Adobe launches Firefly🔥, Ola Electric plans to raise $250 Mn🛵, ASP up 18%🦄
Adobe launches generative AI model, Ola Electric in talks to raise $250-300 Mn, Average smartphone selling price in India up 18%, Funding Deals and more.
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Adobe launches generative AI model Firefly🔥
Global software giant Adobe on Tuesday announced the beta launch of its new generative artificial intelligence model Firefly.
Firefly allows users to use words to describe images, illustrations, or videos that its software will create.
Because the AI has been trained on Adobe Stock images, openly licensed content, and older content where the copyright has expired, the resulting creation is safe for commercial use, Adobe said.
Firefly will be available for use in other products offered by the company such as Creative Cloud, Document Cloud, Experience Cloud, and Adobe Express.
Ola Electric in talks to raise $250-300 million in fresh funding round🛵
Bhavish Aggarwal-led Ola Electric is in talks to raise a fresh round of $250-300 million in growth equity to expand two-wheeler operations and fund its planned battery facility.
Ola Electric raised $200 million in January last year from investors such as Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others at a $5 billion valuation.
The company is expecting an up round that may see its valuation go up to $6.5-7 billion, based on the expectation of turning EBITDA positive from FY24.
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Fresh farm produce and supply chain startup Sorted has raised over $5 million in its ongoing seed funding led by Beenext, White Venture Capital and NB Ventures.
Unlearn.AI, which has built a machine learning platform that creates "digital twin" profiles of patients in clinical trials, has raised $15 million from Radical Ventures and Wittington Ventures.
Average smartphone selling price in India up 18% in 2022📈
Premium smartphones from Samsung and Apple made a significant contribution to the 18% increase in the average selling price (ASP) of smartphones to $224 in 2022, according to data from IDC India. A rough increase in dollar value of 30% also aided this growth.
Apple’s iPhone shipments grew to a record 6.7 million units in 2022, up from 4.8 million in 2021, with an average selling price of Rs 80,000, the highest in the industry, as per the data.
At the same time, Samsung shipped 26.1 million units, at an ASP of $350 (Rs 28,000), indicating that the brand’s success was primarily in the mid-tier segment.
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The shell must break before the bird can fly.
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