One Thing Today in Tech
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Infosys to add four tier-2 hubs; Sequoia raises $2.85 bln for India and SEA; Spotify buys Top Gun voice AI company Sonantic
Infosys is setting up four more delivery centres in India's tier-2 cities to allow staff to work closer to their hometowns, and tap a wider talent base, Economic Times reports, citing Krishnamurthy Shankar, the IT services company's head of human resources. Sequoia raises its largest India fund yet. And Spotify adds a voice AI team and tech via an acquisition
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Google to pay $118 million to 15,500 women in gender-discrimination case; Ed-tech company's co-founder threatens teachers with 'blacklisting'
Google has agreed to pay $118 million to settle a class-action gender discrimination lawsuit with around 15,500 women, according to a statement from the law firms representing the women. Meanwhile, The UK's competition regulator wants to investigate how Apple and Google use their mobile phone dominance to kill competition. And an ed-tech company's co-founder wants to blacklist teachers if they seek better prospects, ET reports
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Infosys expands TK Elevator mandate; Chris Sacca's Lowercarbon Capital makes first India investment
SolarSquare, a Mumbai startup, has raised $4 million led by Google Capital, with participation from US investor Chris Sacca's Lowercarbon Capital, Singapore's Symphony Asia and Nithin Kamath's Rainmatter. The investment, the $1 billion Lowercarbon fund's first in India, also saw participation from Better Capital, Climate Angels and several angel investors. And Infosys has expanded its work for German lift maker TK Elevator
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EU makes USB-C the standard, in a blow to Apple; new glitches in Infosys-developed tax portal
European Union countries and EU lawmakers on Tuesday have reached a 'provisional agreement' on a single mobile charging standard for devices in 15 different categories including mobile phones, laptops, tablets and cameras, TechCrunch reports. This will make the USB-C charger the EU standard, and equipment makers will have to comply by 2024. And Infosys has been asked, again, to fix new glitches in the income tax portal it made for India
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India to create appeals body for social media complaints; Apple shows off new MacBooks; Zomato to buy Blinkit
India's central government is planning to create an appeals body where people can complain against social media posts, instead of having to go to the courts, according to a press release by the country's ministry of electronics and information technology. Apple's WWDC is underway, and new laptops and software have been showcased. And Zomato is set to buy Grofers, now called Blinkit
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India's digital payments projected at $10 tln by 2026; Coinbase extends hiring freeze; NASA outsources spacesuits
India's digital payments industry will triple to touch $10 trillion in total transaction value by 2026, according to a report by PhonePe, Walmart's Indian fintech unit, and BCG. Coinbase is extending its hiring freeze indefinitely. NASA is outsourcing its Lunar spacesuit development to two companies including Axiom Space, which is backed by investors including India's Sanjay Mehta
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Sheryl Sandberg to leave Facebook parent Meta; Coralogix, MoEngage, Slice raise funding
Sheryl Sandberg said in a post yesterday that she is stepping down from her role as Chief Operating Officer at Meta, formerly known as Facebook, after 14 years at the company. Javier Olivan, the company's chief growth officer, will take over as COO. Sandberg will remain on Meta's board of directors. And some startups continue to find funding amid the current slowdown
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Tata Digital taps Mad Street Den as 'AI partner of choice'; Apple supplier plays down lockdown impact; Liminal raises $4.7 mln
Tata Digital has partnered with Mad Street Den, an AI platform provider, to make Tata Neu, the so-called 'super app' it is developing for retail consumers, a more personalised and connected experience for users. Apple supplier Foxconn says the impact of March Covid lockdowns in China is lower than expected on production. And crypto startup Liminal raises more funding
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Google leads $300 mln funding at Sharechat parent; Airbus sets up an H2 R&D facility in the UK; One AI raises $8 mln
Amid a funding slowdown, Sharechat's parent Mohalla Tech is expected to announce a $300 million funding round led by Google, India's Times Group and Singapore's Temasek, Reuters reports. Airbus has set up an R&D facility in the UK for cryogenic fuel technologies for its proposed hydrogen planes. One AI, an Israel and Silicon Valley NLP company has come out of stealth mode, raising $8 million in seed funding
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Broadcom to acquire VMware for $61 bln; Meta updates privacy policies; Google exploring joining India's ONDC
Broadcom has agreed to pay $61 billion for VMware, as the semiconductor giant looks to expand into cloud software for enterprises, making it the biggest tech deal this year after Microsoft's $68 billion deal to buy games maker Activision Blizzard in January. Facebook parent Meta is updating its privacy policies. And Google is exploring ways to join India's open network for digital commerce, Economic Times reports
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Sequoia to founders: Prepare for the long haul; Andreessen Horowitz commits $4.5 bln more to crypto's 'golden era'
Sequoia Capital, one of the world's best-known venture capital firms, has warned founders of its portfolio companies that the flow of cheap money is over, and investors now have a distinct preference for ventures that can generate cash today. Andreessen Horowitz, meanwhile, has announced massive crypto and Web3 fund. And Snowflake is the latest tech company to warn of a slowdown