Week 16: Check out what happened in the tech world

CoinDCX continues to lead the Indian Crypto Market. The first crypto unicorn has now received $135 million funding. HCL Tech’s revenue is up by 12.8% YoY at $11,481 million. Rario, creator of the world’s first cricket NFT platform announced a $120 million Series A funding round led by Dream Capital, In its Meta Quest Gaming Showcase, Meta shared news and updates for 12 games, from NFL PRO ERA to Resident Evil 4 and more. Instagram has introduced a new feature expanding the ability to add product tags in Feed posts to everyone in the U.S.

With $135 million funding, CoinDCX  is highest valued crypto company in India

The government of India’s crypto policy has no such clarity yet. The recent announcement about 30% taxation has received much criticism. But these have not dampened the spirit and confidence of investors. Recently  CoinDCX in its recent blogpost announced that it has closed an oversubscribed round, over USD 135 million, in their Series D funding.

The round was led by Pantera and Steadview with strong participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred. The latest funding round also saw existing investors such as B Capital Group, Coinbase, Polychain, and Cadenza increase their investments in CoinDCX, putting it in a strong position to support the growth of the crypto/web3 industry in India. 

With this, CoinDCX becomes the highest valued crypto company in India. Not every long ago, the company has become the first crypto unicorn of India. “In the process, CoinDCX has become the gateway to the Web3 space for new crypto users.” he said.

HCL’s revenue up by 12.8% YoY at $11,481 mn

HCL Technologies announced Q4 and Annual FY’22 results on April 21, 2022. The revenue is up 12.8% YoY at US$ 11,481 mn. The net Income is up 3.2% YoY at US$ 1,807 mn. 

The Board of Directors also approved an interim dividend of Rs 18 per share. The record date for the payment of dividend is fixed at April 29, 2022. The payment will be made on May 11, 2022. 

The company, in its FY23 guidance, said revenue is expected to grow between 12 to 14 per cent in constant currency. EBIT margin is expected to be between 18 to 20 per cent for the this fiscal year. 

“We have delivered yet another stellar quarter in our Services business, where the revenue is up 5.0% QoQ & up 17.5% YoY in constant currency. Over the last three quarters, our Services business has been consistently growing organically at 5% and higher, delivering one of the highest CQGR in the industry. Our overall growth on YoY basis stands at 12.7% which is better than the guidance led by strong momentum in Digital, Cloud and Engineering services. We continue to invest proactively to create a larger talent pool to address the demand”, said C Vijayakumar, Chief Executive Officer & Managing Director, HCL Technologies. 

NFTs continue to make news

A few weeks back, world’s first authentic cricket augmented reality non-fungible token (NFT) auction, was conducted by CricFlix in association with RevSportz and Fanatic Sports. It witnessed a remarkable bidding as digital rights of bat signed by MS Dhoni-led 2011 World Cup-winning team and David Warner’s signed IPL jersey were sold for a massive price in Dubai.

Mint reported a few days back that Rario, creator of the world’s first cricket non-fungible token (NFT) platform, on Thursday announced a $120 million Series A funding round led by Dream Capital, the corporate venture capital and M&A arm of Dream Sports. The NFT platform claims to have the largest share of cricket NFT rights globally through exclusive partnerships with six international cricket leagues and a roster of more than 900 cricketers. With Dream Capital’s investment, Rario now gets access to Dream Sports’ 140 million users, who will be offered fiat-only products in India, with the potential to create the largest cricket NFT platform globally.

Another company based out of India, GuardianLink, has introduced “Zero Gas Fee Layer 2”, and enhanced transaction speed and enable high frequency trading as part of Jump.

Meta’s new VR games to hit soon

Meta hosted its second annual Meta Quest Gaming Showcase. It  shared news and updates for 12 games, from NFL PRO ERA to Resident Evil 4 and more. The highlight of the show was Ghostbusters VR, published by Sony Pictures Virtual Reality and developed by nDreams. This game that could be played alone or with teams. Giving the details, the blog mentions, “Strap on your very own proton pack and step into the Ghostbusters universe. Based out of your new San Francisco HQ, you’ll track, blast and trap ghosts while trying to unravel a mystery that threatens the entire city — or maybe the world.”

You can tag your products on Instagram

Instagram has introduced a new feature expanding the ability to add product tags in Feed posts to everyone in the U.S. In its blog, it says that creators and brands have been sharing how they use and style their favorite products on Instagram and inspiring their communities. Now we’re giving access to everyone to inspire those closest to them by enabling product tagging in posts. From supporting brands you love to helping your friends and family discover new products they may like, sharing products on Instagram just got easier.

adding product tag to post on Feed


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