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  • Swiggy Shutters 15-Minute Food Delivery App Snacc

    This article was generated by AI and cites original sources.

    Swiggy, the Bengaluru-based food delivery giant, has shut down its standalone app Snacc, which was designed for ultra-fast 10-15 minute food deliveries. Launched in January 2025, Snacc focused on the quick delivery of snacks, beverages, and ready-to-eat items through centrally stocked hubs. This move comes less than a year after its inception, as reported by Entrackr.

    In an internal email, Swiggy highlighted its strong overall food delivery business growth, emphasizing disciplined capital allocation and scalable initiatives. The company’s food delivery segment saw a 20.5% year-on-year growth, attributed to a rise in order volume and increasing average order values (AOVs).

    While Snacc initially operated in select areas of Bengaluru, Gurugram, and Noida, it never saw a national expansion. This closure mirrors similar actions by competitors like Zomato, Zepto Café, and Ola, who paused or restructured their quick-delivery services due to market challenges.

    However, the sector remains dynamic, with reports of fast-delivery startup Swish seeking substantial funding. This indicates ongoing investor interest despite recent setbacks in the quick-delivery space.

    Source: Entrackr : Latest Posts

  • Univest Poised for Profitability as It Expands into Mutual Fund Advisory and Distribution

    This article was generated by AI and cites original sources.

    Wealthtech startup Univest, led by CEO Pranit Arora, is on track to achieve profitability in FY26 as it expands into the mutual fund advisory and distribution business. With a 3.5X year-over-year (YoY) revenue growth to ₹44.1 crore in FY25, Univest aims for a 250% YoY revenue surge, crossing the ₹150 crore mark this fiscal year. Univest’s revenue hike is fueled by increasing subscriptions and growth in its brokerage services, propelling the startup towards financial success.

    Founded in 2022 and based in Delhi NCR, Univest provides advisory services to retail investors through its platform staffed by SEBI-registered advisors. Offering subscription plans starting at ₹5 per day for stock research, Univest boasts over 5 lakh paid users and 75 lakh app downloads. Transitioning into a full-stack trading ecosystem, Univest entered the stock broking segment last year, with broking revenue accounting for 10-12% of overall revenue, set to rise to 30% next year.

    The startup’s strategic move into mutual fund advisory and distribution aligns with its growth trajectory, positioning Univest for increased market presence and revenue diversification. Univest’s journey towards profitability reflects its commitment to expansion in the wealthtech sector.

    Source: Inc42 Media

  • OpenAI CEO Discusses AI’s Impact on the Future Job Market

    This article was generated by AI and cites original sources.

    At the India AI Impact Summit 2026, OpenAI CEO Sam Altman addressed the potential impact of AI advancements on the job market. Altman acknowledged that AI will influence employment opportunities but expressed confidence in our ability to adapt and discover new, more meaningful work.

    Altman emphasized that while AI will impact the job market, historical evidence suggests that technological shifts have consistently led to the creation of new and improved job roles. Concerns over job losses due to automation have been raised, particularly for tasks involving routine, repetitive, or data-driven activities.

    The summit, held in New Delhi from February 16th to 20th, aimed to foster global discussions on artificial intelligence, attracting participants from various sectors including government, industry, academia, and civil society. Altman praised India’s position in the AI revolution, stating that the nation is not just partaking in the AI transformation but leading it.

    Source: mint – technology

  • AI Pioneer Stuart Russell Warns of Catastrophic Risks from Advanced AI Systems

    This article was generated by AI and cites original sources.

    UC Berkeley professor and AI expert, Stuart Russell, has cautioned about the potential catastrophic risks associated with advanced AI systems at the AI Safety Connect Day in New Delhi. Russell emphasized the need for stringent regulations to address the existential threats posed by the rapid advancements in AI technology.

    Russell highlighted the current approach of prioritizing the development of more capable AI systems over safety considerations as a flawed strategy. He expressed concerns about the inherent risks in training large language models on extensive text datasets, emphasizing that simply layering safety measures on top of such systems is inadequate.

    Discussing the ‘King Midas problem’ in AI, Russell pointed out the significance of aligning AI objectives with human values to prevent potential conflicts. He underscored the importance of ensuring that AI systems prioritize human interests to avoid unintended consequences.

    Furthermore, Russell drew attention to the disparity in risk assessments within the AI industry, citing conversations with engineers from leading AI labs who estimate the probability of human extinction resulting from AI developments to be as high as 60 to 70%. This stark contrast with publicly stated risk levels indicates a pressing need for enhanced safety protocols and regulatory frameworks in AI research and deployment.

    Source: mint – technology

  • Edtech Startup Klassroom Files for SME IPO, Highlights AI/ML Capabilities

    This article was generated by AI and cites original sources.

    Edtech startup Klassroom has filed its Draft Red Herring Prospectus (DRHP) to go public on the SME platform of the Bombay Stock Exchange, according to Entrackr. The IPO includes fresh equity shares and an offer-for-sale by existing stakeholders.

    The funds raised will support debt repayment and enhance Klassroom’s technology stack, focusing on AI/ML capabilities, content development, and marketing strategies. This move follows the company’s shift to a public limited entity, as reported by Entrackr last year.

    Established in 2016, Klassroom operates a hybrid learning model that combines an AI-powered education OTT platform with offline partner centers, targeting students from Classes 8 to 12. The company’s approach, which includes recorded and live classes, as well as a franchise-led expansion strategy, sets it apart in the edtech landscape.

    Klassroom’s IPO submission comes as the edtech sector shows signs of recovery. The company has reported commendable financial growth, with revenue surging by 120% to Rs 10.1 crore in FY25 and net profit reaching Rs 2.9 crore. In the first half of FY26, the company reported operating revenue of Rs 12.4 crore and a net profit of approximately Rs 4 crore.

    Source: Entrackr : Latest Posts

  • Razorpay and NPCI Introduce AI-Powered Payments at India AI Impact Summit

    This article was generated by AI and cites original sources.

    Razorpay, a leading digital payments platform, and the National Payments Corporation of India (NPCI) have partnered to introduce a new AI-powered payment solution at the India AI Impact Summit. The innovative platform, called Agentic Payments, is currently being trialed with a select group of users.

    The Agentic Payments solution enables users to seamlessly order food, groceries, and daily essentials from popular services like Zomato, Swiggy, and Zepto without leaving the conversation. By integrating payments directly into the conversational experience, the platform can securely execute transactions on behalf of users, streamlining the entire process.

    The partnership leverages Razorpay’s Agentic Payments technology, NPCI’s UPI infrastructure, and the conversational intelligence of the Claude platform to create a new model of AI-powered commerce. Through UPI Reserve Pay, users can set spending limits for specific merchants and conduct multiple secure transactions without the need for repeated PIN entries, providing real-time visibility, flexible limits, and instant consent revocation.

    With India’s growing digital presence, especially in the food and grocery sectors, the environment is ripe for the responsible expansion of agent-led commerce. This convergence of AI, payments, and consumer trust positions India as a global leader in agentic commerce at a population scale.

    Source: Entrackr : Latest Posts

  • Indian Startups Raise $1.3 Billion, Driven by AI Investments

    This article was generated by AI and cites original sources.

    This week, Indian startups secured $1.3 billion in funding, with 29 companies receiving investments. The funding included a mix of 3 growth-stage and 19 early-stage deals, while 7 startups chose to keep their funding details undisclosed.

    The growth-stage deals saw significant activity, with the AI acceleration cloud platform Neysa leading the pack by raising $1.2 billion in a noteworthy round involving debt and equity. This marked a major milestone in India’s AI infrastructure sector. The wealthtech startup Stable Money secured $25 million in a pre-Series C round, and the EV charging startup Statiq received $18 million through a combination of equity and debt.

    On the early-stage front, funding totaled $86.47 million across 19 deals. The semiconductor startup C2i Semiconductors and the AI application platform Portkey each raised $15 million in Series A rounds, while the fabless semiconductor startup Vervesemi secured a $10 million Series A round.

    Notably, AI startups dominated the funding landscape with 9 deals, followed by fintech and EV startups with 5 and 3 deals, respectively. Bengaluru was the top city for deals, while Mumbai led in total funding, raising $1.2 billion across just 2 deals.

    This surge in funding signifies strong investor interest in Indian startups, particularly in AI technologies, showcasing the country’s growing tech ecosystem.

    Source: Entrackr : Latest Posts

  • Univest Expands into Mutual Fund Advisory with Wealth Multiplier Summit 2026

    This article was generated by AI and cites original sources.

    Univest, a broking superapp, announced its foray into mutual fund advisory at the Wealth Multiplier Summit 2026 held in Delhi. The event marked Univest’s strategic move to enhance its advisory services. The summit, sponsored by HDFC Mutual Fund and presented by Mirae Asset, gathered key players in India’s financial sector to discuss the future of wealth creation and mutual funds.

    The summit featured industry leaders discussing topics like market cycles and the impact of technology on mutual fund advisory. Pranit Arora, Co-Founder and CEO of Univest, emphasized the importance of democratizing access to quality research and asset allocation strategies for all Indian investors.

    Univest’s expansion reflects a shift towards disciplined wealth creation supported by research and expert advice. Co-founded in 2022, Univest operates as a retail advisory platform offering insights across stocks, derivatives, and commodities through its SEBI-registered RA entity, Uniresearch.

    The startup’s recent $10 million Series A funding round led by Bertelsmann India Investments underscores its growth trajectory in the competitive market. Univest aims to carve a niche in the advisory space, competing with players like Liquide, Waya, and Tejimandi.

    Source: Entrackr : Latest Posts

  • PhonePe Enhances User Experience with AI-Powered Search Functionality

    This article was generated by AI and cites original sources.

    PhonePe has introduced a new AI-powered search feature developed in collaboration with Microsoft Foundry, as reported by YourStory RSS Feed. The tool is designed to enhance user experience by enabling seamless navigation, payments, and transaction tracking through intuitive voice or text commands.

    The AI-driven search capability represents an advancement in user interaction within the PhonePe platform. By leveraging artificial intelligence, users can now easily access and manage various services offered by PhonePe with greater convenience and efficiency. The integration of Microsoft Foundry’s technology underscores PhonePe’s commitment to implementing cutting-edge solutions to optimize user engagement.

    With this feature, PhonePe users can expect a more streamlined and intuitive experience when performing transactions and accessing insights related to their financial activities. The incorporation of AI into the search functionality reflects PhonePe’s dedication to staying at the forefront of technological innovation in the fintech sector.

    Source: YourStory RSS Feed

  • Qualcomm and Tata Electronics Collaborate to Boost Local Production of Automotive Electronics in India

    This article was generated by AI and cites original sources.

    Qualcomm Technologies and Tata Electronics have partnered to manufacture Qualcomm Automotive Modules in India. This collaboration will take place at Tata’s new OSAT facility in Jagiroad, Assam, integrating Tata Electronics into Qualcomm’s global module manufacturing network. The primary objective of this alliance is to enhance local production capabilities for digital cockpits, infotainment systems, connectivity solutions, and intelligent vehicle technologies.

    This move aims to strengthen India’s position in the automotive technology sector by fostering domestic manufacturing expertise and technological self-reliance. By leveraging Tata’s manufacturing infrastructure and Qualcomm’s technological expertise, the partnership seeks to cater to the increasing demand for advanced automotive electronics in the region, fueling innovation and economic growth in the Indian automotive ecosystem.

    Source: Tech-Economic Times