MAM
Dentsu Ventures invests in US ‘cloud-first’ smartphone development startup
MUMBAI: Dentsu Ventures Global Fund I has made an investment in San Francisco based Nexbit Systems Inc, a startup developing cloud-integrated services for smart devices from both the hardware and software perspectives.
Nextbit is the third company in which Dentsu Ventures has invested since its launch in April 2015.
The company was established with the objectives of investing in ambitious start-up companies that will create an as yet unseen future and furthering open innovation across the Dentsu Group through collaboration with investees. In addition to funding, Dentsu Ventures will support businesses and entrepreneurs by providing problem-solving solutions and resources that are unique to the Group.
On 1 September, Nextbit launched Robin, a “cloud-first” smartphone that enables synchronized cloud storage of music, videos, apps, photos and other high-volume data without any user action required. The crowdfunding campaign for the Robin smartphone was launched the same day, and the US$500,000 goal was reached within a matter of hours. Nextbit is pushing mobile computing forward with the introduction of innovative software and hardware that solves important user problems such as running out of local storage space on smart devices.
As smart devices continue to diversify, Dentsu Ventures believes that real-time data integration and linking across devices together with the development and provision of unprecedented user experiences that optimise this capability will become increasingly important. Nextbit’s innovative technology will offer smart device users an entirely new type of cloud service in this Internet of Things era.
Looking ahead, the Dentsu Group will provide support for the spread of the Robin smartphone worldwide as well as the other new businesses that Nextbit will develop in the future.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
