Indian sports stars are increasingly investing in mid-sized and emerging startups, according to reports citing former captain of the Indian cricket team, Virat Kohli. The endorsements have proven beneficial for brands and provided startups with a platform, especially during funding slowdowns driven by traditional sources such as venture capital.
Dunzo’s efforts come at a time when it has simultaneously been looking to arrange new capital from both existing and new investors. In June, JioMart, the biggest customer of Dunzo’s B2B arm Dunzo Merchant Services (DMS), cut the prices it paid for last-mile deliveries made by bikes.
India banned TikTok and nearly 300 other Chinese apps in phases, starting from June 2020, over national security concerns.
According to a PwC report titled 'Towards a smarter tomorrow: Impact of AI in the post-COVID era' the industrial products and manufacturing sector has seen the maximum adoption of AI/ML (Artificial Intelligence/ Machine Learning) over the last two years.
"I think we can all agree Elon isn't serious and it's time to move on," Zuckerberg wrote on his Threads social platform.
Anthropic, a startup competing with OpenAI in building AI foundation models, is among the most well-funded AI firms, having raised $450 million from investors including Alphabet Inc's Google and Spark Capital in May.
Manipal Group chairman Ranjan Pai is likely to pick up a stake in FirstCry, as part of a secondary share sale. Pai’s Rs 250 crore investment could come at a valuation of about $3 billion for the Pune-based ecommerce firm looking to file its draft IPO papers before the end of this year. All this and more in today’s Morning Dispatch.
