Author: Business Matters Editor

Lenskart Acquires AI-Powered Analytics Startup Tango Eye October 30, 2023 Lenskart, India’s leading eyewear retailer, has acquired AI-powered analytics startup Tango Eye. The acquisition is aimed at strengthening Lenskart’s technology capabilities and improving its customer experience. Tango Eye is a company that develops AI-powered solutions for the eye care industry. Its products include an AI-powered eye test, a virtual try-on system, and a personalized recommendation engine. Lenskart plans to use Tango Eye’s technology to improve its customer experience in a number of ways. For example, Lenskart will use Tango Eye’s AI-powered eye test to provide customers with more accurate and…

India Advocates for a Precise E-commerce Trade Definition in WTO for Goods and Services The world of commerce has undergone a remarkable transformation in recent decades, with e-commerce emerging as a driving force behind global trade. In the wake of this digital revolution, the World Trade Organization (WTO) has found itself at the center of discussions regarding the regulation and definition of e-commerce in the context of international trade. India, as a prominent member of the WTO, has taken a proactive stance, advocating for a precise and comprehensive definition of e-commerce that encompasses both goods and services. As the global…

Tata Group Acquires Wistron’s iPhone Manufacturing Unit in India for $125 Million In a significant move that underscores India’s growing prominence in the global electronics manufacturing landscape, Tata Group, one of India’s largest conglomerates, has acquired Wistron’s iPhone manufacturing unit in the country for a reported $125 million. This strategic acquisition not only represents a major boost for India’s “Make in India” initiative but also has broader implications for the technology and manufacturing sectors. Background: India’s Rise in Electronics Manufacturing India has been steadily working to position itself as a hub for electronics manufacturing. The Indian government’s “Make in India”…

After Successful 5G Rollout, India Aims To Be A Leader In 6G: PM Modi Prime Minister Narendra Modi has said that India is moving towards becoming a leader in 6G technology, adding that the future is here and now. He made the announcement while inaugurating the Indian Mobile Congress (IMC) in New Delhi on October 28, 2023. Modi said that India is not only expanding 5G in the country but also moving in the direction of becoming leaders in the area of 6G technology. He added that the government has set aside more than US$1.2 billion for research and development…

The Delhi government has announced a new initiative to support 15,000 startups by 2030. The initiative is part of the government’s broader goal of making Delhi a global startup hub. Under the initiative, the government will provide startups with a range of support services, including: Financial assistance: The government will provide startups with financial assistance in the form of loans, grants, and equity investments.Mentorship and guidance: The government will provide startups with access to mentors and advisors who can help them navigate the startup ecosystem.Infrastructure support: The government will provide startups with access to co-working spaces, incubators, and other infrastructure facilities.Market access: The government will help startups to…

The world of communication has been dramatically transformed in recent years, thanks to the rise of Over-The-Top (OTT) communication apps. These applications, which allow users to make voice and video calls, send messages, and share multimedia content over the internet, have become an integral part of our daily lives. As the use of OTT communication apps has grown, so too have concerns about data security, user privacy, and the need for appropriate regulatory oversight. In response to these challenges, governments around the world are exploring the concept of a regulatory sandbox to strike a balance between innovation and compliance. A…

Homegrown Battle Royale Game Indus Notches 7 Million Pre-Registrations The Indian gaming industry has witnessed a remarkable upsurge in recent years, with a surge of interest and investment in the field. Among the emerging stars in this burgeoning landscape is Indus, a homegrown Battle Royale game developed by a talented team of Indian developers. With an intriguing mix of action, strategy, and culturally resonant elements, Indus has made waves even before its official release, garnering a staggering 7 million pre-registrations. Indus is a testament to the growing popularity and potential of the Indian gaming market. The Battle Royale genre, popularized…

Meta India, the Indian arm of global social media giant Meta, reported gross advertisement revenues of INR 18,308 Cr in FY23, up 13% year-on-year from INR 16,189 Cr in FY22. The growth rate is markedly lower than the 74% YoY expansion seen in FY22. This comes as the global advertising sector grapples with challenges amid economic downturn and a funding freeze. Despite the slowdown in growth, Meta India remains the largest digital advertising platform in the country. The company’s platforms, including Facebook, Instagram, and WhatsApp, are used by over 460 million Indians, or nearly 40% of the country’s population. This…

Giga ML Secures $3.6M Seed Funding to Revolutionize Enterprise Deployment of Large Language Models Giga ML, a startup that provides on-premises deployment of large language models (LLMs), has raised $3.6 million in seed funding. The round was led by Nexus Venture Partners, with participation from Y Combinator, Liquid 2 Venture, and Y Combinator CEO and notable angel investor Garry Tan. LLMs are a type of artificial intelligence (AI) that can generate and understand human language. They are trained on massive datasets of text and code, and can be used for a variety of tasks, including translation, writing, and code generation.…

The festive season sale has always been a significant event in the world of consumer electronics, and this year, Apple’s iPhone has managed to make it even more remarkable. With a spectacular sales figure of over 1.5 million units in its first week, the iPhone has set a new standard for the industry and surpassed all expectations. The iPhone has long been a symbol of innovation and quality in the smartphone market, and its popularity continues to grow with each new release. The latest models, which were introduced just in time for the festive season, have clearly resonated with consumers…