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You shouldn’t compare apples to oranges, but similarly, comparing iPhones and Android is a fool’s errand. After 11 years, Apple is finally phasing out the Lightning connector in favor of a more universal standard: USB-C. With a ton of products, there is a renewed conversation about silos and open standards. Apple has long drawn the ire of Android users who have been locked out of the iMessage standard, and workarounds have come and gone from time to time. These days, Android users can now send their iMessages to their iPhone users using an app called Beeper. To everyone’s surprise, Apple quickly shut it down, drawing attention from all angles, especially the Senate. Of course, neither Apple nor Android are startups, so what’s this doing as a Startups Weekly headline? Well, this is before products like Beeper disappear from existence again just as quickly. I think it will be a very good reminder that there is a possibility of explosively appearing on the scene. Whether you’re building on the Apple ecosystem or ChatGPT, or your company relies heavily on another service entirely, you’re placing your success entirely at the whims of a company over which you have little or no control. Not worth fixing. A small soapbox speech is unobtrusive. . . As we reach the middle of December, let’s take a look at what else happened in the startup world. A sea of rocks in the startup ecosystem Image credits: Diane Keogh (Opens in new window) / Getty Images In an epic plot twist, Omidyar Network, the philanthropic investment firm founded by eBay’s Pierre Omidyar, is bidding farewell to India after 13 years. Despite recent investment and public engagement, they have ceased operations, citing “significant changes in circumstances” and the rise of local philanthropy and venture capital. They boast a catalytic influence, but their sudden withdrawal after a difficult year (think of the fire sale of a startup that received support) has left many in India’s startup world perplexed. I’m letting you do it. Analysts fear this is part of a broader trend. Manish reported that Indian startups have raised about $7 billion in funding this year, down from about $25 billion in 2022 and $37 billion in 2021. Other venture and funding news: Shark fintech soup: SumUp, a fintech company for small and medium-sized businesses, is investing €285 million in a survival kit to fight the fintech storm. The company is planting its flag in new markets and adding shiny features to its payment methods, but the funding situation is as enticing as a shark tank. Despite boasting a brighter EBITDA outlook, customer numbers have remained unchanged for two years. Fintech is hard work, people. OpenAI is investing in India. In a bold move, OpenAI is integrating into India’s AI industry by enlisting former Twitter India chief executive Rishi Jaitly to act as a local watchdog. They are reportedly working towards setting up a team in India, but there is no formal presence yet, just a fledgling trademark. Jaitly helps OpenAI navigate India’s complex policy landscape. Rocket fuel is: In the latest ‘slow and steady doesn’t win the race’ move, Paris-based startup studio Hexa, which just closed $22 million in funding, has introduced Hexa Scale. This program targets his B2B companies that are stuck in the slump of linear growth and offers a lifeline back to the sexier world of exponential growth. AI movement Image credits: mathisworks/Getty Images Introducing Sarvam AI. The Indian startup is just a 5-month-old baby, but he has already raised a whopping $41 million in funding to strengthen its financial strength. Who said startups have to crawl before they can walk? Sarvam AI aims to build full-stack generative AI products, skipping the baby stage and jumping straight into the AI playground. is. They’re not just tinkering with language models; They are rethinking them with a focus on Indian languages and voice interfaces. It’s like watching a superhero origin story, but for an AI startup. If Sarvam‘s $41 million funding round wasn’t enough of a reminder that AI is smoldering, Parisian startup Mistral AI has raised a whopping $415 million in funding. Think about completing a round and just plainly saying “au revoir.” The company is passionate about shaping the future of AI with a distinctly European flair. Roman delves into why Silicon Valley needs to be cautious. This content was originally published on TechCrunch. Read the original article.
Source: techcrunch.com
