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Inc42
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Govt To Procure Additional 14,000 GPUs: IT Minister
- Government to procure an additional 14,000 graphics processing units (GPUs) under the IndiaAI mission, in addition to the 18,000 GPUs already procured.
- Centre empanelled bidders like CMS Computers, Jio Platforms, Tata Communications, E2E Networks, and Yotta Data Services to offer GPUs for the common compute facility.
- IT Minister Vaishnaw aims to make the AI compute facility 'most affordable' globally, costing less than $1 per hour, with 40% of the cost being borne by the government.
- Government targeting the development of an indigenous large language model (LLM) trained on Indian data and social norms, with SarvamAI being one of the selected applicants for this under the IndiaAI mission.
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Inc42
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Ola Electric’s Q4 Snapshot, Razorpay’s Homecoming & More
- Ola Electric reported a significant increase in net losses in Q4 FY25, attributed to challenges in execution and growing competition affecting sales and market share.
- In Q4 FY25, Ola Electric's net losses doubled to INR 870 Cr, while operating revenue dropped by 62% to INR 611 Cr.
- For the full FY25, Ola Electric saw a 44% surge in net losses and a 10% decrease in revenue, selling 3.59 Lakh units.
- The company attributed Q4 challenges to slower EV penetration in India, competitive pressures, and operational difficulties.
- Ola Electric plans to achieve EBITDA profitability in its auto business by FY26 through strategic measures like vertical integration and scaling battery production.
- Razorpay has shifted its domicile to India, merging its Delaware parent entity with its Indian subsidiary in preparation for its IPO.
- Snitch, a D2C fashion brand, is raising INR 280 Cr with support from investors like 360 Asset Management Fund and IvyCap Ventures.
- Yatra reported a consolidated net profit increase of 172% in Q4 FY25, and operating revenue grew by 87% compared to the previous year.
- Stance Health, an Indian healthtech startup, aims to address musculoskeletal care gaps with AI-driven diagnostics and therapy, targeting India's growing healthtech market.
- Oxyzo, a fintech unicorn, experienced a significant profit jump of 16.71% in FY25 alongside a 33.66% increase in operating revenue.
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Economic Times
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Ola Electric shares plummet 10% after Q4 losses double to Rs 870 crore; revenue slips 62%
- Ola Electric Mobility shares tumbled 9.7% after reporting Q4 losses that doubled to Rs 870 crore and a 62% decline in revenue.
- The company's Auto EBITDA margin plunged to -78.6% and consolidated EBITDA margin stood at -101.4%, impacted by high provisioning costs and reduced operating leverage.
- Ola Electric aims to increase profitability through operational upgrades, shift to Gen-3 platform, and entry into electric motorcycles, targeting improved numbers in Q1 FY26.
- The company's total gross cash at the end of Q4 was around Rs 4,000 crore, with plans to explore non-dilutive debt of Rs 1,700 crore to meet obligations.
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TechCrunch
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Grammarly secures $1B in non-dilutive funding from General Catalyst
- Grammarly secures $1 billion in non-dilutive funding from General Catalyst for sales, marketing, and strategic acquisitions.
- Unlike traditional venture rounds, General Catalyst will not receive an equity stake but will be repaid along with a capped percentage of revenue generated.
- The funding comes from General Catalyst's Customer Value Fund focused on helping startups with predictable revenue streams grow.
- Grammarly valued at $13 billion in 2021, aims to expand its AI productivity tool following the recent acquisition of Coda.
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Economic Times
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Zerodha Capital's FY25 net profit rises 78%, focus on scaling up credit play
- Zerodha Capital, the NBFC arm of Zerodha, reported a net profit of Rs 12.5 crore and total revenue of Rs 36 crore in FY2025.
- Its revenue doubled from around Rs 17 crore in FY2024, and net profit grew by 78% from the previous year.
- Zerodha Capital offers credit products like loans against securities with a loan book of Rs 965 crore by September 2024.
- The company plans to launch term loans, is currently offering loans with an average ticket size of Rs 6 lakh, and aims to lend to clients beyond just Zerodha's customer base.
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Economic Times
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Gensol defaults on BluSmart-linked bond repayment for May
- Gensol Engineering, promoted by BluSmart founders, defaulted on around Rs 4 crore payment to pass-through certificates holders this month.
- Funds raised by issuing PTCs were backed by vehicles on BluSmart platform; repayments were tied to revenue from these vehicles.
- Due to BluSmart cab service cessation and uncertainty in deal talks, loan repayment has become uncertain, with Rs 4.04 crore outstanding.
- Investors attracted by high returns and brand value of BluSmart now face potential defaults, with over Rs 80 crore of NCDs due for repayment.
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Gritdaily
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Convoso’s Nima Hakimi Doubles Down on Compliance and Innovation With Strategic Leadership Push
- Convoso, under CEO Nima Hakimi's leadership, is accelerating with 40% annual revenue growth over the past five years.
- Convoso announced new leadership hires focused on compliance, customer growth, and scaling sustainably.
- The company's commitment to regulatory compliance and performance tech has fueled its expansion in the contact center industry.
- Convoso's strategic leadership push aims to prove that growth and compliance can go hand in hand in the industry.
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Siliconangle
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Meta and Anduril partner to develop wearables for the US military
- Meta Platforms Inc. and Anduril Industries Inc. are collaborating to develop wearable devices for the U.S. military.
- Anduril, a defense technology startup, received a $14 billion valuation in its recent funding round.
- The partnership aims to create a line of wearables called EagleEye, including helmets, glasses, and other devices with virtual reality and mixed reality features.
- The devices are designed to enhance hearing and vision, enable remote control of autonomous systems, and will incorporate advanced technologies like Meta's Llama algorithms and Anduril's Lattice OS and networking engine.
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Gritdaily
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Digital Fortress: How Ans Ishfaq Is Arming Creators With a Tactical Guide to Online Survival
- Ans Ishfaq, author and founder of Infringement Control, has written a book called Digital Fortress to guide online creators through the complexities of the digital world.
- Ishfaq, a digital protection specialist, draws from his experience in copyright, DMCA, and account security to empower creators who feel the system isn't designed to protect them.
- Inspired by creators losing their work and online presence, Ishfaq aims to educate and equip individuals with real strategies to safeguard their digital content.
- Digital Fortress serves as a tactical manual for creators and online entrepreneurs, offering insights to navigate legal challenges and protect their online presence.
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Insider
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See the 12-slide pitch deck AI marketing-tech startup Octave used to raise a $5.5 million seed round from Bonfire and a LinkedIn alumni fund
- Octave, a marketing tech startup, raised $5.5 million in seed funding to expand its AI-powered go-to-market platform.
- The startup aims to improve marketing and sales software using AI within an all-inclusive platform.
- Founded by Zach Vidibor and Julian Tempelsman, Octave was born out of frustration with existing inbound marketing and sales tools like HubSpot and Salesforce.
- The funding round was led by Bonfire Ventures with participation from Unusual Ventures, Bee Partners, inVest Ventures, and angel investors, allowing Octave to focus on ramping up hiring in its go-to-market team.
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Siliconangle
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Buildots raises $45M for its AI-powered construction management platform
- Buildots Inc., a construction software startup, raised $45 million in late-stage funding led by Qumra Capital for its AI-powered construction management platform.
- The funding round included participation from OG Venture Partners, TLV Partners, Poalim Equity, Future Energy Ventures, and Viola Growth, bringing Buildots’ total outside funding to $166 million.
- Buildots offers a cloud platform with an AI assistant called Dot that helps quality assurance professionals access building data, retrieve technical information, review construction activities, and identify errors or delays.
- The platform also includes tools for tracking project metrics, automating tasks like payments to subcontractors, and forecasting construction project performance based on historical data. Buildots has been adopted by about 50 construction companies, including Intel for its fab network expansion efforts.
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Inc42
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Flipkart Focussing On Market Share Over Profitability: Walmart Int’l CEO
- Walmart International CEO Kathryn McLay shared that Flipkart will prioritize market share and growth over profitability, aiming to achieve profitability at the right time.
- Walmart is working on multiple strategies to boost Flipkart's profitability, including enhancing core ecommerce, growing Myntra's business, and focusing on quick commerce and digital advertising.
- Flipkart has ventured into quick commerce with a 15-minute delivery promise and is rapidly expanding its capabilities, leveraging insights from Walmart's China operations.
- Flipkart's quick commerce service Minutes is aiming to increase dark store count to 800 by end of 2025, witnessing growth in tier II & III cities and doubling daily order volumes every 45 days.
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Medium
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Did Wanting to Change the World Die Out with the Hippies of the 1960s?
- Idealism has not died with the hippies of the 1960s, but has evolved and become more complex over the decades.
- The desire to change the world still exists, manifested in various forms such as activism, digital campaigns, and ethical movements.
- While the problems may seem larger and more technical, the spirit of wanting change remains strong among today's generation.
- The dream of changing the world has transformed into different expressions, from climate models to decentralized networks, reflecting a maturation of ideals.
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Gritdaily
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How Alternative Lending Empowers Today’s Entrepreneurs
- Traditional SBA loan process is becoming more complicated due to regulatory changes, affecting entrepreneurs relying on revenue-based financing or merchant cash advances.
- Alternative lending, powered by fintech, offers quicker access to capital, simplified processes, and transparency compared to traditional bank or SBA options.
- Fintech marketplace 1West, led by CEO Kunal Bhasin, syndicates loan applications across multiple lenders, providing speed and flexibility in funding within 24 hours.
- Amidst banks approving fewer small business loans, alternative lending is redefining capital flow with sophisticated algorithms, clear pricing, rapid responses, and a focus on transparency.
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TechCrunch
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Inside the AI revolution: Top insights and breakthroughs from our partners at TechCrunch Sessions: AI
- TechCrunch Sessions: AI focuses on the future of artificial intelligence and the startups driving innovation in the industry.
- Key sessions include discussions on AI-native startups, AI integration in Toyota repair services, MySQL HeatWave for building scalable generative AI applications, and democratizing AI through collaborative systems.
- Featured topics range from AI as a co-founder enhancing productivity to AI-driven conversational tools in Toyota's repair processes.
- Industry experts and tech leaders will share insights on embedding AI in enterprise operations, democratizing AI development, and building collaborative AI systems at the upcoming TechCrunch Sessions: AI event.
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