Cred's Garage Launch🚗, MeitY's Gaming Standoff🎮
Consumer Internet's Fee Shift, Saregama's Content Play, OpenAI's ChatGPT Internet Revolution, Funding Deals and more.
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Tech Updates
🚗 Cred Launches Garage: Your Vehicle’s Best Friend! 🧰
Cred introduces Garage, your all-in-one solution for car needs! This one-stop platform lets you renew insurance, recharge FASTags, and offer 24/7 roadside assistance. Plus, access essential documents hassle-free.
🎮 MeitY Holds Off Gaming SRB, Awaits Consensus 🤝
The Ministry of Electronics and IT (MeitY) is pressing pause on the formation of a Self-Regulatory Body (SRB) for the gaming industry. Senior officials reveal they're awaiting alignment from key ministries, including law, finance, and home, before moving forward. 🕹️🤞
💸 Consumer Internet Companies Opt for Fixed Fees🛒
In the world of consumer internet, fixed cash per transaction is the new norm. Many platforms are embracing this trend, imposing flat fees on every order or booking. The move aims to enhance unit-level economics, marking a significant shift in the industry’s strategy. 💳📈
🎶 Saregama Strikes a Chord with Pocket Aces Acquisition🃏
Music label giant Saregama is set to acquire a majority stake in digital content producer Pocket Aces, backed by Peak XV, for a sum of Rs 174 crore. This strategic move values Pocket Aces at a significant Rs 334.6 crore. With this acquisition, Saregama gains access to a wealth of intellectual property and a vast distribution network boasting over 95 million followers. The synergy promises to boost Saregama's music library, targeting the dynamic 18-35 age group. 🌟🎥
🚀 OpenAI's ChatGPT Evolves: Real-Time Internet Browsing Unleashed!🤖
OpenAI's ChatGPT has reached a groundbreaking milestone: it can now browse the internet on the fly! In an exciting update, OpenAI announced that ChatGPT is equipped to fetch real-time information from the vast realm of the internet. This means users can engage with ChatGPT not just for insightful conversations, but also to get instant updates on current events, sports, entertainment, and much more.🌐💬
Funding Deals
Coffee chain firm Third Wave Coffee has raised $35 million in a Series C round led by homegrown private equity firm Creaegis. Existing investors WestBridge Capital and Udaan’s cofounder Sujeet Kumar have also participated in the round.
Digital healthcare platform Clinikally has raised $2.6 million in a new round from Y Combinator, Tribe Capital, Goodwater Capital, Sequoia Scout Fund, and Rebel Fund.
Deep tech startup oorja has secured $1.5 million in a pre Series A funding round led by Micello Fund along with participation from Capital-A, Java Capital, Anicut Capital and Lead Angels.
Business-to-business marketplace MyMandi has picked up Rs 10 crore through compulsory convertible debentures (CCD) led by Real Time Angel Fund which is a SEBI-registered angel fund.
Home decor brand DecorTwist has raised $250,000 in a seed round led by angel investor Adhvith Dhuddu.
D2C fashion and lifestyle brand Styched has acquired Zymrat, a performance wear brand in a cash and equity swap deal, alongside an acquihire of the Zymrat team.
Tweet of the day🐥
“The body should be treated more rigorously, so that it may not be disobedient to the mind.”
— Seneca
Thanks for reading till the end!