Newer systems being added to astronaut training facility in Bengaluru: VSSC director

Unnikrishnan Nair, director of Vikram Sarabhai Space Centre (VSSC) told ET, “The building near UR Rao Satellite Centre on Old Airport Road is in place and certain systems are already in place. But we are adding more simulators. The four astronauts selected for the Gaganyaan Mission received generic Space training in Russia. The training they receive at this facility is specific to Gaganyaan.”

from Tech-Economic Times https://ift.tt/yX1W6hE

PayGlocal gets RBI nod to operate as online merchant payments company

PayGlocal is an international payments-focused startup and has also applied for a cross-border payments licence. That application is still being processed by the central bank. The company expects to receive this licence in due course from the Reserve Bank of India (RBI).

from Tech-Economic Times https://ift.tt/XPO7Bul

Telangana goes all out to get MNCs to open tech base in state

The strategy is to go beyond attracting core technology companies and to persuade large multinationals from diverse sectors to make Telangana their tech hub, Telangana industries and IT minister Duddilla Sridhar Babu said. This is over and above the $4.4 billion investment that the Washington-based company announced two years ago dedicated for its Hyderabad region, he said.

from Tech-Economic Times https://ift.tt/c3WVESC

RecommerceX raises $3.6 million in round led by Accel, Kae Capital

The chemical recycling and sustainability startup will use the funds to expand the team, develop tech platform, push R&D for advanced material recovery, and scale its operations. RecommerceX targets medium to large manufacturing companies and engineering, procurement, and construction (EPC) firms as its primary customers.

from Tech-Economic Times https://ift.tt/L0ydckC

Rainmatter’s new bets; IT firms cut subcontracting costs

Happy Wednesday! Zerodha-backed Rainmatter Capital has funded multiple startups in the last two months. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times https://ift.tt/Yls75Bn

Margin focus pushes Indian IT firms away from subcontractors

In FY24, subcontracting costs hit their lowest levels in years: TCS at 6.20% of its revenue (the lowest since FY16), Infosys at 7.70% (lowest since FY21), Wipro at 11.50% (lowest since FY16), and Tech Mahindra at 12.60% (lowest since FY19), according to company data.

from Tech-Economic Times https://ift.tt/ni1s7bh

Harman's predictive analytics platform ForecastGPT is live

ForecastGPT, a predictive analytics platform allows organisations to forecast sales, supply chain and financial planning across industries such as retail. Being able to accurately predict future trends, allows businesses to optimise resource allocation, and enhance overall business performance. It is designed for businesses that operate in dynamic and uncertain markets, where demand and supply can vary significantly.

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

BigEndian Semiconductors raised $3 million in a funding round led by Vertex Ventures SEA & India

Founded in 2024 by Kumar, Renuka Prasad, Harpreet Wadhawan, Dinesh Annayya, Kanagaraju Ponnusamy, and Jansen Cheng, the Bengaluru-based startup aims to develop homegrown semiconductor IP in India, with plans to launch its surveillance system-on-chip (SoC) solution. The company currently employs about 18 people.

from Tech-Economic Times https://ift.tt/By9SlcI

PayU wants to get into consumer payments next with LazyPay

Digital payments company PayU is looking to expand its consumer fintech offerings through LazyPay, while maintaining its core focus on merchant payments. The Naspers-owned fintech firm plans to leverage LazyPay to develop a consumer payments and credit platform. CEO Anirban Mukherjee said PayU is anticipating regulations on allowing nonbank lenders on Unified Payments Interface (UPI) for tapping credit opportunities.

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

AI chatbots must learn to say 'help!' says Microsoft executive

Generative AI tools will save companies lots of time and money, promises Vik Singh, a Microsoft vice president, even if the models must learn to admit when they just don't know what to do. Even if the model has to turn to a human in 50 percent of cases, that still saves "tons of money."

from Tech-Economic Times https://ift.tt/v6tc3TR

Meta faces $3.6 million fine in Brazil for allowing bogus ads

In her ruling, Judge Joana Ribeiro said it was unacceptable for Meta to sell ads in an insecure way to sustain its business model. The department store, Havan, called the decision a “landmark” in protecting the company’s rights.

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