Top startup & tech stories this week

Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.

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GlobalLogic sees increased business from India-based GCCs

GlobalLogic has seen a significant increase in its India business due to the growing number of global capability centres (GCCs) in the country, according to the company's top executives.

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IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA

Four members of IAMAI, including Bharat Matrimony, Match Group, Hoichoi, and ShareChat, express divergent views on ex-ante regulation in the draft DCB to the Ministry of Corporate Affairs.

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Spain's data protection agency suspends two of Meta's EU election apps

Spain's data protection watchdog AEPD orders the provisional suspension of Meta's planned products for the European election on Instagram and Facebook, citing potential violations of Spanish data protection laws.

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Reliance Retail starts ONDC pilot via retail platform Fynd

Reliance Retail, a subsidiary of Reliance Industries, has begun testing the government's Open Network for Digital Commerce (ONDC) through Fynd, an omnichannel retail platform in which Reliance holds an investment.

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Wipro's majority public shareholders oppose ex-CEO Delaporte's $4.33 million severance

At least 78.4% of the Azim Premji-led IT major's public shareholders or 10.31% of overall shareholders voted against the cash compensation awarded to Delaporte, showed the voting records published on BSE on Thursday.

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B2B fintech startup Vegapay raises $5.5 million from Elevation Capital

Vegapay had raised $1.1 million in its first institutional funding round in 2023 led by Eximius. According to the company, the newly raised fund will be used to enhance Vegapay’s product suite, focusing on product development and regulatory compliance.

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Services replaces edtech as most popular sector among student founders: Campus Fund report

Campus Fund invests in startups run by students and offers mentorship and guidance on investing. The firm describes student founders as those who are currently students, or graduates and dropouts in the previous three years, with at least 25% equity in the company.

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Govt eyes time, spend curbs to tackle gaming addiction

The government is leaning towards imposing time limits as opposed to certifying games as permissible or non-permissible through self-regulatory organisations (SRO), an official at the IT ministry said.

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Myntra gained market share, scaling beauty and home decor: CEO Nandita Sinha

Over the past year-and-a-half, online fashion retailer Myntra has gained market share even as rivals like Reliance Ajio and Nykaa Fashion have snapped at its heels, chief executive Nandita Sinha told ET in an interview–without naming the competition.

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France looks to elusive EU capital market to fix startup funding

A hodgepodge of local regulations and oversight has kept Europe's financial markets largely shaped by national borders, preventing the emergence of deep capital markets to rival the United States.

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Ecommerce fails to click for firms in Q4 as sales dip across segments

Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.

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Odisha Board 10th result 2024 declared at bseodisha.ac.in, 96.07% students pass: Access scorecards after 11:30 AM

The Odisha Board announced the Class 10th Result 2024 today, with 5.41 lakh students appearing for the exams. Achieving a commendable 96.07% pass rate, 5,30,153 students successfully passed, albeit slightly lower than last year's 97.99%. Girls outperformed boys, and top-performing districts were Cuttack and Jagatsinghpur, while Nuapada recorded the lowest pass rate.To access results, visit orissaresults.nic.in or bseodisha.nic.in and provide Roll Number and Date of Birth. To qualify for the 11th grade, students must score at least 30 marks in each subject and maintain an overall grade point average of 33%.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Indian Railway ICF Chennai Recruitment 2024: Apply for 1010 vacancies, direct link here

Indian Railway ICF Recruitment: The Indian Railways' Integral Coach Factory has started online applications for 1010 apprentices in various engineering trades at pb.icf.gov.in. Here is the direct link to apply, eligibility details, stipend and more.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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JIPMAT 2024 city intimation slip released, admit cards expected soon: Direct link to check

The National Testing Agency (NTA) has released the city intimation slip for the Joint Integrated Programme in Management Admission Test (JIPMAT) 2024. Candidates can now download their exam city slip from the official website, jipmat.nta.ac.in, using their application number and date of birth. This slip is not the official admit card.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Sacred Games: How Indian mythology is taking over gaming consoles

Indian gaming enthusiasts now have access to games rooted in Indian history and culture, like managing the Ayodhya Ram Temple's functioning and building the Vande Bharat Express. Players can immerse themselves in the world of the legendary Tamil emperor Rajendra Chola and experience high-speed chases and stealth attacks.

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Airlines, hotels, retailers fear being left out in Google's search changes

Airlines, hotels, and retailers urge EU tech regulators for fair treatment in Google's compliance with DMA regulations. Concerns raised about revenue impact as Google's response focuses on changes favoring large intermediaries and aggregators, with ongoing investigations by the Commission.

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A quarter of hits & a few misses; and other top tech, startup stories

Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.

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India may outpace Nutanix’s global growth metrics: CEO

CEO Rajiv Ramaswami told ET in an exclusive interaction on the sidelines of the company's annual .NEXT conference in Barcelona that Nutanix sees its India growth rate outpacing its projected global metrics for Annual Recurring Revenue (ARR) and profitability.

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Steep H-1B fee hike to burn a big hole in IT companies pockets

The steep hike in US H-1B visa fees could spell bad news for Indian IT service providers and dent their pockets significantly, experts and industry insiders have warned.

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HCLTech to buy Hewlett Packard’s communications tech assets for $225 million

As part of this agreement, HCLTech will also absorb around 1,500 employees and 700 contractors with experience of engineering services for telecom industry in countries including Spain, Italy, India, Japan, China, Americas and APAC region, HCLTech said in a regulatory filing on Thursday.

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Bengaluru startup that makes silicon replacement for chips to scale production

Single-walled carbon nanotubes (SWCNTs), which Bengaluru-based NoPo makes, have applications of a wide range, from EV battery manufacturing, where the material can improve energy density, to design of semiconductors.

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Amazon to invest 15.7 billion euros in Spain

Amazon's cloud computing division AWS will invest 15.7 billion euros ($17 billion) to expand its data centres in Spain's Aragon region through to 2033, the US tech giant said Wednesday. Amazon in 2021 had planned to invest 2.5 billion euros in Aragon, where it has three data centres.

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UPSC CMS 2024 Exam Schedule released at upsc.gov.in, check date here

The Union Public Service Commission released the UPSC CMS 2024 Exam Schedule for the Combined Medical Services Examination, 2024 on May 21, including the exam date, schedule details, and specific papers.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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RBSE Class 12 Result 2024 Scrutiny Form released at rajeduboard.rajasthan.gov.in, direct link to apply

The Board of Secondary Education, Rajasthan (BSER) has released the scrutiny application form for the RBSE 12th Result 2024 today, May 21. Students can apply for scrutiny by visiting the official website at rajeduboard.rajasthan.gov.in and bseronline.in. The deadline for applications is May 30 without a late fee and June 4 with a late fee.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Ananant Systems working with major local OEMs to develop BSNL’s 5G chip

Bengaluru-based Ananant Systems is looking to address the expanding requirements for advanced connectivity, computing, and security for wireless 5G and 6G infrastructure and devices. Its offerings include intellectual property (IP), chip design, semiconductor products, software, and systems, all developed and owned in India.

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Traditional financial services catch the super app bug

Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building superapps -- a one-stop applications for all their customers' needs. This development comes as large groups such as Reliance Industries and Tata Group have already rolled out such superapps for everything from shopping to payments and credit under one roof.

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Nikhil Kamath, Manyavar family office may join A91 in Rare Rabbit’s Rs 500 crore funding

Bootstrapped till now, Rare Rabbit clocked revenue of over Rs 600 crore in fiscal 2024, with an operating profit of more than Rs 100 crore, as per sources in the know.

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Investors taking a shine to Indian climate tech space

Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.

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JEE Main 2024 Paper 2 result declared: Direct link to check, key highlights

The National Testing Agency announced the JEE Main Session 2, Paper 2 exam 2024 results on jeemain.nta.ac.in for candidates who appeared on April 12, 2024. They can check scores, download scorecards, view exam details, follow the login process, and understand the download process.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Top two tech firms shed Gen Z flab, gain silver muscle

The share of Gen Z employees - or those aged 30 and under - fell by about 5 percentage points last fiscal at Bengaluru-based Infosys, and by over 2.5 percentage points at Mumbai-based TCS. The trend underscores a tepid IT hiring climate amid industry turbulence, which have impacted onboarding of young talent the most.

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Innovation challenges faced by businesses in the age of AI

With regards to gen AI, 41 per cent of Indian businesses feel the pace of its adoption has been too quick, which has given rise to a number of challenges for decision makers, business owners and employees, Anil Sethi, vice-president, infrastructure solutions group, Dell Technologies India, told ET.

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‘Gen AI is a friend, not a foe’...is Infosys founder NR Narayana Murthy’s message to critics of the modern technology

NR Narayana Murthy and S ‘Kris’ Gopalakrishnan discuss the transformative potential of Gen AI, the challenges of technology misuse, the benefits of technology adoption in banking, and India's potential to compete with China in business environment.

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Odisha CPET 2024 scheduled from July 3 to 14

Common PG Entrance Test (CPET)-2024 for PG admission in Odisha's degree colleges and universities will be conducted from July 3 to July 14. Applications available on Student Academic Management System (SAMS) by May 27. Includes MA programme at Odia University, Satyabadi, and PG courses of Shri Jagannath Sanskrit University, Puri. Admission process includes three phases.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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TS EAMCET Result 2024 likely to be released today at eamcet.tsche.ac.in, how to download

Jawaharlal Nehru Technological University (JNTU), Hyderabad to declare TS EAMCET Result 2024 today. Candidates can check Telangana State Engineering, Agriculture & Pharmacy Common Entrance Test 2024 result on the official website.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Quick commerce 2.0, and other top tech & startup stories this week

​Quick commerce, the buzziest sector in the consumer internet industry, is undergoing a significant transformation. We, at ETtech, have been tracking the sector super closely and bringing the biggest and most impactful stories to you, first.

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Indian crypto investors take illegal routes to avoid tax burdern

Peer-to-peer trading through escrow services on banned crypto exchanges has increased five times during weeks of high trading volume in March and April, according to a study conducted by Delhi-based policy think tank Esya Centre.

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AP fire-hit Foxlink back on track with a new Tamil Nadu plant

Apple supplier, Foxlink of Taiwan, is setting up a new factory in Oragadam, close to Chennai. This move comes as part of a fresh expansion plan following a destructive fire at their facility in Tirupati, Andhra Pradesh, last year.

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Uber gets nod to run bus service in NCR

Uber has received a licence from the Delhi transport department to run its bus services. This is under the government’s app-based premium bus aggregator scheme notified last November which aims to encourage the upper middle class to switch to public transport.

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Google incorporates artificial intelligence into its search engine

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UPI growth 2.0: Efforts on to crack DBT code

UPI user base hovering around 300 million for some time; RBI, banks trying to push up this number

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Govt eyes pvt-public cloud model for chip designs for easy access

This facility will provide easy access to chip and packaging designs to startups, researchers and small firms, as per the plan.

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Ankush Aggarwal returns to Ola Cabs; declining H-1B visas for IT staff

Happy Tuesday! Ola Cabs founder Bhavish Aggarwal’s brother Ankush is back at the ride-hailing business. More on this in today’s ETtech Morning Dispatch.

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Ola Cabs brings back Ankush Aggarwal to its ride-hailing biz

Amid top-level changes at Ola Cabs, founder Bhavish Aggarwal’s brother Ankush Aggarwal has returned to the ride hailing business after a stint with electric scooter maker Ola Electric. Ankush has also been made chief executive of Ola Financial Services.

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Centre plans a unified portal for all digital public goods

In a move to streamline access, the government is developing a central platform to house all its digital public goods (DPGs). This one-stop portal aims to simplify citizen interaction with services like Aadhaar, UPI, and ONDC.

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AI adoption in key Indian sectors touches 48% in FY24

A Teamlease Digital study revealed high AI adoption in pharma and healthcare (52%), followed by FMCG and retail (43%). Manufacturing (28%) lagged behind, while infrastructure & transport (20-22%) and media & entertainment (10-12%) saw the least adoption.

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Bihar STET Admit Card 2024 out at secondary.biharboardonline.com, direct link here

The Bihar School Examination Board (BSEB) has issued the Bihar STET 2024 Admit Card for the Secondary Teacher Eligibility Test (STET). Candidates can access their hall tickets on the official website, secondary.biharboardonline.com. The exam will be conducted in two phases: Paper 1 from May 18 to 29, 2024, and Paper 2 from June 11 to 20, 2024. Prior to this, candidates were given the opportunity to rectify any errors on their dummy admit cards, available in phases from January 12 to February 21, 2024, and March 4 to 8, 2024.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Maharashtra Board Result 2024: MSBSHSE addresses speculations surrounding the release of SSC, HSC results

The Maharashtra State Board of Secondary and Higher Secondary Education (MSBHSE) has addressed speculations surrounding the release of the Maharashtra SSC and HSC Result 2024. With over 14 lakh HSC and 15 lakh SSC candidates this year, the board is expected to announce results in the third or fourth week of May. To check results, students can follow simple steps outlined on the official website. Passing criteria mandate a minimum of 35% in both theory and practical subjects.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Eye on AI: Apple’s chip game, Meta's GenAI tools for advertisers and other top developments

Apple integrates AI features into data centres and new iPad Pro. Meta launches enhanced generative AI tools. OpenAI joins C2PA steering committee. US lawmakers introduce bill on AI models export control. Microsoft and OpenAI fund AI literacy for voters.

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UGC NET June 2024 registration deadline extended till THIS date, direct link to apply now

National Testing Agency extends UGC NET June 2024 registration deadline to May 15. Apply online at ugcnet.nta.ac.in following steps 1-7. Correction window open May 18-20 for UGC NET 2024 applications.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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GSEB 10th Result 2024 OUT: Gujarat Board SSC Results declared at gseb.org, direct link to download

GSEB announces the Gujarat Board 10th Result 2024, available on gseb.org. Students can access their scorecards following exams held from March 11 to 26. Chairman Banchha Nidhi Pani confirms the release during a press conference. Re-evaluation options are available for dissatisfied students. The procedure involves simple steps on the official website. Additionally, results can be obtained via SMS or WhatsApp. A pass percentage of 33% is required, with supplementary exams available for those who fall short.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Meesho closes $275 million funding in first tranche, in talks for more

Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.

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GenAI production deployments on the rise in India: EY India

20% of gen AI PoCs in India were in production in FY 2024. FY 2025 expects revenue growth, AI agent bots deployment in customer service, sales, underwriting, document intelligence.

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Centre eyes dedicated R&D wing under semicon research centre

Government plans R&D wing at India Semiconductor Research Centre (ISRC) for semiconductor research with a focus on industrial production, public-private partnerships, and intellectual property rights-driven manufacturing ecosystem. The project aims for next-gen semiconductor development and involves higher education institutes like IIT Bombay and IIT Gandhinagar.

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Aditya Birla Finance, others may have invoked Paytm’s loan guarantees

Aditya Birla Finance invoked loan guarantees from Paytm due to defaults. Partnership stress with other lenders. Paytm's lending business faces challenges post central bank's ban. Changes in top management. Reduced consumer loan portfolio to less than 1%.

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Creators wielding AI reimagine creativity on a budget

Anirudh Ravichander and Yashraj Mukhate lead AI experimentation in music. Ad-film makers and marketers embrace AI for cost-effective content creation. General purpose AI tools gain traction for creative endeavors in various industries.

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Rising enrolments and tuition fees drive growth in Indian education sector

India Ratings and Research (Ind-Ra) has maintained an improving outlook for the education sector for the financial year 2024-25, driven mainly by continuously growing enrolments along with rising tuition fees per student.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Unicorn sightings become rare as VCs shun that leap of faith

Investors are going back to the same list of startups they have already backed to write bigger cheques leading to new unicorn sightings becoming rare. Only Perfios and Ola founder Bhavish Aggarwal’s Krutrim AI have become unicorns so far in 2024, and the number was the same for the whole of 2023.

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IT companies Cognizant, Capgemini hired 1.5 lakh less hands in 2023

Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions.

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States frame laws to regulate online gaming in absence of central policy

MeitY's self-regulatory proposal for online gaming led to state laws in Tamil Nadu and Karnataka. Trai consulted on National Broadcasting Policy 2024. Challenges include defining skill-based gaming versus gambling and regulatory clarity in the online gaming industry.

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NEET-UG sees record candidates for exam in India

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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ET has the lowdown on five of the most exciting startups at ARTPARK

Strider Robotics develops agile legged robots for rough terrains. Hones quadruped robot platform. Emphasizes motor drivers, robotic joint actuator, and actuator testing. Includes pneumatic soft gripper, VayDyn, and autonomous drone platforms.

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AI has hit human-level performance on some parameters: Stanford report

Here's a summary of the noteworthy insights from the 'AI Index 2023' report by the Stanford Institute for Human-Centered Artificial Intelligence.

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Coforge’s $220-m Cigniti acquisition biggest, but not disproportionately bigger: CEO Sudhir Singh

Coforge's $220 million acquisition of Cigniti under CEO Singh's leadership aims to expand into new verticals, add fortune-500 clients, and strengthen North America market. Past acquisitions and focus on organic growth indicate a strategic approach to growth.

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5 Best student cities in Germany for International scholars: Top institutes, average living expenses and more

Germany's appeal to Indian students stems from its affordability, with low or no tuition fees and lower living costs compared to other European hubs. Its top-ranked universities offer exceptional academic and research opportunities, highly valued by global employers. Various scholarships and post-study work permits further enhance its attractiveness. ​​Here are 5 best students cities, as ranked by the QS World Rankings 2024.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Govt seeks inputs from industry to design more here

Government collaborates with industry to boost electronics manufacturing in India, focusing on domestic value-add and encouraging smartphone and notebook design ecosystem. Emphasis on intellectual property and localization for global market competitiveness.

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Midcap IT companies buck the trend to add more employees

Mid-sized IT firms showed workforce growth in fiscal 2024, contrasting major Indian IT firms' decline. Demand rose for tech services from domestic and global sectors. Automation may impact headcount. Mid-tier firms excel in engineering services with strong growth.

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Micron to roll out first India-made chips from Sanand unit in 2025

Micron India's Sanand unit focuses on exporting chips. Anand Ramamoorthy highlights global demand, partnerships, and multiple sector usage. Emphasis on agility and talent scarcity in niche sectors like cybersecurity.

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Fixed income startup Dexif secures $4 million in funding from RTP Global

Bengaluru's Dexif raises $4M from RTP Global, dealing in fixed income securities. Founded by Bhandari, Sharma, and Bajaj. Aims to enhance tech, attract talent, and expand operations.

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NEET UG Admit Card 2024 OUT at neet.ntaonline.in: Here's the direct link to download

The National Testing Agency has issued NEET UG 2024 Admit Cards, available for download on neet.ntaonline.in. Candidates can access them using their application details. Here's a guide: Visit the official website, locate the admit card link, enter credentials, verify details, and download. The exam is scheduled for May 5, 2024, with over 24 lakh registered candidates.

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