April 4, 2023 – Page 2 – MediaLine Pakistan

April 4, 2023

ANF seizes over 1528-kilogram drugs

Islamabad, April 04, 2023 (PPI-OT):The Anti-Narcotics Force (ANF) seized more than 1528-kilogram drugs having worth of 27.85 million dollars during the past one week. According to a press release, these drugs were captured in 40 counter narcotics in different parts of the country. The ANF arrested 42 persons including four women and two foreigners, while twelve vehicles were also impounded. Cases were registered at respective ANF Police Stations and further investigations are under process.

For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk

April 4, 2023

Pakistan calls for equitable representation in UNSC to make it democratic, effective

Islamabad, April 04, 2023 (PPI-OT):Pakistan has reaffirmed its call for ensuring equitable representation in UN Security Council by adding more elected members to make it more democratic and effective. Taking part in debate on reforming the Security Council at the UN, Pakistan deputy permanent representative Ambassador Aamir Khan said only non-permanent members, elected periodically by the General Assembly is more democratic and consistent with the UN Charter.

He said it is only the democratic process of election and future re-election by its peers that instils accountability and responsibility in the conduct of States serving on the Security Council. The envoy said the concept of permanent membership violates the principle of sovereign equality and will multiply the prospects of paralysis in the Security Council. He said adding 11 non-permanent members would reduce inequality and enlarge the voice and influence of those States which are not involved in great power rivalries and which desire decisive action by the Council.

April 4, 2023

Gas supply situation for consumers better this year as compared to previous years, Senate told

Islamabad, April 04, 2023 (PPI-OT):The Senate was informed on Tuesday that gas supply situation for the consumers is better this year as compared to the previous years. Speaking in the House during Question Hour, Minister of State for Law Shahadat Awan said it is because of the timely steps taken by the government. The Minister of State said the prices of gas are determined by Oil and Gas Regulatory Authority.

He said there was some increase in the gas price recently due to one percent increase in General Sales Tax. Earlier, the House offered fateha for the security personnel martyred in a recent act of terrorism in Balochistan.

April 4, 2023

Vytelle Closes $20MM in Series B Funding to Accelerate Genetic Progress in Cattle

LENEXA, Kansas, April 04, 2023 (GLOBE NEWSWIRE) — Vytelle, a precision livestock company, has raised $20MM in Series B funding to accelerate genetic progress in cattle. With this new investment, Vytelle will continue to expand its global operations, while delivering the most accessible, reliable, and predictable reproductive technology available to customers today.

The investment was led by Forage Capital Partners, a Calgary based growth equity fund that invests across the entire food and agriculture value chain. New investor, Mountain Group Partners, joins current investors, Grosvenor Food and Ag Tech, Open Prairie, Fulcrum Global Capital, Serra Ventures, and KC Rise to complete the round.

Forage Capital Partner, Jim Taylor said, “Vytelle has proven their ability to scale and deliver consistent results for the benefit of cattle producers aiming to accelerate genetic progress around the world. We are impressed with Vytelle’s track record of growth and delivery and are excited about what the future will bring.”

Vytelle’s integrated technology platform combines Vytelle ADVANCE, a breakthrough in vitro fertilization (IVF) technology, with Vytelle SENSE, an animal performance data capture system, and Vytelle INSIGHT, an artificial intelligence based genetic analytics engine.

As the fastest growing advanced reproduction company, Vytelle is easily accessible to more than 50% of the US cow herd. Combining this footprint, with Vytelle’s curation of the world’s largest multibreed efficiency database, provides the infrastructure to impact bovine genetic progress rapidly. Progressive cattle producers can use the technology to multiply the impact of elite livestock productivity and profitability, sustainably delivering more protein with fewer inputs.

“We are delighted to have secured this new investment; this is indicative of strong market interest in our products and services. Our mission is clear, and we are grateful for the support of our investors who join us on our journey to ensure meat and milk are viable food choices for future generations.” said Kerryann Kocher, CEO of Vytelle.

About Vytelle

Vytelle is a precision livestock company reshaping how cattle producers worldwide optimize their herds. Through Vytelle’s integrated technology platform, generations of genetic gains can be made in just a few years. This allows producers to sustainably deliver more protein with fewer inputs, helping to ensure meat and milk are viable, competitive food choices for future generations. For more information about Vytelle, please visit www.vytelle.com.

About Forage Capital Partners

Forage Capital Partners is Canada’s most experienced team of Ag & Food investors, having managed over $500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities. For more information on Forage Capital Partners, visit www.foragecapitalpartners.com.

About Mountain Group Partners

Mountain Group Partners is a Nashville-based venture capital firm that invests in early-stage companies predominantly in the life sciences, animal health and disruptive technology sectors.  The firm has invested in companies across animal health primarily in companion animals and technologies centered on improving protein production.  Mountain Group takes a hands-on approach to investing based upon its deep operational experience and currently has over $300 million in assets under management. For more information on Mountain Group Partners, visit www.mtngp.com.

Attachment

Vytelle Announces Series B Funding

Lisa Rumsfeld
Vytelle
lisa.rumsfeld@vytelle.com

GlobeNewswire Distribution ID 8801024

April 4, 2023

Decision Intelligence Leader & AI Innovator Quantexa Raises Valuation to $1.8 Billion With Completion of Series E Funding Round

GIC leads funding round of $129 million with Warburg Pincus, Dawn Capital and other existing investors participating

Quantexa joins elite group of UK tech companies reaching breakout Unicorn status

LONDON and NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced today that it has completed a $129 million Series E funding round. The latest investment round secures the British tech company’s unicorn status with a valuation of $1.8 billion and will accelerate the execution of its growth strategy within the *$230bn Decision Intelligence category.

The round was led by GIC, a global institutional investor, and existing investors also participated, including Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO Ventures, and AlbionVC. This investment comes less than 18 months after Quantexa closed its $157 million Series D funding round in July 2021 and just weeks after its acquisition of Aylien, a Dublin-based leader in natural language processing (NLP) and advanced AI.

In what has been a difficult period for many tech companies, Quantexa continues to post impressive growth, having grown their ARR over 100% since closing their Series D round. In the same time period, Quantexa has seen robust growth in all regions, including a breakout performance in North America, with an increase in ARR of over 180%.

The success comes on the heels of Quantexa’s continued geographic expansion efforts which has seen the company grow from 500 to 650 employees over the past year and open new offices in New York City, the UAE, Amsterdam, and a new Technology and Analytics Hub in Malaga Tech Park, Spain, in November 2022. This new capital will ensure that Quantexa continues to grow its global presence and invest in its world-class engineering talent.

Quantexa also plans to use the funding to boost technology innovation efforts and strengthen its Decision Intelligence Platform capabilities in low-code data fusion, graph analytics, machine learning (ML), natural language processing (NLP) and artificial intelligence (AI). Additionally, Quantexa will increase focus on accelerating joint go-to-market efforts with its flagship partners which include Google, Moody’s, Accenture, KPMG, Deloitte, and EY.

Deployed in more than 70 countries, thousands of users across banking, insurance, telecoms industries, and within public sector, rely on Quantexa’s outcome-driven solutions to protect, optimize, and grow their organizations. Quantexa’s growing customer-base includes BNY Mellon, HSBC, Standard Chartered, Danske Bank, Vodafone, and The Public Sector Fraud Authority in the UK Cabinet Office.

Vishal Marria, CEO of Quantexa said, “After closing our Series D investment round, Quantexa has been on a transformational journey, accelerating the growth of our global software business and firmly establishing our leadership position in the emerging Decision Intelligence category. In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries. This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future.

“It’s a real testament to our vision and trajectory to have such a significant contribution from our new investor, GIC and the majority of our Series D investors – in our latest round. We warmly welcome GIC and thank our existing investors for their continued confidence in our ability to generate growth and accelerate the path to profitability.”

*Total addressable market (TAM) estimate is based on Quantexa proprietary research with data from sources including IDC, Chartis, GreySpark (GS), Allied Market Research, and Inkwood Research.

About Quantexa

Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 600 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Toronto, Malaga, Brussels, Amsterdam, Luxemburg, Singapore, Melbourne, Sydney, and the UAE. For more information, please visit www.quantexa.com or follow us on LinkedIn.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital and infrastructure. Its long-term approach, multi-asset capabilities and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.

Media Enquiries 
C: Stephanie Crisp, Associate Director and Media Strategist, Fight or Flight
E: Quantexa@fightflight.co.uk

C: Adam Jaffe, SVP of Corporate Marketing
T: +1 609 502 6889
E: adamjaffe@quantexa.com
– or –
RapidResponse@quantexa.com

GlobeNewswire Distribution ID 1000802066

April 4, 2023

Pakistan Court Orders Snap Elections in 2 Provinces, Giving Ex-PM Khan Political Boost

Pakistan’s Supreme Court ordered Tuesday that snap elections in two provinces must be held on May 14, declaring that a delay of the votes by a government-backed election commission was unlawful.

The verdict handed a political victory to former Prime Minister Imran Khan, who has been pushing for early national elections since he was ousted from power by a parliamentary no-confidence vote a year ago.

Khan’s Pakistan Tehreek-e-Insaf political party, or PTI, controlled the legislatures and governments in central Punjab and northwestern Khyber Pakhtunkhwa provinces until January, when he dissolved them to force early nationwide polls.

His successor, Prime Minister Shehbaz Sharif, rejected his call for new elections and backed the election panel’s delay, saying it was impossible to organize the votes while the country suffered from an economic crisis and growing terrorist attacks.

“The impugned order … made by the Election Commission of Pakistan is declared to be unconstitutional, without lawful authority or jurisdiction … and is hereby quashed,” the three-member bench led by the chief justice ruled Tuesday. It set May 14 as the new date for polls in Punjab to make up for the time lost.

“Neither the constitution nor the law empowers the commission to extend the date of elections beyond the 90 days,” read the ruling.

Pakistan’s constitution binds the commission to schedule elections within 90 days of the dissolution of national or provincial legislatures. But it moved the Punjab polls from April 30 to October 8, when national elections are scheduled in Pakistan, saying the government had refused to provide funding and security.

The top court ruled that the Sharif government must unlock funds for the polls and ensure the security of the democratic process.

The panel also allowed for a separate petition to be moved to determine the date of Khyber Pakhtunkhwa’s polls to meet the constitutional requirement.

Senior PTI leaders speaking to reporters outside the court declared the verdict a “victory for the rule of law.”

Pakistani Law Minister Azam Nazeer Tarar criticized the ruling, warning it would “deepen the ongoing political and constitutional crisis” in the country.

“I can only express sorrows and regret over the decision,” he told reporters in Islamabad.

Pakistan’s political turmoil comes amid a deepening economic crisis in the country of about 232 million people. The nuclear-armed South Asian nation’s foreign exchange reserves have dropped to barely enough for four weeks of imports, with official consumer price inflation jumping to more than 35%, the highest in decades.

Khan, 70, maintains that Pakistan’s economic crisis can only be resolved once political stability is in place through free and fair elections. He insists the Sharif government is shying away from elections, fearing PTI’s growing popularity.

In recent weeks, the cricket-star-turned-deposed leader has accused authorities of arresting thousands of his party workers, including his social media operators, and subjecting them to custodial torture.

Police have confirmed fewer than 1,000 arrests were made after PTI workers’ recent violent clashes with security forces.

The government has called Khan’s party a “gang of miscreants” but has not responded to his assertions about the police crackdown on his supporters.

“We will not rest until we salvage the country from a nuisance and rioter like you,” Information Minister Marriyum Aurangzeb said in response to Khan’s allegation of torture against his party activists.

Political tensions in Pakistan have worsened since last November when Khan was wounded in the leg when gunfire hit his vehicle during an anti-government march. He accused Sharif and several administration members of the assassination attempt. The government rejected the charges as frivolous.

Source: Voice of America