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Economic Times
3w
240
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Capillary Technologies’ DRHP highlights rising competition, AI impact on business
- Capillary Technologies' draft red herring prospectus (DRHP) emphasizes growing competition in acquiring and retaining enterprise customers, AI's impact on business, and changing market dynamics.
- The Bengaluru-based company plans to raise Rs 430 crore through its upcoming initial public offering.
- Revenue for 2024-25 totaled Rs 598 crore, a 13.9% increase from the previous fiscal year.
- Capillary Technologies faced customer attrition, especially among large enterprise clients, due to competition offering similar services.
- AI is a significant focus, mentioned 81 times in the DRHP compared to 18 times in the 2021 prospectus, with the company incorporating AI into its solutions and operations.
- The company acknowledges the evolving nature of AI and the potential impact on customer reliance on external services.
- Capillary Technologies invested 21.50% of its revenue in R&D in 2024-25, lower than the previous year's 28.04%, with plans to invest Rs 151 crore in research and development.
- To enhance competitiveness, the company aims for inorganic growth through acquisitions to expand into new business areas.
- Challenges include facing competition from firms developing in-house solutions, challenging macroeconomic conditions, and uncertain market dynamics.
- Risk factors highlighted include the potential impact of customers adopting in-house AI capabilities on the need for Capillary Technologies' services.
- The company aims to mitigate risks, challenges, and unintended consequences associated with AI implementation and adoption.
- Capillary Technologies attributes the decline in R&D investment as a percentage of revenue to ongoing efforts to maintain a competitive advantage.
- Inorganic growth through acquisitions is a strategic initiative to enter new business domains, although specific expenditure details were not disclosed.
- The DRHP filing outlines the company's continued focus on leveraging AI, managing competition, and navigating dynamic market conditions to sustain growth.
- Despite customer attrition challenges, Capillary Technologies aims to bolster its offerings and stay abreast of AI advancements to drive performance and market presence.
- Capillary Technologies' strategic investments in research, development, and potential acquisitions underscore its commitment to innovation and adapting to market demands.
- The company's emphasis on AI integration, customer engagement strategies, and revenue growth reflects its proactive approach towards business sustainability and expansion.
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TechCrunch
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424
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Rippling spy says men have been following him, and his wife is afraid
- Keith O'Brien, a confessed Rippling spy, has been granted a restraining order against unidentified men who have been following him.
- O'Brien testified that multiple men in different vehicles had repeatedly followed his car and watched his home.
- He previously confessed to being a spy for Deel, paid to steal Rippling's internal data, but was caught in an elaborate honeypot trap.
- Rippling is now supporting O'Brien in a lawsuit against Deel, who is countersuing Rippling for allegedly spying on them.
- O'Brien claims the incidents have caused emotional and psychological damage to him and his wife, affecting their sleep and concentration.
- He fears for the safety of his four children and hired a security consulting company to investigate.
- O'Brien speculated that the incidents might be harassment related to his role as a witness.
- Despite O'Brien linking the men to Deel, there is no evidence tying them together.
- During the legal proceedings, Deel denied any knowledge of the men following O'Brien.
- A judge, when granting the injunction, referenced the situation as reminiscent of a '1970s cops and robbers' TV show.
- O'Brien finds himself in a bitter conflict between the two rival HR tech companies, which has taken a toll on him, as per his testimony.
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Siliconangle
3w
433
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Report: Apple has held internal discussions about acquiring Perplexity
- Apple executives have been in discussions about potentially acquiring Perplexity AI Inc., a consumer-focused search engine powered by AI models.
- The talks are in the early stages and might not result in a deal, although Perplexity received a $14 billion valuation in a recent funding round.
- Perplexity's search engine generates natural language responses and has seen significant user growth, with more than 15 million monthly users reported in April.
- The company processes a large volume of user queries each month, showing steady growth, with revenue sources from paid search engine editions and APIs for developers.
- Apple's VP of corporate development, Adrian Perica, has discussed the potential acquisition internally, with Perplexity's search provider not directly involved in the talks.
- Meta Platforms (formerly Facebook) previously attempted to acquire Perplexity but walked away over financial disagreements, investing in Scale AI Inc. instead.
- Apple could opt to partner with Perplexity instead of acquiring it, possibly to avoid antitrust scrutiny and reduce costs.
- The talks follow an antitrust trial involving Google paying Apple for default search status on iOS, potentially leading Apple to explore partnerships with Google competitors.
- Perplexity is among AI startups attracting interest for acquisition, with Meta's unsuccessful bid for Safe Superintelligence Inc. as another recent example.
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TechCrunch
3w
399
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Cluely, a startup that helps ‘cheat on everything’, raises $15M from a16z
- Cluely, a startup offering tools to 'cheat' on job interviews, exams, and sales calls, secures $15 million Series A led by Andreessen Horowitz.
- The post-money valuation estimated at around $120 million, according to two investors not involved in the deal.
- Cluely previously raised $5.3 million in seed funding and was co-founded by Roy Lee and Neel Shanmugam, who were suspended from Columbia University for creating an AI-powered tool to aid cheating in technical interviews.
- The startup is profitable, as indicated by Lee's posts on social media and podcasts.
- Lee's controversial social media presence and attention-grabbing videos have been instrumental in promoting Cluely.
- Cluely's launch video featured Lee using an AI assistant to deceive a woman about his age and art knowledge on a date.
- The startup recently faced a setback when a large party planned after Y Combinator’s AI Startup School was shut down by the police due to an overwhelming number of attendees.
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Massivelyop
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345
Co-op roguelike shooter Terminull Brigade nails down a July 29 release date on PC
- Tencent's Level Infinite and Pew Pew Games set a release date for Terminull Brigade, a free-to-play roguelike shooter for PC on July 29th.
- Terminull Brigade offers a mix of strategic roguelite mechanics and intense third-person shooter action in the Nullverse.
- Players engage in battles across different environments, from Futuristic Cities to Wastelands, against AI enemies.
- The game supports teams of up to four players, allowing them to choose heroes and face evolving challenges with diverse build options.
- Post-launch updates for Terminull Brigade will include seasonal events, new characters, story additions, and regular content.
- A demo of the game was available during Steam Next Fest, although it was noted to be somewhat lacking in content but still engaging.
- The demo will be accessible until June 24th due to its popularity during the event.
- Terminull Brigade brings together roguelike elements with cooperative shooter gameplay, promising an immersive experience for players.
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Inc42
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137
Image Credit: Inc42
EV Maker Okinawa To Raise INR 60 Cr From Existing Backer
- EV maker Okinawa Autotech plans to raise INR 60 Cr from existing investor Dhruv Khush Business Ventures by issuing 23.51 Lakh shares at INR 255.21 each.
- The funds will be used for working capital requirements and debt repayment as per the company's MCA filings.
- Okinawa, founded in 2015, manufactures electric two-wheelers and has models like RIDGE+, PRAISE PRO, and IPRAISE+.
- The company has a network of over 350 dealers across India.
- Okinawa has faced challenges in India's electric two-wheeler market, selling 1,266 scooters in 2025.
- The company was scrutinized by the government for allegedly flouting localisation norms under the FAME-II scheme in 2023.
- Okinawa and Hero Electric were the first two OEMs whose incentives were suspended under the scheme.
- In August, the Delhi High Court dismissed Okinawa's plea to restrain the Centre from recovering subsidies worth INR 116.8 Cr disbursed under the FAME-II scheme.
- The Serious Fraud Investigation Office conducted search operations at premises linked to Okinawa in December.
- Okinawa set up a second unit in Rajasthan's Karoli and intermittently manufactured EVs to fulfil orders amid legal conflicts.
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Economic Times
3w
97
Image Credit: Economic Times
Campus Fund launches $100 million third fund
- Campus Fund, specializing in student-led startups, launched its $100 million third fund, the largest yet, with over $50 million already raised.
- Fund III has secured investments from various entities, including family offices and notable individuals like Kanwaljit Singh and Asha Jadeja Motwani.
- The fund plans to invest in 60–80 startups over four years, providing initial cheques between Rs 21 crore and Rs 28 crore, with 50% earmarked for follow-on investments.
- Campus Fund CEO Richa Bajpai emphasized the potential of student founders to innovate globally, highlighting investments in companies like Serendipity Space.
- Previous Campus Fund initiatives include Rs 7 crore in 10 startups in 2020 and a $10 million second fund in 2022, supporting companies like Digantara and D-Nome.
- The focus extends beyond funding, with an emphasis on achieving successful exits for investors, as mentioned by Richa Bajpai.
- Ullas Kammath, a supporter of Campus Fund, highlighted the fund's role in guiding startups through challenges from inception.
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Economic Times
3w
2.3k
Image Credit: Economic Times
Myntra’s launches quick commerce offering M-Now in Delhi-NCR and Mumbai
- Myntra has launched its 30-minute delivery service M-Now in Delhi-NCR and Mumbai after piloting it in Bengaluru with 10,000 SKUs.
- The service offers collections from nearly 600 brands, including popular ones like Vero Moda, Mango, Calvin Klein, and more.
- Myntra plans to expand the service to Mumbai, New Delhi, and Pune based on significant demand from fashion-focused premium customers.
- The company's CEO mentioned customers' need for quick deliveries to access preferred brands swiftly.
- In FY24, Myntra reported a net profit of Rs 30.9 crore with revenue reaching Rs 5,173.7 crore.
- The fashion etailer secured fresh funding of Rs 1,062.5 crore to support its expansion into Singapore and other services.
- Several ecommerce platforms and brands are delving into ultra-fast delivery for fashion products, attracting venture capital investments.
- Slikk, offering 60-minute delivery, raised $10 million, while Snitch secured $40 million for retail expansion and entry into quick commerce.
- Challenges remain in customer behavior, as shoppers tend to stick to basic wardrobe items despite initial enthusiasm for fast deliveries.
- Forecasting fashion demand and managing returns are noted as pain points, with the rapid fashion model still evolving.
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Gritdaily
3w
185
Image Credit: Gritdaily
How Kwaku Otchere Is Leading the Next Era of Event Tech
- Kwaku Otchere, founder of Vipass Inc., is revolutionizing event technology by focusing on connection, security, and engagement.
- Vipass's platform goes beyond ticketing to engage, protect, and connect audiences and organizers throughout the event lifecycle.
- Otchere's background at Apple and The Walt Disney Company influences Vipass's emphasis on solving problems at scale and prioritizing the end user.
- Vipass aims to reintroduce intention into live events and create memorable experiences beyond just ticket sales.
- The platform prioritizes identity verification to enhance security and prevent fraud, while also enabling real-time communication between organizers and attendees.
- Vipass's human-centered approach has gained momentum, with successful implementations at large-scale events like Prague's New Year's Eve celebration.
- Otchere's leadership style focuses on building technology that users value and trust, rather than just impressing investors.
- Amidst AI and metaverse trends in event tech, Vipass stands out for its emphasis on connecting with attendees in a meaningful way.
- Otchere believes in putting connection at the forefront of event experiences, ensuring engagement long before and after events.
- Vipass's focus on personal, immersive, and intuitive event experiences sets it apart in the evolving landscape of event technology.
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TechCrunch
3w
5.4k
Image Credit: TechCrunch
Snap acquires Saturn, a social calendar app for high school and college students
- Snap has acquired Saturn, a social calendar app catering to high school and college students.
- Saturn allows students to manage school schedules and share them with peers.
- The financial terms of the acquisition were not disclosed.
- Almost the entire Saturn team, with nearly 30 employees, is joining Snap.
- Snap plans to integrate Saturn's calendaring expertise into Snapchat in innovative ways.
- Saturn was founded in 2018 and aims to create a social calendaring experience.
- Users can share schedules for classes, practices, meetings, and more with friends.
- Snap states that Saturn is widely used in U.S. high schools, supporting 80% of them.
- The collaboration between Snap and Saturn aims to enhance real-world connections.
- Forbes reported that Saturn raised $44 million in funding in 2021 from various investors.
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TechCrunch
3w
115
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The startups rolling out of Europe’s early-stage micromobility scene
- Early-stage micromobility startups in Europe are emerging with a focus on sustainability and practical solutions.
- Convoy from the UK offers a clip-on cargo kit for bikes and e-bikes, aiming to make parental transportation easier.
- Azora Charge from Germany provides solar-powered charging and parking stations for e-bikes, addressing the need for secure facilities.
- Fleetser is a marketplace in Europe that refurbishes and sells shared electric bikes and scooters, assisting new and established operators.
- Switch, an Italian startup, utilizes AI for fleet planning and management, with products like Urbiverse and Urban Copilot.
- Zapp from Bosnia and Herzegovina offers a super app combining food delivery, micromobility, package delivery, and other services through a franchise model.
- J2R, a French startup, produces Smol, an electric motorcycle designed for urban use and street culture enthusiasts.
- Trace Mobility, founded by Tobias Meurer, provides business intelligence services for bike and car-sharing operators, helping optimize profitability.
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Dev
3w
84
Image Credit: Dev
Fixing Slow Engineering Teams — An Extended Field Guide for Founders
- Series A companies often face challenges after achieving product-market fit, but can reverse trends with five proven moves like cross-functional squads, Shape Up cycles, Kanban flow, TDD, and CI/CD within 60 days.
- Quick wins include transitioning to daily automated deploys, reducing defect rates, and saving developer time without increasing headcount.
- The article emphasizes common pitfalls post-seed funding, such as backlog sprawl, reliance on vendor DevOps, lack of automated tests, and meeting overload.
- It introduces the 'JetThoughts Playbook' which includes creating cross-functional squads, implementing Shape Up cycles, utilizing Kanban flow, practicing TDD, and setting up CI/CD pipelines within a specific timeline.
- The playbook also addresses objections with evidence-based rebuttals and showcases a fintech startup case study, demonstrating significant improvements in cycle time, deployments, and team autonomy.
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TechCrunch
3w
433
Image Credit: TechCrunch
Startups Weekly: Fast and furious
- The startup ecosystem saw rapid developments this week with notable acquisitions and funding rounds.
- Wix acquired Israeli startup Base44 for $80 million, and Ramp's valuation jumped to $16 billion in just three months.
- Meta's deal to acquire 49% of Scale AI for $14.3 billion revealed new details, while OpenAI severed ties with Scale AI.
- The U.S. Department of Defense awarded a contract worth up to $200 million to OpenAI, potentially affecting its relationship with Microsoft.
- Applied Intuition secured a $600 million Series F, Helsing closed a €600 million investment, and Coralogix became a unicorn after a $115 million Series E.
- Mach Industries raised $100 million, Aspora closed a $50 million Series B, and Sword Health received $40 million funding, delaying its IPO plans.
- Multiplier Holdings raised $27.5 million, Grifin secured $11 million in a Series A round, and Polar raised $10 million in a seed round.
- Endeavor Catalyst aims to raise $300 million for its fifth fund to invest in fast-growing startups in emerging markets.
- Fintech investor Alexa von Tobel anticipates Fintech 3.0, emphasizing deep product reinvention to meet changing economic needs.
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Gritdaily
3w
318
Image Credit: Gritdaily
How Mechanic Plug Slashed Technician Hiring Cycles to 30 Days
- More than 80% of auto repair shops struggle to scale due to challenges in finding skilled technicians.
- Mechanic Plug has revolutionized technician hiring by reducing hiring cycles to under 30 days.
- Their emphasis on speed, from lead response time to interviews, sets them apart in the industry.
- Mechanic Plug's tailored placement system focuses on urgency and precision, leading to long-term technician placements.
- The company's success rate in matching technicians with shops is over 95%, resulting in significant revenue increases for clients.
- By handling the entire hiring process and utilizing targeted social media campaigns, Mechanic Plug ensures timely and quality placements.
- Common failures in technician hiring include slow responses, outdated ads, and misunderstanding technician preferences.
- Mechanic Plug's internal culture emphasizes performance, pace, and high-energy execution to meet client needs promptly.
- While prioritizing speed, Mechanic Plug maintains a focus on quality and fit, turning away shops that do not meet their standards.
- Through their innovative approach, Mechanic Plug addresses the ongoing technician shortage in the industry and aims to continue leading the way.
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Medium
3w
376
Image Credit: Medium
Navigating Startup Success with Strategic Product Development
- The episode of Grow Fast Podcast discusses strategies for rapid business growth through efficient product development and scaling, featuring David Hirschfeld, founder of Tekyz.
- Key points include building exceptional software teams, the importance of the 'launch-first' method for quicker product-market fit, and navigating the AI landscape.
- Tekyz emphasizes precise project estimation, granular architecture for cost optimization, and employing AI tools for efficiency.
- Hiring practices prioritize intelligence and continuous improvement, with a focus on recruiting intelligent individuals over those solely based on experience.
- The 'launch-first' method advocates for creating high-fidelity prototypes for early validation before developing a full MVP, targeting early adopters.
- Success stories highlight pivots based on market feedback, like a healthcare software company shifting to an AI-powered virtual nurse, leading to a $5 million investment.
- Discussions cover the evolving AI landscape, Tekyz's internal use of AI for project estimation, and the shift towards simpler, more accessible AI solutions.
- David Hirschfeld shares insights on hiring smart teams, effective project scaling, and emphasizes the importance of testing, documentation, and continuous improvement.
- Tekyz plans to launch new AI tools, including an application for automating niche analysis and Estimiz, an AI-driven project estimation tool.
- David Hirschfeld's interests extend to golfing and woodworking outside of work.
- For more information about Tekyz, visit tekyz.com or contact David Hirschfeld directly at [email protected].
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