GIC

Image Source : RAZOR PAY Razorpay POS unveils 2-minute instant refunds for failed UPI transactions Razorpay POS, a fintech platform has recently launched an industry-first 'instant refunds' feature on failed unified payments interface (UPI) transactions in India. The solution by Razorpay POS will provide users with instant refunds for failed UPI transactions within two…

Electric scooter maker Ola Electric is set to file its Draft Red Herring Prospectus (DRHP) by next week as it prepares for an initial public offering (IPO). The DRHP, filed to the market regulator Securities and Exchange Board of India (SEBI), is a preliminary offer that introduces a firm that is looking to list its shares publicly to potential investors in the market. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School…

Yesterday, Nvidia unveiled the H200 chip for artificial intelligence models, which will now be the company's most advanced semiconductor. Now today, November 14, things in the AI space has become even more exciting. In the first incident, YouTube announced that it would begin a crackdown on AI-generated deepfakes, especially those that mimic the platform's music industry partners. In other news, a new Oxford study has revealed that AI can help predict the risk of a heart attack as much as 10 years ahead of time. This and…

Fintech company Cred has acqui-hired the founding team of YCombinator-backed personal finance app, Spenny. As a part of the arrangement, some founding team members, including Spenny founder Rathin Shah, will be joining the Cred product team and work on building new features. “The work Cred and Kunal (Shah) have done to inculcate positive financial behaviour has been an inspiration. We're excited to start a new journey working with the kickass team at Cred to take this mission forward. Onwards & upwards!’’, said Rathin…

Hi, Digbijay here in Bengaluru. The slowdown in funding for startups continues unabated across stages unless you are building something with those three magical words: generative artificial intelligence. During my conversations with several top entrepreneurs, CEOs, and venture investors over the past many weeks, what’s been clear is that even as there is a funding slowdown, significant secondary share sales are happening, and more such deals are being planned for the rest of the year as well. Peyush Bansal, cofounder and…

Scooter maker Ola Electric will hold talks next week with investors in Singapore and the United States on its planned stock market listing, the first of a series of meetings for its up to $1 billion IPO, two sources with direct knowledge said.The sources said Ola, which makes electric scooters and is backed by investors such as SoftBank and Temasek, has plans to raise between $600 million and $1 billion in its initial public offering (IPO), which is planned for late 2023. With the IPO still some way off, Ola is embarking…

Indian internet firms have given internet body IAMAI a thumbs-down, alleging that it has favoured Big Tech companies on multiple issues. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ Myntra launches fashion portal FWD to tap GenZ shoppers■ India’s plan at UN cybercrime panel seeks right to ask data from nations■ Kunal Shah’s NBFC Newtap in talks to raise $50­-70 million Indian startups demand change at tech industry body IAMAI, accuse it of favouring Big Tech Contending that the Internet and…

The Competition Commission of India (CCI) on Friday said it has granted its approval for the stake acquisition in climate technologies' business of Emerson Electric Co by BCP Emerald Aggregator LP. BCP Emerald Aggregator LP is an affiliate of US-based alternative asset manager Blackstone. The deal has been cleared under the green channel route. The proposed transaction relates to the acquisition by BCP Emerald Aggregator LP (Buyer) of a majority stake in the climate technologies business of Emerson Electric Co (Seller),…

Flipkart cofounder Binny Bansal is in talks to invest about $100-150 million in PhonePe as part of an ongoing financing round at the digital payments company, people in the know said. The transaction, if it goes through, will be among the largest individual investments in a new-age firm, similar to the $100 million bet taken by Flipkart’s other founder Sachin Bansal in Ola during 2018.“The amount that he (Binny Bansal) is investing is yet to be finalised. The talks have been on and are likely to close soon,” said a person…

The solar storm that struck the Earth on February 27 was remarkable for multiple reasons. The G3-class solar storm was one of the most intense solar onslaughts we have witnessed in a long time. Its impact was so huge that SpaceX had to delay its Falcon 9 rocket launch by almost 5 hours. Even oil rigs in Canada had to shut shop due to excessive production of geomagnetically induced currents (GICs) which posed a big threat to disrupt, or even destroy, sensitive instruments. But an unexpected side-effect of the storm was…