OpenAI’s ChatGPT Plus subscription now available in India

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March 17, 2023

Microsoft-backed OpenAI tweeted that ChatGPT Plus subscriptions are now available in India. ChatGPT Plus, which costs $20 a month, claims “faster response speed” and “priority access to new features.”

The company said users could use the AI chatbot even if “demand is high”. It will also let users experience GPT-4, the new-gen LLM (large language model) that can even analyze text inputs.

ChatGPT Plus was introduced in February of this year in the US for $20 a month (about Rs 1,600).

OpenAI tweeted the update on its official Instagram handle and said, “Great news! ChatGPT Plus subscriptions are now available in India. Get early access to new features, including GPT-4 today: chat.openai.com.”

India Today reported that despite the availability of the ChatGPT Plus subscription in India, several users stated that payments did not go through. This issue may be brought on by the Reserve Bank of India’s recurring subscription policy.

Earlier, OpenAI had stated that it would keep providing ChatGPT for free; the new Plus variant is meant for individuals who want more from ChatGPT.

“We love our free users and will continue to offer free access to ChatGPT. By offering this subscription pricing, we will be able to help support free access availability to as many people as possible,” OpenAI said in its blog post.

LinkedIn adds AI-powered writing suggestions to its service

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March 17, 2023

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LinkedIn, a professional networking platform, is the most recent platform to join the generative AI bandwagon by introducing AI-powered writing suggestions and job descriptions to its services.

According to Engadget, LinkedIn Premium subscribers may now generate descriptions based on their experiences using the new “enhance” tool.

The tool will draw from users’ work experience and skills and LinkedIn’s “insights” into what makes a strong profile, the company claims. It also uses the same OpenAI models as ChatGPT.

The professional networking platform added that it is also beginning to test job descriptions written by AI.

According to the report, hiring managers must only provide the job title, company name, and other basic facts in certain circumstances. LinkedIn will generate a detailed draft of a relevant job description.

Meanwhile, LinkedIn has unveiled a brand-new feature called “collaborative articles,” which will use “AI-powered conversation starters” to start conversations between the platform’s “experts.”

Based on its skills graph, the company will match articles with relevant members and invite them to contribute context, additional information, and suggestions for the articles.

Because “starting a conversation is harder than joining one,” the company believes the system will simplify sharing their perspectives for users.

OYO starts accelerator programme to help first-generation hoteliers

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March 16, 2023

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Global hospitality technology unicorn Oyo has launched an accelerator programme for small first-generation hoteliers in its community.

According to a press release, hotel owners with more than five running hotels are eligible for the accelerator programme.

OYO stated that it would initially aim to add 30 hoteliers to the accelerator programme; the company claims that this will help first-generation hoteliers innovate and enter new markets, increasing their customer base.

The programme will provide hoteliers with mentorship, access to technology, dedicated relationship managers, financial support, and OYO‘s network of more than 15,000 corporate accounts and more than 10,000 travel agents across India.

According to the press release, the initiative aligns with OYO’s goal of expanding the number of its premium hotels in India by 2023. With its names including Townhouse Oak, OYO Townhouse, Collection O, and Capital O, the company aims to increase the number of premium hotels.

OYO plans to add more than 200 properties under the accelerator programme in key business hubs like Bengaluru, Hyderabad, Chennai, Delhi, Noida, Kolkata, Siliguri, and Mumbai.

“We come across many hoteliers whose aspiration for growth and their business acumen far exceeds the capital and resources available to them,” said Anuj Tejpal, chief merchant officer of OYO. “OYO had tried to support their growth in the past in whatever manner we could. However, we realized that we will be able to encourage many more such hoteliers if we provide special focus to this initiative and move in a planned and targeted manner to help many more such small entrepreneurs.”

OYO hired two hoteliers in Hyderabad, one in Kolkata, and one in each of Delhi and Kolkata during the accelerator program’s pilot phase. These hoteliers, who manage over 50 properties in the three cities, joined the programme.

“OYO’s technology driven approach helps us in customer acquisition. Its hotel brands, such as OYO Townhouse, have consistency in quaconsistentess and service standards across all locations that ensure custo, ensuring We are confident of scaling up rapidly with OYO,” said Amruth Bhamidipati, managing partner, De Alphabets Group of Hotels, Hyderabad.

Aman Deep Kamboj, Founder of Qotel Hospitality, New Delhi, added, “We have been associated with OYO for the past three years. The brand ensures customer loyalty, which is vital for the growth of our business.”

BlackBerry opens new ‘IoT Centre of Excellence’ in Hyderabad

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March 16, 2023

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Software company BlackBerry Limited announced a new BlackBerry IoT Centre of Excellence, Engineering, and Innovation in Hyderabad. By utilizing the BlackBerry QNX product portfolio and BlackBerry IVY in-vehicle software platform, the engineering centre will hire embedded software engineers to help develop the next generation of software-defined vehicles (SDVs) and advance innovation in other Internet of Things (IoT) industries.

By the end of 2023, the Hyderabad facility—which is planned to be the second-largest for BlackBerry’s IoT division globally after Canada—is expected to host over 100 software engineers across a wide range of technology positions and skill sets, including senior management, technical project management, product engineering, cloud software development, integration, and service delivery.

“India is an important market for local and global manufacturers in automotive and IoT sectors—particularly in Hyderabad, an ecosystem of engineering talent. This facility will help BlackBerry IoT to co-develop and co-innovate more closely with our customers and partners based in India, giving talented developers and engineers the opportunity to build the best solutions for complex problems for automotive and other embedded software industries,” said Mattias Eriksson, President of BlackBerry IoT.

BlackBerry IVY software development will begin in 2023, bringing developers and OEMs with operations in India closer to the innovation cycle and providing access to benefits such as optimized data processing via on-vehicle machine learning (ML).

Indians firms demand Cloud providers to operate together across environments: Oracle

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March 16, 2023

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As cloud computing becomes more mainstream, Indian businesses of all sizes will demand more in the upcoming years that various cloud solution providers collaborate, whether in a multi-cloud or hybrid cloud environment, a top Oracle executive said on Wednesday.

Shailender Kumar, Senior Vice President and Regional Managing Director of India and NetSuite JAPAC, told IANS that the businesses and workloads are becoming more complex in India’s “Techade,” and technology usage is evolving quickly.

“As agility, scalability, and optimization remain top business priorities among customers, the efficacy and demand for multiple clouds will only expand. There is tremendous opportunity for Cloud in India. The market is rapidly expanding and both private and public sector stakeholders are becoming more open to embracing new, emerging technologies,” Kumar, an industry veteran, emphasized.

According to Nasscom, 84% of major organizations have implemented software-as-a-service (SaaS), and 53% of companies have increased cloud adoption over the last year.

“In the coming years, organizations will increasingly demand that their various cloud solution providers operate with each other, whether it is a multi-cloud or hybrid cloud environment – so they can achieve operational efficiency and provide the best customer service,” Kumar noted.

For the third year in a row, Oracle India has been a significant growth engine, with the Oracle Cloud Infrastructure (OCI) unit expanding by more than 100%.

“Our SaaS business grew rapidly, and the portfolio remains in high demand across Fusion ERP, HCM, or CX solutions. We are closing ground-breaking deals and making inroads into new industries,” Kumar told IANS.

The company sees significant prospects in well-established industries like the public sector, BFSI, and telecom.

New industries, including manufacturing, e-commerce/retail, healthcare, edtech, and startups, are also gaining momentum in these areas.

“We will continue to prioritize innovation that provides business value to our customers as we focus on multi-cloud, hybrid cloud ecosystems, and new, modern applications to bring cloud to more and more businesses in India, including PSUs and companies operating in regulatory markets,” said Kumar.

Customers require flexibility and want hyperscalers to work together to build well-integrated cloud ecosystems; thus, the future is multi-cloud, he added.

HealthPlix Technologies raises $22M in Series C funding round

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March 15, 2023

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Bengaluru-headquartered HealthPlix Technologies has raised $22 million in a Series C funding round led by Avataar Venture Partners and SIG Venture Capital.

Since its inception in 2014, the start-up has introduced several products such as EMR, drug-to-drug interactions (DDI), mobile EMR, AI-powered SmartScan and doctor insights dashboard, among others.

“We are a 100 per cent doctor-first firm and our vision is to drive better health outcomes at the population level. Today, we serve 2.5 per cent of the entire Indian population. With these new funds, we aim to cater to 200-250 million more patient lives in an 18-month timeframe,” said Sandeep Gudibanda, co-founder and CEO.

With this new funding, HealthPlix plans to expand its technology platform and bring more users to its digital platform. By 2024, the startup aims to increase the number of doctors using its platform from over 10,000 to over 25,000.

Commenting on the investment, Mohan Kumar, Investment Advisor to Avataar Venture Partners, said, “HealthPlix approach of using doctors as the focal point and delivering value to other stakeholders like patients, pharma brands, pharmacies, and diagnostic labs is unique and differentiated. We have seen many business models that have failed to scale in the healthtech ecosystem, and we believe that Sandeep has built a great team to deliver on HealthPlix promise.”

Fintech startup CLXNS to hire over 700 professionals

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March 15, 2023

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CLXNS, a platform for digital-first debt resolution, announced its plan to hire around 700 people by the end of the first quarter of FY 2023–24.

Over 125 of the company’s 160 employees joined the team after April 2022. The fintech startup will employ more than 800 people with the new hiring.

CLXNS plans to hire across industries, including marketing, data analytics, product, engineering, and design. According to a statement, it is keen to employ mid-level talent with technical skills and experienced professionals for key leadership roles.

The future-looking objective of CLXNS is to build scalable, digital-first debt resolution tools with a high degree of compliance and governance with the help of the recently hired employees and the company’s clear focus on investing extensively in its tech capabilities.

Manavjeet Singh, MD & CEO, CLXNS, said, “The current market scenario is unstable, but we strongly feel that there is no right or wrong time for hiring talent. We believe India’s credit growth story has just started and is guaranteed to see a massive boom. And therefore, we foresee an enormous growth in ethical debt resolution opportunities.”

“At CLXNS, our sole aim is to build a scalable, digital-first debt resolution company. Simultaneously, we wish to emerge as a talent powerhouse in the industry with expertise in tech capabilities. We are confident that with the new talent addition, we will be able to reach one step closer to our goals of expanding our footprints pan India and serving our customers better,” added Singh.

Mindspace Business Parks raises Rs 5.5 billion via debut green bond

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March 15, 2023

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Mindspace Business Parks REIT has raised 5.5 billion rupees ($66.7 million) through a debut green bond issue on Tuesday, per a term sheet seen by Reuters and corroborated by two bankers.

According to the bankers, this was the first time a real estate investment trust (REIT) in India had offered green bonds with three years and one-month maturity.

Mindspace Business Parks REIT invited bids for the issue earlier in the day and will pay a coupon of 8.02% every quarter

The issue has a step-up coupon adjustment option, which enables the coupon to rise by 25 basis points for every notch that the issue’s credit rating is downgraded.

Star Health and Allied Insurance Co was an anchor investor to the issue and subscribed 30% or 1.65 billion rupees of the total amount.

According to the term sheet, the issue’s proceeds will be utilized to finance new loans, develop and construct relevant green projects for the REIT’s special purpose vehicles, and refinance existing loans.

The issue will be settled on Wednesday, and ICRA has given the bonds a AAA rating. Trust Investment Advisors was the sole arranger of the issue.

Taj City Centre Gurugram commemorates 10 years of hospitality

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March 14, 2023

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Taj City Centre Gurugram, a prominent landmark in the “millennium city,” hosted a soiree to commemorate its 10th anniversary. This marked the beginning of year-long celebrations marking the milestone, which will feature special events, specially curated epicurean offers, and destination experiences for guests.

With themed décor, a finely designed culinary sojourn, and energetic entertainment, the bespoke evening put on by Taj City Centre Gurugram was illuminated in the hues of celebration. The celebrations began with a stirring performance by renowned singer, performer, and Padma Shri awardee Mr. Adnan Sami. They were then followed by a gastronomic gala of global delicacies and spirited beverages made by Chef Abhijeet Thakre, executive chef, and Chef Nisa Yimthong.

The exclusive menu featured delicacies from Thai Pavilion and Culina 44 and exotic seafood grills with lobster, salmon, giant squids, and crab from Sri Lanka. Various delicious desserts enhanced the celebration spirit, including ten chocolates with innovative flavors and a cognac and cigar lounge. To commemorate the event, a stunning 110 kg, 10-story cake made by our culinary masters, was cut. Guests also raised a toast to honor the milestone while champagne was poured from a beautiful golden champagne tower of 100 glasses.

Commenting on the 10th anniversary, Surinder Singh, area director of Haryana & Dwarka and general manager of Taj City Centre Gurugram, said, “As Taj City Centre Gurugram completes ten years, we extend our heartfelt gratitude to our patrons, partners, and associates for their support through our incredible journey. Over the last decade, we have endeavoured to deliver memorable experiences to our patrons, and we are grateful for the trust they have placed in us. The hotel has been an epitome of luxury and comfort, and we continue to stay committed to providing exceptional hospitality services.”

Rockstud Capital launches Rs 300-Cr second alternative investment fund

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March 14, 2023

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Asset management firm Rockstud Capital said it launched its second fund, Rockstud Capital Investment Fund II, of Rs 300 crore ($36.4 million) to back pre-Series A and Series A stage startups.

The Securities and Exchange Board of India (SEBI) granted Rockstud Capital Investment Fund-II, a Category I Alternative Investment Fund-Angel Fund (Cat-I AIF-Angel Fund), a licence for its AIF Category I Angel Fund last month.

The fund would invest in 25 startups, with ticket sizes ranging from Rs 1 crore to Rs 10 crore, focusing on digitalization, sustainability, financial inclusion, consumption, and health and safety.

Its investment thesis will focus on a consumption topic targeted at young people. It might set the stage for and continue to use a co-investment model to give entrepreneurs growth capital to build on their initial product-market fit, scale, and raise a Series A round.

“As India moves towards becoming a $5 trillion economy, we feel this is an opportune time to enter the space, especially when companies are finding it difficult to raise capital amidst the funding winter,” said Abhishek Agarwal, Founder and Managing Partner of Rockstud Capital.

“The fund will focus on partnering and identifying early-stage growth companies through a well-defined process and deep network to foster partnerships with founders building scalable businesses with a clear focus on profitability,” he added.

According to Rockstud Capital, the fund will be overseen by a team of experienced professionals with a deep understanding of the alternative investment sector.

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