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Tag: #news

  • OpenAI to Invest in 1 GW Data Centre in India, Strengthening Local Presence

    The startup that created ChatGPT, OpenAI, is looking for regional partners to establish a data centre in India. According to Reuters, which cited Bloomberg News, it seeks to have a capacity of at least one gigawatt.

    Microsoft Partnership & Stargate AI Infrastructure

    With Microsoft’s support, OpenAI has established a local team and registered as a legal business in India. In August, the business announced its intention to grow into its second-largest user market by opening its first office in New Delhi later this year.

    According to Bloomberg, the new data centre might be a big step for OpenAI’s Stargate-branded AI infrastructure in Asia. The India project’s precise site and schedule are yet unknown, though. Details might be disclosed by CEO Sam Altman when he travels to India in September.

    Free ChatGPT Licenses for Teachers & Students

    A significant project to give 500,000 free six-month ChatGPT licenses to Indian teachers and students was unveiled by OpenAI last week. The initiative will involve K–12 teachers, engineering and technical institutes, and government schools from Classes 1–12.

    OpenAI Learning Accelerator Programme Explained

    During a media conference, Leah Belsky, OpenAI’s vice-president of education, said the company thinks AI (artificial intelligence) has the potential to revolutionise student education. AI has the potential to be a learning agent and personal instructor for life. AI can help teachers focus more on the essential aspects of education by freeing up their time. The program, known as the OpenAI Learning Accelerator, is a first for India. Belsky stressed that the goal of OpenAI’s free licenses is not to generate revenue. “At this time, access and training are the main priorities,” she stated.

    According to Belsky, the company’s overarching goal is to help a community of 500,000 users—with an emphasis on educators—learn how to utilise ChatGPT and then reproduce those lessons. In India, the Ministry of Education, the All India Council for Technical Education (AICTE), and educational institutions connected to the Association for Reinventing School Education (ARISE) will work together to distribute the ChatGPT licenses.

    India as ChatGPT’s Second-Largest Market

    After the US, ChatGPT’s second-largest user base is in India. Targeting the nearly one billion internet users in the most populous country in the world, the business this week introduced a more reasonably priced monthly plan at $4.60. Along with other premium paid subscriptions, it also provides a basic free plan.

    According to OpenAI’s recently disclosed market data on 22 August, the country with the highest number of student users on ChatGPT is India, where the number of weekly active users has doubled in the last 12 months. In the last year alone, ChatGPT’s weekly active user base in India has grown by more than four times.

    Quick
    Shots

    •Data centre to power Stargate AI
    infrastructure in Asia.

    •CEO Sam Altman may announce details
    during Sept India visit.

    •500,000 free six-month ChatGPT
    licenses for teachers & students.

    •India is ChatGPT’s second-largest
    market after the US.

  • Tata Capital Plans $2 Bn IPO in Last Week of September, Aims for $11 Bn Valuation

    According to various media reports, Tata Capital, a non-banking financial company (NBFC), is scheduled to commence its much-awaited $2 billion (INR 17,200 crore) IPO the week of September 22. Reports said that the corporation is anticipated to be worth approximately $11 billion as a result of the issue.

    Tata Capital IPO Date & Expected Valuation

    By September 30th, Tata Capital is probably going to launch on the stock market. According to the revised draft red herring prospectus (DRHP) submitted in August, the planned IPO of 47.58 crore shares consists of an offer for sale (OFS) of 26.58 crore shares and a new issue of 21 crore equity shares.

    Tata Sons will sell 23 crore shares under the OFS component, and the International Finance Corporation (IFC) will sell 3.58 crore shares. At the moment, IFC owns 1.8% of Tata Capital, while Tata Sons controls 88.6%.

    How Tata Capital Will Use IPO Proceeds?                                   

    In order to meet future capital needs, such as further lending, the company’s Tier-1 capital base will be strengthened with the help of the IPO proceeds. This IPO will grow to be the biggest public offering in the Indian financial industry if it is successful.

    In addition, it will be the second public listing of the Tata Group in recent years, after Tata Technologies’ November 2023 debut. The IPO is being conducted in accordance with the listing mandate of the Reserve Bank of India (RBI), which stipulates that upper-layer NBFCs must be listed within three years of their categorisation. In September 2022, Tata Capital received its designation as an upper-layer NBFC.

    Comparison with Other NBFC IPOs (HDB, Bajaj Housing Finance)

    Similar to this, HDB Financial Services, HDFC Bank’s non-banking division, went public in June with an INR 12,500 crore offering. In September 2024, another upper-layer NBFC, Bajaj Housing Finance, made a spectacular market debut by completing the first day of trading at a 135% premium over the issue price.

    Experts’ Review: Should You Invest in Tata Capital IPO?

    According to market experts, IPO investors can feel confident in Tata Capital’s capacity to maintain performance because of its steady asset quality, increasing and diverse loan book, strong domestic ratings, and seasoned leadership. With total gross loans of INR 2.26 lakh crore as of March 2025—a compound annual growth rate of 37% during FY23 and FY25—Tata Capital has demonstrated steady performance.

    With a compound annual growth rate (CAGR) of 10%, its profit after tax increased from INR 3,029.2 crore in FY23 to INR 3,646.6 crore in FY25. Asset quality has remained steady despite this explosive increase; at the end of FY25, combined gross bad loans were 1.9% and net bad loans were 0.8%, backed by a provision coverage ratio of 58.5%.

    In FY25, its net interest margin was 5.2%, indicating strong spreads throughout its lending operations. Tata Capital reported a consolidated net profit of INR 1,041 crore in Q1 FY26, more than doubling the INR 472 crore earned in the same quarter the previous year. Total income increased to INR 7,692 crore from INR 6,557 crore for the quarter ended June 2024, continuing the upward trend into the current fiscal year.

    Quick
    Shots

    •47.58 crore shares – OFS (26.58 cr) +
    Fresh issue (21 cr).

    •Tata Sons to offload 23 cr shares,
    IFC to sell 3.58 cr shares (holds 1.8%).

    •IPO proceeds to boost Tier-1 capital
    base and support future lending growth.

    •Likely to be biggest IPO in Indian
    financial services sector.

  • MPL to Layoff 60% Staff as India’s Ban on Paid Online Games Hits Revenue

    The Mobile Premier League (MPL), one of the largest gaming businesses in India, has announced significant employment layoffs as a result of the country’s decision to ban paid online games.

    MPL to Lay Off 60% Staff as India Bans Paid Online Games

    Reuters reports that the Bengaluru-based startup will lay off roughly 300 employees, or 60% of its India workforce, because the new rule eliminates revenue from its primary fantasy and card gaming business. The government imposed a statewide ban on online paid games earlier this month, citing the potential for addiction and monetary losses, especially among young players.

    The action has immediately altered the trajectory of the Indian online gaming market, which was predicted to reach $3.6 billion by 2029. Apps that offered poker, rummy, and fantasy cricket—formats that had become more and more popular in recent years—were forced to close.

    CEO Sai Srinivas’ Email to Employees

    MPL co-founder and CEO Sai Srinivas stated the company had no other option in an email sent to staff on August 31. The company has made the painful decision to drastically reduce the size of its India team. According to the email, 50% of M-League’s revenue came from India, and this shift would imply that the company would not be generating any income from that country going forward.

    Several areas, including marketing, operations, engineering, legal, and finance, will experience job losses. Although he did not provide specifics in his note, Srinivas also stated that MPL will support staff members during the changeover.

    Impact on Fantasy Cricket, Poker, and Rummy

    According to Pitchbook data, MPL, which was supported by Peak XV Partners (formerly Sequoia Capital India), was valued at $2.3 billion in 2021. Due to the restriction, the company’s approximately $100 million in revenue from India from the previous year will no longer exist.

    MPL’s Global Focus After India Exit

    The app has paid gaming operations in the US and Brazil and still offers free-to-play games in Europe. It is anticipated that the company would concentrate on these regions. The industry as a whole is feeling the effects of the prohibition. The $8 billion rival Dream11 has already shut down its fantasy cricket division, and a number of poker and rummy sites have gone down.

    Industry associations contend that skill-based activities like fantasy cricket are not comparable to gambling, which has traditionally been severely regulated in India. Not every player is backing off. As the first to file a lawsuit, gaming company A23 has contested the government’s ruling in court. However, MPL and Dream11 have chosen not to challenge the ruling.

    PokerBaazi to Lay Off 50% Workforce After MPL Job Cuts in Indian Gaming Industry

    After real money gaming (RMG) was outlawed in India, Moonshine Technology, which was supported by Nazara Technologies and ran PokerBaazi, began firing its staff. According to sources who spoke to several media sites, the business has begun to lay off workers, with up to 50% of its personnel potentially affected.

    According to a different Storyboard18 article, 200 workers were let go by the company that created PokerBaazi. Moonshine Technology is now the second startup to use layoffs as a result of the RMG ban.

    Additionally, the development follows Nazara’s decision to forgo acquiring a further share in Moonshine Technology. Nazara and Moonshine Technology had reached a final agreement for Nazara to purchase a 47.7% share in Moonshine Technology for INR 831.5 Cr through a secondary transaction.

    Quick
    Shots

    •Ban wipes out revenue from MPL’s core
    fantasy cricket, poker, and rummy businesses.

    •India gaming market, once projected
    to reach $3.6B by 2029, faces major disruption.

    •Layoffs across marketing, ops,
    engineering, legal & finance.

    •MPL valued at $2.3B in 2021, with
    ~$100M revenue from India last year—now lost.

  • Reliance AGM 2025 Highlights: Google, Meta, and Jio Building India’s AI Future?

    The world is moving fast towards AI, and so is Reliance. So many things are happening for Reliance. At the 48th Annual General Meeting (AGM), Reliance Industries (RIL) made some big announcements. Today (August 29) at the AGM conference, Mukesh Ambani spoke about them all via Video Conferencing (VC)/Other Audio-Visual Means (OAVM). And that brings us to some important questions. Will these announcements (tech advancements) push India’s tech any further? Is the AI momentum in India picking up its pace? Well, learn more.

    What’s Happening at Reliance?

    The company announced new digital products, AI services, and partnerships with Google and Meta. Meaning, Reliance is going beyond telecom to become a big tech leader in India. These key updates are, in a way, very crucial for India, and here they are.

    Jio Digital Twin System

    This is crucial for the country, as it will make India one of the fastest in broadband service:

    • Think of it like a virtual 3D India Map for telecom engineers (in telecom infrastructure), Reliance calls it a “living breathing” model.
    • Generally, for a broadband to be set up, the engineers need to physically check the area and then plan.
    • With this Jion Digital Twin System, the engineers can remotely check the network and activate the broadband. The process will now take less than 24 hours for users’ convenience.
    • The system constantly updates the data as new data rolls in.

    Jio AI Cloud 2.0

    Notably, Reliance already has Jio Cloud for storing data, but now has an upgrade called AI Cloud 2.0. Now it can help:

    • Jio users can now search and organize their files with voice commands in several Indian languages.
    • The 2.0 version will automatically categorise the users’ documents into bills, ID cards, receipts, and more.
    • With natural language, you can command if you want to find files, for instance, “Show me my PAN card or Aadhar, etc.
    • The new AI Create Hub will turn photos into reels, collages, or promotional videos. This feature comes in handy for content creators and small businesses (for their social media). 

    JioFrames (Smart Glasses)

    Reliance announced the launch of AI-powered smart glasses, which are one of a kind, perhaps the first to launch in India. In July 2025, Lenskart and Qualcomm announced a collaboration to come up with next-gen AI-powered smart glasses, but the launch or updates are yet to come. The JioFrames features include:

    • Works in multiple Indian languages.
    • It comes with Jio’s AI voice assistant.
    • One can click HD pictures, record high-quality videos, livestream directly, all while saving the files to Jio Cloud.

    The glasses provide real-time help as well:

    • Like it can summarize a book for you (as you read)
    • It can guide you in cooking (step by step)
    • It can be your travel guide with all the information you need on the go.
    • The glasses have built-in open-ear speakers, so you can take calls, listen to music, or play your favorite podcasts (again, this feature will not block the outside sounds, so you feel present yet in the mood).

    JioPC

    Many Indian families find it expensive to afford a laptop or a PC. Jio is bridging that gap. This service is also unique in nature as it turns any TV into a functioning computer. It works:

    • If you get a Jio set-up box, that will be it.  You don’t need a separate CPI for it because it runs on the cloud.
    • One can access any computing without buying a PC. It is especially designed for students, small businesses, and professionals who are looking for an effective PC alternative.
    • It comes with security and AI applications that make it fully functional as a PC. 

    Reliance Partnership With Google

    • Reliance announced that it is expanding its partnership with Google.
    • Google will create a big data center in India (a new Jamnagar Cloud Region).
    • This is huge as it will bring AI and cloud computing power to Indian users, and the goal is to make AI accessible for all (people and businesses) in India.

    In a pre-recorded video, the Google CEO, Sundar Pichai, said,

    “As Reliance’s largest public cloud partner, Google Cloud is not only powering the company’s mission-critical workloads, but we are also innovating with you on advanced AI initiatives. And with Reliance and the Jio ecosystem, we are excited to put AI into the hands of more people and businesses so they can do extraordinary things.” 

    Reliance Partnership With Meta

    Reliance also announced a partnership with Meta to bring its open-source Llama AI models to Indian businesses through Jio.

    “It is a key step forward towards ensuring that everyone has access to AI, and eventually, superintelligence. Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work,” Mark Zuckerberg said. 

  • Daily Indian Funding Roundup & Key News – 29 August 2025: Vutto Raises $7M, Reliance Launches AI Unit with Google & Meta, Elevation’s $400M Fund & More

    India’s startup and business ecosystem continued to witness strong momentum on 29th August 2025, with fresh funding activity and major strategic moves shaping the landscape. From mobility and AI to late-stage venture funding, the day was marked by significant developments. While Vutto secured a $7 million Series A to strengthen its used two-wheeler marketplace, Elevation Capital unveiled a massive $400 million fund for IPO-bound startups. Meanwhile, Reliance joined forces with Google and Meta to foray deeper into AI, and Uniphore expanded its global AI automation capabilities through acquisitions.

    Daily Indian Funding Roundup – 29th August 2025

    Company Amount Round Lead investor(s) Sector
    Vutto $7 Mn Series A Orios Venture Partners, Touchstone, Alteria, Trifecta Used Two-Wheeler Marketplace

    Key Business News for 29th August 2025

    Vutto raised $7 million in Series A

    Vutto, a used two-wheeler marketplace, has raised $7 million in a Series A round led by Orios Venture Partners, with participation from Touchstone Partners, Alteria Capital, and Trifecta Capital. The funds will be used to expand its presence in existing cities, enhance technology offerings, and streamline financing options for buyers and sellers.

    Elevation Capital Launches $400 Mn Late-Stage Fund for IPO-Bound Startups

    Elevation Capital has announced the launch of a $400 million late-stage fund focused on investing in IPO-ready startups. With this fund, the venture capital firm aims to support high-growth companies preparing for public listings by providing capital to strengthen operations, scale aggressively, and enhance governance.

    Reliance Launches AI Unit with Google and Meta as Partners

    Reliance has launched a new artificial intelligence unit, bringing in Google and Meta as strategic partners. The initiative is aimed at developing AI-powered products and services for Indian users while also strengthening Reliance’s position in the fast-growing AI ecosystem. The move underscores Reliance’s ambition to dominate the digital and technology space in India.

    Uniphore Acquires Orby AI and Autonom8

    Uniphore, the conversational AI unicorn, has acquired Orby AI and Autonom8 to strengthen its AI automation and customer experience solutions. The acquisitions are expected to enhance Uniphore’s capabilities in intelligent automation, workflow orchestration, and enterprise AI adoption, enabling the company to serve global clients more efficiently.

    Daily Indian Funding Roundup and Key News: 28 August 2025
    From banking infrastructure and microfinance to pet care and gaming, startups secured fresh capital to scale operations and deepen market penetration. Here’s your quick roundup for top funding deals and key business news in India on date.
    StartupTalkyStartupTalky News

  • India’s GDP Soars 7.8% Growth in Q1 FY26, Beating All Estimates

    While Trump’s harsh 50% trade tariffs worry India, and the sourness with the U.S. continues, India’s GDP is taking flight. Yes! India’s economy saw faster growth than anticipated in the first quarter (April–June) this FY26 (2025–26). Notably, several analysts predicted only 6.5–7% growth, but to everyone’s surprise, India’s GDP rose. Now, what does this growth say? How many sectors did this really grow? Will this be enough to show the world (especially to the U.S. President Donald Trump) that India is indeed becoming a self-reliant country? Learn more details about this significant growth.

    India’s GDP Compared to Last Year

    • Last year (2024), in the same quarter (April-June), India’s GDP was 6.5% only.
    • In the last quarter of 2025 (January-March), India’s GDP growth rate was 7.4%.
    • Now in 2025 (April-June), India’s GDP saw 7.8%, meaning the growth exceeded the previous numbers and expectations.

    The GDP Numbers Look Like…

    • The Real GDP stands at ₹47.89 lakh crore in Q1 FY26 (vs ₹44.42 lakh crore in Q1 FY25 → 7.8% growth).
    • The Nominal GDP saw an 8.8% growth (Q1 FY26). 

    Gross Value Added (GVA)

    • GVA is essentially GDP (minus taxes and subsidies), which indicates the growth from the supply sectors in the country.
    • The Real GVA of India in Q1 FY26 is ₹44.64 lakh crore (vs ₹41.47 lakh crore in Q1 FY25 → 7.6% growth).
    • The Nominal GVA of India Q1 FY26 is ₹78.25 lakh crore (vs ₹71.95 lakh crore → 8.8% growth).

    Sector-Wise Performance

    Here’s a full breakdown of Sector-Wise Performance in India (Q1 FY26)

    • Agriculture & allied: 3.7% growth (this sector grew better than last year’s 1.5%)
    • Manufacturing: 7.7%
    • Construction: 7.6%
    • Mining & quarrying: -3.1% (saw a deep shrinkage)
    • Electricity, gas, water & utilities: 0.5% (almost flat but still considerable)
    • Services (tertiary sector): 9.3% (huge jump compared to last year, which was 6.8%)

    Spending and Investments (Demand Side)

    Government Final Consumption Expenditure (GFCE)

    • The Government spent more in this quarter, with growth jumping to 9.7% in nominal terms compared to last year’s 4.0%.

    Private Final Consumption Expenditure (PFCE)

    • Meaning, the regular household spending on goods and services, which grew only 7.0% much lower than last year’s 8.3%.

    Gross Fixed Capital Formation grew 7.8% better than last year’s 6.7%.

    According to the Press Information Bureau, it stated that “Buoyant growth in Services Sector has led Indian Economy registering Real GVA growth of 7.6% in Q1 of FY 2025-26.”

    With numerous trade discussions, political stances, and more, it will be interesting to see the growth numbers for this quarter (July-September) 2025.

  • Success or Self-Destruction? Lucy Guo’s 90-Hour Workweek Sparks Debate

    We would like to open the news article with a warning. It’s a routine that most health professionals say ‘no’ to. The article isn’t a recommendation but only news coverage. Lucy Guo is a self-made entrepreneur. She rose to fame after becoming the youngest self-made female billionaire ($1.3 billion net worth), just behind Taylor Swift ($1.6 billion net worth). It’s not uncommon for people to be curious about the daily routines of famous individuals.

    And just like that, Lucy Guo gave a long 90-hour workweek, especially for startup founders. Talking to CNBC, she said that most people waste time on “Scrolling or watching TV.” But ‘what’s wrong with relaxing?’ say mental health campaigners. Well, do you need that big workweek to be successful in tech? Learn more. 

    Who Is Lucy Guo?

    • Lucy Guo is the youngest self-made female billionaire (30 years old) who co-founded ScaleAI in 2016.
    • After a massive cash push from Meta, Lucy Guo’s net worth surged to $1.3 billion, just next to the famous pop star Taylor Swift.
    • According to The Hindu, Meta invested around $14.3 billion for a 49% stake in Scale AI in June 2025.
    • Although she left the company in 2018, she has her equity stakes. Apparently, she has been the CEO of Passes since 2022.

    Lucy Guo’s Lifestyle and Routine

    Well, Lucy Guo is known for her dedication not just to her business, but also to her lifestyle. Here’s what her 90-hour workweek looks like:

    • 5:30 am: She typically wakes up at 5:30 am.
    • Intense Workouts: She goes for a workout at Barry’s Bootcamp, which is a high-intensity fitness program.
    • No lunch: She basically skips her lunch because she doesn’t like an interruption in her work.
    • Work until midnight: She works until midnight again, that fall, on most of her days.
    • Socialising until 2 am: Following her work, she likes to socialize till 2 am.
    • Minimal sleep: And back to waking up at 5:30 am, let’s say she gets about 3 to 3.5 hours of sleep. 

    What Does Science Say About Lucy Guo’s Routine?

    According to the National Center for Biotechnology Information (an official website of the United States Government), if you don’t sleep for 7 hours, you’ll fall victim to:

    • Obesity 
    • Diabetes and impaired glucose tolerance
    • Cardiovascular disease and hypertension
    • Anxiety symptoms
    • Depressed mood

    According to her, she is being more productive than her peers, spending more time awake and working. But the studies clearly say otherwise.

    Lucy Guo’s Startup Work Philosophy

    • Lucy feels that the early stages of a company do require extreme effort (but still following the same schedule of over 12 hours every day is questionable to many).
    • Her work ethic aligns with the “996” work culture in China, which involves working from 9 am to 9 pm, six days a week.

    She said, “When you’re first starting your company, it’s near impossible to do it without doing that.”

    However, the mental health campaigners and experienced entrepreneurs caution people about burnout, exhaustion, and unsustainable work habits. What do you think?  

  • Why Meta’s Top AI Talent Is Walking Away: Chaya Nayak Quits to Join OpenAI

    On one hand, the world faces layoffs as thousands of jobs are lost to AI, while on the other hand, top AI talents are benefiting from the shift among big companies. Tech giants like Meta, OpenAI, Google, xAI, and others are poaching each other’s AI talent. Just a few days ago (August 25), Meta’s seven-figure ($1 million) top hire of 2025, Rishabh Agarwal, left the company after just 5 months.

    Now, we have Chaya Nayak, another high-profile employee and Director of Product Management for Generative AI, who shocked Meta by joining OpenAI. What’s interesting is that all these departures happened only after Meta announced a team reshuffle. Which brings to an important question: Is everything okay at Meta? Is this a typical exit or something Meta should worry about? Learn more. 

    What Happened at Meta?

    Chaya Nayak is an Indian-origin long-time executive of Meta. She worked for Meta for nearly 9 years, taking key roles, and then she called it quits on August 27, 2025. Here’s her timeline with Meta:

    • She joined Meta in October 2016 as Head of Data for Good till June 2018. 
    • She worked to create Disaster Maps, which are used to help different communities during times of crisis, such as natural disasters.
    • Later in June 2018, she moved into a new role, Product Manager & Head of Open Research & Transparency, till May 2023 (worked for 5 years).
    • In May 2023, she became the Director of Product Management for Generative AI.
    • According to her LinkedIn, she was part of Meta’s Llama models (these are Meta’s advanced AI tools, just like how ChatGPT is for OpenAI).  In August 2025, Chaya Nayak was hired by OpenAI. 

    Chaya Nayak at OpenAI

    She posted a long, descriptive update on her LinkedIn on August 27 about her departure from Meta and arrival at OpenAI.

    “At the same time, I couldn’t be more excited for what’s ahead. Today, I’m joining OpenAI to work with Irina Kofman on Special Initiatives – exploring new opportunities at the frontier of AI. It feels like the perfect next chapter: to take everything I’ve learned, and pour it into work that will help define what comes next for technology and society…”

    According to her:

    • She has officially joined OpenAI and will be working with Irina Kofman in the Special Initiatives team.
    • She’ll explore new experimental AI projects at OpenAI.

    Why Does This Matter to Meta?

    Although Meta is hiring top talent (50 AI hires from its rivals in 2025), it’s also losing talent. According to Wired Magazine, at least three high-profile AI experts left the company. And more specifically, from Meta’s Superintelligence Labs team, and in less than a month:

    • Avi Verma, a renowned AI Researcher hired by Meta, left the company to rejoin OpenAI.
    • Ethan Knight worked with OpenAI at the start of his career, then moved to Tesla, joined Meta, and left within a month to rejoin OpenAI.
    • Another popular name is Rishabh Agarwal, a man who received a $1 million package and left Meta within five months of joining.
    • And now Meta has also lost Chaya Nayak, too.

    With Meta losing its talent, will it still be able to create the world’s most powerful AI, ‘Superintelligence AI’, successfully? 

  • Vutto raises $7M Series A led by RTP Global to build India’s most trusted used two-wheeler platform

    Vutto, the platform reshaping how India buys and sells used two-wheelers, has raised $7 million in Series A funding led by RTP Global, with participation from existing investor Blume Ventures. 

    Driven by the mission to make personal mobility accessible and affordable for the masses, Vutto is a full-stack platform offering a phygital experience for buying and selling used two-wheelers. Customers can explore certified inventory online, take test rides at Vutto showrooms, and drive home with as-good-as-new two-wheelers that include a six-month warranty, three free services, and complete paperwork support, including RC transfer, insurance, and financing.India is the world’s largest two-wheeler market—surpassing China. In a country with ~30 crore households, nearly 55% own a two-wheeler, with adoption even higher across Tier 2 and Tier 3 cities, where families rely on two-wheelers for daily commutes and livelihoods. Every year, India buys anywhere between 1.5 – 2 crore new two-wheelers and close to 1 crore used two-wheelers  —a vast but fragmented market where sellers seek the best price and buyers look for value. Backed by best-in-class investors and an A-team, Vutto is working towards unlocking this category.

    Vutto is building a low-cost, high-velocity operating chassis for this category—sourcing directly from consumers and businesses, refurbishing in-house to a defined standard, and backing every vehicle with a warranty and complete paperwork. The company focuses on fast-moving, everyday models for the masses. Vehicles on its platform typically sell within 12 days of listing. This velocity, paired with margin hygiene and service rigor, underpins its healthy unit economics and a differentiated promise of trust and affordable mobility at scale.

    In addition to buying two wheelers from end customers, Vutto already works with leading banks and financial institutions to create a transparent channel for repossessed two-wheelers—helping banks recover much better value and giving buyers access to higher-quality refurbished two-wheelers.

    Founded in 2024 by Rohit Khurana (ex-Swiggy, Truebil, Shuttl) and Sitaram Ankilla (ex-Shipsy, SuprDaily that was acquired by Swiggy and Truebil), Vutto’s founders have scaled complex, operations-heavy businesses across India. In just over a year, the company has sold 1,500 vehicles and opened three strategically located showrooms in Delhi, keeping access convenient for customers. Vutto has built an extremely talented team of 50+, enabling it to deliver operational excellence, consistent quality and compounding customer trust. 

    The new capital will strengthen Vutto’s three pillars of supply, refurbishment, and customer experience, the foundation for its expansion in NCR, followed by new territories.

    “Re-commerce is a tough segment to operate in, as it lacks standardization and operates on tighter economics. However, if done right, this can unlock an enormous scale. Two-wheeler re-commerce is only doable in India for the sheer size of the market. We are taking gradual steps to solve the problems that can help us unlock this massively underserved category,” said Rohit Khurana, Co-founder, Vutto. 

    “This is a business of building a strong store-level funnel and running a low-cost operating model so that unit economics work. Our first store, launched just a year ago, is already profitable and contributing to net profits. The task ahead is to replicate that ‘one store, one box’ playbook at 1,000x scale,” said Sitaram Ankilla, Co-founder, Vutto.

    “Rohit and Sitaram have lived the grind of scaling ops-intensive businesses in India and bring executional muscle to a massive, under-served category. With its full-stack, refurbishment-led approach, Vutto is building the trust and infrastructure this market has lacked—helping keep India on the move. We’re thrilled to lead this round,” said Nishit Garg, Partner, RTP Global.“The used two-wheeler market in India is a huge, untapped opportunity, and also one of the toughest. Rohit and Sitaram are among the grittiest founders we’ve met and the best team to tackle this challenge. We believed in them from the beginning, supporting them when they were just two people with a plan. Now, with three stores, over 50 team members, and more than 1,500 bikes sold, we’re thrilled to continue supporting their journey of solving personal mobility for the Indian masses,” said Sajith Pai, Partner, Blume Ventures. 

    Previously, Vutto has raised a $1 Mn seed round led by Blume Ventures, with participation from founders of Swiggy, OfBusiness, Tracxn, BatterySmart, SuprDaily, Panthera Peak Capital and other strategic angel investors.

  • Big Exit at Meta: $1M Star Hire Rishabh Agarwal Walks Out in Just 5 Months

    Big tech companies are poaching each other’s AI talent to be on top of the AI game in 2025. And Meta’s name comes first. Meta is doing all it can to attract the best talent to strengthen its Superintelligence AI team. It has already hired 50 (20+ from Meta, 13 from Google, 3 from Apple, 3 from Grok, and 2 from Anthropic) from its rivals. Just when all of this is happening, Rishabh Agarwal, a high-profile, high-salaried ($1 million) AI researcher, leaves Meta. What’s so surprising about the exit is that he left the company only after 5 months of joining. What could have caused him to take this tough call? Learn more.

    What Happened?

    Rishabh Agarwal, one of Meta’s top hires this year, joined the company in April 2024. Meta hired him with a whopping $1 million salary package. He worked for about 5 months with Meta and said goodbye to the company on August 25.

    Who Is Rishabh Agarwal?

    Before Rishabh Agarwal, a $1 million hire from Meta, he was a talented AI researcher who worked for Google for over 7 years. Here’s the timeline of his career:

    • He interned at Saavn, Tower Research Capital, and Waymo from 2016 to 2018. 
    • Hired by Google Brain in 2018 as a Senior Research Scientist.
    • In 2023, he moved to DeepMind (Google’s advanced AI company) to work as a Staff Research Scientist.
    • He then became an Adjunct Professor at McGill University in Canada in 2024.
    • Recently, in April 2024, he joined Meta’s Superintelligence Lab as a Research Scientist.

    Education:

    • Rishabh Agarwal studied Computer Science & Engineering at IIT Bombay.
    • Got his PhD in AI at Mila (Quebec, Canada), a world-famous AI research institute.

    Awards:

    He won the Best Paper Award at NeurIPS 2021, one of the world’s largest AI conferences. 

    What Was He Working on at Meta?

    Two months ago, Mark Zuckerberg announced (On July 30, 2025) the Superintelligence Labs (MSL). Meta created a Superintelligence Lab to build superintelligent AI. For the same, Meta hired Rishabh Agarwal, who worked on:

    Post-training for thinking models, meaning making the AI models smarter once they are trained.

    Scaling reinforcement learning methods, meaning training the AI to learn from the trial and error method, but on a large scale.

    Improving distillation techniques involves creating smaller, more innovative, and faster AI models by compressing the big models.

    Why Is This a Big Deal for Meta?

    Meta went on a hiring spree early this year, spending billions of dollars to poach talent from its rivals. It hired people from Google, OpenAI, xAI, and Anthropic. Rishabh was one of those “star hires” for Meta this year.

    However, things are quickly taking a U-turn for Meta and its new hires after the company announced a team reshuffle into four divisions. Rishabh Agarwal was not the only one who left the company; there are more.

    • Avi Verma → Left OpenAI → hired by Meta → now back to OpenAI.
    • Ethan Knight → Left OpenAI → moved to Elon Musk’s xAI → hired by Meta → again back to OpenAI.

    The best talents leaving the company in such a short span is making people wonder why. This is concerning for Meta, given its mission to build the world’s most powerful AI.

    Meta spokesperson Dave Arnold told Wired, “During an intense recruiting process, some people will decide to stay in their current job rather than starting a new one. That’s normal.” 

    Why Did Rishabh Agarwal Leave Meta?

    On August 25, Rishabh wrote on the platform ‘X’ saying he wanted “to take on a different kind of risk”…

    “This is my last week at @AIatMeta. It was a tough decision not to continue with the new Superintelligence TBD lab, especially given the talent and compute density. But after 7.5 years across Google Brain, DeepMind, and Meta, I felt the pull to take on a different kind of risk.”

    Reasons for leaving are still unclear because Rishabh didn’t mention whether he was joining another company, starting his own company, or pursuing a different passion.