Wednesday 30 June 2021

Israeli linked to India's BellTroX in hacker-for-hire scheme seeks plea deal in US

Israeli private detective Aviram Azari is being charged in relation to BellTroX InfoTech Services, which was behind a hacking campaign that targeted lawyers, government officials, businessmen, investors and activists around the world.

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Tim Bernes-Lee's World Wide Web NFT sells for $5.4 million at Sotheby's

The World Wide Web NFT is considered valuable by some because blockchain authenticates that it is one-of-a-kind and has been officially created, or 'minted', by Tim Berners-Lee himself.

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Why PharmEasy bought Thyrocare

In today’s ETtech Morning Dispatch: The rationale for the Pharmacy-Thyrocare deal, according to their promoters; Mobile Premier League (MPL) is set to begin its US innings; and Swiggy’s COO Vivek Sunder is leaving the company.

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Mobile Premier League is all set to start its US innings

Mobile Premier League (MPL), a Sequoia India-backed online gaming startup seeks to stand out in the US market by becoming a ‘super app’—a unified gaming platform with multiple offerings.

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ION Energy gets $3.6 million in pre-Series A funding round

ION Energy will use the fresh funding to grow its team and expand operations in North America and Europe, as well as for product development.

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Early-stage VC Inflexor Ventures raises Rs 600-crore fund

SBICap, SIDBI come in as institutional limited partners in Inflexor Technology Fund, which also has a green shoe option of Rs 100 crore.

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Entry of big firms in healthcare space will benefit users: PharmEasy's Siddharth Shah

API Holdings' Siddharth Shah on what’s next for Thyrocare after the PharmEasy deal, API’s existing online drug delivery business, and what he makes of deep-pocketed rivals Reliance and Tata Group. Excerpts from the interview:

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Swiggy COO Vivek Sunder to step down, CEO Sriharsha Majety takes over role



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Didi Global valued at $80 billion in mega US IPO as shares soar

SoftBank-backed Didi Global's stock opened at $16.65, compared with the IPO price of $14 per share. Its listing in New York is the biggest US share sale by a Chinese company since Alibaba Group Holding raised $25 billion in 2014.

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Amazon said to ask US FTC to recuse Chairwoman Lina Khan

Amazon has filed a petition asking for US Federal Trade Commission (FTC) Chairwoman Lina Khan to be recused on future antitrust matters related to the e-commerce firm.

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Swiggy COO Vivek Sunder to step down, CEO Majety takes over role

COO Vivek Sunder, who was overseeing Swiggy's food delivery business, has decided to pursue interests “outside of Swiggy”, CEO Sriharsha Majety says in an email to employees.

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Google's first report under new IT rules

From Google's first monthly transparency report to Twitter facing a barrage of police cases and Facebook launching a Substack clone, here's a quick look at the top tech news today.

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Razorpay launches MarsShot Ventures to back early-stage startups

MarsShot Ventures, started by a group of top executives at Razorpay including the co-founders Harshil Mathur and Shashank Kumar, has made around 15 investments so far, including BimaPe, UrbanPiper and Hashnode.

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Yuvraj Singh-backed Healthians diagnostics draws up expansion plans

Healthians, a diagnostics company backed by former Indian cricketer Yuvraj Singh, plans to expand operations to 100 new cities in the next six months.

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Treebo raises $16 million Series D funding from Accor and others

The investment by Accor is part of a broader partnership wherein Treebo will deploy Hotel Superhero, its cloud-based hotel management software, at various properties of the French hospitality major worldwide.

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AstraZeneca partners with Docon to digitalise 1,000 clinics across India

Under the AstraZeneca-Docon partnership, the Bengaluru-based healthtech startup will equip the identified clinics with customised Electronic Medical Record (EMR) systems enabling clinicians to access complete patient history.

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M2P Fintech strengthens its technology leadership team

M2P Fintech has appointed Kannan Murali as its head of product and data engineering and Kannan Raju S as vice president, infrastructure and information security.

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How mid-sized IT CEO salaries changed in a pandemic year in India

CEO salaries at India’s mid-sized IT firms moved in tandem with the companies’ profits in a pandemic year, an analysis of annual reports for shows. But how does that compare with the remuneration of an average IT employee?

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Tech Mahindra, TAC Security in tie up for enterprise security solutions

The partnership brings together the global security competency of Tech Mahindra and TAC Security’s Enterprise Security in One Framework (ESOF) to safeguard clients’ applications and infrastructure against cyberthreats.

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Google records over 27,000 complaints in first monthly transparency report under India IT rules

Google received a total of 27,762 complaints from individual users in India during the one-month reporting period of April 1-30, according to the report.

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Shipsy sets up Dubai HQ, outlines hiring plans for Middle East region

Shipsy, a SaaS-based logistics technology startup, plans to help the Middle East businesses automate operations and avert pandemic-induced logistics management challenges.

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Jupiter Capital to launch $150 million Asian private equity fund

The J Capital Asia Fund I will invest in 30-40 tech and disruptive consumer brand companies, Jupiter Capital CIO David Abikzir says.

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LinkedIn denies data breach that reportedly affected 700 million users

LinkedIn data breach: Earlier this week, RestorePrivacy had reported that a hacker was in possession of 700 million LinkedIn records and had posted a sample of one million on a hacking forum.

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CredR raises $6.5 million in funding round led by Yamaha Motor India

CredR, an online and offline marketplace for used two-wheelers, plans to use the funding from investors Yamaha, Omidyar Network and Eight Roads to consolidate its market position, strengthen its technology and expand customer operations.

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Tuesday 29 June 2021

Edtech startup Nalanda Learning Systems raises Rs 40 crore from Aavishkaar Capital

Nalanda Learning Systems, an edtech startup that operates 'Little Laureates' pre-schools across eastern India, plans to use the funds received from Aavishkaar Capital to expand operations nationally, CEO Tamal Mukherjee says.

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Facebook launches newsletter product Bulletin, its Substack rival

CEO Mark Zuckerberg announced the platform, which is live at Bulletin.com, and introduced some of the writers that the company has recruited in a live audio room on Facebook.

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Google rolls out MUM to simplify, refine Search for Covid-19 vaccines

Google has started implementing Multitask Unified Model (MUM), an AI-based search technology, to surface high-quality information about Covid-19 vaccines across the world.

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Detect Technologies gets $12 million funding from Accel, others

Industrial AI startup Detect Technologies’ funding round comes at a time when it’s looking to grow its presence overseas to tap the rising demand for automation amid a pandemic.

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Sequoia startup accelerator picks 13 Indian firms for fifth batch

Sequoia's Surge startup accelerator has made early-stage investment space very competitive for Indian funds such as Blume Ventures, India Quotient and Orios Venture Partners.

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Tiger Global leads Quizizz’s $31.5 million Series B funding round

Bengaluru-based Quizizz, a student engagement platform, will use the funding from Tiger Global to expand its team in India and the US and invest in key partnerships to accelerate overseas expansion.

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Grofers, Zomato and the big online grocery battle

In today’s ETtech Morning Dispatch: Grofers set to become a unicorn with Zomato and Tiger Global funding, Restaurants are looking beyond Swiggy and Zomato to acquire customers, and Sequoia picks 13 Indian startups to accelerate.

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Devas seeks to seize Air India overseas assets to enforce Antrix arbitration award

The litigation filed by Devas Multimedia in a US court stems from the cancellation of a satellite deal with ISRO’s Antrix Corp. in 2011 that culminated in the $1.2-billion arbitration award.

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Freshworks appoints Randi Bryant as its first chief diversity and inclusion officer

Randi Bryant says she is impressed by Freshworks founder Girish Mathrubootham's leadership during the pandemic, as the SaaS startup went above and beyond to support a global team.

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Grofers set for unicorn club

From Grofers eyeing an entry to India's startup unicorn club to the rise of Thrasio-like startups and Twitter facing another FIR, here's a quick look at the top tech news today.

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Karnataka HC to hear Twitter India MD’s challenge to UP Police order on July 5

The UP Police has filed an appeal in the Supreme Court against the Karnataka High Court order, challenging the protection from arrest granted to Twitter India MD Manish Maheshwari in the Ghaziabad viral video case.

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Grofers to turn unicorn after $120-million funding from Zomato, Tiger Global

Tiger Global, a common investor in Zomato and Grofers, to also participate in the funding round. Zomato and Grofers had explored a potential merger at the onset of the pandemic last year but the talks fell through.

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Qmin, Indian Hotels’ food delivery platform, lays out its expansion plans

Qmin, Indian Hotels’ “youngest brand”, will address multiple segments of India's food delivery market dominated by Swiggy and Zomato.

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AI pioneer Raj Reddy honoured by Silicon Valley’s Computer History Museum

Raj Reddy, an Indian-American professor and researcher, has been honoured for his contribution towards revolutionising artificial intelligence (AI) and continuous speech recognition.

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Facebook partners with VC fund Stellaris to help SMEs scale quickly

The Facebook-Stellaris initiative aims to build an ecosystem for small and medium enterprises (SMEs) to grow and give young businesses customised training.

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NIRAMAI Health Analytix gets CDC backing for Covid-19 screening test

The financial support from the UK’s CDC Group has allowed NIRAMAI Health Analytix to successfully pilot FeverTest at IT parks, schools and some hospitals across Indian cities, Founder CEO Dr Geetha Manjunath says.

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UK’s fintech startup Tide lays out its India plan for next 5 years

Tide Platform, a UK-based fintech startup that helps SMEs open business accounts, plans to invest £100 million (Rs 1,000 crore) and create 1,000 jobs in India over the next five years.

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10club raises one of the largest seed funding rounds in India

10club, which acquires, operates and grows e-commerce first businesses, has raised $40 million from a clutch of investors, including HeyDay, at a time when Thrasio-style ventures are gaining traction in India.

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Axis Bank selects AWS to move banking ops to the Cloud

Axis Bank selected Amazon Web Services (AWS) to accelerate its digital transformation programme and meet the growing demand for its digital banking services.

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Facebook to submit compliance report as per India IT rules next month

Facebook’s compliance report will contain information on content takedown requests it received from the government and users in India, and action taken on them between May 15 and June 15.

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Language-learning app Duolingo files for US IPO, reveals revenue surge

Duolingo recorded revenue of $55.4 million for the three months ended March 31. Net losses in the same period widened to $13.5 million from $2.2 million a year ago.

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Monday 28 June 2021

Google services suffer outage in North America, Downdetector says

Google, YouTube and Gmail were down Monday evening, with users complaining of difficulty in logging in and accessing the websites in parts of North America, according to Downdetector.

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New headache for Twitter as Bajrang Dal leader files FIR over distorted India map

The police complaint filed by Praveen Bhati, a leader of the Bajrang Dal in Uttar Pradesh, accuses Twitter India boss Manish Maheshwari of breaching the country's IT rules as well as laws designed to prevent enmity and hatred between classes.

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Facebook hits $1 trillion market cap after judge rejects antitrust cases

Facebook shares rose more than 4% after a US judge dismissed a case that sought to force the company to sell Instagram and WhatsApp. The share price surge pushed Facebook's market capitalisation to over $1 trillion for the first time.

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What’s behind the insurtech boom?

In today's ETtech Morning Dispatch: Acko raises $200 million to become India's latest startup unicorn, Govt-Twitter spat set up escalate over distorted India map, Shuttl likely to shut down, and Quadria plans to invest $400-500 million in India.

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Exotel, Ameyo join forces to address cloud-based contact centre services

The undisclosed Exotel-Ameyo merger deal will see investors representing 80% of shareholding in Ameyo exiting in cash, while CEO Sachin Bhatia and other ESOP holders in the company will get a stake in Exotel.

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HPBOSE 10th Result 2022 LIVE Updates: Himachal Board HP 10th result today at 11, check details here

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