Two 19-year-old entrepreneurs, who previously collaborated on a number of projects including a ride-hailing commute app for school kids and left Stanford last year to pursue a new startup, said on Sunday they have raised $60 million to disrupt India’s overcrowded and highly competitive grocery delivery market.
Coinbase is acquiring the startup Agara, which operates an AI-powered customer support platform. The size of the deal is between $40 Mn and $50 Mn. Four-year-old Agara, which started its journey in India and runs operations in the U.S. as well, had raised about $7 million from Blume Ventures, RTP Global, UTEC Japan and Kleiner Perkins prior to the acquisition.
Starlink, part of Elon Musk’s SpaceX company, has registered its business in India and is preparing to apply for licenses from the local government, according to a top official. A local unit is required for an internet company to offer its services in India, where Starlink — assuming that it gets the license — plans to offer 200,000 active terminals in over 160,000 districts by December 2022.
It’s deal-making time for generative AI model builders and publishers who can provide them with quality data. Germany publishing giant Axel Springer is trading access to its data for Microsoft adtech, AI, and Azure hosting solutions. Meanwhile, The Financial Times has struck a deal with OpenAI to license its content with attribution of summaries and quotes.