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Inc42
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Sustainability-Focussed Caret Capital Marks First Close Of INR 400 Cr Fund
- Sustainability-focussed Caret Capital has marked the first close of its second venture capital fund at INR 160 Cr with a target corpus of INR 400 Cr.
- The VC firm has raised capital from Bajaj Auto, Transport Corporation of India (TCI), and a US-based non-profit private foundation.
- Caret Capital aims to invest in 25 startups with an average ticket size of INR 12-15 Cr and has lined up four investments from the second fund, including electric two-wheeler platform, battery lifecycle management company, livestock feed distribution startup, and AI-powered SaaS platform.
- The fund, managed by Bansal, Raut, and Mittal, is targeting its final close by the end of this year, showing a positive response from investors.
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TechCrunch
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Just 2 days until TechCrunch Sessions: AI at UC Berkeley — where the future of AI takes shape
- TechCrunch Sessions: AI will be held at UC Berkeley's Zellerbach Hall in 2 days, offering insights into the forefront of AI development and its applications.
- The summit features top industry leaders, researchers, and founders discussing frontier models, safety protocols, multimodal AI, investor perspectives, and more.
- Attendees can save $300 on tickets and get a second pass for 50% off before the event doors open. The event includes main stage sessions, hands-on breakouts, intentional networking, startup pitch-offs, and after-hours side events.
- Register now to join the conversations shaping the future of artificial intelligence at TC Sessions: AI and secure discounted ticket prices before June 5.
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Inc42
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Amazon India Rolls Out INR 5 Marketplace Fee For All Users
- Amazon India has introduced a marketplace fee of INR 5 on each order to support its diverse sellers and reliable delivery services.
- This fee, inclusive of taxes, applies to all users, including Amazon Prime members, except for certain order types like gift cards, Amazon Business orders, and digital purchases.
- Competitor Flipkart implemented platform fees last year, charging INR 3 on its ecommerce platform and INR 5 on Flipkart Minutes.
- Ecommerce and quick commerce platforms like Zomato and Swiggy have also increased fees, leading to concerns about inflated order prices and accusations of unfair pricing practices.
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Eu-Startups
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Watch this – French startup Moments Lab raises €21 million to scale video discovery with Agentic AI
- Paris-based Moments Lab raises €21 million in funding to accelerate US expansion and R&D work on MXT-2 multimodal AI.
- Existing investors Supernova Invest and Elaia Partners, along with new investors Oxx, Orange Ventures, and Kadmos participated in the funding round.
- Moments Lab, co-founded by twin brothers in 2016, aims to simplify media teams' work with audiovisual content using MXT platform for video parsing and creation.
- The MXT Multimodal AI by Moments Lab is designed to make audiovisual content searchable, enabling organizations to find, repurpose, and monetize content efficiently.
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Inc42
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Exclusive: True Diamond Bags $3 Mn From India Quotient, Others
- Mumbai-based lab grown diamond startup True Diamond has raised $3 Mn (INR 26 Cr) in a fresh funding round led by India Quotient.
- Other investors in this round include Titan Capital and Huddle Ventures.
- The startup's valuation post funding is now INR 108 Cr ($12.6 Mn).
- True Diamond plans to utilize the funding to scale up its omnichannel presence and expand offline retail operations.
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ISN
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'Safar bhale hi akela ho, raasta apna hona chaiye...': Vedanta Chairman Anil Agarwal's message to young founders
- Anil Agarwal, Chairman of Vedanta Resources, shared a message to young entrepreneurs, highlighting the loneliness and emotional challenges of the founder's journey.
- He compared the early stages of entrepreneurship to a pressure cooker, emphasizing the importance of decisions in shaping one's dream.
- Agarwal expressed the idea of isolation in the entrepreneurial climb, noting that as one progresses, there are fewer people around for support and understanding.
- He shared a personal anecdote of finding comfort in his mother's shawl during lonely nights in London, encouraging founders to persevere and hold on to reminders of home.
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The Robot Report
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Cybernetix Ventures raising $100M fund for robotics and physical AI
- Cybernetix Ventures has announced a new $100 million fund to invest in robotics and automation startups with artificial intelligence applications across various industries.
- The fund has already made 23 investments in early-stage companies developing systems for manufacturing, logistics, construction, agriculture, climate, and healthcare.
- Cybernetix Ventures co-founders, Mark Martin and Fady Saad, with 50 years of combined experience in robotics, are actively building an investment portfolio of leading robotics and physical AI startups.
- The global market for AI-enabled robotics is projected to grow significantly by 2030, and Cybernetix Ventures aims to expand its focus to agriculture and climate with the new fund.
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Medium
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The real cost of SaaS sprawl: Why too many tools are slowing teams down
- The article discusses the negative impacts of SaaS sprawl, where companies have an overwhelming number of software tools causing inefficiencies.
- On average, companies were found to be using 371 SaaS applications at their peak, highlighting the tech stack's unmanageability.
- The financial waste due to unused SaaS seats is significant, with companies spending tens of thousands of dollars on tools that provide no value.
- Many companies are actively consolidating their tool stack to combat SaaS sprawl and reduce cognitive overhead for their teams.
- Fragmentation leads to frustration, with employees spending a substantial amount of time coordinating work and dealing with communication overload.
- Security risks increase as the number of tools used grows, making it harder to manage user access and offboarding processes.
- Teams often add new tools without considering existing ones, resulting in duplicated work, disconnected workflows, and a cluttered work environment.
- Consolidation is seen as a strategic move to increase efficiency by using fewer, integrated tools that streamline workflows and reduce management time.
- The shift is towards having a unified workspace that integrates various functions to enhance productivity and clarity for teams.
- KaiMesh aims to provide a solution by offering a connected system that improves workflow efficiency and reduces the challenges associated with SaaS sprawl.
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Inc42
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Aakash Moves NCLT Against EY For Meddling In BYJU’s Case
- Aakash Educational Services has moved the National Company Law Tribunal (NCLT) against EY India for alleged conflict of interest and breach of professional conduct.
- The dispute between Aakash and BYJU’S emerged from a lawsuit filed by BYJU’S parent company Think & Learn Pvt Ltd, leading to a status quo of shareholding.
- Aakash accused EY of aiding BYJU’S in financial forecasting, liquidity management, and decision-making processes, calling for the dismissal of BYJU’S petition or to make EY LLP and its partner respondents in the case.
- BYJU’S Interim Resolution Professional (IRP) had raised queries about Aakash's board representation, which Aakash pointed out as conflicts of interest within EY.
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Medium
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Archil Cheishvili: The Man Who Sold the AI Dream
- Archil Cheishvili presented himself as a Harvard-educated disrupter of Silicon Valley with a successful crowdfunding campaign raising over $5 million, but in reality, his company GenesisAI was a facade with no working platform or revenue.
- Despite claims of innovation and revolutionary AI products, GenesisAI had no real clients or revenue for years, solely relying on crowdfunding to sustain Archil's self-enrichment rather than building a sustainable business.
- Archil manipulated the narrative around GenesisAI through spam-style campaigns, hyped-up claims, and controlling online discussions, leading to thousands of investors being left with worthless shares as the company failed to deliver any products or progress.
- Ultimately, Archil resigned and passed the dying company to his father, leaving behind a trail of deception and unanswered questions for investors, highlighting the real-world repercussions of such deceptive practices in the tech industry.
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Inc42
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Madras HC Upholds Tamil Nadu’s Online Gaming Regulations
- The Madras High Court upheld Tamil Nadu government's regulations on the real money gaming (RMG) sector, impacting companies like Play Games 24x7, Junglee Games, and WinZO.
- The court ruled that the state has the authority to legislate on public health matters, including regulating online games of skill played for money.
- Tamil Nadu's rules banning online real money games between midnight and 5 AM were deemed valid due to concerns over addiction, mental health, and suicides linked to gaming losses.
- The regulations include bans on gameplay during specific hours, mandatory warnings, prohibitions on minors, display of spending limits, KYC verification, and warnings about the addictive nature of online gaming.
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Medium
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73
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How Startups Can Use Press Releases to Gain Exposure
- Press releases are still a legitimate way for startups to gain exposure, especially with guidance from a PR agency.
- Having a well-crafted press release can land startups in local papers, industry blogs, and major outlets like Rolling Stone Magazine.
- Key to a successful press release is being sharp, specific, and tied to something tangible that captures journalists' attention.
- Startups can leverage press releases to level the marketing playing field without requiring a massive budget.
- A structured approach with a clear and specific headline, concise opening paragraph, and compelling body content is crucial for press release success.
- Choosing the right timing and making your release relevant to current events can significantly impact its reception by journalists.
- Personalizing outreach and targeting the right journalists who cover relevant topics is essential for press release effectiveness.
- Utilizing digital PR services like 9FigureMedia can help amplify the reach of press releases and ensure they reach the right audience.
- Following up and engaging with journalists beyond the initial release is important for building lasting relationships and gaining continuous exposure.
- Monitoring the impact of press releases through website traffic, social media mentions, and new leads is crucial to understanding their effectiveness.
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Inc42
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Morgan Stanley Raises Q-Comm Market Forecast To $57 Bn, Bets On Eternal
- Morgan Stanley revised the Indian quick commerce market forecast to reach $57 Bn by 2030, up from the previous estimate of $42 Bn, attributing it to factors like deepening online grocery penetration and growing consumer reliance.
- The average spend per customer on quick commerce platforms like Eternal and Swiggy is estimated to be $300 and $250 per year respectively, with household spending expected to reach $1,630 by 2030.
- Quick commerce is projected to represent 3.7% of the Indian retail market and 33% of the ecommerce market by 2030, with grocery segment penetration expected to increase to 76% by 2030.
- Morgan Stanley is bullish on Eternal's Blinkit and reaffirmed Eternal as its top pick over Swiggy, citing market leadership, superior cost structure, healthier unit economics, and potential stock price floor, with a raised price target for Swiggy's stock by 22%.
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ISN
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India's TCS partners with Richard Branson's Virgin Atlantic to modernise the airline's core systems
- India's Tata Consultancy Services (TCS) extends partnership with Virgin Atlantic for seven years to accelerate the UK airline’s digital transformation.
- TCS will introduce a cloud-first, AI-powered architecture to overhaul Virgin Atlantic’s technology backbone, enabling operational resilience and enhanced customer experiences.
- The collaboration aims to develop a Technology Command Centre for real-time operational insights, hyper-personalized travel experiences, and streamlined backend operations.
- TCS will deploy proprietary solutions like TCS Cognix and AI WisdomNext to modernize Virgin Atlantic’s systems and improve service delivery through increased automation in critical airline processes.
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Medium
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Dark-Store Unlocked: A UX Case Study in Driving Sales Through Smart Operations
- Dark store operations are designed for speed, cost-efficiency, and effective daily management to boost sales.
- The focus is on improving team performance, providing clear data insights, and streamlining inventory management through automation.
- Research into the day-to-day realities of dark store operations revealed insights for improving processes and enhancing efficiency.
- A dashboard interface was developed to provide a centralized view of tasks, orders, inventory, and sales data for quick and informed decision-making.
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