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RIL Eyes Slice Of OpenAI Pie, Why Mainstreet Hung Up Its Shoes & More
- OpenAI is in talks with Reliance Industries, Saudi Arabia’s Public Investment Fund, and UAE-based MGX for the second tranche of its $40 billion fundraise, potentially valuing OpenAI at $300 billion post-money.
- Reliance's stake in OpenAI could integrate advanced AI offerings into its network, and OpenAI could develop AI solutions tailored for Indian languages.
- Mainstreet, despite raising $2 million, faced financial challenges due to excessive spending on salaries and marketing.
- GIVA, a D2C jewellery startup, has garnered INR 500 crore in revenue by focusing on Gen Z and millennials.
- SEBI's proposed CIV model aims to streamline co-investments under AIFs.
- Meesho plans to file its IPO papers and relocate from the US to India soon.
- Spinny raised $30 million from WestBridge in its latest funding round, closing the Series F at $170 million.
- PhonePe and Google Pay dominated the UPI market in May, with PhonePe leading in transaction volume.
- ArisInfra files for an IPO to raise about INR 500 crore, set to open for subscription on June 17.
- Krutrim unveils Agentic AI, an AI multimodal assistant available in 11 languages.
- Fitsol, an AI-powered carbon management platform, helps organisations measure, report, and reduce emissions across Scope 1, 2, and 3.
- Fitsol received $1 million in seed funding to support industries in their net-zero journey.
- Fitsol aims to simplify carbon management for businesses amidst increasing focus on corporate sustainability.
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