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Founded in 2015, Niyo offers millennials savings and investment accounts through its Indian banking partners. The company is known for its global travel card, which offers zero forex charges and helps users save on international spends.
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Generative AI: "A very limited number of companies which have attracted a disproportionate amount of the capital... the investment going into the foundational models - we will see that going down," Philippe Botteri, a partner at Accel, said in an interview.
Prashant Prakash from Accel and Nikhil Kamath from Zerodha among the members in the Karnataka government Strategic Investment Committee.
Funding in European and Israeli GenAI startups was close to $1 billion in the last 12 months compared with over $14 billion in U.S. ones, though skewed due to a $10 billion funding to OpenAI alone, the report said.