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HCLTech CEO Vijayakumar salary climbed to over $10 million

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This makes Vijaykumar the second highest paid CEO of an Indian IT company after Wipro’s former chief Thierry Delaporte’s $20 million (around Rs 166 crore) compensation for FY24. In FY24, HCLTech led revenue growth for the industry at Rs 109,913 crore, up 8.3% year-on-year, and net profit at Rs 15,702 crore, up 5.7% year-on-year.

Economic Survey: India saw tech startup surge post Covid pandemic

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Economic Survey highlighted, startups recognised by the government – more than 1.17 lakh as of December 2023 – have created over 12.42 lakh direct jobs in the country. Finance minister Nirmala Sitharaman tabled the Economic Survey 2023-24 in parliament on Monday. The top sectors for startups in 2023 were edtech (16%), enterprise tech (12%), BFSI (10%) among others.

India’s pet retail on its way up as Upstox founders invest in pet brand ‘Pet Warehouse’

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Pet Warehouse, founded November 2021 in Bengaluru, secured funds from Upstox’s Ravi Kumar and Kavitha Subramanian. Expanding to 25+ stores and 10+ superstores in South India, mentored by Anil Reddy. Their user-friendly site and Chippi product line highlight a commitment to quality, positively impacting pet parents with affordable, innovative products.

Edtech startup Adda247 unveils first ever Esop buyback

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Google-backed edtech startup Adda247, founder and chief executive Anil Nagar said that this employee stock ownership plan (Esop) buyback represents a pivotal moment for the company. The edtech firm recorded revenue of Rs 243.39 crore in FY24 and has about one million paid users, aiming to increase this number to 1.7 million by the end of this year.

JioTag Air launched in India: Now easily track everything from pets to keys. Check price, features, availability

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Reliance Jio has launched the JioTag Air, an affordable asset tracker priced at Rs 1,499, offering a cost-effective alternative to Apple’s AirTag. The compact device helps users track valuables like keys, wallets, and luggage. It is compatible with both the Apple Find My network and the JioThings app, emitting a loud sound to locate items and providing disconnection alerts.

Fintech the cornerstone to help India achieve financial inclusion: Economic Survey 2023-24

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Highlighting the role played by government-promoted open platforms and fintech players in the country’s progress, the Economic Survey said India is the third largest fintech market in the world.

The data that powers AI is disappearing fast

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Web data restrictions impact AI models like ChatGPT. MIT’s study finds 25% of top-quality data restricted. Smaller firms use synthetic data due to licensing costs. Deals with AP and News Corp are struck. Researchers worry about a consent crisis, as robots.txt compliance varies. Perplexity AI addresses this issue.

Edtech startup Bluelearn shuts shop, to return 70% of capital to investors

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Bluelearn, a well-funded upskilling platform, has announced its shutdown and plans to return 70% of raised capital to investors. It is latest to join the list of Indian Edtech platforms that closed down.

Nvidia preparing version of new flaghip AI chip for Chinese market

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Nvidia’s B20 chip for China, part of the Blackwell series, meets 2023 U.S. export controls. Collaborating with Inspur, its official announcement is pending. U.S. export regulations aim to prevent China’s military advancements. The B200, a speedy chatbot response chip, is part of this series. Production is set for this year.

Byju's founder Byju Raveendran faces reckoning as startup implodes

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Potential insolvency is a dramatic turn of events for an entrepreneur described by one person who has worked with him as an extremely passionate and goal-oriented person who might adopt “an abrasive approach” in a crisis.