Archive: May 10, 2022

Hyderabad to be the host for the south India’s biggest Industrial Exhibition- ‘INDOMACH’

Hyderabad, May 2022…..South India’s biggest B2B (Business to Business) Industrial and Machinery Expo will be held at Hitex from 13th to 15th May for 3 days. It is regarded as one of the biggest expo on Industrial Machinery and Engineering products post pandemic.

The Exhibition is organised by IndoMach Business Solutions and it is supported by Powertex Power Tools, Hyderabad. The Exhibition is a Showcase of Engineering Products and Services, Heavy and light Machines, Machinery Equipments and accessories, Tools and Part Technological Devices, Products, Engineering Tools and allied Products & Services.

More than 150 exhibitors from across India and few select countries will participate in the expo. Some of the exhibitors include: Powertex Power Tools, Koike India, Yuri Power tools, Eastman Cast and Forge, Roots Multiclean, Bhavya Machine Tools, Universal Water Chemicals, Saimona Compressor, Gurudutta cnc, Nisha Engg, De Neers Tools, Eibenstock, Taparia Tools., Bosch Power Tools, Ashlok Earthing, Aditya Robotics, Trucut, Eltek Motors, NBE Motors and many more.

Powertex Power Tools is a Hyderabad based company known as one of India’s power tools Suppliers. Its focus is “do-it-yourself” tools. Its main distribution center at Hyderabad also features India’s largest Hand Tools & Power tools parts department with over 10,0000 parts in stock at all times!

KOIKE is an acknowledged Leader in the manufacture of machine tools that use ‘Gas Energy’. It has pioneered the development of ‘Plasma’ and ‘Laser’ Cutting Machines and commercialized State of the Art automated systems using CNC controls that kept pace with the latest market needs.

500 delegates and 20,000 business visitors are expected to participate in the same.

Advancements in hardware and software are changing the machine tool industry. Industry trends in the coming years are likely to focus on advancements, especially as they pertain to automation. The machine tool industry is expected to see advancements in: Inclusion of smart features and networks; Automated and IoT-ready machines, Artificial intelligence (AI); CNC software advancements

Smart machine tools and robotics will likely handle a greater percentage of the work in industrial settings as technology advances. Especially in those situations where the work is too dangerous for human beings to perform, automated machine tools will become more widely used.

India occupies 10th position in global machine tools production. Its share in global production is about 0.9 percent, informs IndoMach in a press note issued in the city today. The machine tools market in India is poised to grow by $1.9 billion by 2020-24, progressing at a CAGR of nearly 13 percent during the forecast period. India is set to become a key player in the global machine tools industry and is expected to see substantial increase in high-end machine tools manufacturing.

Tesla accounts for almost 60% of all EVs deliveries by 10 leading car makers in Q1, 2022

Tesla is showing its resilience in the electric vehicle market by sustaining the number of deliveries during a period the general market has been affected by parts shortage and challenging economic conditions. However, the American EV giant is also facing significant competition from traditional manufacturers who are venturing into the EV market as part of holding their market position.

Data acquired and calculated by Finbold indicates that among leading EV manufacturers, Tesla delivered 310,048 vehicles for all models during Q1 2022. With the deliveries, Tesla accounted for 57% of the 539,863 all-electric vehicles delivered by ten leading car makers.

Volkswagen ranked second with 99,100 deliveries, followed by BMW at 35,289 units. China’s Xpeng ranked fourth with 34,561units, while Li Auto closed the top five category at 31,716 units.

Other manufacturers with significant deliveries included Nio (25,768), Rivian (2,553), General Motors (457), Lucid Motors (360) and Nikola (11).

Impact of semiconductor shortage on Tesla 

Although Tesla is dominating the EV market, the company has been forced to adjust its goal to introduce more models, but it remains on course to increase sales. According to the research report:

“Despite the record deliveries, Tesla remains uncertain about the future, with CEO Elon Musk noting that the chip shortage might bar the company from introducing new models in 2022. However, the Q1 results offer a glimpse of the company’s projected to grow annual deliveries by 50%.” 

Tesla will be banking on ramping up production through new factories alongside market demand for its products.

The demand for EVs is being fuelled by factors like soaring fuel prices and the entrance of more manufacturers into the space. However, the high cost of various EV models might reduce the sector’s market growth.

Nazara Technologies engages SGAPR for Public Relations Consulting Services

Mumbai, 10 May 2022: SGA Growth Advisors (SGA), a leading value-driven and value-led consultancy business has won the Public Relations & Social Media, mandate for Nazara Technologies. Nazara Technologies is one of India’s most prominent gaming and sports media platforms, they have a presence in emerging global markets with offerings in interactive gaming, eSports, and gamified early learning ecosystems. Through strategic communications and ideation, SGA aims to integrate its public relations, investor relations, and social media communications.

As part of the mandate, SGA will manage Nazara Technologies’ overall communications strategy with all key stakeholders through multiple channels of investors, analysts, media, influencers, gaming industry stakeholders, and public at large. This mandate serves to add a holistic value to Nazara’s business strategy and boost its share of voice in the gaming space. SGA will leverage its insight-driven communications strategies to leverage Nazara’s rising digital footfall by building an integrated social and digital media framework.

Commenting on this collaboration, Manish Agarwal, CEO of Nazara Technologies said, “We have an existing relationship with SGA for our investor relations and annual report consulting. The teams at SGA work very closely with us to translate our thoughts into building narratives. They also are young and agile, similar to our thought process, and add new insights and perspective to the strategy. We have extended our partnership with SGA for PR and Social Media with an aim to have a common communication strategy across spectrums. Looking forward to working with the team.”

Speaking about the PR mandate win, Kevin Shah, Founder of Strategic Growth Advisors (SGA), said, “We are delighted to have Nazara Technologies on board for PR & Social Media. It is a testimony to our vision of offering complete communications solution to a company under one umbrella. Nazara Technologies is a young unicorn and it is exciting to work in the new emerging spaces of technology and gaming. We believe, going forward having a single partner integrated throughout all aspects of communications will be an efficient solution for companies. We are committed to offer the best in quality services across practices.” 

Cogniteam Raises $5.6 Million in Series A to Enhance Nimbus, the Low-Code AI Robotics Platform

Cogniteam boosts collaborative robotic development capabilities, helping companies bring new robotic programs to market in a fraction of the time. “Our low-code approach to robotics development is changing the programming landscape,” said Dr. Yehuda Elmaliach, Co-Founder & CEO of Cogniteam.

Tel Aviv, Israel, May 10th, 2022- Cogniteam, a robotics development company that recently launched the Nimbus robotics AI operating platform, announced the closing of a $5.6 million in series A. The round of funding comprised the previous investors of Seabarn Management, (Andrew Owens) and UK-based Panthera family office members. This round enables Cogniteam to boost product development and Nimbus sales further as the robotics revolution continues to show both consumer and commercial demand.

Developing a modern robotics system is traditionally a time-consuming process where software engineers yield their development to hardware engineers until they complete the build-out of physical systems needed to meet project specifications. This requires the full robotics concept to deployment process to take up to 6 years. During this time, technological development moves forward, making hardware, software, and control systems obsolete by the time new robots are deployed commercially.

“We reimagined what is possible to accelerate and future-proof robotic development with the Nimbus platform,” said Dr. Yehuda Elmaliach, Co-Founder & CEO of Cogniteam. “Nimbus’ low-code approach is changing the programming landscape by offering a simulated environment where software developers can thoroughly test their capabilities before the prototype physical robot build-out has been completed.”

Alongside this virtual testing environment, developers can select pre-built software packages from the popular ROS operating system, NVIDIA’s ISAAC SDK GEMs toolset, and field-tested algorithms that were developed in-house by Cogniteam. Once mobilized, Nimbus-operated robots are kept up to date throughout their life with the latest software developments and AI learnings through regular Cloud updates and lesson sharing.

These funds will enable Cogniteam to expand sales and support teams to onboard more companies who want to enable their robots with field-tested features. “We seized the opportunity to increase our investment in Cogniteam following the successful launch of Nimbus and the team’s demonstrated ability to surpass critical milestones,” said lead investor Andrew Owens. Cogniteam’s proven capabilities have generated exciting demand from the market, which the investors are excited to facilitate.”

In addition to the new round, Cogniteam has been handpicked to co-lead a $20 million Human-Robot Interaction (HRI) consortium, funded by the Israeli Innovation Authority. Together with other leading Israeli private and academic institutions, they are working on verbal and non-verbal communication gestures that robots can use to engage with society as they execute tasks.

In line with their mission of easy adoption of advanced capabilities, Cogniteam will open the consortium’s capabilities to their Nimbus platform for companies to utilize.

87% of Declined Digital Goods, Crypto, and Fintech Purchases Are Not Fraudulent According to nSure.ai’s Latest Data

The latest Q1 data show that legacy anti-fraud systems are easily triggered, with only 13% of declined transactions as truly fraudulent. This alarming number is concerning, considering that 65% of declined transactions are triggered, by-first time customers.

Tel Aviv, Israel, May 10, 2022 – nSure.ai, the world’s first digital-goods-focused fully automated chargeback guarantee platform, announced new findings regarding online-retailer credit card processor behaviors and anti-fraud applications. Their analysts discovered that 87% of all declined transactions across gaming, gift cards, crypto, fintech, prepaid, and other industries were not fraudulent in nature.

The growing digital goods market space is expected to reach $5.4tn this year, partially due to the rise of crypto trading, online gaming, NFTs, digital gift cards, and other instantly redeemable purchases. This creates a challenge for sellers who are unable to retract or void a sale if fraud is discovered even seconds after the transaction is completed. Once the value is transferred to a digital good, it can be redeemed anonymously on varying platforms, such as eBay or cryptocurrency exchanges.

To address this problem, nSure.ai offers a chargeback guarantee by relying on a system developed in-house to identify fraudulent actors based on various cross-web behaviors, successfully reducing decline rates by 66% and approving 95% of transactions. This is in comparison to the staggering industry standard of declining 15%-20% of transactions. “Seeing such a high decline rate of legitimate transactions makes it near-impossible for businesses to scale, especially with its imbalanced impact on new customers,” said Alex Zeltcer, Co-founder & CEO of nSure.ai. “Payment fraud detection systems that are designed to protect the sale of digital goods are easily triggered since they were developed based on an outdated e-commerce goods framework. This new realm of digital goods is being held back by outdated security practices.”

nSure.ai’s analysts identified patterns that indicate online fraud detection is not spread evenly across industries. “E-gaming loses 12.8% of transactions while gift card purchases are declined 19.5% of the time. Even higher is the prepaid debit card sector, which declines just below 23% of all transactions,” said Noa Ehrenhalt, Data Analyst at nSure.ai. This means that retailers are leaving millions of dollars on the table, being forced by legacy anti-fraud platforms to either reject the purchase request or risk a chargeback where they must pay back the full transaction to the credit card issuer without any recourse.

A further consideration for online sellers is the lifetime value and negative sentiment that a customer takes with them once falsely declined. The feeling of being denied a platform increases the likelihood of going elsewhere with hesitation to return in the future.

St. Louis Area Diaper Bank Hosts Fill the Cove Fundraiser

Period supply drive and fundraiser to kick off Period Poverty Awareness Week

(St. Louis, Mo., May 9, 2022) — The St. Louis Area Diaper Bank will host its first Fill the Cove fundraiser on Sat., May 21 from 10 a.m. to 2 p.m. at its headquarters located at 6141 Etzel Ave. The event kicks off Period Poverty Awareness Week held May 23 to 29.

The Diaper Bank is asking the community to host a period supply drive or raise funds to support the nonprofit. Fill the Cove participation opportunities include hosting a physical period supply drive and bringing donations to the Diaper Bank on May 21; hosting an Amazon online virtual drive where period supplies can be sent directly to the Diaper Bank; and collecting monetary donations so that, for every $1 donated, the Diaper Bank can directly purchase five period supplies for those in need.

The Diaper Bank’s period supply program collaborates with the Alliance for Period Supplies to ensure access to menstrual hygiene products. The program distributes supplies through community partners, as well as advocates for the elimination of “period poverty.” To date more than 450,000 period supplies have been distributed in St. Louis, with 10,800 period supplies allocated each week. Last year two-thirds of low-income women in St. Louis could not afford menstrual hygiene products, with 46% of low-income women having to choose between food and period supplies.

The St. Louis Area Diaper Bank collects, stores, and distributes 250,000 free diapers per month to struggling families through a network of 56 community, nonprofit, educational and health care partners serving low-income women and children. To date more than eight million diapers have been distributed in St. Louis including nearly 900,000 diapers during the height of the pandemic.

Founded in 2014, the St. Louis Area Diaper Bank provides diaper access to the region’s low-income families, as well as raises community awareness about the causes and consequences of diaper need. The nonprofit is a member of the National Diaper Bank Network, a nationwide nonprofit dedicated to eliminating diaper need and “period poverty” in America. The St. Louis Alliance for Period Supplies (STL APS) – a program created in 2019 by the diaper bank – ensures access to menstrual hygiene products, which allows full participation in daily life with dignity. For more information about the Diaper Bank, call (314) 624-0888 or visit their website.