Author: TechBrunch
Zepto is in advanced stages of talks to raise $100 million in new investment, the third time in the past six months as India's leading quick commerce startup looks to attract more domestic investors. , a source familiar with the negotiations told TechCrunch. The Mumbai-headquartered startup, which delivers groceries and office supplies to customers' doorsteps within 10 minutes across multiple Indian cities, is attracting new investment from Indian family offices and wealthy individuals. . Asset management giant Motilal Oswal, who previously invested $40 million in Zept, is in charge of deliberating the new funding, the sources said, asking not to…
Global venture firm Accel is in talks to lead a $30 million to $40 million funding round for Indian online pharmacy TrueMeds, six sources said. It is focused on providing customers with more affordable generic alternatives to brand-name drugs. . Discussions are currently centered on a proposal to value the six-year-old Mumbai-headquartered startup at about $330 million, the person said, but the discussions are ongoing and private. Therefore, he requested anonymity. The deal has not yet been finalized and may not yet materialize or its terms may change, the people cautioned. Axel and TrueMeds did not respond to requests for…
Can today's AI models really remember, think, plan, and reason like the human brain? Some AI institutes may believe so, but Meta According to Yann LeCun, Chief AI Scientist at , the answer is no. But he thinks they could get there in about 10 years by pursuing a new approach called the “world model.” Earlier this year, OpenAI released a new feature called “Memory” that allows ChatGPT to “remember” conversations. The startup's latest generation model, o1, displays the word “think” while generating output, and OpenAI says the same model is capable of “complex inference.” This alone makes it seem…
In 2011, the world held its breath when Japan was hit by a magnitude 9.0 earthquake and tsunami, and Japan's Fukushima Daiichi nuclear power plant suffered a cooling system failure. That worry was not unfounded. The resulting meltdown spread highly concentrated radioactive material in many directions, making it one of the worst nuclear-related disasters in history. More than 10 years later, cleanup efforts are still continuing. Last month, the Japanese government began test procedures to remove radioactive material in and around the nuclear power plant, an important step in the plant's decommissioning process, which is expected to be completed by…
CapWay, a Y Combinator-backed fintech that sought to bring financial services to people in so-called “banking deserts,” has shut down, according to founder Sheena Allen. Allen wrote about it on LinkedIn and confirmed it to TechCrunch. “I am proud of the work we were able to accomplish, but I am honestly disappointed that we were not able to complete the mission,” she wrote. “I feel strongly that there is still much work to be done in the area of financial inclusion, so this will not be the last you hear about me in the fight for economic equality.” Allen told…
Elias Torres has accomplished a lot for someone who immigrated to the United States from Nicaragua at the age of 17 with no command of English. He served as VP of Engineering at HubSpot before co-founding Drift, which he sold to Vista Equity in 2021 for approximately $1.2 billion. “It's very rare to get to this point, but we're not done yet,” Torres told TechCrunch. About a year ago, Torres (pictured above) founded Agency, an AI-powered startup aimed at automating tasks traditionally handled by customer success managers (CSMs). These experts provide personalized support to users of complex B2B software, from…
Apple on Wednesday announced an expanded set of tools to help businesses increase visibility on Apple's platforms through its free service Apple Business Connect. Launched last year, the online portal allows businesses to manage their presence across Apple's 1.5 billion devices in areas such as Maps, Siri, Spotlight search, Safari and Wallet. Now, business owners will be able to integrate their brand into other Apple products, including email, iPhone Tap to Pay, and Apple Phone apps. Additionally, the company says Business Connect opens its doors to all types of businesses, not just those with physical locations. Business Connect evolved from…
Hello everyone, welcome to TechCrunch's regular AI newsletter. If you'd like to have this sent to your inbox every Wednesday, sign up here. Last week, AWS lost a top AI executive. Matt Wood, Vice President of AI, announced that he is leaving AWS after 15 years. Mr. Wood has long been involved in the Amazon division's AI initiatives. He was appointed Vice President in September 2022, shortly before the launch of ChatGPT. Wood's resignation comes as AWS has reached a crossroads and risks being left behind in the generative AI boom. The company's former CEO Adam Selipsky, who resigned in…
Africa's blockchain and cryptocurrency space is receiving much-needed venture support at a tough time for startups, some of which are facing challenges such as a tough regulatory environment, macro policies, or outright mismanagement. Some companies have withdrawn from certain markets or closed down completely. The boost involves Yellow Card, a US-founded crypto platform that launched in Nigeria in 2019 and has since become Nigeria's most-funded cryptocurrency exchange. The company confirmed to TechCrunch that it has raised $33 million in Series C investment led by 10-year-old venture firm Blockchain Capital. The company's investments include Coinbase, Kraken, OpenSea, and most recently Worldcoin.…
If the FTC has its way, it will soon be easier to terminate your subscription or membership. Today, the U.S. Federal Trade Commission announced a final “click-through” that would require companies selling subscription-based products to “make it as easy for consumers to cancel their subscription as they signed up.” announced the “cancellation” rule. The rule, which was first asked for comment last year, applies to all auto-renewing subscriptions, from streaming services to gym memberships to payments for plans like Amazon Prime. Under this rule, businesses (including those offering free trials that incur charges if you don't cancel in time) cannot…