Startup twists & turns on IPO street; and other top tech and startup stories this week
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Former Tech M India business head quits to set up AI startup
Former Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore. The startup is likely to commence operations in the next three months. We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million, Mitra -- one of the contenders for the post of Tech Mahindra CEO position after CP Gurnani resigned -- told PTI. Cost arbitrage factor, driven by manpower, is going to be seriously impacted. It...
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London's first defense tech hackathon brings Ukraine war closer to the city's startups
Last week, the U.K. announced its largest ever military support package for Ukraine. The bill brings the U.K.’s total support for this financial year to £3 billion — not quite the $50 billion the U.S. pledged recently, but still substantial. But while most of those funds will be spent on very traditional military hardware, a […] © 2024 TechCrunch. All rights reserved. For personal use only.
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UK competition watchdog steps up scrutiny of big tech’s role in AI startups
Microsoft and Amazon asked to comment on tie-ups, a move that paves way for formal investigationThe UK competition watchdog has stepped up its scrutiny of big tech involvement in artificial intelligence startups, asking for comment on three deals by Microsoft and Amazon.The Competition and Markets Authority (CMA) announced that it was examining Microsoft’s investment in the French firm Mistral and the hiring of the DeepMind co-founder Mustafa Suleyman as head of the US company’s new AI division....