India’s tech news headlines
December 2022 summary
The December 2022 round-up of India’s tech, startup and VC news headlines touched on items in subjects as diverse as the use of artificial intelligence and IoT in agriculture, e-sports funding, new venture capital funding available for sports-tech, digital ID for e-commerce, and many more. Hit the links below to read each article in full, online.
You can also get Startup News Asia’s tech news updates in our weekly newsletters, via Substack and LinkedIn.
India: Retail & E-commerce Trends Report 2022 (pdf link)
- Reserve Bank of India to commence retail CBDC pilot project from December 1st, with select locations and closed user groups using a digital token that represents legal tender
- India: “The [Enforcement Directorate] has also charged Vivo India for money laundering, alleging more than 50% of its turnover has been transferred to China to avoid paying taxes…”
- India: Gamerji e-sports tournament platform raises $3M Pre-Series A, with sights on MENA and SEA expansion, and introduction of E-sports-as-a-Service
- India: ‘Digital transformation’ spending projected to reach $85BN by 2026, according to International Data Corp report
“Research, manufacturing (discrete and process), professional services, banking, government, retail, and telecommunications will be the top industries spending on DX in India, as per the latest report from IDC India.”
- India: Former Flipkart exec lands $5.8M seed funding with Flash, a digital identity for shoppers to use across retail sites making order processing, communication with sellers and rewards programs easier
- India: Gov’t is considering making ‘net and social media firms legally ‘accountable’ for algorithms deployed to tailor content based on browsing history and user profiles
- India: MoneyyApp, platform for SMEs, digital solo-preneurs and creators, raises pre-seed funding from AngelList Early Stage Quant Fund, with sights on services for India’s 100M creators and 63M MSMEs
- India: Cricket start Shikhar Dhawan launches $75M VC fund focusing on sporting tech and innovation
- India: Ministry of Electronics and Info Tech Startup Hub and Google unveil Appscale Academy and plans for multi-city roadshow to engage 1000+ startups across emerging hubs
- Download: The Startup Economy Report 2022, from India’s StrideOne (pdf)
- India: Virgio ‘fast fashion’ startup secures $37M Series A, digitizing from design to purchasing to streamline overall production
“Since its launch, the app has recorded more than 100,000 downloads. The platform currently has about 20,000 daily active users. Virgio was described as the Indian version of the controversial fast-fashion giant Shein.”
- Startup India Innovation Week is set for January 10–16, with webinars and in-person events scheduled
- India: An intro to Carnot Technologies, helping farmers to make data-driven decisions to earn up to 30% more using IoT and artificial intelligence
- India: Startup India Seed Fund Scheme approves 126 incubators, with 656 startups selected for participation
- India: A wish list for the 2023 Budget: ‘India needs to emphasize on capacity building for emerging sectors, aid startups for country’s march to the top’
- “India loves religious festivals, but are its citizens ready to attend such celebrations in virtual reality?”
- India: Ola CEO blog calls for alternate supply chain to curb the country’s increasing dependence on China for lithium, proposing partnerships with Australia, Chile, Argentina and others
Lowy Institute: Asia Power Index, 2023 edition
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