Physics Wallah (PW) secures USD 210 Million in Series B funding round at a valuation of USD 2.8 Billion
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Physics Wallah (PW) secures USD 210 Million in Series B funding round at a valuation of USD 2.8 Billion

India, September 20’ 2024 – Physics Wallah Private Limited (PW), India’s leading education company, has closed its Series B funding round, raising USD 210 million. This investment brings the company’s post-money valuation to an impressive USD 2.8 billion, 2.5x jump over its last valuation of USD 1.1 billion. The funding round was led by Hornbill Capital, with significant participation from Lightspeed Venture Partners, alongside the continued support of its existing investors, GSV and WestBridge.

 Physics Wallah’s funding round serves as a beacon of optimism amidst challenging times for the EdTech sector, showcasing the unwavering confidence of both existing and new investors in Physics Wallah’s growth and its mission to democratize education across India. The remarkable interest from both new and existing investors underscores the strong belief in PW’s ability to deliver quality education to Bharat’s next generation.

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 Alakh Pandey, Founder and CEO of Physics Wallah, expressed his gratitude, stating, “This investment is not just a validation of our efforts to democratize education and make quality education accessible to every student in India, but also a testament to the impact we have created over the years. Prateek and I are excited to partner with Hornbill Capital and Lightspeed Venture Partners in this journey, and we deeply appreciate the continued trust from WestBridge and GSV.”

 Prateek Maheshwari, Co-founder of Physics Wallah, added, “Our focus has always been on creating value for our students and ensuring their success. This new round of funding will enable us to expand our reach, enhance our technological capabilities, and continue delivering unparalleled learning experiences. This comes on the back of strong sustainable y-o-y growth – in fact FY25 is going to be the year of largest absolute EBIDTA profitability for the PW Group. There are no good or bad markets but only good or bad stories – and ours is a great impact story!”

 Physics Wallah produces 9,500 hours of educational content every week with a student base across 18,808 pin codes, accounting for almost 98% of pin codes in India. This funding will bolster its already significant cash reserves to support its future growth plans. PW’s expansion from school education to skilling is integral to the strategic vision, designed to support students at every stage of their journey and solidify its role as a trusted, comprehensive partner in education and career advancement.

 The funds raised will be strategically utilized to scale operations, with a key focus on consolidation in the education market. Physics Wallah plans to pursue inorganic expansion, enter the K-12 formal education segment, enhance its content and publication offerings, and explore mergers with community-driven education platforms across categories. As PW moves forward, it remains steadfast in its commitment to empowering students and helping them achieve their academic aspirations through these strategic initiatives.

Assotech and SANPRIYA Group Launch Team Konark Suryas, Transforming Odisha’s Sports Scene in Legends League Cricket T20
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Assotech and SANPRIYA Group Launch Team Konark Suryas, Transforming Odisha’s Sports Scene in Legends League Cricket T20

India – September 20, 2024 – In a landmark development for Odisha, Assotech Group, a leader in real estate innovation, and SANPRIYA Group, a visionary in diversified lifestyle sectors, have united to make a significant impact on the state’s sports ecosystem. Together, they proudly announce the launch of Team Konark Suryas Odisha in the Legends League Cricket (LLC) T-20, underscoring their commitment to fostering local talent and elevating the sporting culture in Odisha.

The new T-20 franchise, Team Konark Suryas, named in honor of the iconic Konark Sun Temple, represents a fusion of Assotech’s expertise in real estate and SANPRIYA’s passion for lifestyle enhancement. This initiative is set to transform the state into a prominent hub for high-profile cricket events. The team, captained by Indian cricket star Irfan Pathan, includes a roster of international talents such as Ross Taylor, Kevin O’Brien, and Dilshan Munaweera, promising thrilling matches and a boost to Odisha’s sports infrastructure.

The official launch event in Bhubaneswar was graced by Sanjay Behera, Secretary of the Odisha Cricket Association (OCA), who emphasized the importance of this development for the region. “The debut of Team Konark Suryas Odisha signifies a new chapter for Odisha, enhancing our sports facilities and providing exciting opportunities for our youth,” Behera stated.

Sanjeev Srivastva, Chairman & Founder of SANPRIYA Group, expressed enthusiasm for the collaboration “We are excited to bring Team Konark Suryas Odisha to life and are committed to developing a Multi Sports Centre of Excellence in Bhubaneswar. This initiative reflects our dedication to nurturing young talent and contributing to the state’s overall growth.”

Enakshi Priyam, Chief Operating Officer of Assotech Group, highlighted the synergy between Assotech and SANPRIYA’s objectives “Our partnership in launching Team Konark Suryas Odisha is a testament to our shared vision of enhancing community engagement through sports. This effort aligns with Assotech’s mission to drive innovation and support vibrant local development.”

SANPRIYA Group, under the leadership of Mr. Sanjeev Srivastva, integrates lifestyle and real estate advancements, making significant contributions to the broader sports and infrastructure landscape. The collaboration with Assotech Group is a prime example of how combining expertise across sectors can lead to groundbreaking developments.

NK Proteins to Support 20,000 Castor Farmers with High-Quality Seeds and Organic Fertiliser
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NK Proteins to Support 20,000 Castor Farmers with High-Quality Seeds and Organic Fertiliser

Ahmedabad, September 20: NK Proteins announced on Friday that it will support 20,000 castor farmers in Gujarat by providing high-quality seeds and organic fertiliser. This initiative aims to enhance both yield and profitability in castor farming, a critical crop for various districts in Gujarat. By offering superior inputs, NK Proteins is committed to empowering farmers and promoting sustainable agricultural practices.

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As part of this initiative, farmers will receive Castor De-Oiled Cake (DOC) and High-Protein DOC, which are derived from castor oil production and can be used as organic fertilisers. The company also plans to provide Liquid Fermented Organic Manure (LFOM) to farmers. Castor DOC and LFOM improves soil structure, increases water retention, and promotes microbial activity, essential for maintaining long-term soil fertility. It also reduces soil erosion and enhances the physical, chemical, and biological properties of the soil, leading to better crop yields and quality. The high-protein DOC, rich in nutrients, further boosts plant health and farm productivity.

“We are dedicated to helping castor farmers achieve higher yields and improve profitability by providing high-quality seeds and organic fertiliser. Enhancing soil health and giving farmers access to better resources will significantly boost both productivity and income. Our long-term goal is to promote self-reliance in Gujarat’s agricultural community and strengthen the broader agri-ecosystem,” said Dr. Bharat Patel, spokesperson for NK Proteins for this initiative, on the sidelines of the Agri Asia 2024 organised in Gandhinagar.

NK Proteins, a leader in the castor oil industry, operates with an installed crushing capacity of 1,200-1,500 metric tons (MT) per day, producing around 600 MT of Castor DOC daily, of which 30% is high-protein DOC. These derivatives are integral to NK Proteins’ mission of fostering sustainable farming practices across Gujarat. As of now, DOC is exported to South Korea, China and European countries.

Gujarat is India’s largest castor producer. In 2023-24, the total castor seed acreage in Gujarat reached 7.24 lakh hectares, up from 7.14 lakh hectares in 2022-23—an increase of 1.4%. Production also rose from 15.7 lakh metric tons (MT) in 2022-23 to 16 lakh MT in 2023-24, with yield improving from 2,196 kg per hectare to 2,206 kg per hectare.

Vedanta Sesa Goa Embarks on Mission to Provide MealsForAll
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Vedanta Sesa Goa Embarks on Mission to Provide MealsForAll

Panjim, Goa: As part of the Vedanta Delhi Half Marathon (VDHM) 2024, Vedanta Sesa Goa organized a flag-off event at their Head Office in Panjim, witnessing enthusiastic participation from employees, workmen, and business partners who undertook a walk in Panjim to spread the message of #MealsForAll, setting the tone for this year’s significant social impact campaign.

Vedanta Half Marathon

 This is the third edition of the VDHM and in the previous edition, as part of the #RunForZeroHunger, Vedanta Group had set a target of contributing 2 million meals and surpassed it by garnering over 4.7 million meals. This year, the VDHM returns with an even greater commitment to social good, aiming to provide 10 million meals. The campaign is so designed that once registered on the ‘Step,Set,Go’ app, one meal will be contributed for every kilometre logged, which will in turn be provided to children in need or for supporting community members and animals.

 Speaking on the occasion, Navin Jaju, CEO, Sesa Goa, said “The Vedanta Delhi Half Marathon (VDHM) has become a powerful movement that embodies Vedanta’s core value of ‘Giving Back’. #RunForZeroHunger initiative provides the ‘Vedanta Sesa Goa Family’ the opportunity to transform our footsteps into lifelines & to make a real difference driven by purpose &compassion. This year, VDHM straddles the greater good of all beings – each kilometer we log will cater to meals for children & for animals in need. The aim of achieving #MealsForAll is about being the best we can be for those who rely on us.”

 The VDHM 2024 is set to culminate on October 20th, 2024, bringing together participants from over 19 Vedanta Group companies. The campaign has already gained momentum, with over 16000 thousand registrations already on the ‘Step,Set,Go’ app to contribute their steps toward this noble cause.

 Under the aegis of the Anil Agarwal Foundation, Vedanta Sesa Goa continues to lead in social impact, focusing on transforming communities through sustained efforts. The 2024 VDHM is poised to be a landmark event, reinforcing Vedanta’s commitment to the well-being of all living beings.

Credlix Goes Global: Launches in the US and Mexico
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Credlix Goes Global: Launches in the US and Mexico

Mumbai, September 20, 2024: Credlix, a leading global provider of supply chain financing, has announced its expansion into the USA and Mexico, backed by $50 million in funding from Moglix — Asia’s largest B2B e-commerce platform. This move aims to empower SMEs by providing fast, collateral-free financing solutions, addressing critical working capital challenges, and fostering […]

The post Credlix Goes Global: Launches in the US and Mexico first appeared on Business News Week.

Womeki Group Unveils its Prestigious Project ‘Eye of Goa’ at Sindhudurg, Maharashtra
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Womeki Group Unveils its Prestigious Project ‘Eye of Goa’ at Sindhudurg, Maharashtra

Sindhudurg, September 20, 2024: Womeki Group, a leading luxury real estate developer, announced the launch of its latest venture, “Eye of Goa”, a 350-crore residential development project situated along the pristine shores of Kalavi Beach in Sindhudurg, Maharashtra. Units in this high-end development are priced at ₹50 & 60 lakhs each, with a rate of ₹20,000 per square metre, which makes this an irresistible deal for homebuyers. The real estate player has also partnered with Terra Holding to ensure the highest construction standards. Once completed, this 78-acre exclusive development will offer a unique blend of luxury living and investment opportunities in one of the most picturesque regions of India’s Konkan coastline.

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Eye-of-Goa will be constructed in two phases, with only 35% of the land being developed, rest of the enormous site is set aside for open green spaces. These green areas will provide residents with serene environments for relaxation and a harmonious connection with nature. The premium housing project will feature spectacular villa apartments with spacious 250-square-meter living areas, and large residential plot sizes ranging from 250 to 300 square meters to meet the demands of buyers seeking luxury and a high return on investment (ROI). The pricing for plots starts at ₹50 lakhs for 250 square meters and goes up to ₹60 lakhs for 300 square meters.

Eye-of-Goa is designed to be a state-of-the-art development that blends contemporary architectural design with environmental stewardship. Emphasizing eco-friendly practices, it will incorporate green building materials, energy-efficient systems, and sustainable landscaping.

Commenting on the launch, Mr Gaurav K Singh, Founder & Managing Director, Womeki Group, said, “Eye of Goa will cater to aspirational home buyers seeking luxury and super-luxury living spaces for investment or personal use. The project is excellent for people seeking a luxurious lifestyle surrounded by nature’s splendour. We are confident that our association with Terra Holding will bring further value to the project, as they complement our concept of creating a sustainable and elegant living environment for an exceptionally amazing experience.”

He added, “Sindhudurg, a lush and stunning location, is a globally famous tourist destination, known for adventure sports like hiking, mountaineering, scuba diving, rock climbing, and valley crossing. Its proximity to Goa makes it an excellent choice for investors and homebuyers. With its seamless connectivity, pristine silver beaches, breathtaking views of majestic hills, forts, and unique flora and fauna, Sindhudurg offers everything a homebuyer could desire in a perfect destination. Moreover, upcoming government-backed infrastructure projects will further transform the region into a thriving hub for luxury living, while boosting property values. This makes it the best option for our premium project, and we are convinced it will generate considerable buyer and investor interest.”

D Y Patil International School, Worli Opens Doors to Global Education with DYPIS Career Fair 2024
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D Y Patil International School, Worli Opens Doors to Global Education with DYPIS Career Fair 2024

September , 2024, Mumbai: Bringing quality global education and amplifying career options exploration under one roof for aspiring students from India, D Y Patil International School, Worli, has announced its upcoming Career Fair 2024, set to be held on Saturday, 28th September 2024, from 9:00 AM to 2:00 PM at The St. Regis Hotel, Lower Parel, Mumbai.

The event provides students an exclusive platform to explore global educational opportunities bringing top-tier universities worldwide. With 60+ leading global universities from India, the UK, the USA, Canada, Australia, and Europe, etc., participating in the Career Fair 2024, the event will equip students with invaluable insights into an extensive assortment of academic programs like IGCSE, IBDP, IBCP, and A Levels, and further apprise them with essential information about both national and international study options.

A noteworthy highlight of the event is the specially curated keynote address titled “Shaping Young Minds Towards India’s Vision 2030,” which will feature Dr. Pratibha Jain, Founder of Eduabroad Consulting, and Ms. Ish Patil, Vice President, D Y Patil Group. This session will deep dive to help students understand how education will play a key role in shaping India’s future. Moreover, focused profile-building workshops at the event can help students craft strong college applications and learn about concrete career prospects that align with their aspirations. The event will also provide students with direct access to university personnels to seek tailored guidance for undergraduate and postgraduate programs, scholarships, accommodation and admission processes.

Students attending DYPIS Career Fair 2024 will have the opportunity to learn about a range of academic programs that help them with – getting close to their goals, decoding scholarship options, and participate in personalized career prospects’ workshops to help them craft a robust profile for top global universities. The fair is devised to cater to students on the lookout for both national and international educational opportunities, providing a wholesome experience for all visitors. The students also get a chance to explore the higher school education options after grade 10 (IGCSE/IBDP/IBCP/ A Levels).

Speaking about the event, Ms. Kinnari Shah, Head of School, D Y Patil International School, Worli, said, “At D Y Patil International School, we trust in equipping students by providing them with the necessary tools and growth drivers to help them steer close to their goals. The DYPIS Career Fair 2024 is devised to connect our students with the world’s leading universities and to provide them with invaluable insights and aegis for their upcoming educational journeys domestically and overseas.”

Finding the cause of Severe Combined Immunodeficiency (SCID) & Omen Syndrome
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Finding the cause of Severe Combined Immunodeficiency (SCID) & Omen Syndrome

A form of primary immune deficiency known as severe combined immunodeficiency affects lymphocytes, a type of white blood cell that helps the body fight infections and is particularly important for immunological memory. Because they don’t produce enough T cells, children with SCID are unable to fight off bacterial, viral, and occasionally fungal infections. Despite frequently seeming healthy at birth, infants with SCID can exhibit the disorder’s symptoms—such as bacterial infections, repeated respiratory infections, and failure to thrive—quite rapidly.

A closely related condition known as Omenn Syndrome results from the development of an extremely low number of T lymphocytes—not enough to effectively defend against infection, but enough to produce additional inflammatory issues like skin redness (erythroderma), peeling (desquamation), hair loss (alopecia), and spleen and liver swelling. These illnesses are lethal in infancy if prompt treatment is not received, such as stem cell transplantation to replace the compromised immune system. For this reason, several nations are testing newborns for severe T cell depletion.

The study, which was published in Science Immunology, involved specialists from Newcastle University, the Great North Children’s Hospital in Newcastle, the Wellcome Sanger Institute, and its partners in the Netherlands, Norway, and the United Kingdom. Eleven children from four distinct families were evaluated by the team; two of the children had SCID and the other nine had Omenn syndrome. The 11 children were all discovered to have hereditary mutations that interfered with the NUDCD3 protein’s ability to function. The T and B cells required to fight various infections were unable to mature normally as a result of these abnormalities.

The researchers demonstrated that NUDCD3 mutations impede a crucial gene-rearranging mechanism known as V(D)J recombination through in-depth analyses of patient-derived cells and mice models. The production of the many T cell receptors and antibodies required to identify and combat various infections depends on this mechanism. They discovered that, in contrast to mice created with the same NUDCD3 mutations, who had less severe immunological issues, human patients faced serious, perhaps fatal repercussions. The fact that two individuals recovered following stem cell transplantation highlights how crucial early detection and treatment are.

The lead author of the study, Professor Sophie Hambleton from Newcastle University, is pleased with the outcomes. She is also employed as a paediatric immunologist at the Great North Children’s Hospital. Devastating conditions like SCID and Omenn syndrome necessitate intricate and prompt medical interventions, according to Hambleton, “We can better care for impacted babies if we have a deeper understanding of its underlying causes. While we continue to learn more about how the immune system functions in both health and disease, our research aims to fill in the gaps so that families can obtain a molecular diagnosis.”

One of the study’s authors, Dr. Gosia Trynka, stated that early diagnosis can mean the difference between life and death for newborns with high-risk immunodeficiencies. These illnesses render babies virtually defenceless against infections that the majority of us can resist. The discovery of this novel illness gene will enable medical professionals to diagnose afflicted people with a new disease more rapidly and provide them with life-saving therapies.

The results of this study pave the way for early SCID and OS diagnosis, intervention, and genetic counselling for impacted families. While T cell deficiency can be identified by newborn screening techniques, understanding the precise genetic aetiology of SCID boosts diagnostic confidence and influences the selection of a curative treatment. But for at least one in ten families impacted by SCID and OS, this is still out of reach.

American Gambits Onboards 5C Network as Associate Sponsor Ahead of their Global Chess League 2024 Debut
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American Gambits Onboards 5C Network as Associate Sponsor Ahead of their Global Chess League 2024 Debut

New Delhi, September 20, 2024: Newest entrant to the Global Chess League (GCL), American Gambits announced 5C Network, a Bengaluru-based leader in artificial intelligence-powered diagnostics, as their Associate Sponsor, bringing together AI’s transformative power in chess and healthcare, ahead of the second season of the GCL (2024), scheduled to be played in London’s Friends House from October 3 to 12.

A dominant name in the medical imaging and diagnostic sector, 5C Network will look to access their partnership with American Gambits to tap the U.S. market, leveraging the team’s star player, American grandmaster, Hikaru Nakamura’s popularity. This collaboration presents a unique opportunity for 5C to connect with the vast US-based chess fan community and build a strong presence for the 5C Network’s brand visibility.

American Gambits’ ownership team, led by Indian cricket icon Ravichandran Ashwin and entrepreneurs and chess fanatics, Venkat K Narayana and Prachura PP who are Co-owners, shared their excitement: “We’re excited to partner with 5C Network for the Global Chess League 2024 given our shared values of excellence and innovation. Their innovative approach to healthcare, focused on precision, problem-solving, and the use of cutting-edge technology, perfectly mirrors the strategic thinking and foresight that chess demands. Together, we look forward to showcasing the power of strategic collaboration.”

As part of the partnership, the 5C logo will be prominently displayed on the American Gambits’ jersey during GCL 2024 and featured in the content created to promote the presence of the sponsor on the Team and Players’ social media platforms in the course of the League. Furthermore, Nakamura, with over 5 million followers across platforms like Twitch, YouTube, and Instagram, combined, will be creating exclusive visibility and value proposition for the Brand, helping them get acquainted to the broader U.S. audience that the Chess star enjoys.

Kalyan Sivasailam, CEO of 5C Network, echoed the enthusiasm: “Chess was one of the earliest fields where AI demonstrated its true potential. Today, we are bringing that same cutting-edge technology to diagnostics, where precision and strategy are equally crucial. Our partnership with American Gambits is more than just a sponsorship; it’s a perfect alignment of AI’s transformative power in both chess and healthcare. We look forward to collaborating with a team that shares our commitment to innovation and excellence.”

Grandmaster Nakamura will lead the American Gambits, fresh off his third-place finish at the Speed Chess Championship, bringing strategic brilliance and fearless play. He is joined by Jan-Krzysztof Duda, Vladislav Artemiev, and reigning women’s world rapid champion Bibisara Assaubayeva on the roster. Elisabeth Paehtz adds experience and stability, while young prodigy Jonas Buhl Bjerre provides focus and cohesion. Coach RB Ramesh will support the team from the sidelines, adding his valuable insight that has shaped Indian chess prodigies like R Praggnanandhaa and Vaishali.

Infobip, Nokia and GSMA demonstrate benefits of Network APIs at industry-leading developer conference Shift
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Infobip, Nokia and GSMA demonstrate benefits of Network APIs at industry-leading developer conference Shift

New Delhi, 20 September 2024 – Global communications platform Infobip is bringing together global mobile telecoms business Nokia, mobile industry association GSMA, leading Croatian telco Croatian Telekom (Hrvatski Telekom) and other companies at its leading developer-focused conference Shift this year.

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Following several successful partnerships launching Camara-compliant Network APIs under the GSMA Open Gateway initiative, telcos and MNOs globally want to launch and monetize emerging and future services. Many firms still need better relationships with developers to do so quickly and efficiently. That’s why MNOs are attending Infobip Shift this year.

Matija Ražem, VP of Business Development at Infobip, said: “We are among the first to support the Camara project and the GSMA Open Gateway initiative, and closely working with telcos to deliver new added-value services. Our collaboration with Nokia, GSMA, and other MNOs at Shift Zadar shows how we work with our telco partners to expose customer experience-friendly APIs to developers”.

At Shift, Elmo, a tech-automotive company, will present its remote driving technology where attendees can drive a car in Finland through a console in Croatia. Elmo worked with Nokia to implement its Network as a Code API to control Elmo cars remotely by operating the remote consol through the wireless 5G Campus network of Croatian Telekom and will count on Infobip’s and Croatian Telekom’s support to bring this experience in this year’s Shift Zadar edition to the guests.

“The work of building the Network API ecosystem has advanced remarkably well this year. This important developer event that our partner, Infobip, is hosting further underlines the strong appetite in that ecosystem to come together to share the latest information and solutions as we progress with making it easier for developers around the world to utilize network capabilities and develop new use cases for their customers,” said Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network Services at Nokia.

For GSMA – one of the main Shift Zadar sponsors this year – the Open Gateway initiative has a crucial role in the ecosystem of Telco APIs combined with CPaaS APIs. “The GSMA Open Gateway initiative is going from strength to strength and has culminated in the birth of a new API era. We want to nurture and grow this opportunity and provide access to developers, cloud providers, and telcos so they can launch game-changing new services. Our presence at Shift helps drive awareness of this opportunity and ensure its growth,” said Henry Calvert, Head of Networks at GSMA.

As one of the companies participating in Shift Zadar and providing the underlying communication technology for the Elmo remote driving experience, Boris Drilo, Chief Technical & Information Officer (CTIO) at Croatia Telekom, said: “Network APIs are bringing the engagement of our customers and their favorite brands to the next level. Croatian Telecom offers this new business capability to Croatian businesses, bringing them eye-to-eye with their European peers. Telecom network capabilities exposure to developers has never been easier or simpler, revealing great possibilities. GSMA’s Open Gateway Initiative is making this approach scalable, creating the foundation for the rapid introduction of new use cases throughout telecom operators’ footprints. Croatian Telekom is opening the door to this new opportunity for all our partners to deliver their services in Croatia”.

As a great promoter and participant in the Open Gateway initiative, and one of the main guests at Shift Zadar 2024, Cedric Gonin, API Business Strategy and Channel Management Director at Orange, said: “Making Network APIs accessible to developers is fostering innovation in several industries. At Orange, we are committed to share our APIs with developers and partners to experiment and implement new solutions. Our participation in the Infobip Shift event highlights our dedication to empowering the developer community with innovative tools that enable the creation of tomorrow’s digital services through the CAMARA API within the Open Gateway initiative.”