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Chryscapital-backed Xoriant acquires Thoucentric

Xoriant, a digital engineering services company backed by ChrysCapital—a private equity firm, said that it has acquired consulting firm Thoucentric.

Thoucentric, a Bengaluru-headquartered specialised consulting firm, focuses on solving business problems using digital solutions in the supply chain, sales and distribution, and finance domains.

Xoriant, which is headquartered in Sunnyvale, California, provides services and solutions focused on digital product engineering, cloud infrastructure and operations, security, data engineering/management and analytics. It has Fortune 100 customers worldwide.

Through this strategic acquisition, Xoriant aims to enhance its services by incorporating consulting into its portfolio. Xoriant’s proficiencies in AI and data, cloud, security, and operational services coupled with Thoucentric’s expertise in domain knowledge and digital consulting will help clients efficiently realise their digital transformation goals, according to the company’s statement.

Xoriant currently has a workforce of 5,000 employees and this acquisition will result in a 10% increase in staff.

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ChrysCapital acquires software engineering and digital services player Xoriant

BharatPe launches BharatPe Swipe Android machine for merchants

BharatPe, on Friday, launched its new Android Point of Sale (POS) terminal. Known as BharatPe Swipe Android, the device offers multiple modes for digital payment acceptance, including debit/credit cards, UPI, mobile wallets, and QR code.

The company, which launched Linux-based POS devices in the year 2020, already has a network of over two lakh POS machines across 400 cities in the country. BharatPe will give its merchants an option to upgrade from the Linux-based POS to the new Android POS device.

Additionally, it plans to double its POS network count over the next 12 months, with the launch of BharatPe Swipe Android.

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BharatPe Group appoints former Razorpay SVP as CTO

Startups have created over 10.34 lakh direct jobs: Piyush Goyal

As on April 30, more than 10.34 lakh direct jobs have been created by over 98,000 recognised startups in the country. In a reply in the Lok Sabha, Union Commerce and Industry Minister Piyush Goyal said there has not been a slowdown in the growth of startups in the country, and that the government has been implementing various initiatives under the Startup India initiative launched on January 16, 2016.

The number of recognised startups has increased from 428 in 2016 to 98,119 as of April 30, 2023.

Goyal told Lok Sabha that the government implements annual exercises and programs including States’ Startup Ranking, National Startup Awards and Innovation Week which play an important role in the holistic development of the startup ecosystem. 

(The copy will be updated with the latest news throughout the day.)