attribute it in large part to increasing inequalities in access to vaccines due to pandemic-related disruptions.

They expressed particular concern about a worldwide spike in measles cases, which have increased by 79 percent in the first two months of this year. They noted that most cases were reported in Africa and in eastern Mediterranean regions.

WHO is working to improve immunization coverage and protection for children, Impouma said, adding that WHO and its partners are supporting African countries to carry out catch-up routine vaccination campaigns.

“More than 30 African countries implemented at least one routine catch-up immunization campaign in the second half of last year,” he said. “And this year, countries are showing progress, with measles and yellow fever campaigns starting again. Central African Republic, Chad, Equatorial Guinea, Ethiopia, Nigeria, Somalia and South Sudan have reinstated measles campaigns, which is good news.”

However, COVID-19 news is not as promising. WHO said that this week new COVID-19 cases and deaths on the continent have increased for the first time after a decline of more than two months for cases and one month for deaths.

The latest recorded figures put the number of cases at 11.6 million, including nearly 253,000 deaths.

Source: Voice of America

Moderna Seeks to Be First With COVID Shots for Littlest Kids

Moderna said two kid doses were about 40% to 50% effective at preventing symptomatic COVID-19, not a home run, but for many parents, any protection would be better than none.

That effectiveness is “less than optimal. We were hoping for better efficacy, but this is a first step,” said Dr. Nimmi Rajagopal of Cook County Health in Chicago. She’s anxiously awaiting vaccinations for her youngest patients and her own 3-year-old son, who’s ready to enter preschool.

“It gives me such peace of mind to know that hopefully by fall I’ll get him in school and he’ll be fully vaccinated,” she said.

Now, only children age 5 or older can be vaccinated in the U.S., using rival Pfizer’s vaccine, leaving 18 million younger tots unprotected.

Moderna’s vaccine isn’t the only one in the race. Pfizer is soon expected to announce whether three of its even smaller-dose shots work for the littlest kids, months after the disappointing discovery that two doses weren’t quite strong enough.

Evaluation process

Whether it’s one company’s shots or both, FDA vaccine chief Dr. Peter Marks said the agency will “move quickly without sacrificing our standards” in deciding if tot-sized doses are safe and effective.

While questions are swirling about what’s taking so long, Marks pointedly told lawmakers earlier this week that the FDA can’t evaluate a product until a manufacturer completes its application. In a statement Thursday, the FDA said that it would schedule a meeting to publicly debate Moderna’s evidence with its independent scientific advisers, but that the company still must submit some additional data. Moderna expects to do so next week.

“It’s critically important that we have the proper evaluation so that parents will have trust in any vaccines that we authorize,” Marks told a Senate committee.

If the FDA clears vaccinations for the littlest, the Centers for Disease Control and Prevention would next have to recommend who needs them — all tots or just those at higher risk from COVID-19.

“It’s very important to get the youngest children vaccinated,” but “moving quickly doesn’t mean moving sloppily,” said Dr. Philip Landrigan, a pediatrician and public health expert at Boston College. The FDA must “see if it’s safe. They need to see if it’s effective. And they need to do so swiftly. But they won’t cut corners.”

Many parents are desperate for whichever vaccine gets to the scientific finish line first.

“We’ve been kind of left behind as everybody else moves on,” said Meagan Dunphy-Daly, a Duke University marine biologist whose 6-year-old daughter is vaccinated and whose 3-year-old and 18-month-old sons are part of Pfizer’s trial.

The family continues to mask and take other precautions until it’s clear if the boys got real vaccine or dummy shots. If it turns out they weren’t protected in the Pfizer study and Moderna’s shots are cleared first, Dunphy-Daly said she’d seek them for her sons.

“I will feel such a sense of relief when I know my boys are vaccinated and that the risk of them getting a serious infection is so low,” she said.

The FDA will face some complex questions.

In a study of 6,700 kids ages 6 months through 5 years, two Moderna shots — each a quarter of the regular dose — triggered high levels of virus-fighting antibodies, the same amount proven to protect young adults, said Burton of Moderna. There were no serious side effects, and the shots triggered fewer high fevers than other routine vaccinations.

But depending on how researchers measured, the vaccine proved at best about 51% effective at preventing COVID-19 cases in babies and toddlers and about 37% effective in the 2- to 5-year-olds. Burton blamed the omicron variant’s ability to partially evade vaccine immunity, noting that unboosted adults showed similarly less effectiveness against milder omicron infections. While no children became severely ill during the study, he said high antibody levels are a proxy for protection against more serious illness — and the company will test a child booster dose.

“That’s not totally out of the realm of what we would have expected,” said Dr. Bill Muller of Northwestern University, who helped with Moderna’s child studies. “Down the road I would anticipate it’s going to be a three-shot series.”

Another issue: So far in the U.S., Moderna’s vaccine is restricted to adults. Other countries have expanded the shot to kids as young as 6. But while Moderna has filed FDA applications for older kids, too, the FDA hasn’t ruled on them. Months ago, the agency cited concern about a rare side effect, heart inflammation, in teen boys, a concern that hasn’t been reported in much younger children.

It’s not clear if the FDA will consider Moderna’s vaccine for children of all ages now or focus first on the littlest. But Muller already has had lots of parents ask why shots were being tested in tots before older kids were vaccinated — and says pediatricians and pharmacists must be ready with answers.

Burton said safety data from millions of older children given Moderna vaccinations abroad should help reassure parents.

While COVID-19 generally isn’t as dangerous in youngsters as adults, some do become severely ill or even die. About 475 children younger than 5 have died from COVID-19 since the pandemic’s start, according to the CDC, and child hospitalizations soared at omicron’s peak.

Yet it’s not clear how many parents intend to vaccinate the youngest kids. Less than a third of children ages 5 to 11 have had two vaccinations, and 58% of those ages 12 to 17.

Source: Voice of America

Sun King Raises $260 Million, Led by General Atlantic’s BeyondNetZero, to Expand Global Access to Affordable Solar Energy

The solar energy provider, formerly known as Greenlight Planet, plans to use the funds to rapidly and sustainably bring electricity access to more homes across Africa and Asia

NAIROBI, Kenya, April 27, 2022 /PRNewswire/ — Today, Sun King, the largest provider of solar energy products for off-grid homes in Africa and Asia, announced it has raised $260 million in Series D funding, led by BeyondNetZero, the climate investing venture of General Atlantic, a leading global growth equity firm, along with M&G Investments’ Catalyst team and Arch Emerging Markets Partners. Founded in 2007 as Greenlight Planet, the company recently rebranded as Sun King, the name under which its products have long been sold.

Sun King is leading a transformation in how electricity is provided across Africa and Asia, where 1.8 billion people still lack access to a reliable electrical grid. To date, Sun King has powered the lives of 82 million people across 40 countries. The company’s solar home systems power lights, mobile phones, radios, and larger home appliances. Sun King systems are dramatically more affordable and sustainable than kerosene or new power lines, allowing customers to leapfrog electrical grids and fossil-fuel energy sources entirely.

Today, Sun King operates the world’s largest direct-to-consumer, pay-as-you-go (PAYG) solar distribution network, growing at a rate of 150,000 new clients per month across seven countries. In Kenya, one in five people use Sun King today, with 18 million Kenyans having benefited over a decade of operations. In Nigeria, the company’s user base has tripled in the past year alone. While growing rapidly, the company has remained consistently profitable.

Sun King now accounts for 38% of total industry-wide PAYG solar revenue according to the latest data collected by GOGLA, the global association for the off-grid solar energy industry. As a result of Sun King’s growth, the company has eliminated 22 million tons of carbon dioxide emissions while saving consumers $4.4 billion in energy costs.

The $260 million financing includes $100 million in primary investment for Sun King’s continued expansion. Sun King’s founders retain voting control of the board. In addition to the company’s plans for continued geographical expansion, the funds will also be allocated towards product-line expansion, including larger solar systems equipped with AC-electricity inverters (capable of powering larger appliances like refrigerators) and new products such as mobile phones.

“This investment in Sun King marks an incredible inflection point for the global off-grid solar industry,” said T. Patrick Walsh, co-founder, and CEO of Sun King. “Over the last 15 years, we have delivered solar energy and light to over 82 million people, enabling kids to study for school, helping entrepreneurs run small businesses, and allowing families to power their lives, free from the danger and high cost of kerosene lanterns. This landmark investment allows us to continue scaling our technology, service, and financing capabilities so we can meet the needs of the next billion energy consumers.”

“Sun King is leading a global transformation in the way we provide electricity to consumers in Africa and Asia,” said Sun King co-founder Anish Thakkar. “It’s now dramatically more affordable to power a home with a solar system than to extend the electrical grid: for less than the cost of a single electrical pole, we can install an entire solar energy system in-home. This funding will further unlock our ability to scale this revolution to the 1.8 billion people who need these products today, and the next billion who will need them tomorrow.”

“BeyondNetZero is excited to back Sun King, an industry-leading company that offers consumers accessible and affordable solar products, supported by fair and sustainable business practices,” said Eli Aheto, Managing Director on the BeyondNetZero team at General Atlantic. “We look forward to partnering with the company and its leadership as they bring innovative and affordable off-grid solar products to new markets and continue to grow their meaningful contribution to the global net zero transition.”

Ekta Partners acted as lead financial advisor for this transaction. Goodwin Procter LLP provided legal counsel to Sun King, and Freshfields provided legal counsel to BeyondNetZero.

About Sun King
Sun King is the world’s largest off-grid solar energy company, serving the 1.8 billion people across Africa and Asia who lack access to reliable electricity. Through innovative product design, affordable pay-as-you-go financing, and a grassroots field team of 15,000 agents providing installation and service, Sun King has powered the lives of over 82 million people. Founded in 2007 as Greenlight Planet, Sun King sets the gold standard for off-grid solar technology as part of its mission: powering access to brighter lives. For more information, please visit: www.sunking.com.

About BeyondNetZero
BeyondNetZero is the climate investing venture of General Atlantic, a leading global growth equity firm. BeyondNetZero invests in growth companies delivering innovative climate solutions that have the potential to meet and exceed net zero emissions targets, with a focus on decarbonization, energy efficiency, resource conservation and emissions management. This venture combines General Atlantic’s growth equity experience and global network with a team of experienced climate investors, advisors and industry executives who bring decades of experience in both addressing climate-focused problems and building pioneering growth companies. For more information on BeyondNetZero, please visit: https://beyond-net-zero.com.

About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $84 billion in assets under management inclusive of all products as of December 31, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, and Stamford. For more information on General Atlantic, please visit: www.generalatlantic.com.

About M&G Investments
M&G Investments’ Catalyst strategy is investing up to £5 billion into innovative privately-owned global businesses working to create a more sustainable world. For over ninety years M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes, and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure, and real estate. M&G Investments is part of M&G plc, a FTSE-100 listed company with over £370 billion of assets under management (as of 31 December 2021), and customers in the UK, Europe, the Americas, and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

Contact: Jackie Zupsic – jzupsic@tuskstrategies.com

Clearspan Unveils Ping

Clearspan Ping, a portal to personalized communications, provides customizable features, security, privacy and control

DALLAS, Texas, April 27, 2022 (GLOBE NEWSWIRE) — Clearspan on Wednesday unveiled Ping, a customizable communications and collaboration solution that delivers secure voice, video and messaging anywhere, anytime and on any device. Purpose-built to serve the world’s leading service providers and largest organizations, Clearspan Ping is designed to deliver unique user experiences with the security, privacy and control that large organizations require.

Ping is the latest addition to Clearspan’s lineup of scalable communication technologies and serves as a foundational component in its journey to personalized communications.

“At Clearspan, we’re committed to creating solutions that make it easier to create unique user experiences while retaining the security, privacy and controls that large organizations require,” said Bill Crank, Clearspan’s chief executive officer. “For decades, Clearspan has powered ubiquitous unified communications solutions that empower service providers and large organizations. Clearspan Ping is the next generation communications portal that enables personalized communications and will continue to digitally transform today’s modern workforce, no matter where they’re located.”

Ping’s modern user features include point-to-point and multiparty voice, video and messaging; screen and file sharing; team rooms that allow private space for collaboration; PSTN calling; and flexible access options including browser based, desktop, and mobile applications.

Ping sets itself apart with unique features:

  • Brandable: Ping is brandable for both service providers and organizations. There are no cobranding requirements, meaning Ping can truly reflect any organization.
  • Customizable: From easy integration of commonly used applications, such as call center agent control, faxing, and SMS texting, to cross platform messaging and IoT device monitoring, Ping is built to be customized. Additionally, Ping’s deployment model is flexible. Users can choose from Clearspan cloud, public cloud, private cloud, or premise-based hosting.
  • Secure: Ping is 100 percent private with end-to-end session encryption, allowing complete data sovereignty without data mining.

Ping will be available worldwide beginning Sunday, May 1. Ping has already been trialed by some of the United States’ largest universities and global tier one service providers. Interested parties can find more information about Ping and request a demonstration on www.ClearspanCloud.com.

About Clearspan 

Clearspan powers ubiquitous unified communications solutions that help the world’s largest organizations digitally transform the way they work. For over forty years, Clearspan has enabled service providers and large organizations with innovative solutions and operational efficiency at scale. Clearspan’s standards-based architecture uniquely delivers the carrier-grade reliability, scalability and security required – without sacrificing the flexibility to seamlessly integrate both modern and legacy business applications and environments. Learn more at www.ClearspanCloud.com.

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Kayla Ayres
Clearspan
(214) 378-7970
kayres@thepointgroup.com