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The Latest Breaking News from ET

Flipkart revamps Shopsy to take on Meesho, Amazon Bazaar in value commerce segment

Shopsy has over 450 million app downloads and delivers across more than 20,000 pin codes, but did not disclose its annual transacting users or order volumes. The company also declined to comment on specifics.

The Economic Times

Lights, cameras, aliens: meet the all-star cast of Steven Spielberg’s Disclosure Day

Find out what we know about the characters at the heart of this summer’s blockbuster from a master of the genre

The Guardian - UK

US firm ContentNexus files patent suit against Wipro

A US patent holder has sued Wipro in a federal court. The company alleges Wipro used patented technology without permission. This involves two patents related to signal processing. ContentNexus LLC filed the complaint. They seek damages and a jury trial. Wipro has not yet responded to the lawsuit. The patents…

The Economic Times

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OpenAI goes all out to charm Indian coders

OpenAI personnel are spending more time in India to understand the ecosystem and offer products and services that fit the market. Their concentration on India comes at a time when the coding war is heating up and OpenAI is trying to expand its enterprise and developer-focused offerings globally, people aware…

The Economic Times

Shastra VC launches $100 million fund to back deeptech, AI startups

The Bengaluru-based firm said the new vehicle will invest between $500,000 and $3 million in IP-led firms across these sectors. The launch marks a scale-up for the investor, formerly known as Veda VC, which deployed around $55 million across its first two funds.

The Economic Times

Healthtech unicorn Innovaccer acquires CaduceusHealth amid AI push

The Caduceus acquisition will add nearly 200 employees to Innovaccer’s rolls and open up a new avenue for the company in revenue cycle management, cofounder Abhinav Shashank told ET. Currently, the company unifies fragmented data from legacy hospital systems into a single cloud platform.

The Economic Times

Of kitchens & cosmetics: Snabbit forays into beauty services after home cooks

Instant house help platform Snabbit has launched a salon-at-home offering, connecting customers with beauty professionals within minutes. Piloted successfully in Bengaluru, the service aims to provide convenience and speed, competing with established players like Urban Company. This expansion follows a recent $56 million funding round.

The Economic Times

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Scapia secures $63 million funding from General Catalyst, Peak XV Partners and Z47

Scapia, a travel fintech startup, has secured $63 million in a funding round led by General Catalyst. Scapia plans to use the funds to expand its product portfolio across its financial services and travel segments. With this new infusion the total funding raised by the startup has gone up to…

The Economic Times

Meta, Amazon layoffs: A 60-day visa clock ticks for Indian laid off H-1B techies

Indian professionals on H-1B visas face immediate immigration pressure due to US tech layoffs. Losing a job triggers a strict 60-day grace period. Affected workers must find a new sponsor or change visa status within this limited time. Companies like Meta and Amazon are restructuring, impacting many sponsored employees.

The Economic Times

RBI's new draft guidelines have digital wallets feeling the pinch

Founders and senior industry executives told ET that the new draft guidelines released by the RBI on April 22, if implemented in the current format, could shut down multiple business opportunities for the payments industry, which is already grappling with revenue generation challenges.

The Economic Times

Desi chip companies fear MNCs will dip into their DLI 2.0 treat

India is planning the second phase of its semiconductor incentive scheme, DLI 2.0. Concerns are rising among domestic startups that allowing multinational corporations to join, even with minority stakes, could overshadow Indian firms. The government aims to balance foreign investment with domestic control to foster self-reliance in chip design.

The Economic Times

Waiting for your dream phone to get cheaper? That moment may never come

Smartphone prices are no longer dropping predictably. The demand for AI chips is causing component costs to surge. This means phones are launching at higher prices and staying that way. Budget phones are seeing downgrades to control costs. Consumers may need to buy when they need a phone, as big…

The Economic Times

Rs 10.9 lakh crore burden: Iran shock can take a load off India's back

Rising oil prices triggered by the Iran conflict are pushing India to accelerate its shift away from fossil fuels, with the government fast-tracking plans for ethanol adoption and commercial vehicle electrification to reduce dependence on imported crude and support the rupee. With crude imports estimated to cost Rs 10.9 lakh…

The Economic Times

Investment firm Oister Global launches Rs 500 crore ACE Fund III

Oister Global has launched ACE Fund III, a Rs 500 crore fund focused on startup secondaries. The fund targets late-stage, high-growth companies with strong unit economics and clear liquidity pathways, Rohit Bhayana, cofounder of Oister Global, told ET.

The Economic Times

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The Economic Times

Peak XV joins UK infrastructure startup Primer’s $100 million funding round

Peak XV Partners has joined a $100 million fundraise for global payments infrastructure startup Primer, marking another overseas investment for the Indian VC firm. The funding will accelerate AI investments and US expansion, where Primer expects significant revenue growth.

The Economic Times

Air India’s cabin glow-up is fighting the pressure of a brutal money heat

Air India is undergoing a significant fleet overhaul, investing $400 million in refurbishing cabins with new seats, entertainment systems, and branding across its domestic and long-haul aircraft. This transformation aims to reposition the airline as a globally competitive carrier, despite facing substantial financial losses and operational challenges due to geopolitical…

The Economic Times

Early-stage vertical commerce startups continue to draw VC interest across beauty, fashion, services

Investors are pouring money into quick commerce startups across fashion, beauty, and services. Companies like Firi, Dazzl, and Klydo are seeking substantial funding. This rush signals a focus on convenience driving profitability. VCs are backing these ventures, aiming to capture the next big player in various niche markets. The trend…

The Economic Times

UpGrad value pegged at $1.7 billion as Unacademy deal awaits CCI assent

UpGrad's valuation hit $1.7 billion, with a confidential report revealing projected profitability for FY26. The edtech firm plans to acquire Unacademy for Rs 2,055 crore, a fraction of its peak value. Aggressive growth is anticipated through acquisitions, international expansion, and new initiatives, supported by significant cost-cutting measures.

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The Economic Times

Automakers' joy ride hits a big cost hurdle

Rising input costs and freight charges, driven by the West Asia crisis, are pressuring automakers to increase vehicle prices. This surge in expenses, coupled with a depreciating rupee, threatens to derail the strong demand rally seen post-GST cuts. While sales have shown robust growth, companies face a dilemma between absorbing…

The Economic Times

AI spooks IT valuations; Groww promoters cut stake

AI has pushed valuations of India’s top IT firms to 2008-09 levels. This and more in today’s ETtech Top 5.

The Economic Times

Trading platform Trackk raises $3.7 million led by Lightspeed Ventures

Trackk, a stock trading platform for Gen Z investors, has secured $3.7 million in a funding round. Lightspeed Ventures led the investment. The platform uses AI for stock discovery and simplified trading. Trackk aims to expand its product offerings and marketing efforts with this capital.

The Economic Times

Unacademy’s test prep CEO Sumit Jain quits ahead of upGrad acquisition

Sumit Jain has stepped down from his role in Unacademy, ahead of a potential merger with upGrad Education. Jain, who joined Unacademy in 2020, will continue as an advisor. His departure follows the companies filing for merger approval with the Competition Commission of India.

The Economic Times

Gig workers' incentives cool; YC attendees resell AI credits

Happy Tuesday! Despite a shortage of delivery workers, payouts for gig riders have increased only slightly this summer. This and more in today's ETtech Morning Dispatch.

The Economic Times

Indian agentic AI companies hitting it out of park, raise $60 million in 2026

The momentum continues from last year, when investments in agentic AI startups nearly doubled to $144 million from $75 million in 2024, show data from Venture Intelligence. They raised $121 million in 2023.

The Economic Times

It’s a summer of discontent for delivery riders as incentives dip

Companies have limited payout increases to select high-demand micro-markets instead of implementing broad-based hikes this year. The pressure on rider earnings due to fuel price rise came into focus on Saturday when gig workers held a nationwide strike to demand higher payouts and a revised incentive structure.

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