Smaller cities are stealing the show in data centre expansion

Tier-2 and -3 cities are turning attractive due to their strategic locations and improved infrastructure as companies seek to cater to the underserved vast majority. The data centre industry has expanded from 350 MW capacity in 2019 to 854 MW in 2023, at a compound annual growth rate of 25%, as per JLL data.

from Tech-Economic Times https://ift.tt/idkm34X

USCIS to conduct second H-1B lottery to meet FY25 limit

The H-1B visa is the US’s premier high-skilled worker visa, in high demand by Indian and Chinese origin professionals, among others, many of whom work in the tech sector.

from Tech-Economic Times https://ift.tt/xjRFdNf

Worst of layoffs likely over, startups hand out fewer pink slips in H1

Startups cut about 11,250 jobs during the January-June period this year, compared with 21,000 in the first half of 2023 and 15,000 in the second, according to data from executive search firm Longhouse Consulting.

from Tech-Economic Times https://ift.tt/ofcH1su

It's trending D2C: new-age brands flex muscle via own sites

Direct ecommerce, or brands selling directly to consumers through their digital platforms, has risen to 10-15% of India’s online retail market of $70-75 billion now, from 2-3% five years ago, according to data. Why are these brands focussing on their own channels for sales and cutting reliance on marketplaces?

from Tech-Economic Times https://ift.tt/CA1K65k

D2C haircare brand Moxie Beauty raises $2.1 million in funding led by Fireside Ventures

Moxie Beauty, a haircare brand catering to Indian hair textures, has raised Rs 17.3 crore in funding from Fireside Ventures. The company will use this capital to innovate in product categories, hiring and expanding distribution channels.

from Tech-Economic Times https://ift.tt/k6fN2y3

InsuranceDekho secures composite broking licence, to start reinsurance biz

InsuranceDekho, a Gurugram-based insurance marketplace, has secured the composite insurance broking licence from IRDAI. Its customers can now avail the reinsurance service from the company. With this, the company takes on rival Policybazaar, which had received the permit in February this year. InsuranceDekho processed around Rs 3,300 crore in premium for insurance companies in the last financial year.

from Tech-Economic Times https://ift.tt/h23k1cG

Fidelity, Nomura line up bids for Ola Electric's IPO

Ola Electric's roughly $740 million IPO will open this week and will be the first by an Indian electric vehicle maker. The company is the biggest player in the e-scooter market in a country where adoption of clean vehicles is still low but rising rapidly.

from Tech-Economic Times https://ift.tt/xd0h61l

Removal of angel tax for startups to help attract investors: Piyush Goyal

Angel tax (income tax at 30% rate) was imposed on funding raised by unlisted companies, or startups, if their valuation exceeded the company's fair market value.

from Tech-Economic Times https://ift.tt/9CVn3Dq

CERT-In says global outage being leveraged to launch phishing attacks against CrowdStrike users

The world suffered a major computer systems outage on July 19 due to a faulty update to the CrowdStrike Falcon Sensor software leading to crash of Microsoft Windows operating system. The event grounded numerous flights, hit business, banking and hospital systems across the globe including in India.

from Tech-Economic Times https://ift.tt/QOBEXFZ

Making India an AI first nation — from classrooms to boardrooms

As technology advances, the governance of AI must evolve accordingly. In alignment with the ‘India AI Mission’ and ‘Viksit Bharat 2047’, it is essential for the public and private sectors to collaborate in democratising access to AI skills. Empowering communities at the grassroots level with AI fluency can drive innovation on a large scale, ensuring that the benefits of AI are widely accessible and impactful.

from Tech-Economic Times https://ift.tt/WDguIlt

US union and Apple reach tentative labour agreement

The International Association of Machinists and Aerospace Workers reached a tentative agreement with Apple, promising better work-life balance, pay raises, and job security for retail workers at Towson, Maryland. Workers will vote on August 6. The deal includes a pay raise, limits on contracted employees, and improvements in work-life balance. Apple did not comment.

from Tech-Economic Times https://ift.tt/WN3dYB6