Breaking news, insights & smart analysis on the business of technology, startups & the new economy in India, from the reporters at The Economic Times.
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The funding was wired to the company on Friday, while the remainder of the round, which could total as much as $20 billion, is expected to close in the coming weeks, according to the report.
Read the full story here👇
economictimes.indiatimes.com…
📢OpenAI has closed on new funding of $11 billion, the initial part of a round that values the company at $1.25 trillion, Bloomberg News reported on Friday, citing people familiar with the matter.
Read the full story by @ShristiAcharET 👇
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Tech Mahindra’s subsidiary, PF Holdings BV, entered into a commitment to buy the shares at 1.20 euros each, the Indian IT services company said in a stock exchange filing on Friday. The shares account for 10.02% of Pininfarina’s issued capital.
🆕Tech Mahindra will raise its stake in Pininfarina to 92.59% by acquiring 7.89 million shares for up to 9.46 million euros in cash, as the Italian car design firm moves towards delisting from Borsa Italiana.
🆕 TheLiverDoc, Deepinder Goyal spar again as doctor dubs Temple’s ‘Entropy’ ‘scienceploitation’
@theliverdoc defined scienceploitation as a tactic in which brands borrow the language of emerging science to sell unproven products.
economictimes.indiatimes.com…
🆕 Equinix seeking land for India data centres: CEO
The world’s largest data centre operator by footprint, valued at nearly $100 billion, has invested $365 million in India and sees significant opportunities in AI inference.
By @HimanshiET
economictimes.indiatimes.com…
🆕 OpenAI gets $11 billion funding at $1.25 trillion valuation: Report
The funding was wired to the company on Friday, while the remainder of the round, which could be as much as $20 bn, is expected to close in the coming weeks, according to the report.
economictimes.indiatimes.com…
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Government clears Rs 7,503 crore investments under ECMS in sixth tranche
Read here:
economictimes.indiatimes.com…
📌 The latest group of 12 applicants includes manufacturers of upstream materials such as anode and cathode materials.
📌 Together, these companies plan to produce goods worth Rs 82,243 crore at facilities across 10 states and employ more than 9,500 workers.
🚨 The government on Friday approved investments totalling Rs 7,503 crore under the Electronic Component Manufacturing Scheme (ECMS) for the sixth tranche of beneficiary firms.
Late-stage deals accounted for 56.5% of the capital raised, while early-stage transactions made up 22.8%. Seed-stage companies comprised 20.6%, with other deals accounting for the remaining 0.1%.
📲Read full story here👇
economictimes.indiatimes.com…
Eloelo led deal activity with $80 million, followed by Peppermint Robotics at $10.6 million, altM at $10.3 million, Two Point O Capital at $10 million, and PowerUp Money at $10 million. Crane Venture Partners was among the most active investors.💸💰
🆕Indian tech and startup funding rose to $141.5 million across 19 rounds during the week ended November 6, up 27.4% from the previous week's tally, per data from Tracxn. However, this was 35% lower than the same period last year.
Heavy demand across platforms led to dark stores in multiple pincodes in Delhi, Mumbai, and Bengaluru temporarily pausing services on Friday due to a paucity of delivery executives.
📲Read full story by @dishaacharya_ and @AyantiBera here👇
economictimes.indiatimes.com…
Quick commerce platforms witnessed a surge in demand on Dhanteras as consumers rushed to make last-minute purchases of occasion-specific products such as puja thalis, gold and silver coins and lightweight jewellery.🛵📿🪔
ETtech #Top5 | US polls hit tech stocks; Qcomm’s Dhanteras gold rush
Also in the letter:
■ Honasa Q2 revenue jumps
■ Deepinder Goyal vs TheLiverDoc
■ Angel One overtakes Zerodha
Read more👇
economictimes.indiatimes.com…
