D.E. Shaw expands India operations with two new offices

D. E. Shaw India expands to Bengaluru, Gurugram

Global investment and technology development firm D. E. Shaw Group is opening new offices in India in Bengaluru and Gurugram.

These offices have opened with more than 300 employees combined, while a majority of D. E. Shaw India staff continue to operate from its office in Hyderabad. The new locations will allow the company to engage with talent more broadly across India and support its needs for high-potential technology and finance professionals.

“Our talented colleagues in India have helped the firm innovate for more than 25 years,” said Eddie Fishman, a member of the D. E. Shaw Group’s Executive Committee. “In addition to our presence in Hyderabad, we’re pleased to join the communities of Bengaluru and Gurugram to attract a growing number of impressive people.”

Citi India completes first blockchain-enabled LC for Cummins

Citi India has successfully completed its first blockchain-enabled Letter of Credit (LC) transaction for Cummins India Limited (Cummins) using Contour—a global digital trade network powered by blockchain.

This marks the first domestic end-to-end blockchain-enabled LC transaction completed on Contour in India. The transaction is part of Citi India’s efforts at trade digitisation.

The use of blockchain technology has enabled the LC processing time to be reduced by as much as 90%. In this case, the LC document presentation, which usually takes 5-10 days, was completed in just three hours on Contour.

Contour allows multiple parties such as banks, corporates, and logistic partners to collaborate seamlessly and securely in real-time on a single platform. Citi is one of the founding member banks of Contour.

Ajay Patil, VP and CFO of Cummins, said, “We are a technology-driven company, and our key priority is to digitise our processes. We are happy that Contour and Citi worked with us to launch the first blockchain-enabled LC transaction in India. We believe that by digitising our processes, we are able to drive efficiency across the value chain and is a win-win solution for stakeholders.”

Qualcomm unveils new IoT solutions

Qualcomm Technologies has announced new IoT solutions to enable the advancement of next-generation IoT devices: Qualcomm® QCS8550, Qualcomm® QCM8550, Qualcomm® QCS4490, and Qualcomm® QCM4490 Processors.

According to Qualcomm, the new and upgraded solutions offer a breadth of capabilities, advanced features, and versatility aimed to meet the needs of demanding industrial and commercial IoT applications. New use cases across the solutions support further expansion of the IoT ecosystems across key segments, including video collaboration, cloud gaming, retail, and more.

Dev Singh, Vice President- Business Development, and Head of Building, Enterprise and Industrial Automation, Qualcomm Technologies, said, “Our new solutions bring together the industry’s leading technologies across edge AI processing, innovative power efficiency, crystal-clear video, 5G connectivity, and more to fuel the next generation of resilient, high-performing IoT applications.”

Trellix appoints Ash Parikh as CMO

Cybersecurity firm Trellix has appointed Ash Parikh in the role of Chief Marketing Officer (CMO), where he will lead global marketing teams to drive brand awareness, demand generation, and go-to-market strategies.

Most recently, Ash Parikh served as the CMO of SaaS startup Druva. Earlier, he spent over a decade leading the marketing organisation in various roles at Informatica. He is a member of the board of advisors for Yellowbrick Data and the CMO Council.

Commenting on the appointment, Trellix CEO Bryan Palma said, “Ash’s unique experience at the intersection of SaaS, cybersecurity, and data management perfectly positions him for amplifying Trellix’s XDR leadership and ensuring our value proposition is accessible to millions of customers.”