Universal Ai University Launches India’s 1st Metaverse and AI based Admissions Process

India: Universal Ai University, India’s First AI University, nestled in the picturesque valley near Mumbai’s heart, Karjat has announced an innovative admissions process through the metaverse called “Eventuality.”. This platform transcends traditional admission methods by providing an engaging and transformative student journey experience that transcends traditional admission techniques. Eventuality not only transforms the admissions process, but it also demonstrates Universal Ai University’s dedication to visionary creativity and technological ability.

Universal Ai University's AI based Platform - Eventuality

The standard educational system frequently fails to captivate students’ imaginations, resulting in disengagement and a lack of passion. Universal AI acknowledges this difficulty and strives to improve the admissions experience by making it more fascinating and immersive. Eventuality represents a step into the future of education, embracing the metaverse as a driver of change.

In the metaversal adventure known as Eventuality, students embark on a life-altering journey that takes place beyond the confines of conventional web interfaces. The platform has a user-friendly interface that allows students to easily interact with the environment and select avatars that represent their digital presence.

Eventuality introduces the Droid, a digital companion (ROBOT) who assists applicants through their metaversal adventure. The Droid welcomes candidates, administers dynamic aptitude tests, facilitates personal interviews (PI), and provides a superior and smooth contact experience. Eventuality revolutionizes the admissions process by combining optimization algorithms, crowd-generating tools, and visual-enhancing technologies.

Candidates also get a 360° campus visit experience, with the Droid accompanying candidates to the admission test room, administering tests, and providing results quickly. The Droid oversees virtual interviews, which university administration reviews and distributes via email or read out by the Droid. Candidates can even schedule their own interview slots, marking a significant stride towards a humanless admissions process—an unprecedented feat exclusive to Universal Ai University. Also, in multiple phases elements using AI will allow for the selection of candidates based on sophisticated Ai models based on the wholistic admission eligibility criteria.

Why eventuality? Eventuality departs from typical web interfaces, providing an intuitive and seamless metaverse exploration experience. Candidates can easily browse and interact within the virtual environment.

Universal Ai University’s adoption of the metaverse is revolutionizing not only the admissions process but also the educational landscape for tomorrow’s leaders, innovators, and changemakers. One of the students, Prakash Kumar from a leading school, Indus International School in Pune, who experienced this, shares, “it’s a fantastic concept that holds great promise for the future.”

As Universal Ai University pioneers the use of the metaverse in education, Eventuality develops as a symbol of innovation and development. Universal Ai University’s Founder & Chancellor, Mr Tarun Anand says, “With Eventuality at its helm, the University not only equips students for a future where technology and creativity intersect but also establishes itself as a trailblazer in shaping the educational landscape of tomorrow. As Eventuality reimagines admissions, Universal Ai University remains steadfast in its commitment to innovation, ushering in a new era of educational excellence in the digital age. “

Shish Group promotes sustainability and healthy lifestyle

Surat…February 21, 2024… Shish Group proudly announced the triumphant conclusion of Shish Cyclothon 2024, underscoring the organization’s unwavering dedication to championing sustainability, health, and community impact. The Cyclothon, which took place from January 31 to February 2, 2024, showcased not only exceptional athleticism but also a profound commitment to fostering positive environmental and social change.

Shish Cyclothon 2024

Shish Cyclothon 2024, led by Shish Group, enters the World Book of Records, London as the Largest Cyclothon: Featuring the Largest Cyclist Group on the longest route. Inspired by Prime Minister Narendra Modi’s call for sustainability and fitness, 333 cyclists covered 333 kilometers in 3 days from Surat to Sarangpur, exemplifying India’s commitment to sustainable sports. The initiative, supported by the Shish Foundation, underscores the nation’s dedication. Refreshment stalls were set up every 10-15 kilometers along the Surat to Sarangpur stretch for participant support.

The theme of “You Pedal, We Donate!” resonated throughout the event, with each kilometer cycled by participants resulting in a contribution of ₹10 toward the cause of fostering inclusion for vulnerable populations and combating drug abuse. Shish Group pledged its support to this cause, with donations directed to the Manav Seva Charitable Trust and Sevatirth Trust.

Expressing their enthusiasm for the event, Shish Group founders Satish Maniya, Sunil Shah, and Ramesh Kakadiya said, “At the core of Shish Cyclothon 2024 is our steadfast dedication to sustainability, health, and community betterment. Inspired by Prime Minister Narendra Modi’s vision, we didn’t just pedal for records, but for a brighter future. Each kilometer represented our commitment to inclusivity and a drug-free society. With gratitude to all involved, we move forward, fueled by the success of this event, towards a tomorrow where health, sustainability, and inclusivity thrive. We are grateful for the support of dignitaries such as Shri Harsh Sanghvi, Gujarat State Home Minister; Shri. Purshottam Rupala, Minister of State for Animal Husbandry, Dairying and Fisheries of India; Shi. Daxesh Mavani, Surat City Mayor; IPS officer Anupam Singh Gahlot, Vadodara Commissioner of Police; Collector of Botad District Jincy Roy, and many others.”

Throughout the journey from Surat to Sarangpur, Shish Group collaborated closely with the Gujarat Police, Surat Police, Surat Traffic Police, Vadodara Police, and Botad Police where they played key role in escorting and providing safety to all the cyclists along the whole route from Surat to Sarangpur to build a healthier society. The event received overwhelming support from the community and media, underscoring the collective commitment to creating a future where health, sustainability, and inclusivity thrive.

As the wheels set in motion for this extraordinary event, Shish Group extends its heartfelt gratitude to everyone involved, reaffirming its dedication to fostering positive change and leaving a lasting impact on society. With the success of Shish Cyclothon 2024, Shish Group looks forward to continuing its journey toward a brighter, more sustainable future for all.

The UX-2000 Retro, Featuring 5 Changeable Voices on Calls and Magnetic on/off convenience

Mumbai, 21st February 2024 – Unix, one of the fastest-growing mobile accessories brands, is thrilled to announce the launch of the UX-2000 Retro, the ultimate wireless neckband for music enthusiasts. With five customizable voices to suit your mood and style, the UX-2000 Retro Neckband can sound like a small baby, cartoon character, or even an old man, adding a delightful touch of fun to your conversations. The product is backed by a 1-year warranty and is available at leading retail stores, as well as e-commerce platforms like Flipkart and Amazon, priced at INR 999/-.

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Featuring an unprecedented 450 hours of playtime, the Unix UX-2000 Retro ensures uninterrupted music and calls, making it the perfect companion for long journeys and adventures. Equipped with Advanced Environmental Noise Cancellation (ENC), the UX-2000 Retro guarantees crystal-clear sound during calls and music playback, even in noisy environments. Its quick charging capabilities minimize downtime, while the magnetic on/off function provides effortless control and convenience. Plus, with its substantial 1000mAh battery, users can enjoy extended usage without any charging anxiety.

“Several neckbands are available in the market, but the UX-2000 Retro goes beyond the ordinary, offering users a unique experience with 5 changeable voices. It’s a testament to our continuous efforts to bring novelty to our users, ensuring that every product embodies our dedication to quality, affordability, and a touch of innovation for a distinctive user experience.” Said Mr. Sandeep Bafna, Co-Founder, UNIX INDIA on the launch of UX-2000 Retro.

Bluetooth Version V5.3 ensures a stable and seamless connection with all compatible devices, allowing users to enjoy their favourite music and take calls with ease. Designed for comfort and durability, the Unix UX-2000 Retro offers a sweat proof and snug fit, ideal for active lifestyles.

Unix has an extensive range of 600 SKUs, 50+ super stockists, and over 400 distributors across 500 cities nationwide, Unix remains dedicated to delivering quality products to Indian tech-savvy users.

RITES organizes Annual Sports Day ‘Spardha’

Gurugram, February 21, 2024: RITES Ltd., a prime transport infrastructure consultancy, organized its Annual Sports Day ‘Spardha’ with enthusiasm and zeal at Tau Devi Lal Stadium, Gurugram, on Sunday. The event, hosted by the RITES’ Sports Association (RSA), drew active participation from employees and their families.

team rites

The day kicked off with RITES Director (Technical) & RSA Chairperson Dr. Deepak Tripathi administering an oath for sportsmanship and teamwork, setting the stage for a day of spirited athletic contests and community engagement. A variety of sports activities, including track-and-field events, and tug of war, were organized for the staff. At the conclusion of the day, successful participants were honoured with felicitations.

Birla Carbon to participate at PaintIndia 2024

Mumbai, India – February 21, 2024: Birla Carbon, one of the leading manufacturers and suppliers of high-quality carbon-based solutions for the coatings and inks industry, will participate in PaintIndia 2024, to be held from February 22 – 24, 2024, at the Bombay Exhibition Center, Goregaon, Mumbai.

aditya birla

Birla Carbon will showcase its coatings and ink solutions at Stall B7, Hall 1.

Speaking on the participation, John Davidson, Chief Sales & Marketing Officer, Birla Carbon, said, “PaintIndia 2024 is an important opportunity for Birla Carbon to showcase its leadership in sustainability, innovation, and our technical expertise. At Birla Carbon, we strive to work hand in hand with our customers, assisting them in achieving their sustainability and enhanced performance goals through our extensive product portfolio and technical expertise. We will showcase our broad range of Raven, Conductex, and Continua™ SCM solutions for the coatings industry.”

At PaintIndia 2024, Birla Carbon, along with ContinuaTM SCM, will focus on specific applications, demonstrating its expertise across various product lines:

High Color Application – Raven 5000U, Raven 5100U

Medium Color Application – Raven 1255, Raven 1185UP, Raven 675U, Raven 1060U, Raven1035

Powder Coating – Raven 3000U

Tinting Application – BC1083, Raven 425

Conductive Application – Conductex 7055U

Birla Carbon is recognized for its technical strength in high and medium color and tinting solutions, offering superior dispersion and color performance in various engineering coatings and inks applications. Offering a comprehensive range of high-performance carbon blacks for coatings/inks, Birla Carbon’s solutions prioritize functionality to help customers find optimal solutions tailored to their specific requirements.

To learn more about these solutions, visit Birla Carbon at Stall B7, Hall 1.

South Asian Automobile Forum to expand Trade in the Region

Mumbai, 21th February 2024: The Society of Indian Automobile Manufacturers (SIAM) along with the Bangladesh Automobiles Assemblers and Manufacturers Association (BAAMA), the Ceylon Motor Traders’ Association, Sri Lanka (CMTA) and the NADA Automobiles Association of Nepal (NADA), recently formed a South Asian Automobile Forum at the sidelines of Bharat Global Mobility Expo in February 2024. This forum aims to promote collaboration and cooperation among automobile sector in the South Asian region. It will serve as a platform for members of the associations to regularly engage in dialogues, share best practices, and work together towards common goals for the advancement of the automotive industry in the region.

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On the establishment of this forum, Mr. Vinod Aggarwal, SIAM President and Managing Director & CEO of VE Commercial Vehicles Ltd (VECV), said, “The automobile sector plays a significant role in the economic development of South Asian countries, and there is great potential for synergies and mutual growth with closer collaboration in this sector. Creation of this forum will further strengthen the ongoing cooperation amongst the Automobile industry of Bangladesh, Nepal, Sri Lanka and India.”

Mr Rakesh Sharma, Chairman of SIAM Exports Group and Executive Director, Bajaj Auto added, “The forum will provide a valuable opportunity for members of each of the associations to address shared challenges and explore opportunities for collective growth, while promoting adoption of best practices and responsible advancement of the automobile sector in the South Asian Region.”

SurveySparrow taps into generative AI with new features to revolutionize Customer Experience

India – 21st February 2024: In the age of AI and automation, SurveySparrow, the leading experience management platform, takes the lead by incorporating generative AI to redefine customer experience management. Recognized as the world’s first chat survey software, SurveySparrow is pioneering the integration of AI into the customer experience realm through its cutting-edge features, “Wings” and “CogniVue.” These innovations are designed to optimize and elevate every aspect of experience management.

AI Wings, aka your own Jarvis, become the autopilot for making feedback collection faster and more efficient. Wings goes above and beyond by curating questions for surveys, creating custom workflows, drilling down data and visualizing with widgets, and even managing customer tickets and your online reviews. Businesses can effortlessly ‘Wing it’ across approximately 20+ features within the product, using this comprehensive toolset for crafting exceptional customer experience.

To further address the challenge of extracting actionable insights from vast data volumes, SurveySparrow launches CogniVue, its intelligent data analyst. With the ability to drill down into survey responses, it identifies customer sentiments and uncovers key drivers behind important business metrics. CogniVue simplifies the daunting task of data analysis by offering smart, industry-specific insights. This advanced analytics tool is a game-changer for Voice of the Customer (VOC) analysts.

Shihab Muhammed, Founder and CEO, SurveySparrow says “Embracing generative AI allows us to turn data into dialogues and insights into actions. It’s about elevating the customer experience to be more human-centric, even in a digital domain. Our platform is now more intuitive, responsive, and, importantly, more personal.”

SurveySparrow is known for its unique approach to surveys, with the help of a conversational UI, which has reimagined the feedback collection process. The mobile-first design and ability to customize the survey look and feel have played a significant role in achieving higher completion rates and more effective feedback collection. SurveySparrow’s surveys have consistently delivered response rates exceeding 40%, far surpassing the industry average of 15%, and sometimes even reaching an impressive 80-90%. With AI now in the picture, the numbers will only get bigger and better.

Rishul Raj Aggarwal, Business Unit Head, SurveySparrow commented “Generative AI is reshaping the landscape of customer experience, making it more intuitive, personalized, and efficient. With Wings and CogniVue, we’re not just automating processes; we’re elevating them to meet the needs of today’s dynamic customer interactions.”

SurveySparrow’s commitment to innovation doesn’t end with these features. The company is on a mission to continually push the boundaries of what’s possible in customer experience, ensuring businesses can not only meet but exceed customer expectations.

In line with this vision, SurveySparrow is hosting its exclusive CX event, ‘RefineCX India’, on February 23rd at Sofitel BKC, Mumbai. This second edition of the exclusive gathering of top CX professionals will feature insights from leading industry leaders on themes like mastering personalization and harnessing social reputation and showcase a sneak peek of SurveySparrow’s cutting-edge innovations.

As we look to the future, SurveySparrow promises more groundbreaking developments, signaling a new era where every customer interaction is powered by understanding and foresight. With SurveySparrow, the future is not just automated; it’s personalized.

REHAU to Unveil Next-Generation Furniture Solutions at INDIAWOOD 2024

Step into the future of interior design craftsmanship with REHAU, the epitome of German expertise in inclusive interior solutions, at INDIAWOOD 2024. From February 22nd to 26th, in Hall no.2A, Stall no. B102, at the Bangalore International Exhibition Centre, witness global excellence in interior innovation, meticulously crafted with the precision and quality synonymous with German engineering. As REHAU showcases its cutting-edge solutions, visitors will be immersed in the legacy of German craftsmanship, driving the evolution of interior spaces into realms of sophistication and ingenuity, catering to the needs of Indians with a global vision.

indiawood

Edgebands are at the heart of REHAU’s furniture business and, thus, RAUKANTEX from the House of REHAU, has redefined interior design possibilities for architects, designers, and homeowners globally. With over 20 million color combinations and a perfect match to leading surface styles, RAUKANTEX Edgebands offer unparalleled customization. Resistant to scratches, impacts, and abrasions, RAUKANTEX ensures durability while its antifungal and antibacterial properties provide added peace of mind. As a well-established player in the international furniture industry with a proud German tradition of quality and reliability, REHAU uses its edging know-how every day to make sure the customers get exactly the product they need.

A highlight of the exhibition will be the premiere of the RAUVISIO Crystal Deep Collection, an exciting addition to REHAU’s esteemed RAUVISIO crystal range. This collection introduces a new dimension to matte surface finishes, offering versatility and sophistication to interior spaces, all crafted with the care and reliability that define German engineering.

Visitors to INDIAWOOD 2024 will also have the opportunity to explore REHAU’s latest creation, the RAUVOLET Noble Matt Roller Shutter. This roller shutter embodies elegance and practicality with its soft-touch mechanism for effortless operation. Its super matte finish adds a touch of sophistication to interior spaces, complementing various design styles with ease. The RAUVOLET Noble Matt Roller Shutter enhances your interiors with REHAU’s reliable tambour door mechanisms, including the C3 installation kit and C-box cassette system, reflecting the brand’s German excellence.

In a testament to its commitment to India’s industrial growth, REHAU announces the inauguration of its Centre of Excellence at its Vadodara facility. This strategic consolidation underscores REHAU’s dedication to sustainability and supporting India’s industrial aspirations. As REHAU integrates into the vibrant Vadodara community, the leadership team focuses on optimization, capacity utilization, and operational excellence, driven by German technology and a pursuit of craftsmanship.

As REHAU proudly commemorates 75 years of global excellence, the company is excited to unveil ambitious plans for India. REHAU’s journey of seven decades has been defined by a relentless pursuit of innovation and quality, and as the company embarks on this new chapter, it remains dedicated to bringing the unparalleled precision and expertise of German engineering to even more Indian communities.

With the theme of German Quality for Global India, REHAU is revolutionizing the Indian market by seamlessly blending German precision and quality with the diverse needs of the global Indian consumer base. With the assurance to delivering top-notch design and products, REHAU caters to the discerning Indian customers who have an eye for niche interiors. Understanding that for many, the aesthetic appeal of their living or working spaces is paramount, REHAU goes above and beyond to provide solutions that not only meet but exceed expectations. Whether it’s innovative architectural designs, cutting-edge technology, or impeccable craftsmanship, REHAU ensures that every product reflects the epitome of German engineering excellence.

Join REHAU at INDIAWOOD 2024 – Hall no.2A, Stall no. B102, from February 22nd to 26th at the Bangalore International Exhibition Centre, and experienced “The 3D Way – Explore the Latest through REHAU’s Lens”, an immersive journey merging aesthetics with digital technology. This innovative showcase promises a unique perspective on REHAU’s cutting-edge solutions, offering visitors an interactive and engaging experience unlike any other.

The Future of Interconnection: Innovations and Trends in Cloud Connectivity Enabled by Microsoft Azure Peering Service

sudhir

BY: Sudhir Kunder

In today’s digital age, where businesses increasingly rely on cloud computing and connectivity to drive innovation and productivity, the role of robust interconnection solutions cannot be overstated. As cloud adoption continues to soar, enterprises are seeking faster, more reliable, and more secure ways to connect to cloud services, particularly those offered by industry giants like Microsoft Azure. Among the array of solutions emerging to meet this demand, Microsoft Azure Peering Service stands out as a game-changer, offering unparalleled benefits for businesses looking to optimise their cloud connectivity.

 The Microsoft Azure Peering Service is a networking service designed to enhance connectivity between an organisation’s on-premises network and Microsoft’s global network. By leveraging partnerships with Interconnection Platforms, Azure Peering Service offers Direct, Reliable, and Low-Latency connections to Microsoft Cloud Services, including Azure Cloud , Microsoft 365, and ynamics 365.

 Key Innovations Driving Cloud Connectivity
Enhanced Performance and Reliability
With the Azure Peering Service, businesses can enjoy improved performance and reliability by bypassing the public internet and connecting directly to Microsoft’s global network. This direct connection minimises latency and improves it by 90%, packet loss, and jitter, resulting in a smoother and more responsive user experience for mission-critical applications and services with a 50% reduction in trouble tickets.

 Optimal Routing and Traffic Optimisation
Azure Peering Service employs routing algorithms to optimise traffic flow, ensuring that data packets take the most efficient path between the customer’s network and Microsoft’s services. By dynamically selecting the best route based on network conditions, congestion levels, and otherfactors, Azure Peering Service maximises performance while minimising latency and bandwidthutilisation.

 Enhanced Security and Compliance

Security is paramount in the cloud era, and the Azure Peering Service offers robust security features to safeguard data in transit. By encrypting traffic using industry-standard protocols like IPsec and TLS, the Azure Peering Service ensures that data remains confidential and protected from interception or tampering. Moreover, the Azure Peering Service adheres to industry compliance standards, helping businesses meet regulatory requirements and maintain data sovereignty.

 Why MAPS

  •  Guaranteed high-performance connectivity with the lowest possible latency.
  •  A guaranteed DDoS-free connection even for the smallest bandwidths.
  • Binding SLAs are supported by Microsoft.

 Carrier-grade interconnection service specifically designed for enterprises

Interconnection Platforms offers direct access to the Microsoft Azure Peering Service (MAPS). The service provides highly reliable and optimised Internet connectivity to Microsoft’s cloud services, such as Microsoft 365 (formerly known as Office 365), and improves the user experience by offering he shortest network path from your premises to the nearest edge PoP in the Microsoft network.

 Latency optimisation and traffic monitoring
With MAPS, Microsoft customers get qualified validation of the prefix and feedback on whether the correct edge location has been assigned. The Interconnection Platform infrastructure setup for Microsoft is locally redundant and supports failover across multiple locations (geo-redundancy). This guarantees high-performance connectivity with the lowest possible latency. In addition, you can take advantage of Internet latency telemetry and route monitoring, getting alerts for hijacks, leaks, and any other Border Gateway Protocol (BGP) misconfigurations.

  No minimum bandwidth required
No minimum bandwidth is required to benefit from the Microsoft Azure Peering Service via the Interconnection Platform but you do need a public ASN (Autonomous System Number) to participate.

  As businesses continue to embrace the cloud and prioritise digital transformation, the demand for fast, reliable, and secure connectivity solutions will only grow. Microsoft Azure Peering Service, with its innovative features and global reach, is poised to play a pivotal role in shaping the future of cloud connectivity, enabling enterprises to accelerate their journey to the cloud with confidence and efficiency. By leveraging the power of Azure Peering Service, businesses can unlock new opportunities, drive innovation, and stay ahead in today’s dynamic and competitive landscape.

  In the current connectivity scenario, customers often access the Microsoft SaaS Platform via the Open Internet, exposing them to a myriad of risks. These include not only the threat of IP hijacks, latency challenges, and frequent trouble tickets but also susceptibility to data breaches, security vulnerabilities, and potential performance bottlenecks.

 In conclusion, Microsoft Azure Peering Service is driving innovation in cloud connectivity by providing businesses with a Scalable, Reliable, and Secure solution to optimise their connectivity to Microsoft Cloud Services. With its advanced routing capabilities, enhanced security features, and seamless integration with other Microsoft networking services, Azure Peering Service is helping organisations unlock the full potential of the cloud and stay ahead in today’s digital economy.

Fintech Xalts creates ‘Plaid for trade’ as it acquires Contour Network

21th February 2024; Accel and Citi Ventures-backed fintech Xalts, which is used by financial institutions and businesses to build and manage digital finance applications, has today announced its acquisition of Contour Network, owned by a consortium of global banks, to accelerate digitisation in trade and supply chain finance.

Contour started in 2017 as a pilot by eight global banks including HSBC, Standard Chartered and BNP with a focus to digitize trade. Currently, over 22 banks and 100+ global businesses like Tata Group and Rio Tinto use Contour for digital trade finance solutions.

Xalts, which is used by institutions to build multi-party applications for digitisation and tokenization, plans to leverage Contour’s industry standard workflows and integrations to facilitate communication and transactions between businesses and financial institutions in the network.

In 2023, global trade reached over $30 trillion. However, according to QED Investors, the digitization of global trade remains relatively minuscule, with less than 1% currently conducted digitally. Due to the complexities and different regulations involved in cross-border trade, a single transaction may require up to 50 sheets of paper that are exchanged with up to 30 different stakeholders including importers, exporters, banks, logistics companies and customs.

As global trade goes from strength to strength and traditional supply chains reorganize, Xalts is taking inspiration from Silicon Valley startups like Plaid and Stripe to accelerate digitisation in trade & supply chain finance. Ashutosh Goel, CEO of Xalts commented: “We want to create a Plaid for Trade. Our vision is to expand the scope of Contour’s network which is trusted by banks and corporates, and build it into a rail that enables businesses to access digital solutions for trade and supply chain finance offered by banks, fintechs and technology partners. Combining our platform with Contour’s Network will allow participants to develop and deploy customized solutions quickly”.

The initial focus for Xalts will be on embedded solutions for trade and supply chain finance. These will enable banks, logistics companies and technology companies to offer integrated solutions to businesses, using a single platform.

Many global and regional banks have been making a push for deeper integrations with their clients and global platforms. In 2023, HSBC had announced a JV with Tradeshift to create embedded finance applications. “Our platform also enables institutions to build new innovative applications and products by leveraging blockchain and tokenization. We partner with leading blockchains and integrate with multiple infrastructure providers to help our clients build tokenization applications.” said Supreet Kaur, COO of Xalts. “Contour will also enable network members to work with us to launch applications in this space”.

Xalts was founded in 2022 by Ashutosh Goel and Supreet Kaur, former senior executives at HSBC and Meta. Currently with a team of over 50 across offices in Singapore, Hong Kong, India, UAE and UK, Xalts counts large financial institutions, regulatory bodies and technology companies as its clients.

Abhinav Chaturvedi, Partner, Accel added: “Accel has backed innovative companies globally in this space. Xalts has demonstrated that they have the right vision and a team that can execute at a global scale very quickly.”

“Citi has long been a leader in driving innovation in financial services. We invested in Contour in 2020 and led the seed round for Xalts in 2022. The combination of these two companies into one firm with an expanded vision and a great leadership team will accelerate innovation in global trade finance.”, said Everett Leonidas, Director, Citi Ventures.

Carl Wegner, who was the CEO of Contour Network prior to this acquisition is expected to take a senior leadership role at Xalts. “I am really proud of what Contour has been able to accomplish in such a short time. The vision that Xalts has for Contour’s future turbocharges its strengths and addresses key client needs.”
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