• Fri. Mar 24th ,2023


Lentra raises $60M with backing from Citi Ventures for global expansion

Indian AI-powered digital lending startup, Lentra has reportedly raised $60 million in a series B round and has now reached a valuation of more than $400 million, according to founder and CEO, D Venkatesh. The funding round was led by existing investors, Susquehanna International Group (SIG) and

Big Brother Watch files complaint against PimEyes over stalking concerns

British privacy campaign group, Big Brother Watch has reportedly raised a complaint against PimEyes, a reverse image search engine and facial recognition software. For the unversed, with PimEyes, people can look for faces in images posted publicly on the internet. The privacy campaign group cl

Lidar tech firms Velodyne and Ouster merge to boost competitiveness

Lidar tech rivals, Velodyne and Ouster have reportedly agreed to merge, bringing together a total market value of $400 million. The two companies stated that they will be partnering to increase competitiveness in the market which has been seeing a drop in valuation as investors grow disillusioned

Alibaba Cloud launches open-source MaaS platform with 300+ AI models

Alibaba Cloud, the cloud computing subsidiary of Alibaba Group, has reportedly launched over 300 ready-to-use artificial intelligence models through an open-source Model-as-a-Service (MaaS) platform. During its annual company conference this week, Alibaba stated that its ModelScope platform for A

Chinese tech firms foray into Europe e-commerce sector, take on Amazon

In a move geared towards selling Chinese products to customers overseas, Pinduoduo and ByteDance have become the latest companies from China to launch their international e-commerce websites. According to reports, the launch sets the two Chinese tech firms up as competition to American giant Amaz

EU telcos demand US tech giants to fund network infrastructure upgrade

Telcom groups in Europe are demanding that the region’s regulators implement a framework where the firms that send heavy traffic along their networks are charged a fee to fund the massive upgrades telcos are making to their infrastructure. Known as the ‘sender pays’ principle, t

UK: Ofcom chief says tech giants cannot self-regulate their metaverse

Melanie Dawes, Chief Executive of UK media regulator, Ofcom, has reportedly warned that the metaverse that tech giants like Meta and Microsoft are foraying into will be subjected to new rules that will ensure that these platforms protect users from online harm. During an event in London, Dawes st

Spotify sees low Q3 profit margins amid sluggish ad growth, falls 4%

Music streaming giant Spotify Technology SA announced that its profit margins for this year’s third quarter declined due to slow advertising growth, fueling concerns about the impact of a weak global economy on digital advertising. Following the announcement, shares of Spotify fell 4% durin

Euro digital bank N26 set to launch crypto trading service in Austria

German neobank, N26, has reportedly announced that it will be launching a crypto trading service called N26 Crypto in Europe. As per reports, the digital bank has selected Austria to be the first market where the service will be launched. Supposedly, the service will be made available to the bank