Latest news with #GC
Axios
2 days ago
- Business
- Axios
Commure raises $200M from GC's marketing fund
Health care AI infrastructure startup Commure raised $200 million in growth financing from General Catalyst's "customer value fund," a vehicle GC created to power companies' sales and marketing budgets. Why it matters: The structure means Commure must tie financing to customer performance rather than equity — a notable move for GC, which poured millions into now-shuttered AI health infrastructure play Olive. What's next: CEO Tanay Tandon expects to see Commure go public in the next two years. Commure is considering a tender offer sometime later this year, per Tandon, who sees it as a good opportunity to consolidate its core investors. The company may also raise another round of capital later this year, Tandon tells Axios Pro. Zoom in: With this funding, Commure is effectively raising against the cashflows of its existing customers. If the marketing campaigns underperform, GC absorbs the loss. Today, Commure has $200 million in live, contracted annual revenue, per Tandon. The company has about six years of runway, and is on track to be cashflow positive by the middle to end of next year, he adds. What he's saying:"Ambient and RCM lines are about 70-75% of our sales and marketing focus," says Tandon. The raise "effectively lets us accelerate our investments in eng[ineering], because it's taken S&M off our balance sheet," he adds. How it works: GC wants Commure to set the blueprint for AI-native infrastructure in U.S. health systems. Reality check: That's an effort the investment firm underwrote previously in Olive AI, the $4 billion hospital-facing automation startup whose technology didn't live up to the promise. While Commure has multiple health tech assets via previous M&A activity — including those of patient navigation startup Memora Health and ambient AI company Augmedix — it's unclear which ones, if any, are consistently profitable. Tandon says Commure's fastest-growing business lines are in revenue cycle, workflow management, and ambient AI. What they're saying: "I see revenue cycle as [Commure's] core revenue engine that allows us to fund other modules that live on top, like ambient [AI] and clinical copilots," Tandon says. Friction point: Commure faces considerable hurdles in the form of dominant electronic medical records giants (EMRs), several of whom are expected to release their own competitive AI tools.
India Today
2 days ago
- India Today
Chennai Metro fines contractor Rs 1 crore over fatal beam collapse
A week after a metro construction collapse in Chennai's Nandambakkam area claimed the life of a 43-year-old man, the Chennai Metro Rail Limited (CMRL) has levied a penalty of Rs 1 crore on the contractor deemed primarily responsible for the incident. The Chief Safety Manager for Environmental, Social, Health and Safety (ESHS), as well as the Senior ESHS Manager, have been held accountable. CMRL has confirmed that action has been taken against both General Consultant (GC), which served as the supervising agency for the project, has been held secondarily responsible. Disciplinary action has been initiated against two key personnel within the GC team — the Safety Engineer and the Senior Deputy Resident Engineer. A total of four officials from both the contractor and the GC have been removed from their respective roles in the metro project. The incident occurred on the night of June 11, when a massive concrete beam collapsed near the Valasaravakkam neighbourhood in western Chennai, not far from the DLF IT Special Economic Zone and the Larsen & Toubro Construction Campus. The location forms part of the under-construction metro corridor linking Poonamallee to Porur via to police personnel on-site, the accident took place around 9 pm, when a concrete metro beam crashed onto the road during construction activity. CMRL, in a press release clarified that two I-girders erected a week earlier near the main gate of the Larsen & Toubro Head Office in Manapakkam collapsed after one of the A-frame supports slipped. 'It is with regret that we confirm one fatality from the incident. A thorough investigation is forthcoming,' the agency deceased, identified as Ramesh, a native of Nagercoil, was caught beneath the debris and died at the scene. CMRL has announced an ex-gratia payment of Rs 5 lakh to the victim's family, while L&T, which is executing the metro work, has offered an additional Rs 20 lakh as compensation. CMRL also stated that work is under way to clear the debris and restore the affected stretch on a 'war footing', and that an internal investigation is in progress to determine the precise cause of the failure. IN THIS STORY#Chennai#Tamil Nadu
The Hindu
2 days ago
- The Hindu
Chennai Metro Rail slaps ₹1 crore fine on contractor, removes four staff after Ramapuram girder crash
Chennai Metro Rail has slapped a fine of ₹1 crore on the contractor for the recent girder crash that occurred at a construction site in Ramapuram, in which a man was killed. According to officials, following an inquiry, four persons who were directly responsible for the incident have been removed from the project. Around 9.45 p.m. on June 12, when a two-wheeler rider, Ramesh, was travelling past Manapakkam, two I-girders fell from the under-construction flyover, killing him on the spot. Each of the I-girders weighed nearly 75 tonnes. Compensation given Soon after the incident, Chennai Metro Rail Limited issued a statement saying that CMRL and the contractor, Larsen and Toubro (L&T), had given a compensation of ₹25 lakh to the family of the motorist. Sources said the investigation report indicated that the collapse could have been prevented had the contractor provided support to the girders. 'The contractor should have carried out what is known as 'lateral bracing' — providing support to the mid-section of the girder. While it was mentioned in the detailed design, it was not executed. As a result, the turnbuckle and the steel A-frame could not take the load of girders, and collapsed. Doing this was essential as the the length of the I-girder was 33.3 metres. Action has been taken against those directly responsible with the execution of the work in the area,' a source said. A safety audit has also been completed, and it has been found that there was no issue with the quality of the concrete, the steel A-frame, and the turnbuckle used in the section. Work is under way to provide support to the I-girders at the mid-section along this stretch. Officials of CMRL said they had found that the contractor was primarily responsible for the incident. The supervising agency for the CMRL, the General Consultant (GC), too has to bear responsibility, they say. The Chief Safety Manager (Environmental, Social, Health and Safety-ESHS); senior ESHS Manager of L&T Safety Engineer; and Senior Deputy Resident Engineer from the GC have been removed from the project. The 3.15-km flyover is being built below the elevated Metro Rail stretch for Corridor 5 (Madhavaram to Sholinganallur), and is likely to be completed by this year-end.
The Hindu
3 days ago
- The Hindu
Metro Rail slaps ₹1 cr. fine on contractor, removes four staff after girder crash
Chennai Metro Rail has slapped a fine of ₹1 crore on the contractor for the girder crash that occurred at a construction site in Manapakkam, in which a man was killed. According to officials, following an inquiry, four persons who were directly responsible for the incident have been removed from the project. Around 9.45 p.m. on June 12, when a two-wheeler rider, Ramesh, was travelling past Manapakkam, two I-girders fell from the under-construction flyover, killing him on the spot. Each of the I-girders weighed nearly 75 tonnes. Compensation given Soon after the incident, Chennai Metro Rail Limited issued a statement saying that CMRL and the contractor, Larsen and Toubro (L&T), had given a compensation of ₹25 lakh to the family of the motorist. Sources said the investigation report indicated that the collapse could have been prevented had the contractor provided support to the girders. 'The contractor should have carried out what is known as 'lateral bracing' — providing support to the mid-section of the girder. While it was mentioned in the detailed design, it was not executed. As a result, the turnbuckle and the steel A-frame could not take the load of girders, and collapsed. Doing this was essential as the the length of the I-girder was 33.3 metres. Action has been taken against those directly responsible with the execution of the work in the area,' a source said. A safety audit has also been completed, and it has been found that there was no issue with the quality of the concrete, the steel A-frame, and the turnbuckle used in the section. Work is under way to provide support to the I-girders at the mid-section along this stretch. Officials of CMRL said they had found that the contractor was primarily responsible for the incident. The supervising agency for the CMRL, the General Consultant (GC), too has to bear responsibility, they say. The Chief Safety Manager (Environmental, Social, Health and Safety-ESHS); senior ESHS Manager of L&T Safety Engineer; and Senior Deputy Resident Engineer from the GC have been removed from the project. The 3.15-km flyover is being built below the elevated Metro Rail stretch for Corridor 5 (Madhavaram to Sholinganallur), and is likely to be completed by this year-end.
BBC News
3 days ago
- Sport
- BBC News
'Tough start... but feeling positive' - fans on Newcastle's fixtures
With the Premier League fixtures out, we asked for your thoughts on the schedule and where you think Newcastle will be after their first 10 are some of your comments:GC: It's a tough start in those first 10 games plus with the Champions League fixtures added in. I would still expect that Newcastle will be in the top six by the end of those games though. It is just as hard for all teams as well. We need to get a good transfer window Starting the season with Aston Villa away and Liverpool at home will be tough but I am feeling positive about a top three finish with the right I would like 24 points out of the first 10 games and I can't wait for us to put Sunderland in their place in December. It is a tough start so I would take five points from the opening three games in I can feel a four wins, three draws, three losses coming After 10 games, Newcastle will be second on 26 behind Liverpool and only dropping points in draws at Villa and Brighton. That means winning home games against Liverpool (it's our turn), Arsenal (we usually step up) and Nottingham Forest. Optimism but not crazy!Krish: In the European places. It's going to be a fun start and and we may struggle for consistency but I think top seven after 10 games. If we don't strengthen sufficiently, then in the top 10.
