Connect with us

Startup

Google is investing $100 million in telehealth provider Amwell, as the telehealth startup files for IPO

The telehealth sector continues to gain steam. Thanks in part to new government policy that makes it easier for doctors to safely provide necessary care to patients remotely by means of telecommunications technology amid the coronavirus pandemic. Today, Amwell, formerly known as […]

The post Google is investing $100 million in telehealth provider Amwell, as the telehealth startup files for IPO appeared first on Tech News | Startups News.

Avatar

Published

on

The telehealth sector continues to gain steam. Thanks in part to new government policy that makes it easier for doctors to safely provide necessary care to patients remotely by means of telecommunications technology amid the coronavirus pandemic.

Today, Amwell, formerly known as American Well, announced it has received $100 million investment from Google Cloud as part of a multi-year, strategic partnership to deliver transformative telehealth solutions across the global healthcare ecosystem.

The investment comes on the heels of Amwell’s IPO announcement. Amwell filed for an initial public offering (IPO), the Boston-based telemedicine startup announced late Monday. Early this month, we wrote about Amwell’s largest competitor, Teladoc, after it acquired Livongo for $18.5 billion to help people everywhere get high quality and personalized healthcare.

As part of the partnership, Google Cloud selects Amwell as its preferred global telehealth platform partner, and Amwell selects Google Cloud as its preferred global cloud platform partner and will migrate its video performance capabilities onto Google Cloud’s superior cloud platform for both new and existing customers around the globe.

Amwell also agreed to move parts of its business from Amazon Web Services, which it currently uses, to Google Cloud. In essence, Google cloud will now become Amwell’s “preferred global cloud partner.” Amwell will also move some of its video performance capabilities to that platform, the companies said in a press release. The two companies will also cooperate on technology and build out a dedicated sales effort to expand Amwell’s footprint in the sector.

Google Cloud and Amwell® today announced that they have entered into a multi-year, strategic partnership to deliver transformative telehealth solutions across the global healthcare ecosystem. Together, the companies will endeavor to expand access to virtual care, improve patient and clinician experiences, and leverage their unique capabilities to deliver new, differentiated healthcare solutions—across the continuum of care.

Google Cloud’s $100 million investment will enable Amwell to evolve and scale its telehealth portfolio to serve the needs of providers, insurers, and patients within current and new markets. Google Cloud’s investment will be a concurrent private placement at a purchase price that will be the same as the price to the public in Amwell’s IPO and will be contingent upon the closing of its IPO, the company said.

In its IPO filing, the company said revenue had increased 77% in the first six months of 2020, compared with the same period a year ago, from $69 million to $122 million. However, its net loss nearly tripled over the same period, growing from $41 million in the first six months of 2019 to $111 million in the first half of this year.

Founded in 2006 by Ido Schoenberg and Roy Schoenberg, Amwell is one of the leading telehealth platforms in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare.

Amwell helps patients to see a doctor from home or on-the-go. Its telehealth app connects patients to board-certified, experienced medical providers. The company provides 24/7 healthcare support, with on-demand service or scheduled appointments.

The Company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives.


Source: https://techstartups.com/2020/08/24/google-investing-100-million-telehealth-provider-amwell-telehealth-startup-files-ipo/

Startup

SK Hynix is buying Intel’s NAND business for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings

Semiconductor giant Intel Corp has agreed to sell its NAND memory chip business to South Korean chipmaker SK Hynix for $9 billion in an all-cash deal. It is the biggest acquisition to date for SK Hynix and follows its $3.7 […]

The post SK Hynix is buying Intel’s NAND business for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings appeared first on Tech News | Startups News.

Avatar

Published

on

Semiconductor giant Intel Corp has agreed to sell its NAND memory chip business to South Korean chipmaker SK Hynix for $9 billion in an all-cash deal. It is the biggest acquisition to date for SK Hynix and follows its $3.7 billion investment in Japanese rival Kioxia in 2017. When finalized, the deal would propel the South Korean chipmaker to second in the global rankings, according to a report from Reuters.

Founded in 1983 as Hyundai Electric Industry, SK Hynix is the world’s second-largest memory chipmaker (after Samsung Electronics) and the world’s 3rd-largest semiconductor company. SK Hynix is also a memory semiconductor supplier of dynamic random-access memory (DRAM) chips and flash memory chips.

The move marks the latest effort by the U.S. chip giant to divest its non-core businesses, move away from the volatile commodity NAND chip industry and focus on its remaining Optane memory business, which is smaller but more lucrative because it taps more advanced technology.

SK Hynix has tried to boost its capacity to build NAND chips – used to store data in smartphones and data center servers – and beef up its pricing power. The deal will help SK Hynix overtake Kioxia in the NAND memory market while narrowing the gap with market leader Samsung Electronics Co

Sk Hynix memory is used by Apple in some of their iMac, MacBook, and MacBook Pro computers. Apple’s A9 chipset is on board together with an SK Hynix RAM module believed to be “likely the same 2 GB LPDDR4 mobile DRAM found in the iPhone 6s.

Sk Hynix memory is also used by Asus in their Google-branded Nexus 7 tablets. Sk Hynix is also an OEM provider for IBM System x servers, and is used in desktop PCs and laptops as well as the Asus Eee PC, Dell, and HP. Sk Hynix’s memory chips are also used in DVD players, cellular phones, set-top boxes, personal digital assistants, networking equipment, and hard disk drives.


Source: https://techstartups.com/2020/10/20/sk-hynix-buying-intels-nand-business-9-billion-cash-deal-propel-south-korean-chipmaker-second-global-rankings/

Continue Reading

Startup

Junio, A Kids Fintech Startup by Former Paytm Executives

Junio is a smart card that allows digital and physical purchases to kids. As per the website, the credit card imparts financial discipline to children. It is similar to FamPay (1), backed by Y-Combinator.   Moreover, parents can control the smart card via an app to make in-app task lists and tie them with perks. It […]

Avatar

Published

on

Junio is a smart card that allows digital and physical purchases to kids. As per the website, the credit card imparts financial discipline to children. It is similar to FamPay (1), backed by Y-Combinator.  

Moreover, parents can control the smart card via an app to make in-app task lists and tie them with perks. It also allows instant fund transfer, notifications, and flexibility to cancel the card at any time with the app. 

The app may go live in the upcoming weeks from now, according to the sources. 

With Junio, Nath and Gera have also joined the list of former Paytm executives who have embarked on an entrepreneurial path. It includes Amit Bagaria, Amit Lakhotia, Saurabh Vashishtha, Deepak Abbot, Amit Sinha, and Nitin Misra. 

Amit Bagaria and Vashishtha have launched a social, commercial platform SimSim, whereas Amit Lakhotia has launched a parking app called Park+. Nitin Mishra and Deepak Abbot have launched a fintech app called Indiagold. Notably, these executives have made a massive fortune via the Paytm ESOPs. 

Junio is Set to Compete with FamPay in India in the kids’ Fintech Sector.

According to the sources, Nath and Gera are not looking to secure funds anytime soon.

Nath served Paytm as a CMO or Chief Marketing officer from December 2013 to November 2018, about five years. After departing from Paytm, he took leave for two years. At the same time, Gera spent more than four and a half years at the firm. 

Even though the kids-focused fintech sector is still at a nascent stage in the country, Junio is set to compete with FamPay backed by Sequoia. FamPay was launched in early 2019 and had already raised 4.7 million USD in a seed funding round led by Y-Combinator, Global Founders Capital, and Sequoia India. 

Several startups from the US and other western countries have evangelized kids-focused fintech and neo-banks. However, it is still a new concept in India. Greenlight, a startup based in Atlanta, USA, is one of space’s early entrants. It started smart cards that focused on kids in 2017 and has recently turned into a unicorn with 250 million USD capital from TTV Capital, Canapi Ventures, DST, and others. 

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/junio-a-kids-fintech-startup-by-former-paytm-executives/

Continue Reading

Saas

SAIF Partners is Now Elevation Capital, Bags 400M USD

SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets.  […]

Avatar

Published

on

SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets. 

The firm started investing in the startups of India 18 years ago after beginning its journey as a joint venture with Softbank. The first high-profile investment by the entity was Sify. 

While talking about the development, Ravi Adusumalli, the managing Partner of SAIF Partner, stated that the two firms’ joint venture ended decades ago. Hence, it is making a move to rebrand itself.

Notably, SAIF Partners has seven unicorns in its portfolio. It includes One97, the parent firm of Paytm, Communications, Swiggy, and Unacademy

SAIF Partners Continues to Make Commitments Amid Rebranding Itself

Adusumalli further added that the elevation indicates the investment ethos and re-emphasize the team’s commitment towards founders to redefine our future. Moreover, it is also a commitment to our partners for continued collaborations. With the rebranding, the group promises to do everything they can to achieve incredible lengths from day one. 

It is worth noting that SAIF Partners has backed over 100 startups since its inception. The firm makes long-term chances with founders and backs early-stage startups when securing their pre-seed, seed, pre-series A, and Series A fundraise. 

Moreover, the venture invests in a broad range of sectors and is looking to continue its strategy to add more interest areas, stated the Managing Director of Elevation Capital, Deepak Gaur. 

Deepak added that the firm is spending a lot of resources on SaaS enterprises. The team believes that many global companies would emerge from India in this sector. 

SAIF Partners has over 15 startups in its portfolio, estimated to become a unicorn in the upcoming years. It includes Urban Company, Acko, Capital Float, and NoBroker. Besides, several startups backed by SAIF Partners such as IndiaMART, JustDial, MakeMyTrip have already become publicly listed companies.   

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/saif-partners-is-now-elevation-capital-bags-400m-usd/

Continue Reading
Venture Capital2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Press Releases2 hours ago

Planet TV Studios Presents Episode on Luxe Air Purification Systems on New Frontiers in Air Purification

Press Releases2 hours ago

FMS Solutions CFO Shares What Independent Grocers Need to Know for 2021 Tax Planning

Startup2 hours ago

SK Hynix is buying Intel’s NAND business for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings

Press Releases2 hours ago

Innovative Battery Recycling Process by TES ‘Highly Commended’ by Reuters Responsible Business Awards 2020

Press Releases2 hours ago

William Seegmiller Launches New Blog Site Filled with Marketing Tips

Press Releases2 hours ago

Pitch Launches Publicly, Introducing the World to Beautiful, Collaborative Presentations

Press Releases2 hours ago

USA Truck Introduces Drive Your Plan Company Self-Dispatch Program

Press Releases2 hours ago

Salesforce Chair and CEO Marc Benioff to Speak at the 2020 Milken Institute Global Conference

Press Releases3 hours ago

Cognosante stays nimble with rapid expansion of HIPAA-compliant cloud deployment

Press Releases3 hours ago

Seamless Air Alliance avanza en la conectividad en vuelo con su nuevo lanzamiento

Press Releases3 hours ago

Seamless Air Alliance advances inflight connectivity innovation with new Release

Press Releases3 hours ago

AllMed Expands Capacity for Initial Clinical Review Services

Startup3 hours ago

Junio, A Kids Fintech Startup by Former Paytm Executives

Venture Capital3 hours ago

A Week in NYC

Private Equity3 hours ago

Ontario Teachers buys into Warburg Pincus-backed Princeton Digital amid new investment from private equity major

Private Equity4 hours ago

Nutrisystem bought by Kainos Capital in $575m carve-out from Tivity Health

Saas4 hours ago

SAIF Partners is Now Elevation Capital, Bags 400M USD

Private Equity4 hours ago

SAIF Partners rebrands as Elevation Capital as it closes biggest India fundraise yet on $400m

Private Equity4 hours ago

AnaCap strikes maiden India deal in education sector

Private Equity4 hours ago

Dealmaking due-diligence, marketing software specialist Datasite gets CapVest backing

Private Equity4 hours ago

Treasury launches review of financial services regulation to ‘take back control’

Private Equity5 hours ago

French generic drugmaker H2 Pharma eyes market consolidation thanks to Ardian investment

Private Equity5 hours ago

Sherpa Capital follows rapid €120m Fund III close by hiring Lahuerta to boost special situations team

Startup5 hours ago

Taxmantra to Invest 100M USD in Indian and Southeast Tech Startups

Private Equity5 hours ago

Design, consultancy company AINS Group ‘to challenge entire construction, real estate sector’ following Vaaka Partners backing

Trending