Fresh capital for Geniemode; Third Unicorn in talks to divest CrickPe

Hello,

Is the AI party getting a bit too crowded? 

Microsoft has canceled some leases for US data center capacity, sparking whispers that it may be hoarding more computing power than it needs in the long-term (at least according to TD Cowen analysts). 

Meanwhile, hedge funds are ditching US tech and media stocks faster than last season’s fashion trends. All eyes are on NVIDIA—the poster child of the AI boom—as it gets ready to report earnings soon. 

The key question will be how hot is the demand for its pricey AI chips, especially now that low-cost AI models and open source commitments from DeepSeek have shaken up the playing field. 

Can the world’s second-most valuable company keep its crown in the GenAI race? That remains to be seen.

Meanwhile, the Screen Actors Guild awards saw some familiar names, and some surprise picks bag the top prizes. 

Papal thriller Conclave, with its dream cast of Ralph Fiennes, Stanley Tucci, John Lithgow and Isabella Rossellini won best movie ensemble, while Timothee Chalamet shocked everyone by beating Adrien Brody (The Brutalist) with his portrayal of Bob Dylan. 

Catch the complete list of winners here. 

Next stop, the Oscars!

In today’s newsletter, we will talk about 

• Geniemode raises over $50M
• Third Unicorn in talks to divest CrickPe
• Director Arati Kadav on the making of Mrs.

Here’s your trivia for today: Which pizza chain was the first to deliver a pie to space?

Funding

Geniemode raises over $50M

Gurugram-based Geniemode, a design-led apparel sourcing platform, on Monday said it secured over $50 million in a Series C funding round led by Multiples Alternate Asset Management Pvt Ltd, Fundamentum, Paramark Ventures, and Info Edge ventures.

Key takeaways:

• The company will use the investment to expand globally, enhance its tech-driven supply chain, and enter new markets.
• Founded in 2021 by Amit Sharma and Tanuj Gangwani, Geniemode streamlines supply chains for global brands and retailers, ensuring transparency, efficiency, and cost-effectiveness.
• With a presence across 10+ countries, the startup works with 200+ global buyers and suppliers, providing end-to-end capabilities—from trend-driven design intelligence to optimised manufacturing and delivery.

<Funding Alert>

Startup: Geniemode

Amount: $50M

Round: Series C

Startup: Oxyzo

Amount: Rs 100 Cr

Round: NCDs

Startup

Third Unicorn in talks to divest CrickPe

Third Unicorn-housed CrickPe brand is currently in talks to be divested from the company, according to Co-founder Ashneer Grover. The brand has struggled amid misplaced ideas with gambling and high GST levied on the sector.

Splitting:

• The fantasy cricket brand, which was launched before the 2023 Indian Premiere League (IPL), has been halted since the end of last year.
• CrickPe, as opposed to its peers like Dream11 and MPL, had an option that allowed real-life cricketers to amass a portion of the cash rewards.
• The online gaming sector has been struggling with a GST of 28% levied on these platforms, which has affected profit margins and user growth in the sector alike.

Entertainment

Director Arati Kadav on the making of Mrs.

Sanya Malhotra-starrer Mrs., an adaptation of the Malayalam film The Great Indian Kitchen, is director Arati Kadav’s take on the many manifestations of patriarchy, primarily the invisible female labour in the kitchen. 

Since its release in early February, the film has struck a chord with women across age groups, who find themselves confined to household chores and are unable to break free from societal constraints. YS Life speaks to director Arati Kadav on the making of the film. 

Breaking barriers:

• Mrs is a huge transition for Kadav, who has earlier directed sci-fi films like Cargo. But something “felt right” about taking on this project, says the filmmaker. 
• She says that co-writers Harman (Baweja) and Anu Singh Choudhary wanted Mrs. to be as close to the original. “As a director, I felt it is a nuanced-based film; a micro surgery on your everyday life,” Kadav adds.
• The filmmaker says she is working on a sci-fi story with Deepa Motwane and another mainstream sci-fi filmmaker with Sumit Purohit. 

News & updates

• Commitments: Apple said it plans to spend more than $500 billion over the next four years to expand its manufacturing footprint in the U.S. The iPhone maker also pledged Monday to hire around 20,000 people during that time span and build a new factory in Houston that will create thousands of jobs.
• Layoffs: Starbucks said on Monday it would eliminate 1,100 corporate roles as CEO Brian Niccol pushes ahead with his turnaround efforts at the coffee chain that has been struggling with falling sales.
• Consolidation: Technology investor Prosus agreed to buy Just Eat Takeaway.com for $4.29 billion, using the war chest it built by selling part of its Tencent stake to bulk up its food-delivery arm.

Which pizza chain was the first to deliver a pie to space?

Answer: Pizza Hut.

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