TECHNOLOGY
'Godfather of AI' Yann LeCun on what 20-year-olds should do to thrive in the AI era
India must take greater participation in the research community, not just in engineering and product development, said Meta's chief AI scientist Yann LeCun
BUSINESS
Captain Fresh picks Axis Capital, BofA as bankers for $400 million public listing; prepares for pre-IPO fundraise
Captain Fresh is preparing to raise $50-60 million in a pre-IPO round led by existing investor Accel. Others like Tiger Global, BII and Prosus will also participate, sources told Moneycontrol.
TECHNOLOGY
AI pioneer Yann LeCun: India must embrace open source, invest in research to become an AI hub like France
In an interview to Moneycontrol, Meta's Yann LeCun expressed optimism about the benefits of artificial intelligence and calls out any harm arising from it as ‘science fiction’ at this point.
BUSINESS
A four-year-old has seen more data than an LLM: AI pioneer Yann LeCun
LeCun predicted that all human interactions with the digital world will soon be mediated by AI assistants
BUSINESS
Zomato founder Deepinder Goyal registers Continue, a longevity venture focussed on health tracking, mental wellness
To be sure, this is Goyal’s personal passion at this point. In a statement to Moneycontrol, a company spokesperson said, “Zomato isn’t venturing into any new space, and continues to focus on its four businesses.”
BUSINESS
Zepto likely to raise up to $150 million from Motilal Oswal, others in third funding round in 4 months
Of the $40 million that Motilal Oswal will invest, Raamdeo Agrawal, chairman and co-founder of Motilal Oswal, will put in around $15 million in his personal capacity and increase his stake in the company, sources told Moneycontrol. Agrawal is already an investor in Zepto.
TECHNOLOGY
UPI market share will balance out, but it will take more time than we initially envisaged: NPCI CEO Dilip Asbe
In an interview with Moneycontrol, Asbe said BHIM will become a formidable app in a couple of years, ruling out any conflict with other UPI apps. He further said that small merchants are not ready for MDR yet.
STARTUP
Licious to acquire My Chicken and More for Rs 200 crore and deepen offline play
As part of the acquisition, Licious will have an additional 22 physical stores which will give it an edge over industry peers like Zepto, Tata BigBasket and help it compete closely with legacy players like Venkys, Nandus and others.
BUSINESS
People took us seriously once Ratan Tata came on board: Startup founders and investors pay tribute to the legend
Ratan Tata’s bets have earned him handsome returns. While Upstox delivered a return of over 23,000 percent, an early bet on Lenskart reportedly gave him a 28X return on his investment. Similarly, Ola Electric and Firstcry, new-age companies that went public this year, gave him returns of 10X and 450 percent respectively.
BUSINESS
Ratan was a role model for me, losing a dear friend like him is very painful: Narayana Murthy's tribute to Ratan Tata
Murthy shared his tribute to Ratan Tata, who passed away on October 9th, 2024 at the Breach Candy Hospital in Mumbai at the age of 86.
COMPANIES
How Zomato plans to win events biz: Invest in stadium infra, hope Swiggy doesn't buy BookMyShow
Zomato was earlier the number three player in the events and ticketing business. But has now become number two, only behind BookMyShow, Goyal said
BUSINESS
MC Interview: Food delivery will have to change, 10-minute deliveries can be a gamechanger, says Zomato’s Deepinder Goyal
“We just stuck to our jobs and continued moving forward day by day. I can't see anything special we have done, to be very honest," Goyal tells Moneycontrol in an hour-long conversation in Bengaluru
BUSINESS
Swiggy IPO: Good for the sector to have multiple players, says Zomato’s Deepinder Goyal
Goyal, in an interview to Moneycontrol, said that navigating public markets is easier as companies get to think more long term and are not bound by weekly reviews by VCs
BUSINESS
Swiggy to sponsor Shark Tank Season 4, excludes Zomato founder Deepinder Goyal as part of deal
Swiggy’s bid to block Deepinder Goyal from Shark Tank underscores the intensifying rivalry between the two companies, which compete in food and grocery delivery.
BUSINESS
Is Zepto’s meat brand Relish on track to become a Rs 500 crore business? What the numbers say
Relish’s monthly sales were in the Rs 12-15 crore range from April to September which translates to an annualised revenue run rate (ARR) of Rs 144-180 crore, in contrast to Zepto’s recent comments on the vertical being a Rs 500 crore business, per internal documents accessed by Moneycontrol.
BUSINESS
Peak XV cuts fund size by $465 million, reduces partner payout amid market frenzy
Peak XV will now have a 2/20 compensation structure, with a provision to catch-up on carry to 30 percent, in a move that will bring the investor on par with its industry peers.
BUSINESS
Festive cheer: ONDC hikes monthly incentive payout by 50% to each network player in October
ONDC also recorded a 3.2 percent month-on-month growth in transactions in September to 12.90 million
BUSINESS
PB Fintech healthcare foray via separate entity, company will act as minority investor: Group CEO Yashish Dahiya
Dahiya said the new entity plans to acquire 6-8 hospitals in the NCR region. While it’s still too early to discuss specifics, he sought to clarify to prevent any misinformation that could lead to financial losses for investors
BUSINESS
BharatPe settles with Ashneer Grover, former co-founder will not be associated with BharatPe in any capacity
As part of the settlement, Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company, a BharatPe spokesperson said in a statement.
TECHNOLOGY
Unacademy appoints Abhishek Pipara as CFO of its offline centres business
Pipara will replace Pratik Dalal who joined Unacademy from CRED in January this year. He will focus on driving efficiency, unit economics, growth and profitability at a Centre level.
BUSINESS
Software and SaaS prices will come down, we are prepared for that world: Zoho CEO Sridhar Vembu
Zoho which is presently betting big on AI has already deployed several smaller models in enterprises. The firm's CEO also said that India needs to invest in our own foundational models in a cost-efficient manner.
BUSINESS
Curefoods in talks to raise $40 million in Series D round of funding, eyes IPO in 18 months
Existing backers such as Flipkart co-founder Binny Bansal are expected to participate in the new round in which Curefit Healthcare Private Limited is expected to sell its remaining 2 percent stake and exit the company
TECHNOLOGY
Mukesh Bansal’s Nurix AI bags $27.5 mn from General Catalyst, Accel
Nurix AI, which builds custom AI agents for enterprises, is the latest firm incubated by Mukesh Bansal's venture studio Meraki Labs
BUSINESS
Swiggy IPO filing likely this weekend, say sources
Swiggy recently upsized its IPO to $1.4 billion, amid intensifying competition in the online grocery delivery space, where its platform Instamart competes with the likes of Zomato-owned Blinkit, Zepto and Tata-owned BigBasket
