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Gritdaily
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A Higher Calling in Private Equity: Thomas Carver’s Vision for Community-Centered Capital
- Thomas A. Carver advocates for a community-centered approach in private equity, emphasizing impact on lives and sustainability.
- He criticizes the financial industry for disconnecting capital from communities, leading to instability and neglect.
- Carver promotes investing in familiar places with roots, emphasizing active involvement and understanding of local dynamics.
- He distinguishes between financial engineering and stewardship, urging long-term commitment for economic stability and job preservation.
- Carver emphasizes the social cost of short-term thinking and highlights the value of lasting capital that reinvests and supports.
- His vision redefines success in finance, advocating for investors to make a positive difference and leave a meaningful impact.
- Carver's language and philosophy focus on humility, commitment, and using capital as a force for good in communities.
- The op-ed presents a call for a new ethic of investing in private equity, centered on engagement, reinvestment, and responsibility.
- Carver offers a clear path forward for investors to engage, care, and give back as integral aspects of successful investing.
- His approach aligns with the current need to prioritize impact and redefine successful investor behavior in a changing economy.
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TechCrunch
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a16z-backed Infinite Machine shows off cheaper, modular electric scooter
- New York-based micromobility startup Infinite Machine has unveiled a seated scooter called Olto priced at $3,495, set to launch later this year.
- The Olto will offer 40 miles of range with a swappable 48V lithium-ion battery and a top speed of 20 mph on bike lanes and 33 mph off-road using a 750W rear hub motor.
- Features of the Olto include a headlight with high and low beams, turn signals, and modular elements for customization like a child carrier, rear rack, and fold-out pedals for pedal-assist propulsion.
- The Olto can seat two individuals and has a dual-suspension frame.
- Compared to their P1 model costing $10,000, the Olto's price tag is more affordable, aiming to enter the electric two-wheeler market.
- Infinite Machine received $9 million in funding from Andreessen Horowitz and plans to have vehicles in major cities worldwide.
- The company targets the challenging U.S. market initially, looking to stand out with unique product sensibility and design.
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Inc42
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PhonePe Offloads 5% Stake In MapmyIndia For INR 486 Cr
- PhonePe offloaded a 5% stake in MapMyIndia for INR 486.03 Cr through an open market transaction.
- PhonePe sold 27.21 Lakh shares of MapMyIndia's parent CE Info Systems at INR 1,786.22 each, reducing its stake from 18.74% to 13.74%.
- Motilal Oswal Mutual Fund, ICICI Prudential Mutual Fund, and Tata Mutual Fund bought over 12.88 Lakh shares at INR 1,785 each.
- Motilal Oswal and ICICI Prudential purchased 4.2 Lakh shares each, totaling INR 150 Cr, while Tata Mutual Fund bought 4.48 Lakh shares for nearly INR 80 Cr.
- PhonePe's partial exit led to a 9.39% drop in MapMyIndia's stock, closing at INR 1,768.75 on BSE.
- MapmyIndia saw strategic changes, including CEO Rohan Verma stepping down and a focus shift to automotive and corporate segments.
- MapmyIndia partnered with Qualcomm Technologies to develop automotive connectivity solutions.
- Founded in 1995, MapmyIndia creates detailed maps and location-based tools for businesses and government agencies in India.
- MapmyIndia also offers digital twin services for planning and rescue activities, as well as GPS-based fleet tracking systems.
- Despite PhonePe's exit, MapmyIndia's financials improved with a 28% YoY rise in net profit in Q4 FY24-25.
- For the full year FY25, MapmyIndia's net profit increased by 10% YoY to INR 147.6 Cr, and operating revenue grew by 22% YoY to INR 463.3 Cr.
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Medium
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«How It All Started»
- The individual noticed online money-making opportunities like donations, referral links, and sponsored content, inspiring them to try it out.
- Started by boosting accounts in Clash Royale and creating a VK group, their first experience with online income taught them that it's possible to earn doing what you love.
- Moved on to streaming on Twitch, initially facing challenges with setup but eventually receiving donations from viewers who enjoyed their content.
- Ventured into programming, initially finding it challenging but ultimately creating a game inspired by Subway Surfers before getting confused by the multiple programming languages available.
- Explored graphic design, learning various aspects like composition, color theory, and UI, while managing personal and client projects, although their interest waned over time due to other commitments.
- Acknowledges that none of their attempts were failures but attributes some setbacks to time constraints and occasional loss of motivation.
- Embarking on a new journey with a vlog aimed at sharing experiences and moving forward, emphasizing perseverance and continuous learning.
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Medium
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These 25 Free AI Tools Replaced Every Paid App I Used
- Subscription fatigue is a common issue with many people spending significant amounts on apps.
- The author replaced paid tools with free AI tools, managing to replace 90% of them.
- They have compiled a list of 25 free AI-powered tools covering various categories like design, writing, automation, and development.
- The tools listed do not require sign-up for the most part.
- Some tools mentioned in the list include Hemingway Editor for writing, Notion AI for workspace functionalities, and Lex.page for AI writing.
- Other tools encompass Clipdrop for image editing, Kittl for designing graphics, and RunwayML for video editing with generative AI.
- Additional tools like Tactiq transcribe Google Meet calls, Motion AI for scheduling, and Glasp for online content highlighting are listed.
- Cursor and Replit are coding editors with AI features, while Tabnine offers AI code suggestions.
- Copy.ai is noted for generating blog posts and startup ideas, Durable AI for website building, and Browse AI for data scraping.
- Readers are encouraged to start with a few tools addressing their needs and expand from there.
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TheStartupMag
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Transparency as Strategy: How Kazakhstan’s Venture Funds Are Stepping onto the Global Stage
- Venture investment in Kazakhstan reached $71 million in 2024 with over 200 projects from Central Asia operating globally.
- Key venture funds like Big Sky Capital, Silkroad Angels Club, and FutureMED Ventures KZ are active in global markets.
- Selecting international jurisdictions strategically important for legal maturity and building trust with global LPs.
- Funds structure deals in places like Delaware for mature legal infrastructure.
- Global platform setup essential for attracting LPs from various countries and operating in a mature environment.
- Spain chosen for tax incentives, London for familiarity with regulatory landscape.
- Expanding internationally requires deep adaptation to local business norms.
- Funds focus on sectors like fintech, AI, e-commerce, and sustainable tech.
- Big Sky Capital closed 29 deals and preparing to launch another fund; Silkroad Angels Club backed 20 tech startups.
- Eurasian Hub Ventures invests in over 10 projects; EA Ventures finalizing first investments with global LP attraction plan.
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ISN
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Meta India Public Policy VP Shivnath Thukral resigns; says, 'I aim to focus on my health and family'
- Meta India's Public Policy Vice President Shivnath Thukral is resigning at the end of June, marking the second high-profile public policy departure in India's tech sector this year.
- Thukral joined the company in November 2017 and held various policy roles for nearly seven and a half years, leading WhatsApp's public policy function for four years.
- He took over as director of public policy for Meta India in November 2022 and was promoted to Vice President for public policy in March 2024.
- In his farewell note on LinkedIn, Thukral mentioned focusing on allowing the team to work independently after contributing to building systems and processes.
- Meta has recently expanded partnerships with state governments in India for WhatsApp-powered citizen services and piloting Llama, Meta's language model for government tasks.
- Thukral's tenure coincided with Meta's challenges in India, including the legal standoff over WhatsApp's data-sharing policy in 2021.
- He emphasized the importance of the policy engagement with stakeholders in his exit note and expressed confidence in the current constructive juncture.
- Thukral mentioned focusing on health, family, and personal interests post-resignation to explore new opportunities and learning experiences.
- Kevin Martin, Meta's global policy head, acknowledged Thukral's contributions in navigating policy and regulatory conversations in India and thanked him for his leadership.
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ISN
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BigBasket to introduce its 10-min food delivery service throughout India by March 2026
- BigBasket, owned by Tata Group, is set to launch 10-minute food delivery services across India by fiscal year 2026, venturing beyond groceries.
- The company's new service, piloted in Bengaluru, aims to expand to 40 dark stores by July, focusing on quick delivery of coffee, snacks, and meals in densely populated areas.
- Unlike competitors, BigBasket will offer a limited menu of Tata-affiliated brands, including Starbucks and Qmin, without external restaurant tie-ups.
- The company aims to combine food delivery with its existing online grocery experience, targeting new consumers and increasing snack orders with groceries.
- To support this expansion, BigBasket plans to increase its dark store count to 1,000-1,200 by the end of 2025, enhancing fulfillment and market presence in Tier 1 and Tier 2 cities.
- Quick-commerce platforms in India are rapidly growing, leading to increased competition and experimentation in instant grocery and food orders.
- BigBasket, part of Tata Group, emphasizes utilizing internal capital for growth amid speculation of external funding rounds and aims to go public within the next 18-24 months.
- The shift in quick-commerce from groceries to food delivery is influenced by urban consumer behavior and the availability of efficient fulfillment infrastructure.
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TheStartupMag
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AI startups continue to dominate investor charts, but we shouldn’t let this overshadow growth in industry verticals
- AI startups continue to dominate investor interest, with U.S. startups leading in funding.
- London-based AI firm Builder.ai's collapse raises concerns about oversight in high-tech startups.
- Softbank invests $40 billion in OpenAI, Databricks raises $10 billion, showcasing AI's prominence.
- Startup Kiwi raises $7.8 million for AI-powered financial tools targeting underbanked Latinos.
- Innovative Pet Lab partners with Independent Pet Supply Distributors, expanding pet health tests.
- Buddy.ai ensures child safety by becoming COPPA compliant for its AI-based educational platform.
- AI communication startup Prezent secures $20 million to improve its AI model for presentations.
- Ness Digital Engineering wins the 2025 BEST Award for its Intelligent Engineering approach.
- Quantivly aids healthcare providers in organizing data to treat more patients efficiently.
- Climate tech startups to be highlighted at Horasis Global Meeting in São Paulo, focusing on sustainability.
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Medium
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Pair Programming 3.0: The Death of the Design Committee
- A software developer explains how traditional product development practices, like design committees and extensive planning, hinder actual progress and innovation.
- Consultancies prioritize documentation and planning over building working software, resulting in delays and missed opportunities.
- The transition from consultancy to in-house development led to a focus on building what users truly needed and eliminating unnecessary features.
- Pair Programming 3.0 involves orchestrating AI and interactive prototypes to accelerate product development and minimize planning bureaucracy.
- The shift towards rapid iteration and real-time feedback helps in discovering and addressing issues quickly, leading to faster delivery.
- Impacts of Pair Programming 3.0 include faster decision-making, streamlined implementation, and building software with fewer dependencies.
- The approach prioritizes actual implementation over lengthy design processes, resulting in efficient and user-focused software development.
- The focus on in-house development, rapid iteration, and user-centric design principles enables more effective and timely product delivery.
- The author emphasizes the importance of orchestrating solutions and leveraging AI to enhance the software development process.
- Pair Programming 3.0 promotes strategic orchestration, leveraging AI capabilities, and using interactive prototypes to drive meaningful conversations.
- By embracing a streamlined development approach and minimizing unnecessary processes, teams can ship working software efficiently.
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The Pragmatic Engineer
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The Pulse #137: Builder.ai did not “fake AI with 700 engineers”
- The claim that Builder.ai faked AI with 700 engineers was incorrect, as clarified by former engineers at the company.
- Builder.ai built a code generator, Natasha, on top of Claude and other LLMs, rather than using human engineers.
- The startup invested time in building internal versions of existing tools like Slack, Zoom, and JIRA, contributing to its challenges.
- Stock vesting changes were observed at NVIDIA and Anthropic, with NVIDIA's grants becoming front-loaded.
- Builder.ai's Natasha Codegen utilized Python, Ruby on Rails, React, and LLMs like GPT and Claude for code generation.
- The team had a broader vision for Natasha, including a chatbot, knowledge graph, and ML models, all under the Natasha brand.
- Builder.ai faced setbacks with internal conflicts on its main product focus, fraud concerns, and allegations of accounting fraud.
- The downfall of Builder.ai was triggered by accounting fraud allegations, leading to lenders withdrawing funds and eventual collapse.
- Despite the collapse, the engineers at Builder.ai did solid work, but faced repercussions from the viral incorrect claim about faking AI with human devs.
- Industry Pulse: Industry trends include a push to repeal Section 174 accounting changes, Meta addressing AI issues, and potential job cuts at Google.
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Startup Pedia
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Kiran Mazumdar-Shaw lauds Bengaluru professor who turned coconut leaves into straws, started thriving business
- Kiran Mazumdar-Shaw praised a Bengaluru professor, Prof Saji Varghese, for transforming coconut leaves into eco-friendly straws.
- Prof Saji Varghese, an English professor at Christ University, discovered the potential of dry coconut leaves during a routine walk in 2017.
- Through experimentation, he developed multi-layered, antifungal straws that can last over 12 months and stay firm in water for more than six hours.
- Prof Varghese established production units in rural areas, creating job opportunities for rural women and exporting the straws to 25 countries.
- His brand, SunBird, gained popularity locally and internationally, with orders from the US, Australia, and European nations.
- He has received several awards for his innovative work, including the Swadeshi Startup Award 2018 and the Climate Launchpad Award 2018.
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TechCrunch
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Conveyor uses AI to automate the painful process of vendor security reviews and RFPs with AI
- Conveyor, a startup founded by Chas Ballew, uses AI to automate vendor security reviews and compliance processes, saving time for software vendors.
- The idea for Conveyor stemmed from the tedious and slow process of customer security approvals faced at Ballew's previous company, Aptible.
- Detailed questionnaires for security reviews often delayed sales, leading Ballew to create Conveyor to streamline the process.
- Conveyor leverages OpenAI's ChatGPT to power its AI-based product, allowing for faster completion of compliance forms.
- Customers of Conveyor, such as Zendesk, Atlassian, and Qualtrics, have embraced AI automation for security questionnaires.
- Conveyor's AI agent can autonomously complete over 90% of customer security questions accurately, saving time for customers.
- Building on its success, Conveyor is expanding into automating requests for proposals (RFPs), aiming to attract new customers outside the tech sector.
- The startup secured $20 million in Series B funding led by SignalFire, Oregon Venture Fund, and Cervin Ventures to support its expansion.
- Conveyor ensures data security by isolating each customer's information to maintain confidentiality and prevent data exposure.
- Other startups like Loopio, Responsive, and Rohirrim are also focusing on software solutions for RFPs and security questions.
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Economic Times
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Sports tech company Machaxi raises $1.5 million from Prakash Padukone, Rainmatter, others
- Sports tech startup Machaxi has raised $1.5 million in funding led by Rainmatter with participation from Prakash Padukone and others.
- Machaxi, founded in 2022, offers coaching services using digital infrastructure and AI-backed programs.
- The company plans to expand operations to Hyderabad, Pune, and Chennai and implement an AI-powered badminton coaching framework.
- Machaxi will collaborate with the Padukone School of Badminton to launch coaching centers across India in the next four years.
- An AI-based coaching system will be introduced to ensure consistency in training for athletes.
- Users can utilize the Machaxi app to receive posture and technique suggestions during training sessions.
- The goal is to provide aspiring athletes access to world-class infrastructure and training across locations.
- Nithin Kamath of Zerodha and Rainmatter praised Machaxi's tech-driven coaching approach.
- The global AI in sports market is projected to reach $2.61 billion by 2030.
- Machaxi aims to discover and nurture athletes' potential using their AI-powered model.
- The company's focus is on making training consistent, purposeful, and accessible to all athletes.
- The funding will help Machaxi scale its services and develop a nationwide network for coaching.
- Machaxi's partnership with the Padukone School of Badminton aims to set up over 1,000 coaching centers in India.
- The strategic expansion plans include setting up coaching centers in various cities beyond Bengaluru.
- The collaboration with Rainmatter and other investors will support Machaxi's growth and technology enhancements.
- Machaxi's use of AI technology aligns with the growing trend in the sports industry towards tech-driven solutions.
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Eu-Startups
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Paris-based Kolet raises €8.6 million to innovate global mobile connectivity across 190 countries
- Paris-based eSIM startup Kolet secured €8.6 million in Series A funding led by Daphni to enhance global mobile connectivity in over 190 countries.
- The funding includes participation from industry veterans like Peter Kern and Jon Gieselman, with an additional €1 million from Bpifrance.
- Kolet plans to expand its partner network, improve its product, and grow its team with this investment.
- The startup offers a digital eSIM that can be activated easily, without physical cards and hidden fees.
- Kolet's board now includes its three active Co-founders along with prominent figures from tech and travel industries.
- Kolet's B2B2C model targets travel industry players like Air France, KLM, and Kiwi.com, enhancing traveler experiences.
- The startup aims to address the overlooked connectivity needs of travelers by providing instant, universal connectivity.
- Key initiatives funded by the Series A include enhancing the mobile app, promoting eSIM adoption, and expanding the team.
- Kolet has already attracted 300,000 users and aims to reach 1 million users by the year's end.
- The startup is focused on simplifying travelers' lives through technology while emphasizing a seamless and human-centric experience.
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