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He left IIT to pursue B.Sc, sold startup for ₹255 Cr in 5 months
Internet
·
1y ago
Medial
Rahul Rai is an IIT dropout turned crypto entrepreneur, skyrocketing to success, and selling his startup for ₹255 Cr in just 5 months. Now co-heading Market Neutral at BlockTower Capital, Rai champions the potential of cryptocurrency, aiming to revolutionize decentralized finance. His journey exemplifies the rapid rise and boundless opportunities in the dynamic world of digital assets.
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PE investor Creador picks up minority stake in Hinduja Tech
VCCircle
·
1y ago
Medial
Hinduja Tech, the digital engineering arm of Hinduja Group, has sold a minority stake to Creador, a South and Southeast Asia-focused private equity firm. Creador will invest $50 million for a 19.6% stake in Hinduja Tech, valuing the company at approximately $255 million. Hinduja Tech plans to use the capital to pursue new opportunities in the sustainable mobility engineering sector and expand its global presence. In the fiscal year 2023, the company's operating revenue grew by nearly 54% to Rs 393 crore.
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29YO rickshaw puller from Bihar now owns a multi-crore startup
Internet
·
1y ago
Medial
Bihar's Dilkhush Kumar was a rickshaw puller before he started his taxi startup RodBez. Despite being uneducated, he dreamt big. Learning to drive from his father, he launched RodBez with a second-hand Tata Nano. Within months, his team raised ₹4 Cr. Now, he hires young IIT, IIM grads to push his vision of connecting every village in Bihar with taxis.
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John Schulman leaves AI startup Anthropic
Economic Times
·
6m ago
Medial
John Schulman, a co-founder of OpenAI, has left Anthropic, the AI startup he joined last year. The company's Chief Science Officer, Jared Kaplan, expressed support for Schulman's decision to pursue new opportunities. Schulman joined Anthropic to focus on AI alignment and hands-on technical work. Anthropic, a competitor of OpenAI, has reported significant revenue, offering AI models directly and through services like Amazon Web Services. Schulman's departure was initially reported by The Information.
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Retired techie teaches farmers how to grow saffron at home
Inshorts
·
1y ago
Medial
Ramesh Gera, from a farming family in Haryana, dreamt of revolutionising agriculture. Despite his father urging him to pursue a technical career, Ramesh remained curious about farming. He left tech after his wife's demise and founded Akarshak Vertical Farms in 2017. He now trains and empowers farmers in advanced techniques like hydroponics, microgreens, and indoor saffron cultivation.
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Indian founders are quitting at a rapid pace
Inc42
·
1y ago
Medial
Over 30 Indian startup founders and CEOs left their roles in 2023 amid challenges like the extended funding winter, economic pressures, and business restructuring. Notable exits include founders from Zomato, ShareChat, Teachmint, and ZestMoney, among others. Some stepped down for personal aspirations or to pursue new ventures, while others left amid governance issues. Second-time founders also contributed to the creation of new startups. The leadership changes reflect the dynamic landscape of India's startup ecosystem in response to evolving challenges.
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Energy storage startup AmpereHour Energy raises $5 million from Avaana Capital
Economic Times
·
5m ago
Medial
AmpereHour Energy, a Mumbai-based energy storage startup, secured $5 million from Avaana Capital and others to enhance manufacturing, R&D, and product development. Founded by IIT Bombay alumni, the company specializes in battery energy storage systems for power infrastructure. Serving clients like Amazon and Siemens, it plans to expand its power storage capacity from 50 MWh to 1 GWh in 18 months. The funds will also support geographical expansion to markets like the UAE, Oman, and Nigeria.
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Myntra's CPTO Exits, Second Leadership Departure in Two Months
OutlookIndia
·
4m ago
Medial
Myntra's Chief Product and Technology Officer (CPTO), Raghu Krishnananda, has resigned after five years to pursue new ventures. Until a new CPTO is appointed, his team will report to CEO Nandita Sinha. This marks the second leadership departure from a Flipkart-owned company in two months, after Flipkart’s CPTO, Jeyandran Venugopal, left earlier. Krishnananda's responsibilities included leading business intelligence, design, product management, IT, and security at Myntra.
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If I’m a graduate from India, I might not come to US: Adobe CEO
Inshorts
·
1y ago
Medial
In a podcast with Nicolai Tangen, Adobe CEO Shantanu Narayen highlighted a significant shift: most Indian graduates now prefer to pursue postgraduate studies in India due to abundant opportunities. He noted that only about 5% of graduates from Indian institutions are heading abroad. Narayen said if he was a graduate from India now, he might have chosen to stay there.
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Former OpenAI CTO Mira Murati is reportedly fundraising for a new AI startup
TechCrunch
·
10m ago
Medial
Mira Murati, the former OpenAI CTO, is reportedly raising venture capital funding for a new AI startup. The startup will focus on building AI products using proprietary models and is aiming to raise over $100 million in this funding round. Murati left OpenAI to pursue her own exploration but did not provide further details about her plans. Prior to joining OpenAI, Murati had worked at Tesla and Leap Motion. This development comes after several other high-level executives left OpenAI recently, and the company raised a record-breaking $6.6 billion in a recent venture capital round.
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Startup made me intern as I got 10 GPA in IIT-M: Perplexity AI CEO Aravind
Inshorts
·
1y ago
Medial
Perplexity AI CEO Aravind Srinivas said his interest in AI started in 2014 when he interned with a startup in Bengaluru. "They took me because I got a 10...GPA in...my second year at IIT Madras and...that was...rare," he stated. He added that he developed a system for the startup by reading a paper and finished the internship within a month.
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