Today's Capsule
Chargesheet filed in Paytm data theft case, Licious raises $25M; RBI governor Urjit Patel resigns

chargesheet has been filed by Noida Police in the Paytm data theft case. The four accused - Sonia Dhawan, husband Rupak Jain, Devendra Kumar and Rohit Chomal – are said to have been charged under multiple sections including theft, extortion, and criminal conspiracy. This comes after Paytm’s senior vice president Ajay Shekhar Sharma filed an FIR in connection with the case dubbed “criminal data-theft of a severe nature.”

Paytm


Inside the Hyderabad success story as it emerges as new entertainment-tech hub

Visual effects is the new buzz word when it comes to the Indian film industry. Whether it is Rajinikant’s action-packed sci-fi thriller 2.0 or the Aamir Khan-starrer Thugs of Hindustan, of late, films have been banking majorly on the use of AR, VR, and VFX. In the light of this new wave, though, Hyderabad, with its reserve of talent and resources, has emerged as the epicentre of all action.

Visual effects the new craze in town


Elon Musk: “I want to be clear: I do not respect the SEC”

Tesla CEO Elon Musk just took another potshot at the US financial regulatory body, Securities and Exchange Commission (SEC). During his latest 60 Minutes interview with CBS, the serial tech entrepreneur touched base on his September agreement with the SEC. While he asserted that he will be abiding by the terms of the deal, he didn’t hesitate on calling out the agency saying, “I want to be clear: I do not respect the SEC.”

He went on to add, that he is free to tweet what he wants.


Bengaluru-based Licious raises $25 M funding led by Japan’s Nichirei Corp

Licious, the fresh meat and seafood brand based in Bengaluru, has raised $25 million funding in Series-D round from Nichirei Corporation, pioneer in Japan’s food industry. The round also saw participation from existing investors like 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, UCLA, and Sistema Asia Fund. “These funds will greatly aid our vision to build an Indian food brand with a global outlook," explained Abhay Hanjura and Vivek Gupta, co-founders of Licious.

L-R - Vivek Gupta and Abhay Hanjura


GSF Accelerator announces $1 M seed investment in four deep tech startups

As part of its sixth batch, GSF Accelerator has invested $1 million in seed funding in four deep tech startups – Chizel, Khabri, Slintel, and Vaultedge. The focus areas of these chosen companies range from manufacturing tech to vernacular content marketplace, AI-driven sales analytics and deep learning legal and fintech. Dishing on their strategy, Founder Rajesh Sawhney says, “The cycle of ecommerce and delivery companies has played out. The next generation of startups will have deep tech orientation.”


Urjit Patel resigns as RBI governor on account of personal reasons

Reserve Bank of India (RBI) Governor Urjit Patel has resigned from his position before the completion of his tenure, which was supposed to end in September 2019. He cited personal reasons behind this sudden decision that comes against the backdrop of considerable tension between the government and RBI on various policy issues.

Image : Bloomberg


After Halli Labs, Google acquires Sigmoid Labs, the parent company of Where Is My Train

Almost a year after its first acquisition in India – Bengaluru-based AI startup Halli Labs – online search giant Google has taken over Sigmoid Labs. Incidentally, Sigmoid Labs also happens to be the parent company of the popular train tracking app, Where Is My Train. If media reports are to be believed, the deal size ranged between $30 and $40 million.


How this expedition doctor came up with the idea of a single antidote for snakebites

In most cases of snakebites, finding an anti-venom is not the problem but deciding which one to use. Following his years of experience as an expedition doctor, Matthew Levin, the founder of San Francisco-based Ophirex, has turned his attention to this grave problem. He has created small molecule therapeutics that can ensure treatment “anywhere, anytime, by anyone".


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