WeWork, the SoftBank Group-backed startup whose meteoric rise and fall reshaped the office sector globally, sought U.S. bankruptcy protection. Notably, bets on companies using more of its office-sharing space soured. The move represents an admission by SoftBank, the Japanese technology group that owns about 60% of WeWork and has invested billions of dollars in its turnaround, that the company cannot survive unless it renegotiates its pricey… read-more
Courtesy: News 18
Google has doubled down on its artificial intelligence bets by investing another $2 billion into AI startup Anthropic, according to a new report. Google has already invested $500 million upfront to Anthropic—a rival to ChatGPT creators OpenAI — and will pay off the remaining $1.5 billion over time, said a post released on October 27. The mega-deal adds to Google’s $550 million investment into Anthropic earlier in the year.
Courtesy: Coin Telegraph
The constant job layoffs have been a concern, especially in the IT sector. In the last week, many people were laid off, in companies like Tata Consultancy(6333,) Infosys(7250,) and HCL(2299). As per reports in the next six months, many more jobs will be cut off & new graduates will face employment difficulties. Considering the situation of huge companies, start-ups are going to work hard to thrive, with no media attention.
In a way to boost start-ups in India, Bits Pilani allowed their students in their final year to take a year off from college and work on ideas for startup companies. The new 'Innovation and Startup Policy 2022" is implemented in Bits Pilani will not only provide time off, but will also give credit scores and 2% grace in semester exams, if their business models get national/state level recognition.
Courtesy: The Hindu
In a major investment boost, Bengaluru-based Drools Pet Food Private Limited has raised $60 million in funding from global consumer-focused investment firm L Catterton. With this, the investment company marked its venture in pet food industry in India. After getting the huge investment, Fahim Sultan, Drools Founder, said, "We are keen to leverage its consumer insights, operating know-how, and commercial network to strengthen our brands… read-more
Courtesy: Your Story
Team Computers, a leading provider of state-of-the-art digital services and IT-consulting solutions received the prestigious 'Economic Times Most Promising Tech Marketeers Award 2023," The IT company was honoured for its excels in tailoring marketing initiatives to meet the unique… read-more
Courtesy: Team Computers
Hitesh Rathi, the founder of Aadvik Foods in 2016, is promoting camel milk. He left his hgh-paying job as an engineer and started his company with less than Rs 10 lakh capital. Aadvik Food currently offers products made from camel milk, including camel milk powder, chocolates, and a cosmetics line. Aadvik Foods distributes also distributes its products in metro cities and other nations, with over one crore turnover.
Courtesy: Zee News India
Hyderabad-based Techno Painst signed a contract with Tollywood superstar Mahesh Babu. The company has appointed Babu as the brand ambassador of the company, for a tenure of two years. Furthermore, the owner of Techno Paints Akuri Srinivas Reddy made an official announcement and said, "Prince Mahesh Babu's image as youth icon will help our company to expand. We are extremely confident of establishing… read-more
Courtesy: Telangana Today
The Indian government is likely to reject crucial funding for Anil Agarwal's chip venture, said sources. Notably, the government authorities will likely inform the joint venture between Taiwan's Foxconn and Vedanta that it will not be receiving incentives for the production of 28-nanometer chips. The announcement will be a blow to Anil Agarwal's dream of establishing India's version of Silicon Valley. The venture failed to meet government's… read-more
Courtesy: The Free Press Journal
In view of sustainable growth demand, Anand Bodh and Arpit Dhupar founded Dharaksha Ecosolutions in 2020. The Faridabad-based B2B startup converts paddy straw stubble into biodegradable packaging material. Getting into details about this start-up, Dhupar said, "We want to eliminate the sources of pollution and replace them with sustainable alternatives." The company owned by Arpit and Anand, is a venture aiming to contribute towards a… read-more
Courtesy: Your Story