NIPPON EXPRESS HOLDINGS ACQUIRES MINORITY STAKE IN INDIA’S WIZ FREIGHT

KUALA LUMPUR, Jan 19 (Bernama) -- Nippon Express Holdings Inc has acquired a minority equity stake in Wiz Freight (Wiz), a digital forwarding service provider in India, on Jan 12 as its third investment made via the NX Global Innovation Fund, a corporate venture capital (CVC) fund established in January last year.

It is expected that international logistics operations will become more digitised as a result of major challenges the industry has faced in recent years, including the increasing complexity of supply chain and the standardisation/streamlining of trade operations brought about by the expansion of global transactions.

According to a statement, the Nippon Express (NX) Group has been pursuing digital transformation (DX) and, in July of last year, it has launched e-NX Quote and e-NX Visibility, both digital forwarding services that enable online quotation and tracking.

To further promote DX, the group has been actively exploring the use of external resources, including collaborations with startup companies in Japan and overseas, as one solution.

By investing in Wiz which is a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives.

Founded in India in 2020, Wiz addresses rapidly growing needs for digital cross-border supply chain services in emerging countries and has more than 900 employees working at over 25 offices in six countries/regions.

The NX Group will continue co-creating new business values with promising startups by leveraging its domestic and international networks to achieve business growth.

-- BERNAMA

SAMBANOVA SUITE DEPLOYED BY ANALOG DEVICES TO SPEARHEAD GLOBAL AI TRANSFORMATION

KUALA LUMPUR, Jan 16 (Bernama) -- SambaNova Systems and global semiconductor leader, Analog Devices Inc (ADI), announced that ADI has deployed SambaNova Suite to spearhead its global artificial intelligence (AI) transformation, making AI pervasive enterprise-wide.

“Our efforts with ADI reinforce our vision that a complete software and hardware AI stack is the right answer for today’s enterprise. This is true market validation of our product direction,” said SambaNova Systems Co-Founder and Chief Executive Officer, Rodrigo Liang in a statement.

Meanwhile, ADI Chief Technology Officer, Alan Lee said ADI is synonymous with innovation, and it has a legacy of technology leadership in bridging its physical and digital worlds for the benefit of the planet and its people.

“We are working with SambaNova Systems, pioneers of cutting-edge AI solutions, to rapidly deploy their enterprise-scale generative AI platform toward enabling our customers’ success,” he said.

As part of the initial deployment, ADI will leverage the SambaNova Suite to accelerate field sales and customer enablement across its business.

For example, ADI plans to leverage the technology to streamline access to its extensive data sheets, helping inform recommendations in the field, and deepen its customer connections.

Delivered on-premises or in the cloud, the SambaNova Suite is a fully integrated platform offering state-of-the-art open-source models, which can be fine-tuned using customer data for greater accuracy.

Customers retain model ownership in perpetuity, so they can turn generative AI into one of their most valuable assets.

Makers of the only purpose-built, full-stack AI platform, SambaNova’s was founded in 2017 by industry luminaries, and hardware and software design experts from Sun/Oracle and Stanford University.

-- BERNAMA

EMGA SECURES US$30 MLN SENIOR DEBT FINANCE FOR SRI LANKA'S CDB

KUALA LUMPUR, Jan 11 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA), an investment bank specialising in emerging markets, has successfully secured a commitment for US$30.0 million in senior debt finance for Citizens Development Business Finance PLC (CDB) based in Sri Lanka. (US$1=RM4.63)

In a statement, EMGA said it originated, structured and negotiated this financing arrangement, with the financial support provided by the United States (US) International Development Finance Corporation (DFC).

Its Head of Investment Banking, Sajeev Chakkalakal said despite the challenges the firm faced, it is delighted to have delivered again an innovative funding solution for CDB.

“We believe this marks a significant milestone, in being the first external funding commitment secured for a Sri Lankan NBFI in several years. It will also allow for CDB to continue to support SMEs, including female-owned enterprises, as well as the renewable energy sector in the country,” he said.

Meanwhile, DFC Deputy Vice President of the Office of Development Credit, Maryam Khosharay said:  “We are very glad to continue DFC’s commitment to bolstering investments in Sri Lanka especially those advancing financing for women and green assets in times of economic difficulty and high energy prices.”

Commenting on the transaction, CDB Director Corporate Finance, Roshan Abeygoonewardena opined that CDB has been continually strengthening the bottom of the pyramid as an overarching ethos of its sustainability agenda.

“Prioritising women’s empowerment in our business model with access to finance which in turn will spur financial independence and inclusivity will be the panacea in adding fillip to Sri Lanka’s development and economic agenda,” Abeygoonewardena added.

Based in London and New York, EMGA helps financial institutions and corporates seeking new debt or equity capital. Its multi-national team combine the decades of experience necessary to complete transactions within most emerging countries, including Sri Lanka.

-- BERNAMA

Japan’s Maiden Off-airport Check-in Service Launched At Kansai International Airport

KUALA LUMPUR, Jan 10 (Bernama) -- Airporter Inc and MUIC Kansai (Kansai Innovation Center) have initiated Japan's first off-airport check-in service at Kansai International Airport.

According to a statement, the service aims to streamline the luggage process for outbound travellers, delivering luggage directly from hotels (or designated drop-off points) to departure airports in Japan and onward to international arrival airports.

A proof of concept (PoC) project targeting JAL users departing from Kansai International Airport was successful, in which Airporter and MUIC Kansai plan to establish collaboration with major Asian airlines frequently used by international travellers visiting Japan in the future.

The service provides same-day luggage delivery between airports and hotels by Airporter, expanding its service to international airports, which enables "hands-free travel" from hotels to overseas arrival airports.

By combining Airporter's same-day luggage delivery service with online check-in provided by airlines, this service contributes to the digitisation of boarding procedures, reducing the occurrence of long queues.

For future developments, Airporter and MUIC Kansai plan to enhance their services aiming for full-scale expansion, with Expo 2025 Osaka, Kansai in sight, whereby the duo will start expanding partnerships with major Asian airlines commonly used by international travellers visiting Japan.

Furthermore, their goal is to develop dedicated equipment that can be installed in hotels, stations, and other locations, which will enable passengers to perform luggage check-in procedures at specific points within the city, allowing travellers to conveniently check in their luggage at designated locations during their journey.

-- BERNAMA

CHAKRA GROWTH FUND LAUNCHED AND COMPLETED ITS FIRST CLOSE IN DECEMBER 2023 WITH A VISION TO DRIVE SUSTAINABLE CHANGE

SARATOGA, Calif., Jan 9 (Bernama-BUSINESS WIRE) -- As the global community grapples with the urgent need to reduce carbon emissions and mitigate the impacts of climate change, the Chakra Growth Fund emerges as a dedicated financial instrument poised to make a significant impact. By investing in companies with cutting-edge technologies, clean energy solutions, and sustainability initiatives, the fund aims to contribute to a more resilient future.

Chakra Growth Fund, a pioneering initiative committed to accelerating the transition to a low-carbon future, launched and closed the first funding tranche in December 2023. With a mission to foster sustainable practices and combat climate change, Chakra Growth Fund is set to become a driving force in supporting innovative companies across Energy, Mobility, Buildings, and Industrials.

Key Highlights of Chakra Growth Fund:

1. Strategic Investments: Chakra Fund will strategically invest in projects and companies focused on decarbonization, renewable energy, energy efficiency, and sustainable practices.
2. Global Reach: The fund will actively seek opportunities on a global scale, collaborating with innovative enterprises, research institutions, and startups that share a commitment to decarbonization.
3. Multi-Sectoral Approach: Chakra Fund recognizes the need for a comprehensive strategy and will allocate resources across various sectors, including but not limited to energy, transportation, agriculture, and manufacturing.
4. Impactful Partnerships: The fund will forge partnerships with key stakeholders, including governments, NGOs, and industry leaders, to create a collaborative ecosystem that fosters sustainable development.
5. Transparent Governance: Chakra Fund is committed to transparency and accountability, ensuring that all investments align with rigorous standards.

"Chakra Growth Fund aims to decarbonize traditional markets by providing emerging and growth capital to businesses that measure and reduce carbon/GHG emissions globally all the while adding profitability to the value chain. We have assembled an experienced set of investment professionals to find the best investments that will have significant impact and return,” said Sri Purisai, Founder and Managing Director

Chakra Growth Fund invites entrepreneurs, innovators, and thought leaders to join hands in the collective effort to combat climate change. By providing financial support and strategic guidance, the fund aims to catalyze the development and implementation of solutions that will contribute to a sustainable and resilient future for generations to come.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240108715254/en/

Contact

Saiesh Reddy
Chakra Growth Fund
saiesh@chakra.fund
949-836-3985
www.chakra.fund 

Source : Chakra Growth Fund

Sharp To Unveil Innovative Technologies At CES 2024

 

_{Sharp to Take Part in CES 2024, Major US Tech Event (Graphic: Business Wire)}

KUALA LUMPUR, Jan 4 (Bernama) -- Sharp Corporation announced its participation in CES 2024, one of the largest and most influential tech events in the world at Central Hall, Las Vegas Convention Center, Nevada, United States from Jan 9 to 12.

According to a statement, the company is set to broadly promote a variety of world-class technologies in the global marketplace by introducing its innovative proprietary technologies, based on the slogan “Toward the Future for a Better Life”.

Sharp's booth will feature a captivating Smart Living exhibit, with technologies that reduce various worries at home and make lives richer and more comfortable, whereby a virtual docent (explainer bot) powered by Communication Edge-LLM (CE-LLM) edge artificial intelligence (AI) technology will introduce the exhibit through natural, interactive conversation.

In addition to a high Speed Oven that features greatly reduced cooking times thanks to proprietary heating technology and optimal control of the heat source, the company is also showcasing hair dryers and upright vacuum cleaners that combine low noise and high power.

Sharp will present ideas to provide speed and efficiency to industries in the Smart Industry section, featuring camera technology that supports extended reality (XR) technology, in addition to visual representations of conversations and ideas in business settings, and information display to support daily life scenarios.

An AI Olfactory Sensor, developed by adapting display substrate technologies, enables sensing smells by mimicking living organisms, and an ion mobility spectrometry (IMS) gas analysis device using an atmospheric electron release element will also be on display.

The company's commitment to sustainability will be evident in the technologies to be showcased in the Sustainability exhibit, that produce renewable energies of the future and address environmental issues by improving power efficiency.

The display will include Reflective LCD signage for outdoor and ePoster colour electronic paper displays featuring low power consumption.

Sharp will also introduce the indoor photovoltaic device LC-LH that uses indoor light as well as offers high power generating efficiency and can supply power to Internet of Things (IoT) devices, along with a TV Remote Control with LC-LH device.

-- BERNAMA

GLOBAL FISHING WATCH REVEALS 75 PCT WORLD’S INDUSTRIAL FISHING VESSELS HIDDEN FROM PUBLIC VIEW

KUALA LUMPUR, Jan 4 (Bernama) -- About 75 per cent of the world’s industrial fishing vessels are not publicly tracked, with much of that fishing taking place around Africa and south Asia, according to a newly published study led by Global Fishing Watch in the journal Nature.

Providing an unprecedented view of previously unmapped industrial use of the ocean and its shifting patterns, the analysis also revealed that more than 25 per cent of transport and energy vessel activity are also missing from public tracking systems.

The groundbreaking study uses machine learning and satellite imagery to create the first global map of large vessel traffic and offshore infrastructure, finding a remarkable amount of activity that was previously “dark” to public monitoring systems.

“On land, we have detailed maps of almost every road and building on the planet. In contrast, growth in our ocean has been largely hidden from public view.

“This study helps eliminate the blind spots and shed light on the breadth and intensity of human activity at sea,” said its director of research and innovation and co-lead author of the study, David Kroodsma in a statement.

Researchers from Global Fishing Watch, the University of Wisconsin-Madison, Duke University, UC Santa Barbara and SkyTruth analysed two million gigabytes of satellite imagery spanning 2017-2021 to detect vessels and offshore infrastructure in coastal waters across six continents where more than three-quarters of industrial activity is concentrated.

The study also shows how human activity in the ocean is changing. Coinciding with the COVID-19 pandemic, fishing activity dropped globally by about 12 per cent, with an eight per cent decline in China and a 14 per cent drop elsewhere, while transport and energy vessel activity remained stable.

Additionally, it highlights the potential of this new technology to tackle climate change, in which mapping all vessel traffic will improve estimates of greenhouse gas emissions at sea, while maps of infrastructure can inform wind development or aid in tracking marine degradation caused by oil exploration.

The open data and technology used in the study can help governments, researchers and civil society to identify hotspots of potentially illegal activity, determine where industrial fishing vessels may be encroaching on artisanal fishing grounds, or simply better understand vessel traffic in their waters.

The study was supported by National Geographic Pristine Seas and Oceankind, and Global Fishing Watch is able to further the application of this innovative work, as an awardee of The Audacious Project, a collaborative funding initiative that is catalysing social impact on a grand scale.

-- BERNAMA