Tag Archives: million

Sequoia, Norwest lead $50 million funding in Chennai-based Five Star Finance

Investment firms Sequoia Capital and US-based Norwest Venture Partners have led a round of Series C funding in Chennai-based lending company Five Star Business Finance, the companies said in a joint statement on Thursday. Five Star Business Finance is currently a loan provider focused in South India. Existing investors Matrix Partners India and Morgan Stanley Private Equity Asia also participated ... Read More »

Xiaomi celebrates 5 million Redmi Note 4s sold in India

The Xiaomi Redmi Note 4 has grown to 5 million sales in India. Back in March, it celebrated over 1 million units sold in 45 days and sales have remained strong since. To mark the occasion, Xiaomi created the world’s largest grain mosaic (using millet, the namesake of its phones). The mosaic covered an impressive 6,000 square feet. Besides promotion, the company did some ... Read More »

Sony’s smartphone shipments for Q1 FY2017 stood at 3.4 million, profits up

Sony has revealed its financial results for the first quarter of financial year 2017, and it’s largely good news. Total smartphone shipments stood at 3.4 million, which is up from the 3.1 million figure the company reported in the same period last year. Although mobile revenues were down (which the company says was due to “change in product mix of ... Read More »

$4 million in refunds doesn’t worry developer of PC survival game ‘Rust’

Imagine a $4 million loss sliding off your back like it’s no big deal. Well, Rust developer Garry Newman doesn’t have to imagine it at all. All told, Facepunch Studios gave out $4 million in refunds — which is only 6 percent of the total sales Rust has made since its soft launch release on Steam’s Early Access platform three and a half years ... Read More »

ECN Capital to buy Service Finance for C$410 million

Canadian commercial financing company ECN Capital Corp (ECN.TO) said on Thursday it would buy U.S.-based Service Finance Holdings LLC for C$410 million ($304 million) in cash. ECN Capital offers financial services to rail and commercial aviation markets, while privately held Service Finance Holdings lends for home improvement projects in the United States. Toronto-based ECN Capital sold its U.S. commercial and ... Read More »

New technology that can help the 360 million people with hearing loss

For the 360 million people worldwide who lack some or all of their ability to hear, technological interventions have already come a long way. But still, they’re not perfect. Hearing aids don’t translate certain frequencies as well as regular hearing, and some users find hearing interventions uncomfortable or are ideologically opposed to them. Soon that might all change. Scientists are ... Read More »

Five arrested for hacking into ATMs and stealing $3.2 million

Law enforcement authorities from Europe and Asia have arrested five members of an international cybercriminal group that specialized in hacking into automated teller machine (ATMs). The investigation began in early 2016, according to Europol. Three suspects were arrested in Taiwan, one in Romania, and one in Belarus. Most of them had multiple citizenships and could travel easily between countries, the ... Read More »

D-Wave’s $15 million quantum computer runs a staggering 2,000 qubits

For D-Wave, the path to quantum computers being widely accepted is similar to the history of today’s computers. The first chips came more than 30 years ago, and Microsoft’s Basic expanded the software infrastructure around PCs. Quantum computers are a new type of computer that can be significantly faster than today’s PCs. They are still decades away from replacing PCs and ... Read More »

Audi quattro now on 8 million cars

Audi has reached a special milestone of producing the 8 millionth car fitted with its trademark quattro all-wheel-drive system. The milestone car which rolled off from the assembly line of a new San José production facility in Mexico was the Audi Q5. Almost 34 years since its advent, the original Audi Quattro is available in more than 100 model version ... Read More »

Huawei’s phone sales in Latin America hits 10 million milestone

Huawei has revealed that their smartphone sales in Latin America has crossed the 10 million milestone. The revelation was made by the company’s Senior Vice President Yu Chengdong, who also shared a celebratory poster featuring popular football player Lionel Messi. The Chinese company has plans to expand its presence in South America, evident from the fact that the firm has ... Read More »