Quick commerce companies quizzed by government over FDI, operating model

Senior executives from Blinkit, Swiggy Instamart, Zepto, and Bigbasket met with Indian government officials. They discussed warehouse ownership, compliance with FDI norms, and the impact on kirana stores. The officials expressed concerns about delivery safety and competition for small shops. Representatives argued their services supplement demand. Quick commerce firms are growing rapidly and raising capital.

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West Virginia awards $5 million grant to Catholic college for expansion and think tank

The West Virginia Water Development Authority approved a $5 million grant to the College of St. Joseph the Worker, an Ohio-based Catholic college, to expand into the state. The grant will fund vocational training, a satellite campus, and a conservative think tank. While the project is set to benefit the region's workforce, it has raised concerns due to the lack of a required recommendation from state officials and the college’s focus on political advocacy, reports the Herald Star.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Companies grapple with costs, complexity of overlapping cybersecurity laws

India's digital economy faces increasing compliance burdens due to overlapping cybersecurity laws from various regulatory bodies. Companies are challenged with inconsistent requirements in breach reporting, audits, and vulnerability assessments. Experts call for harmonization under a single governance body to reduce complexity and costs, especially urging the Data Protection Board under the DPDP Act to take on this role.

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Small language models set to be the next big thing in AI

Large language models (LLMs), SLMs can generate human-like language but are trained on smaller datasets with fewer parameters. They are said to be easier to train and use, consuming less computational power, more cost-effective, and better suited for specific tasks. The year 2024 saw launches of a slew of lightweight models, from Microsoft’s Phi family of SLMs to Google’s Gemma and a smaller variant of Meta’s Llama model.

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Musk effect: Behind Trump's changing stance on H-1B visas

Trump supports immigration visas for high-skilled workers amid H-1B visa controversy, backing Elon Musk. Despite restrictions during his first term, he now acknowledges the US engineering talent shortage. Trump emphasises the economic contribution of foreign graduates from US universities. Online racist remarks against Indian-origin CEOs and Musk's response highlight ongoing tensions.

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Brands ride ‘quick’ sleigh as quick commerce dons the Santa hat

The Christmas gifting season saw a 20-30% sales boost for D2C brands in categories such as personal care, desserts, eatables, and activewear, driven by convenience, personalization, and premium offerings. Quick commerce platforms like Zepto, Blinkit, and Swiggy Instamart, among others, played a key role in fuelling gifting-focused sales, enabling last-minute purchases, according to several brands.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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AI specialists hit pay dirt as talent war rages

Companies will compete aggressively to hire AI talent, increasing salaries by 15-20% in the next 12-18 months. AI demand is expected to double by 2027. Firms must offer competitive packages, upskilling, and career opportunities to attract top AI professionals. Salaries for AI jobs are already 30% higher than traditional IT roles.

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Centre eyes January start to India AI datasets collection, aggregation

The ministry of electronics and information technology also plans to allow the trained data to be used by domestic startups and companies to build application programming interfaces, which can interact with the language models built on top of the database and provide specialised services, a government official said.

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UPPSC PCS Prelims Answer Key 2024 out, raise objections by Dec 30: Direct link here

UPPSC PCS Prelims Answer Key 2024: The UPPSC released the 2024 PCS Prelims Answer Key for General Studies Papers 1 and 2. Candidates can review the answer key on the official website and raise objections until December 30, 2024. The prelims concluded peacefully with around 42% attendance. Here's the direct link to login.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Year in Review: EVs lose the funding race as investors drive a hard bargain

India’s electric vehicle sector funding halved from $934 million in 2022 to $586 million in 2024. Policy changes and reduced subsidies impacted original equipment manufacturers. Sales growth slowed but the sector still expanded with over 1.9 million EVs sold in 2024. Investors see opportunities in component manufacturing, charging infrastructure, and battery swapping.

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Cloud kitchen firms cut their losses to cook up healthy numbers

India's cloud kitchen startups achieved revenue growth and reduced losses in FY24 by managing expenses. However, high inflation may impact margins this fiscal year. Rebel Foods, Curefoods, Biryani by Kilo, and Freshmenu showed significant improvements. Zomato and Swiggy's food delivery GOV also grew, with a positive industry outlook despite rising costs.

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Women in tech; IT hiring revival

India's tech industry has seen a surge of women leaders. This and more in today’s ETtech Morning Dispatch.

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No wonder! Women blast through global tech's glass ceiling in India

The global capability centre (GCC) boom in India has helped women to assume leadership positions. About 25% of the women employed in the technology sector are in GCCs and the figure is expected to rise to 27% by 2027, industry data shows. Kumar Rajagopalan, vice president at staffing firm Dexian said that while the trend of appointing women to leadership positions is noteworthy, it cannot stop there.

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Meta is in a spot of bother as ChatGPT comes to WhatsApp

ChatGPT creator OpenAI has launched its own WhatsApp account. This is likely to impact Meta AI’s reach, especially in markets such as India, Brazil and Mexico, which are among the largest user bases for WhatsApp and the mainstream communication medium for businesses.

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Microsoft works to add non-OpenAI models into 365 Copilot products, sources say

Microsoft is integrating internal and third-party AI models into its Microsoft 365 Copilot. This aims to reduce dependence on OpenAI and cut costs. The company is working to customize other open-weight models for better efficiency. Microsoft tracks these efforts closely, aiming for cost-efficiency and potentially passing savings to customers.

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Accenture quarterly numbers point to strong GenAI prospects

Accenture's latest earnings boost Indian IT sector outlook. GenAI bookings hit a record high. North American demand shows signs of recovery. The company raised its FY25 growth forecast. Indian IT firms expect strong Q3 results and a robust FY26. Accenture's hiring continues to grow, mostly in India.

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VCs bullish on AI startups in India despite a fall in funding

Indian AI startups saw a funding dip in 2024, but deal volume increased, with a focus on application-layer ventures. Investors are optimistic about this trend, particularly for applications targeting the US market, mirroring the enterprise software sector. While foundational models remain a US stronghold, India sees opportunities in infrastructure and applications, despite challenges in talent acquisition and rapidly evolving technology.

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Central Government Sanctions Rs 85 Crore for Higher Education Projects in Jammu & Kashmir

The Central government has sanctioned Rs 85 crore for nine higher education projects in Jammu & Kashmir under the PM-USHA program. This funding will support infrastructure development at Baba Ghulam Shah Badshah University and three degree colleges, and construct five new girls' hostels in focus districts.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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CBSE hosts National Adolescent Summit 2024, focusing on life skills and mental health of students

The Central Board of Secondary Education (CBSE) successfully organised the National Adolescent Summit 2024 on December 20-21 at the National Bal Bhawan, New Delhi. Themed "Life Skills, Mental Health, Safety, and Well-being," the two-day event brought together over 850 participants from India and abroad, fostering dialogue and collaboration on critical adolescent issues. Aligned with the vision of the National Education Policy (NEP) 2020, the summit provided a platform to empower students and educators, promoting holistic development, said a press release from the Secretary, CBSE.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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The (Mona) Lisa effect: AMD's transformation since CEO Su's takeover

In the chip-making business, AMD was languishing as Intel hogged the limelight, and market share, for most of the last 50 years. But the chipmaker’s fortunes have turned around since Lisa Su took over as CEO 10 years ago. In 2014, AMD's share in the data-centre chip market was negligible; however, today, the company has achieved stronger margin growth and ranks second only to Nvidia in the graphics processing unit (GPU) market.

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Accel nears close of new India fund at $650 million

Accel India has secured $650 million for its eighth fund, while its global growth fund has raised $1.35 billion. A portion of this will be invested in pre-IPO rounds of Indian startups, bringing Accel's total India commitments to nearly $3 billion. This move comes as several Accel-backed companies, including Bluestone, are preparing for IPOs.

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Google Layoffs: Sundar Pichai announces major job cuts in these top roles amid threat from OpenAI

Google has announced major job cuts in managerial roles, CEO Sundar Pichai said in an all-hands meeting on Wednesday. Google's CEO said it had cut managers, directors, and VPs by 10% as part of its efficiency drive. The company has been boosting efficiency by reducing layers and reorganizing teams. The move comes amid threats from OpenAI and other AI rivals.

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TCS to increase fresher hiring further in FY26, says CHRO Milind Lakkad

TCS is poised to amplify fresher hiring from engineering campuses in FY26, exceeding the current fiscal year's 40,000 target. This expansion aligns with positive growth projections and a resurgence in campus recruitment. The company is also bolstering its higher cadre workforce and investing in training programs, including AI and GenAI skills development, to meet evolving industry demands.

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AI's energy hunger fuels geothermal startups but natural gas rivalry clouds future

Geothermal energy startups are gaining traction as tech giants like Google and Meta seek clean energy for their data centres. However, significant upfront costs and competition from natural gas, championed by oil majors, pose challenges to widespread geothermal adoption despite growing interest and government support.

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CAT 2024 Result declared, check direct link here

IIM Calcutta has declared the CAT 2024 results on iimcat.ac.in. The exam, held on November 24 at 389 centers, lasted 120 minutes. Response sheets and provisional answer keys were released on November 29, with objections accepted until December 5. The final answer key was published earlier this week.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Deep-tech startups must explore alternative funding options, says VC report

Indian deep tech startups have seen a 5.3 times increase in average seed check size over the past eight years, fueled by government initiatives and VC confidence. However, alternative funding is crucial to navigate initial challenges. While the sector is nascent, fostering exits is vital for building investor trust and driving future growth.

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Space Bill draft to be put up for stakeholder consultation in Q1 of FY26, says IN-SPACe chairman

This bill is envisioned to cover international and national obligations, define offences and subsequent punishments, barrier of entry for private companies, and liability for damages caused. Pawan Goenka, chairman of IN-SPACe, said that the venture capital fund announced in the Union Budget for space startups will also become operational by the first quarter of the next fiscal year.

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We plan to have a significant ramp up in India: Krafton CEO CH Kim

The CEO said that the company has invested up to $170 million in gaming and gaming adjacent industries as well as consumer industries that are based on IT and tech. They are planning to invest $140 million more in the future as well. It is also increasing its focus on proprietary games in India, such as BGMI, Bullet Echo India, Road To Valor Empires, and others.

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From digital to doorstep, insurtech startups take the offline route, will it work?

Indian insurtech startups, initially focused on online sales, are now rapidly expanding their networks of physical agents. This shift, driven by competition and the pursuit of market share, raises concerns about commission-driven growth, sustainability, and potential regulatory scrutiny. The industry faces challenges balancing growth with profitability and navigating the evolving insurance landscape.

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ETtech Explainer: What’s behind the Rs 803-crore GST demand on Zomato?

Indian food delivery giant Zomato received Rs 803 crore GST notice. The government says Zomato should pay tax on delivery fees. Zomato argues it passes fees to delivery workers. This dispute covers October 2019 to March 2022. Zomato plans to fight the demand. A similar notice was sent to Swiggy. This case could impact other delivery services.

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Exotel’s FY24 loss narrows to a third, operating revenue up 6%

Exotel, a cloud telephony provider, narrowed its FY24 net loss to Rs 39 crore while achieving Ebitda profitability in the last two quarters. The company prioritized operational efficiency and product development, including AI offerings, over rapid expansion after integrating acquisitions. Exotel projects 100% Ebitda growth for FY25, driven by improved sales execution and expansion in markets like the Middle East.

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Big-bracket investments push states to create social infrastructure

Indian states are bolstering social infrastructure around large electronics manufacturing facilities to support the growing workforce. Initiatives include housing, shopping complexes, recreational spaces, and essential amenities, mirroring successful models in China and Taiwan. This aims to attract investment and enhance the sector's growth.

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Uttarakhand school apologises after girl forced to remove tilak

A Class-8 student in Uttarakhand was asked by her teacher to remove a tilak from her forehead before entering the classroom, claiming it was not allowed. The student complied but later informed her parents, sparking a protest by Hindu groups. The protest led to the school's principal apologizing to the girl's family and the groups. The Director General of School Education has ordered an investigation into the incident.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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India’s power surge

The country’s electronics manufacturing sector is set to be strengthened through a major government initiative that will spur the components ecosystem. Experts maintain that India's next step would be to work on increasing the domestic value addition and develop the almost non-existent electronic component supply base. Let's take a closer look at this initiative and what this entails going forward.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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RS Sharma steps down as ONDC non-executive chairperson

Ram Sewak Sharma stepped down as non-executive chairperson of Open Network for Digital Commerce (ONDC) due to personal reasons. He remains on the advisory council. The ONDC board will seek a new chairperson as the network expands and gains interest from various states.

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One Card secures $25.5 million from QED Investors, BTV, Peak XV Partners and Z47

FPL Technologies has raised $262 million in equity funding over multiple funding rounds. The fresh funds will be used for enhancing its technology infrastructure and invest in the development of new products by collaborating closely with regulated entities like banks.

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Intel executives say a manufacturing spinoff is possible

Intel's interim co-CEOs acknowledged the possibility of selling the company's manufacturing operations if its new 18A chipmaking technology fails next year. This comes after the recent ouster of former CEO Pat Gelsinger and a significant drop in the company's value. While Intel is separating its manufacturing division financially, the executives remain uncertain about a complete split.

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Small cities, towns to drive next round of GCC expansion

Cities such as Ahmedabad (GIFT City), Kochi, Coimbatore, Chandigarh, Thiruvananthapuram, Jaipur, Visakhapatnam, Vadodara, Nasik, Bhubaneswar and Indore are expected to benefit from this expansion. GCCs are expected to grow in these cities due to factors such as growing tech talent pools, favourable government policies, operational efficiencies, lower costs of living than in big cities, and hybrid work models.

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Supreme Court won't decide Nvidia securities fraud case after all

The Supreme Court dismissed a securities fraud lawsuit against Nvidia, citing it had been a mistake to take up the case. The justices expressed difficulty evaluating the technical arguments and left in place an appeals court decision allowing the case to proceed. This follows a similar dismissal in a case against Facebook.

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GCCs may receive sops to set up units in tier-2 and 3 towns

India is planning a new policy to boost global capability centres. The policy will offer incentives like tax breaks. It aims to attract GCCs to smaller cities. The government wants to develop large and small GCCs. The GCC market is expected to grow significantly. The policy will also focus on talent development in areas like AI.

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Higher borrowing costs leave a strain on new-age NBFC profits

New-age non-banking finance companies (NBFCs) witnessed declining profits in the September quarter. Increased borrowing costs and tighter lending conditions, particularly in the unsecured loan segment, impacted profitability. While some NBFCs maintained flat profits, others reported losses, prompting concerns about a potential shift back to informal financing channels for some borrowers.

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Reverse flip in cart, Flipkart plans IPO delivery in 12-15 months

Flipkart, India's leading e-commerce giant, is gearing up for a landmark IPO within the next 12-15 months. The Walmart-owned company has initiated the process by shifting its domicile to India, aiming for a public listing by late 2025 or early 2026. ET was the first to report on May 13 about Flipkart’s plans to move its parent company back to India.

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Open dialogue and collaboration can drive regulations that ensure safety and foster crypto innovation: Bitget COO Vugar Usi Zade

Bitget's COO, Vugar Usi Zade, revealed plans to secure Indian government approvals and open a local office by New Year. Zade discussed Bitget's India growth strategy, the potential impact of the Trump presidency on crypto, and the evolving role of crypto in a post-AI world, emphasizing the importance of balanced crypto regulations and highlighting Dubai's emergence as a crypto hub.

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US spending on TikTok Shop gains as TikTok faces threat of ban, data shows

A US federal appeals court on Friday upheld a law requiring Chinese-based ByteDance to divest TikTok in the US by early next year or face a ban. A ban of the popular short video app, if it happens, could extend to TikTok Shop, too.

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Bluesky is different from X for now

On social media, the political is personal; migrating Bluesky users are signaling political separation from an increasingly conservative X and giving up on the idea of a town square that holds all voices simultaneously.

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Paytm to add Rs 2,364 crore to its kitty through sale of PayPay shares

On Saturday, in a stock exchange filing, the Noida-based fintech announced that the shares will be transferred to SoftBank Vision Fund 2. The deal values PayPay at 1.06 trillion Japanese yen (approximately $7 billion). This comes after Paytm divested its entertainment and ticketing business Paytm Insider to Zomato for Rs 2,048 crore.

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US regulator places Google Payment under supervision, company sues

The regulator's step and the subsequent lawsuit marked a government tussle with a Silicon Valley behemoth in the final weeks of President Joe Biden's administration. The regulator's move could be reversed after President-elect Donald Trump returns to the White House in January.

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AI triggers boom in flexi-work options for technology professionals

Skilled tech professionals, particularly in AI, are increasingly choosing freelance work, commanding high hourly rates on platforms like Upwork and Appen. Indians are prominent, offering competitive rates while demand for AI skills like data annotation and training surges. This shift allows workers flexibility and higher earnings compared to traditional employment.

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Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows

Walmart, Shein, and Temu achieved record-breaking Black Friday and Cyber Monday sales, outperforming struggling retailers like Target and Best Buy. Amazon also saw strong growth, driven by popular items like Fire TVs and Shark vacuums. Temu and Shein experienced double-digit percentage growth, while Best Buy faced sales declines despite investor optimism.

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Crypto chaos: WazirX hack leaves investors in financial turmoil

A July 18 hack on cryptocurrency exchange WazirX wiped out $235 million, affecting 15 million investors. Victims face financial ruin, anxiety, and legal uncertainty as stolen funds are laundered. WazirX pledged partial repayment but set a controversial cut-off date, enraging investors amid rising crypto values. Ownership disputes, transparency issues, and legal grey areas exacerbate challenges for affected users seeking recourse.

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Jewellery retailer Bluestone plans to raise Rs 1,000 crore in fresh capital

Bluestone’s board has approved an IPO to raise Rs 1,000 crore, with filing expected soon. Proceeds will fund offline store expansion. Founded in 2011, it reported Rs 1,265.8 crore revenue in FY24 and aims to grow its retail footprint to 400 stores.

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Meta pushes zero-carbon energy strategy with solar deal

Meta inked deals with Invenergy for 760 megawatts of solar power across four US states, boosting its renewable energy portfolio to over 1 gigawatt. This move supports Meta's goal of 100% renewable energy operations, fueled by increasing energy demands from AI adoption. The solar facilities are expected to be operational between 2024 and 2027.

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Swiggy’s Instamart pushes for higher average order value; analysts say metric's growth key to improve profitability

Swiggy Instamart's average order value (AOV) of Rs 499 has come in low compared to its competitors like Blinkit and Zepto. Although the company has indicated that its AOV is in an upward path, analysts have emphasised the need for the quick commerce platform to push this metric to sustain revenue momentum and maximise profitability.

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Allen Institute held talks to acquire Unacademy valuing edtech firm at $800 million in a cut-price deal: sources

The Bengaluru-based Unacademy, valued at $3.4 billion in 2021, will likely be merged with Allen; founders expected to exit. The edtech company has around $160 million of cash in the bank but revenues have been flat after the highs of Covid-19 even as its pivoted to an offline model.

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Judge faults Apple for withholding documents in Epic Games case

A US judge ruled that Apple misused attorney-client confidentiality to avoid disclosing documents in Epic Games' lawsuit regarding App Store practices. Apple must release withheld documents, as attorney-client privilege claims were deemed improper for certain business decisions. This ruling follows accusations by Epic of Apple's non-compliance and broad privilege claims.

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Black Friday weekend sales grow 17-18% on year for ecommerce players

Direct-to-consumer brands and ecommerce marketplaces saw a 17-18% rise in Black Friday order volumes compared to last year, with beauty, wellness, personal care, and home decor driving sales. Gross merchandise value grew over 24%, boosted by festive excitement. Higher average order values were noted in wearables, fashion, and electronics. India embraced the trend with growing consumer interest.

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Apple accused of silencing workers, spying on personal devices

Apple faces a lawsuit accusing it of illegally monitoring employees' personal devices and iCloud accounts while restricting discussions about pay and working conditions. Filed by Amar Bhakta, the suit claims Apple requires software installation on personal devices, enabling access to private data. Apple denies the allegations and asserts its commitment to employee rights.

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ETtech Explainer: Behind PhonePe call to end third-party deals

PhonePe will offer payment solutions directly to merchants, ending partnerships with payment aggregators like Juspay. This move may help merchants save on transaction fees. Juspay, with a new license, will provide full-stack services. The move reflects a trend of payment aggregators building in-house routing technologies for direct merchant integrations.

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Banks boost fraud checks; AI & relationship apps

Happy Monday! Banks intensify checks to tackle rising employee-linked fraud and financial scams. This and more in today’s ETtech Morning Dispatch.

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IT outlook is positive, weakness in stock price to be temporary, say analysts

India's $254 billion software services industry sees temporary weaknesses in stock prices likely caused by US inflation concerns but maintains a positive outlook. Experts predict business growth and an uptick in technology spending as the economic policies of the Trump administration clarify and rate cuts commence.

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SSC Stenographer Admit Card 2024: Exam city slip released for Grade C & D recruitment, direct link here

The Staff Selection Commission (SSC) has released the exam center city slips for the SSC Stenographer Examination 2024, scheduled for December 10 and 11. With 2006 vacancies, candidates are urged to download their admit cards from the official SSC website. The recruitment includes a Computer-Based Examination followed by a Stenography Skill Test for qualified candidates.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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UPI reigns supreme in digital payments kingdom

While UPI grew the fastest among all merchant payments modes, credit cards saw a 35% increase in transactions in October to 433 million transactions, compared to around 320 million a year ago, data released by the Reserve Bank of India (RBI) showed.

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Engineering sustainability for enduring success: Navigating the path to industry 5.0

The time is ripe for engineering services providers and their end customers to broaden the use of renewable energy, drive water conservation measures, reduce carbon emissions, and develop Net Zero products. A continued commitment to sustained R&D into smart engineering products and solutions will go a long way in underscoring a commitment to a greener, cleaner, and better world.

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CAT 2024 provisional answer key to be out on December 3, check official notice here

IIM Calcutta will release the CAT 2024 provisional answer keys on December 3, 2024, at iimcat.ac.in. Candidates can check and download them from the website. Objections can be raised from December 3 to December 5, 2024, as per the official notice. This allows candidates to address discrepancies before final results are declared.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Curbing cyber fraud: RB(A)I wants more banks to join hunt for mule accounts

The Reserve Bank Innovation Hub is collaborating with banks to use its Mulehunter.AI tool to detect financial fraud through mule accounts. This AI-powered tool has already shown better accuracy and efficiency than manual methods. The initiative aims to enhance technology in the banking sector and prevent cyber fraud, aligning with the government's emphasis on digital literacy.

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Australia PM says social media firms now have a responsibility to protect kids

Australian Prime Minister Anthony Albanese emphasized the responsibility of social media platforms to protect children after parliament approved a bill banning those under 16 from using the services. Tech giants like Meta and TikTok face hefty fines for non-compliance, with enforcement trials beginning in January and the full ban expected in a year.

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Govt for fair AI development; Google in CCI crosshairs

Happy Friday! The government is leading multiple projects to foster responsible growth of AI. This and more in today’s ETtech Morning Dispatch.

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MeitY, DoT at work on projects for fair AI development

The ministry of electronics and information technology (MeitY) and the department of telecommunications (DoT) are spearheading multiple initiatives to ensure the responsible development of artificial intelligence (AI) as it becomes ubiquitous across sectors and daily life.

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Stellaris Venture Partners closes third fund at $300 million

Stellaris, a backer of Mamaearth and Whatfix, intends to use the fund to invest in 25-30 startups across sectors such as consumer technology, enterprise software, artificial intelligence and financial services. Ritesh Bangliani, cofounder of Stellaris said that the size of the third fund was in line with what it had planned.

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Romanian telecoms regulator calls for TikTok suspension pending election probe

The deputy head of Romania's telecoms regulator will start the official process of suspending social media platform TikTok across Romania from Thursday pending an investigation into the part it played in Sunday's first round of the presidential election, he was quoted as saying on Wednesday.

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Ecommerce in competition with quick commerce

Many prominent ecommerce firms like Flipkart, Nykaa, Myntra and FirstCry have increased their offering of same-day deliveries in metros and teir-1 cities. Even as brands are approaching quick commerce platforms for fast deliveries, they working with third-party logistics firms and trying out their own quick delivery models.

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India probes Google Maps after three deaths

Google said Tuesday it was assisting Indian authorities probing the deaths of three men who reportedly drove off an incomplete bridge while following a route on Google Maps. The driver followed Google Maps into taking the route, the Hindustan Times newspaper said Tuesday, quoting police officials.

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AI: the access key to inclusion?

Technology leaders and startups are integrating AI into assistive technologies that can help people with disabilities in improving their learning, working and daily lives. Annapurna Roy analyses the trend.

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Beyond Appliances raises $2 million in round led by Fireside Ventures

Dharana Capital and angel investors Livspace cofounders Saurabh Jain and Ramakant Sharma, Design Cafe founder Shezan Bhojani and former chief executive of TTK Prestige Chandru Kalro also participated in the funding round for the kitchen appliances startup. The funds will be used for R&D and to increase manufacturing capabilities.

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CAT 2024: IIM Lucknow announces admission criteria for MBA 2025 intake, check category-wise sectional-cut offs and more

IIM Lucknow has announced its admission criteria for the 2025 MBA programs, relying on CAT 2024 scores, an Application Rating Score, and a Personal Interview. The MBA-ABM program focuses on disciplines related to agriculture and rural development. Final selections consider academic performance, diversity, work experience, and communication skills, with specific weightage assigned to each parameter.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Startup BonV Aero drives drone innovation with support from STPI

BonV Aero, a deeptech startup, develops logistics drones for the defense sector. After supplying 20 drones to the Indian Army and achieving 300% growth in FY24, it raised $1.6 million on the US television show Meet the Drapers. It launched Air Orca, an autonomous logistics drone platform, with investor Tim Draper. Incubated under STPI’s Leap Ahead program, the startup benefited from mentoring and funding initiatives that support tech innovation in India’s tier-2 and tier-3 cities, fostering grassroots entrepreneurship.

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When AI's output is a threat to AI itself

All this AI-generated information can make it harder for us to know what's real. And it also poses a problem for AI companies as they develop more and more powerful models, which involve digesting volumes of data so vast that they are approaching the size of the internet itself.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Meme lord Elon Musk, pro crypto Trump fuel fresh mania

Goatseus (GOAT) is the world’s first AI meme coin which was created by a self-controlled AI agent called Terminal of Truths which autonomously promotes the coin by posting on community platforms. GOAT has seen a 68% increase over the past month and touched an all-time high five days ago, placing it among the fastest currencies to cross $1 billion market cap within a month of launch.

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Why Some U.S. Colleges Are Going Test-Blind: What It Means for Applicants

Many top U.S. colleges, including the University of California system, have adopted test-blind admissions, no longer considering SAT or ACT scores. These institutions focus on holistic factors like GPA, coursework, essays, and extracurriculars to assess applicants. This shift promotes fairness, allowing students to highlight their true potential without the pressure of standardized test scores.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Demand for prompt engineers stalling as companies seek broader skill sets

The industry is seeing a plateauing in the demand for prompting engineers. But compared to the last three quarters, there is a slight rise in the active demand. More and more employers are looking for candidates with skill sets across the AI spectrum including broader understanding of foundational models and large language models, AI ethics, responsible AI, security and governance, data and cloud AI services.

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Mutual help: AssetPlus and ZFunds receive venture capital support

According to two people in the know, ZFunds is in talks with Elevation Capital to lead a Rs 25 crore equity funding round, which will be its first institutional funding round. AssetPlus, which had previously raised equity funding from Rainmatter and InCred, has secured Rs 50 crore in another institutional funding round led by Eight Roads Ventures, a global investment firm backed by Fidelity.

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Quick commerce taps identity verification companies to curb frauds amid ramp-up

Gig economy workers have always been required to submit identity documents before joining a platform, but companies such as Swiggy, Zepto, Blinkit, and Zomato are now increasingly collaborating with ID verification firms that utilise advanced technology to authenticate these documents and assess applicants’ behavioural patterns during their assignments.

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Information technology gets its mojo back with big September wins and October momentum

In the month of September alone, the main IT players signed a total of 26 deals which also includes deals by domestic tech firms such as Infosys, Cognizant and Accenture.

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MeitY readying voluntary ethics code for AI firms

Some of the larger principles that the IT ministry may release as a part of the voluntary code involve measures that companies can take during the training, deployment, and commercial sale as well as identifying and rectifying any instances of potential misuse of the LLM and AI platforms developed by the company, the second official said.

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It’s success .ai as domain trade rakes in big bucks

Registrars such as GoDaddy allow investors to buy, sell or auction domains that have a high probability of being acquired for a substantial value.“Starting in late 2022, GoDaddy saw a notable increase in the number of .ai domain name registrations as a company--a trend that spiked in May 2023 and continues to drive strong interest,” the company told ET.

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AIIMS INI CET January 2025 Result declared: Check direct link here

The All India Institute of Medical Sciences (AIIMS), Delhi, has declared the INI CET 2024 results for the January 2025 session. Candidates who took the exam can check and download their results from the official website, aiimsexams.ac.in. Candidates can check important details and the direct link here.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Building India's 'iPhone city': Lessons from Zhengzhou's transformation

Zhengzhou evolved from a modest industrial center into a powerhouse after Foxconn's 2010 entry, aided by massive social infrastructure supporting over 200,000 employees. India's ambitions to replicate this model hinge on robust social infrastructure, such as housing, healthcare, and education. States like Tamil Nadu are pioneering industrial housing, but experts stress a need for better facilities, policies, and talent-friendly ecosystems to attract global investment and drive sustainable growth.

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India well-positioned to preserve heritage in LLMs: Amazon CTO

Werner Vogels believes that the nation’s blend of technology, culture and government collaboration puts it in a strong position to lead the development of culturally aware AI.

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COP29: UAE announces developing world's first ChatGPT tool for agricultural community

The announcement came today at the UAE Pavilion at COP29 which hosted an exciting array of events focused on the transformative role of technology, collaboration, and data in accelerating decarbonisation and driving the energy transition around the world, particularly through agricultural innovation and hydrogen development

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Netflix down for thousands of users in United States

Netflix was down for thousands of users in the US as it streamed a highly anticipated live boxing match between Mike Tyson and Jake Paul, according to outage tracking website Downdetector.com.

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What is Bluesky, the fast-growing social platform welcoming fleeing X users?

​While it remains small compared to established online spaces such as X, it has emerged as an alternative for those looking for a different mood, lighter and friendlier and less influenced by Musk.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Boat sets sail for $300-500 million IPO with bankers on board

This comes as Boat’s revenue fell 5% in FY24 to Rs 3,285 crore, while it halved losses to Rs 70.8 crore. Sources said there’s a consolidation underway in the sector and that the recent Diwali season lifted sales after several muted quarters. Boat recorded positive earnings before interest, taxes, depreciation, and amortisation (ebitda) in FY24.

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U.S. College application deadlines explained: All you need to know about Early Action, Early Decision, and more

The U.S. college admissions process requires strategic planning, with application deadlines playing a crucial role. Students can choose from Early Decision, Early Action, Regular Decision, and Rolling Admissions, each offering different timelines and commitments. Understanding these deadlines helps applicants align their ambitions and options, increasing their chances of acceptance and aiding in selecting the right path to their desired institution.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Pavestone marks final close of tech fund at Rs 816 crore

The firm which initially targeted raising Rs 600 crore revised it to Rs 900 crore after raising the corpus twice through the green shoe option. Pavestone plans to invest in several early growth-stage business-to-business technology companies with an average cheque size of $5-10 million.

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Swiggy delivers best major listing in 10 years

“We are very excited for the next phase of our journey as a company,” said Sriharsha Majety, cofounder and CEO, Swiggy, in a press conference following the listing ceremony at NSE. “As for the profitability, even in the build-up to the IPO, we have talked about how the food delivery business has already gotten profitable and we expect that to continue at a steady clip.”

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Apple overtakes Samsung in Q3, clocks record shipments

The iPhone 15 and iPhone 13 models were the most popular, according to IDC. Record shipments led to Apple cornering majority share in the smartphone market in value terms, widening the gap with Samsung. Apple's revenue share in the market stood at 27.2% while Samsung's share stood at 15.2%.

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Razorpay’s funding venture to invest in early-stage B2B companies

Razorpay Venture Investment Programme, as it is named, will scout for opportunities in sectors like fintech, travel, healthcare, hospitality, retail and ecommerce. But the company intends to invest only in business-to-business (B2B) startups. The Reserve Bank of India-licensed payment aggregator believes that India will see 10-15 B2B unicorns getting created over the next five years.

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Agile mid-sized IT uses AI, pricing to bag bigger deals

Companies like Persistent Systems, Sonata Software, and LTTS are leveraging AI to attract more vendor consolidation deals, aided by their agility and competitive pricing. These firms now often land larger contracts that were previously reserved for top firms, with an increasing focus on custom solutions. The trend reflects stronger demand and AI-driven innovation, enabling these companies to capture a greater market share in outsourcing.

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To AI or not to AI, that’s the question for academic book publishers here

The Indian Reprographic Rights Organization (IRRO) which represents 113 global and Indian publishing houses like Pearson, Oxford, S. Chand etc. said, it is cautious of these factors as AI companies are approaching the body for content outsourcing rights.

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ID verification company Equal bags $10 million in first institutional raise

Equal is building a platform which helps businesses streamline their know your customer (KYC) processes and prevent fraud, thereby assisting in regulatory compliance through integration with about 50 identity databases.

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‘India has become an AI hub for startups’

Morgan Stanley, a major US investment bank, is exploring AI-based collaborations with Indian startups. With over 8,000 tech professionals in India, it leverages this talent for global operations. Its AI tools, “Assistant” and “Debrief,” developed with OpenAI, streamline advisor tasks by reducing administrative calls and aiding meeting summaries. Despite the wide impact of AI, Morgan Stanley continues expanding its workforce in India.

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Elon Musk is positioning X behind the new Trump presidency

Musk, who owns X, posted on the platform about politics more than 400 times between Tuesday and Friday, celebrating Trump's victory and talking about the causes that the president-elect should take up in office.

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Google Photos launches new updates page to track activity in shared albums

Google Photos is rolling out a new feature aimed at enhancing how users track and engage with changes in their shared albums.

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Apple Inc sets up first subsidiary in India for R&D

Apple established a new subsidiary in India, Apple Operations India, marking its first direct presence in the country. This subsidiary will focus on research, design, testing, and providing support to third-party manufacturers. This move signifies Apple's commitment to expanding its operational footprint in India beyond assembly and sales.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Need child tracking data for their safety: Meta’s Antigone Davis

“We also use the tracking of behaviour to determine how to resource our systems. The way I can describe it is how they use the behaviour of electricity users at the grid level to determine where to surge power and where to pull it back so everybody has their light on,” Davis said in a interaction with ET.

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Haldiram Bhujiawala secures Rs 235 crore from Pantomath's Bharat Value Fund; sells minority stake

The funds will be used to expand Haldiram’s manufacturing capabilities and enter new markets. BVF, which recently launched its third fund with a corpus of Rs 2,500 crore, invests in profitable, growth-stage companies. Haldiram Bhujiawala is its sixth investment.

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Boldfit gets Rs 110 cr investment from Bessemer Venture Partners

The startup backed by cricketer KL Rahul will use the funds to enhance product innovation and expand its brand presence. The brand sells its products on ecommerce marketplaces, quick-commerce platforms and through its own D2C channel. It plans to open offline stores within the next 12 to 18 months.

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Tessolve to buy German chip designer for Rs 400 crore

This acquisition aims to position Tessolve as a leading design firm capable of delivering advanced turnkey solutions, particularly in System on Chip (SoC) designs for AI, automotive, and data center markets. The move will also strengthen Tessolve’s European presence with new facilities in Germany and the Netherlands.

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Alarm bells at wearables companies as slump extends to this fiscal

India’s wearables market has been on a downturn for over a year, affecting major brands like Boat and Boult. Boat reported a 5% revenue drop in FY24 but halved its losses, while Boult’s profits shrank despite a 40% revenue increase due to expansion efforts. Smartwatch demand remains low, with a 10% decline in Q2 shipments. Meanwhile, the true wireless audio segment grows, driven by budget-friendly features and quick-commerce expansion.

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GCCs ping class of 2025 to build their tech talent pipeline

GCCs gained popularity in campus placements in the last season — for the Class of 2024 — when they stepped in to partially fill the gap left by a sharp drop in IT/ITeS hiring. These companies say they are now seeing many more campuses reach out to them. The main draws: attractive salaries, benefits and career growth.

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India now a focus market for Reddit, says CEO Steve Huffman

Reddit registered an India subsidiary in August this year and started leveraging the influencer connect to gather users – it hosted AMA (ask me anything) sessions with Shark Tank’s Namita Thapar and actors Pankaj Tripathi and Manoj Bajpayee.

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WBPSC Clerkship admit card 2024 released at wbpsc.ucanapply.com, direct link to download here

WBPSC has released the admit cards for the 2024 Clerkship Examination starting November 2. Candidates need their application number or name and birth date to download them from official websites. The exam, with over 700,000 participants, is scheduled for November 16 and 17 in four shifts.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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You are under digital arrest! How fake cop scams draining victims’ bank accounts

Victims of online scams are finding themselves in the grip of fake cops, leading to empty bank accounts. As the battle against cybercrime intensifies, experts tell that individuals and agencies must step up efforts to combat these threats.

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Tech giants are set to spend $200 billion this year chasing AI

Wall Street recently criticised major tech firms for their AI spending, but Amazon, Microsoft, Meta, and Alphabet plan to invest even more, exceeding $200 billion this year. These companies are securing chips and building data centers to support AI, aiming for future profitability despite current high expenses.

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Coursera sees spike in GenAI course demand, India leads enrolments

Raghav Gupta, Coursera's Managing Director for India and Asia Pacific, highlighted that while overall online learning growth has slowed compared to the pandemic boom, genAI courses have surged, with enrollments reaching 950,000—a 1600% year-over-year increase.

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Walt Disney forms business unit to coordinate use of AI, augmented reality

The newly formed Office of Technology Enablement will be led by Jamie Voris, who spearheaded development of Disney's app for the Apple Vision Pro mixed reality device, according to an email seen on Friday by Reuters.

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Judge declines to block Elon Musk $1 million voter giveaway as billionaire seeks to move case

A Pennsylvania state judge delays a lawsuit to stop Elon Musk's $1 million voter giveaway, which supports Donald Trump. District Attorney Larry Krasner seeks to halt the giveaway, alleging it is an illegal lottery scheme. Musk faces criticism for potentially influencing the upcoming election.

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Silver lining amid funding winter: IT firms acquiring Indian startups, smaller firms

Most of them are making acquisitions to strengthen their capabilities so that they do not miss out when technology spending, especially in discretionary spends, returns, say analysts.

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Cognizant Q3 profit up 2.8% sequentially; full year guidance revised up

The Nasdaq-listed technology major saw its third quarter revenue growing by 4% sequentially at $5 billion. On a year-on-year (YoY) basis, the revenue was up 3%.

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Payments firms slash cashbacks, incentives on funding drought

Consumer payment companies like PhonePe, Paytm, Amazon Pay, and Cred have significantly reduced their marketing expenditures and customer incentives, reflecting a maturing digital payments market in India. This trend indicates a shift from aggressive customer acquisition strategies to a more sustainable approach focused on profitability.

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Country Delight raises Rs 200 crore in debt from Alteria Capital

Earlier this year, it raised around Rs 164 crore in equity funding from Singapore’s sovereign fund Temasek, giving it a valuation of $804 million as of July 31. The direct-to-consumer fresh foods brand will use the fresh funds to drive its expansion, brand marketing efforts and capacity addition.

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New rules on data protection likely to be notified soon

During a meeting earlier this month with various industry stakeholders, the Ministry of Electronics and Information Technology (MeitY) made efforts to iron out concerns about potential business disruptions once the rules are issued, a senior official told ET.

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Catwalk goes canine in this festival season pet gala

The evolving pet parenting culture in India is driving a surge in the pet fashion market. This festive season, sales of pet fashion items like sherwanis, kurtas, lehengas, and accessories have doubled. Brands are competing for a share of this growing market, which is expected to reach Rs 500 crore in the next five years.

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Edu-wealth startup Zinc raises $25.5 million from Nexus Venture Partners, others

The Singapore-headquartered company founded by the former PayU Credit chief Prashanth Ranganathan plans to use the funds for product innovation, expand its offerings and obtain financial licences to help families save and invest for their children's global education.

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Tatas to enter red-hot quick commerce space with ‘Neu Flash’

Joining Flipkart and Reliance Industries, salt-to-software conglomerate Tata Group is set to enter the ever-growing quick commerce sector as customer demand rages in metros. People in the know said Tata’s ecommerce venture Neu will enter the fast delivery segment branded as Neu Flash. It will be rolled out to select users offering grocery, electronics and fashion.

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AI companies need to be worried about cyber threats, model pollution

Artificial intelligence companies, including OpenAI, Microsoft, and Meta, are increasingly concerned about protecting their large language models (LLMs) from cyber threats. The focus is on protection, recovery, data portability, and data intelligence and working with other security companies to provide comprehensive solutions.

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TSMC suspended shipments to China firm after chip found on Huawei processor, sources say

This move comes amid ongoing U.S. restrictions on Huawei, which is prohibited from accessing U.S. technology. TSMC, as a major supplier to Huawei, is under scrutiny to ensure compliance with these restrictions.

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Indian IT must hitch an AI ride to front office: Nvidia's Jensen Huang

Jensen Huang, CEO of Nvidia, urged the Indian IT industry to leverage its strengths in AI to transform into a leading global innovation hub. He advocated for regulatory measures for AI and highlighted its potential to boost productivity, particularly in agriculture, without replacing human jobs.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Apple's Q3 China smartphone sales slip, Huawei's soar

Apple's iPhone sales in China fell slightly by 0.3% in Q3 2024, while Huawei surged by 42%, capturing a 15.3% market share. Apple's market share dropped to 15.6%, as Vivo led with 18.6%. Huawei's Mate 60 series and Pura 70 model intensified competition. Overall, China’s smartphone sales rose 3.2%.

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Apple supplier Jabil eyes expansion; Ixigo, Go Digit financials

Apple supplier Jabil plans to expand operations in India, one of the world's fastest-growing markets for iPhones. This and more in today’s ETtech Morning Dispatch.

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Healthify raises $20 million in round led by Khosla Ventures, LeapFrog Investments

Claypond Capital, Manipal Group chairman Ranjan Pai’s family office, also participated in funding for the health and wellness startup, formerly known as Healthifyme. To date, the company has raised $125 million in primary equity.

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NPCI curbs on unauthorised use of UPI IDs by fintech companies

NPCI has shot off a letter to banks and fintechs asking them to refrain from using the UPI system for any form of service other than payment settlements and account validation. Fintech startups use the UPI ID to find out the name of the customer, the status of the bank account, alternate UPI IDs, and also verify the mobile number of the customer.

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AI adoption hinges on cultural shift, says Google Cloud exec

Caroline Yap, managing director, global AI business, Google Cloud, said the company has been working with C-level leaders to understand their business value journeys and help map out how to apply the technology.

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Even Healthcare raises $30 million in funding led by Khosla Ventures

The round saw participation from other US-based investors such as Founders Fund, 8VC and Lachy Groom. The company plans to use the funds to launch hospitals in Bengaluru and scale up patient care to become a fully integrated healthcare provider.

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Avaana logs final close of $135-million climate fund

This fund aims to invest in 20-25 early-stage companies working on solutions for energy transition, supply chain, resources, industrial decarbonization, and food systems.

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Paytm receives approval from NPCI to onboard new UPI users

Paytm parent firm One 97 Communications said on October 22 that the National Payments Corporation of India (NPCI) has given approval to the company to onboard new UPI users.

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India turning a C-suite magnet with quality talent: Snowflake CEO

Sridhar Ramaswamy, CEO of cloud data analytics company, Snowflake, says India is rapidly emerging as the hub of top business decision makers.

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AI startup Neysa raises $30 million in funding round led by NTTVC, others

The company's founder Sharad Sanghi, said the funds will be used for scaling up infrastructure and fuel research and development to democratise access to scalable AI solutions. The startup expects a growth of 200-300% next year, aiming to almost treble its revenue.

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Logistics firm Shadowfax eyes $50 million, doubling value to $700 million

Shadowfax is finalising a Rs 350-400 crore funding round, likely to value the company at Rs 5,500-6,000 crore, with this round being its last private funding before an initial public offering (IPO), according to sources. In February, Shadowfax secured $100 million in funding, comprising primary and secondary investments led by TPG NewQuest, valuing the company at $350 million.

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Dairy tech firm Stellapps raises $26 million in a mix of equity and debt

Stellapps, a dairy technology solutions startup, will use the funds for expanding Stellapps' mooMark business, which focuses on contract manufacturing and private-label dairy operations. Founded in 2011, the Bengaluru-based firm is a farm-to-consumer dairy digitisation service provider.

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Bits & Bytes: Meta’s oversight board seeks public comments on hate speech moderation

Meta is seeking public input on its handling of immigration-related content that might harm immigrants while Apple CEO Tim Cook expressed concerns to Donald Trump about EU-imposed financial penalties on the company. Additionally, the US has relaxed export restrictions for certain satellite and spacecraft-related items to allies. Finally, Britain's media regulator will outline specific actions social media companies must take to address illegal content.

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Boom time for spiritual apps: Diwali set for surge in user activity

Online devotional platforms see business booming this month amid burgeoning demand for new offerings launched during Navratri.

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Meta releases AI model that can check other AI models' work

The release follows Meta's introduction of the tool in an August paper, which detailed how it relies upon the same "chain of thought" technique used by OpenAI's recently released o1 models to get it to make reliable judgments about models' responses.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Quick commerce’s burning brighter as players add more fuel

Zomato's decision to raise additional funds via QIP, despite holding $1.5 billion in cash, has sparked intrigue in the quick commerce sector, with some viewing it as a strategic move to overshadow Swiggy's impending IPO. The slug of capital that will be needed to sustain growth in the high-burn quick commerce sector is resembling the trajectory of ecommerce a decade ago.

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P2P startups look to overhaul biz, processes amidst RBI crackdown

Peer-to-peer lending startups are still coming to terms with the latest observations on the sector released by the RBI on August 16. At the same time, they are also dealing with regulatory action against violations. Many P2P platforms are working on restricting withdrawals and also overhauling their entire product journey to abide by stringent RBI rules on the sector.

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Tata Electronics served show cause notice over fire mishap

The Directorate of Industrial Health and Safety (DISH) has demanded an explanation from the company’s occupier and factory manager regarding the incident. Tata Electronics has one week to respond, unless an extension is requested.

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MeitY extends deadline for Rs 10,000 crore GPU tender to Nov 12 amid industry concerns

The tender aims to establish public AI cloud infrastructure with more than 10,000 GPUs through a public-private partnership. Some companies raised concerns about energy efficiency requirements, but the tender remains unchanged for now.

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Eldercare startup Primus Senior Living raises $20 million from General Catalyst, others

General Catalyst brought in $7 million, while Zerodha cofounder Nikhil Kamath and investment firm Gruhas invested the remaining $13 million. Primus delivers healthcare, wellness, lifestyle, and social engagement services to elders at their homes.

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Samsung workers call off strike: TN labour dept

Under the agreements among the parties, workers would not be victimised for participating in the strike, the department said. Workers said they would cooperate with the management fully and would not do any such acts "prejudicial to the interest of the management".

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Footwear startup Yoho bags Rs 27 crore, eyes offline and international expansion

The funds will be used to support growth initiatives, research and development, marketing efforts, recruitment, and offline expansion. It last raised Rs 20 crore in October 2022. “Our core target audience is 28 to 40 years old, who like colour and style, value comfort, and don't just go for fashion,” cofounder Prateek Singhal told ET.

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TCS second quarter results signal deal growth impact only by FY26

The Tata subsidiary missed market estimates for the July to September quarter net profit after reporting a 1.08% quarter-on-quarter (QoQ) decline at Rs 11,909 crore.

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Furniture rental startup Rentomojo nears Rs 200 crore FY24 operating revenue

Rentomojo reported a 60% rise in operating revenue to Rs 193 crore in FY24. Controlled rise in expenses during the year saw net profit surge more than threefold to Rs 22 crore last fiscal from Rs 6 crore in FY23.

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MCC NEET UG 2024 Round 3 counselling result out for MBBS, BDS, BSc Nursing courses: Direct link, next steps to follow

The Medical Counselling Committee (MCC) has published the NEET UG 2024 round three seat allotment results on its official website. Candidates must report to their assigned institutes between October 14 and 19 to secure their seats. Unplaced candidates will advance to the stray vacancy round.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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From Sophos to Arctic Wolf: Bengaluru becomes hub for global cybersecurity ops

Jeff Green of Arctic Wolf explains how they built a bootstrapped GCC business in India and the lessons learnt along the way.

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Cost, integration and scalability: Hurdles for Open RAN in India

While the technology could reshape the telecom landscape in the country, challenges related to cost, integration and scalability continue to present significant near-term hurdles.

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Maharashtra opens Rs 800 crore centre to fight cybercrime

The Rs 800 crore facility, located in Navi Mumbai, will house over 150 experts to protect the state's residents. The center will leverage advanced technologies like AI and blockchain to address various types of cyber threats, including malware, deepfakes, and cryptocurrency scams.

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India drives TCS growth buzz

Tata Consultancy Services (TCS) reported a 5% increase in net profit for the second quarter, driven by a large deal with BSNL. Despite cautious spending from clients in key markets, TCS saw signs of improvement in financial services in North America. CEO Krithivasan expressed optimism about the future, suggesting that the second quarter of FY25 could be better as macroeconomic uncertainty eases.

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Good Glamm Group completes buyout of feminine hygiene brand Sirona for Rs 450 crore

In 2022, Good Glamm announced the purchase of a partial stake in Sirona for Rs 100 crore. The all-cash deal had faced legal scrutiny after founders and investors of Sirona issued notices to Good Glamm for not finalising the acquisition as per their original agreement.

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India leads AI app downloads with 21% share globally

Chatbot apps such as ChatGPT, Microsoft Copilot, Google Gemini are the most downloaded AI apps along with image/video editing and play apps. However, most Indian users use these apps for free.

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Payments firm Tonetag looks to bag $50 million from Iron Pillar, others

Tonetag is in talks with growth-stage investment firm Iron Pillar for a fresh equity round of around $50 million. Other investors are expected to join the round as well. The round will be a mix of primary and secondary capital, where some of Tonetag’s early investors will partially or fully exit the company.

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AI tech shift leading to remarkable transformation: Worldwide Amazon Stores CEO

Speaking at the 'Delivering the Future 2024' event where Amazon announced a major AI push into multiple areas of ecommerce for the US markets, Doug Herrington said AI infusion and enhancement is not just enabling lower costs and improved quality, but also leading to innovative experiences.

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Data centres are wary of sustainability push in govt’s AI mission GPU tender

As per the new clause introduced by the Ministry of Electronics and Information Technology (MeitY) in a corrigendum to the bid issued in the last week of September, a bidder must confirm that the PUE for the data centres from which AI services on cloud would be delivered is not more than 1.35.

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Fraud check: Infosys candidates need to check system for info

Infosys, India’s second-largest software services company, has stopped sending job offer letters and attachments via email. Instead, new recruits will access their job application details by logging into the company’s internal system.

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Ola Electric slapped with show cause notice over consumer complaints and service deficiencies

The central government has issued a showc ause notice to Ola Electric for multiple consumer complaints. These complaints involve service delays, misleading ads, and unfair practices. Ola Electric has been asked to respond within 15 days. The company's stock fell nearly 9 per cent today. The company reported a significant net loss despite revenue growth.

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Samsung signs MoA with some workers at Chennai facility; agrees to a slew of demands

The company has also agreed to expanding the operation of air conditioned buses by next year from only five routes currently to all 108 routes.

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Soon, you will be able to travel from Bengaluru airport to Cantt Station in 40 min: minister

Vaishnaw, who is minister for railways, information broadcasting and information technology, took the train ride from the airport to the Cantt station, where he reviewed the progress of ongoing projects and some planned ones. V Somanna, minister of state (railways) and Lok Sabha member from Tumakuru, will be leading the project that will take the railway line into the sprawling airport.

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RUHS BSc Nursing Result 2024 declared for Semester I Main exam, direct link to download here

RUHS announced the B.Sc. Nursing I Semester (Main) exam results for 2024 on October 5. Students can check their scores on ruhsraj.org or bscnursing2024.com. The exam took place on August 11, and the application process ran from June 25 to July 19. Follow the given steps to access the result online.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Marriott to open tech accelerator in Hyderabad next year

Marriott International is setting up a tech accelerator in Hyderabad, opening in early 2025. This will be its first overseas global capability centre. The centre aims to leverage Hyderabad's technology talent, focusing on software engineering, infrastructure, operations, and cybersecurity. Marriott's expansion in India includes 153 hotels with 84 more in the pipeline.

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UP Police Constable Result 2024 to be released by October end: CM Yogi Adityanath

The UP Police Constable Exam 2024 results will be declared by the end of October, as announced by Chief Minister Yogi Adityanath on X. Candidates can check their results on the official website. Along with the results, the final answer key will also be released. The recruitment process will be expedited.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Brazil's top court says X paid pending fines to wrong bank

Brazil's Supreme Court postponed its decision to allow social media platform X, owned by Elon Musk, to resume services in the country, as the company did not transfer pending fines to the correct bank. X has been suspended since August for failing to comply with court orders related to hate speech moderation and proper legal representation.

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Winners of The ET Startup Awards 2024 to be feted today, and other top stories this week

It’s D-day! Top entrepreneurs, policymakers, and investors will come together in Bengaluru today to honour the stars of Indian entrepreneurship at the tenth edition of The Economic Times Startup Awards (ETSA) 2024.

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ET Startup Awards 2024: The stars of startup world to shine today

​​Ashwini Vaishnaw, union minister for railways, information and broadcasting, electronics and IT, will be the guest of honour at the glittering ceremony. Winners and nominees, past and present, will be among the elite speakers. Watch out for full coverage of the event in ET's pages.

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Consumer-lending fintechs steal show with surging numbers

Fintech firms in consumer lending such as Navi, Kreditbee, Moneyview, and Fibe reported strong profits and revenue growth in the last financial year, recovering from Covid-related challenges.

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ET Startup Awards 2024: it’s an all-star cast of speakers in milestone year for ETSA

Nandan Nilekani, a digital public infrastructure (DPI) evangelist, will delve into the past decade of India's tech and startup ecosystem and look ahead at what’s in store for the new economy amid groundbreaking technological innovations and the maturing of the country’s startup ecosystem.

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Away from spotlight, healthcare throws big lifeline to IT sector

India's IT companies have found a resilient growth engine in healthcare. This contrasts with the sluggish performance of financial services, retail, and hi-tech, which have faced headwinds for nearly two years.

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IT’s fresher hiring may double in FY25 on demand rebound

After a sluggish period, the IT sector is set for a significant recovery in fresher hiring, with projections indicating a nearly 100% increase in entry-level hires this year compared to the last. Several big IT firms have already announced plans to resume campus hiring and expand their workforce.

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ESTA 2024: ClaimBuddy wins by easing insurance claims pain for all

ClaimBuddy won this year’s Best on Campus category at The Economic Times Startup Awards, for aiming to solve the major issue of making the health insurance claim process more transparent and efficient. “ClaimBuddy is a commitment to ensure that patients receive the care they need without the added stress of navigating complex insurance processes," said Khet Singh Rajpurohit, cofounder of the company.

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Ayodhya schools closed amid heavy rains, check official notice here

The Ayodhya education officer announced that all schools (classes 1 to 12) will remain closed on September 28, 2024, due to heavy rainfall. If conditions improve, schools will reopen on October 30, 2024. The decision was made to ensure the safety of students, teachers, and staff.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Bits and Bytes: Meta unveils glasses pitched as smartphone rival and more

According to CEO Mark Zuckerberg, the bulky, black-framed prototype called ‘Orion’ is able to overlay holographic images on a wearer’s field of vision and is ultimately intended to rival the smartphone. “The right way to look at Orion is as a time machine,” Zuckerberg said.

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Small companies can now chase India's giant AI dreams

Sunil Gupta, chief executive of Yotta Data Services, which has placed a purchase order of 16,000 H100 GPUs from Nvidia and went live with 4,000 H100 GPUs a few months ago, concurred. “By lowering turnover thresholds and introducing greater flexibility in AI compute infrastructure requirements, the government has made it easier for a diverse range of players including and especially the startups in the AI services space to contribute to this mission.”

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Cisco opens manufacturing facility in Chennai

Cisco has partnered with Flex for building the Chennai factory to produce advanced telecom technologies. The facility will initially focus on Cisco’s Network Convergence System (NCS) 540 Series of routers, representing the first phase of the company’s multi-year investment plan.

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New owners of Ebix suspend chairman Robin Raina; kick off investigation into financial irregularities

Eraaya Lifespaces, which acquired Ebix for $151 million through a successful bidding process in August this year, also asked Raina and some of his top executives to refrain from contacting, writing to or intimidating any of the employees of Ebix.

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WeWork’s Rs 1,200-crore deal collapses; ETSA Bootstrap Champ winner Boult

Happy Friday! Bankruptcy-hit coworking firm WeWork Inc.’s plan to exit the India unit via a secondary stake sale has fallen through. This and more in today’s ETtech Morning Dispatch.

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ETSA 2024 | ‘Bootstrap Champ’ Boult is marching to beat of its own drum

Boult, a brand known for wearables and electronic devices, prioritizes profitability over market share. Founded by brothers Varun and Tarun Gupta, Boult has grown rapidly without external capital. The company plans to diversify its product range and expand its offline presence while maintaining strong financial health.

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India can be intelligence capital of the world: Nvidia's Vishal Dhupar

Dhupar believes India is witnessing a growing adoption of accelerated computing infrastructure but needs more investments. To compete effectively in the AI race and become an AI powerhouse, India must invest heavily in building its computing capabilities, including servers, storage, and networking, he says.

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X releases its first transparency report since Elon Musk's takeover

Social media platform X, formerly Twitter, has published its first transparency report since Elon Musk's acquisition. The report reveals that nearly 5.3 million accounts were suspended and over 10.6 million posts were removed or labeled for violating platform rules in the first half of the year.

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Mumbai schools and colleges shut tomorrow amid IMD's heavy rain alert, BMC issues notice

The Brihanmumbai Municipal Corporation has declared a holiday for all schools and colleges in Mumbai on Thursday, 26 September 2024, as a precautionary measure due to severe weather conditions. The India Meteorological Department has issued a Red Alert until tomorrow morning. Residents are advised to avoid leaving their homes unless absolutely necessary.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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ETSA 2024: Haqdarshak takes government schemes to the needy via consultants

Haqdarshak was picked by the elite jury of The ET Startup Awards as the winner of the Social Enterprise category, which recognises a startup that best embodies the ‘double bottom-line’ model of combining profit and public good.

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Mukesh Bansal’s new startup Nurix AI raises $27.5 million from Accel, General Catalyst

The new company, Nurix AI, which builds custom AI agents for enterprise services like sales and customer support in initial use cases, was incubated in Bansal’s startup incubator Meraki Labs and now has about 20 people in the team.

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Operational tech roles log 20% surge in demand

Infrastructure projects, particularly the government's smart city initiative, have spurred an 11% rise in OT hiring, Sharma said. The focus on process automation and regulatory compliance in the chemical and pharmaceuticals sector resulted in an 8-10% growth in OT positions. Smart manufacturing and autonomous vehicle technologies in the automotive sector led to a 12% increase.

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ETSA 2024: Need stronger collaboration between private investors and govt to support deeptech startups: BrainSight AI founder Laina Emmanuel

As part of a series of interviews with the winners of The Economic Times Startup Awards 2024, ‘Top Innovator’ award winner BrainSight AI’s founder Laina Emmanuel talks about the firm’s journey so far.

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KEA VAO 2024 hall ticket out at cetonline.karnataka.gov.in: Direct link to download here

The Karnataka Examination Authority has released admit cards for the Village Administrative Officer recruitment exam. Candidates can download their hall tickets from the official website. The mandatory Kannada Language Exam is set for September 29, 2024, from 10:30 am to 12:30 pm. This recruitment drive aims to fill 1,000 VAO positions in Karnataka's administrative framework.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Bits & Bytes: Meta beats lawsuit over Apple privacy

In a decision, US District Judge Yvonne Gonzalez Rogers also rejected claims that Meta concealed former COO Sheryl Sandberg’s use of company resources on personal matters, including her wedding and her book Lean In.

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X names Brazil legal representative as it fights ban in the country

Andre Zonaro and Sergio Rosenthal, who were recently appointed as X's lawyers in Brazil, told Reuters that colleague Rachel de Oliveira Conceicao was chosen as the firm's legal representative, and that they had submitted her name to the Supreme Court.

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Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories from this week. Let’s take a look.

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Michelin to lay foundation stone for passenger car tyre facility at TN plant

"India is a very big market and (there are) many Indias within India," Gaganjot Singh, president and managing director - Africa, India and Middle East at Michelin, said. "We cater to the premium segment (and) we believe that we are achieving a critical mass in the premium segment, which is now going to grow significantly in the years to come."

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Aye Finance set to secure Rs 250 crore in a fresh round

Once the deal is closed, Aye Finance’s net worth would reach Rs 1,250 crore, on the basis of which it can raise further debt from its lending partners. Founded in 2014, the lender focused on small and medium enterprises is backed by Alphabet’s growth fund Capital G, Elevation Capital and others. Its initial investors are not participating in this round.

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Cognizant CMO quits, Thea Hayden to take interim position

Thea Hayden, senior vice president of Global Marketing, a 25-year marketing veteran and seasoned Cognizant executive, will serve as the interim Chief Marketing Officer.

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While doubling India headcount, Salesforce also facilitated 65,000 internships: Arundhati Bhattacharya

Bhattacharya said, “We have an MOU (memorandum of understanding) with AICTE for providing 200,000 internships, of which we have already done 65,000. So these internships are for three months - one and a half months virtual, one and a half months on the ground, in location.”

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Recruitment platform Vahan raises $10 million in funding led by Khosla Ventures

The round also saw participation from Y Combinator, US-based VC firm Gaingels, and Vijay Shekhar Sharma, founder of Paytm, among others. Vahan's ‘AI Recruiter’ conducts interviews in English and Hindi and will be expanded to eight major Indian languages and several hundred dialects within the next year.

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Banks step up vigil on fraudulent account opening via digital banking channels

“Some of the largest banks in the country could be processing around Rs 300-400 crore worth of fraudulent transactions through mule accounts on a monthly basis; for mid-tier banks, the amount could be around Rs 50-100 crore," a senior banker with a private sector bank said on the condition of anonymity.

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Livspace to file for domicile flip from Singapore for IPO in 2025-26

Ikea-backed Livspace is set to become the latest startup to file for flipping its domicile to India from Singapore and has secured the board’s in-principle approval for the same, founder Ramakant Sharma told ET. The home decor startup plans to launch its initial public offering (IPO) by the end of 2025 or early 2026, but the timeline is subject to change.

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Snap unveils fifth Gen AR glasses Spectacles at Snap Partners Summit 2024

This comes days ahead of rival Meta set to showcase its AR glasses at the Meta Connect conference and Apple Inc having set the stage for its AR glasses that have reportedly been under development.

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Lightspeed may lead $50-60 million round in healthcare company Qure AI

Venture capital fund Lightspeed will lead a $50-60 million investment in Qure.ai through its growth fund. Sources said the VC fund will invest around $20-25 million in the AI company and is looking to buy some secondary shares as well.

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Infosys, Wipro to start fintech hubs in GIFT City’s IFSC under Techfin framework

Both companies have taken large office spaces within the International Financial Services Centre (IFSC) to set up their operations under the TechFin framework, through which they will focus on services aligned with financial technology catering to their global clients.

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Tally is at work on new accounting platform for small businesses

Bengaluru-based Tally Solutions, a software solutions provider for small businesses, is planning a larger financial services play, intending to get into financial reconciliation, credit offerings, and an integrated tax filing service.

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NIOS Hall Ticket for Secondary and Senior Secondary courses for Oct/Nov 2024 Public Exams out at sdmis.nios.ac.in: Direct link here

The National Institute of Open Schooling (NIOS) has released admit cards for the October/November 2024 practical examinations. Students can download their hall tickets from sdmis.nios.ac.in. The practical exams for classes 10 and 12 will take place from September 20 to October 7, 2024. Admit cards are required for entry into the exam center.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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The missing layer of the India stack

Given our population and a proven track record of providing talent for global IT, why is India at risk of missing the AI bus? Most global travellers would vouch for the fact that no other country is as digitally savvy and inclusive as India. With hundreds of millions online, we also have the largest and most active user base for the biggest technology companies in the world.

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Bits & Bytes: Huawei shows the world its $2,800 ‘trifold’ phone

The technology giant unveiled its Mate XT, the first tri-foldable phone, just hours after Apple introduced its AI-enhanced iPhone 16.“Apple hasn’t fallen, but Huawei has truly risen again,” commented one user on Weibo, China’s equivalent to X. Another wrote: “Times are changing. US sanctions have been in vain.”

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Apple’s watch series 10: a powerhouse that goes beyond monitoring

Series 10 boasts of Apple’s largest and most advanced display. It has 30% more screen area, a 40% brighter display, which improves visibility and readability, and an OLED screen that’s very power-efficient. Series 10 is also the thinnest Apple Watch ever, at 9.7 millimeters. A metal back integrates the antenna into the housing, improving cellular performance and maintaining 50-metre water resistance.

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OpenAI's $150 billion valuation hinges on upending corporate structure

OpenAI is set to raise $6.5 billion through convertible notes, contingent on restructuring its corporate structure and removing a profit cap for investors. The funding round, valuing OpenAI at $150 billion, has strong investor interest from Thrive Capital, Khosla Ventures, Microsoft, Nvidia, Apple, and Sequoia Capital.

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Winners of ET Startup Awards 2024; and other top stories this week

We at ETtech were neck-deep preparing for the past few months to bring to you the tenth edition of The Economic Times Startup Awards (ETSA). We reached out to more than 150 of the country’s top entrepreneurs, investors and other stakeholders to compile a list of the best entrepreneurial talent. Then we distilled it to arrive at the final nominees.

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‘Sachet’ covers now guard against cyber fraudsters using AI

A recent study by Deloitte said that India’s cyber insurance market worth $50–60 million in 2023 is expected to grow at an annual rate of 27–30% in the next five years.

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ET Startup Awards 2024 | Top Innovator: BrainSight AI forces a rethink

Founded in 2020, when the entire health sector was focused on fighting the pandemic, the startup had a tough time convincing hospitals to let it test its hypothesis and explaining the potential upsides of the software to top neurologists in the country.

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ET Startup Awards 2024 | Best on Campus: ClaimBuddy stays on pulse to take home campus star prize

The startup that provides digital infrastructure to hospitals for processing insurance claims and assists patients in getting faster pay-outs was praised for its mission to improve a massive pain point for users.

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