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Nvidia going for rivals' jugulars as it plans to compete in $30 billion custom chip market — but is it a sign that the AI behemoth has reached its peak?

TechradarTechradar · 1y ago
Nvidia going for rivals' jugulars as it plans to compete in $30 billion custom chip market — but is it a sign that the AI behemoth has reached its peak?
Medial

Nvidia is reportedly planning to enter the lucrative custom chip market to combat the potential threat posed by its customers developing their own internal chips. The company's officials have held discussions with its biggest tech customers about making custom chips for them. The data center custom chip market is estimated to reach $10 billion this year, and double that in 2025, presenting a significant growth opportunity for Nvidia. Currently, Broadcom and Marvell dominate this market, but Nvidia's entry could impact their sales. The news of Nvidia's plans caused its shares to rise while Marvell's shares dropped.

Peak XV’s Chief Product Officer Anuj Sahai resigns

EntrackrEntrackr · 4m ago
Peak XV’s Chief Product Officer Anuj Sahai resigns
Medial

Peak XV’s Chief Product Officer Anuj Sahai resigns Anuj Sahai, Chief Product Officer at Peak XV Partners, has stepped down from his role, adding to a string of recent top-level departures at the venture capital firm. In a LinkedIn post, Sahai announced his exit, saying, “After an eventful run as Chief Product Officer at PeakXV, I’m turning the page and looking forward to the next adventure. The role gave me a front-row seat to the startup ecosystem—partnering with founders and ideas that are shaping markets—and hands-on experience with AI technologies. Huge thanks to Peak XV Partners for the opportunity!” Sahai had joined Peak XV (formerly Sequoia Capital India & Southeast Asia) in 2023 after building a career leading product and monetization strategies at companies like Flipkart, Ola, Payback, and Yahoo!. Peak XV Partners has witnessed a series of high-level departures in recent months. In February 2025, managing partners Shailesh Lakhani and Abheek Anand resigned after long stints at the firm, followed by investor Shraeyansh Thakur’s exit in March after nearly a decade. These exits add to an earlier wave of senior-level churn, including the departures of Piyush Gupta, Anandamoy Roychowdhary, and others.

Flipkart announces new ESOP liquidity worth $50 Mn

EntrackrEntrackr · 5m ago
Flipkart announces new ESOP liquidity worth $50 Mn
Medial

Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Flipkart has announced a fresh ESOP (Employee Stock Option Plan) liquidity opportunity for its employees, according to an internal note from the company’s chief executive officer Kalyan Krishnamurthy. As per the note, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. Payouts will be made in August 2025 under the Flipkart Stock Option Plan 2012. An ET report estimates the size of the ESOP buyback at $50 million, with 7,000 to 7,500 employees expected to benefit from the liquidity program. Flipkart is currently valued at around $36 billion. Krishnamurthy also added that if key performance goals are met by the end of 2025, another 5% liquidity window could open in early 2026. A Flipkart spokesperson confirmed the development to Entrackr. This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. The company’s board has already approved the process to shift its holding structure from Singapore to India. In 2025, a clutch of startups including Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have implemented ESOP buyback, liquidity, and payout programs worth around $67 million. In 2024, more than 20 startups implemented $200 million. According to startup data intelligence platform TheKredible, the ESOP buyback or liquidity amount stood at $802 million in 2023, $440 million in 2021, and $200 million in 2022.

Infibeam Avenues rebrands as AvenuesAI, elevates Vishwas Patel to MD and CEO

EntrackrEntrackr · 19d ago
Infibeam Avenues rebrands as AvenuesAI, elevates Vishwas Patel to MD and CEO
Medial

Infibeam Avenues plans to change its name to AvenuesAI Ltd as part of a broader shift in its business strategy. The rebrand, approved in principle by the board, is subject to statutory and regulatory clearances. The company said the new identity reflects its transition from a payments and e-commerce infrastructure provider to an AI-driven digital payments and fintech business. Infibeam also planned a leadership change with the elevation of Vishwas Patel, currently Joint Managing Director, to the role of Managing Director and Chief Executive Officer. Vishal Mehta will continue as Chairman and Managing Director, focusing on long-term strategy and the company’s AI-led roadmap. As part of the same board meeting, the company appointed Neharika Vohra as an Additional Women Director (non-executive, independent) for a five-year term beginning December 11, 2025. Vohra has held leadership roles in entrepreneurship programmes at IIMA Ventures. Infibeam Avenues operates across India and multiple overseas markets, including the UAE, Saudi Arabia, Australia, and the US. It also works with major banks in Oman. The company said global expansion in payments offers stronger unit economics, and the rebrand supports this ambition. The business reported 84% revenue growth in H1 FY26 and a 26% rise in TPV year-on-year. CCAvenue will continue as the primary brand for its payment gateway and related merchant services. The platform works with more than 200 banks and financial institutions. Infibeam Avenues processed transactions worth Rs 8.67 trillion in FY25 and serves more than 10 million merchants and enterprise customers across its payments and platform businesses.

Funding and acquisitions in Indian startup this week [25 - 30 Nov]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startup this week [25 - 30 Nov]
Medial

During the week, 18 Indian startups raised around $54.43 million in funding. These deals include 2 growth-stage deals and 13 early-stage deals while 3 startups kept their transaction details undisclosed. Last week, 23 early and growth-stage startups cumulatively raised around $596 million in funding. Among the growth-stage deals, 2 startups raised $13 million in funding this week. Direct-to-customer (D2C) e-commerce solutions provider ShopDeck is on top with $8 million in funding. MSME-focused digital lender NeoGrowth raised $5 million. Further, 13 early-stage startups secured funding worth $41.43 million during the week. Global manufacturer of plastic promotional toys SM Toys (Candytoy Corporate) led the list followed by commercial EV leasing and asset management ALT Mobility, cross-border specialty chemical distribution platform Elchemy, D2C platform for baby and mothercare products All Things Baby, and smart kitchen appliance brand Beyond Appliances. Meanwhile, DevX, BitSave, and ElecTrade also raked in funding but did not disclose the transaction details. For more information, visit TheKredible. In terms of the city-wise number of funding deals, Delhi-NCR-based startups led with 5 deals followed by Mumbai, Bengaluru, Ahmedabad, Indore, Kochi, Hyderabad, and Surat. Segment-wise, E-commerce startups are on the top spot with 6 deals. Manufacturing, EV, Chemicals, and Fintech startups followed the list among others. During the week, Series A and pre-Series A funding deals are at the top with 5 deals each followed by Seed, pre-seed, Series B, and Debt deals. On a weekly basis, startup funding dwindled 90.9% to $54.43 million as compared to around $596 million raised during the previous week. The average funding in the last eight weeks stands at around $263 million with 24 deals per week. As many as two startup-focused funds launched this week namely Stellaris Venture Partners and Kenro Capital. The startup ecosystem witnessed 2 notable hires this week. Battery Smart onboarded Amit Bhardwaj as CFO and Allianz Partners welcomed Michael Buttstedt as finance chief and board member. Additionally, Sriram Krishnan resigned from Andreessen Horowitz (a16z), Peak XV’s partner Anandamoy Roychowdhary left the firm, and Unacademy’s SVP of Design Hardik Pandya exited. E-commerce firm Nykaa announced acquired majority stakes in Earth Rhythm, Nodwin Gaming purchased Trinity Gaming, and ISMG took a majority stake in Nullcon. StockGro, a platform for learning about trading and investments, announced that it has conducted two Employee Stock Option Plan (ESOP) buyouts between 2023 and 2024. StockGro offered these buyouts purely to provide employees with the chance to cash in on their vested shares. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. Uber rolls out 'Uber One' loyalty programme in India. Meesho unveils Gen AI-powered multilingual voice bot. Miko set to raise Rs 28 Cr in Series C round. OneCard to secure $28.5 Mn in new funding round. Innov8 eyes fresh funds worth Rs 100 Cr. Sugar Cosmetics to raise funding from Anicut, Malabar. Univest plans to raise $16 Mn funding. Incupaze seeks $25 Md funding. Bloom Hotels posts Rs 250 Cr revenue in FY24; profit spikes 2.3X. CitiusTech’s profit balloons 6X to Rs 350 Cr in FY24. DailyObjects’ revenue spikes 34% to Rs 84 Cr in FY24. Pratilipi approaches Rs 60 Cr revenue mark in FY24, cuts losses by 62%. Cars24 sells 2 lakh cars in FY24, revenue nears Rs 7,000 Cr. ApnaKlub reports Rs 537 Cr gross revenue in FY24 with sound economics. Beardo crosses Rs 170 Cr revenue in FY24; regains profitability. Lendingkart posts Rs 1,090 Cr revenue in FY24, profit slips. With 500% growth, Pocket FM joins Rs 1,000 Cr revenue club in FY24. ShareChat’s revenue grows 33% in FY24 to Rs 718 Cr. EV firm Bounce on track to report over Rs 150 Cr revenue by FY25. Flipkart-owned Cleartrip spent Rs 988 Cr to earn Rs 97 Cr in FY24. Info Edge-backed Gramophone GMV shrinks 70% in FY24. HealthKart reports Rs 1,021 Cr revenue and Rs 37 Cr PAT in FY24. Zomato secures Rs 8,500 Cr via QIP. CCI probes Google after Winzo alleges anti-competitive practices. Awfis reports insider trading violation by a senior executive. Nazara Technologies raises over $100 Mn via preferential issue. CCI nods to Google's investment in Flipkart and Temasek's in Rebel Foods. IIMA Ventures and Google partner to boost 22 AI startups. Amazon India to debut in quick commerce with 'Tez' launch. Tata Neu expands into quick commerce with Neu Flash. Flipkart penalized for unfair trade practice over defective product. Zomato CEO Deepinder Goyal waives salary until FY26. Ola Electric launches affordable e-scooters for gig workers. Angel One receives SEBI approval to enter the mutual fund business. Honda enters the EV market with Activa E and QC1 e-scooters. IT department issues notices to Paisabazaar over vendor payments. Zomato’s hyperpure introduces a 4-hour express delivery service. On a weekly basis, startup funding dwindled 90.91% to $54.19 million as compared to around $596 million raised during the previous week. The week saw two startup-focused fund launches namely Stellaris Venture Partners and Kenro Capital. Amazon India is set to enter the quick commerce segment with a new delivery service, code-named ‘Tez,’ which is expected to launch by late December or early next year. Tata Group's e-commerce platform, Neu, has also introduced a quick commerce service, Neu Flash, offering 15-minute deliveries in over 20 cities across India. The District Consumer Disputes Redressal Commission (Mumbai Suburban) found Flipkart guilty of unfair trade practices over a defective product. The Commission directed Flipkart and the seller to refund the product’s cost with interest and pay INR 10,000 as compensation to the customer. It also criticized Flipkart’s ‘no return policy’ for the product, deeming it an unfair trade practice. Ola Electric has launched two electric scooter models, S1 Z and Gig, aimed at gig economy workers and budget-conscious consumers. Priced at INR 39,999, the Ola Gig directly competes with players like Yulu, catering to short-distance commutes and delivery services, while the Gig+ variant is priced at Rs 49,999. The S1 Z starts at Rs 59,999, with the premium S1 Z+ priced at Rs 64,999, offering a range of affordable options for diverse user needs. Paisabazaar, owned by PB Fintech, has received notices from the Income Tax Department regarding payments made to certain vendors and their associated entities. Issued under the Prohibition of Benami Property Transactions Act, 1988, and Section 142(1) of the Income Tax Act, 1961, the notices seek documents and explanations about these transactions. The company, in its regulatory filing, stated that it is complying with prescribed timelines and will take all necessary steps to present and defend its case before the authorities.

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