Berlin-based startup Synthflow has raised $7.4 million in a seed round to develop its no-code platform for AI voice assistants aimed at small and medium-sized businesses (SMEs). 🚀 Since founding last year, Synthflow has already raised 9. $1 million, highlighting investor confidence in generative AI applications.

Synthflow aims to help SMEs by offering a no-code interface for creating voice assistants. This allows non-specialized users to automate repetitive tasks.

Initially targeting English-speaking markets, Synthflow introduced German and French versions to penetrate European markets.

In the future, Synthflow plans to develop more complex capabilities, such as allowing voice AIs to collaborate by passing calls to other specialized AIs. This can significantly increase productivity for SMEs by effectively managing customer queries and escalating complex issues to human agents."

"🍏 Apple is introducing RCS support in iOS 18! This update will allow iPhone users to share texts and files with any device that supports RCS, including most Android phones. For now, RCS support is limited to US carriers, but Apple plans to expand it in the future. This is a step towards a single messenger long-awaited by iPhone and Android users#blockchain#crypto #technology"

OpenAI, a leading AI developer, has acquired Rockset, a company known for its real-time data discovery and analytics tools. This strategic acquisition will strengthen OpenAI's infrastructure, promising to deliver more powerful and intelligent AI applications. 🚀

Rockset, founded in 2016 by a team of former Facebook engineers, created tools to automatically collect data from various sources and index it for search and analytics purposes.

The acquisition of Rockset is part of OpenAI's broader strategy to invest aggressively in its enterprise segment. This could lead to more realistic AI models that are customized for specific business cases, potentially reducing errors and improving overall performance.

As OpenAI continues to innovate and expand its presence in the enterprise AI market, the acquisition of Rockset represents an important step in strengthening its position in AI technology.

"🚀 Elon Musk receives a record $56 billion pay package from Tesla shareholders, becoming the highest paid CEO in history. However, his award depends on the approval of a judge in Delaware.

On the other hand, Fisker Inc., known for its electric vehicles, filed for bankruptcy for the second time after facing software problems and vehicle recalls.

AI is actively developing in the technology world, Apple has joined the trend with a new visual image for “Intelligence”. AI detection startup GPTZero has raised $10 million from venture capitalists.

Finally, insurance startup Loop announced staff cuts, and Adobe was criticized for the difficulty of canceling subscriptions. At the same time, YouTube is stepping up its fight against ad blockers."

"The US is banning the sale of Kaspersky antivirus software due to security concerns. 🚫 The ban takes effect July 20, 2024, highlighting concerns about the company's possible links to Russian intelligence agencies. Current users are advised to immediately switch to other cybersecurity providers. After September 29, 2024, Kaspersky will no longer be able to will be able to provide software updates to American customers. The US government plans to help with the transition by creating a dedicated website and collaborating with various agencies."

Adobe has faced criticism after updating its terms of use to allow it to use user content to improve its services. Many artists took this as unlimited access to their work to train Adobe's artificial intelligence. 🎨 Despite Adobe's assurances to the contrary, there remains a high level of skepticism among artists.

Questions about the impact of AI on the creative industry continue to spark debate, with many artists demanding clearer regulatory action and more transparency from companies like Adobe.

Meta has suspended plans to use European user data to train its AI models following discussions with the Irish Data Protection Commission (DPC) and pressure from other EU data protection authorities. 🛑

- Reason: strict GDPR requirements
- Problem: dispute about the need for active consent of users to process data
- “Meta” reaction: disappointment, fears of slowing down European innovative development and AI development

The halt to AI's "Meta" training program highlights the tension between technological progress and privacy regulation.

Bengaluru-based fintech unicorn slice has secured $20 million in debt funding from Neo Asset Management. It's part of a broader $30 million debt round. 🚀

Earlier this year, slice received approval from the Competition Commission of India to merge with North East Small Finance Bank. This merger could give Slice a coveted banking license.

slice currently offers UPI payments, personal loans and prepaid bank accounts through its app. The company is valued at $1.5 billion.

Pending NCLT approval for the merger, slice is ready to expand its range of financial services with a new banking license."

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“The Asian Development Bank (ADB) is considering financing India's rapidly growing space sector, in line with its overall climate finance strategy and support for the Sustainable Development Goals (SDGs). 🚀 India, a founding member and fourth largest shareholder of ADB, since 2010 has become the bank's largest borrower. This review follows significant regulatory changes in the country, including the liberalization of the FII policy for the space technology sector and the release of guidelines for the implementation of the Indian Space Policy 2023."

🚀 The rise of women entrepreneurs in India! Finance Minister Nirmala Sitharaman noted the increase in the proportion of women in leadership positions:

- 2018: 13.8% of women in director positions
- Now: 18.3% and 20 out of 111 Indian unicorns are led by women

💼 Support for women entrepreneurs:

- 80% of Stand Up India funds are directed to women
- 10% of SIDBI fund is reserved for startups founded by women
- 70% of PM Mudra Scheme loans are allocated to women
- The government is required to purchase 3% of goods and services from women-owned businesses

🍽️ Swiggy's 'She The Change' initiative supports women entrepreneurs in the foodservice industry.

🚀 IRDAI has approved the creation of Bima Sugam - an online insurance marketplace in India! The goal is “Insurance for all by 2047.”

- Bima Sugam will become a universal solution for all participants in the insurance market
- The initiative aims to increase insurance penetration in the country
- Bima Sugam will be established as a non-profit company

The Indian insurtech industry is expected to grow! 🌐

🏏 Dream11 stormed into the 17th season of the Indian Premier League (IPL), attracting 1.1 million new users on the first day of the tournament! Basic moments:

- Platform for cricket fans: With TATA IPL, Dream11 offers a skill-based virtual game where users are rewarded for their cricket knowledge.
- Strategic Partnerships: Dream11 has partnered with eight IPL teams, increasing its appeal among cricket fans.
- Regulatory challenges: The company faces taxation challenges, reflecting debates in the real money gambling sector.
- Financial Growth: Dream11 continues to demonstrate strong financial performance by focusing on the Indian market.

Dream11's success at the launch of IPL 2024 highlights the importance of the platform in the fantasy sports industry and its connection with cricket fans.

🚀 Alphatron Capital closed its first fund at $30 million, exceeding the initial goal of $25 million by 20%. The firm will focus on investing in Indian startups in the SaaS, fintech, healthtech, AI/ML, digital content and D2C sectors. Alphatron has already invested in 11 funds, including Blume Ventures, 3one4 Capital, Chiratae Ventures and Speciale Invest.

🚀 Pocket FM is preparing to become a unicorn thanks to investments from ADIA! The platform is looking to strengthen its presence in the US and expand into the European and Latin American markets.

📈 Pocket FM shows impressive growth:
- Over 1 lakh hours of content
- US revenues exceed $100 million ARR

💰 The platform attracts investor interest due to its sustainable growth and high gross margins.

🎧 Pocket FM's success is attributed to its variety of content, including popular series that have earned over INR 100 crore.

📊 In FY23, Pocket FM India reduced losses by 56% YoY while operating income grew by 663% YoY.

📉 BYJU'S, the largest edtech giant, explained that 90% of its training centers will continue to operate in a hybrid model, the rest will undergo restructuring.

• Hybrid model: Most of BYJU'S offline centers will operate in a hybrid format to ensure continuity of educational services.

• Strategic restructuring: Some centers will undergo restructuring to improve efficiency and align with the company's strategy.

• Legal and financial problems: BYJU'S is facing a number of lawsuits, including disputes with the Enforcement Directorate and the BCCI.

• Management and financial reporting: BYJU'S investors are demanding the removal of CEO Byju Raveendran and criticizing delays in financial reporting.

🇮🇳 The Indian government plans to conduct a strategic review of the import management system for laptops and digital devices by September. The objective is to assess the readiness of manufacturers to establish or expand manufacturing bases in India.

🔍 The analysis will include:
- Import volume from October 2023
- Origin of products and components
- Availability of plans to develop production in India

💡 Possible relaxations and problems:
- Given the progress of companies, the government is considering easing import conditions for laptops, tablets and other equipment
- The main challenge is the creation of production of printed circuit boards (PCB) and surface mount technology (SMT)

🔧 Path to import adjustment:
- The introduction of restrictions on the import of IT equipment in August 2023 has caused concern among major players, including Apple, Dell, HP, Lenovo and ASUS
- The government extended the compliance period until November 1, 2023, which led to an increase in imports of IT equipment
- Reformed import management system facilitates authorization, ensuring smooth flow of supplies

🚀 Титан планирует внедрить свою ювелирную линию CaratLane в США в FY25, после успешного международного запуска бренда Tanishq в 2020 году.

- Расширение для диаспоры: Титан стремится удовлетворить растущий спрос среди индийской диаспоры за рубежом, открывая 40 магазинов Tanishq к концу FY25.
- Международный рост: Tanishq уже присутствует в Северной Америке, GCC и Сингапуре, открыв новые магазины в Хьюстоне, Далласе и Сингапуре.
- Омни-канальный CaratLane: с оборотом в INR 2,177 Cr в FY23, CaratLane готов к следующей фазе роста на рынке США.

🚀 Zomato launches 'Pure Veg Fleet' and 'Pure Veg Mode' feature on its app to cater to the needs of vegetarians in India.

- "Pure Veg Mode" offers a list of restaurants that serve only vegetarian food.
- Pure Veg Fleet will only deliver orders from these restaurants.
- The rollout of new features and fleet will occur over the course of several weeks.
- Zomato also plans to introduce specialized fleets for other customer needs.

📉 Cedar Capital closed the first round of its fintech fund for $30 million, attracting investors from India and the Middle East. Main directions:

• Banking sector
• B2B fintech
• Insurance companies
• NBFC
• Other financial services

The fund plans to support about 15 early-stage startups. Despite a 12% decline in fintech funding in India in Q4 2023, the fintech SaaS and credittech sectors continue to attract investors.