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TechCrunch
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Rivian’s software boss is ‘super excited’ about third-party apps
- Rivian's chief software officer, Wassym Bensaid, expressed excitement about third-party apps and an ecosystem of partners developing their own apps for Rivian's vehicles.
- Rivian aims to create a software environment where different applications can work with and on the vehicle's software, potentially leading to new revenue opportunities.
- The company has already engaged with TezLab, a platform for Tesla owners, and is in discussions with other potential partners.
- Rivian is working towards developing a robust and well-documented software development kit for app developers.
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Bloomberg Quint
Salesforce India FY24 Profit Surges 40% To Reach Rs 888 Crore
- Salesforce India's net profit for fiscal 2023-24 surged by 40% to reach Rs 888.3 crore.
- The company's revenue also grew by 36% to Rs 9,116 crore, crossing the $1 billion mark for the first time.
- Salesforce is leasing a 12-storey building in Bengaluru, making it the 10th city globally to have a 'Salesforce Tower'.
- The company aims for 8-9% growth in the global topline to $38 billion in fiscal 2024-25.
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TechCrunch
Mozilla Foundation lays off 30% staff, drops advocacy division
- The Mozilla Foundation, the nonprofit arm of the Firefox browser maker Mozilla, has laid off 30% of its employees.
- The layoffs are part of a reorganization aimed at increasing agility and focus on ensuring a more open and equitable technical future.
- The layoffs affect the foundation's advocacy and global programs divisions, which are no longer part of the organization's structure.
- Mozilla's executive director cites the need for a unified narrative and hard choices in the face of a rapidly changing technology landscape.
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Inc42
Pixxel’s Commercial Satellite Constellation To Be Launched Early Next Year
- Spacetech startup Pixxel is set to launch its commercial satellite constellation called Fireflies early next year.
- The constellation will consist of six hyperspectral satellites with more than 150 spectral bands, offering unparalleled imaging capabilities.
- Pixxel plans to expand the constellation to 24 satellites by 2025, each weighing around 50 kg.
- The data from the Fireflies constellation will have applications in agriculture, mining, environment, and more.
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Yourstory
Ecozen’s FY24 profit rises two fold, revenue up 57.2%
- Ecozen reported a 57.2% rise in full-year revenue to Rs 464.45 crore.
- The company's profit for the period increased by 250% to Rs 377.14 crore.
- Expenses for the period rose sharply to Rs 439.49 crore.
- Ecozen plans to expand into new segments and regions, including Africa and Southeast Asia.
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TechCrunch
Apple may update Find My app to let you share locations of lost items
- Apple is planning to update the Find My app to allow users to share the location of lost items with people who are not in their contacts.
- The feature was spotted in the iOS 18.2 developer beta and is intended to help locate lost items by sharing their location with others.
- The updated app will provide a shareable link that can be opened on any device, including non-Apple devices, to track the item.
- Users will also have the option to share their contact information, such as phone number and email, to facilitate communication with the person who finds the item.
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2.4k reads
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Inc42
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Inflexor Ventures Marks First Close Of Opportunities Fund At INR 280 Cr
- Inflexor Ventures has marked the first close of its Opportunities Fund at INR 280 Cr ($33.73 Mn).
- The fund will acquire the entire investment portfolio of Inflexor’s first fund, generating returns for existing investors.
- Inflexor plans to allocate part of its corpus over the next 3-5 years to maintain or increase stake in portfolio companies.
- The firm focuses on early-stage technology startups and typically invests between INR 5-20 Cr in seed to Series A rounds.
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Yourstory
Lenskart pares losses by 84% in FY24, revenue grows 43% as opposed to being doubled a year ago
- Omnichannel eyewear retailer Lenskart reduced its losses by 84% in FY24 to Rs 10.15 crore compared to Rs 63.7 crore in the previous year.
- Lenskart reported a 43.2% growth in operating revenue, reaching Rs 5427.7 crore in FY24, up from Rs 3788.02 crore in FY23.
- The company's total expenses increased by 37%, driven by employee benefit expenses, interest payments, and cost of materials.
- Lenskart received Rs 2271.6 crore in FY24 from its international operations, indicating growth in its global expansion efforts.
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3.5k reads
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Startup Pedia
Amazon Starts Clinic for Indian Users to Get Fast Medical Consultation
- The American e-commerce giant Amazon has launched an online medical service called Clinic in India.
- Users can take Amazon clinic service through its app for online consultations on over 50 medical conditions.
- The service is user-friendly, with easy registration and options for virtual or clinical visits.
- Clinic offers consultations with experienced doctors and has privacy measures for medical records.
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4k reads
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CNBC
Perplexity AI in final stages of raising $500 million round at $9 billion valuation
- Perplexity AI is in the final stages of raising $500 million in funding at a $9 billion valuation.
- The startup competes against Google and OpenAI and has raised four funding rounds this year.
- OpenAI recently launched a search feature in its chatbot, ChatGPT, to compete with Perplexity.
- Perplexity has faced controversy over plagiarism accusations but has introduced a revenue-sharing model for publishers.
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HRKatha
Meenakshi Priyam takes charge as CHRO, automotive business, Mahindra Group
- Meenakshi Priyam has been appointed as CHRO, automotive business, Mahindra Group.
- She has previously held leadership positions in companies such as udaan.com, Johnson & Johnson, Novartis, and GSK.
- She is known for her expertise in HR business partnering, compensation, and benefits.
- Meenakshi Priyam is also the Chair-Diversity, Equity, and Inclusion Committee at Bombay Chamber of Commerce and Industry.
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739 reads
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Inc42
Paytm Introduces UPI Statement Download Option
- Paytm has introduced a new feature allowing users to download their UPI transaction statements.
- The feature aims to assist users in tracking expenses, managing budgets, and preparing for tax filing.
- Users can download transaction records in PDF format for any selected date range or financial year.
- The statement includes transaction details such as amounts, recipients, timestamps, and associated bank accounts.
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6.3k reads
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HinduBusinessLine
Swiggy IPO: How many restaurant partners, dark stores did food delivery platform add to network in Q1?
- Swiggy added 33,352 active monthly restaurants, a rise from 22,889 a year earlier.
- As of June 30, Swiggy operated 581 dark stores, an increase from 444 in 2023.
- Swiggy opened 59 new dark stores and closed 16, resulting in a net increase of 43.
- For the fiscal year ending March 31, 2024, Swiggy added 220 dark stores and closed 142.
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15.3k reads
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HinduBusinessLine
Image Credit: HinduBusinessLine
Shares plummet a day after Titan’s Q2 FY25 results
- Titan reported a 25% decline in net profit for Q2 FY25, with profit falling to ₹705 crore.
- Total income for the quarter rose by 24% to ₹12,458 crore.
- Demand in Titan's jewellery segment increased after customs duty on gold imports was reduced, leading to strong sales momentum.
- Consolidated sales for Titan increased nearly 26% to ₹13,473 crore during the quarter.
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841 reads
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Analyticsindiamag
OpenAI Introduces Predicted Outputs for Improving Latency in LLMs
- OpenAI has launched the Predicted Outputs feature for developers using GPT-4o and GPT-4o-mini to improve efficiency and reduce latency of responses.
- Users can input a 'prediction string' that significantly reduces response times during repetitive tasks or minor document edits.
- The feature predicts known outputs in advance, generating fewer tokens, leading to reduced latency.
- OpenAI encourages developers to experiment with the predictive text feature to maximize efficiency in tasks that require frequent minor adjustments.
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