Udaan, a B2B ecommerce platform based in Bengaluru, has secured $114 million in funding led by M&G Investments and Lightspeed. The company intends to use the capital to strengthen its presence in the FMCG and staples categories. While maintaining a valuation of $1.8 billion, Udaan reported a revenue growth of over 60% year-on-year in 2024.
Related news
India anticipates a significant surge in the demand for AI professionals, projecting a need for one million skilled workers by 2026. Engineering education is adapting through cross-disciplinary approaches and industry integration to meet this demand. The number of B.Tech seats has increased, particularly in Computer Science and AI-related fields, reflecting the industry's strong need for AI talent.
A Jefferies report indicates that AI implementation may disproportionately affect entry-level white-collar positions, raising unemployment concerns for recent US university graduates. Sectors like sales, customer support, and software development are particularly vulnerable. While some companies report net employment gains, others acknowledge AI-led staff reductions impacting service quality, highlighting the need for proactive skill development and workplace adaptation.
Little Caesars, the world's third-largest pizza chain, is set to launch in India this month, marking its 30th global market. Partnering with Harnessing Harvest, the Detroit-based brand will open its first outlet in the Delhi-NCR region. This expansion comes as India's pizza market is projected to reach $11.8 billion by 2033, dominated by players like Domino's and Pizza Hut.
A recent US Commerce Department report indicates a slowdown in inflation, with consumer prices rising just 2.1% in April. This decline occurs amidst concerns that former President Trump's tariffs could drive prices higher.
MRF is now India's most expensive stock. It overtakes Elcid Investments, whose shares have fallen from a high in November 2024. Elcid's decline is linked to a drop in Asian Paints' stock value. MRF's success is due to strong financial results. The company reported higher profits and revenue for the March 2025 quarter.
Coca-Cola is adopting an "all-weather" strategy in India to boost sales beyond the summer season, focusing on festivals and creating more consumption occasions. Despite early monsoons potentially impacting sales, the company aims to overcome seasonality by offering diverse product choices and healthier options.
India's foreign exchange reserves rebounded, climbing by $6.992 billion to $692.721 billion in the week ending May 23, according to the RBI. This increase was driven by a rise in foreign currency assets and gold holdings.
Zoho cofounder Sridhar Vembu argues that the primary concern with AI and automation isn't job loss, but equitable wealth distribution. He envisions two potential solutions: drastically reduced costs of goods or increased compensation for human-centric roles. Vembu stresses the importance of regulatory oversight to prevent monopolies and ensure automation benefits are widely shared.
The Supreme Court has admitted appeals from Byju's promoters and BCCI regarding the edtech firm's insolvency proceedings. These appeals challenge the NCLAT's refusal to allow insolvency withdrawal, citing a pre-CoC settlement of Rs 158 crore. The promoters argue the settlement was reached before the committee of creditors was formed, seeking to halt the CIRP.
Infosys promoters are set to receive a substantial dividend payout of Rs 2,330 crore, driven by their significant 14.6% stake in the company. Nandan Nilekani and NR Narayana Murthy will earn Rs 175 crore and Rs 65 crore respectively, while even the grandchildren of promoters, like Ekagrah Rohan Murty, are benefiting from substantial dividend earnings.