BUSINESS
LTIMindtree CEO sees slowdown in discretionary spend-driven transformation programmes
The IT services firm is prioritising margin improvement, developing agentic AI use cases, and capitalising on the rising demand from global capability centres (GCCs), at a time of leadership shift from CEO Debashis Chatterjee to incoming chief Venugopal Lambu.
BUSINESS
Ultrahuman in talks to raise over $120 million from WestBridge Capital, others
Ultrahuman is firming up a new round after its talks with SoftBank for a $40 million fundraise did not go through. The ongoing discussions potentially value the company at around $550-600 million, sources told Moneycontrol.
TECHNOLOGY
'China’s rare earth curbs shouldn't impact us, our focus on local battery partnerships," says Ather's CEO Tarun Mehta ahead of IPO
Rare earth magnets are critical for the motors used in electric vehicles, and China is the dominant global supplier.
BUSINESS
Kedaara Capital, others negotiate deal to invest over Rs 500 crore in The Sleep Company
The Sleep Company is being valued at around $400 million, or about Rs 3,400 crore during the current negotiations, one of the persons cited above told Moneycontrol, a significant jump from $200 million in 2023.
BUSINESS
Zomato rejig: Rakesh Ranjan to step down as food delivery chief, CEO Deepinder Goyal to run operations
This is part of a scheduled shuffle that happens at Zomato every two years as it makes different senior executives lead separate verticals from time to time, sources told Moneycontrol. A few weeks ago, Zomato's food delivery COO Rinshul Chandra also quit the company.
BUSINESS
Flipkart board asks CEO Kalyan Krishnamurthy to slash spending as monthly cash burn hits $40 million
CEO Krishnamurthy has been tasked to cut the company’s cash burn to around $250 million a year, at a time when Flipkart has to become more aggressive with new business units, especially Flipkart Minutes, its quick-commerce arm.
BUSINESS
Infosys lets go off 240 more trainees who failed tests, offers free upskilling
Infosys has also extended free training to around 326 trainees who were let go in February after failing the assessment tests
BUSINESS
Why was UPI down for a few hours over the weekend
NPCI has advised banks and their partners to use transaction success checks only a limited number of times and at a specified frequency instead of flooding the system
TECHNOLOGY
This moment in AI is something that you just cannot miss: Perplexity’s Aravind Srinivas
In an interview with Chandra R. Srikanth from Moneycontrol, Srinivas delved into the fast-evolving landscape of AI innovation, India’s potential to build a strong deep-tech ecosystem, and tweaking Perplexity’s pricing for the Indian market.
BUSINESS
Deferring wage hikes prudent in current business environment: TCS CHRO Milind Lakkad
About 40 percent of freshers hired in FY25 had niche digital skills, including AI, compared to 17 percent hired in FY24, TCS CHRO has said
BUSINESS
Goldman Sachs-backed MoEngage to shift domicile to India ahead of possible IPO
The SaaS firm is evaluating a reverse flip to tap India’s favorable IPO environment, where listing thresholds are more startup-friendly.
BUSINESS
Rising Bharat 2025: I don’t plan Perplexity for more than three months, says CEO Aravind Srinivas
Srinivas also highlighted the challenge of building AI-native products and the balance between generality and user specificity.
BUSINESS
Rising Bharat Summit 2025: Tech-led trust helped us crack tier 2 & 3 India, says InsuranceDekho’s Aman Batra
InsuranceDekho is now looking to leverage technology to customise products by analysing the profile of customers.
TECHNOLOGY
GitHub COO Kyle Daigle on 'vibe coding' and why one should still learn to code in the AI era
In an interview, GitHub COO Kyle Daigle also spoke about what’s next for the Microsoft-owned developer platform and the future of AI-powered programming
BUSINESS
GitHub is adding one million developers in India every 3 months: COO Kyle Daigle
Student education will be a big focus area for GitHub in India, Daigle said. This includes helping high school and university students adopt AI-powered software development.
BUSINESS
Agentic AI startup Composio raises $24 million in Series A round from Lightspeed, Elevation and Together
The company, founded in 2023 by IIT-Bombay graduates Soham Ganatra and Karan Vaidya, focuses on simplifying complex enterprise workflows through AI-driven automation
BUSINESS
Unicorn alert! B2B startup Jumbotail nears $120 million funding round at $1 billion valuation
The larger entity’s fresh valuation of around $900 million is a significant markup from Jumbotail’s valuation of around $300 million in 2021 and Solv’s valuation of $200 million a few years ago.
BUSINESS
Fissures appear in Payments Council on letter to PM Modi on MDR without consultation
Some fintechs are miffed with Payments Council of India after it shot off a letter to PM on MDR without consultation. Such an aggressive public posturing on MDR could be counter productive, they said
BUSINESS
Paytm snaps ties with Juspay, joins Razorpay, Cashfree, PhonePe in industry-wide shift to direct processing
In a notification sent to merchants seen by Moneycontrol, Paytm announced that from April 1, 2025, it will only facilitate transactions routed directly through Paytm Payments Services Limited (PPSL), advising businesses to shift before the deadline to avoid service disruptions.
TECHNOLOGY
Lab-grown diamond jewellery startup Aukera in talks to raise $15 million in funding from Peak XV
The fresh capital will help the company scale its operations amid increasing competitive intensity in the India’s $2.6 billion LGD market. Existing backers, including Fireside Ventures, are expected to participate in the round.
BUSINESS
Meesho picks Morgan Stanley, Kotak and Citi as bankers for $1 billion IPO at valuation of $10 billion
Meesho is likely to command a valuation of $10 billion, a 2.5X increase from $3.9 billion last year. The company is expected to list on the stock exchanges around Diwali this year, outpacing Flipkart, sources told Moneycontrol.
BUSINESS
Pune-based SaaS firm Icertis to raise $50 million in fresh funding
Headquartered in Bellevue, Washington, Icertis operates additional offices across North America, India, and Europe. The firm was last valued at $5 billion.
BUSINESS
Minimalist’s ethos is transparency; it’ll stay intact under HUL ownership, says co-founder Mohit Yadav
While Yadav shed light on what typically changes for other brands after an acquisition, he is confident, from his conversations in the past several months, that HUL will not alter Minimalist’s perception and positioning which makes the acquisition deal even sweeter, he told Moneycontrol in an interview.
BUSINESS
Darwinbox set to hit $100 million ARR in 2025, expands focus on AI, US market
This comes a day after the firm announced raising $140 million in a funding round.
