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SAP Labs India lays off around 300 employees

SAP Labs, the research and development business unit of German technology firm SAP, has laid off around 300 executives in India, said a report by The Economic Times.

These layoffs were majorly in its Bengaluru and Gurugram offices. The report said it was a result of shuttering of a global delivery centre that housed custom development roles to undertake SAP implementation projects. 

Those affected were given severance packages of salaries equal to the number of years of service in the company.

DroneAcharya Aerial Innovations partners with Studio Trika to create  breath-taking experiences in the sky

DroneAcharya Aerial Innovations, an end-to-end data solution provider, on Friday announced it partnered with Studio Trika.

The partnership between DroneAcharya and Studio Trika has the potential to create a new genre  of entertainment by bringing together the cutting-edge technology of drones and the creativity of  art. By leveraging DroneAcharya’s expertise in drone technology and Studio Trika’s artistic  capabilities, the partnership aims to provide unique experiences to its customers.

Happy announces strategic partnership with MOS World to offer easy credit to MSMEs

Happy, a neo-fintech platform, has announced its latest partnership with MOS World, a rural fintech firm. The collaboration’s goal is to extend the credit line to MOS merchants that will be offered through a digital journey. 

Founded in 2016, the company has partnered with multiple merchant aggregators (POS vendors, BC networks, e-commerce platforms and more) to enable their merchants with instant loans. Happy has raised a total of $18 million in funding over two rounds. Their latest funding was raised in 2020 from a debt financing round.

Through this alliance, Happy will extend its reach to MOS World’s merchants across India. This collaboration will assist both companies to achieve growth by catering to the credit needs of India’s under-represented and underserved micro businesses.