Tata Electronics served show cause notice over fire mishap
The Directorate of Industrial Health and Safety (DISH) has demanded an explanation from the company’s occupier and factory manager regarding the incident. Tata Electronics has one week to respond, unless an extension is requested.
MeitY extends deadline for Rs 10,000 crore GPU tender to Nov 12 amid industry concerns
The tender aims to establish public AI cloud infrastructure with more than 10,000 GPUs through a public-private partnership. Some companies raised concerns about energy efficiency requirements, but the tender remains unchanged for now.
India AI Mission chooses projects of 8 colleges for ethical AI development
The Rs 10,372 crore India AI Mission, an initiative of the IT ministry, was launched in July last year and aims to create compute capacity of up to 10,000 graphic processing units (GPUs), develop AI a
India recognised as source of cost-effective digital applications in Global South: IT Secy
Today, in many international fora, India has been recognised as a digital power, S Krishnan, secretary at the Ministry of Electronics and Information Technology (MeitY), said at a virtual address to t
Alchemyst AI has raised funding in a pre-seed round led by Inflection Point Ventures along with 100 unicorns and early seed ventures
The company plans to use new funds to enhance its GPU and technology infrastructure, scale operations, and support team development. Aiming for global expansion in markets like India, the USA, MENA, a
Zerodha launches $1-million annual fund to support open source software projects
Zerodha plans to invest between $10,000 and $100,000 in individual projects, with a total commitment of $1 million per year.
India Inc on GCC bandwagon; BharatPe, Licious FY24 numbers
Indian businesses are expanding their technology capabilities through global capability centres, paralleling international firms operating in India. This and more in today’s ETtech Top 5.
LTTS net profit up 1.9% QoQ at Rs 319.6 crore
The IT engineering firm saw broad-based growth across all verticals and geographies, with revenue rising 4.5% sequentially to Rs 2,572.9 crore in Q2. Year-on-year, revenue was up by 7.8%.
Newgen Software aspires to reach $500 million in revenue in 4 years
The New Delhi-headquartered firm, currently generating $150 million in revenue, expects the US and Europe regions to drive long-term growth.
Temasek seeks CCI nod for investment in Rebel Foods
On August 26, ET had reported that Temasek is in advanced discussions to lead an investment of $100-150 million in Rebel Foods. The deal will be a mix of both primary and secondary share sales, with a
Synergetics wins the FY24 Superstar Campaign Award
Synergetics India wins the FY24 Superstar Campaign Award by Microsoft for its significant contributions in technological innovation, training over 10,000 certified students, leading in 'Learning Achie
India added 174 GenAI startups in one year: Nasscom report
The report highlighted that despite being in an early stage, India’s GenAI startups have attracted over $750 million in cumulative funding since 2023.
Survey software seller SurveyMonkey opens GCC in Bengaluru; plans to have 25% of its R&D team
The San Mateo-based company helps organisations conduct surveys and gather feedback, particularly from employees and clients. It has also recently collaborated with media organisations in the US to conduct surveys for the upcoming elections.
Licious narrows FY24 net loss by 44%, revenue down 8% to Rs 685 crore
Bengaluru-based Licious attributed the revenue drop to the closure of distribution channels, especially Dunzo, along with a reduction in exposure to modern trade and local stores as the company started focusing more on owned channels.
ETtech Explainer: How did the strike at Samsung's Chennai factory unfold?
The Tamil Nadu Labour Welfare Department on Tuesday said the striking workers at Samsung’s factory at Sriperumbudur have agreed to end their strike following conciliation talks held between the company’s management and the workers.
BharatPe posts 39% rise in FY24 operating revenue, loss before taxes narrows 50%
At the group level, its consolidated ebitda (earnings before interest, tax, depreciation and amortisation) loss before share-based payment expense reduced 75% to Rs 209 crore in FY24 from Rs 826 crore in the last fiscal.
SaaS startup Everstage raises $30 million from Eight Roads Ventures, others
Eight Roads Ventures contributed over 50% of the round, while the remainder came from Elevation Capital and 3one4 Capital. Everstage also announced an Employee Stock Ownership Plan (Esop) buyback wort
Fake AI history photos cloud the past
Widely shared on social media, the atmospheric black and white shots -- a mother and her child starving in the Great Depression; an exhausted soldier in the Vietnam war -- may look at first like real
ASML's lowered outlook suggests factory overcapacity, not chip doom
ASML's stock plummeted to its biggest single-day loss in a quarter century on its downgraded forecast. In results that the company inadvertently posted a day ahead of schedule, ASML said it expects 20
India has great advantage in building new AI applications on top of LLMs: Accel partner Shekhar Kirani
Shekhar Kirani points to specific examples that demonstrate India's unique advantage in AI. A Bengaluru-based engineering team, for instance, built an AI application that automates 10-Q filings for US
No-code app builder Tablesprint raises $1 million in angel funding
“We are building an AI-powered platform that helps enterprises go live in minutes, not months. By delivering a consumer app-like experience for enterprise use cases, we enable simple workflows to scal
EU AI Act checker reveals Big Tech's compliance pitfalls
The EU had long debated new AI regulations before OpenAI released ChatGPT to the public in late 2022. The record-breaking popularity and ensuing public debate over the supposed existential risks of su
In 2025, Gen Z’s direct spends will amount to $250 billion: Snap Inc. and BCG's latest report
Currently, out of Gen Z’s total spending power of $860 billion, approximately $200 billion comes from direct spending—money they earn and spend themselves—while $660 billion comes from influenced spen
Australia's planned social media ban raises teen isolation fears
"It's the only way I've ever connected to my grandma before, over socials," said Hussein, who was born in the Democratic Republic of Congo but lived in a refugee camp in Malawi before settling in Aust