Jio to launch ₹15k laptop💻; Cred launches Scan & Pay🤳🏻; TCS carves out new biz units📡

Jio to launch 4G enabled low-cost laptop, Cred launches UPI-linked payment feature, TCS carves out two new business units, Funding Deals and more.

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Oct 03, 2022

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Market Watch 📊:

US:

S&P 500 - 3,585.62 down 1.51%
Nasdaq - 10,575.62 down 1.51%

India:

Nifty 50 - 16,967.90 down 0.76%
Sensex - 56,940.30 down 0.80%

Reliance Jio to launch 4G enabled low-cost laptop at ₹15,000💻

Reliance Jio will launch a budget laptop priced at $184 (15,000 Indian rupees) with an embedded 4G sim card, aiming to replicate the success of its low-cost JioPhone in India's highly price-sensitive market, two sources told Reuters.

The Mukesh Ambani-led conglomerate has partnered with global giants Qualcomm and Microsoft for the JioBook, with the former powering its computing chips based on technology from Arm Ltd, and the Windows OS maker providing support for some apps.

The laptop will be available to enterprise customers such as schools and government institutes from this month, with a consumer launch anticipated within the next three months, sources said. As with the JioPhone, a 5G-enabled version will follow.

Cred launches UPI-linked payment feature Scan & Pay🤳🏻

CRED on Saturday launched Scan & Pay service that will enable its users to make UPI payments from their bank accounts linked to the CRED app, by scanning a QR code.

Cred users will get the opportunity to earn 2 times rewards on partner merchants, deals on marquee brands, cashback, and curated experiences on making payments through this option.

“CRED was built with the creditworthy in mind. The country’s top 1% have set the stage for how India consumes and we believe they deserve an experience that celebrates their contribution," said Kunal Shah, founder, CRED.

Neo-banking crypto startup Juno has raised $18 million as a part of its latest round of funding, led by crypto-native investment firm, ParaFi Capital’s Growth Fund.
Cloud kitchen brand Rebel Foods, which turned unicorn last year, has raised Rs 75 crore or $9.22 million in venture debt from Alteria Capital.
Supply chain visibility company Four Kites announced a $10 million investment from Mitsui & Co, Ltd to expand FourKites’ offerings across the APAC region.

Funding Deals

TCS carves out two new telecom, 5G business units📡

TCS has carved out two new business units dedicated to telecom and 5G solutions led by industry veterans.

The company has created network solutions and services unit (NSS), under the communications and media vertical, to cater to 5G rollout and engineering solutions led by Vimal Kumar.

It has also created a cognitive enterprise network unit (CEN), within the enterprise growth group, to offer intelligent net-work management solutions led by Satya Pitta.

TCS is also in the final stages of closing a potential $2 billion (around Rs 16,000 crore) 4G network rollout deal with state-run telecom operator BSNL. The deal will also help the Tata Group consortium of TCS and Tejas Networks to take their 5G rollout offerings to global telecom operators.