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PTI new delhi Last Updated at 13-11-2018 21:02:09 IST India

On-demand driver aggregator DriveU Tuesday said it has raised Rs 7 crore, led by the US-based Stevens Creek Ventures.

With this funding, DriveU is now in a position to serve beyond India's six largest metros - Bengaluru, Mumbai, Chennai, Delhi NCR, Pune and Hyderabad, the company said in a statement.

"With its current growth curve and unit economics, we have no doubts that it will become profitable very soon. While I have personally invested in DriveU at its seed stage, our newly minted fund decided to invest in DriveU as its first portfolio company," Basu Ullagaddi, founder and General Partner at Stevens Creek Ventures, said.

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Trend Micro partners Bandhan Bank

* Security software provider Trend Micro has said it has partnered with Bandhan Bank to offer a comprehensive suite of cybersecurity solutions across the latter's endpoints, network, and data centre.

The deployment has helped secure Bandhan Bank against targeted attacks, unknown malware, ransomware, and zero-day threats across all IT touch points, a statement said.

As a result of the deployment, Bandhan Bank gained a 90 to 95 percent increase in system uptime, it added.

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UST Global invests in Israel-based XM Cyber

UST Global, a digital transformation solutions company, Tuesday said it has invested an undisclosed amount in Israel-based XM Cyber.

XM Cyber offers fully automated advanced persistent threats (APT) simulation and remediation platform. Its customers include financial institutions and critical infrastructure organisations across North America, Europe, Israel and Australia.

CyberProof, UST Global’s cyber security company, and XM Cyber will work on an integrated solution to enable the first cyber risk managed service for global clients, UST Global said in a statement.

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Nasscom, Maharashtra govt ink pact

* IT industry body Nasscom Tuesday said it has inked a pact with the Maharashtra government for the former's flagship event - Nasscom Technology and Leadership Forum 2019 (NTLF).

"The partnership supporting NTLF in Mumbai has been signed on for a five-year period and will end in 2023...With this event, the government aims to support the flourishing IT sector and technology workforce in the state," Nasscom said in a statement.

The alliance is also aimed at increasing collaboration on skills and new technologies, assisting with policy development and encouraging innovation in the state of Maharashtra, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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