AI funding, $10B investment, Swiggy ESOP, Adani port, Ashok Leyland, Apple, AMD, etc.

Author

Vaishali Sharma
July 16, 2024

From Startups to Giants: Covering All of India's Business in Less than 5 Minutes

Market Briefs

Main Briefs

AI Investment in India Dips Sharply as Global Funding Surges

  • AI startup funding in India fell to $8.2 million in April-June, a 91% sequential and 82% year-on-year decline.

  • Previous quarters saw a 110% sequential growth and 56% increase in December 2023.

  • AI startups made up only 0.3% of the $3 billion overall tech startup funding in India for the June quarter.

  • Global AI funding remains strong, with US AI startups receiving $27 billion in the same period.

  • Calendar year-to-date, Indian AI startups raised $96 million, a 61% increase over 2023 but an 82% decline from the first half of 2022.

  • Challenges include market volatility, high infrastructure costs, and competition from global tech companies.

  • Investors maintain a bullish outlook on AI, seeing it as a major investment theme despite current challenges.

  • Notable Indian AI startups funded this year include Krutrim ($50 million) and Neysa ($20 million).

Temasek Commits to $10 Billion Investment in Indian Market Over Three Years

  • Temasek plans to invest $2-3 billion annually in India over the next two to three years.

  • The firm aims to invest $10 billion in India, driven by strong returns compared to China.

  • Temasek has invested $37 billion in India over the past 20 years.

  • India now represents 7% of Temasek's global portfolio, up from 4% in 2020.

  • Temasek's record investment in India was $3 billion in 2023.

  • India's high valuations are seen as justified by its growth potential and maturing financial markets.

  • Temasek supports portfolio companies in India, including those planning IPOs like Ola.

  • Temasek's healthcare investments are transitioning from Sheares Health directly to Temasek.

Indian Briefs, You Can’t Miss:

  1. Auto Retail Sales Skyrocket 9% in Q2: FADA Reports.

  2. Ashok Leyland Lands ₹981 Crore Maharashtra Transport Order.

  3. AC Demand Soars: Industry to Double by 2028, Says Blue Star.

  4. Mass Hiring: TCS to Onboard 40,000 Freshers This Year.

  5. Swiggy Rolls Out $65 Million Employee Stock Plan.

  6. Japan’s SoftBank Finalizes Paytm Exit with 1.4% Stake Sale.

  7. Q1 Success: Angle One Net Profit Up 32% to ₹292.72 Crore.

  8. Adani to Develop Port in Vietnam, Seeking Trade Expansion.

  9. 33% Surge in Apple’s India Sales as China Focus Shifts.

  10. Zomato's Rally Makes Deepinder Goyal India's Newest Billionaire.

  11. India’s Digital Payment Market to Double to $7 Billion by 2030.

  12. Food Delivery Giants Zomato, Swiggy Raise Platform Fees by 20%.

  13. States Mull Home Liquor Delivery Through Swiggy, BigBasket, Zomato.

World Briefs

  • Apple Bets on AI, Plans Major iPhone 16 Production Boost.

  • Goldman Sachs Reduces China’s 2024 Growth Estimate to 4.9%.

  • Apple’s iOS 18 Public Beta Released.

  • Trump’s Facebook, Instagram Restrictions Lifted Ahead of Election.

AI Briefs

  • AMD Boosts AI Capabilities with New Ryzen, EPYC Processors.

  • GPT-4.0 Under Fire: OpenAI Staff Report Safety Lapses.

  • Google DeepMind’s Gemini 1.5 Pro AI Robots Show New Capabilities.

Company Of The Day

Company Name:  Varun Beverages

  • Founder: Ravi Kant Jaipuria

  • Year Of Foundation: 2016

  • Headquarter: Gurgaon, Haryana, India

  • Industry:

    This is one of the largest franchisees in the world (outside the US) of carbonated as well as non-carbonated beverages sold under brands owned by Pepsi.

  • Why Is It in the News?

    Varun Beverages is planning to set up production plants for PepsiCo in Zimbabwe, Zambia.