Welcome to the world of facts and news: May 2022

Agritech startup Nutrifresh raises $5 million funding from investors

"The funding will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated Farm-tech platform," Nutrifresh said in a statement.

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Agritech startup Nutrifresh raises $5 million funding from investors

"The funding will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated Farm-tech platform," Nutrifresh said in a statement.

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Agritech startup Nutrifresh raises $5 million funding from investors

"The funding will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated Farm-tech platform," Nutrifresh said in a statement.

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Myntra gets master distribution rights for American fashion brand 'bebe' in India

The San Francisco-based fashion marquee brand will cater to the mass premium segment and is set to offer an extensive range of apparel across categories for women in India, particularly targeting the urban and fashion forward cohort, spread across the country's metros and tier 1 cities.

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Myntra gets master distribution rights for American fashion brand 'bebe' in India

The San Francisco-based fashion marquee brand will cater to the mass premium segment and is set to offer an extensive range of apparel across categories for women in India, particularly targeting the urban and fashion forward cohort, spread across the country's metros and tier 1 cities.

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Alternative data insights startup Synaptic secures $20 million in funding

The current capital infusion will not only increase its reach extensively and help to expand to more markets and geographies but also help to focus on doubling its current headcount of approximately 80 people in the next 18 months.

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Foxconn predicts more stable supply chain in the second half of 2022

"We are quite confident in the stability of our supply chain for the second half of this year," Foxconn Chairman Liu Young-way told the company's annual shareholder meeting.

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CCI studies 'ecommerce nexus’; IT workers trickle back to office

Competition Commission of India is studying documents found during the raids that suggest financial dealings between the ecommerce majors and their preferred sellers.

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Crypto paper soon, no need to revise growth forecast: Economic affairs secretary Ajay Seth

On the sidelines of a finance ministry event, the secretary also said there is no case for revising growth estimates downwards. He said inflation should moderate soon and that the government is well-prepared for any shock.

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Flipkart promotes two executives to SVP as part of multiple promotions

Bharath Ram and Guddeti Bharath Reddy have been elevated as SVPs, while Sharon Pais, who was moved to Myntra as its chief business officer, has been made a VP.

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Sugar Cosmetics raises $50 million led by L Catterton

The beauty brand's current annualised revenue run rate is around Rs 500 crore and that is expected to reach Rs 2,000 crore over the next 24-36 months, the company said earlier.

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CCI wing probing dealings between ecommerce companies and preferred sellers

It has now sought more time from the commission to review these documents, found during the raids last month, following allegations of violation of competition law by ecommerce majors Amazon and Flipkart.

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Cert-In warns users about mobile-based malware and methods employed to infect devices

The advisory warned that malware such as Adware, cryptocurrency mining malware, remote access tools, mobile banking and short messaging service trojans, mobile spyware and ransomware were active and users must ensure they are safe from them.

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SoftBank executive pay slashed after historic Vision Fund loss

The company’s founder and chief executive officer (CEO) Masayoshi Son kept his pay unchanged at 100 million yen (roughly $785,000), however four of the top six executives saw their compensation drop following a record $20.5 billion loss.

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Eight years of technology-led ‘Antyodaya’

​​​​Today Aatmanirbhar Bharat, in its ‘Amrit Kaal’, has ushered in a new era of opportunities for progress and prosperity for India@100.

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Swiggy eyes Metro AG’s India ops; startups shift gear as large deals dry up

The German wholesaler, which operates 31 stores in India, has approached more than 10 companies to buy its local unit for around $1.5 billion, we reported previously.

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Venture capital firms tighten funding tap of Indian startups

In the period April 1-May 16, 2022, there were only nine funding rounds of more than $100 million, cumulatively amounting to a little over $2 billion, compared to 27 such deals in the January-March period this year, according to data sourced from New York-based analytics platform CB Insights.

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Swiggy one of possible contenders for India operations of German wholesale retailer Metro AG

Such a move would be aimed at taking forward Swiggy’s ambition of venturing further into ecommerce, expanding its business beyond mainstay restaurant delivery, as well as accelerating Instamart’s growth, said the people cited above.

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Swiggy in contention for Indian operations of German wholesale retailer Metro AG

Such a move would be aimed at taking forward Swiggy’s ambition of venturing further into ecommerce, expanding its business beyond mainstay restaurant delivery, as well as accelerating Instamart’s growth, said the people cited above.

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CCI probe into Whatsapp's anti-trust practices delayed as company holds back info

​CCI commissioned an investigation into Whatsapp’s new privacy policy in March 2021 but the company has neither supplied documents sought nor responded to the prima-facie observations made by CCI, people cited above said.

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Twitter starts rolling out 'Circle' to more users

The feature, which allows users to choose up to 150 people, works a lot like Instagram's Close Friends, as it allows users to send out tweets to a specific group of people rather than all of Twitter, reports The Verge.

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10-minute delivery startups ready to defy downturn as demand surges

Startups like Swiggy Instamart, Zepto, and Reliance-backed Dunzo, etc are trying to defy the current slowdown, as they add more goods and daily essentials to their kitty and deliver them to their customers.

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Apple, Google face scrutiny over collecting abortion data



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Ecomm and food delivery companies fail to bridge the gender gap

Female delivery partners across all companies in the industry account for less than 1% of the overall number of people deployed in such roles.

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Tata Neu has big plans for financial services, says chief executive Pratik Pal

Tata Digital houses the Tata Group’s digital businesses, including the super app.

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Tata Neu has big plans for financial services, says chief executive Pratik Pal

Tata Digital houses the Tata Group’s digital businesses, including the super app.

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CERT-In's requirements may make it difficult to do business in India: Business groupings

This will create a disjointed approach to cybersecurity across jurisdictions, which in turn will undermine the security posture of India and its allies in the Quad countries (Japan, Australia, India and the US), Europe and beyond, the letter—reviewed by ET—stated.

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CERT-In's requirements may make it difficult to do business in India: Global groupings

This will create a disjointed approach to cybersecurity across jurisdictions, which in turn will undermine the security posture of India and its allies in the Quad countries (Japan, Australia, India and the US), Europe and beyond, the letter—reviewed by ET—stated.

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Government proposes to set up India Data Management Office

The IDMO will also frame data, dataset and metadata rules in consultation with the respective ministries and state governments, according to a draft of the National Data Governance Framework released by the IT ministry on Friday.

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Government proposes to set up India Data Management Office

The IDMO will also frame data, dataset and metadata rules in consultation with the respective ministries and state governments, according to a draft of the National Data Governance Framework released by the IT ministry on Friday.

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Tesla will not manufacture in India unless it is allowed to sell, service cars: Elon Musk

“Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars,” he tweeted.

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Elon Musk says Tesla will not manufacture in India unless it is allowed to sell, service cars



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BookMyShow sees rush of users post-Covid wave with highest-ever ticket bookings

"BookMyShow has achieved a remarkable milestone across both its key content pillars - cinema vertical and the TVOD platform BookMyShow Stream - in April 2022, setting the tone for the Indian movie entertainment industry, surpassing pre-pandemic numbers by a landslide," Bookmyshow Cinemas COO Ashish Saksena said in a statement.

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Musk sued by Twitter investors for stock 'manipulation' during takeover bid

The investors said Musk saved himself $156 million by failing to disclose that he had purchased more than 5% of Twitter by March 14. They asked to be certified as a class and to be awarded an unspecified amount of punitive and compensatory damages.

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Now, Google in talks to join ONDC; Purplle may raise fresh funds at $800 million valuation

Google is also in talks to partner with ONDC, which it sees as a means of discovering businesses.

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Tech campuses play the 5G tone in indigenisation drive

IIT-Madras, IISc, Bengaluru, IIT-Kanpur and a few other top-tier tech institutes are rapidly building the hardware and software for 5G technologies and using their campuses as testing facilities.

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Purplle in talks to raise $75-100 million with its existing investors

The Mumbai-based company, Purplle will raise the money largely from its existing investors Verlinvest, Kedaara Capital and Premji Invest, among others, they said.

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Google in active discussions in exploring ways to partner with ONDC

At present, Google's talks are “exploratory” and have spanned across different businesses within Google including search and payments, according to one person cited above who said, “there is a definite interest” in engaging with the ecommerce network.

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Lumos Labs raises $1.1 million in funding; launches developer-centric metaverse platform

The round also saw participation from venture capitalists such as Superblock, Next Web Capital, Arcanum Capital, AG Build, Paradigm Shift Capital, and multiple angel investors from the Web3.0 ecosystem.

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Chipmaker Broadcom to buy VMware in $61 billion deal to diversify into enterprise software



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Invact CEO Manish Maheshwari reneged on agreement to leave startup: angel investor alleges

ETtech had reported on May 23 about an email that Pratap had sent to investors detailing the rift between him and Maheshwari and saying that the company was on the verge of a shutdown as it fires employees.

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Edtech startup Infinity Learn picks up 75% stake in WizKlub

With the acquisition, Infinity Learn – backed by the Sri Chaitanya Group - has forayed into a new vertical, Infinity Futurz, which offers skills for success beyond the school curriculum.

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India could play a role in shaping Metaverse: Ajit Mohan

Meta announced that it partnered with venture capital fund Kalaari Capital to upskill and scale young, invested businesses in India by providing them with timely business skilling support.

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Google pursuing licensing deals with publishers: CEO Sundar Pichai

In recent years, Google has signed several deals with news and content generators as well as publishers worldwide to pay for content. This includes local and national publications in the UK, Germany, Australia, Brazil, France, Hungary, the Netherlands and Ireland.

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Swiggy eyes commerce play with Minis marketplace

Swiggy is working on a marketplace model to onboard local stores and direct-to-consumer (D2C) brands, multiple people aware of the matter said, adding that and a pilot project is already under way.

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Inventus Capital launches Rs 900 crore fourth fund; rebrands as Athera Venture Partners

The launch of the fund comes at a time when dealmaking has slowed down with macro headwinds hurting investments and valuations of technology companies.

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Our job was to price the issue conservatively: Delhivery CEO Sahil Barua

The top management at Delhivery, which made its public market debut on Tuesday, was “nervous” ahead of the listing due to the uncertain investor sentiment but were never “really concerned” about the issue not being fully subscribed, said cofounder and chief executive Sahil Barua.

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Our job was to price the issue conservatively: Delhivery CEO Sahil Barua

The top management at Delhivery, which made its public market debut on Tuesday, was “nervous” ahead of the listing due to the uncertain investor sentiment but were never “really concerned” about the issue not being fully subscribed, said cofounder and chief executive Sahil Barua.

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We are now standing at crossroads: Metaversity founder Manish Maheshwari

Manish Maheshwari says, "As we started testing the early versions of the Metaversity platform with real students, it became apparent to us that the immersive classroom and community experience was not being delivered at the level we had envisaged."

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We are now standing at crossroads: Metaversity founder Manish Maheshwari

Manish Maheshwari says, "As we started testing the early versions of the Metaversity platform with real students, it became apparent to us that the immersive classroom and community experience was not being delivered at the level we had envisaged."

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Yellow.ai deploys 30% of global generative AI bots domestically

While markets like the US are mostly using GenAI for customer support in a bid to cut costs, India Inc. is using them as an opportunity to g...