Tech
Zepto bags $340 million more, taking its valuation to $5B
ET reported about quick commerce company Zepto finalising a $300 million funding round on August 12. This round values the company at $5 billion, marking a 3.5 times growth in the past year. Existing investors such as StepStone, Lightspeed, DST Global, and Contrary have also participated in the latest funding round, the company said in a statement.
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Tech Newsletters
The Reserve Bank of India (RBI) expects self-regulatory organisations (SROs) to safeguard consumer interest and ensure responsible growth in the fintech sector. More on this on today’s ETtech Top 5.
Happy Thursday! Zerodha is deeply integrating its trading and mutual fund distribution businesses. This and more in today’s ETtech Morning Dispatch.
PhonePe CEO Sameer Nigam said the 30% market share cap on Unified Payment Interface is a hurdle for its IPO plans. This and more in today’s ETtech Top 5.
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Tech Bytes
Operational expansion to 'Foxconn City': A look at Foxconn's India announcements
Foxconn chairman Young Liu said Taiwan can become India’s “most trusted and reliable partner” and that Foxconn is looking to position itself in that way. The company has dialled up investment in the country, as it looks to manufacture more than just iPhones and move up the value chain.
PUBG, BGMI-maker Krafton plans to set up R&D unit in India: CEO Sean Hyunil Sohn
The company earlier this year launched the Krafton India Gaming Incubator programme to support game development talent in India by providing funding, mentorship, and essential resources to developers. KRAFTON has invested USD 160 million in Indian startups since 2021 and plans to invest an additional USD 150 million over the next 2-3 years.
Flooding on roads leading to Bengaluru tech hubs sparks uproar
Two years ago, the State Government and technology companies had decided to work together to find a permanent solution to the issue of waterlogging after several firms on either side of the outer ring road (ORR) stretch battled their worst-even crisis thrown up by the unprecedented rains.
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