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Startup News
ISN
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UPI services restored after widespread outage; NPCI says, 'faced intermittent technical issues'
- The Unified Payments Corporation of India (UPI) services were restored after a widespread outage.
- The National Payments Corporation of India (NPCI) faced intermittent technical issues, causing partial declines and delays.
- The disruption affected major digital payment platforms like PhonePe, Paytm, and Google Pay.
- Many users reported being unable to transfer funds or process payments during the outage.
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TechCrunch
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Fintech Mercury lands $300M in Sequoia-led Series C, doubles valuation to $3.5B
- Fintech startup Mercury has raised $300 million in Series C funding, led by Sequoia.
- The funding round has doubled the company's valuation to $3.5 billion.
- Mercury has reported $500 million in revenue in 2024 and 10 consecutive quarters of profitability.
- The company plans to launch a consumer banking product and expand its employee headcount.
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TechCrunch
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Bradley Tusk says VC is dead. But the ‘fixer’ in him is just getting started
- Bradley Tusk claims venture capital has been "effectively dead" for the past four years.
- Tusk decided not to raise a fourth fund and launched an equity-for-services firm instead.
- He shares insights into the limitations of the current VC model and its lack of liquidity.
- Tusk is focused on scaling mobile voting to increase voter turnout through secure, open-source technology.
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The Pragmatic Engineer
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Building Figma Slides with Noah Finer and Jonathan Kaufman
- Jonathan Kaufman and Noah Finer discuss the journey of building Figma Slides, from a hackathon project to a full-fledged product with over 4.5M slide decks created.
- They share insights on the tech stack, challenges faced, and engineering practices at Figma.
- Figma's unique engineering practices include using C++ for frontend development and engaging in EngCrits for feedback.
- The complexity of seemingly simple UI elements like the Single Slide View showcases the intricacies of Figma's development.
- The team rewrote parts of the C++ codebase to TypeScript and implemented feature flags for testing and deployment.
- Figma's testing approach involves running unit and interaction tests with feature flags on and off to prevent regressions.
- Engineering challenges included implementing multiplayer cursor functionality and ensuring interoperability between Figma products.
- The team utilized tools like DWARF debugging and internal tools for bug identification and resolution.
- Beta testing, zero bug policy, and staging environments were key components of Figma's development and release process.
- The conversation delved into details about Figma's engineering culture, tech stack, and design-first software engineering approach.
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TechCrunch
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Nuclear startup Terrestrial Energy goes public via SPAC, netting $280 million in merger
- Canadian nuclear startup Terrestrial Energy has merged with an acquisition company, raising $280 million in the deal.
- Terrestrial Energy is developing small modular reactors and plans to list on Nasdaq under the symbol ISMR.
- The startup's integral molten salt reactor design aims to address issues seen in earlier molten salt reactors.
- With increased demand for electricity and interest from tech companies, advanced nuclear reactors are gaining attention.
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ISN
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Germany-based chipmaker Infineon Technologies to open a new GCC in Ahmedabad, Gujarat
- Germany-based semiconductor maker Infineon Technologies will open a new global capability centre (GCC) in Ahmedabad, Gujarat.
- The centre will focus on advanced chip design, product software, IT, and R&D initiatives.
- Infineon plans to employ about 400 engineers at the site, aiming to achieve €1 billion in annual revenues from India operations by 2030.
- The centre's launch is supported by Gujarat's GCC policy, which aims to attract investments and create jobs in the semiconductor industry.
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Dev
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Stop Blaming Your Marketing Tools. Your Campaign Failed Because You Didn’t Have Enough Data.
- Most outbound campaigns fail due to lack of volume
- Starting with too little data is the #1 mistake in campaigns
- The key to campaign success is having a large enough database
- Outbound marketing success relies on funnel math and realistic conversion assumptions
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Eu-Startups
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web2wave raises €330k to help app developers bypass app store fees and regain control
- Barcelona-based web2wave has raised €330k in Seed funding to scale its infrastructure and product offering.
- The platform provides a browser-based alternative to Apple’s App Store and Google Play, allowing developers to bypass app store fees and retain control of their audience.
- web2wave aims to help developers unlock new monetization channels, reduce churn, and have full ownership of the growth funnel.
- With the new funding, web2wave plans to expand its teams, enhance personalization capabilities, and support indie app creators.
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ISN
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BharatPe’s losses decline in April-Dec 2024 period, achieves EBITDA breakeven
- BharatPe's net losses in Apr-Dec 2024 period decreased to around Rs 148.8 crore from nearly Rs 492 crore in the previous fiscal.
- BharatPe achieved break-even at the EBITDA level during Apr-Dec 2024, adjusted for employee stock option costs.
- The company aims to deepen its lending business and targets an initial public offering in the next two years.
- BharatPe's improved financials were attributed to stronger growth in merchant payment processing fees and service fees for facilitating loans.
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Eu-Startups
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EIT Jumpstarter 2025: Final chance to join Europe’s top pre-accelerator for EU entrepreneurs! (Sponsored)
- The European Institute of Innovation & Technology (EIT) is calling for applications for the 2025 edition of EIT Jumpstarter, a pre-accelerator programme.
- This year, EIT Jumpstarter focuses on innovators from the Western Balkans, the EU’s Outermost Regions, and the Mediterranean, offering funding and exclusive resources.
- The programme has a track record of success, with participating startups collectively raising €150 million in external investment.
- Applicants have until 2 April to apply and connect with Europe’s leading innovation network.
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Economic Times
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Zypp Electric lays off 10% of workforce amid profitability push
- Gurugram-based electric vehicle (EV) fleet management firm Zypp Electric has reduced its workforce by around 10% over the past two months.
- The company conducted an appraisal exercise to drive efficiency and rationalize non-performers, aiming for sustainable and profitable growth.
- Zypp Electric plans to achieve profitability in the next two to three quarters and is eyeing a potential public listing within the next 24 months.
- The company currently operates a fleet of about 20,000 vehicles and aims to expand into new cities in the next quarter.
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TechCrunch
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Amazon’s Alexa Fund is now backing AI startups
- Amazon's Alexa Fund, originally focused on voice technology, is now expanding its scope to invest more in AI startups.
- The fund aims to invest in areas including AI-enabled hardware and smart agents.
- Recent investments by the Alexa Fund include startups NinjaTech AI, Hedra, Ario, and HeyBoss.
- These investments allow Amazon to utilize its cloud and AI stack, while providing startups access to its APIs and SDKs.
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Nvidia
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Buzz Solutions Uses Vision AI to Supercharge the Electric Grid
- Buzz Solutions, a member of the NVIDIA Inception program, is using AI to improve how utilities monitor and maintain their infrastructure.
- The company's proprietary machine learning algorithms analyze inspection data collected by drones and helicopters to identify potential issues before they cause outages or wildfires.
- Buzz Solutions built PowerGUARD, an AI-powered application that detects security, safety, fire, smoke, and equipment issues in real time.
- By leveraging AI, Buzz Solutions enables utility workers to take action faster and provide real value to the energy sector.
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Eu-Startups
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Meet the experts joining our “Corporate Venturing in Europe: From Pilots to Scalable Partnerships” panel at the EU-Startups Summit 2025!
- The EU-Startups Summit 2025 is set to take place in Malta on April 24-25, featuring networking, talks, and discussions with innovative founders and investors.
- The event will focus on the importance of collaboration between corporates and startups for driving innovation in Europe.
- A panel titled 'Corporate Venturing in Europe: From Pilots to Scalable Partnerships' will feature experts like Gabriela Matic from Aerospace Xelerated.
- Gabriela is known for her work in supporting startups and her interest in sustainability and health tech.
- Manuel Mendigutía from the European Innovation Council will also be on the panel, focusing on strategic partnerships for European startups.
- Victoria Hernandez Valcarcel from CaixaBank will provide insights on driving alignment between corporates and tech ventures.
- The panel aims to help founders navigate corporate partnerships, innovation leads build open innovation frameworks, and investors understand the startup-industry dynamic.
- Malta Enterprise, a headline sponsor, supports economic growth and innovation in Malta by attracting investments and supporting businesses.
- Other sponsors include Scytale, Airwallex, EUROCROWD, and M. Demajo Group, each playing a role in fostering entrepreneurship and innovation.
- The European Innovation Council, a key initiative of the European Commission, supports groundbreaking commercial propositions and deep tech innovation in Europe.
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Pymnts
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Investment Banks Reportedly Weigh Job Cuts as Dealmaking Stagnates
- Wall Street banks are considering job cuts as dealmaking slows down amid economic uncertainty.
- Tariff threats by President Donald Trump have affected the stock market and increased the risk of an economic slowdown.
- Expectations for increased mergers and acquisitions (M&A) and initial public offerings (IPOs) have been dampened.
- Bigger banks are more likely to cut staff first, with smaller banks potentially following suit if the deal pipeline fails to materialize.
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