Tiger Global backs lending platform Money View in $75 million Series D funding

Money View, a Bengaluru-based lending fintech, has secured $75 million in a Series D round, bringing its valuation to $625 million, as fintech businesses continue to draw investor interest in the face of rising digitisation of financial services. The round included Tiger Global, Winter Capital, Evolvence India, Accel, and other investors such as South Park Commons, Trusted Insight, and Dream Incubator, according to the company. Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, IIT Delhi alumni, the company provides personalised credit products such as instant personal loans, cards, BNPL,…

OneBanc partners with Peoplestrong for automation of payroll banking

OneBanc, a neo-banking start-up powered by artificial intelligence, has teamed up with PeopleStrong, an HR Technology SaaS platform for businesses, to automate payroll banking at a time when attrition is on the rise. The automated process, which is powered by OneBanc’s proprietary AI-powered backend engine, can increase the in-hand salary of India’s 119 million white-collar professionals by up to 7% and corporate bottom lines by up to 10%. Payroll banking is a $6 trillion industry for white-collar professionals that is expected to grow to $8 trillion by 2025. The industry…

Researchers develop hybrid human-machine framework for building smarter AI

Artificial intelligence underpins many areas of daily life, from chatbots that answer tax questions to algorithms that operate autonomous vehicles and provide medical diagnostics. According to experts at the University of California, Irvine, creating smarter, more accurate systems necessitates a mixed human-machine approach. They describe a new mathematical model that can increase performance by integrating human and computational predictions and confidence scores in a paper published this month in Proceedings of the National Academy of Sciences. “Humans and machine algorithms have complementary strengths and weaknesses. Each uses different sources of…

Kerala police to get training in AI, Data Analytics

Kerala Police, which is known for being one of the most technologically advanced departments in the country, is experimenting with disruptive technologies such as Artificial Intelligence and Data Analytics in order to stay ahead of the curve in this era of digital transformation. The Digital University Kerala, the country’s first on-campus digital university, is assisting them in this endeavour. Capacity Building in Responsible Artificial Intelligence and Data Analytics for the Police Department, a specially tailored training programme, was launched at DUK’s Pallippuram campus earlier this week, according to an official…

Flipkart partners with Google Cloud for providing better customer service

Flipkart has signed a multi-year agreement with Google Cloud, allowing it to use Google’s data centres and services to improve its overall customer service. Cloud computing allows businesses to develop goods and services without having to maintain their own servers and data centres. Flipkart will be able to handle more traffic during peak shopping seasons as a result of this partnership, and hence reach more customers. Flipkart will also be able to accelerate the development of new products in order to expand into tier-2 and tier-3 cities. Flipkart’s data analytics will…

Ukraine invasion sets back Musk’s dream for cheaper EVs, for now

Rising material costs, worsened by Russia’s invasion of Ukraine, might put Tesla CEO Elon Musk and other auto executives’ plans to roll out more cheap electric vehicles on hold. According to Gregory Miller, an analyst at industry forecaster Benchmark Mineral Intelligence, rising prices of nickel, lithium, and other materials threaten to slow or even reverse the long-term trend of falling costs of batteries, the most expensive part of EVs, impeding broader adoption of the technology. That’s on top of a supply chain already clogged by the COVID-19 outbreak and a…

Early stage platform for investors LetsVenture launches new initiative for women entrepreneurs

LetsVenture, an early stage platform for investors and founders has established a new program called Women Founders Network (WFN) for women entrepreneurs in India to help build and run disruptive startups. The announcement follows the firm’s launch of the Women Investor Network (WIN) in 2021, which saw over 100 women from various backgrounds participate in the last year, including entrepreneurship, finance, marketing, engineering, finance, and more. “LetsVenture plans to onboard about 1000 women founders and investors on the platform in the next one year’s time through this initiative,” the release said. “Last…

Edtech startup Infinity Learn acquires Don’t Memorise

Infinity Learn, the edtech startup of the Sri Chaitanya group, has purchased Don’t Memorise, a concept-based multilingual content platform, for an unknown sum. Don’t Memorise, which was founded in 2014, focuses on the K-10 market, specifically grades 6 to 10, and develops math and scientific material in English, Hindi, Marathi, and Bengali. Mumbai-based Don’t Memorise claims to have 2.6 million YouTube subscribers and over 250 million views. “While the organic growth continues to be strong for Infinity Learn, inorganic routes including acquisitions, is another pillar for growth and expansion. This…

Women entrepreneurs leading India’s billion dollar startups

Four of the 44 Indian startups that became unicorns last year were run by women. Although the number appears modest at first glance, it is significantly greater than the two companies that made the list in 2020. To make matters even better, in the first two months of 2022, four female-led businesses have already joined the unicorn club. Mamaearth by Ghazal Alagh, Hasura by Rajoshi Ghosh, LEAD School by Smita Seorah, and Pristyn Care by Dr Garima Sawhney are among the names on the list. In startup jargon, a unicorn…

B2B logistics tech platform Oorjaa raises Rs 9 crore led by Inflection Point Ventures

Oorjaa, a technology-enabled platform for the Intra-City logistics industry, announced today that it has raised Rs 9 crore in a pre-Series A fundraising round headed by Inflection Point Ventures in a business-to-business (B2B) logistics company. According to the statement, a number of high-net-worth individuals (HNIs) participated in the round, both personally and through Vinners’ angel investment platform. Sandeep Patil, Prashant Mohite, and Yogesh Parab launched Oorjaa in November 2019. “Our experience of interacting with IPV has been very fulfilling with complete handholding during the entire process. Their quality of diligence…