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Kaiser may steer $250 million funding in SaaS firm Innovaccer at flat valuation

Kaiser Permanente to invest $200-250 million in Innovaccer, with valuations dropping to 10-15x. Mubadala joins the new round. Innovaccer digitizes patient data for US healthcare firms like Orlando Health, MercyOne, and CommonSpirit Health.

Information Tech (IT)

LTTS wins $48 million deal with European auto parts supplier Forvia

Morning Dispatch

Top tech and startup stories to begin your day

Tech & Internet

Freshworks rejig: Founder Girish Mathrubootham to be executive chairman

Freshworks rejig: Founder Girish Mathrubootham to be executive chairman

Tech & Internet

ONDC’s first buyer side logistics app to fix a big gripe

Tech & Internet

Micron to roll out first India-made chips from Sanand unit in 2025

Micron India's Sanand unit focuses on exporting chips. Anand Ramamoorthy highlights global demand, partnerships, and multiple sector usage. Emphasis on agility and talent scarcity in niche sectors like cybersecurity.

Tech & Internet

Coders run a summer script: stay hydrated

IT firms in southern India prioritize employee wellbeing during the scorching summer. Companies implement measures like webinars, flexible work hours, and enhanced facilities. Employees are urged to stay hydrated, limit commuting, and return to offices post-pandemic for health benefits.

Poll of the Day

Will Wipro's fortunes reverse under a new CEO?

Tech Trending: Samsung Galaxy S24 world coin crypto Sam Altman News Sam Altman OpenAI Greg Brockman ET Soonicorns Summit 2023 Live Byjus private equity funds Zomato Indore video Krishna Raghavan ChatGPT revenue

Information Tech (IT)

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Startups

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DoorDash posts better-than-expected Q1 sales but shares fall on cost concerns
DoorDash said its net loss narrowed to $23 million in the first quarter, compared to a loss of $161 million in the same period a year ago. The loss, of 6 cents per share, was higher than the 3-cent loss Wall Street had forecast, according to analysts polled by FactSet. DoorDash said it increased both marketing expenses and research costs during the quarter.
Kaiser may steer $250 million funding in SaaS firm Innovaccer at flat valuation
Kaiser Permanente to invest $200-250 million in Innovaccer, with valuations dropping to 10-15x. Mubadala joins the new round. Innovaccer digitizes patient data for US healthcare firms like Orlando Health, MercyOne, and CommonSpirit Health.
Ecom Express posts 20% rise in FY23 revenue to Rs 2,548 crore, loss widens
Novo Nordisk owner to invest $200 million in quantum computing startups

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Innovaccer’s new funding round; ONDC’s logistics push

Innovaccer’s new funding round; ONDC’s logistics push

Happy Thursday! SaaS startup Innovaccer is in discussions to raise funding at a flat valuation of $3 billion. This and more in today’s ETtech Morning Dispatch.

02 May, 2024

New growth markets for IT firms; Stride Ventures closes third fund

New growth markets for IT firms; Stride Ventures closes third fund

Indian IT firms are seeing rapid growth in new geographies amid a slowdown in their established North American market. More on this in today’s ETtech Top 5.

01 May, 2024

RBI scanner on gold loan startups; setback for P2P lending firms

RBI scanner on gold loan startups; setback for P2P lending firms

Happy Wednesday! After the central bank's action on IIFL Finance, concerns have been raised over gold loan evaluation by fintechs and their partner banks. This and more in today’s ETtech Morning Dispatch.

01 May, 2024

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Tech & Internet

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Microsoft announces $2.2 bn AI, cloud investment in Malaysia
Microsoft pledged a $2.2 billion investment in artificial intelligence and cloud computing in Malaysia on Thursday to help develop the country's AI infrastructure. The pledge comes after he announced a $1.7 bn investment in Indonesia, as well as Thailand's first data centre region this week to boost cloud and artificial intelligence infrastructure.
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
Chief executive officer Kwak Noh-Jung said the Nvidia supplier and the world's second-largest memory chipmaker will begin sending samples of the latest version of HBM chips, called 12-layer HBM3E, in May and begin mass producing them in the third-quarter.
Girish Mathrubootham steps down as Freshworks CEO; Dennis Woodside takes charge
TVS Electronics' new SMT line set to focus on defence and railways

The Catalysts

Tech Bytes

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BluSmart rides out of FY24 with Rs 390-crore revenue in the boot
BluSmart aims for Rs 800 crore FY25 revenue, with BP Ventures support. Competing with Rapido, Namma Yatri, targeting Ebitda profitability by 2026. Founder Jaggi under investor scrutiny for Dubai connections.
- Paytm Payments Bank’s wallet business fading fast as restrictions bite
- Swiggy confidentially files draft IPO papers for $1.25 billion public listing
  Swiggy, which secured a nod from its shareholders for a $1.25 billion public listing earlier this week, has made the filings through Sebi’s confidential route.
- Blinkit contributes more to Zomato’s market cap than its food delivery biz: Goldman Sachs
  Blinkit boosts Zomato's value surpassing its food delivery business. Blinkit’s implied value is Rs 119 per share, while Zomato’s food delivery business is valued at Rs 98 per share.
- Pine Labs' Setu names former SAP executive Anand Raisinghani new CEO

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