India’s fast-growing quick commerce market is getting a new deeply-pocketed entrant: Flipkart, India’s largest e-commerce firm. Flipkart has started to roll out Flipkart Minutes, its quick commerce service, in parts of Bengaluru. The new service offers customers the ability to have a wide-range of items, from grocery to smartphones, delivered to them within 10 minutes. […]
U.S. Commerce Department report endorses ‘open’ AI models
The U.S. Commerce Department today issued a report in support of “open-weight” generative AI models like Meta’s Llama 3.1, but recommended the government develop “new capabilities” to monitor these models for potential risks. The report, authored by the Commerce Department’s National Telecommunications and Information Administration (NTIA), finds that open-weight models broaden generative AI’s availability to […]
U.S. Commerce Department report endorses ‘open’ AI models
The U.S. Commerce Department today issued a report in support of “open-weight” generative AI models like Meta’s Llama 3.1, but recommended the government develop “new capabilities” to monitor these models for potential risks. The report, authored by the Commerce Department’s National Telecommunications and Information Administration (NTIA), finds that open-weight models broaden generative AI’s availability to […]
Can quick commerce leapfrog e-commerce in India?
Even as quick commerce startups are retreating, consolidating or shutting down in many parts of the world, the model is showing encouraging signs in India. Consumers in urban cities are embracing the convenience of having groceries delivered to their doorstep in just 10 minutes. The companies making those deliveries — Blinkit, Zepto and Swiggy’s Instamart […]
Meesho, an Indian social commerce with 150M transacting users, secures $275M in new funding
Meesho, a leading e-commerce startup in India with about 150 million transacting users, has secured $ 275 million in a new funding round, it disclosed in a securities filing. The new funding is part of a larger financing round, which is likely to include secondary transactions and balloon to over $ 500 million, people familiar […]