Digital payments firm Paytm on Monday said it plans to invest Rs 500 crore in early stage startups that build complementary technologies augmenting the digital ecosystem. The company will focus on artificial intelligence-based technology and big data solutions for new innovations that can generate large scale employment. "The company has set aside Rs 500 crore to invest in early-stage companies that build complementary technologies augmenting the digital ecosystem," Paytm said in a statement. The company said it expects to employ technology across the growing internet to become the dominant player in AI. "We are well aligned with our country's mission to ensure the benefits of the digital revolution reach the last mile. We partner with startups who have capabilities that augment the digital ecosystem for the next wave of growth. "These investments are also an indication that Paytm believes India's entrepreneur ecosystem is innovative and is growing well," Paytm Deputy Chief … [Read more...] about Paytm to invest Rs 500 crore in tech startups
The future of the connected home, connected car, and connected everything will have a lot of imaging technology at the center of it: sensors to track the movement of people and things will be a critical way for AI brains to figure out what to do next. Now, with a large swing towards more data protection — in part a reaction to the realization of just how much information about us is being picked up — we’re starting to see some interesting solutions emerge that can still provide that imaging piece, but with privacy in mind. Today one of the startups building such solutions is announcing a big round of funding. Vayyar, an Israeli startup that builds radar-imaging chips and sensors as well as the software that reads and interprets the resulting images which is used in automotive and IoT applications (among others) — providing accurate information about what is going on a specific place, even if it’s behind a wall or another object, but without the kind of … [Read more...] about Vayyar nabs $109M for its “4D” radar tech, which detects and tracks images while preserving privacy
Hemant Taneja Contributor More posts by this contributor The tech industry needs to move towards responsible innovation in 2018 Why pulling out of Paris Accord damages America’s economic future For over a decade now, Silicon Valley ideology has been to simultaneously: Move fast and break things. Make the world a better place. Our community — entrepreneurs and investors alike — have had a sense of manifest destiny to move humanity forward with our work. Somewhere along the way however, making the world a better place became more of a punchline than an ethos, and breaking things has become what we are best known for outside Silicon Valley. To that end, 2017 has been a demoralizing year. While our product innovations have built accessible and affordable content, community and commerce on top of a thriving deregulated and open internet, they have also been weaponized against society by bad actors. Social media became a vector of bullying and propaganda. Algorithms … [Read more...] about The tech industry needs to move towards responsible innovation in 2018
As someone who covers Africa’s tech scene, I’m frequently asked about Andela. That’s not surprising, given the venture gets more global press (arguably) than any startup in Africa. I’ve found many Silicon Valley investors have heard of Andela but aren’t exactly sure what it does. In a bite, Andela is Series D stage startup―backed by $180 million in VC―that trains and connects African software developers to global companies for a fee. The revenue-focused venture is often misread as a charity. In 2017, Andela CEO Jeremy Johnson described the organization as “a mission-driven for-profit company” ― a model for the concept “that you can actually build businesses that create real impact.” I asked Johnson recently to clarify the objective behind Andela’s drive. “It’s the exact same mission as when we started, based around our founding principle… that brilliance and talent are distributed equally … [Read more...] about What is Andela, the Africa tech talent accelerator?
Another tech giant is under investigation in Europe for potential privacy breaches of the General Data Protection Regulation (GDPR), TechCrunch has learnt. The Irish Data Protection Commission (DPC), which is the lead data protection regulator for most multinational tech giants in Europe, has opened a formal probe into Quantcast’s business — adding +1 to the 17 investigations it already had up and running into Facebook, WhatsApp, Instagram, Apple, Twitter and LinkedIn. In a statement about the new statutory inquiry into Quantcast the DPC told us: Since the application of the GDPR significant concerns have been raised by individuals and privacy advocates concerning the conduct of technology companies operating in the online advertising sector and their compliance with the GDPR. Arising from a submission to the Data Protection Commission by Privacy International, a statutory inquiry pursuant to section 110 of the Data Protection Action 2018 has been commenced in … [Read more...] about Adtech veteran Quantcast is latest tech giant to face GDPR privacy probe