NEW DELHI, July 17:  Country’s fifth largest software services firm Tech Mahindra has inked a pact with US-based Wichita State University (WSU) to collaborate in the areas of aerospace engineering, certification, information technology and automotive testing.
Tech Mahindra will collaborate with WSU and its National Institute for Aviation Research (NIAR), the largest academic aviation R&D institution in the US, on multiple areas of engineering including composites, advanced materials and structural testing, it said in a statement.
“I strongly believe that this synergy can help reach the next level of solution offerings to our marquee customers addressing their custom needs and industry specific requirements in the areas of certification and testing,” Tech Mahindra Head of Americas (Aerospace and Defence) Krishna Balasubramaniam said.
The Indian IT firm plans to invest in equipping the engineering talent available in the region to enhance their employment opportunities in the Wichita aerospace community.
“This investment will enable Tech Mahindra to provide end-to-end solutions from design, to testing and certification for global aerospace and automotive customers and prospects in the region,” it said.
Apart from creating a local pool of trained aerospace, IT and automotive engineers, the partnership will also facilitate cooperative initiatives in the area of innovation and R&D projects, including possible involvement with WSU’s Innovation Campus.
The partnership will also enable WSU to further expand its footprint into the automotive industry and provide its students an opportunity to develop industry skills through involvement in Tech Mahindra’s research and testing projects.
“WSU will get firmly connected to the automotive and industrial sector, allowing students to gain real-world engineering skills in a unique sector,” WSU VP (Research and Technology Transfer) John Tomblin said. (PTI)

NEW DELHI, July 17:  IT firm Capillary Technologies has raised USD 14 million (over Rs 84 crore) in a second round of funding, led by Sequoia Capital and Norwest Venture Partners (NVP).
The Bangalore-headquartered firm offers cloud-based software solutions, helping retailers manage their customer data, gain insights and personalise engagement across social media, mobile, e-mail, online and in-store channels, driving growth in sales and loyalty.
The new investment adds to the USD 17 million of Series A funding it received in 2012 and provides a sizable balance to fund continued growth, Capillary said in a statement today.
In February this year, American Express Ventures, venture capital arm of one of the world’s biggest credit card firms, had also made a strategic investment in Capillary.
The company also counts Qualcomm Ventures as one of its investors.
The funding will be used to enhance Capillary’s cloud- based integrated marketing platform and grow its partnership ecosystem, which already includes Blue Label Engage in South Africa and the American Express US Global Merchants Services group, it added.
“Continued funding by both Sequoia and NVP is a vote of confidence in our vision and continued traction in the marketplace. Retailers realise a 15 per cent increase in average basket value and 30 per cent increase in their customer retention rate by implementing our solutions, which is the reason we continue to grow so rapidly around the world,” Capillary Technologies co-founder and CEO Aneesh Reddy said.
Along with the funding announcement, the company said it has also added a new partner Agilysys.
Agilysys is a developer and marketer of proprietary enterprise software, services and solutions to the hospitality industry and operates in North America, Europe and Asia.
“We are excited to have them on board and our partnership will allow us to bring innovative solutions to companies of all sizes in the hospitality industry,” Capillary Technologies Vice President (APAC) Anant Choubey said.
Its new customers include Marks & Spencer, KFC, Lacoste, Keedo and Courts. Its platform powers more than 150 major brands across 10,000 retail locations to consumers across the US, the UK, Middle East, South Africa and the Asia-Pacific region. (PTI)

NEW DELHI, July 17:  Gold futures prices today rose by 0.48 per cent to Rs 27,771 per 10 grams as speculators enlarged positions after the metal gained in the global market.
At the Multi Commodity Exchange, metal prices for delivery in far-month October gained Rs 134, or 0.48 per cent, to trade higher at Rs 27,771 per 10 gram in a turnover of 43 lots.
Similarly, the metal prices for delivery in August edged up by Rs 114, or 0.41 per cent, to Rs 27,790 per 10 gram, clocking a business volume of 672 lots.
Analysts attributed gains in the precious metal at futures trade to a firming trend in the overseas markets amid signs of increased demand in China and India, the world’s two largest consumers.
Globally, gold rose to USD 1,301.86 an ounce in Singapore from USD 1,299.21 yesterday. (PTI)

NEW DELHI, July 17:  Tracking a rising trend in global markets, silver futures prices today rose by 0.63 per cent to Rs 45,730 per kg as speculators built fresh positions amid covering-up of short positions.
At the Multi Commodity Exchange, silver for delivery in far-month December traded higher by Rs 285, or 0.63 per cent, to Rs 45,730 per kg in business turnover of eight lots.
On similar lines, the white metal for delivery in September traded Rs 277, or 0.60 per cent, higher at Rs 44,844 per kg in a turnover of 681 lots.
In the international market, silver traded higher at USD 20.79 an ounce in Singapore from USD 20.76 yesterday.
Market analysts said besides covering up of short positions by speculators, a firming trend in the precious metals in the global market, supported the upside in silver futures here. (PTI)