Tech-The Economic Times - Seite 3 
PhonePe’s Pincode exits non-food categories in ecommerce business rejig
PhonePe is restructuring its ONDC strategy by exiting several non-food categories. The Walmart-owned company unveiled its ecommerce venture Pincode on ONDC in 2023 offering grocery, food delivery, medicines, fashion and electronics among other categories on the network.
Legal issues have intensified for Good Glamm group as disputes over payments and investments have emerged. The company has initiated arbitration against Indian Angel Network, which served Good Glamm with a default notice. The company has also been facing senior executive exits and cost-cutting measures that led to laying off 150 employees.
US seeks 36 months in jail for Binance founder Changpeng Zhao
Binance's founder, Changpeng Zhao, may serve 36 months in prison for money laundering violations. U.S. prosecutors push for this sentence due to the firm's ties to terrorist groups, child abuse materials, and large fines.
LetsTransport bags $22 million in funding round led by Bertelsmann
LetsTransport raised $22 million led by Bertelsmann India Investments, with key participation from various investors. The funds will support market expansion, business vertical scaling, and profitability goals. The startup aims to enhance logistics competitiveness and achieve financial milestones by 2025.
Explainer: What happens now that US TikTok bill has been passed?
ByteDance has 9 months to divest TikTok after Biden signs the bill. Potential injunctions could affect the sale process. Previous attempts by Trump and Biden regarding TikTok and WeChat bans are referenced in the article.
Tesla could start selling Optimus robots by the end of next year, Elon Musk says
Elon Musk plans to sell Tesla's humanoid robot, Optimus, to address labor shortages. Other companies like Honda, Hyundai's Boston Dynamics, Microsoft, Figure, BMW are also investing in humanoid robots for different industries.
US Senate passes TikTok divestment-or-ban bill, Joe Biden set to make it law
U.S. Senate approves bill for ByteDance to divest TikTok within 9 months, addressing national security concerns. President Biden will sign the legislation, impacting the future of Chinese-owned apps in the U.S.
China's Huawei launches new software for intelligent driving
Huawei introduces Qiankun for intelligent driving to dominate the electric vehicle industry, aiming for 500,000 cars with Huawei self-driving by 2024. The company aspires to be a major player in the intelligent EV era.
Tesla to lay off over 6,000 employees in Texas, California, notices show
Tesla plans 6,020 job cuts in Texas & California, 12% at Austin gigafactory. Musk to address falling demand & $25,000 car cancellation due to high interest rates. Buffalo, NY sees 285 job cuts.
IT sector's rising contractual hiring shows demand uptick
India's IT industry is rebounding with a rise in contractual hiring, signaling recovery after layoffs and reduced bench strength. Staffing firms note increased demand for temporary contracts as companies prepare for future growth.
PhonePe’s Rs 800 crore in-house bets; layoffs at Allen
Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch.
Snacks maker Adukale raises Rs 11 crore in funding round
Adukale, a D2C snacks and instant foods maker, was founded in 2009. The startup sells a variety of snacks and instant food ingredients for dishes like dosa, idli and poha. This capital will primarily be used for expansion of the company’s offline presence.
Bubble tea brand Boba Bhai raises Rs 12.5 crore from Titan Capital, others
Boba Bhai, a quick-service restaurant (QSR) brand specialising in bubble tea and other food items, said it will use the capital for its plan to expand to 100 outlets within the next 12 months. "Our goal is to expand in tier-1 cities within the next six months and then go to tier-2 and tier-3 cities,” founder Dhruv Kohli said.
InterGlobe’s Rahul Bhatia, CP Gurnani launch AI company AionOS
AionOS will use predictive learning using AI and machine learning to offer customised solutions in the logistics, travel, transportation, and hospitality space. The new JV will be based in Singapore with fulfilment centres in Noida, Hyderabad, the US, the UK, Paris, Africa, and the Middle East.
PhonePe poured bulk of Rs 800 crore investments into insurance business
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.