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Creators wielding AI reimagine creativity on a budget

Economic TimesEconomic Times · 1y ago
Creators wielding AI reimagine creativity on a budget
Medial

Indian music composer and playback singer, Anirudh Ravichander, has been using artificial intelligence (AI) to reimagine Bollywood songs through his YouTube channel AI Beats. He has reproduced popular Bollywood songs in the voices of different singers using a combination of publicly available open-source tools and his team's sound engineering skills. Another artist, Yashraj Mukhate, went viral for his AI mashup on Instagram. Other artists in various fields are also experimenting with AI to save costs associated with high-quality art production. Marketing agencies and ad-film makers are eagerly awaiting text-to-video models like OpenAI's Sora and China's Vidu AI, which could reduce the cost of shooting celebrity ad-films significantly. The adoption of AI-generated content in social media marketing has been on the rise, with influencers, photographers, and brand accounts using AI tools to create memes, short videos, and photos. The promise of lower costs, increased productivity, and more creative content in marketing and entertainment is enticing to executives. Some photographers have added "AI Artist" to their portfolios and have produced fully AI-generated ad films for brands, showcasing the potential of AI to experiment with new designs, cultures, locations, and models at minimal cost.

Bond market is set for a take-off

Money ControlMoney Control · 8m ago
Bond market is set for a take-off
Medial

The Indian financial market is experiencing a shift towards Non-Convertible Debentures (NCDs) as a means of raising capital. This move is driven by tightening lending norms and the need for diversified sources of funding. NCDs offer a way for companies to raise long-term funds outside of traditional banking limits and have been facilitated by the rise of Online Bond Platform Providers (OBPPs), which have increased accessibility to the bond market for retail investors. Additionally, the inclusion of Indian fixed income in global indices has increased demand for bond products, while the growth of the NCD market has broader implications for India's economic expansion and infrastructure projects. However, there are challenges to be addressed, such as category awareness and liquidity in the secondary market. Efforts to overcome these challenges will help solidify the role of NCDs in India's financial future.

Abound raises $14 Mn to boost cross-border finance for Indian Americans

EntrackrEntrackr · 3m ago
Abound raises $14 Mn to boost cross-border finance for Indian Americans
Medial

Abound raises $14 Mn to boost cross-border finance for Indian Americans Abound, the financial super-app designed for Indians in the US, has raised $14 million in a seed funding round led by NEAR Foundation, with participation from Circle Ventures, Times Internet, and others. This round marks Abound’s first external investment since its incubation at Times Internet, the digital arm of The Times of India Group. In July 2023, the startup raised $10 million from the Times Group to expand its remittance offering. The fresh funds will be utilized to expand its product offerings, enhance technology infrastructure, and grow the team across product, engineering, and growth, Abound said in a press release. Launched by Nishkaam Mehta, Abound is a unified platform where the community can earn rewards, send money home, and manage their finances—allowing users to send, spend, save, invest, and borrow across borders, all in one app. It selected NEAR as its blockchain foundation for its industry-leading scalability, efficiency, and resilience, enabling a seamless experience while maintaining the security and transparency users deserve. Abound claims to have already processed over $150 million in remittances and facilitated $87 million in rewards GMV, demonstrating significant traction. It also reports 50% month-on-month revenue growth over the past six months, with a user base exceeding 500,000. Abound aims to redefine what it means to be a financial platform for the Indian diaspora. While traditional banking services treat cross-border finance as an afterthought, Abound integrates remittances, rewards, and next-gen financial services into a digital-first consumer experience.

Dogsee Chew raises $8 Mn in Series B round

EntrackrEntrackr · 4m ago
Dogsee Chew raises $8 Mn in Series B round
Medial

Dogsee Chew raises $8 Mn in Series B round Natural pet treat brand Dogsee Chew has raised $8 million in its Series B round led by Ektha.com, with participation from promoters, Shivanssh Holdings, and Poddar Family Office. The brand has raised a total of $22 million in funding to date, including the current round. In January 2022, the startup raised $6.7 million in its Series A round, led by Mankind Pharma, along with existing investor Sixth Sense Ventures. The new funds will be used to scale up manufacturing capabilities by expanding existing factories and constructing a new production facility. The company also plans to strengthen its Amazon Global Selling strategy to drive growth in international markets and expand further into the United States and Canada in 2025. Founded in 2015 by husband-wife duo Bhupendra Khanal and Sneh Sharma, Dogsee Chew now has a presence in more than 30 countries. The startup claims to offer 100 percent vegetarian dog treats that are all-natural, human-grade, and protein-rich. "With the premiumization of the pet food category on the rise, the demand for our human-grade chews is exploding. This investment ensures we are well-prepared to meet this demand by scaling production and expanding our presence globally. To make our products more accessible, we also plan to open distribution hubs in key international markets, allowing our retail partners to seamlessly access Dogsee Chews with shorter lead times,” said Bhupendra Khanal. According to data intelligence platform TheKredible, Dogsee Chew’s revenue in FY24 stood at Rs 53.76 crore, compared to Rs 98 crore in FY23. The firm reported an almost flat loss of Rs 27.73 crore in the last financial year. The Bengaluru-based startup competes with brands such as Khanal Foods, Captain Zack, Fidele Dog Food, and others in the pet care segment.

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