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<ul><li>Scientists from <keyword id="208994" type="General" weightage="20" keywordseo="Wuhan" source="Orion">Wuhan</keyword>, China have warned that the <keyword id="13048277" type="General" weightage="20" keywordseo="NeoCov" source="Orion">NeoCov</keyword> strain has a high death and transmission rate.</li><li>The NeoCov is not a new variant as it was discovered in 2012 and 2015 in Middle Eastern countries and is very similar to SARS-CoV-2 (coronavirus) in humans.</li><li>Studies show that the COVID-19 vaccinations may not be adequate enough to protect the immune system of the people.</li></ul>While the world is still grappling with the <keyword id="1609796" type="General" weightage="20" keywordseo="Omicron" source="Orion">Omicron</keyword> variant of COVID-19, reports of another variant ‘NeoCov’ has started already spreading. Scientists from Wuhan, China have warned that this strain has a high death and transmission rate. The NeoCov strain is related to Middle East Respiratory Syndrome MERS COV. According to Chinese researchers, one in every three infected people dies from this strain. <cmsannotation type="cmsannotation" annotationid="Is NeoCov a new variant?" comment="subhead" text="Is NeoCov a new variant?">Is NeoCov a new variant?</cmsannotation> The NeoCov is not a new variant as it was discovered in 2012 and 2015 in Middle Eastern countries and is very similar to SARS-CoV-2 (coronavirus) in humans. An interesting fact to note is that this strain was first found in bat populations and has been known to spread only among animals, according to a study published in bioRxiv website, which discovered the NeoCoV. A report by the Russian news website Sputnik also said, “Our study demonstrates the first case of ACE2 usage in MERS-related viruses, shedding light on a potential bio-safety threat of the human emergence of an ACE2 using 'MERS-CoV-2' with both high fatality and transmission rate.” <cmsannotation type="cmsannotation" annotationid="Should we worry about the new strain?" comment="subhead" text="Should we worry about the new strain?">Should we worry about the new strain?</cmsannotation> Commenting on the potential risk of the novel strain, experts from Russian State Virology and Biotechnology Research Centre said, in a statement, “The Vector research centre is aware of the data obtained by Chinese researchers on the NeoCoV coronavirus. At the moment, the issue is not the emergence of a new coronavirus capable of actively spreading among humans.” <cmsannotation type="cmsannotation" annotationid="Can the COVID-19 vaccines protect us from this strain?" comment="subhead" text="Can the COVID-19 vaccines protect us from this strain?">Can the COVID-19 vaccines protect us from this strain?</cmsannotation> Studies show that the COVID-19 vaccinations may not be adequate enough to protect the immune system of the people. “Furthermore, our studies have shown that the current COVID-19 vaccinations are inadequate to protect humans from eventuality of the infection caused by this virus,” added the study published by bioRxiv website. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/stealth-omicron-heres-what-we-know-so-far-about-the-new-subtype-of-the-omicron-variant-of-covid-19/articleshow/89156223.cms">Stealth Omicron: Here’s what we know so far about the new subtype of the Omicron variant of COVID-19</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-indian-government-can-help-zomato-swiggy-uber-and-ola-can-increase-salary-of-delivery-partners-and-drivers/articleshow/89180404.cms">There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers</a>

Reports of COVID-19 variant ‘NeoCov’ are spreading – Here’s what we know so far

<ul><li>The B2B e-commerce platform has raised $250 million in a series F round of funding led by <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Alpha Wave Global and <keyword id="4786885" type="General" weightage="20" keywordseo="ward-ferry" source="Orion">Ward Ferry</keyword>.</li><li>The e-commerce platform is now valued at $2.6 billion after the latest funding round.</li><li>Overall, the company has raised over $650 million to date.</li></ul><keyword id="3119222" type="General" weightage="20" keywordseo="Moglix" source="Orion">Moglix</keyword>, a Noida-based business to business (B2B) e-commerce platform, has raised $250 million in a new round of funding led by Tiger Global, Alpha Wave Global with Hong Kong-based Ward Ferry coming onboard as a new investor. The e-commerce platform is now valued at $2.6 billion after the latest funding round. The company also claims that undisclosed seed investors have seen a return of 80 times on their investment in this B2B commerce player. Notably, the company had raised its seed round in 2015-2016 from investment firm Accel, industrialist <keyword id="6360722" type="General" weightage="20" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> and others. Overall, the company has raised over $650 million to date. It is also backed by various other marquee global investors such as Sequoia, Accel Partners, International Finance Corporation, Harvard Management Company, and others. Rahul Garg, founder and chief executive officer (CEO) said, “We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector. Moglix will increasingly focus on growth driven by supply chain financing, acquisition of the right partners and global expansion.” In May 2021, the company also became the first B2B commerce unicorn in the manufacturing sector after raising $120 million. A unicorn, in startup parlance, is a private company that is valued at or over $1 billion. Moglix, founded by Indian Institutes of Technology (IIT) Kanpur and Indian School of Business (ISB) graduate Rahul Garg in 2015, is an e-commerce platform, which provides solutions to more than 500,000 small and medium enterprises (SMEs) and over 1000 large manufacturers across India and the UAE. It has a supply chain network of over 16,000 suppliers and over 40 warehouses. The company, which also recently crossed $100 million disbursal rate on its supply chain financing platform Credlix, works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-indian-government-can-help-zomato-swiggy-uber-and-ola-can-increase-salary-of-delivery-partners-and-drivers/articleshow/89180404.cms">There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/reports-of-covid-19-variant-neocov-are-spreading-heres-what-we-know-so-far/articleshow/89180852.cms">Reports of COVID-19 variant ‘NeoCov’ are spreading – Here’s what we know so far</a>

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Reports of COVID-19 variant ‘NeoCov’ are spreading – Here’s what we know so far

Vaamanaa Sethi

Moglix more than doubles its valuation in nine months

Vaamanaa Sethi

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