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Fintechnews
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GoTo, Tencent, Alibaba Invests in Indonesia’s Cloud Infrastructure and Digital Skills
- Indonesia's GoTo Group partners with Tencent Cloud and Alibaba Cloud to accelerate the country's digital transformation.
- Tencent Cloud will invest $500 million to establish its third Internet Data Center (IDC) in Indonesia by 2030.
- Alibaba Cloud plans to train 800,000 individuals in cloud computing and AI by 2033.
- The partnerships aim to enhance GoTo's digital infrastructure and promote digital inclusivity for micro, small, and medium enterprises (MSMEs).
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VIE Stories
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ID Verification Startup Equal Raises $10 Mn in Funding
- ID verification startup Equal has raised $10 million in funding.
- The funding round was led by Prosus Ventures, Tomales Bay Capital, and Equal's founder, Keshav Reddy.
- Equal plans to use the capital to expand operations, form collaborations, and improve India's information-sharing ecosystem.
- Other participants in the funding round included Blume Ventures, DST Global, and various prominent individuals from the industry.
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Startupreporter
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Helmet Distribution Campaign for Delivery Partners by Vega X AOB X Possibilitea
- Aromas of Biryani and Vega Helmets, in collaboration with PossibiliTea Media and Marketing, distributed helmets to food delivery partners.
- The initiative aimed to ensure the well-being of these essential workers as they continue to deliver food in various conditions.
- The campaign symbolized appreciation for the dedication and selflessness of the delivery partners.
- The collaboration between Vega Helmets, Aromas of Biryani, and PossibiliTea Media and Marketing aimed to promote safety and support the tireless efforts of delivery partners.
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Inc42
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Identity Verification Startup Equal Raises $10 Mn
- Identity verification platform Equal has raised $10 Mn in its Series A funding round.
- The funding round was co-led by Prosus Ventures, Tomales Bay Capital, and founder Keshav Reddy.
- Equal plans to use the capital to scale operations, form strategic partnerships, and develop an integrated digital framework.
- The startup helps businesses streamline KYC through integration with ID databases and API providers.
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StartupDaily
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There’s another simple reason as a parent why you wouldn’t buy an EV
- Rebates for electric car sales disappeared in every state and territory except Western Australia in the last quarter, but counterintuitively, the smallest drop in BEV sales for this quarter was in WA.
- Today the Australian Automobile Association released its quarterly Electric Vehicle Index revealing EVs sales dropped 25% in the September quarter, down from 8.1% of total sales to in the quarter ending FY24 to 6.5%, the lowest level since 2022.
- Hybrid sales rose by 3.33% (from 46,727 to 48,282), and hybrid market share rose from 14.93% to 16.7%, while plug-in hybrid car sales jumped by 56.6% from a lower base, with their market share up from 1.49% to 2.53% on the June quarter.
- Had we bought the Volvo XC30, our son, based in Canberra, could have driven it, but couldn’t leave the ACT. Cross the border into NSW in the car and he faced a $603 fine and the loss of 7 demerit points, aka his licence.
- The rules around what EVs you can legally drive on your P plates are a mess, depending on what state or territory you live in.
- In the Northern Territory, Tasmania, Western Australia and ACT there are no vehicle restrictions for provisional drivers.
- The issue is the power-to-weight ratios – because EVs can accelerate quickly, they’re view like driving a Lamborghini or Ferrari.
- The result is you can get all of the Chinese BYD cars, most MG EVs, and Hyundai Kia or Kona EVs, or a single-motor Polestar 2, but the Polestar 3 sits at 139.3kW/t, so that’s not an SUV for kids.
- Teslas are out of the question, regardless of how you feel about Elon Musk, and even the SKODA Enyaq RS is banned, along with those dinky Smart EVs, but a $120,000, 3-tonne Kia EV9, which can still get you to 100km/h in 8.2 seconds with a single motor is ok, just the dual motor is bad.
- Which is probably why parents are giving up and buying a hybrid instead.
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VIE Stories
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UnifyApps Secures $20 Mn Funding Led by Iconiq Growth
- Unified integration platform UnifyApps has raised $20 million in a funding round led by Iconiq Growth.
- Existing investors, including Elevation Capital, also participated in the round.
- The funding will be used to enhance UnifyApps' integrated corporate AI agent platform for improved collaboration across SaaS applications.
- UnifyApps enables businesses to develop custom applications faster, automate workflows, and synchronize data in real-time between apps.
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Yourstory
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Markets decline in early trade amid unabated foreign fund outflows, muted earnings
- Benchmark indices Sensex and Nifty decline in early trade due to foreign fund outflows and weak earnings.
- Asian Paints reports a significant decline in net profit.
- Axis Bank, Adani Ports, Nestle, Reliance Industries, Tata Steel, and IndusInd Bank among the laggards.
- Foreign Institutional Investors offload equities worth Rs 3,404.04 crore on Friday.
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VIE Stories
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Dil Foods Shark in Tank India - Dil Foods Founder, Valuations, Funding and Net worth
- Shark Tank India featured Dil Foods, founded by Arpita Aditi from Ranchi, who created a virtual restaurant brand inspired by regional Indian flavors.
- Dil Foods partners with small and large restaurants to offer standardized, hygienic, and culturally inspired dishes. Seeking Rs. 50 lakhs for 0.5% equity at a Rs. 100 crore valuation, Arpita pitched her sustainable ecosystem vision.
- Sharks Vineeta Singh, Peyush Bansal, Radhika Gupta, and Ritesh Agarwal jointly offered Rs. 2 crore for 2.67% equity, valuing Dil Foods at Rs. 75 crore. The deal closed with four sharks offering investment and mentorship to support Dil Foods' expansion.
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Inc42
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CCI Probe: Swiggy, Zomato Say Haven’t Received Any Further Updates
- Zomato and Swiggy have denied receiving any further updates regarding the ongoing probe by the Competition Commission of India (CCI) on possible violations of competition laws.
- The CCI investigation, initiated in April 2022, is still ongoing, and there have been no new developments shared by the antitrust body.
- Earlier reports stated that the CCI probe found Zomato and Swiggy guilty of favoring certain restaurant partners, which violates competition laws.
- Zomato and Swiggy are awaiting the confidential details of the CCI's findings to respond and await a decision on whether there were any violations.
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VIE Stories
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A Deep Dive into the Design Features of the Mahindra Scorpio N
- Mahindra SUVs have a separate fanbase of their own and their overall appeal, particularly Scorpio have enthralled auto enthusiasts for years.
- The all-new Mahindra Scorpio-N builds on the interior design features of the legendary Scorpio model. In-cabin temperature control is another highlight.
- The AdrenoX Connect app allows you to control features like the sunroof and windows of your Mahindra Scorpio N.
- The practical double dump seat folding mechanism in the third row and the folded second row can help you create an impressive 786 litres of boot space.
- On the tech side, the Mahindra Scorpio-N features intelligent human-machine interface and a 12-speaker Sony sound system.
- The Mahindra Scorpio-N is the first SUV in the world to feature Alexa enabled what3words for navigation using a unique and easy-to-recall 3-word combination.
- The new Scorpio-N's front side, with a full-width front grille and premium chrome talons, looks assertive.
- The Mahindra Scorpio-N offers a carefully loaded package of convenience features and visual appeal.
- Mahindra offers seven paint options for Scorpio N, including Dazzling Silver, Red Rage, and Deep Forest.
- The Scorpio N sets new benchmarks in terms of interior and exterior design features and perfectly marries the old-school Scorpio design features with new-age sophistication.
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Siliconangle
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Israeli cybersecurity firm Upwind reportedly in talks to raise $100M on up to $900M valuation
- Israeli cybersecurity firm Upwind Security is reportedly in talks to raise $100 million in funding.
- The funding round is expected to value the company between $850 million and $900 million.
- Upwind Security offers a cloud-native application protection platform that secures cloud infrastructure and mitigates risks.
- The platform combines runtime data with build-time insights, providing efficient and unified cloud protection.
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Startup Pedia
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Zerodha's Nikhil Kamath Becomes Youngest Philanthropist on Harun India List After a Hefty ₹ 120 Cr Contribution
- Zerodha co-founder Nikhil Kamath has been named the youngest philanthropist on the Harun India list for the second year in a row.
- Kamath donated Rs 120 crore to the Rainmatter Foundation, focusing on climate change, energy, education, and health.
- He is also a member of The Giving Pledge, committing to donate a significant portion of his wealth to charitable causes.
- Kamath's proactive approach to philanthropy has inspired others and led to positive changes in various sectors.
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ISN
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Bengaluru-based deep-tech startup Nexstem raises $3.5 million led by InfoEdge, others
- Bengaluru-based deep-tech startup Nexstem has raised $3.5 million in a funding round led by InfoEdge, Zupee, Smile Group, and Gruhas.
- Nexstem focuses on developing non-invasive Brain Computer Interface (BCI) solutions.
- The funding will be used to scale its product ecosystem, expand the IP portfolio, and disrupt the neurotech sector.
- Nexstem plans to launch new products, expand globally, and address real-world challenges in diverse sectors through their BCI ecosystem.
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ISN
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Gujarat becomes India’s first state to implement dedicated semiconductor policy
- Gujarat becomes India's first state to implement dedicated semiconductor policy.
- Gujarat Semiconductor Policy 2022-2027 launched to boost semiconductor production and self-reliance.
- Prominent projects include Micron's ATMP plant, Tata Electronics and PSMC's semiconductor fabrication plant, and CG Power and Renesas' OSAT facility.
- Policy offers incentives like subsidies on land acquisition, electricity, and water, aiming to reduce India's dependence on semiconductor imports.
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Inc42
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Delhivery Allots Over 11 Lakh Equity Shares Under ESOPs
- Delhivery has allotted 11,21,541 equity shares under ESOPs.
- The stock options convert into fully paid-up equity shares with a face value of INR 1.
- The allotment includes shares under different ESOP plans, totaling to INR 38.8 Cr.
- Delhivery's paid-up capital will increase from INR 74.09 Cr to INR 74.20 Cr.
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