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Yourstory
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PhonePe expands hardware footprint with 7 lakh cores across 3 data centres in India
- PhonePe has expanded its hardware footprint by managing close to 7 lakh cores across three data centres in India.
- The expansion aims to enhance technological capabilities and support the growing user base.
- PhonePe has built a large-scale alternative cooling data centre using advanced technologies to increase energy efficiency and reduce carbon footprint.
- The company has invested in building in-house Software-as-a-Service (SaaS) platforms and has achieved significant cost savings through AI-driven automation.
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Inc42
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PhonePe Narrows Net Loss To INR 1,996 Cr In FY24
- PhonePe, a fintech major, has reduced its consolidated net loss by 28% to INR 1,996 Cr in FY24 compared to INR 2,795 Cr in the previous year.
- The operating revenue of PhonePe increased by 74% to INR 5,064 Cr in FY24.
- PhonePe attributed its improved performance to automation, cross-selling, and cost efficiency.
- The company reported an adjusted profit of INR 197 Cr in FY24, compared to a loss of INR 738 Cr in FY23.
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VIE Stories
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Business Structures Examples Sole proprietorship, Corporation, Partnership, and LLC
- Business structure is essential for starting a new business to determine profit-sharing and personal liabilities.
- The structure decision can impact day-to-day operations, personal liability, taxation, paperwork, and other aspects.
- Common business structures include sole proprietorship, partnership, corporation, and Limited Liability Company (LLC).
- Sole proprietorship offers complete control, easy setup, simple tax reporting, and privacy, and is best for low-risk businesses.
- Partnership allows shared finances, combined knowledge, and flexible management, but personal tax returns also reflect the business's profits.
- Corporation requires more regulations, record-keeping, and tax requirements, but offers liability protection, simple ownership transfers, and cash accounting.
- S corporations pay one level of federal tax and shareholders are not taxed at the corporate tax rates, and offer simple ownership transfers, cash accounting, and liability protection.
- LLC combines features of both partnership and corporation, ideal for medium- or high-risk businesses, and offers limited liability, pass-through taxation and added shareholder participation, and flexible distribution of profits.
- Choosing the best structure requires considering aspects like the number of owners, liability protection, taxes, regulations, and growth potential.
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VIE Stories
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5 Signs That Tell You’ve Chosen the Right Lawyer for Your Dallas Car Accident Case
- Choosing the right lawyer for your car accident case in Dallas is crucial for receiving proper compensation.
- Look for a lawyer who specializes in car accident cases and understands the local laws and regulations.
- Ensure the lawyer has a proven track record of success and positive testimonials from past clients.
- Transparent and open communication, as well as strong negotiation and courtroom skills, are important qualities to consider.
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Eu-Startups
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Paris-based Candix secures €185k to help startups steal engineers from big tech
- Paris-based Candix has raised €185k to help startups attract engineers from big tech companies.
- Candix offers a confidential platform for engineers to express their interest in new opportunities.
- The platform focuses on ensuring data privacy and confidentiality for both talent and companies.
- Candix aims to disrupt the traditional hiring marketplace model by automating the curation process.
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Yourstory
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190
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Govt to extend UDAN scheme for 10 more years: K Rammohan Naidu
- The government will extend the regional air connectivity scheme UDAN for 10 more years.
- UDAN has led to the birth and growth of regional airlines, generation of jobs, and contribution to tourism.
- As many as 601 routes and 71 airports have been operationalised under the regional air connectivity scheme.
- The number of operational airports in the country has doubled from 74 in 2014 to 157 in 2024.
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Yourstory
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Startup news and updates: Daily roundup (October 21, 2024)
- Bengaluru-based startup Uravu has secured funding in a round led by AWE Funds
- Gemba Capital has appointed Somak Ghosh to its advisory board
- Collective Artists Network and Pinterest have created 1 lakh shoppable content pieces for Myntra
- Urban Space has expanded into quick commerce by launching on platforms like Blinkit and Zepto
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TechRound
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Startup Of The Week: Careem
- Careem is a 'super app' in the Middle East, North Africa, and Pakistan (MENAP) that provides various services like ride-hailing, food and supermarket delivery, and lifestyle bookings.
- Founded in 2012 and acquired by Uber in 2019 for $3.1 billion, Careem is the biggest unicorn in the Middle East.
- With operations in 70 cities across 10 countries, Careem serves over 50 million customers and provides earning opportunities for over 2.5 million gig economy workers.
- The app offers a range of services including rides, food delivery, convenience services, and payment solutions.
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TechCrunch
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DataCrunch wants to be Europe’s first AI cloud hyperscaler — powered by renewable energy
- Finnish startup DataCrunch sells GPUs “as-a-service, as it sets out to become one of Europe’s first “AI compute” hyperscalers.
- DataCrunch today said it has raised $13m in seed funding, exceptionally having raised a significant portion ($5.4m) in debt from Nordea and LokalTapiola.
- DataCrunch will mostly remain anchored in the Nordics and Iceland, as it takes advantage of its data centers located at two green energy sites, Helsinki and Iceland.
- The combination of GPUs, AI hardware and cloud infrastructure has created new industries such as cloud infrastructure providers, which benefit from Nvidia, with companies like Lambda and CoreWeave recently hitting billion-dollar valuations.
- Individual AI researchers are among DataCrunch's target customers, offering an attractive and flexible pricing model for university projects.
- Reducing the carbon footprint of AI processing is also a significant focus for DataCrunch, as it seeks to differentiate with green energy data centers.
- DataCrunch's AI processing offering is better suited for a particular kind of workload that seeks compute without the strictest of latency requirements.
- DataCrunch plans to start building out its own data centers in 2025 and move towards being a public company.
- DataCrunch is blurring the line between hardware and software, SEC filing reveals
- Artificial intelligence cloud platform start-up DataCrunch has raised $13m in seed funding...
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VIE Stories
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Essential Tips for Choosing the Right Bike Insurance and Motor Insurance Policies
- Choosing the right bike insurance or motor insurance is crucial for vehicle owners.
- Understand the different types of insurance policies available, such as third party insurance, own damage insurance, and comprehensive insurance.
- Evaluate your add-on needs and consider the cost implications of these additional features.
- Research and gather information online to make an informed decision, rather than solely relying on agents.
- Pay attention to the claims process, ensuring it is convenient and hassle-free, preferably with virtual filing options.
- Read the fine print to understand elements like IDV, NCB, deductibles, and coverage details.
- Check for cashless insurance options and network garages for convenient repairs, especially for frequent travelers.
- Consider purchasing your policy online for advantages like quick renewals and better pricing options.
- Choosing the right policy can provide long-term benefits and financial security for vehicle owners.
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Yourstory
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421
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7 boundaries that successful people set to avoid burnout
- Successful people have learned that setting clear boundaries is crucial to achieve sustainable success.
- They understand that saying "no" is sometimes the most powerful form of self-care and progress.
- In this article, we will explore the seven key boundaries successful people set and how these boundaries empower them to reach their goals without burning out.
- Successful individuals know that in order to make the most out of their day, they need to set clear boundaries around their time.
- They make it a priority to switch off from work at a certain point in the day, focusing on family, friends, and self-care.
- By maintaining emotional boundaries, they prevent themselves from getting caught up in negativity, allowing them to stay focused on their goals.
- Successful people recognise that aiming for perfection in every task can be counterproductive.
- They avoid people who drain their energy or distract them from their goals, instead surrounding themselves with those who inspire, challenge, and support them.
- Successful people are aware of this and set strict digital boundaries to maintain focus.
- The most successful people aren’t those who work the hardest without rest—they’re the ones who set clear boundaries to protect their time, energy, and focus.
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Inc42
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403
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Advance Mobility Bags $3 Mn From India Accelerator, Finvolve
- Advance Mobility has raised $3 Mn in funding from investors including India Accelerator and Finvolve.
- The fleet startup, focused on sustainable mobility solutions, aims to scale up operations and expand its footprint.
- The company previously raised $2 Mn in a funding round from the same investors in February 2023.
- The Indian mobility space is experiencing a transformation towards sustainable solutions, with a focus on electric vehicles (EVs).
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Inc42
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376
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Groww’s FY24 Revenue More Than Doubles To INR 3,145 Cr
- Bengaluru based fintech company Groww Invest Tech reports 119% growth in revenue from INR 1,435 Cr in FY23 to INR 3,145 Cr in FY24.
- Groww maintains operational profitability of INR 535 crore for FY24 compared to INR 458 crore in the previous fiscal year.
- Groww paid INR 1,340 Cr as one-time tax on shifting its base back to India.
- Groww reports a net loss of INR 805 Cr, after taxes for FY24.
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VIE Stories
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Capillary Technologies Promotes Siddhant Jain to Chief Customer Officer, Asia
- Capillary Technologies has promoted Siddhant Jain to Chief Customer Officer, Asia.
- Siddhant Jain has contributed more than 13 years of devoted service, driving transformation and spur growth.
- Siddhant Jain expressed gratitude for the opportunity to lead the Asia region and build on the strong foundation established.
- Aneesh Reddy, Founder & CEO of Capillary Technologies, highlighted Siddhant's instrumental role in expanding the company's footprint in Asia and supporting key growth initiatives in the US and EU.
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SiliconCanals
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341
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Finnish startup Cambri bags €8M to help major brands predict product launch success through AI
- Finnish startup Cambri has raised €8M in a recent funding round to further develop its AI consumer insights and innovation platform.
- The funds will be used to scale the AI-powered platform, which helps major brands predict the success of product launches.
- Cambri's proprietary AI engine provides accurate predictions and actionable insights, leading to over 80% prediction accuracy for product launches.
- Major brands like Carlsberg, Coca-Cola, and Nestle are already utilizing Cambri's AI engine to enhance their product innovation.
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