Page 11 - Tech Prowess News Today

Mixed reality (MR) content publishing platform Flam will use the fresh capital to expand its MR platform footprint into new countries in North America, Europe and the Middle East and North Africa.

The Build for Bharat initiative was started in New Delhi in December last year in collaboration with the governments Startup India platform, Google Cloud India, Antler in India, Protean and Paytm. It was organised in more than 50 cities with experts, leaders, venture capitalists and incubators onboard.

The Digital Services Act (DSA) which kicked in last year applies to all online intermediaries and platforms, but with tougher obligations on Big Tech to do more to police illegal and harmful online content on their platforms.

The move comes after a tumultuous six months for Altman, the co-founder of the San Francisco-based company behind ChatGPT and a venture capitalist who Forbes says amassed much of his $1 billion through investments.

Google-backed edtech startup Adda247 saw strong growth in FY24, with revenue nearly doubling to Rs 243.39 crore from Rs 129.65 crore in the previous year. They also made significant progress on profitability, slashing their net loss by two-thirds to Rs 101 crore, down from Rs 296 crore in FY23.

New Delhi-based investment firm Sauce VC, which has backed new-age luggage brand Mokobara, healthy foods startup The Whole Truth and petcare firm Supertails, aims to raise Rs 250 crore for its third fund. This comes as D2C firms see growing interest from risk capital investors. The firm looks to back 15-16 consumer brands in their early stages.

Project Gameface, is an open source, hands-free, on-device, AI-powered ‘mouse developed by Google that allows phones, computers to be controlled with facial expressions.

Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.

Mitter Infotech LLP sells 6.38% stake in Nazara Technologies to Plutus Wealth Management, providing liquidity for promoters while retaining control. Nazara reports 43% increase in quarterly profit after tax.

Elon Musks artificial intelligence startup xAI has raised $6 billion in a Series B funding round backed by investors including Andreessen Horowitz and Sequoia Capital, among others, the company said in a blog post on Sunday.