Latest news with #ETtechMorningDispatch.
Time of India
a day ago
- Business
- Time of India
Startups eye insurance pie; Good Glamm's salary delay
Next Startups eye insurance pie; Good Glamm's salary delay Want this newsletter delivered to your inbox? Also in the letter: Startups leverage distribution chops to gain ground in general insurance Piece of pie: Rapido is seeking the insurance regulator's nod for the licence. Vehicle management firm Park+ entered the fray in March with a full-stack distribution license. Fintech firms like Freo and wealth management startup IndMoney are also making their move. Strategy take: Other players: Also Read: Good Glamm delays paying salaries again amid cash crunch What's happening? Asset sales Also Read: The bigger picture: 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: Hyundai, Kia sell shares worth Rs 690 crore in Ola Electric via block deal Tell me more: Big buyer: Stock hit: Tough quarter: IndiaAI empanelment drives down prices of GPUs in second round Driving the news: The hourly rate for the same GPU model fell between Rs 4 and Rs 1,234 from round one to round two. Thanks to a 40% government subsidy, India may now offer some of the world's lowest GPU service prices. The second round includes 53 GPU categories Prices have dropped in 16 of those categories, compared to the first round. Other Top Stories By Our Reporters TCS, Virgin Atlantic extend tech alliance of two decades: Wipro signs deal with US security solutions firm Entrust: OpenAI announces $150,000 in grants to 11 Indian nonprofits for social innovation: Musk kicks off xAI, Neuralink fundraises after DOGE farewell: Global Picks We Are Reading Happy Wednesday! Startups are eyeing a piece of the general insurance market. This and more in today's ETtech Morning Dispatch.■ Ola Electric block deal■ GPU price reductions■ TCS-Virgin Atlantic allianceStartups are leveraging their distribution muscle to carve out a larger share of India's underpenetrated general insurance market.A growing number of startups have secured or are applying for corporate agency licences, which allow them to partner with up to 27 insurers across life, general and health vehicle management or ride-hailing companies, car insurance is a logical extension, and a sizable opportunity, according to industry insiders.'Since car insurance is a mandatory product, many vehicle owners opt for the cheapest available option. That limits room for product innovation," one expert said, adding that the viability of the business is a challenge in the made its entry into insurance a few years ago, offering full-stack products for both driver-partners and customers. Fintech major Cred is eyeing the same route via its vehicle tracking platform, encourage wider adoption, the Insurance Regulatory and Development Authority of India (IRDAI) is promoting greater participation by startups in insurance distribution. Meanwhile, insurers themselves are increasingly open to tech-led beauty and content platform Good Glamm Group has delayed employee salaries for a second consecutive month, as it continues to grapple with a funding squeeze, sources told company had previously informed employees that April salaries would be deferred and paid along with May's in June. However, as of June 3, no salaries have been credited, and this time, management has not provided any explanation for the former employees are also awaiting their full and final settlements, leaving both current and former staff financially strained.: To stay afloat, the Mumbai-based company has been selling or exploring the sale of multiple portfolio brands. Sources said Good Glamm is in talks to sell its stake in personal care brand Organic Harvest back to the brand's founders. As we've reported earlier, it has already exited Sirona and ScoopWhoop Once valued at over a billion dollars, Good Glamm pursued an aggressive acquisition spree during the peak of the roll-up ecommerce boom, rapidly acquiring direct-to-consumer (D2C) and content brands. However, scaling and integrating those businesses proved more challenging than anticipated, leading to layoffs, restructuring, stalled growth, and a depleted funding 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 Motor and Kia Corporation have sold shares worth nearly Rs 690 crore in electric two-wheeler maker Ola Electric through open market offloaded 108 million shares at Rs 50.70 apiece, totalling Rs 551.9 crore. Kia sold 27 million shares at Rs 50.55 each, amounting to Rs 137.3 crore, according to NSE Global Markets Mauritius picked up shares worth Rs 435.4 crore in the same Electric shares closed 8% lower at Rs 49.33 on the NSE on June Bengaluru-based firm has endured a challenging fourth quarter , marked by declining market share, a falling stock price, and increasing regulatory India AI Mission has triggered a 10% drop in the lowest (L1) prices for graphics processing units (GPUs) in the second round of the tenders, data reviewed by ET from the first round will now be asked to match these revised prices, unlocking significant savings for end Consultancy Services (TCS) and UK-based airline Virgin Atlantic have extended their technology partnership for an additional seven years, aiming to drive artificial intelligence (AI)-led airline operations and enhance the customer the country's fourth-largest IT services company, announced on Tuesday that it has entered into a multi-year agreement with Entrust, a US-based company focused on identity-centric security solutions. The financial details of the deal were not intelligence (AI) model developer OpenAI has announced grants totaling $150,000 for nonprofit organisations in India that address challenges in healthcare, education, agriculture, gender equity, and disability Elon Musk is busy raising fresh funds for his new-age companies as he steps away from politics and refocuses on managing his businesses. The richest person in the world recently bid farewell to the Department of Government Efficiency (DOGE) amid widespread backlash and his apparent disillusionment with the current administration.■ How to make AI faster and smarter—with a little help from physics ( Wired ■ VC money is fueling a global boom in worker surveillance tech ( Rest of World ■ New spying claims emerge in Silicon Valley corporate espionage scandal ( FT
Time of India
3 days ago
- Business
- Time of India
New-age cos' road to profitability; QED's Nigel Morris interview
New-age cos' road to profitability; QED's Nigel Morris interview Also in the letter: Most listed new-age startups improve Q4 profitability; Swiggy, Ola lag behind Why it matters: By the numbers: Between the lines: Brokerages highlighted rising margins at Nykaa and PB Fintech as signs of sustainable growth. Swiggy claims its peak burn is behind it; Blinkit says it will prioritise growth, even at the cost of profitability. Ather Energy narrowed losses, while Ola Electric lost EV share to Bajaj & TVS. The bottom line: Also Read: Regulators realising fintechs are here to stay: QED's Nigel Morris Fintech domination: Regulatory headwinds? Neobanking concerns: APAC in focus: UPI transactions rise 4.4% in May after April decline Numbers game: May's figure marks a 4.4% rise from April's 17.89 billion transactions, which had fallen from 18.30 billion in March due to a spate of service outages. In value terms, UPI handled Rs 25.14 lakh crore in May. This is up from Rs 23.95 lakh crore recorded in April. Also Read: 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: Job losses: How AI has painfully disrupted dreams of young software engineering graduates Uncertain days: Rise in anxiety: How to surivive: Also Read: BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru Going in-house: Starbucks, a joint venture between Tata Consumer Products and Starbucks Corporation. Qmin, a food delivery platform owned by Indian Hotels Company Limited (IHCL). Customers can also order beverages, including coffee, tea, and juice, along with snacks, meal bowls, and desserts. Tell me more: Also Read: Other Top Stories By Our Reporters VerSe Innovation allegedly billed without services; Indian company denies claims: Top illegal betting site Parimatch draws more visits than Amazon, X: LinkedIn lays off hundreds as tech giants continue to cut jobs: Global Picks We Are Reading After a torrid time on Dalal Street, new-age firms have taken a turn towards profitability in the March quarter. This and more in today's ETtech Morning Dispatch.■ AI and the Indian middle-class dream■ BigBasket's rapid food delivery foray■ Builder AI-VerSe dirty dealOut of 17 publicly listed new-age firms in India, 11 reported better profitability in the March quarter, either by narrowing losses or posting stronger profits. Top performers included Nykaa, Policybazaar, Delhivery , Ather Energy and Ixigo This points to stronger operational discipline across India's digital-first companies. But the momentum remains uneven, with quick commerce bleeding cash through the quarter.A few breakout names are beginning to show maturity, but India's new-age tech companies are still navigating the trade-off between growth and profitability, with quick commerce emerging as the new Morris, managing partner, QED InvestorsFintechs are no longer scrappy outsiders. They're scaling faster than traditional players and increasingly, regulators are recognising them as a permanent fixture in the financial services industry, QED Investors' cofounder Nigel Morris told us In an exclusive interview during his annual visit to India, Morris said fintechs are beginning to dominate categories such as earned wage access, money transfers, and neobanking. With AI reshaping everything from underwriting to product delivery, fintechs are adopting the technology at a far faster rate than legacy fintech sector is currently navigating tighter scrutiny, particularly around unsecured lending and digital compliance, pressures that have hit both fundraising and valuations. But Morris sees this as a 'natural cycle' that will ultimately lay the groundwork for the next wave of QED remains bullish on India, it is cautious about segments like neobanking, where many players have yet to show strong user engagement or effective cross-selling, said its Asia head, Sandeep Patil. Still, Morris believes the stronger fintechs will earn regulatory trust and may eventually secure banking which backs Jupiter, OneCard, Upswing, and Efficient Capital Labs in India, plans to invest $250–300 million in early- and growth-stage startups across India and the Asia-Pacific. The fund has deployed about $220 million in the region over the past five Payments Interface (UPI), the real-time payment system operated by the National Payments Corporation of India (NPCI), processed 18.68 billion transactions in May, a bounce back from April's 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 languages like Java, C++, and Python have done more than just build software . They built lives. For years, they offered a ticket to stable jobs, upward mobility, and a way out of the lower-middle-class trap. Millions rode that wave, often becoming the first in their families to do came AI. And with it, the middle class's dreams, written in the promise of software, are under jobs that generations of engineering students saw as a gateway to long, stable careers are no longer a given. AI has redrawn the industry map, leaving behind a trail of layoffs, shifting role definitions, and a rising cohort of under-skilled young developers are the worst hit. Many AI tools now outperform entry-level programmers, leaving them anxious, unsure, and struggling to prove their worth. The impact goes beyond the professional, with mental health issues becoming increasingly common.'More than 60% of engineering students don't have enough hands-on knowledge and experience,' says TeamLease Digital's Neeti Sharma, adding that beyond college degrees, what's needed is certifications in AI, cloud, security, or data science, working on real projects (like sharing code on GitHub), and joining hackathons or its services, the Tata Group's grocery delivery firm, BigBasket, has entered the rapid food delivery space , offering 10-minute deliveries in select Bengaluru pin its 10-minute food play, BigBasket has tapped into Tata's in-house brands. New offerings include items from:The move comes five months after cofounder and CEO Hari Menon said on X that BigBasket would enter the food delivery market. In a December 2024 post, Menon had announced plans to expand BigBasket's SKUs to over 30,000 in all tier-1 cities, launch pharma deliveries via Tata 1mg, and introduce a food delivery VerSe Innovation, the parent company of the news aggregator platform Dailyhunt, and London-based AI startup allegedly inflated revenue by issuing invoices to one another without providing services in many instances, according to a Bloomberg betting and gambling platforms such as 1xBet, Parimatch, Stake, Fairplay, and BateryBet drew a staggering 5.4 billion visits in FY25, with Parimatch alone generating more traffic than Amazon, X (formerly Twitter), LinkedIn, Hotstar, Quora, or Reddit, according to a study by CUTS job and networking platform LinkedIn has joined the growing list of tech giants laying off employees, reducing 281 positions across California.■ How the loudest voices in AI went from 'regulate us' to 'unleash us' ( Wired ■ The math tutor and the missing $533 million ( Rest of World ■ Can the Gulf really become an AI superpower? ( FT
Time of India
28-05-2025
- Business
- Time of India
Unacademy founders exit stage; Ola Electric's freefall
Unacademy founders exit stage; Ola Electric's freefall Want this newsletter delivered to your inbox? Also in the letter: Exclusive: Unacademy founders Munjal, Saini set to exit, shift focus to AirLearn Why it matters: Backdrop: The big picture: Ola Electric slips to number three in EV two-wheeler market as rivals gain ground By the numbers: Rivals on the rise: TVS Motor and Bajaj Auto increased their market shares to 25% and 22.6%, respectively, in May, despite slight dips in absolute volumes. Ather Energy's share declined to 13.1%, from 14.9% in April. Mounting headwinds: Mismatch with targets: What's next: 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: Top AI firms pivot to profitability track leaving price wars behind Driving the news: Quote, unquote: Fresh challenges: Way ahead: Other Top Stories By Our Reporters US court asks Infosys, Cognizant to resolve case via informal deal: Oyo to meet bankers next week for third IPO attempt: Info Edge Q4 profit surges 8x to Rs 678 crore on one-time gains: Blackbuck turns in a profit of Rs 280 crore in Q4: Logistics SaaS startup Fleetx raises Rs 113 crore: Frinks AI raises $5.4 million in fresh round: Contineu raises $1.2 million: Global Picks We Are Reading Happy Wednesday! Unacademy cofounders are planning to exit the edtech firm as the company expands its offline footprint. This and more in today's ETtech Morning Dispatch.■ AI price tags■ Infosys-Cognizant legal spat■ BlackBuck turns profitableGaurav Munjal and Roman Saini, cofounders of Unacademy, are preparing to depart from the SoftBank-backed edtech firm as it doubles down on its offline coaching pivot, people in the know told us. Sumit Jain, who joined Unacademy in 2020 through the acquisition of his startup Opentalk, will take over as CEO, they leadership shake-up follows months of boardroom deliberations and coincides with the founders' growing focus on AirLearn, a standalone language learning app aiming to take on Duolingo. AirLearn has hit 70,000 daily active users (DAUs) and a $2 million revenue run rate, Munjal recently told and Saini are expected to receive a cash payout while retaining their equity in the company. Their departure follows Unacademy's scrapped $800 million deal with Allen Career Institute, as reported by us on December 4, and comes amid a wider edtech slump that has seen peers like Byju's valued at $3.4 billion, Unacademy has struggled to hold onto its pandemic-era highs. It posted Rs 840 crore in revenue for FY24 and cut net losses to Rs 631 crore. The company still has Rs 1,200 crore in the bank, according to Aggarwal, founder, Ola ElectricOla Electric, once the market leader in India's electric two-wheeler segment, fell to third position in May, ceding ground to legacy rivals TVS Motor and Bajaj Bhavish Aggarwal-led company's market share dropped to 20% during May 1–26, down from 22.1% in April, and a sharp decline from over 50% just 13 months ago. Registrations fell to 15,221 units—nearly 60% lower than the 37,388 units logged in May Electric's slump comes amid a broader sector slowdown and growing internal challenges, including regulatory scrutiny, operational inefficiencies, and concerns over after-sales service. The firm is also under investigation over discrepancies between reported and actual vehicle latest figures stand in sharp contrast to CEO Aggarwal's ambitious goal of 50,000 monthly unit sales, which is necessary to achieve breakeven. Earlier this month, Ola Electric approved raising up to Rs 1,700 crore through debt instruments—its first funding move since its initial public offering (IPO) in August 2024. The company's shares continue to trade below the Rs 76 issue price, closing at Rs 52.49 on intensifying competition and declining customer trust, Ola Electric faces an uphill task in regaining lost 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 intelligence (AI) companies are now prioritising profitability after slashing prices by 65–90% last Anthropic, Meta, and Google are releasing new AI models at roughly flat or even higher rates. The cost of intelligence may decline, albeit at a slower pace, as companies are no longer rushing to train new models. This spells trouble for startups that depend on these models.'AI companies may not have reached an optimum pricing point but to a point where reduction in pricing is appearing to slow down,' said Naga Santhosh Josyula, cofounder of vibe coding platform price pressures, however, have led to several Indian startups struggling to scale AI applications, invest in R&D, and pass on cost savings to customers, ultimately causing them to depend on external funding.'Running production-grade agents at scale isn't cheap, and it impacts pricing strategies, performance tuning, and R&D investment decisions,' said Somit Srivastava, chief technical officer (CTO) wealthtech firm Startups need to be 'smart about AI usage,' either through model routing, hybrid stacks, or targeted agents, rather than waiting for prices to fall. TableSprint's Josyula said his company is reducing costs by using smaller or optimised models.A US court has asked both Infosys and Cognizant Technology Solutions to attempt to resolve the case by oral agreement . Failing to do this, they can 'seek an informal telephone conference with the court to attempt to resolve' the conflict, the bench Stays Ltd, the parent company of hospitality startup Oyo, is set to formally review proposals from merchant bankers next week as it prepares for a fresh attempt at an initial public offering (IPO), targeting a valuation of $5–7 billion, according to multiple people familiar with the Naukri parent saw its net profit rise to Rs 678 crore in the March quarter from Rs 88 crore on reclassification of a joint venture investment as financial investments and long-term capital gains tax rate change. Operating revenue increased 14% to Rs 750 crore during the aggregator BlackBuck owner Zinka Logistics saw a 31% year-on-year (YoY) increase in operating revenue, reaching Rs 121.8 crore, up from Rs 93.2 crore a year ago. It posted a net profit of Rs 280 crore , compared to a net loss of Rs 90.7 crore in the same quarter last Gurgaon-based firm raised Rs 113 crore in a funding round led by existing investors Indiamart Intermesh and Beenext (through its Accelerate Fund).Frinks AI has raised $5.4 million in a round led by Prime Venture Partners, along with Chiratae Ventures, as well as new investors Navam Capital and Zen Technologies founder Ashok startup Contineu has secured $1.2 million in a seed funding round led by SenseAI Ventures, with participation from Piper Serica Angel Fund.■ Google CEO Sundar Pichai on the future of search, AI agents, and selling Chrome ( The Verge ■ The math tutor and the missing $533 million ( Rest of World ■ WordPress has formed an AI team ( Techcrunch
Time of India
23-05-2025
- Automotive
- Time of India
Top-deck churn at Tata Digital; Rapido's cash burn rises
Top-deck churn at Tata Digital; Rapido's cash burn rises Want this newsletter delivered to your inbox? Also in the letter: ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm New gig: Uphill task: Also Read: Striking out: Laying down strategy: Refocused efforts on core consumer brands like Croma and Tata Cliq. Paused backend integration of BigBasket, 1mg and Tata Cliq to improve the Neu user experience. Approved 1mg's offline expansion. Top deck churn: Rapido hits $1.25 billion in gross order value for FY25, but cash burn accelerates Why it matters: By the numbers: 3–3.5 million daily orders across all segments, including hyperlocal logistics 40% market share across ride-hailing form factors Cash burn narrowed to Rs 17 crore in Q2 FY25, but is now climbing again Four-wheeler service launched in December 2023; currently expanding Between the lines: Flashback: 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: Ola Electric gets board nod to raise Rs 1,700 crore debt Driving the news: Mounting troubles: Other Top Stories By Our Reporters Shortlisted bidders clear IndiaAI GPU tender technical round: Bengaluru downpour hits online deliveries: Krafton backs hyperlocal community app Shuru: IPO-bound InMobi doubles down on AI: Global Picks We Are Reading Happy Friday! Top-level exits continue at Tata Digital with CEO Naveen Tahilyani abruptly ending his year-long stint. This and more in today's ETtech Morning Dispatch.■ Ola seeks fresh funds■ Bengaluru rains woes■ InMobi's AI betL-R, N Chandrasekaran, chairman, Tata Sons and Naveen Tahilyani, former CEO, Tata DigitalIn a surprise move, Tata Digital CEO and MD Naveen Tahilyani resigned just a year after being handpicked by Tata Sons chairman N Chandrasekaran to lead the group's digital commerce insurance giant, Prudential PLC, announced that Tahilyani will join as regional CEO for India, Africa, the Philippines, Cambodia, Laos, and Myanmar, and will also head the company's health at Tata Digital, finance chief Hardeep Singh Guru is tipped to take the top a Tata veteran and former CEO of Tata AIA Life Insurance, was brought in to enforce execution rigour, financial discipline, and strategic focus across Tata Digital's fragmented portfolio, which includes BigBasket, 1mg, Tata Cliq, and the Neu app. He was also tasked with reviving the struggling role diminished recently as the Tata Group prepared BigBasket and 1mg for independent fundraising and eventual IPOs. 'Tata Digital became less relevant as a consolidated unit, with plans to raise capital together falling through,' a source told joined as senior executives continued to exit. Since Myntra founder Mukesh Bansal's departure in 2022 , Tata Digital has experienced multiple leadership changes, including during Tahilyani's tenure.L-R, Rishikesh SR, Aravind Sanka, Pavan Guntupalli, founders, RapidoUrban mobility startup Rapido has increased its gross order value (GOV) by 2.5 times (2.5x) to $1.25 billion in FY25, up from $500 million the previous year, according to people familiar with the surge is attributed to new service offerings and aggressive city-by-city expansion. However, this growth is also pulling the company further from profitability, with monthly cash burn increasing to Rs 40-45 crore this year.'The burn is likely to increase further as Rapido steps up customer acquisition in ride-hailing and prepares to launch its food delivery vertical,' an investor aware of the developments told is steadily eating into Ola's market share in the car-hailing segment while preparing to enter food delivery . Unlike its rivals, Rapido follows a subscription model for drivers, which helps it avoid the higher burn associated with commission-based company raised $200 million in 2024 in a round led by WestBridge Capital, followed by another $30 million from Prosus in early 2025, giving it a valuation of $1.1 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 Agarwal, founder, Ola ElectricOla Electric Mobility has received board approval to raise up to Rs 1,700 crore through non-convertible debentures (NCDs) and other eligible debt marks Ola's first fundraise since its stock market debut in August of last year. It comes amid mounting regulatory scrutiny, falling share price, and shrinking market share. The electric scooter manufacturer has not disclosed how it plans to use the Electric is currently under the regulator's lens over alleged sales discrepancies, vehicle quality concerns, and the lack of trade certificates at several retail to its woes, the company ceded its market leader position in electric two-wheelers to TVS Motor last seven shortlisted companies—NTT-Netmagic, Cyfuture India, Sify Digital Services, Vensysco Technologies, Locuz Enterprise Solutions, Yotta Data Services, and Ishan Infotech—have passed the technical round of IndiaAI Mission's second GPU rainfall and widespread waterlogging in Bengaluru earlier this week disrupted swift commerce and food delivery services across the city, leading to numerous order cancellations and non-deliveries in dozens of pin India has led a funding round in Indore-based hyperlocal community platform Shuru, marking its latest push into the country's broader digital ecosystem beyond InMobi plans to invest $200 million in the AI commerce platform Glance AI and its generative AI ad tech stack as it prepares to list on Indian bourses.■ DOGE used Meta AI model to review emails from federal workers ( Wired ■ DJI drones are everywhere. The US may still ban them ( Rest Of World ■ The wild story of how gut health AI toilet startup Throne raised $4M led by Moxxie ( TechCrunch
Time of India
21-05-2025
- Business
- Time of India
Fintechs lose loan steam; Google's AI platform shift
Fintechs lose loan steam; Google's AI platform shift Also in the letter: Listed fintechs feel the pinch of lenders going slow on unsecured lending Measuring the impact: Paytm parent One97 Communications saw personal loan disbursals drop to Rs 1,422 crore, down from Rs 1,746 crore in the December quarter. Mobikwik's revenue from financial services fell 28% to Rs 402 crore in FY25, compared to Rs 558 crore a year earlier. Paisabazaar distributed only 517,000 credit cards, one of its key products, compared to 583,000 a year back. Tell me why: Impact on biz: Unsecured consumer loans scaled rapidly, offering quick growth for valuation-hungry fintechs. Some players have come under pressure on contribution margins. Fintechs are doubling down on their core payments businesses to extract maximum value. To reignite growth, many are now shifting focus to secured lending, offering products like loans against property, gold loans, home loans, and others. Sundar Pichai sees platform shift as AI brings tech research to life New launches: Google on Tuesday rolled out AI-powered search in the US, featuring advanced reasoning capabilities An updated version of Gemini 2.5 Flash will be available from June, announced Demis Hassabis, CEO of Google DeepMind Technologies. Pichai also confirmed that Google will expand Gemini to over 200 countries and territories. Google's AI bet: Committed $75 billion to building AI data centres Integrated AI across its entire suite of products and services Quote, unquote: 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: Other Top Stories By Our Reporters Mid-tier IT poised to win big AI market share, says Sonata CEO: Nazara Technologies buys game publisher Curve Games: Former partners target raising Rs 250 crore corpus with early-stage fund: Global Picks We Are Reading Happy Wednesday! Digital lenders bore the brunt of the unsecured lending slowdown last fiscal. This and more in today's ETtech Morning Dispatch.■ Changing AI market paradigm■ Nazara's latest buy■ 247VC unveils its India-focussed fundA sharp slowdown in unsecured loan disbursals by banks and non-banking finance companies has weighed on the FY25 performance of listed fintech financial institutions are treading cautiously in the unsecured personal loan segment. Rising defaults and the RBI's hawkish stance on consumer lending have made them wary of fintech partnerships. Instead, banks are now looking to leverage fintechs for their technology infrastructure rather than loan Pichai, CEO, GoogleArtificial intelligence (AI) has 'brought decades of research within reach of people , businesses and communities around the globe', said Sundar Pichai, CEO of Google and Alphabet, at the Google I/O developers' its competitors, Google has been investing significantly in AI. It has:"In our biggest markets, like the US and India, AI overviews are driving over 10% growth in the types of queries that show them. And what's particularly exciting is how this growth increases over time. It's one of the most successful launches in search in the past decade," said 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 Dhir, CEO, Sonata SoftwareMid-tier software service companies are emerging as alternatives for their fatigued large-cap peers to accelerate modernisation and artificial intelligence (AI) projects, said Samir Dhir, chief executive officer at Sonata Technologies has acquired UK-based PC and console game publisher Curve Games for Rs 247 crore, marking its biggest international acquisition to venture capital (VC) firm 247VC, founded by former cofounders Yagnesh Sanghrajka and Shashank Randev has launched its first India-focused fund with a base corpus of Rs 200 crore and a green shoe option of Rs 50 crore.■ A billion streams and no fans': Inside a $10 million AI music fraud case ( Wired ■ What it's like to interview for a job at DOGE ( Wired ■ How phony job ads on Facebook and Telegram lure tech workers to scam compounds ( Rest of World
