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Inc42
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Thesys Bags $4 Mn To Provide Platform For Adaptive AI Interfaces
- Bengaluru-based AI startup Thesys has raised $4 Mn in a seed funding round led by Together Fund.
- Thesys plans to build a platform for adaptive AI interfaces that respond to user needs in real-time.
- The startup's core product, the 'Generative UI' platform, enables businesses to create dynamic and personalized interfaces.
- The funding will support Thesys in streamlining design workflows and speeding up launch timelines for AI-enhanced user interfaces.
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Economic Times
7d
890
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Travel startup 30 Sundays raises $770k in round led by InfoEdge Ventures
- Travel startup 30 Sundays raises $770,000 in funding round led by InfoEdge Ventures.
- The round also saw participation from Eximius Ventures, First Cheque, Misfits Capital, and others.
- The funds will be used for expanding operations, acquiring customers, and enhancing personalized travel offerings.
- 30 Sundays focuses on the outbound travel market for couples and utilizes AI to streamline operations.
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Inc42
7d
1.1k
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I-T Dept Raids Truecaller’s India Offices In Tax Evasion Case
- The Income Tax (I-T) department raided the Indian offices of Swedish caller identification platform Truecaller over alleged tax evasion.
- Tax officials raided Truecaller’s offices to check documents regarding certain charges of tax evasion, including those pertaining to transfer pricing (TP) issues.
- Truecaller confirmed that it is assisting the authorities and will cooperate moving forward, while stating that it is not subject to any tax investigation in India outside of routine tax audits.
- India is the largest market for Truecaller, with a monthly active user base of 291.8 million.
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Economic Times
7d
824
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Wealthtech platform Nivesh acquires Wealthzi for undisclosed amount
- Wealthtech platform Nivesh has acquired the wealth management platform Wealthzi for an undisclosed amount.
- The acquisition will allow Nivesh to broaden its product offerings for affluent and high-net-worth individuals.
- Wealthzi's registered investment advisory (RIA) license will be utilized by Nivesh to offer investment advisory services.
- The combined entity will manage assets worth Rs 2,500 crore.
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Inc42
7d
1.3k
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Physics Wallah Slips Into The Red, Posts INR 1,131 Cr Loss In FY24
- Edtech unicorn Physics Wallah (PW) posted a consolidated net loss of INR 1,131.2 Cr in FY24.
- The increase in loss was mainly due to the change in fair value of CCPS and jump in ESOP and employee expenses.
- Operating revenue surged 2.6X to INR 1,940.4 Cr in FY24.
- Physics Wallah's total expenses soared over 280% to INR 3,279.1 Cr in FY24.
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VIE Stories
7d
2.7k
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Croma Appoints Shibashish Roy As Chief Executive Officer
- Croma has appointed Shibashish Roy as its Chief Executive Officer (CEO) with effect from November 18, 2024.
- The decision is an outcome of the succession planning process in the organization, with the imminent retirement of the present Managing Director and CEO, Avijit Mitra, in March 2025.
- Roy currently serves as the company's Deputy CEO, overseeing various critical areas of the business.
- Croma is one of the leading consumer durables and electronics retailers in India, with over 550 stores across multiple cities.
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ISN
7d
928
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KL Rahul-backed Boldfit raises Rs 110 crore in funding from Bessemer Venture Partners
- Boldfit, a D2C fitness brand, has raised Rs 110 crore in funding led by Bessemer Venture Partners.
- Boldfit offers a wide range of fitness products and has partnerships with IPL teams.
- The funding will be used for product innovation, brand expansion, and opening offline stores.
- Boldfit's revenue nearly doubled from Rs 73 crore in FY23 to Rs 140 crore in FY24.
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Yourstory
7d
404
India’s QR soundbox boom: how merchant acquirers can ride the offline payment wave
- The adoption of QR codes is expanding over conventional Point of Sale devices in India.
- QR code deployment increased by 34% to over 350 million in FY24, according to PWC.
- QR-based soundboxes pair seamlessly with real-time payment confirmations making them an essential resource for merchants.
- Instant payment confirmation is essential for sellers and ensures security, minimizing potential for non-payments and fraud at checkout.
- India’s merchant acquiring market reached $611.21 million in 2024 and projected to grow at CAGR of 12% until 2031.
- Offline Payments as a Service handle the entire merchant and transaction lifecycle, reducing merchant acquisition costs.
- PaaS also provides value-added services such as recon/dispute and complaints management.
- A dedicated UPI Switch for merchant transactions can reduce load and manage growing transaction volumes.
- P2M payments comprising 60% of UPI transactions offer a substantial opportunity for expansion.
- The combination of QR codes and soundboxes technology have emerged as a standout innovation in India's digital payments industry.
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Yourstory
7d
4
AI driving India’s data centres; PW’s losses widen in FY24
- Air pollution has plagued several South Asian cities including Delhi and Lahore where it prompted local authorities to set up a war room to combat the problem.
- Trump’s second win is expected to pose a major challenge to the global warming efforts as he has previously described climate change as a hoax and pledged to increase US production of fossil fuels.
- European Commission President Ursula von der Leyen’s absence from COP29 to address the climate crisis has been termed a 'fatal signal', as it may raise doubts about Europe’s commitment to the fight against global warming.
- SpiralWave invented a new device that captures carbon dioxide from the air, converts it into methanol and can be used to combat climate change.
- Several Indian data centres are expanding their facilities to support AI-driven infrastructure for computing power and storage, mainly led by hyperscalers like AWS and Microsoft Azure.
- An Avendus report has projected India’s data centre industry to be worth $25bn by 2030, despite hosting only 150 data centres among the world’s 11,000.
- Edtech company PhysicsWallah recently reported a 13.5x increase in consolidated losses YoY in FY24, despite its operating revenue jumped 160.7%.
- A community service initiative called The Owl House, founded by Priyadarshani Sule and Renuka Figueiredo, aims to empower neurodivergent individuals by training them in professional life skills to find employment.
- Nissan Motors is cutting 9k jobs and 20% of global manufacturing capacity to reduce costs by $2.6bn amid a sales slump in China and the US.
- Australia is introducing legislation to ban children under 16 from all social media platforms, aimed at mitigating the harm social media is doing to the country’s youngest minds.
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StartupDaily
7d
71
Australia’s plan to ban under 16s from social media is yet another messy global fight over science
- Governments worldwide are restricting teenagers’ access to smartphones and social media amidst a scientific debate on whether these technologies actually harm their mental health.
- The debate stemmed from critics of the book “The Anxious Generation” which blamed the rise of youth mental illness on smartphones and social media without providing proof.
- Studies on the effects of social media on mental health produce a variety of results, making it unclear whether social media use is inherently bad.
- The quality of the scientific evidence in these studies is unreliable due to the specific narrow questions addressed and the biases that come from asking people to self-report their mental health.
- There is no evidence that reducing social media use can benefit teenagers' mental health.
- Furthermore, studies focused on specific platforms do not consider social media use as a whole and almost never define the term “social media” properly.
- Moreover, studies at the level of individual behavioural changes to social media does not entirely reflect social media’s fundamental characteristics and behaviours.
- As policymakers continue to restrict teenagers' access to social media, there remains much to learn about whether it does have an impact on mental health.
- With the current evidence, it is almost impossible to know whether social media has any correlation with teenage mental health.
- Therefore, the teens’ social media ban is presenting policymakers with a particularly difficult problem rooted in science’s messy uncertainties.
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Npengage
7d
358
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Convert the Next Wave of Rage Donors into Lifelong Supporters
- Post-election rage giving: rage donors take their candidate’s loss in a presidential bid as inspiration to donate more to causes associated with the candidate’s party, while the winning team’s incoming gifts drop off.
- Data shows a +57.55% increase in gifts to nonprofits associated with the opposite political ideology of the winning presidential candidate.
- Donors also donate millions to organizations associated with liberal and conservative causes for many offices at all levels.
- Take steps to engage the rage donors to build a committed relationship and convert them into lifelong supporters of your cause.
- Rage donors are not feeling charitable; they’re feeling reactionary, driven by fear, anger, or a sense of injustice.
- Converting rage donors into lifelong supporters might have less to do with money than with channeling their anger into positive action.
- Begin cultivating the donor with a personalized thank-you message and invite to upgrade to a monthly gift.
- Add them to your welcome series of emails. Focus on hot-button issues and how donors can make a difference and respond to their social media posts.
- Create a compelling request to generate post-election gifts by providing opportunities for advocacy.
- Stewardship of rage donors takes persistence, even if they have not yet made another gift or volunteered, keep promoting ways for them to be involved with your cause.
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Economic Times
7d
387
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Haldiram Bhujiawala secures Rs 235 crore from Pantomath's Bharat Value Fund; sells minority stake
- Haldiram Bhujiawala sells minority stake to private equity investor Bharat Value Fund (BVF), managed by financial services firm Pantomath Capital Management, for Rs 235 crore.
- BVF is a Category II alternative investment fund (AIF) is managed by Mumbai-based Pantomath's cofounder Madhu Lunawat. This investment was made through BVF's second fund, which has a total corpus of Rs 1,650 crore.
- Haldiram Bhujiawala intends to use the funds to expand its manufacturing capabilities and enter markets beyond its current strongholds in eastern and northeastern India.
- This Kolkata-based snack brand owned by one branch of the Agarwal family, is currently managed by Manish Agarwal.
- The company retails its products under the ‘Prabhuji’ brand, offering a portfolio with over 100 stock-keeping units (SKUs), while also operating quick-service restaurants in West Bengal and other northeastern states.
- Haldiram Bhujiawala also has a distribution network of around 2,000 distributors, serving more than two lakh retailers nationwide.
- In 2019, it bought the US-based coffee chain, the Coffee Bean & Tea Leaf’s India franchise from private equity fund Everstone Capital.
- By the end of fiscal year 2025, Haldiram Bhujiawala expects to achieve revenue exceeding Rs 600 crore and is currently profitable.
- BVF focuses on investing in profitable, growth-stage companies and has recently launched its third fund with a total corpus of Rs 2,500 crore.
- This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all shareholders.
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TheStartupMag
7d
100
Image Credit: TheStartupMag
Seven Reasons Why It’s Important to Have an Up-to-Date Passport as a Business Owner
- Maintaining an up-to-date passport is crucial for business owners to seize travel opportunities and attend meetings abroad.
- Having a current passport allows for last-minute travel and flexibility in securing new deals and responding to client needs.
- It facilitates building and strengthening international relationships through face-to-face interactions, setting a business apart from competitors.
- An up-to-date passport enables business owners to stay ahead in a competitive market by attending trade shows, exhibitions, and conferences.
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TheStartupMag
7d
317
Image Credit: TheStartupMag
How To Connect With Your Target Audience When Launching A New Business
- Develop a content strategy that provides valuable and relevant information to your audience.
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Gritdaily
1w
84
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5 Ways Tech Talents Can Use Media Presence to Build a Tech Career on Their Own Terms
- Establishing a strong PR presence becomes crucial for professionals in the tech industry to stay competitive and be noticed.
- In a world where talent knows no borders, a strong PR presence is a ticket to getting noticed.
- Engaging with international tech communities opens up a world of possibilities.
- By joining conversations tech talents demonstrate their commitment to growth and innovation, value of communication skills, cultural adaptability, and commitment to workplace engagement.
- With companies increasingly hiring remote talent, a strong PR strategy ensures you’re at the top of the list.
- By sharing your insights, opinions, and experiences through traditional media, blogs, podcasts, and social media, shaping industry trends beyond borders is achievable.
- A strong PR presence can significantly impact visa applications for tech professionals relocating to the UK and the US increasing their eligibility for global mobility.
- By showcasing achievements and contributions to the tech community, professionals not only strengthen their applications but also position themselves as highly sought-after candidates in the global tech industry.
- Networking with an international tech community can lead to collaborations, job offers, mentorships, and projects that may not have been possible otherwise.
- Public relations is an incredibly effective tool for professionals and executives in today’s era of global mobility to enhance visibility and credibility.
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