ITV

Category: Marketing

  • Top 2024 Dhanteras Deals: Amazing Discounts on Smartphones, Laptops, and More!

    Top 2024 Dhanteras Deals: Amazing Discounts on Smartphones, Laptops, and More!

    The auspicious occasion of Dhanteras marks the beginning of Diwali. With the festive cheer right around the corner, this is the perfect time to upgrade to a new smartphone or purchase one for your loved ones. Dhanteras offers from Bajaj Finserv bring you unbeatable savings on a wide range of top-of-the-line products like smartphones, laptops, and more. With amazing discounts on personal gadgets and essential home appliances, you can celebrate the auspicious occasion of Dhanteras with affordably-priced, high-quality products. To make your purchase affordable, shop on Easy EMIs on the Bajaj Finserv EMI Network.

    This Dhanteras, you can enjoy exclusive offers and discounts on best-selling smartphones . You can enjoy discounts of up to 20% on the latest smartphones by shopping on the Bajaj Finserv EMI Network. Whether you’re looking to purchase a budget handset or a premium one, you can make the purchase feel ultra-light on your pockets with Easy EMIs starting from just Rs. 833! Moreover, you can enjoy massive savings on devices from top brands, including Samsung, OnePlus, vivo, OPPO, Xiaomi, and Apple. If you prefer Android models, you can choose from best-selling options like the Samsung Galaxy Z Fold 3 and Samsung Galaxy S21 FE. Alternatively, if you plan on purchasing an Apple smartphone, you can choose from options like iPhone 13 and iPhone SE.

    Enticing festive deals also extend to the latest laptops. You can score discounts of up to 60% on best-selling laptops as a part of the ongoing Dhanteras offers. The roster of models on discount is extensive, covering all top-selling brands like Lenovo, Dell, and HP. From budget-friendly Intel i3 student laptops to high-performing AMD Ryzen 5 gaming models, you can choose the ideal match from an extensive array of options with Easy EMIs starting from Rs. 2,321. So, if you’re due for an upgrade, you should seize these festive sale offers to upgrade to a new laptop without breaking the bank.

    The festive discounts do not end there. You can tap into amazing discounts and Easy EMI perks on a range of electronics, including air conditioners, refrigerators, air coolers, and washing machines. The Dhanteras Sale is live throughout October, allowing you to conveniently spread the cost of your big-ticket purchase into bite-sized EMIs across a flexible duration. Apart from hefty festive discounts, Bajaj Finserv EMI Network makes your purchase even more affordable with zero down payment benefits, cashback offers, and free home delivery perks on select models.

    Benefits of shopping with Bajaj Finserv

    1. Competitive prices: Enjoy great value for money with competitively priced products at any of the Bajaj Finserv’s partner stores.

    2.  Easy EMIs: Purchasing your desired product is simple with Easy EMI options, allowing you to choose a repayment tenure that suits your budget.

    3.  Zero down payment: For select products, benefit from zero down payment option, eliminating the need for upfront payment at purchase.

    4.  Options and accessibility: Choose from a wide variety of products available at Bajaj Finserv partner stores across multiple cities, offering unmatched convenience.

    You can opt for Bajaj Finserv’s financing options including Easy EMI and zero down payment schemes for financial ease and convenience. Break the cost into Easy EMI to enjoy a hassle-free shopping experience.

    *Terms and Conditions Apply

    Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 69.14 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BB+/Positive and a short-term rating of B by S&P Global ratings.

    To know more, visit http://www.bajajfinserv.in   
     

  • Wrangler partners with SOCIAL for a nationwide live music series

    Wrangler partners with SOCIAL for a nationwide live music series

    Mumbai: Wrangler, the iconic global denim brand, has teamed up with SOCIAL, India’s popular urban hangout destination, to launch a series of co-branded musical events across six major cities in India. Running from October to December 2024, the events will bring together top local rap and hip-hop artists to deliver electrifying performances, creating an immersive and energetic experience that embodies the adventurous and creative spirit of both brands.  

    The partnership aims to boost brand visibility, merging Wrangler’s rugged identity with SOCIAL’s urban vibe. Each event promises dynamic brand activations, live music, and exclusive co-branded merchandise that will resonate with young consumers seeking authentic cultural experiences. The events will feature interactive elements, such as game tables, photo booths, and immersive LED displays that reflect Wrangler’s adventurous ethos.  

    The exclusive licensee of Wrangler in India, ace turtle CEO, Nitin Chhabra expressed his enthusiasm: “At Wrangler, we always strive to connect with our consumers in new, authentic ways. Partnering with Social was a natural fit, as both brands resonate strongly with India’s youth. This collaboration blends fashion, music, and culture in a way that reflects the energy of our audience and reinforces Wrangler’s iconic status.”

    Impresario Entertainment & Hospitality Pvt Ltd, chief growth officer, Divya Aggarwal added, “At SOCIAL, we craft immersive experiences through brand partnerships that bring our communities closer together. Our collaboration with Wrangler fuses music, fashion, and culture in a way that truly resonates with our audience. Together, we’re bringing to life the adventurous spirit and urban creativity both brands stand for.”

    The series kicked off at Chandigarh SOCIAL on 18 October and will continue at Saket SOCIAL, Delhi on 27 October. Upcoming events will be held at antiSOCIAL, Mumbai on 16 November, FC Road SOCIAL, Pune on 29 November, Koramangala SOCIAL, Bengaluru on 1 December, and conclude at Mindspace SOCIAL, Hyderabad on 14 December.  

    Collective Artists Network co-founder & chief revenue officer, Sudeep Subash noted, “We’re excited to partner with Wrangler and Social to curate a series of vibrant events that seamlessly blend fashion, music, and cultural expression. Together, we aim to craft moments that inspire and connect communities through shared passion and creativity.”

    The events will not only showcase live music but will also offer adventure-themed storyboards, exclusive branded menu items, and opportunities to win gift vouchers, deepening attendees’ connection to Wrangler’s bold lifestyle.

  • Ofis Square signs Shraddha Kapoor as brand ambassador

    Ofis Square signs Shraddha Kapoor as brand ambassador

    Mumbai: Ofis Square, an Indian coworking and managed workspace solutions provider, has partnered with actor Shraddha Kapoor, as the first-ever celebrity brand ambassador in the coworking industry.

    With the tagline ‘Future Works Here’, Ofis Square introduces a Bollywood celebrity as its brand ambassador in the flexible workspace sector, potentially redefining how flexible workspaces in India are perceived and marketed.

    Speaking on this occasion, philanthropist, humanitarian and Ofis Square’s promoter, Saroj Mittal expressed enthusiasm for the partnership, saying, “We are thrilled to welcome Shraddha Kapoor to the Ofis Square community! Her journey as an accomplished actress and influential personality resonates with the spirit of innovation that defines Ofis Square.”

    “While celebrities have traditionally endorsed commercial and glamorous industries, we aim to break stereotypes and bring coworking into the mainstream through this partnership. With her support, we aim to deepen our market reach, empowering India’s entrepreneurs and startups as we establish our brand as a frontrunner in this fast-evolving workspace industry,” added Mittal.

    Kapoor stated, “I am thrilled and proud to represent Ofis Square, one of India’s most vibrant workspaces. As an artist myself, it is indeed inspiring to see how Ofis Square stands out as a place where creators and entrepreneurs can truly thrive with access to spaces designed to inspire and empower.” She added, “I hope I can bring my energy and passion to this brand. Together, we aim to set a new benchmark for India’s ambitious business community.”

    The flexible workspace provider aims to redefine coworking, marking a shift in the sector and highlighting Ofis Square’s vision for the future of work. Ofis Square also plans an aggressive expansion, aiming to introduce 10 million square feet of workspace across India in the coming years.

    As India’s economy grows, it will be interesting to see how Ofis Square, with Shraddha Kapoor as its new brand face, advances in the coworking sector. This collaboration is expected to bring renewed energy to the market.

  • Consumer sentiment surges in October amid festival cheer: LSEG-Ipsos PCSI India

    Consumer sentiment surges in October amid festival cheer: LSEG-Ipsos PCSI India

    Mumbai: Consumer sentiment of urban Indians has displayed a major resurgence of +4.3 percentage points in October amid festival cheer and above normal monsoons, according to the monthly LSEG-Ipsos Primary Consumer Sentiment Index (PCSI) India report. Last month consumer sentiment had shown a minor uptick of of +0.4 percentage points and prior to that in August was down -2.9 percentage points.

    The LSEG-Ipsos PCSI maps consumer sentiment on four sub indices and interestingly, all four have shown improvement – the PCSI current personal financial conditions sub index (current conditions) is up +7.7 percentage points; the PCSI economic expectations (“expectations”) sub-index is up +3.3 percentage points; the PCSI investment climate (“investment”) sub-index is up +7.1 percentage points and sentiment for the PCSI employment confidence (“jobs”) sub-index, has seen a minor surge of +0.3 percentage points

    Ipsos India CEO Amit Adarkar said, “Consumer sentiment has phenomenally improved for personal finances – for day-to-day household expenditure – and investments – making it conducive for customers to save and invest in big ticket purchases, in the festival season, particularly, when marketers are doling out promotional schemes and easy financing. Confidence around the economy is seeing a major rebound, riding on good monsoons and boosted by growth in infrastructure and domestic consumption. Even the IMF has pegged the economic growth of India at 7% for 2024. Confidence around jobs was up but somewhat sluggish as hiring is slow with companies focusing on closing a robust H2, after a tough H1, due to the elections, heat wave, heavy rains and its collateral impact. Automotive sector grew by a miniscule 0.5 per cent April to September. The festival season has seen a major upturn in consumption bringing much cheer to marketers.”

    Overall Consumer Confidence

    Consumer sentiment in 29 countries

    Among the 29 countries, India (66.3) now holds the highest National Index score. India and Indonesia (62.1) are the only countries with a National Index score of 60 or higher.

    Ten other countries now show a National Index above the 50-point mark: Singapore (58.3), Malaysia (58.2), Thailand (56.8), the U.S. (55.6), Sweden (55.4), Mexico (53.8), Brazil (53.4), the Netherlands (52.1), South Africa (51.4), and Great Britain (50.7).

    Consumer sentiment in 29 countries

    In contrast, just three countries show a National Index below the 40-point mark: Japan (39.3), Hungary (35.3), and Türkiye (33.0).

    Compared to 12 months ago, just three countries show a significant drop in consumer sentiment. In contrast, thirteen countries show a significant increase from October 2023, most of all in Malaysia (+12.1).

  • JSW Energy reports resilient Q2 FY25 results amid economic challenges

    JSW Energy reports resilient Q2 FY25 results amid economic challenges

    Mumbai: In a year marked by economic challenges and shifting global energy priorities, JSW Energy continues its steady performance, navigating volatility with a balanced mix of innovation, sustainability, and expansion. The company’s Q2 FY25 results underscore a nuanced position: while overall revenue reflects a modest decline, strategic initiatives in renewable energy and infrastructure lay the groundwork for long-term growth.

    In Q2 FY25, JSW Energy’s revenue from operations stood at Rs 3,237.66 crore, a slight decrease from the Rs 3,259.42 crore recorded during the same quarter last year. Although consolidated EBITDA dipped by 5 per cent YoY to Rs 1,907 crore, underlying EBITDA grew by 4 per cent, driven by increased energy generation across its thermal, wind, and hydro assets. Net Profit After Tax (PAT) grew to Rs 853 crore, marking a small but steady YoY increase, underpinned by an uptick in operational efficiency and an optimised debt position, with a net debt-to-equity ratio of 0.9x and net debt-to-EBITDA (excluding CWIP) at 2.2x.

    The company’s energy generation surged by 14 per cent YoY to 9.8 billion units (BUs), a growth attributed to the commissioning of 204 MW in wind projects and enhanced generation from both its thermal and hydroelectric assets. Total renewable energy (RE) generation rose by 14 per cent, hitting 5 BUs. Notably, wind generation surged by 37 per cent YoY, while hydro saw a 5 per cent increase. Thermal energy, despite broader industry challenges, remained resilient, contributing an impressive 4.8 BUs—an increase of 14 per cent YoY.

    JSW Energy’s commitment to environmental and social governance (ESG) is also noteworthy. The company received an ‘A’ rating from MSCI for its ESG practices and achieved a leadership score of “A-” for climate-related transparency from CDP. In addition, the company secured an all-time high score of 77/100 in S&P’s Global DJSI-ESG rating, underscoring its dedication to ethical and sustainable practices within the energy sector.

    As JSW Energy transitions toward a low-carbon energy future, its strategic focus remains steadfast on renewable energy expansion. The company’s cumulative RE generation capacity now stands at 19.2 GW, supported by significant new PPA signings for RE projects totaling 3.8 GW in Q2 FY25. Key projects include the nearly commissioned 454 MW SECI X Wind Project and new infrastructure projects in green hydrogen and battery energy storage. By March 2025, a 3,800 TPA hydrogen plant is anticipated to be operational, supplementing JSW’s green hydrogen agreements with JSW Steel, while a 1.0 GWh BESS project is slated for completion by June 2025.

    JSW Energy’s Q2 FY25 results present a complex yet promising outlook. Amid immediate financial challenges, the company’s strategic alignment with India’s renewable energy goals and commitment to ESG underscore a forward-thinking approach. With substantial growth in renewable capacity and promising new ventures, JSW Energy is positioning itself not only as a leader in India’s energy transition but as a globally responsible energy player.

  • Bharat Electronics achieves 39 per cent profit growth in H1 FY25

    Bharat Electronics achieves 39 per cent profit growth in H1 FY25

    Mumbai: Bharat Electronics Limited (BEL), India’s Navratna defense PSU, continues its growth trajectory, reporting robust results for the first half of FY25. A strategic focus on defense innovations has pushed BEL’s performance to new heights, with a substantial increase in profit and a healthy order book. BEL’s success mirrors the ongoing demand for advanced defense technologies in India’s evolving security landscape.

    In the first half of FY25, BEL reported a turnover of Rs 8,530.43 crore, a 15.83 per cent increase over the Rs 7,364.82 crore recorded during the same period last year. This surge in revenue is credited to the rise in domestic defense spending and BEL’s execution of high-value contracts. A deeper dive into the second quarter reveals that BEL achieved a turnover of Rs  4,425.29 crore, up from Rs 3,918.13 crore in the previous year, reflecting a growth rate of over 12.9 per cent.

    Profit-wise, BEL saw a substantial increase, with its Profit Before Tax (PBT) for the first half of FY25 reaching Rs 2,488.22 crore, marking a 40.05 per cent growth from the Rs 1,776.69 crore reported last year. This robust growth in profitability underscores BEL’s strong market position and operational efficiency. The second quarter alone recorded a PBT of Rs 1,450.88 crore, a 35.3 per cent jump from the Rs 1,072.94 crore seen in Q2 FY24.

    Profit After Tax (PAT) similarly demonstrated impressive gains, with BEL posting Rs 1,867.41 crore for the first half of FY25, up by 39.03 per cent compared to Rs 1,343.18 crore in the corresponding period of the previous year. In Q2 FY25, PAT stood at Rs 1,091.27 crore, a notable increase from Rs 812.34 crore in the same quarter last year.

    Adding to this robust performance, BEL’s order book as of 1 October 2024, was valued at Rs 74,595 crore, affirming the company’s strong market position and promising future cash flows. BEL’s strategic push in research and development and its growing portfolio of defense technology solutions are key drivers of this solid order pipeline.

    With defense spending set to rise, BEL’s growth trajectory and financial resilience position it as a vital contributor to India’s self-reliant defense sector. The company’s performance in H1 FY25 exemplifies how strategic investments in technology and strong execution can yield significant returns.

  • ITC posts strong half-year performance with 11 per cent revenue growth

    ITC posts strong half-year performance with 11 per cent revenue growth

    Mumbai: In a period marked by economic challenges and shifting market dynamics, ITC Ltd has achieved a robust financial performance in the half-year ending September 2024, showcasing notable growth across its diverse business segments. With an 11.6 per cent year-on-year increase in gross revenue, ITC reached Rs 42,311 crore, up from Rs 37,910 crore in the same period last year, cementing its leadership in the FMCG sector and expanding its footprint in hospitality, agriculture, and packaging.

    The FMCG segment, particularly cigarettes, remains a pivotal component of ITC’s portfolio. Cigarette revenue for the six-month period reached Rs 16,095 crore, an increase of 6.4 per cent from last year. Cigarette segment profit grew to Rs 10,497 crore, reflecting strategic cost efficiencies despite ongoing regulatory pressures. Meanwhile, FMCG–others, which includes packaged foods, personal care products, and education stationery, grew to Rs 11,085 crore, representing a 6 per cent increase from the prior year.

    ITC’s hotels division experienced a significant recovery, with revenues rising to Rs 1,393 crore for the first half of FY2025—a 21 per cent increase compared to Rs 1,150 crore in the previous year. This rebound was fueled by higher occupancy rates and improved average room rates across ITC’s properties, especially in metropolitan cities.

    The Agri-business segment saw a remarkable revenue increase of 33 per cent year-on-year, reaching Rs 12,754 crore. The growth reflects increased demand for ITC’s agricultural products, including wheat, rice, and coffee, as well as the company’s efforts in optimising logistics and market penetration. Paperboards, Paper & Packaging contributed Rs 4,091 crore to total revenues, highlighting ITC’s strength in sustainable packaging solutions, though growth was more modest at 2.5 per cent.

    For the half-year, ITC’s profit before tax rose to Rs  13,305 crore, up by 8.6 per cent year-on-year. Net profit after tax stood at Rs 10,084 crore, marking a 7.8 per cent increase over the previous period’s Rs 9,283 crore. Operating profit margins were supported by cost containment and efficiency initiatives, alongside incremental gains in product mix.

    Cash flow from operations remained solid, with ITC generating Rs 7,963 crore in cash from operations after tax. This strong cash flow enabled the company to continue investing in brand building, capital expenditure, and acquisitions, solidifying its multi-business structure.

    In the latest quarter, ITC further diversified its portfolio by acquiring a 47.5 per cent stake in Sproutlife Foods Private Ltd. The acquisition underscores ITC’s commitment to expanding its footprint in health-focused foods, aligning with consumer trends towards health-conscious products. Additionally, ITC consolidated its holdings in EIH Limited, a prominent hospitality player, to 16.13 per cent, enhancing its position in the luxury hospitality market.

    ITC continues to lead in sustainability, with a focus on renewable energy, waste reduction, and water conservation. In its paper and packaging segment, ITC has invested in biodegradable solutions that meet both commercial and environmental goals. The company’s sustainability initiatives not only enhance its corporate image but also align with global and domestic regulatory shifts towards environmental accountability.

    While ITC’s recent performance highlights resilience and effective strategy execution, the company remains vigilant of regulatory changes, especially in the tobacco sector. ITC’s balanced portfolio and strong cash position provide a foundation to navigate potential challenges while investing in high-growth areas, such as digital and e-commerce.

  • TAM AdEx: FMCG ad volumes shift as print & TV decline, digital & radio grow in H1 2024

    TAM AdEx: FMCG ad volumes shift as print & TV decline, digital & radio grow in H1 2024

    Mumbai: The latest TAM AdEx report for January-June 2024 shows a six per cent decline in print ad space for the fast-moving consumer goods (FMCG) sector compared to the same period last year. January held the highest share of print ad space at 20 per cent, with March following closely at 18 per cent.

    Toilet soaps topped the print ad space with a 10 per cent share, while digestives held onto their leading position from the previous year. Spices, OTC products, vitamins, and health supplements also contributed notably to the ad space, highlighting FMCG’s focus on daily essentials and health-related items.

    Hindustan Unilever commanded an 18 per cent share of FMCG ad volumes in print, followed by SBS Biotech and GCMMF(Amul). New additions to the top advertiser list included Munimjee & Sons, Mankind Pharma, and Vicco Laboratories. Leading brands in the period were Dr. Ortho Oil, Pet Saffa Range, and Roop Mantra Ayur Face Cream, with the top 10 brands collectively contributing 16 per cent of the overall print ad space.

    The North Zone led regional ad distribution, capturing 38 per cent of the total FMCG print ad space, with the West, South, and East zones following. Delhi and Mumbai ranked as top cities for FMCG print ads, alongside regional leaders Kolkata and Bangalore. Sales promotions made up 22 per cent of ad space, with volume promotions holding 35 per cent and discount promotions at 29 per cent.

  • Weekend Unwind with Thermocool Home Appliances Ltd’s Rajeev kr Gupta

    Weekend Unwind with Thermocool Home Appliances Ltd’s Rajeev kr Gupta

    With another weekend upon us, it is time to unwind with the latest Q&A edition of Indiantelevision.com’s Weekend Unwind — a series of informal chats that peek into the minds of business executives through a fun lens in an attempt to get to know the person behind the title a little better.

    In this week’s session, we have Thermocool Home Appliances Ltd, MD, Rajeev kr Gupta.

    Without further ado, here it goes…

    Your mantra for life
    Health is the foundation of success

    A book you are currently reading or plan to read
    Gita and Planning for Ramayana

    Your fitness mantra, especially during the pandemic
    Jogging & Yoga Meditation

    Your comfort food
    Simple Dal उड़द दाल,  & Roti  Saags (Leafy greens)

    A quote or philosophy that keeps you going when the chips are down
    Thinking about the problem and his solution

    Your guilty pleasure
    Watching cricket, especially when the Men in Blue are playing

    The last time you tried something new
    Base jumping

    A life lesson you learned the hard way
    The rush of daily living is part of life and will be settled daily.

    What gets you excited about life?
    The problem of daily routine I enjoyed when I resolved it

    What’s on top of your bucket list?
    Family happiness & spending time with family

    If you could give one piece of advice to your younger self, what would it be?
    Resolve your problem on a daily basis & enjoy

    One thing you would most like to change about the world
    Educating everyone for a greener future

    An activity that keeps you motivated and charged during tough times
    Meditation & Thinking about the good times

    What lifts your spirits when life gets you down?
    Music listening

    Your go-to stress buster
    Music & Yoga

  • Storj Acquires PetaGene, Creator of Distributed Mount Client cunoFS, to Enhance Capabilities for AI and Data-Intensive Industries

    Storj Acquires PetaGene, Creator of Distributed Mount Client cunoFS, to Enhance Capabilities for AI and Data-Intensive Industries

    ATLANTA and CAMBRIDGE, England – Today Storj announces the acquisition of PetaGene, creator of cunoFS, to build on growth propelled by Storj’s recent acquisition of distributed GPU provider, Valdi. With today’s news, Storj now delivers distributed cloud object storage, distributed on-demand GPU compute, and distributed file storage mount. Together, these capabilities provide seamless access to the distributed cloud for video and AI workloads, enhancing performance, security, cost, and carbon savings to more customers at the edge and around the world.

    cunoFS was developed by PetaGene as a high-performance mount client, which is now poised to revolutionize cloud workflows for the data-heavy media and entertainment industry, and for users of all cloud platforms and object storage vendors. Adding to its Linux client, cunoFS launched a Windows-native client at IBC 2024, and its macOS-native client will launch later this year. PetaGene also provides secure, transparent, lossless compression to decrease the size of genomic data, reducing storage costs and data transfer times by 60% to 90% while giving faster access in the original file formats without a decompression step.

    PetaGene works with leaders in genomics and clinical research including the NHS in England and Wales, AstraZeneca, NVIDIA, CeGaT, Princess Máxima Center for Pediatric Oncology, the largest pediatric cancer center in Europe, and one of the top three children’s hospitals in the US. These data heavy arenas are ideally suited to benefit from this acquisition. Jacob Willoughby, Storj CTO, noted: “Storage is vital in AI training, and is seldom talked about. As models grow to include training on large amounts of image, video, and text, data grows significantly. The integration of cunoFS into our ecosystem marks a significant milestone in our goal to revolutionize cloud infrastructure for AI. cunoFS enables performant data loading with intelligent prediction of what will be needed in advance. By combining distributed storage and GPU with cunoFS’s high-performance file system, we’ve created an unparalleled platform for training and deploying large language models like LLaMA, GPT-4, and beyond.”

    Vaughan Wittorff, Co-Founder and CCO of PetaGene said, “Thanks to this acquisition, more customers in sports and news broadcasting, post production, VFX studios and ad agencies can get up and running faster with a drag-and-drop, plug-and-play approach to accessing the benefits of distributed cloud object storage all over the world. We have strong complementary expertise and relationships in AI, genomics and more, and in terms of growth and market leadership – the sky is the limit for us as part of Storj. PetaGene’s current customer base uses their products to help manage 100s of PB of scientific data, and we look forward to serving even more of their storage, compute, and file needs in the years to come.”

    This news brings the value of Storj to more users to set up and run projects even faster. cunoFS requires no additional configuration and doesn’t have a proprietary format that locks-in users like other file management systems. This democratizes data service, giving users more freedom, flexibility and speed.

    “On the heels of the expansion we experienced as a result of bringing Valdi into the fold, we knew cunoFS was another close partner that would deliver its full potential as a part of Storj,” said Colby Winegar, Storj Chief Revenue Officer. “cunoFS satisfies a painful unmet need, the team is extremely talented and cunoFS creates great synergy with Storj – especially in M&E. Their product is a perfect solution for those who want fast, file system-based cloud storage. This acquisition also accelerates our joint efforts to advance and simplify AI learning and inference when utilizing our on-demand GPUs.”

    Storj and cunoFS already work with joint customers including Cambridge University / DiRAC, and partners including Cambridge Computer, CineSys LLC and Tyrell. Brent Angle, CTO of media and broadcast systems integrator CineSys said, “cunoFS delivers highly responsive and POSIX compliant file system access to content on cloud or on-prem object storage platforms, without changing the data format. Combining cunoFS and Storj, creative professionals can access content in an instant, knowing it is protected in a non-proprietary format on the resilient, scalable and cost effective Storj platform. This is an extremely powerful joint solution already, and we look forward to the innovation their teams will bring to the market as a united entity.”

    PetaGene will continue to operate as a wholly owned subsidiary of Storj, and all current PetaGene employees will continue on as employees. PetaGene and Storj will continue to support all current PetaGene products and customers, and cunoFS will continue to be available for users of all object storage vendors and cloud platforms.