Shares of Delhivery have dropped by over 32% since Thursday, tumbling below its issue price from May, after the Indian logistics firm posted muted quarterly business growth this week. Delhivery said this week that its supply chain service and truckload business volumes had shrunk in the quarter ending September. Shares of Delhivery plunged on the […]
Uber has started offering electric vehicles to customers in certain parts of the Delhi-NCR region and says it will be expanding its efforts over the coming months. The electric cabs are currently only available for pre-scheduled trips. “As the leading mobility app in India, we are committed to supporting the Indian government’s emission goals. Expect […]
General Atlantic is in talks to invest about $50 million in Acko, two sources familiar with the matter told ZebethMedia, doubling down on its bet on the Indian insurtech at a time when most investors are treading investment opportunities carefully. The New York-headquartered growth equity investor is positioning to lead a new financing round of […]
Indian news outlet The Wire said on Tuesday it is setting up an internal review to assess the documents, information, source material and people it relied on for critical stories on Meta that claimed the social juggernaut gave governing party BJP’s top digital operative an unchecked ability to remove content from Instagram and a series […]
Flipkart has launched a metaverse offering for consumers to discover and shop new products, the latest bet from the Indian e-commerce giant as it experiments with web3 offerings to supercharge its customer experience. The Walmart-backed Bengaluru-headquartered firm has partnered with eDAO, a Polygon-incubated firm, to launch the metaverse offering, which it is calling Flipverse. The […]
India on Sunday launched 75 digital banking units in villages and small towns across the country in a move that it said will help bring financial services and literacy to more citizens. The digital banking units, set up in collaboration with over 20 public and private banks, are brick-and-mortar outlets that are equipped with tablets […]
Tata Power, a leading power generation company in India, has confirmed it was hit by a cyberattack. In a brief statement released on Friday, the Mumbai-based company said that the attack impacted some of its I.T. systems. “The company has taken steps to retrieve and restore the systems. All critical operational systems are functioning; however, […]
Instagram, facing scrutiny from safety advocates, started testing a program in the U.S. earlier this year to verify users’ age claiming to be 18 or older. It uses techniques including authentication via running video selfies through an artificial intelligence system. The Meta-owned service is now ready to roll out this program to two key overseas […]
Indian edtech Vedantu has acquired a majority stake in education chain Deeksha for $40 million, the latest in local online learning platforms’ growing attempts at tapping opportunities in the offline market. The Bengaluru-headquartered Vedantu, which became a unicorn last year, said it will integrate its technology into offline centers of Deeksha as part of the […]
Indian edtech giant Byju’s said on Wednesday it has eliminated 5% of its workforce, or about 2,500 roles, across multiple departments as it looks to improve its finances and achieve profitability, it said. This the second significant layoff step the startup, valued at $22 billion, has undertaken in recent months. In June, it cut hundreds […]
