Tag: funds

Posted in technology

Edtech Startup Pesto Tech Raises Funds to Strengthen Presence in Silicon Valley

The company has raised an undisclosed amount of funding from a clutch of angel investors from the Silicon Valley

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Indian edtech startup Pesto tech on Thursday announced that it has raised an undisclosed amount of funding from silicon valley angel investors such as Ryan Hoover of Product Hunt, Anand Chandrasekaran of Stalwart Angel Investor, Ankur Nagpal, founder and CEO, Teachable and Sahil Lavingia, founder and CEO, Gumroad.

The company said it will utilize the fresh capital to strengthen its presence in Silicon Valley as a part of its mission to grow globally.

Founded in 2018 by Ayush Jaiswal, the startup enables Indian software engineers to work remotely for global companies. The company claims that they aim to get Indian software talent borderless by unlocking the potential of remote work.

Till date, Pesto tech has helped 85 per cent of the 100 graduates get placed and the remaining 15 per cent are in the late stages of the interview process. Salary packages of few of these software engineers have been as high as USD 85,000 and the highest salary increment has been 16X leading to a package of USD 82,000.

Pesto grads are hired by leading tech startups including  Highlighter, Snorkel, Human Capital, Remotion, Airmeet, Paypal among others.

Commenting on the recent funding, co-founder and CEO Jaiswal said, “We are excited to welcome some amazing people to the Pesto fam, their advice will be valuable for us as we get into our next phase of growth. As the world goes remotely, our goal is to make sure we make it extremely easy for companies to think about talent acquisition globally from

Posted in computer

Hedge Funds Taking Some Chips Off The Table

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Since the end of March, investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned more than 50% since its bottom. In this article you are going to find out whether hedge funds thought Super Micro Computer, Inc. (NASDAQ:SMCI) was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.

Super Micro Computer, Inc. (NASDAQ:SMCI) was in 22 hedge funds’ portfolios at the end of the second quarter of 2020. The all time high for this statistics is 24. SMCI shareholders have witnessed a decrease in hedge fund interest lately. There were 24 hedge funds in our database with SMCI holdings at the end of March. Our calculations also showed that SMCI isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.

Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 56 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. We have been tracking and sharing the list of these stocks since February

Posted in internet

Trudeau’s internet funds will be difficult to coordinate: experts

The government wants to connect 100 per cent of Canadians to high-speed internet by 2030. REUTERS
The government wants to connect 100 per cent of Canadians to high-speed internet by 2030. REUTERS

Experts say Justin Trudeau’s Liberal government is going to have a challenging time coordinating between different departments to roll out funding for broadband internet projects as the Canadian Infrastructure Bank (CIB) announced $2 billion to connect Canadians.

Trudeau, with Infrastructure Minister Catherine McKenna, and Michael Sabia, chair of the board of the CIB, announced Thursday the $10 billion CIB’s growth plan in an effort to support Canada’s COVID-19 economic recovery. 

The additional $1 billion from the CIB that was announced in the 2019 budget, will connect about 750,000 homes and small businesses to broadband services in “underserved communities,” over the next three years. Sabia said funds from today’s announcement will be rolled out by the end of 2020.

John Lawford, executive director and general counsel of the Public Interest Advocacy Centre, said in an interview that while the announcement is positive, it is more of a political move under the “excuse of COVID.”

“I haven’t seen a coordinated government thing. This is yet another sort of political layer of funding on top of all the other political layers of funding on top of the very inadequate CRTC fund,” Lawford said. 

Since 2016, the government has announced various funds to help connect more Canadians to broadband services. This includes the $585 million Connect to Innovate program administered through the Innovation, Science and Economic Development Ministry; the $1.7 billion Universal Broadband Fund administered through the Rural Economic Development Ministry; and $2 billion that would be brought in through private investment announced in the 2019 budget. 

The CRTC also announced its own $750M Broadband Fund in late 2016. 

In the 2019 budget, the government pledged to connect 100 per cent of Canadians to broadband internet services by

Posted in computer

Amazon funds computer science program, donates $30K in school supplies

Hamilton County Schools’ latest partnership with Amazon will benefit tens of thousands of students, officials said.

The American multinational technology company plans to fund a computer science initiative — influencing more than 21,700 Hamilton County students in 42 elementary schools as part of its Amazon Future Engineer program. Amazon is also working with BootUp , a nonprofit professional development provider helping teachers bridge the equity skill gaps among the students.

The company’s commitment to the school district is part of a $50 million nationwide investment towards STEM education, primarily through the program. The area campuses will join more than 60 high schools and more than 80 elementary schools already participating in the program statewide.

Through a news release, Hamilton County Superintendent Bryan Johnson said the partnership will help the district reach one of its goals of students being prepared for success after graduation. The objective is part of the district’s Future Ready 2023 action plan.

“Computer skills are vital for young people, and the early start in this program for our elementary children will reap benefits while the students are in school and as they move forward in a college or career after they leave high school.”

In the same news release, Hamilton County Mayor Jim Coppinger said he looks forward to a future conversation with the teachers and students helped by the program.

On Friday the multibillion-dollar company went a step further in its efforts to support the school district with a $30,000 donation in school supplies.

Amazon employees delivered more than 11 pallets of supplies to Bess T. Shepherd Elementary School, located close to the 7200 Discovery Drive site.

The supplies were funded by Chattanooga Amazon Fulfillment Center staffers, who collected $15,000 worth of school supplies. Their donation was matched by a $15,000 monetary donation by Amazon’s Seattle-based