Digital payments major PhonePe is in talks to acquire homegrown content and app discovery platform Indus OS in a deal valued around $60 million, sources aware of the matter said. Bengaluru-based PhonePe’s rationale for acquiring Indus OS is to boost its ‘super app’ Switch, where it hosts apps across categories such as food, travel, shopping and lifestyle. A super app is simply a platform that offers a wide range of services under one umbrella. Local developers use Indus OS to reach non-English speakers beyond India’s tier 1 cities and allow…
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Samsung Expands Blockchain Support on Galaxy Smartphones Amid Crypto Boom
Samsung Electronics said on Friday it has expanded support for blockchain users trading virtual assets on its Galaxy smartphones amid rising interest in cryptocurrencies. The South Korean tech said its latest update will allow users to easily manage their transactions by importing their virtual assets stored on select cold hardware wallets to the Samsung Blockchain Wallet available on most Galaxy smartphones. “Support for hardware wallets provides Galaxy blockchain with a consistent user experience of managing crypto assets from one convenient location,” Samsung said. A hardware wallet refers to a cryptocurrency…
Read MoreE-Commerce Firms Face More Hurdles in Maharashtra, Assam
New rules from the governments of Maharashtra and Assam have created additional hurdles for e-commerce and transport operators, including those delivering food, groceries and other essential supplies. The Maharashtra government, in a notification on Wednesday, said drivers and helpers of all goods carriers entering the state must carry a negative RT-PCR certificate that is less than 48 hours old, and that it will be valid for only seven days. The new rules also say that a cargo carrier cannot have more than two people. Meanwhile in Assam, though the government…
Read MoreRBI grants PPI authorisation to Eroute Technologies
The Reserve Bank of India (RBI) has granted authorisation to Eroute Technologies to operate as a prepaid payment instruments (PPI) company. The RBI issued authorisation on May 10, 2021, to Eroute Technologies Pvt Ltd with perpetual validity to commence issuance and operations of semi-closed pre-paid instruments in the country, the company said in a statement on Wednesday. The Noida-based firm said the RBI authorisation will enable it to launch its payment solutions at scale independently unlike neo banks and other bank-led fintech companies. PPIs are instruments that facilitate purchase of…
Read MoreSelf-Driving Truck Startup Plus to Go Public Through $3.3 billion SPAC Deal
Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V in a deal that values the self-driving truck technology startup at $3.3 billion. The combined company will get proceeds of $500 million from the deal, including a private investment of $150 million. Investors in the deal include BlackRock and D.E. Shaw group, among others. In February, Plus raised $200 million in a funding round, co-led by brokerage Guotai Junan International and private equity firm CPE, according to data from Pitchbook. Founded…
Read MoreIt Began as an AI-Fueled Dungeon Game. It Got Much Darker
The game touted its use of the GPT-3 text generator. Then the algorithm started to generate disturbing stories, including sex scenes involving children. IN DECEMBER 2019, Utah startup Latitude launched a pioneering online game called AI Dungeon that demonstrated a new form of human-machine collaboration. The company used text-generation technology from artificial intelligence company OpenAI to create a choose-your-own adventure game inspired by Dungeons & Dragons. When a player typed out the action or dialog they wanted their character to perform, algorithms would craft the next phase of their personalized,…
Read MoreWindows 10X: Microsoft reportedly shelves its ambitious lightweight operating system
Windows 10X is apparently dead. Microsoft’s long-awaited Windows 10X operating system, its Chrome OS competitor, has been cancelled. According to Petri, Microsoft won’t ship the operating system anytime soon. The Windows 10X, which many thought would be a fresh take on Windows 10, was supposed to come first on single-screen devices designed for education and business use. While Microsoft may have stopped the development of Windows 10X, the company is still expected to bring some elements of the operating system to Windows 10 later this year. It is said that…
Read MoreMIT Researchers have Built a Powerful Nanoscale Flashlight on a Chip
For many decades, scientists have used light to identify a material by observing how that light interacts with the material. They do so by essentially shining a beam of light on the material, then analyzing that light after it passes through the material. Because all materials interact with light differently, an analysis of the light that passes through the material provides a kind of “fingerprint” for that material. Imagine doing this for several colors — i.e., several wavelengths of light — and capturing the interaction of light with the material…
Read MoreIndia, UK to Ramp Up Cooperation in Science, Technology, Innovation
New Delhi: India and the UK will step up cooperation in the area of science, technology and innovation including strengthening the role of women in STEMM disciplines at schools, universities, and research institutions, the Department of Science and Technology said on Friday. The two sides will work to create an enabling environment for equal participation of women in STEMM (Science, Technology, Engineering, Mathematics and Medicines) disciplines through collaboration on new initiatives like Gender Advancement for Transforming Institutions (GATI) project. In a virtual meeting between Prime Minister Narendra Modi and his…
Read MoreIIT Chennai Startup Builds ‘India’s First’ 3D Printed House
Tvasta Manufacturing Solutions, a start-up founded by alumni of IIT Madras, has made what it says is India’s first 3D-printed house. The team printed the structure using a specialty concrete that it had developed to print large-scale 3D structures in short periods. They say the mix is based on ordinary portland cement, which has a lower water-cement ratio. Though concrete is the primary material typically used in construction projects, it cannot be recycled and requires a lot of energy to mix and transport. So, the team’s effort to use technology…
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