TECHNOLOGY
Auto Rickshaw Drivers Union in Bengaluru breaks up with Namma Yatri
A Namma Yatri spokesperson has said that the app represents the entire driver community and is not exclusively affiliated with any single union.
TECHNOLOGY
Cyclone Michaung: Brand Chennai takes a hit as production in key industrial units disrupted
Several SMEs belonging to the textile, auto parts, electronics, and other industries faced heavy losses due to flooding and lack of electricity. The supply chain is slowly limping back to normal.
TECHNOLOGY
AI startup Sarvam.AI bags $41 million in funding led by Lightspeed, Peak XV, others
The AI firm plans to use the funding to focus on India-specific offerings which includes training AI models to support the diverse set of Indian languages and voice-first interfaces
BUSINESS
Ola Electric reports Rs 2,782 cr revenue in FY23, targets Ebitda profitability by FY25
Ola Electric’s net loss has widened to Rs 1,472 crore which has doubled from Rs 784 crore it reported in FY22.
TECHNOLOGY
BNPL startup ZestMoney to shut down, to let go of remaining 150 employees
The move to shut down ZestMoney, which was last valued at $450 million, comes months after it raised fresh capital from Quona Capital, Omidyar Network India, Flourish Ventures, Zip and Scarlet Capital.
TECHNOLOGY
Cyclone Michaung: Chennai SaaS firms take precautions to keep business running, announce WFH for employees
In addition to flooding, Chennai is grappling with persistent power outages. Companies have devised a business continuity plan that entails relocating some operations from Chennai to other regions.
BUSINESS
Ex Paytm Money CEO Pravin Jadhav’s Dhan launches mutual fund distribution service
The company aims to provide an execution-only service for its half a million users to invest in zero commission direct plans of mutual funds.
BUSINESS
India’s E2W sales surpass 91K units in November as festive cheer continues
The rise in sales comes despite the reduction of the FAME subsidy from 40% to 15% in June of 2023
TECHNOLOGY
Krutrim will be an AI company, made for Indian customers using India's data resources: Bhavish Aggarwal
Krutrim Si Designs was launched in April of 2023 and sources say that it will compete with the likes of OpenAI and Google to as an AI Chat app.
BUSINESS
India’s top SaaS firms are gearing up their workforce for AI innovation blitz
Software service companies are leaving no stone unturned in gearing up for the AI wave that is hitting the industry. A big part of that is training their engineers to not just know AI, but build on top of it.
TECHNICALS
The era of operator founder: Why investors love executives leaving startups to start up
While a majority of the departing executives are going back into the ecosystem and starting a new business, a small portion of them have chosen to simply change their sectors. The remaining are going back to safety.
BUSINESS
Ather enters non-premium segment, will launch family scooter
Apart from the family scooter, Ather will bring in more variants of the 450X and 450S series by January 2024, co-founder Tarun Mehta has said
BUSINESS
Scapia raises $23 million led by Elevation Capital, Binny Bansal’s 3State Ventures
The company will use the funds to add more financial services to the platform, including personal loans and insurance, and also hire more talent in product and tech development areas
BUSINESS
Electric Mobility firm Baaz Bikes raises $8 million in Series A round led by BIG Capital
Baaz Bikes plans to utilise the funding towards expansion and to add more battery swapping stations.
BUSINESS
Fintech startup Kiwi raises $13 million in Series A led by Omidyar Network India
The fintech plans to utilise the funding to build its product and technology further and add more talent to its team.
BUSINESS
I would leave it to the individual: Infosys co founder Kris Gopalakrishnan on working 70 hours a week
Gopalakrishnan's words come at a time when Infosys founder NR Narayana Murthy's statement that youngsters should work 70 hours a week stirred controversy among India's netizens.
BUSINESS
VC funding plunges 40% YoY in October to $625 million as downcycle continues
Investors continue to sit on money as they adopt a wait-and-watch approach. However, early-stage remains top priority for many investors.
BUSINESS
PhonePe doubles down on financial services; CEOs appointed for lending, insurance and wealth businesses
PhonePe has also crossed 500 million lifetime registered users on its platform. PhonePe's UPI Total Payments Value (TPV) market share stood at 50.54 percent as of March 2023
BUSINESS
‘Q2 of FY24 will be PB Fintech’s last quarter of losses’, says CEO Yashish Dahiya
PB Fintech reported a consolidated net loss of Rs 21 crore for the September quarter of the current fiscal.
BUSINESS
Uniphore has early-mover advantage as there is secular demand for AI today: CEO Umesh Sachdev
The AI world will have more jobs but it will be different and the existing roles need reskilling, says Sachdev
BUSINESS
Chennai will be the AI hub of India soon, says Uniphore’s CEO Umesh Sachdev
The company has set up its first AI Innovation hub in Chennai and will be adding more workforce in the areas of data science, engineering, AI and research
BUSINESS
Angel One acquires fintech firm DStreet Finance to focus on GenZ engagement
Leading online stock brokers are increasingly focussing on education and content creation through videos especially in vernacular languages to reach younger users as well as users across tier III and IV cities in India.
BUSINESS
Festive season demand drives electric 2W sales to cross 70,000 in October
The overall EV two-wheeler penetration in the market grew 5.1% and Ola Electric maintained its top spot with a market share of 31%.
BUSINESS
Adoption of AI and automation will require 16.2 million Indian workers to upskill by 2027
India’s tech-hub Bengaluru is seeing the highest demand for tech talent specifically in Gen AI and automation, according to the report.
