BUSINESS
ICE is 'dead technology', Indian two-wheeler makers should grab global EV market: G20 sherpa Amitabh Kant
Ather Community Day 2024: Kant said institutions such as IITs and IIITs should work towards making skilled manpower for the EV industry.
BUSINESS
Accel-backed BrowserStack dragged to court by US-based rival Deque Systems
According to Deque Systems' complaint, BrowserStack entered the accessibility testing market in 2023 with a replica of Deque's proprietary accessibility testing product.
TECHNOLOGY
SingleInterface bags $30 million from Asia Partners, PayPal Ventures
The startup was founded in 2015 by Tarun Sobhani and Harish Bahl, the founder of Smile Group
TECHNOLOGY
Freshworks' VP and India head Karthik Rajaram quits, joins Elastic India
Just a month ago, Freshworks' chief revenue officer Pradeep Rathinam resigned from the firm he had joined in 2020
TECHNOLOGY
Namma Yatri mends partnership with Bengaluru autorickshaw drivers union
The move comes four months after Bengaluru’s Autorickshaw Drivers Union parted ways with the mobility app Namma Yatri over internal differences.
TECHNOLOGY
SoftBank-backed JusPay hives off Namma Yatri, registers it as 'Moving Tech Innovations Limited'
This move will benefit Namma Yatri in raising funds from venture capital investors to develop infrastructure and technology. It will also ease the difficulties involved in running different businesses simultaneously
TECHNOLOGY
Alteria Capital announces final close of fund III venture debt scheme at $195 million
Alteria has also launched a new 'shorter duration scheme', which is open for subscription and will likely take the total size of Fund III to $250-$300 million by the end of 2024
TECHNOLOGY
Bengaluru-based EV ride-hailing startup Shoffr raises $1 million from its users
The startup will use the funds to expand the team, grow sustainably and bring the Shoffr experience to more people, co-founder Vikas Bardia has said
TECHNOLOGY
Gen AI-related revenue for SaaS and IT firms to touch $1.3 trillion by 2033: Report
The report by Upekkha and WestBridge Capital has also estimated that out of the total $1.3 trillion of revenue, Indian SaaS firms will generate around 5-10% of revenue
TECHNOLOGY
Binny Bansal invests an additional Rs 200 crore in Curefoods taking the round size to Rs 500 crore
The firm will likely use the funds for offline expansion of its brands Nomad Pizza and Sharief Bhai Biryani.
BUSINESS
Ola Money to shift to limited KYC wallet from April 1
The move comes at a time when the banking regulator RBI has been cracking down on fintechs for KYC non-compliance
TECHNOLOGY
Top ride-hailing firms experiment with subscription models to retain drivers and tackle competition
After Namma Yatri launched a subscription model for drivers to sustain its no-commission strategy, Ola, Uber, and Rapido have also begun testing similar features.
TECHNOLOGY
Tiger Global-backed fintech Jar to enter P2P lending business with Jar Plus
Jar Plus, the firm’s P2P lending product is currently in the testing phase and is in partnership with NBFC LendDenClub.
TECHNOLOGY
Freshworks' Girish Mathrubootham calls AI 'Monster Wave', similar to web browser era
Mathrubootham urged startups to integrate and upgrade their products with AI to stay relevant.
TECHNOLOGY
Sarvam AI to unveil its 1st commercial voice-to-voice endpoint tool with 10 Indian languages in next 6-12 months
Startups and businesses that are looking to build or use voice experiences as part of their services can tap into this tool, especially in Indian languages.
TECHNOLOGY
IndiGo promoter Rakesh Gangwal invests $20 million in B2B unicorn Zetwerk
Zetwerk was last valued at $2.8 billion and Gangwal will be investing through Wheelhouse Venture Capital and with that, he joins as a financial investor of the firm.
BUSINESS
Gen AI spending by enterprises to touch $200 bn by 2030, shows SaaSBoomi and McKinsey study
The study has also said that the penetration of Generative AI within enterprises will be 3 times faster than SaaS penetration.
BUSINESS
IIT-Madras’ lab AI4Bharat launches IndicVoices dataset covering 22 languages
Using IndicVoices, AI4Bharat aims to build IndicASR, the first Automatic Speech Recognition (ASR) model to support all the 22 languages listed in the 8th schedule of the Constitution of India.
TECHNOLOGY
Zoho to invest Rs 1,105 crore for Saudi Arabia's digital infra development
Zoho Corp has also allocated Rs 221 crore for SMEs in Saudi Arabia wherein the companies can utilise the amount in wallet credits yearly for the next 10 years, to access Zoho's cloud applications for training.
BUSINESS
India’s electric two-wheeler sales cross 80k units in Feb 2024, up 24% YoY
Industry observers reckon that the registration numbers indicate of 'market stabilisation' despite the govt’s move to lower the incentives under the FAME scheme Phase II
BUSINESS
Yes Bank to tighten compliance process for fintech partnerships says CEO Prashant Kumar
Post the regulatory clapmdown on Paytm Payments Bank, several banks have tightened the complaince and due-diligence process on their fintech partnerships to ensure there are no regulatory lapses.
TECHNOLOGY
Yes Bank open to acquiring the merchant accounts of Paytm Payments Bank: CEO Prashant Kumar
Kumar said that there will be a proper KYC compliance process which will be undertaken by the bank if they succeed in acquiring these merchants.
TECHNOLOGY
Capillary Technologies raises $95 million in extended Series D round
In June of 2023, Capillary announced raising funding in a mix of debt and equity from Avataar Ventures, Filter Capital, and Innoven Capital.
TECHNOLOGY
When Fintechs met FM: No mention of Paytm, Nirmala Sitharaman lends a patient ear & more
One of the main outcomes of the meet was that there will be monthly calls between the regulator and fintechs wherein, the latter can seek clarity on any regulations and get feedback.
