Google Is Planning to Invest in BharatGPT - Indian Startup News 185

00:00 Google Is Planning to Invest in BharatGPT
01:31 Bhavish Agarwal’s latest AI startup Krutrim Si Designs
02:03 Is Sharechat slowly dying?
03:50 Byju’s troubles
05:06 50,000 bike taxi drivers left jobless in Delhi
06:47 Warren Buffet exits Paytm at a loss
07:36 Funding news

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Google Is Planning to Invest in BharatGPT:

1. Google is reportedly planning to invest 4 million dollars into another Indian generative AI startup (headquartered in the UK) CoRover.ai.
2. The company is building what they are calling BharatGPT.
3. BharatGPT is trained on indigenous large language model (LLM) that helps them support more than 12 Indian languages as well as 120+ foreign languages.

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Bhavish Agarwal’s latest AI startup Krutrim Si Designs:

1. Krutrim Si Designs which has recently raised 24 million dollars.
2. It is also working on its own version of chatbot for Indian users.
3. Bhavish is taking inputs from his followers on X - for the features and capabilities they want in the app. And he will be giving away an Ola S1X+ to anyone whose idea is judged the best.

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Is Sharechat slowly dying:

1. Sharechat was last valued at 5 billion dollars and has raised a total of 1.7 billion dollars.
2. But that might still not be enough for them to survive.
3. Despite raising that much capital and building a huge user base, Sharechat has failed to monetise.

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50,000 bike taxi drivers left jobless in Delhi:

1. Delhi’s Lieutenant Governor approved the “Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme 2023”
2. "To transition all commercial delivery vehicles used by e-commerce, logistics and aggregator companies to electric vehicles by the year 2030. "
3. Even though this is great news for the city and its pollution levels, according to Delhi’s Bike Taxi Union, this decision will leave more than 50,000 bike taxi drivers jobless.

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Warren Buffet exits Paytm at a loss:

1. Back in 2018, Warren Buffet’s Berkshire Hathway had invested 2,179 crore rupees for 2.46% stake in Paytm.
2. They had bought Paytm shares at an average price of 1,279.7 crore rupees. His company had sold shares worth 301.7 crore rupees during Paytm’s IPO priced at 2,150 rupees per share.
3. last Friday, Berkshire Hathway decided to sell off its remaining stake in Paytm - which was worth 1,371 crore rupees.

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Funding news:

1. Throughout the month of November, Indian startups collectively raised 400.16 million dollars across 53 deals.
2. The biggest funding round was raised by Pune-based logistics startup XpressBee, which had raised 80 million dollars in their series G.
3. Followed by fintech startup InCred which raised 60.15 million dollars in their series D to become India’s second unicorn for 2023.
3. Then we have quick commerce startup Zepto, which raised 31.25 million in their extended series E round.
4. This week, Indian startups raised a total of 58.67 million dollars.
5. We have Pune-based electric cycle startup EMotorad, which has raised 20 million dollars in their series B round.
6. we have another Pune-based startup PhiCommerce, which offers omnichannel payment solutions, has raised 10 million dollars in their series A round.
7. Next, we have cannabis-based medicine startup HempStreet, which has raised 1 million dollar in their pre-series A round.
8. And finally, we have alternate investment platform SustVest, that let’s you invest in renewable energy projects for a return, has raised 250,000 in their seed round.

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