News
Google io 18 – Here’s All You Need To Know
Published
7 years agoon
This year saw the clash of two major tech companies led by Indians for grabbing the spotlight with their unique features, latest additions and in some cases, a completely rebranded focus. Microsoft Build 2018, which kicked off on 7the May, was still going on when Google launched its own annual Google I/O developers conference.
Technology giant Google just wrapped up the first day session of its annual developers conference, Google io 2018. The keynote address, although short, had some major announcements including the upgrades to its Assistant, Artificial Intelligence (AI) and machine learning. Chief Executive Officer of Google, Sundar Pichai started the conference by laying out the overall direction the company would be taking post the conference. Pichai spoke about the biggest controversies the company faced last year, namely the placement of cheese in the burger emoji and the floating foam in the beer emoji. Over 7000 people present there and millions watching online finally realised why Google is so serious about its emoticons.
Since their io last year, the company made a lot of progress in terms of AI and Machine Learning (ML.) This year’s platform concentrated on software over hardware as well as in showcasing the integration of AI and ML in the day to day life. Here are the highlights from the Google io 2018 developers conference.
Google AI – The company is empowering industries around the world by integrating AI into various technologies. These machine learning systems offer deeper analysis and newer insights as compared to regular technologies.
GBoard With Morse Code – In an attempt to make language and speaking easier and more accessible to people all around the world, Google introduced a new feature to its GBoard. The GBoard with Morse Code feature allows people with disability to use the application freely, thereby communicating easily.
Gmail – After completely redesigning the Google email system, Gmail, the tech giant added a new feature called Autocompose to the email system. Using ML, users will now get predictive phrases while typing an email and autocomplete sentences. From addresses to content, the ML system analyses the previous text to predict the next sentence.
Google Photos – Over 5 billion photos are viewed every day by users. Making the app more user friendly, Google added a new feature called App Actions to the photos app which suggests smart actions. The AI system can perform actions like sharing the images with people in the photos and editing images to make them look better with just one click. Adding to that, Google photos can also convert documents to PDF format.
Tensor Processing Units – Special purpose machine learning chips, the Tensor Processing Units, drive the AL and ML systems and product improvements in the company. These chips are now also available to Google’s Cloud partners as well. The company launched the next version of these units, TPU 3.0 during the conference which uses liquid cooling systems as they are 8x times more powerful.
Google Assistant – Trying to make the Google Assistant sound more human, the tech giant stitched together the voice of a real person code named Holly. In order to get the accents and language right for users all over the world, Google also brought in American singer John Legend. His voice as the Assistant will be released later this year. The Assistant is currently available in over 500 million devices. The Assistant will also be able to support 30 languages in 80 countries by the end of this year. Apart from that, users will not have to use the command ‘Hey Google’ or ‘OK Google’ every time they interact with the Assistant. Users can use the command, in the beginning, ask multiple questions within the same request.
Google Research – The tech firm is rebranding its Google Research division to Google AI with an increased focus on computer vision, natural language processing, and neural networks.
- Dashboard: The Dashboard shows users how often they have been using particular apps.
- App Timer: The App Timer allows users to set an amount of time to use a certain app and turns the icon grey once the time is up.
- Do Not Disturb Mode: Much like the current Do Not Disturb feature, this new application ensures users get no visual or sound alerts.
- Wind Down: The Wind Down feature helps users put down their phones, setting the whole screen to grayscale.
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Startup News
PeLocal Secures $2 Million Funding from Unicorn India Ventures!
Published
15 hours agoon
November 20, 2024PeLocal, a fintech startup specializing in payment solutions via messaging platforms like WhatsApp, has successfully raised $2 million in a funding round led by Unicorn India Ventures. This marks the company’s first institutional funding and represents a significant step in its growth trajectory.
Scaling Transactions and Expanding Offerings
Over the past year, PeLocal has experienced impressive growth, scaling its monthly transaction volume from 500,000 to three million. The Chennai-registered startup now aims to hit 10 million transactions per month within the next year. As part of its expansion strategy, PeLocal plans to develop a marketing catalog and a dedicated payments platform tailored for small businesses on WhatsApp.
“This is our maiden institutional funding, and the deep expertise and strategic insights of Unicorn’s leadership will be invaluable as we continue to build on our growth momentum,” said Vivekanand Tripathi, Founder of PeLocal.
Simplifying Digital Payments for Everyday Transactions
Since its inception in 2021, PeLocal has focused on leveraging WhatsApp to streamline payments, serving notable clients such as Delhi Metro, Indraprastha Gas, and Mahanagar Gas. The platform is also utilized by several insurance companies for premium collection, reinforcing its adaptability across various industries.
Unique Value Proposition
Anil Joshi, Managing Partner at Unicorn India Ventures, highlighted the startup’s unique value proposition:
“While digital payment solutions are growing, there remains a demand for simple and seamless solutions for micro payments. PeLocal is addressing this gap by enabling instant payments through WhatsApp.”
This focus on micro payments positions PeLocal to cater to a growing segment of users seeking convenient payment methods integrated into their daily communication tools.
Previous Funding and Vision for Growth
PeLocal had previously raised $1 million in a seed round in 2022, according to Tracxn data. With the latest funding, the company is poised to scale its operations and enhance its offerings, solidifying its position in India’s burgeoning digital payments ecosystem.
The latest investment not only validates PeLocal’s innovative approach but also underscores the growing importance of integrating payment solutions with popular messaging platforms to reach a broader audience.
Future Plans
PeLocal aims to become the leading provider of WhatsApp-based ticketing solutions across various Indian states and organizations while driving the adoption of utility payments through WhatsApp. The company envisions expanding its services beyond traditional payment solutions to include features that enhance customer engagement and streamline business operations.
Key Features of PeLocal’s Services
- Seamless Integration with WhatsApp: Users can send payment links, invoices, and transaction updates directly through WhatsApp.
- Automated Customer Support: The platform offers automated responses and intelligent self-service options, reducing manual efforts.
- Enhanced Payment Security: PeLocal ensures robust security measures for transactions carried out via WhatsApp.
- Convenient Payment Options: Customers can complete payments with just a few taps on their WhatsApp interface.
Conclusion
With this recent funding round, PeLocal is well-positioned to enhance its market presence and capitalize on the growing demand for digital payment solutions integrated with messaging platforms. By simplifying the payment process for both consumers and businesses, PeLocal aims to redefine how transactions are conducted in India’s rapidly evolving fintech landscape. The support from Unicorn India Ventures will be crucial as the company seeks to expand its offerings and reach new heights in the digital payments space.
Startup News
MakeMyTrip Acquires Happay from CRED, Strengthens Leadership in Corporate Travel Solutions!
Published
16 hours agoon
November 20, 2024Online travel giant MakeMyTrip has announced its acquisition of Happay, an expense management platform, from Fintech Company CRED. This strategic move aims to solidify MakeMyTrip’s position as a leader in corporate travel and expense management.
Details of the Acquisition
The acquisition encompasses Happay’s brand, its expense management business, and its dedicated team, which will transition to MakeMyTrip. However, Happay’s payments business and its team will remain with CRED, allowing CRED to concentrate on innovative business payment solutions. The deal is expected to close within 90 days and will enable MakeMyTrip to integrate Happay’s expertise into its corporate travel offerings.
Expanding Corporate Travel Offerings
Founded in 2012 by Anshul Rai and Varun Rathi, Happay specializes in streamlining corporate expense management, covering reimbursements and spending tracking for businesses. The platform supports over 900 corporate clients, making it a valuable addition to MakeMyTrip’s portfolio. Happay previously joined the CRED ecosystem in 2021 through a $180 million acquisition.
Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, emphasized the synergy created by this acquisition:
“We have consistently outpaced industry growth in the corporate travel sector by focusing on innovation and seamless user experience. The acquisition of Happay is a natural next step in redefining corporate travel and expense management benchmarks in India.”
Benefits for CRED
CRED founder Kunal Shah highlighted the strategic benefits of the transaction, stating:
“Our focus at CRED is on developing products that enable financial progress. By enabling each vertical to scale within their domains, we’re positioning teams for transformative growth.”
Happay’s payments division under CRED will continue its mission to enhance the B2B payments experience, including recently launched solutions like the B2B payments platform on Bharat Connect, developed in partnership with NPCI.
MakeMyTrip’s Growing Footprint
MakeMyTrip operates multiple brands like Goibibo and RedBus, providing a comprehensive range of services including air ticketing, hotel bookings, and holiday packages. The company reported significant financial growth with a 24% year-on-year increase in revenue, reaching $211 million in Q2 of this fiscal year.
The acquisition complements MakeMyTrip’s existing corporate travel platforms—MyBiz, which caters to small and medium-sized businesses, and Quest2Travel, designed for larger enterprises—serving over 59,000 SMBs and more than 450 large corporates, respectively.
By integrating Happay’s capabilities into its operations, MakeMyTrip is poised to become a comprehensive solution for businesses seeking efficient corporate travel and expense management.
Conclusion
This acquisition not only strengthens MakeMyTrip’s offerings in the corporate travel sector but also reflects its commitment to innovation and customer-centric solutions. As the corporate travel landscape evolves towards self-service platforms that ensure compliance and transparency, MakeMyTrip’s strategic move positions it well to meet the growing demands of businesses looking for streamlined travel and expense management solutions. With Happay’s integration, MakeMyTrip is set to redefine industry standards while expanding its reach across various enterprise segments.
Startup News
Accel Leads $2 Million Seed Funding for Swish to Revolutionize 10-Minute Food Delivery!
Published
21 hours agoon
November 20, 2024Swish, a Bangalore-based rapid food delivery startup, has secured $2 million in seed funding led by Accel. Prominent angel investors, including Urban Company co-founders Abhiraj Bhal and Varun Khaitan, as well as former Swiggy Instamart head Karthik Gurumurthy, also participated in the funding round. The investment will fuel Swish’s expansion across Bengaluru and its future entry into other Tier-1 cities, according to the company’s statement.
A New Player in the Rapid Delivery Market
Founded in 2024 by Aniket Shah, Ujjwal Sukheja, and Saran S, Swish operates on a 10-minute delivery model using strategically located cloud kitchens, referred to as “delight centers.” These centers operate within a 1.5-2 km radius, ensuring quick and hygienic food delivery. The startup launched its operations in Bengaluru’s HSR Layout and has since expanded to Bellandur, gaining traction for its innovative approach to hyperlocal food delivery.
Demand for Speedy Services
Highlighting the demand for quicker services, Swish CEO and co-founder Aniket Shah stated, “We realized that quick commerce, initially seen as a convenience, has quickly become indispensable as people seek faster solutions to their everyday needs. Despite advancements in other categories, food delivery still takes 30-60 minutes, falling short of customer expectations, particularly for instant cravings.”
Market Potential
India’s quick commerce sector is currently valued at billions and is projected to reach $40 billion by 2030. Swish aims to tap into this potential by establishing 150 delight centers across Bengaluru by March 2025, solidifying its position as a leader in the segment.
Competitive Landscape
The rapid food delivery market is becoming increasingly competitive, with established players like Zomato and Swiggy also expanding their quick commerce offerings. Swish’s focus on ultra-fast delivery could give it an edge in capturing market share among consumers seeking immediate food solutions.
Strategic Insights from Investors
Commenting on the investment, Accel partner Abhinav Chaturvedi said, “Customer expectations around delivery times have evolved significantly with the rise of quick commerce. Swish is addressing this challenge by rethinking the supply chain and delivering an ultra-fast experience through their delight centers, bringing innovation to food delivery.”
Unique Operational Model
Swish employs a unique full-stack model that allows it to control all aspects of its operations in-house, including app design, food preparation, delivery mechanics, transport, and supply chain management. This vertical integration helps maintain quality and efficiency while reducing operational costs.
Future Expansion Plans
With plans to scale aggressively, Swish intends to set up additional cloud kitchens (referred to as “Pods”) in high-demand areas of Bengaluru. The startup aims to enhance its menu offerings with healthier options while ensuring that the quality of food remains uncompromised.
Financial Viability
As part of its operational strategy, Swish has managed to keep capital expenditures low while achieving strong unit economics. The startup currently receives approximately 150-200 orders daily, with an average order value of INR 250-300. The founders believe that maintaining high margins—around 70%—on food items will support sustainable growth.
Conclusion
With a unique approach to hyperlocal food delivery and significant backing from investors, Swish is poised to redefine the rapid delivery landscape in India. By focusing on speed and customer satisfaction while leveraging technology and efficient operations, Swish aims to establish itself as a leading player in the burgeoning quick commerce sector.
As it prepares for expansion and continues refining its operational model, Swish represents an exciting development in the Indian food delivery market—one that could potentially disrupt established norms and set new benchmarks for service speed and quality.
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