Bengaluru-based Axio Biosolutions, a wound care products provider company on Tuesday said it has decided to enter the retail space in India. Founded in 2008, Axio is funded by several marquee investors -- UC RNT, Omidyar Network, Accel, and Chiratae Ventures. UC-RNT is an alternative investment fund that partners Ratan Tata-led RNT Associates and the University of California. Axio’s retail expansion will have customers access its products via over 6,000 retail outlets, popular e-commerce platforms, and the company’s online store, as per a statement. The company has a presence in 18 countries. Its products include a first-aid dressings, an advanced wound care dressing for patients suffering from chronic wounds, such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, post-operative surgical wounds and cavity wounds, and Covid-19 essentials.
Freshworks uses Amazon SageMaker Studio from AWS
Amazon Web Services (AWS) on Tuesday said customer helpdesk software provider Freshworks uses AWS as a preferred machine learning (ML) and artificial intelligence (AI) provider. Using Amazon SageMaker, Freshworks trained 33,000 models to deliver personalized customer service and support to 11,000 customers, a statement said. Since adopting SageMaker, nearly 60% of Freshworks’ customers have experienced faster responses to support issues, the statement said, adding that Freshworks has also reduced training time for these models from 27 hours to 33 minutes. Separately, AWS also announced that Amazon SageMaker Studio, its first fully integrated development environment (IDE) for machine learning (ML), is now available in thirteen more AWS Regions including the AWS Asia Pacific (Mumbai) Region, bringing the total to 22 regions.
Emerald Jewellery, IBM unveils B2B mobile app
IBM on Tuesday said that it has collaborated with jewellers Emerald Jewel Industry India to deploy the latter’s mobile app, dubbed Tej. The AI enabled mobile application platform will power its B2B business. The app, a statement said, connects Emerald Jewellery with its about 200 dealers, enabling them to search through a growing catalogue of over 500,000 jewellery designs quickly and navigate the complex ordering process easily. As a part of the multi-year engagement, Emerald Jewellery selected IBM iX, the business design arm of IBM Services, to design, build and deploy Tej, which runs on iOS and Android operating systems, the statement added.
Groww waives demat account maintenance charges
Bengaluru-based B2C investments platform Groww on Tuesday said it has waived account maintenance on its demat cum trading account, thereby providing investors with the flexibility to invest in the stock market without worrying about signing up for monthly, quarterly or annual maintenance charges. The new change in the pricing policy is effective from Nov 23, 2020, it said. “Investors on Groww won’t have to commit to any fixed charges to keep their account active. Only for the orders placed, they will be charged a brokerage amount equal to Rs 20 or 0.05% of the order value, whichever is lower,” a statement added.