#News: Rivigo layoffs, WinZO raises $5mn, Reliance Retail testing assisted e-commerce for Ajio

 

Logistics firm Rivigo sacks 70-100 employees; campus offers rolled back

Last week, Rivigo raised $65mn, but is now under pressure from investors to cut cost

“performance and market dynamics” were the causes for the firing (via)

WinZO, the vernacular e-sports platform raises $5MN in Series A Funding led by Kalaari & Hike

WinZO has gone on to have more than 7 Million registered users across Tier 2/3/4/5 cities. Average Users are currently spending more than 55 minutes inside the app every day. With strong signs of stickiness, the top 20% of the users are already spending 60% of their smartphone usage time on the platform. WinZO currently accounts for 38% of their monthly entertainment budget, popular games on the platform include Carrom, Cricket, Pocket Tank, Fruit Samurai, etc.

Govt committee says NO to cryptocurrency; jail time of up to 10 years

“These cryptocurrencies cannot serve the purpose of a currency. The private cryptocurrencies are inconsistent with the essential functions of money/currency, hence private cryptocurrencies cannot replace fiat currencies.” said the report ()

After Chandrayaan-2, ISRO plans mission for the Sun in 2020

Solar mission, Aditya-L1 is meant to observe the Sun’s corona, the outer layers of the star that span thousands of kilometres.

Reliance Retail testing assisted e-commerce for Ajio through Jio stores

Reliance Retail has started a pilot of assisted e-commerce in its smaller Jio Stores whereby its staff can place consumer orders from Ajio.com through a kiosk inside the store and consumers will be able to collect or return orders from there itself, as per the company’s latest investor presentation (via)

Microsoft to invest $1Bn in Sam Altman’s OpenAI

Through this partnership, the companies will accelerate breakthroughs in AI and power OpenAI’s efforts to create artificial general intelligence (AGI) via

The partnership covers the following:

  • Microsoft and OpenAI will jointly build new Azure AI supercomputing technologies
  • OpenAI will port its services to run on Microsoft Azure, which it will use to create new AI technologies and deliver on the promise of artificial general intelligence
  • Microsoft will become OpenAI’s preferred partner for commercializing new AI technologies

Japan’s Mitsui invests $14 million in Indian EV startup SmartE

SmartE, the three wheeler electric mobility startup, already has partnership with DMRC (Delhi Metro). Company is now looking at growing its fleet to 50,000 electric three-wheelers (via)

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