Caterpillar to relocate global headquarters
Abstract
PALO ALTO, Calif. - Hourly.io, a workers' comp and payroll startup, announced it has raised $27 million in Series A financing led by Glilot Capital Partners through its early growth fund, Glilot. Hourly's user-friendly platform fuses three complicated products - time and attendance, payroll and workers' comp insurance - into one. "Hourly completely eliminates uncertainty because payroll and workers' comp are connected. Now companies know exactly how much their coverage costs," said Sagi. "We're thrilled to expand Hourly out of California and give business owners across America a better way to pay their team, get a handle on their true labor costs, and better manage their workers' comp insurance." MOLINE, Ill. - John Deere announced an expanded relationship with Wacker Neuson, a manufacturer of compact and construction machines, for 0-9-metric-ton excavators, to include North America. Planetspark, a wholly owned subsidiary of SGX mainboard listed Excelpoint Technology Ltd. is also a partner working closely with SpaceAge Labs to help accelerate their technology alongside joining the round as an investor. The start-up will use this seed funding to grow its team, expand internationally, and roll out several pilot projects across Singapore, Australia, and the U.S. "Growing populations, increased urbanisation, rising labour costs, lack of skilled workers, high safety standards and social distancing stipulations - various factors have been coming together resulting in the strong need for remote monitoring and IoT/AI solutions. This is why we set up SpaceAge Labs - to help governments and corporations improve the way they are managing their widespread assets for improved efficiency, reliability and safety," explained Deepak Pitta, founder and CEO of SpaceAge Labs. SpaceAge Labs has IoT deployments with more than 30 customers, including two key Smart Nation pilot projects in Singapore: Firstly, working with National Parks Board to digitalize grass-cutting operations to improve contractor efficiencies; and secondly helping the Public Utilities Board to monitor for manhole overflow events in Singapore's wastewater network.
