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TWTW Weekly Wrap Up: 15-21 Jan

BW Online Bureau Jan 21, 2023

Last Week’s Latest

The messaging platform Discord announced its acquisition of Gas, an app that’s popular among teens for its positive spin on social media.
Tabby raises USD 58 million at USD 660 million valuation as PayPal Ventures makes first investment in the GCC
Cumul.io, the company behind a low-code business intelligence (BI) analytics platform for software-as-a-service (SaaS) companies, has raised EUR 10 million (USD 10.8 million) in a Series A round of funding.
IPwe Inc., along with Casper Labs, announced the largest enterprise blockchain deployment in history on January 18th, 2023, in Davos, Switzerland, during the week of the World Economic Forum.
MacroFab secures USD 42 million in growth funding from Foundry, Edison Partners and BMW i-Ventures
Sai Life Sciences opens new High-Potency API manufacturing facility at its Bidar campus
In another boost to Apple manufacturing in India, the tech giant's several Chinese suppliers in the country have got initial clearance, the media has reported.
Tech giant Microsoft has invested an undisclosed amount in HR tech startup Darwinbox as part of its Series D funding.
Gogoro, the Taiwanese paladin for two-wheeler battery swapping, is working with the Indian state of Maharashtra to establish state-wide battery charging and swapping infrastructure.
PhonePe, Paytm world’s most downloaded finance apps in 2022; India dominated the list of top finance apps in the world

Focused Story Of The Week #1: Going Global -The Indian Fintech Story

The most popular finance applications downloaded worldwide in 2022 were PhonePe and Paytm, two significant Indian fintech companies, according to data.ai's State of Mobile 2023 survey. Google Pay, which has a sizable user base in India, came in third place globally, trailing PhonePe and Paytm. Technology advancements and the daily release of cutting-edge innovation have made it possible for the global financial services sector to experience exponential growth. The fintech landscape in India is better than it has ever been. According to EY, India is outpacing the rest of the globe in the adoption of fintech, with a rate of 87 percent compared to a global average of 64 percent. By 2030, the Indian fintech sector is anticipated to grow to USD 200 billion at this rate.

However, despite registering unprecedented growth in the last few years, India still has the second largest population without access to banking services with 190 million people. The Indian government has made several significant moves to include all populations under the scope of financial inclusion. As a result, there are now more companies offering financial services that are based on technology and offer banking services all throughout the nation. By collaborating with existing banks and utilising technology, fintech firms are offering banking services at a low cost and with little paperwork to a sizable portion of the population.

The industry is expected to experience extraordinary growth in the next years as India, which now leads the globe in fintech adoption rate, capitalises on new financial innovations and technology. This would significantly increase access to banking and financial services for those living in small towns and rural areas, not just in India but across the world.

"India now has the chance to take the lead in the world for a noble cause: global financial inclusion."

Focused Story Of the Week #2: Low Code, No Code – Making Enterprises Efficient
A EUR 10 million Series A round of funding has been secured by Cumul.io, the firm behind a low-code business intelligence analytics platform for SaaS businesses. The future of web development is turning out to be low-code development. By 2024, low-code application development will account for more than 65 per cent of all application development effort, predicts Gartner. Low-code and no-code platforms have historically grown to be quite popular due to their assurance that functional teams will be able to create applications more quickly.

For developers, the advantages of low-code development are well understood. To speed up the launching of their goods, software developers have increased their focus on low-code platforms. Even seasoned SaaS developers are now evaluating the viability of low-code platforms for quick application creation with less coding in the era of cloud-powered SaaS solutions. Experienced developers need less time to design a new application than they would using conventional programming techniques. Low-code platforms also work more quickly to address faults, take consumer feedback into account, and add new features.

Low-code platforms cater to the business side of application development by making third-party integrations simpler. More people who have an interest in the product are involved in the entire creation process. By doing this, the product is improved and better suited to user requirements.

Because of the way "conventional" application development is changing thanks to low-code tools and platforms, even seasoned engineers can benefit from them. As more SaaS businesses use low-code development to create their applications and products, more money is being invested globally into SaaS-ifying enterprises.

"Low-code, no-code puts the power of efficiency into the hands of a newer generation of corporate professionals who have a greater aptitude for technology."