Business
Cloud firm Genesys raises $580 mn at $21 bn valuation
Global Cloud company Genesys on Tuesday announced it has raised $580 million in a new funding round, taking its valuation to $21 billion.
The round was led by Salesforce Ventures with participation from investors like ServiceNow Ventures, Zoom Video Communications, among others.
“We believe this fundraise, including raising from leading strategic investors, validates the achievements we have made to date and will accelerate our continuing efforts to expand and realise the vast ‘Experience as a Service’ market opportunity ahead,” said Tony Bates, CEO and Chairman, Genesys.
The company’s cloud and subscription bookings, which make up more than 90 per cent of total new bookings, grew more than 100 per cent year-over-year in the first half of fiscal year 2022 (February 1-July 31 this year).
“Customer expectations continue to rise exponentially around personalised, empathetic, and connected experiences,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures at Salesforce.
Nearly 7,000 organisations around the world, including 17 of the top 20 Fortune 500 companies, now deliver customer or employee experiences with Genesys, the company said in a statement.
It has introduced the industry’s leading multi-cloud architecture, delivered several hundred innovations across its customer experience platforms, released a new workforce engagement solution and launched the Genesys ‘DXTM’ solution, a conversational artificial intelligence (AI) and digital experience product targeted at new sales and marketing audiences.
Every year, Genesys orchestrates more than 70 billion customer experiences for organisations in more than 100 countries.
Business
New multi-tracking projects to boost rail infrastructure across 4 states: PM Modi

New Delhi, Aug 19: Prime Minister Narendra Modi said on Wednesday that four multi-tracking projects that have been approved by the Cabinet will provide a major boost to railway infrastructure and connectivity across Andhra Pradesh, Odisha, Tamil Nadu and West Bengal.
These projects will have many benefits, like strengthening passenger and freight movement, reducing congestion and greater logistics efficiency. The better connectivity will also facilitate commerce and tourism in these states, PM Modi said in a post on X.
The multi-tracking projects will add important capacity to the Indian Railways network and benefit lakhs of people, he added.
The projects, which entail a total investment of Rs 9,450 crore, will be completed by 2030-31.
The projects include the Kharagpur – Bhadrak (Ranital) 4th Line across a stretch of 173 km covering West Bengal and Odisha; the second project is a 4th line from Bhadrak to Haridaspur across 75 km in Odisha, while the third is the Gummidipundi – Gudur 3rd and 4th line extending across a distance of 90 km in Andhra Pradesh and Tamil Nadu. The fourth project is the Cuttack to Paradeep (Badabandha) 3rd and 4th lines to cover a 72 km route in Odisha.
The projects are in line with the Prime Minister’s vision of a New India, which will make people of the region “Atmanirbhar” by way of comprehensive development in the area, which will enhance employment opportunities, a statement said.
The projects are planned on the PM-Gati Shakti National Master Plan with a focus on enhancing multi-modal connectivity and logistics efficiency through integrated planning and stakeholder consultations. These projects will provide seamless connectivity for movement of people, goods and services.
The four projects covering eight districts across West Bengal, Odisha, Tamil Nadu and Andhra Pradesh will increase the existing network of Indian Railways by about 410 kms. The proposed multi-tracking projects will enhance connectivity to approximately 6,448 villages with a population of about 60 lakhs.
The proposed capacity enhancement will improve rail connectivity to several prominent tourist destinations across the country, including Kuldiha Wildlife Sanctuary, Bhitarkanika National Park, Maa Bhadrakali temple, Maa Dhamarai temple, Panchalingeswar Temple, Talsari–Udaypur and Chandipur Beach, Pulicat Lake, Nelapattu Bird Sanctuary, Lord Veeraraghava Perumal Temple, Gada Kujanga Jagannath Temple, Sarala Temple, Dhabaleswar Temple and Lalitgiri, a Buddhist site.
The proposed projects are essential routes for transportation of commodities such as coal, iron ore, cement, iron and steel, containers, automobiles and food grains.
Business
Cabinet okays key Bihar road project for Rs 3,590 crore to boost connectivity, cut congestion

New Delhi, Aug 19: In a bid to expand Bihar’s National Highway network and facilitate faster movement of goods and passengers, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved the upgradation of an 82.578 km length of the Muzaffarpur-Sitamarhi-Sonbarsa Section of NH-22 to four-lane, at a total capital cost of Rs 3,590.73 crore.
The project acts as a key feeder corridor connecting the India–Nepal border at Sonbarsa with economic centres like Muzaffarpur at NH-27 (East–West Corridor).
According to the Cabinet, this will significantly reduce congestion in densely populated areas of Muzaffarpur, Muksudpur, Runni Saidpur, Thumma, Dumra, Bhutahi, and Sonbarsa.
“The Muzaffarpur–Sitamarhi–Sonbarsa stretch of NH-22 holds significant strategic and economic relevance, ensuring seamless linkage to the national freight grid,” a Cabinet communique said.
It not only enhances connectivity to industrial zones like Barauni and riverine logistics hubs but also strengthens cross-border passenger and cargo movement via the nearby Land Port at Bhithamore.
Additionally, the upgraded corridor will enhance connectivity to five PM Gati-Shakti Economic Nodes (four Industrial Estates and one Mega Food Park), four Social Nodes (Baba Garibnath Temple, Mata Janki Temple, Punaura Dham, Muzaffarpur and Sitamarhi aspirational Districts), and two Logistic Nodes (Muzaffarpur and Sitamarhi Railway Stations).
Improved connectivity will facilitate efficient movement of goods and agricultural supply chains, support regional economic growth, and provide better access to important cultural and religious destinations such as the Buddhist Circuit and historic Janaki Punaura Dham Temple, Sitamarhi.
According to the Cabinet, the project has been designed for a speed of 100 kmph with an average speed of 80 kmph, having no at-grade median openings, ensuring fast and safe travel.
Moreover, the project has provision for seven major bridges (including a 340-metre-long major bridge over the perennial Bagmati River), three Railway Over Bridges (ROBs), and two flyovers to maintain cross movement of the traffic and ensure safe, high-speed travel.
Business
Cabinet okays 4 railway projects worth Rs 9,450 crore

New Delhi, Aug 19: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved four multi-tracking railway projects with a total investment of Rs 9,450 crore, which will be completed by 2030-31.
The projects include the Kharagpur-Bhadrak (Ranital) 4th Line across a stretch of 173 km covering West Bengal and Odisha; the second project is a 4th line from Bhadrak to Haridaspur across 75 km in Odisha, while the third is the Gummidipundi-Gudur 3rd and 4th line extending across a distance of 90 km in Andhra Pradesh and Tamil Nadu, a Cabinet communique said.
The fourth project is the Cuttack to Paradeep (Badabandha) 3rd and 4th lines to cover a 72 km route in Odisha.
The increased line capacity will significantly enhance mobility, resulting in improved operational efficiency and service reliability for Indian Railways. These multi-tracking proposals are poised to streamline operations and alleviate congestion. The projects are in line with the Prime Minister’s vision of a New India, which will make people of the region “Atmanirbhar” by way of comprehensive development in the area, which will enhance employment opportunities, the statement said.
The projects are planned on the PM-Gati Shakti National Master Plan with a focus on enhancing multi-modal connectivity and logistics efficiency through integrated planning and stakeholder consultations. These projects will provide seamless connectivity for movement of people, goods, and services.
The four projects covering eight districts across West Bengal, Odisha, Tamil Nadu and Andhra Pradesh will increase the existing network of Indian Railways by about 410 km. The proposed multi-tracking projects will enhance connectivity to approximately 6,448 villages with a population of about 60 lakh, the statement said.
The proposed capacity enhancement will improve rail connectivity to several prominent tourist destinations across the country, including the Kuldiha Wildlife Sanctuary, Bhitarkanika National Park, Maa Bhadrakali temple, Maa Dhamarai temple, Panchalingeswar Temple, Talsari–Udaypur and Chandipur Beach, Pulicat Lake, Nelapattu Bird Sanctuary, Lord Veeraraghava Perumal Temple, Gada Kujanga Jagannath Temple, Sarala Temple, Dhabaleswar Temple and Lalitgiri, a Buddhist site.
The proposed projects are essential routes for transportation of commodities such as coal, iron ore, cement, iron and steel, containers, automobiles, food grains, etc. The capacity augmentation works will result in additional freight traffic of magnitude 76 MTPA (Million Tonnes Per Annum). The Railways, being an environment-friendly and energy-efficient mode of transportation, will help both in achieving climate goals and minimising logistics cost of the country, reduce oil import ( around 13 crore litres) and lower CO2 emissions (around 65 crore kg), which is equivalent to the plantation of 2.60 crore trees, the statement added.
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