Swiggy’s losses nearly doubled to ₹1,081 crore in Q4 FY25, driven largely by aggressive spending in its quick commerce arm, Instamart. Despite the cash burn, revenue jumped 45% year-on-year to ₹4,410 crore.
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Tag: india
India Doubles Credit Guarantee for Startups, Slashes Fees for Key Sectors
India’s DPIIT has revamped its Credit Guarantee Scheme for Startups, doubling the credit limit from ₹10 crore to ₹20 crore and offering up to 85% guarantee coverage for smaller loans. Startups in 27 priority sectors will also benefit from reduced fees.
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India Blocks 1,298 Betting and Gaming Sites to Curb Online Risks
The Indian government has blocked 1,298 online betting and gaming sites since 2022 to curb addiction and illegal activities. Updated IT rules now hold gaming platforms accountable for harmful content. Authorities can block content threatening security or public order, ensuring a safer digital space. The move follows growing concerns over online gambling and financial risks.
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India’s Healthcare Boom Draws $30B in Investments
India’s healthcare sector is thriving, with over $30 billion in deals from 2022-2024, led by a $6 billion hospital investment surge in 2024. Big mergers, like Aster DM’s $5 billion deal, and AI innovations are driving growth, though rural access gaps and bed shortages remain challenges, per Grant Thornton’s report.
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Tesla Signs First Lease in India for Mumbai Showroom
Tesla’s finally rolling into India! They’ve signed a five-year lease for a showroom in Mumbai’s Bandra Kurla Complex, starting February 2025. The 4,003-square-foot space costs $446,000 in rent for the first year. After delays from regulations and infrastructure woes, Tesla’s back to spark India’s EV scene in one of the world’s hottest car markets.
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Google Introduces ‘Circle to Search’-Style Feature for iPhone Users
Google is rolling out an exciting new screen search feature for iOS users in the Chrome and Google Search apps, which is akin to Android’s “Circle to Search.” Now, users can search what’s on their screen by drawing, highlighting, or tapping with Google Lens. Plus, AI Overviews are set to expand to more Google Lens results, giving quick information summaries at a glance. Both of these updates will be available worldwide starting this week.
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Mira Murati’s Thinking Machines Lab Aims to Reshape AI
Mira Murati, who previously served as the CTO at OpenAI, has started a new AI company called Thinking Machines Lab. This initiative is all about developing AI systems that are more accessible, customizable, and powerful. The goal is to connect the cutting-edge capabilities of AI with what the public can truly understand. Thinking Machines Lab plans to create multimodal systems that are not only collaborative but also tailored to fit individual user needs, all while prioritizing safety to help prevent misuse. Murati has brought in top talent from OpenAI, Google DeepMind, and other prestigious firms. They’re currently on the lookout for more hires and there’s buzz that they might be in the process of raising substantial venture capital.
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OpenAI Rejects Elon Musk’s $97.4 Billion Bid
OpenAI has unanimously rejected Elon Musk’s $97.4 billion offer to acquire its nonprofit arm, reaffirming that “OpenAI is not for sale.” CEO Sam Altman dismissed Musk’s bid as an attempt to slow down OpenAI, calling him “insecure” and urging him to compete by building a better product.
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Ronnie Screwvala: No Edtech Company Is IPO-Ready Today
Despite a wave of IPOs in India’s startup ecosystem, edtech remains absent. PhysicsWallah’s upcoming IPO is drawing attention, but upGrad’s Ronnie Screwvala warns the sector lacks maturity and profitability. He stresses sustainable growth, outcome-based learning, and the need for contraction over consolidation before edtech companies go public.
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ePlane Company Lands $1B Deal to Deliver 788 Air Ambulances
The ePlane Company and have signed a $1 billion deal for 788 eVTOL air ambulances. Aimed at enhancing India’s emergency medical services, the e200x will enable faster patient and organ transport, bridging urban-rural healthcare gaps. ICATT has completed 2,348 airlifts, with plans to expand further.
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