Amazon Expands in India While Spendesk and Informatica Back AI Startups
Amazon opens a massive new campus in Hyderabad to compete with Walmart in India's growing e-commerce market. Meanwhile, Spendesk raises $38 million for spend management and Informatica invests in AI startup GreenBay Technologies.
Amazon opens a massive 9.5-acre campus in Hyderabad, India, marking its largest office building globally as it battles Walmart for dominance in the region. This centerpiece investment targets a rapidly growing e-commerce market that analysts predict will reach $100 billion by 2022. Walmart strengthens its own position through its 2018 acquisition of domestic powerhouse Flipkart.
Informatica backs GreenBay Technologies, an AI and machine learning startup focused on automating complex data management tasks. The undisclosed investment supports the development of AI innovations for Informatica's CLAIRE engine and its Intelligent Data Platform. GreenBay originated from the University of Wisconsin at Madison, where co-founder Dr. AnHai Doan leads computer science data management research.
Paris-based fintech startup Spendesk raises $38 million in a Series B funding round to transform how businesses manage workplace spending. The company provides spend management software that gives companies better control over their financial operations. This new capital allows Spendesk to further develop its platform and expand its market presence.