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- Paytm Debit cards will now be delivered via App. Paytm to touch $14 Bn GMV - January 19, 2018
- Angel List started their Syndicates Platform in India - January 17, 2018
- Razor Pay raises $20 Mn as Series B from Tiger Global and Y Combinator - January 16, 2018
One of the few Indians to build a company with a valuation of more than $3.1 Billion, Jyoti Bansal has founded Bansal Innovation Group (BIG) Labs with a seed fund of $50 Million. According to Jyoti, Indian Startup has huge potential however they are not able to scale especially in the B2B segment. He stated “The goal of researching multiple large problem areas, prototyping and validating unique technology solutions to those problems, establishing product-market fit, and if all of that is successful, building new companies into high-growth startups that could potentially be the tech industry’s next billion-dollar companies.”
Upon the opening of the BIG labs, the startup has also invested $20 Mn in Series A round of Jyoti’s venture – Harness.io, which is a Continuous Delivery-as-a-Service platform, along with Menlo Ventures. Harness.io helps in automating the entire Continuous Delivery process, uses machine learning to protect you when deployments fail, and equips companies with enterprise-grade security every step of the way.
Continous Delivery Continuous delivery (CD) is a software engineering approach in which teams produce software in short cycles, ensuring that the software can be reliably released at any time. It aims at building, testing, and releasing software faster and more frequently.
Being a Software Engineer for years, his forte lies in building product over AI (Artificial Intelligence), VR (Virtual Reality) and AR (Augmented Reality). He further added “I have practised as a software engineer for years, and have built and run a company that sold products to software engineering and IT teams. So I have a natural affinity for the challenges and problems software engineers and IT teams face. Many of the problems we will tackle at BIG Labs will address making life easier for the world’s 20 Mn “software professionals” – e.g., software developers, testers, operations engineers, security engineers, data scientists, product managers, UX designers, and project managers.”
Jyoti Bansal : A Software professional and Millionaire Entrepreneur
Former IITian Jyoti Bansal is the founder of AppDynamics which is a San Francisco based American privately held application performance management (APM) and IT Operations Analytics (ITOA) company started in the year 2008.
App Dynamics was acquired by the Networking and Hardware behemoth Cisco for $3.7 Bn. Jyoti had a 14% stake in AppDynamics till the company was bought by networking giant which translates his stakes into a sum of $525 Mn ( INR 3400 Cr)
Jyoti had been looking to invest his share of money in funding Tech Startups back in Silicon Valley and in India. In the Linkedin Post sharing his Journey he wrote “What a journey! Nine years ago today, in January of 2008, I was a young software engineer with a dream and determination to start my company. I spent my days making the rounds on Sandhill Road in Silicon Valley, trying to generate interest from venture capitalists. On nights and weekends, I sat on my couch in San Francisco and wrote code.”