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IISc-backed ARTPARK to launch $100 million venture fund to invest in AI, robotics startups

The Indian Institute of Science (IISc) – Bengaluru’s AI & Robotics Technology Park (ARTPARK) has announced the launch of a $100 million venture fund. The Securities Exchange Board of India (SEBI) has given ARTPARK permission to launch the fund. According to Umakant Soni, the CEO of ARTPARK, the venture fund will be formally launched by the end of this month, pending SEBI approval, and fund deployment will likely begin in May or June. Soni said the venture fund size of investments will be in the range of $1 million to…

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YouTube’s Android app now has video transcriptions

YouTube has added a very useful feature to its videos that will greatly simplify working with quotes and scripts. The platform hosts videos ranging in length from a few seconds to several hours, including podcasts, video essays, and more. And if you needed to find a specific quote or section from these lengthy videos, you’d have to sit through the majority of them until you found what you needed. This problem is now solved by the new transcription feature, which allows users to search for specific parts of a video….

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AICRA hosts 3rd edition of GAISA to boost AI adoption in India

In a bid to accelerate AI adoption in India, The All-India Council for robotics and automation will host the third edition of the Global Artificial intelligence summit and awards(GAISA) from the 14th and 15th of September 2022 at Vigyan Bhawan, New Delhi. The summit is a Global AI event that comprises insightful and innovative presentations, panels and round-table discussions, keynote sessions by experts, and an exhibition of new products and services related to artificial intelligence. The event also sets the platform for honouring exemplary work of the institutions, organizations, and…

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Classplus set to score $80 Mn in Series D round

B2B edtech startup Classplus is in late-stage talks to raise $80 million in a new round co-led by existing investors. This is the Noida-based startup’s fifth funding round in the last two years. “Alpha Wave Global and Tiger Global will lead the Series D round along with the participation of other existing backers and a Middleeast fund,” said one of the people requesting anonymity. Surge from Sequoia Capital, Times Internet, Blume, and GSV Ventures are among the company’s current backers. Tutors can use Classplus’s full-stack mobile solution to manage all…

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Piyush Goyal calls upon startups to help India become self-reliant in energy, defence sectors

Piyush Goyal, the Union Minister for Commerce and Industry, on Sunday called for startups to help India become self-reliant in the energy and defence sectors, citing the COVID-19 pandemic as an example of a crisis turned opportunity. Every crisis, like Covid-19’s, can be turned into an opportunity. At the ET Startup Awards in Bengaluru, Shri Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, said that Covid-19 is a big crisis and that the “biggest of the century” crisis was turned into an…

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Ad-blocking YouTube Vanced app shutting down over legal threats from Google

YouTube Vanced, the popular ad-blocking tool, is shutting operations after getting legal threats from Google,. The app’s creator revealed the news with an official tweet. Vanced has been “discounted,” according to the statement, and the download links will be withdrawn soon. The ad-blocking app will continue to work for those who already have it installed on their phones, according to the same tweet. It will, however, cease to function at some point in the near future. The shutdown has yet to be given a definite start date. YouTube Vanced is…

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Competition Commission approves Amazon’s acquisition of Prione

The acquisition of Prione Business Services by Amazon Asia-Pacific Resources has been approved by the Competition Commission of India (CCI). Prione was a joint venture between Catamaran, founded by Narayan Murthy, and Amazon. Cloudtail India, the company’s wholly owned subsidiary, is one of Amazon’s top sellers in the country. On March 9, CCI announced the launch of a microblogging site. In December, Amazon announced its intention to buy Prione. So far, Amazon and Catamaran have jointly controlled Prione Business Services, whose fully owned subsidiary Cloudtail India has been extensively scrutinised…

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80 million people in Russia would lose access to Instagram on Monday

Russia is about to prohibit Instagram, and the country’s president, Adam Mosseri, is furious. According to internal emails to Facebook’s content censors, the move to block Instagram in the country comes a day after Facebook permitted posts calling for the death of Russian President Vladimir Putin in countries such as Russia, Ukraine, and Poland. “On Monday, Instagram will be blocked in Russia. This decision will cut 80 million in Russia off from one another, and from the rest of the world, as 80% of people in Russia follow an Instagram…

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RBI directs Paytm Payments Bank to stop onboarding new customers

The Reserve Bank of India (RBI) asked Paytm’s digital banking unit, Paytm Payments Bank, to halt new user onboarding on its platform. The RBI explained its decision, stating that it was prompted by “some serious supervisory concerns” in the bank. Furthermore, the bank has been ordered to hire an IT auditing firm to undertake a full system audit of its IT system. “Action against Paytm Payments Bank Ltd under section 35 A of the Banking Regulation Act, 1949. The RBI has today, in the exercise of its powers, inter alia,…

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Byju’s closes $800 million pre-IPO fundraise at a valuation of $22 billion

The edtech company Byju’s announced on Friday that it had received $800 million in a pre-IPO financing. According to sources close to the situation, Byju Raveendran, the company’s founder and CEO, has personally contributed $400 million. According to people familiar with the matter, the financing, which comes ahead of the company’s anticipated initial public offering (IPO), values the Bengaluru-based firm at over $22 billion. It is India’s most valuable startup due to its massive post-money valuation. Sumeru Ventures, Vitruvian Partners, and BlackRock were the other investors who participated in the capital…

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