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The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in todays ETtech Morning Dispatch.
Nvidia has acquired Run:ai, the AI workload management startup, for an undisclosed sum.
Nvidia is acquiring Run:ai, a Tel Aviv-based company that makes it easier for developers and operations teams to manage and optimize their AI hardware infrastructure. CTech reported earlier this morning the companies were in "advanced negotiations" that could see Nvidia pay upwards of $1 billion for Run:ai. Nvidia says that it'll continue to offer Run:ai’s products "under the same business model" and invest in Run:ai's product roadmap as part of Nvidia's DGX Cloud AI platform, which gives enterprise customers access to compute infrastructure and soft...
Sources told ET Ather Energy is also in the final stages of plans to raise $75-90 million (about Rs 750 crore) in primary funding from existing investors. This underscores increasing investor interest in the company and the mobility segment. The company is also approaching new investors.