Open Source Indian Startup Takes on OpenAI - Indian Startup News 216
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- Опубликовано: 30 июл 2024
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00:00 Startup Raises $85M to Compete With OpenAI:
02:03 ODOO
04:20 Koo Shuts Down
06:23 Unacademy ‘Shutting Down’ Controversy
07:59 Ather Starts Delivering Rizta
08:28 Zomato Expand Meal Delivery Service “Zomato Everyday” to Mumbai
08:58 Funding News
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Startup Raises $85M to Compete With OpenAI:
Sentient, a new company without a functioning website or product, has raised $85 million to develop Artificial General Intelligence (AGI), aiming to surpass human intelligence by 2029. Unlike major players like OpenAI and Meta, Sentient plans to create an open-source AGI using blockchain technology, advocating for community involvement and transparency in AI development. Despite their ambitious goals, Sentient has yet to demonstrate any concrete progress and plans to launch their testnet in the third quarter of this year. There is skepticism about whether they can compete with established giants in the field.
Koo Shuts Down:
Koo, which was supposed to be India’s answer to X, has instead decided to shut down despite reaching 2.1 million daily and 10 million monthly active users at its peak. The company faced a funding shortfall during a difficult investment period, despite having raised over $50 Million. The founders announced the closure, citing the funding winter as the cause. They maintain that India still needs a native-language social media platform, despite Koo's failure.
Unacademy ‘Shutting Down’ Controversy:
An article by The Morning Context and news of 250 layoffs sparked rumors of Unacademy's decline. Despite this, Unacademy's CEO, Gaurav Munjal, claims the layoffs were not due to financial trouble but rather market consolidation. Munjal stated in the article that Unacademy has no debt, a five-year runway, and is poised for significant growth and profitability. He also mentioned on social media that the company is set for its best year yet.
Ather Starts Delivering Rizta:
Ather's CEO Tarun Mehta announced the start of deliveries for their first family scooter, Rizta, in select cities, excluding their headquarters in Bengaluru for now. Mehta assured that deliveries in other cities will begin soon. With a decline in revenue in FY24, Ather is relying on Rizta for growth, especially as they have filed for an IPO.
Zomato Expand Meal Delivery Service “Zomato Everyday” to Mumbai:
Zomato launched its affordable meal delivery service, "Zomato Everyday," last year in Gurugram, offering home-cooked style meals starting at 89 rupees. The service has expanded to Bengaluru, Hyderabad, Pune, and now Mumbai. Meanwhile, Swiggy introduced a similar service, "Swiggy Daily," in May.
Funding News
This week, Indian startups raised a total of $234 Million, which is slightly lower than last week’s $245 Million dollars.
Purplle (Mumbai): Raised $120 Million, biggest round of the week
Oyo (Gurugram): Raised $50 Million at $2.38 Billion valuation
Matter (Ahmedabad): Raised $35 Million in series B round
Watch Your Health (Thane): Raised $5 Million in series A round
Comet (Bengaluru): D2C sneaker brand $5 Million in series A round
Fabriclore (Jaipur): B2B fabric sourcing platform raised $1.6 Million in their seed round
Cautio (Bengaluru): Raised $780,000 in their pre-seed round
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I have a healthy food based cloud kitchen startup called Roaring Bowls. I'll make my plans open source as well. Woooohooooo 85 million dollars here I come.
They are polygon co-founders. What colour is your startup dumb?
Add "AI" in it 😜
@@sanjaymaurya5520 let me rephrase. Generative AI based cloud kitchen health food startup
@@sanjaymaurya5520 let me rephrase. It's a generative AI, model prediction based, healthy food cloud kitchen startup called Roaring Bowls. All jokes aside I do have a healthy food based cloud kitchen startup called Roaring Bowls. So these videos help me a lot.
Since how long are you working on it....?
The way he presents it is great! All major happenings in the startup ecosystem in just 10mins!
His case study vids are also great. They are not stat nor history based but rather provide us what we actually care knowing about.
"IT'S LIKE NORMAL TOOTHPASTE BUT WE ADDED AI"
AI-flavoured toothpaste is my favourite. -Caleb
ToothpAIste, perhaps? :)
Underrated comment of the month. -Caleb
Thank you Caleb for another great video. Great to see EV start-ups are getting significant funding again. Best regards from Turin- Rahul
Eagerly waiting for the top starups of Sikkim video and as always great work
Here it is nirnairai! ruclips.net/video/ABJ5gWvve4A/видео.html -Caleb
You can open source the code even the weights after training the model but how will you open source the compute/ gpu for training. Is it that an open source contributors will commit a code for model and company will train and give the results
Yes I think so it will happen but they will do it selectively
@@cadetmanishtiwari8694 there is issue with that it takes llm approx 30 days to train how do think thats going to work out
@@Naruto-Uchiha724 I dont have much expertees but i am sure this process i mean the training can be done using the blockchain technology or they will do something else or they are making it open source just for helping more people just like meta and they will not surcharge anything for enterprise use as like openai and microsoft do
You are doing a great job by covering startups from tier 2 cities.
3-4 cities aren't good enough for the scale of India's ambition.
Nice work 🎉
2:30 Need a video on business side of a youtube vidie
Koo could have partnered with olakrutrim.
Even as a tech enthusiast these AI developments are kinda scaring me, like idc about jobs getting taken away but the AI itself can be pretty destructive.
About Ather, I'm more bullish on them than Ola I think people have more trust in them🤷
if it's supported by SK market, it's bound to fail........
where we can get funding related recent data ? source
Commenting so that i may also be informed about this when someone who actually knows replies😂🤞
Meta open sources their models. Unfair comparison
As a open source contributor.... I feel like this is a wrong combination. ML and blockchain is like having a biscuit with dal fry.
Can make a social media for india but cloud provuders will suck the funding out of you. If someone can make their own data centers span India then it is highly doable.
😀
We have a dedicated word for such startups :- hawabaji
why would an open source AI project need blockchain? smells like a pure scam. Just host your code on a public git repo if your goal is transparency and open source
It's probably a scam. What has blockchain to do with AI?
Then why openai hires developers?? Technologies are not limited they are used to help different aspect of any product block chain will make it decentralised so that anyone can have its access in a controlled way
@@cadetmanishtiwari8694 No, the blockchain has nothing to do with AI. It will not help access in any way. We can access ChatGPT/ClaudeAI just fine. Blockchain decentralisation will only make the AI super dumb. Also, no one is running Polygon chain on GPUs. The blockchain is particularly bad for this use case. Btw, I have worked in crypto firms for about 3 years now and have worked as a data engineer in the past so I do know what I am talking about.
Bro just wants Indian views badly 😞
Chill out bro
What's the problem bro?? If any indian goes to earn money in any other country don't a foreigner can earn money from India?? Why so shallow?/😂
I'm guessing you are new to BWM. You see Caleb and immediately jumped to the conclusion that he's a foreigner making videos on India just to garner Indian views. Well, you are very wrong. Caleb and his team, which by the way are mostly Indians, have been making videos on Indian startups for quite some time now. Their videos are not only of good production quality, but also are quite well researched. PS: Caleb lives in India.
Thanks Davis 🙏🙂 Came here to say this but saw you've already taken care of it! Much appreciated. -Caleb
the seed Terminator Skynet has been planted