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.
Kae Capital appoints Abhishek Srivastava, Gaurav Chaturvedi as general partners
Kae Capital announced the appointment of Abhishek Srivastava as a new general partner and promoted Gaurav Chaturvedi to the same position. Srivastava has significant experience in enterprise and emerging tech sectors, while Chaturvedi focuses on enterprise software and B2B startups. Founded in 2012, Kae Capital manages $250 million and has invested in more than 85 startups.
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.
Brands rush in as Olympians Neeraj Chopra, Manu Bhaker, Vinesh Phogat strike gold on social media
Indians’ love for varied sports at global championships such as Olympics is paralleling Cricket’s popularity. Visa’s Kumar concurred that while Cricket is immensely popular, Olympic Games “ignite a spirit of competition, passion and human excellence amongst many.” For instance, Neeraj Chopra’s final javelin throw where he secured a silver medal was watched by 5.6 crore viewers on Jio Cinema, comprable to India's winning match at T20 World Cup Finals in June.
How DMart plans to take on the quick commerce rivals
Avenue Supermart, India's largest listed retailer by sales and market capitalization, announced that it will focus on discounting and lower pricing to drive growth. The owner of DMart supermarkets emphasized that it will prioritize opening more stores instead of launching an ultra-fast delivery model, despite the rising popularity of quick commerce rivals. This approach is aimed at covering catchments and clusters where quick commerce companies are currently experiencing high demand.
Cannot allow Paytm type contamination in stock markets: Sebi chief
Sebi chairperson Madhabi Puri Buch said that every market participant will have to adhere to the highest standards of KYC to ensure bad apples are kept out of formal financial services. She also said the KYC Registration Authority system is key to ensure the sector is safe. The Sebi chief took the example of Paytm in the context of RBI's regulatory action earlier this year.
UN cybercrime text faces new scrutiny from tech firms, rights groups
UN member states meet Monday seeking to finalize an international treaty on the fight against cybercrime, a text strongly opposed by an unlikely alliance of human rights groups and big technology companies. Now, the draft text will finally come up for a vote by member states at the end of a two-week session.
In crypto world, the hacker is God
When a cyber villain affects a system, it's as unstoppable as an earthquake or pandemic. Traders, for example, who have had their cryptocurrencies and funds locked on WazirX due to a recent cyberattack are now facing the consequences. Due to these incidents, what is now coming to the fore is that unlike banks or stock exchanges, most local crypto platforms categorise ‘cyber breach’ as a ‘force majeure’ event (or, an ‘Act of God’).
How Apple is doubling down on its India manufacturing plan
Apple expanded its manufacturing in India, including opening flagship stores and potentially assembling iPads. The company's sales in India hit a record $8 bn, growing 33% in the past year. Employing around five lakh people, Apple is pushing to diversify from China. Key suppliers like Foxconn are increasing operations in India.
