IT CEOs' salary in FY24; Wipro offers 85% variable pay

Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.

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Databricks to buy data management firm Tabular for over $1 billion

San Francisco, California-based Databricks, a data analytics platform using artificial intelligence, said Tabular's team of about 40 members will join it after the transaction is completed in its second quarter ending July 31.

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InsuranceDekho set to get majority stake in BankSathi

Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.

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Wipro's Switzerland head quits; Bruno Schenk to take over

Indian IT major Wipro on Monday appointed Bruno Schenk succeeds René Mulder, who joined Wipro in February 2021 and has decided to pursue opportunities outside Wipro.

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Netskope crosses $500 million in subscription revenue, in no rush to go public

Chief executive Sanjay Beri said the company has been making internal preparations for an initial public offering (IPO) but there was no rush in an election year.

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PV Sindhu invests in biofortified staples brand Better Nutrition

PV Sindhu, Indian badminton player, has injected an undisclosed amount in Better Nutrition, a biofortified staples brand from Greenday that offers agri-input services such as biofortified seeds, fertilisers and agronomic practices.

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Agnikul eyes launching satellites by 2025: CEO Srinath Ravichandran

Agnikul's first test flight of Agnibaan SOrTeD (suborbital technology demonstrator) on May 30, which lasted for 66 seconds, came after four unsuccessful attempts.

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Eye on AI: Tech giants form industry group, Apple-OpenAI deal and other top developments

Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.

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Top startup & tech stories this week

Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.

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IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA

Four members of IAMAI, including Bharat Matrimony, Match Group, Hoichoi, and ShareChat, express divergent views on ex-ante regulation in the draft DCB to the Ministry of Corporate Affairs.

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Spain's data protection agency suspends two of Meta's EU election apps

Spain's data protection watchdog AEPD orders the provisional suspension of Meta's planned products for the European election on Instagram and Facebook, citing potential violations of Spanish data protection laws.

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