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Time of India
2 hours ago
- Business
- Time of India
Dhan's funding nears close; BNPL gets regulated out
Dhan's funding nears close; BNPL gets regulated out Also in the letter: Dhan closes in on $200 million fundraise from Chrys Cap, Alpha Wave, MUFG Driving the news: Deal details: The fundraise includes a mix of primary capital and secondary share sales The round values Dhan at $1.1 billion, making it India's fifth unicorn of 2025. Google and Amazon may come in through a smaller follow-on round. Dhan, in numbers: Active traders: 971,000, as of March 2025 971,000, as of March 2025 Net profit: Rs 155 crore in FY24, against loss of Rs 22 crore in FY23 Rs 155 crore in FY24, against loss of Rs 22 crore in FY23 Revenue: Rs 380 crore in FY24, 600% up from Rs 54.2 crore in FY23. Zoom out: BNPL hits the brakes as fintechs pivot to EMI loans and traditional consumer credit Losing takers: PayU has migrated LazyPay into a KYC-compliant EMI checkout solution. Paytm shut down its BNPL product last year. Mobikwik has discontinued Zip Loans, according to its FY25 earnings disclosure. Simpl remains one of the few major players still active in the BNPL space. Quote, unquote: Zoom out: Also Read: Bigger story intact: What's changed is the format: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: VCs sniff opportunity as petcare expands beyond food Funding frenzy: On Monday, Nestlé SA announced a minority investment in Drools, making it a unicorn. Supertails, backed by Fireside Ventures, is in talks to raise $24–25 million in fresh funding. Gurugram-based veterinary care startup Vetic recently raised $26 million in a round led by Bessemer Venture Partners. Industry outlook: Over the past five years, petcare startups in India have secured $198 million across 20 deals. The Indian petcare market, currently valued at $3.5 billion, is projected to double to $7–7.5 billion by 2028. Pet ownership has grown steadily, with the number of pets in Indian households rising from 26 million in 2019 to an estimated 32 million by 2024. Tell me more: Pet parents are moving beyond need-based purchases, increasingly spending on grooming products, clothing, toys, and more. While the market is currently dominated by Mars, the maker of Pedigree and Royal Canin, D2C brands are rapidly gaining ground. Quick commerce is fueling growth, enabling faster access to pet supplies and expanding consumer demand, according to industry experts. Ex-intel, AMD executives throw hat into AI semicon ring Tell me more: Four Texas Instruments executives launched C2i Semiconductors, which is building hardware designed to reduce energy consumption in chips. Bodhi Computing, founded by Intel veterans Sambit Sahu and Raghuraman Barathalwar, was acquired by Krutrim in 2023. Agrani Labs, set up in Bengaluru by four ex-Intel and AMD executives, is working on India's own AI chip designs. Zoom out: Other Top Stories By Our Reporters TCS paid CEO K Krithivasan Rs 26.5 crore in FY25: Zetwerk sharpens focus on capital goods equipment business: Karnataka to issue draft gig workers' welfare rules in two weeks: L Catterton to raise $600 million for its first India-dedicated fund: Snabbit raises $19 million to fund expansion: Global Picks We Are Reading Happy Thursday! Stock broking startup Dhan is poised to finalise its long-awaited funding round. This and more in today's ETtech Morning Dispatch.■ Petcare opportunity■ Veterans enter AI chip space■ TCS CEO pay hikePravin Jadhav, founder, DhanOnline investment platform Dhan is set to close a $190–200 million funding round , making it the latest entrant to the coveted unicorn Mumbai-based startup is finalising a new round led by ChrysCapital, with participation from Alpha Wave and Japanese financial services giant MUFG. Sunil Bharti Mittal's family office and Dream11 founder Harsh Jain, an existing investor, will also join the fundraise comes as Groww, India's largest stockbroker by active clients, gears up for an IPO . While many peers have lost ground, Dhan has grown its user base, thanks to a profitable business model and a sharp focus on sticky, high-frequency power management startups are navigating a choppy start to 2025, amid tighter regulations on F&O trading and a post-bull market cooldown. Dhan, however, is bucking the pay-later (BNPL) products are losing momentum amid regulatory tightening and growing concerns over credit quality.'Fintechs are finding that instalment financing is still viable, but only through a regulated, KYC-compliant setup. The shift is forcing many players to abandon pure-play BNPL and embrace structured EMI lending,' a senior executive at a large fintech company told us on the condition of credit tightening goes beyond fintechs. Banks and NBFCs — key partners in BNPL lending — are pulling back due to rising macroeconomic risks and growing exposure to unsecured Vysya Bank, which backs Amazon's BNPL programme, struck a cautious tone during its recent analyst call, noting it has tightened onboarding the pivot, industry insiders say the broader story of unsecured consumer credit growth remains industry is shifting away from short-term, low-ticket loans with loose underwriting towards EMI-based products with complete Know Your Customer (KYC) checks, longer tenures, and stronger risk Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship opportunities.A post-Covid surge in pet adoption, the expansion of petcare services, and the rise of quick commerce are drawing both venture capital and strategic investors to India's growing petcare a dozen senior professionals from tech giants such as Intel, AMD, and Texas Instruments, each with 15-20 years of experience, are now leading AI semiconductor startups in is rapidly emerging as a hub for chip design and development, with increasing momentum to establish comprehensive, full-stack semiconductor ecosystems. Startups beyond the AI space have also drawn investor interest in the past year, including Mindgrove Technologies, InCore, and Agnit Semiconductors.K Krithivasan , CEO, TCSTata Consultancy Services (TCS) paid its chief executive, K Krithivasan, Rs 26.5 crore in the financial year 2025 , representing a 4.6% increase from the previous fiscal year. This total includes a base salary of Rs 1.4 crore, benefits, allowances, and prerequisites worth Rs 2.13 crore, as well as Rs 23 crore in manufacturer Zetwerk has launched a dedicated division within its electronics manufacturing branch, aimed at producing equipment and capital goods Karnataka will release draft rules on charging a fee on online platforms to fund welfare programmes for gig workers in about two weeks, state labour minister Santosh Lad told us, a day after Governor Thaawarchand Gehlot approved an ordinance to this L Catterton is raising $600 million for its inaugural India-focused fund, marking the first time a global private equity firm has launched an investment vehicle specifically for the Indian home services app Snabbit has raised $19 million in a funding round led by Lightspeed. The new capital will be used to expand into new micro-markets and strengthen the team amid rising demand.■ If algorithms radicalize a mass shooter, are companies to blame? ( The Verge ■ Grand Theft Auto publisher swaps DEI for 'Diversity of Thought' in annual report ( Wired ■ Microsoft starts testing Copilot for Gaming in Xbox app for iOS and Android ( TechCrunch
Free Malaysia Today
2 hours ago
- Business
- Free Malaysia Today
Nvidia earnings beat expectations despite US export controls
China export restrictions underscored immediate geopolitical pressure, while Nvidia also faced rising competition as rivals like AMD gained ground. (EPA Images pic) NEW YORK : Nvidia on Wednesday reported earnings that topped market expectations, with a US$4.5 billion hit from US export controls being less than the Silicon Valley chip juggernaut had feared. However, Nvidia CFO Colette Kress warned in an earnings call that export constraints are expected to cost the AI chip titan about US$8 billion in the current quarter. Nvidia in April notified regulators that it expected a US$5.5 billion hit in the recently-ended quarter due to a new US licensing requirement on the primary chip it can legally sell in China. US officials had told Nvidia it must obtain licenses to export its H20 chips to China because of concerns they may be used in supercomputers there, the company said in a Securities and Exchange Commission filing. The new licensing rule applies to Nvidia graphics processing units, or GPUs, with bandwidth similar to that of the H20. 'China is one of the world's largest AI markets and a springboard to global success,' Nvidia chief executive Jensen Huang said in an earnings call. 'The platform that wins China is positioned to lead globally; however, the US$50 billion China market is effectively closed to us.' Nvidia cannot dial back the capabilities of its H20 chips any further to comply with US export constraints, winding up forced to write off billions of dollars on inventory that can't be sold or repurposed, according to Huang. 'The US has based its policy on the assumption that China cannot make AI chips,' Huang said. 'That assumption was always questionable, and now it's clearly wrong.' China's AI is moving on without Nvidia technology, while that country's chip-makers innovate products and ramp up operations, according to Huang. 'The question is not whether China will have AI; it already does,' he said. 'The question is whether one of the world's largest markets will run on American platforms.' The new requirements resulted in Nvidia incurring a charge of US$4.5 billion in the quarter, associated with H20 excess inventory and purchase obligations 'as demand for H20 diminished,' the chip-maker said in an earnings report. US export constraints stopped Nvidia from bringing in an additional US$2.5 billion worth of H20 revenue in the quarter, according to the company. Nvidia said it made a profit of US$18.8 billion on revenue of US$44.1 billion, causing shares to rise more than 4% in after-market trades. Huang said demand for the company's AI-powering technology remains strong, and a new Blackwell NVL72 AI supercomputer referred to as a 'thinking machine' is in full-scale production. 'Countries around the world are recognising AI as essential infrastructure – just like electricity and the internet – and Nvidia stands at the centre of this profound transformation,' Huang said. Nvidia high-end GPUs are in hot demand from tech giants building data centres to power artificial intelligence. The company said its data centre division revenue in the quarter was US$39.1 billion, up 10% from the same period last year. The market had expected more from the unit, however. 'Nvidia beat expectations again but in a market where maintaining this dominance is becoming more challenging,' said Emarketer analyst Jacob Bourne. 'The China export restrictions underscore the immediate pressure from geopolitical headwinds but Nvidia also faces mounting competitive pressure as rivals like AMD gain ground,' said Emarketer analyst Jacob Bourne. Revenue in Nvidia's gaming chip business hit a record high of US$3.8 billion, leaping 48% and eclipsing forecasts. The AI boom has propelled Nvidia's stock price, which has regained much of the ground lost in a steep sell-off in January triggered by the sudden success of DeepSeek. China's DeepSeek unveiled its R1 chatbot, which it claims can match the capacity of top US AI products for a fraction of their costs. 'The broader concern is that trade tensions and potential tariff impacts on data center expansion could create headwinds for AI chip demand in upcoming quarters,' analyst Bourne said of Nvidia.
Yahoo
5 hours ago
- Business
- Yahoo
Advanced Micro Devices, Inc. (AMD) Acquires Enosemi to Strengthen Its Co-Packaged Optics Capabilities
Advanced Micro Devices, Inc. (NASDAQ:AMD) announced on Wednesday that it has acquired Enosemi, a company specializing in photonic integrated circuits, to strengthen its co-packaged optics capabilities within AI systems. Enosemi had previously worked with Advanced Micro Devices, Inc. (NASDAQ:AMD) as an external development partner in the field of photonics, and the acquisition builds on that collaboration. Now operating under AMD, the Enosemi team is expected to help the company scale its efforts in developing and supporting advanced photonics and co-packaged optics technologies for next-generation AI infrastructure. Co-packaged optics, the emerging technology in focus, enables data transmission using laser light over fiber optic cables between chips. This approach offers faster speeds and greater energy efficiency compared to conventional copper-based connections. The move aligns with Advanced Micro Devices, Inc. (NASDAQ:AMD)'s broader strategy to build a comprehensive portfolio tailored to the evolving demands of AI. That strategy has included the integration of Xilinx's adaptive SoC and AI Engine technologies, the addition of advanced networking through Pensando, the formation of a world-class AI software team via the acquisitions of Silo AI and Mipsology, and, most recently, the scaling of full rack-level system design through the recent acquisition of ZT Systems. While we acknowledge the potential of AMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None. Sign in to access your portfolio
Yahoo
6 hours ago
- Business
- Yahoo
Advanced Micro Devices, Inc. (AMD) Acquires Enosemi to Strengthen Its Co-Packaged Optics Capabilities
Advanced Micro Devices, Inc. (NASDAQ:AMD) announced on Wednesday that it has acquired Enosemi, a company specializing in photonic integrated circuits, to strengthen its co-packaged optics capabilities within AI systems. Enosemi had previously worked with Advanced Micro Devices, Inc. (NASDAQ:AMD) as an external development partner in the field of photonics, and the acquisition builds on that collaboration. Now operating under AMD, the Enosemi team is expected to help the company scale its efforts in developing and supporting advanced photonics and co-packaged optics technologies for next-generation AI infrastructure. Co-packaged optics, the emerging technology in focus, enables data transmission using laser light over fiber optic cables between chips. This approach offers faster speeds and greater energy efficiency compared to conventional copper-based connections. The move aligns with Advanced Micro Devices, Inc. (NASDAQ:AMD)'s broader strategy to build a comprehensive portfolio tailored to the evolving demands of AI. That strategy has included the integration of Xilinx's adaptive SoC and AI Engine technologies, the addition of advanced networking through Pensando, the formation of a world-class AI software team via the acquisitions of Silo AI and Mipsology, and, most recently, the scaling of full rack-level system design through the recent acquisition of ZT Systems. While we acknowledge the potential of AMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None. Sign in to access your portfolio
Time of India
6 hours ago
- Politics
- Time of India
Pause in US student visa interviews makes families review plans
Mumbai: Increased scrutiny of international students' social media activity and a pause in US visa interview appointments have triggered more concern among Indian students aspiring to study in the US. With the roadmap unclear and digital vetting deepening, many feel caught in a wave of uncertainty about their academic futures. In some cases, parents are considering putting plans for foreign education on hold for a year or look for alternatives in Australia or Europe. Dr. Karan Gupta, a career guidance counsellor, confirmed that "students who already have visa appointments can proceed as planned," but those without one "will have to wait longer till appointments open." He said social media profiles "are being scrutinised more closely," a practice that, while not new, has now intensified. US secretary of state Marco Rubio has in a recent cable to US embassies indicated the need to widen screening of foreign students for social media activity that promotes anti-semitism or indicates a desire to participate in political movements. This heightened focus on their digital activity is prompting many students to review their online profile and past activity. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to seamlessly scale and efficiently manage network traffic - Google Cloud: Future of Infrastructure CIO | Google Cloud, AMD Undo "If their political opinions or views don't align with that of the US, they're going to face problems," Gupta explained. However, he said this was not an invasion of privacy since the content is publicly posted. A student at Pennsylvania State University had a different perspective: "To be honest, it is really scary. Just hearing about how many international students had their visas cancelled is nerve-racking." Education consultant K.P. Singh echoed these concerns, stating that digital vetting "has actually been in place for over two years now," but "the US govt is now moving toward formalizing it with defined parameters." Singh noted that about 10% of his students express anxiety, though "parents are debating whether to defer their children's plans by a year or look for alternatives like Australia or Europe." The lack of clarity and consistency in the US govt's approach is especially troubling. According to the Penn State student, "There really is no pattern to who is getting sent back. It's all very messed up." Mental health is also taking a hit. "A lot of students are very stressed and it's taking a toll on their mental health," they said, adding that the university has arranged special counselling sessions. Despite these hurdles, Dr. Gupta assures students that universities are supportive. "They are telling students not to panic and proceed as planned." Yet, as visa policies evolve, the future remains uncertain—leaving students in a precarious balancing act between their academic aspirations and an increasingly watchful immigration system.
