BUSINESS
IT companies see an uptick in digital transformation deals in FY25, signals growth recovery
The top four Indian IT companies, including Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro have signed 18 digital transformation deals in the last 7-8 months of FY25.
BUSINESS
Wipro to acquire IT consulting firm Applied Value Technologies for $40 million
The all-cash transaction is expected to be completed by December 31, 2024, according to regulatory filings on BSE.
BUSINESS
Green power installation startup SolarSquare raises $40 mn in Series B, led by Lightspeed Venture Partners
The fresh capital raised will be used to expand the startup’s presence from 20 cities to 50 cities in the next two years, building its tech stack, hiring and branding.
BUSINESS
Microsoft India’s profit rises 38% in FY24 at Rs 898 crore, revenue up 18%
Microsoft India’s advertising promotional expense declined by 13.77 percent YoY to Rs 320.80 crore.
BUSINESS
MC Interview | On Aptos, 7 out of top 10 applications are from Indian founders: CTO Avery Ching
L1 blockchain startup Aptos plans to double down on its India investment, after seeing nearly 6.5 million out of its 8.5 million total monthly active addresses coming from India, Ching said.
BUSINESS
India will account for 20-30% of the next billion Web3 users: Soneium’s Sota Watanabe
‘Soneium’ is the consumer focused blockchain being developed by Sony Block Solutions Labs, a joint venture between Sony Group and Startale Group.
BUSINESS
Bitcoin crossing $100,000 an inflection point, crypto is here to stay, says Aptos co-founder Avery Ching
'People need to get on to the Bitcoin bandwagon because it's going to be a big part of our future as a society,' Ching, a prominent Web3 industry name, tells Moneycontrol
BUSINESS
Web3, crypto regulatory proposals take centre stage at India Blockchain Week
According to a Hashed Emergent report, the first nine months of 2024 saw funding activity into Web3 startups grow by 82 percent YoY to $462 million, a significant improvement from $254 million in the full year of 2023.
BUSINESS
Tech Mahindra expects double-digit growth from GCC customers in India
The IT services company is seeing robust demand from MNCs' captive units for outsourcing skilled talent, engineering research & development (ER&D), and even developing newer solutions in partnership, especially in areas like AI and generative AI.
BUSINESS
HCLSoftware bets big on India's AI push, sovereign cloud systems
HCLSoftware is developing a Software-as-a-Service (SaaS) transaction platform for Open Network for Digital Commerce (ONDC).
BUSINESS
Global AI Conclave: Capital needed for Robotics and AI startups huge, India doesn’t have that kind of funds today, says ARTPARK co-founder Umakant Soni
Soni and Bharadwaj Amrutur, the executive director of ARTPARK and professor at IISc also spoke about the need for building foundational large language models (LLMs) in India
BUSINESS
Global AI Conclave: Govt should play an enabling role, set up AI ministry, says Inception COO Koshy
Suggesting India take a cue from UAE, Ashish Ipe Koshy said the government’s move to set up an AI ministry six years ago turbocharged a lot of startups
BUSINESS
Global AI Conclave: India needs to build frugal LLMs, has to opt for ‘heterogeneous’ architecture, says Intel’s Santhosh Viswanathan
Viswanathan suggested that India will need to focus on a ‘heterogeneous’ architecture to develop LLMs frugally, which will involve a combination of CPUs, GPUs and LLMs and small language models (SLMs) depending on the use case required.
BUSINESS
IPO-bound CarDekho’s fintech arm Rupyy looks to disburse Rs 900-1,200 cr in used commercial vehicle financing in FY25
Started in April 2024, Rupyy’s used commercial vehicle lending business has already disbursed Rs 300 crore in loans. The fintech also plans to foray into SME and MSME loans in the next two-five years.
BUSINESS
Silicon Valley investor Tim Draper stuns his India team as Bengaluru traffic snarl looks ‘beautiful’
Draper scouts for innovative early stage startups in collaboration with TiE Mumbai across six Indian cities
BUSINESS
There’s no reason why Bitcoin won’t go up 30X from here, says legendary investor Tim Draper
Draper has invested in over 50 crypto companies till date, and led investments in Coinbase, Ledger, Tezos, and Bancor, among others.
BUSINESS
'Elon Musk is a gift from the gods, he’s extraordinary,' says legendary investor Tim Draper
Draper is an early backer of Musk’s Tesla and SpaceX. He believes that Musk is going to the perfect fit to lead the Trump Cabinet's Department of Government Efficiency.
BUSINESS
China will flatline, India to cross China pretty quickly: Legendary investor Tim Draper on Trump, Elon Musk, Bitcoin
"Elon Musk's extraordinary. I think the idea of a government efficiency expert is really great. I do think that there is a major opportunity the US has right now economically to really bring back freedom and trust into the country," Draper told Moneycontrol in an exclusive interview.
BUSINESS
Crisis at Bitbns? User funds stuck, deep discounted crypto prices, banking challenges
Users' investments, ranging from Rs 20,000 to Rs 1.5 crore, have been stuck with the exchange for months. While Bitbns is allowing deposits and trading on the platform, users have been unable to withdraw their funds. Bitbns CEO Gaurav Dahake said that arbitrary freezes on bank accounts by LEAs has impacted its ability to process user withdrawals.
BUSINESS
TCS cuts variable pay at senior levels for July-September quarter on tepid demand
According to sources, while some employees got only about 20-40 percent of their quarterly variable pay out, others even got zero percent despite adhering to the company's compulsory work from office policy.
BUSINESS
Hurun Philanthropy List: HCLTech's Shiv Nadar is India's most generous, Reliance Industries has the highest CSR spend
Shiv Nadar Foundation Institutions donated Rs 2,153 crore in FY24, which amounts to Rs 5.9 crore a day
BUSINESS
Under Trump 2.0, possible corporate tax cuts could boost IT demand
President-elect Trump’s idea of lowering corporate tax to 15% for specific companies could spur additional capital for investing in technology.
BUSINESS
Decentralised exchange, profit sharing, tokenisation – WazirX chalks out fund recovery strategy after $230-million hack
Nischal Shetty, founder and CEO of WazirX said he is expecting to restart the exchange platform by February 2025.
BUSINESS
US Elections: Bitcoin crosses $75,000 as Trump claims victory, Indian crypto exchanges see surge in trading volumes
Trump has been endorsing digital assets during his campaign run and even promised to make US the 'crypto capital of the planet'
