One Thing Today in Tech
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TCS faces US class action over alleged discrimination; NotCo raises $70 mln; smartphone addiction hurting marriages
Tata Consultancy Services, India's biggest IT services company, is facing a class-action lawsuit in the US, the company's biggest market. TCS has been sued by Shawn Katz, a former employee, who alleges that the IT giant discriminates against non-South Asian and non-Indian applicants and employees, Money Control reports. Also in this episode, Vivo's latest Switch Off report shows smartphone addiction is hurting marriages, and NotCo, backed by Jeff Bezos, has raised $70 million in series D1 funding, led by Princeville Capital
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Google joins Apple in passkey push; Air India in talks for 500 planes; Cropin raises $14 mln
Google, last week, followed Apple, in releasing its version of what's called a passkey, which if widely adopted could take us closer to a passwordless future. Air India is close to placing historic orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing, Reuters reported yesterday, citing industry sources. Also in this episode, opposition to Blackrock's ESG investments in the US is spotlighting the travails of climate finance
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Einride raises $500 mln to boost electric freight ecosystem; Blume Ventures raises $250 mln fund
Einride, a freight mobility technology company, said yesterday it has raised $500 million in financing, comprising $200 million in Series C equity investment and a $300 million debt facility. Blume Ventures has announced the close of its Fund IV at more than $250 million, bringing its assets under management to more than $600 million. Apple has delayed the launch of its EV, and separately, is being sued over AirTags. And Microsoft offers a 10-year deal to bring Call of Duty to Nintendo
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Sorrento gets US FDA nod for mRNA Covid-19 vaccine trial; One Peak closes $1 bln fund; NeuReality raises $35 mln
Sorrento Therapeutics has received clearance from the US FDA to initiate clinical trials with its new mRNA vaccine against Omicron variants of the Coronavirus. One Peak, an investor in growth-stage B2B software companies in Europe and Israel, has closed its latest fund at $1 billion, Private Equity Wire reported yesterday. Israeli AI inference chip venture NeuReality has raised $35 million in series A funding. Apple added 700 new price points to the App Store. And Amazon may be close to launching Prime Gaming in India
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Apple may bring iPad assembly to India; Microsoft hikes India prices by up to 11 pct; HealthKart raises $135 mln
Apple may bring some of its iPad production to India from China if talks with the Indian government are successful, CNBC reported yesterday, citing two sources close to the government. Microsoft has hiked prices in India by up to 11 percent to match prevailing dollar-based pricing in Asia, the company said in a post. And nutritional supplements seller HealthKart has raised more money in a funding round led by Singapore's Temasek, TechCrunch reports
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DoT tells telcos to keep 5G away from airports — report; DeHaat raises $60 mln from Temasek, others
India's Department of Telecommunications has told the country's top telcos to stop setting up 5G networks close to airports, over concerns that they could interfere with airplane instruments, Press Trust of India reports. India's EV scooter sales continue to grow as established players raise their game. And in agri tech, DeHaat, one of the biggest startups in the sector, has raised series E funding from Temasek, Sofina and existing investors
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Google faces $25 bln claims; Tata may buy Wistron iPhone factory; SF police can now use robots to kill
Google will face damages claims for up to 25 billion euros ($25.4 billion) over its digital advertising practices in two lawsuits to be filed in British and Dutch courts in the coming weeks by a law firm on behalf of publishers, Reuters reports. Tata Group is looking to buy a facility in Bangalore, from Apple contract manufacturer Wistron, Economic Times reports. And San Francisco's board of supervisors voted in an 8-3 majority in favour of a proposal to allow the city's police to use robots to kill, in extreme circumstances, TechCrunch reports
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India's e-rupee pilot to begin from tomorrow; RBI rejects PhonePe, Razorpay NBFC bids — report; Vikram Kirloskar dies at 64
India will conduct the first pilot of the e-rupee for retail digital currency on December 1, Reserve Bank of India, the country's central bank said yesterday in a statement. Meanwhile, the central bank has rejected the NBFC licence applications of some well-known fintech startups, The Hindu Businessline reports. And Vikram Kirloskar, the well-known industrialist, widely seen as being responsible for bringing Toyota to India, died yesterday, reportedly of a heart attack. He was 64
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AWS pledges to go water positive by 2030; iPhone rumour: no physical buttons next; Table Space raises $300 mln
Amazon Web Services at its annual re:Invent conference, which began yesterday, said it will be water positive by 2030, returning more water to communities than it uses in its direct operations, according to a press release. Table Space, a co-working space provider, has raised $300 million in fresh funding, Economic Times reports. And the high-end versions of next year's iPhones may not have physical buttons and use haptic tech, according to some of the latest rumours
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Dhruva, Pixxel, send satellites to space; Paytm asked to resubmit payments aggregator papers
The Reserve Bank of India has asked Paytm Payments Services Limited to resubmit the application to operate a payments aggregator business, barring it from adding online merchants while the approvals remain pending, Mint reports. Satellite ventures in India step up their efforts in India. Pixxel in Bengaluru and Dhruva in Hyderabad together sent three more satellites on an ISRO rocket last week, adding capabilities from amateur radio to hyperspectral earth imaging for climate change mitigation
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Amazon Academy to wind down; Ultraviolette launches performance bike F77; Transition VC targets Rs. 400 crore first fund
Amazon will be shutting down Amazon Academy, an online learning platform it launched in India for high-school students last year, TechCrunch reports. Ultraviolette Automotive, an EV technologies company, yesterday announced the commercial launch of its first product, a high-performance motorcycle called F77, starting at an ex-showroom price of Rs. 3.8 lakh. And Transition VC plans to raise Rs. 400 crore for its first fund