Your Hub for Tech News and Handy Online Tools.
Rapido, an Indian ride-hailing platform, has doubled its valuation to $2.3 billion after Swiggy sold its 12% stake for $270 million. Prosus acquired 10% for $222 million, and WestBridge Capital purchased the remainder for $49 million.
Rapido is venturing into food delivery, challenging Swiggy and Zomato, after Swiggy backed Rapido with $180 million in 2022. Uber's CEO considers Rapido its biggest rival in India.
Swiggy is expanding its quick commerce business, Instamart, with significant growth in order value and revenue. Instamart's revenue has doubled to $254 million.
Goodnotes is launching new features aimed at professionals, including a collaborative whiteboard, document creation capabilities, and an AI assistant that can summarize meetings, create visuals, proofread text, and generate templates. The AI assistant supports handwriting, typing, sketches, and voice input.
The company acquired a South Korean startup specializing in meeting and video summaries to power these new features. Goodnotes is also introducing Goodnotes Essentials ($11.99/year) and Goodnotes Pro ($35.99/year) plans, offering features like AI for Q&A and math, Google Calendar and OneDrive integration, and AI-powered content suggestions.
Goodnotes aims to become a comprehensive notetaking app for all users and devices. They report having over 25 million monthly active users.
Jaguar Land Rover has extended the production suspension at its UK factories for another week following a cyberattack in early September. The company stopped production after hackers stole company data, the extent of which remains undisclosed.
The production halt will continue until Wednesday, October 1, but the company has not committed to resuming production then. This decision aims to provide clarity as they build a timeline for a phased restart and continue their investigation.
The ongoing shutdown, now in its third week, is also impacting suppliers, raising concerns about potential bankruptcies.
Despite the rise of AI-assisted vibe coding, dedicated mobile apps in this area are failing to gain significant traction. Analysis of app store trends reveals low downloads and minimal revenue for vibe coding apps. While the market is young and new apps are emerging, most vibe coding activity remains on desktop. However, vibe coding is increasingly powering existing mobile apps, with platforms like RevenueCat seeing a surge in AI-driven subscriptions. Despite user interest and integration of AI tools in development processes, developers report the technology still requires significant refinement.
WhatsApp has launched a new feature that allows users to translate messages directly within the app. This update is available for both iOS and Android users. To translate a message, users can long-press on the message and select 'Translate'. They can then choose the desired language for translation.
Android users have the option to enable automatic translation for entire chat threads. WhatsApp emphasizes that the translations are processed on the user's device, ensuring message encryption and privacy. This feature aims to facilitate communication across different languages for WhatsApp's global user base.
The translation feature is available in one-on-one chats, groups, and Channel updates. Android users can translate into six languages: English, Spanish, Hindi, Portuguese, Russian, and Arabic. iPhone users have access to a broader range of languages, including Arabic, Dutch, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Mandarin Chinese, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Ukrainian, and Vietnamese.
California-based startup Telo has raised $20 million in Series A funding to develop its MT1, a small electric truck designed for urban environments. The funding round was co-led by Yves Béhar and Tesla co-founder Marc Tarpenning, with additional investment from Salesforce CEO Marc Benioff and other early-stage funds.
Telo aims to address the challenges faced by larger electric trucks by focusing on a compact design and a starting price of around $41,000. The company plans to use the funding to build a production-intent version of the MT1, meet U.S. safety standards, and conduct crash testing. Telo plans to manufacture around 5,000 vehicles per year via contract manufacturing.
The MT1 is designed to seat five people and has a five-foot bed, with a range of approximately 350 miles on a full battery. Telo intends to target city-dwellers, with the first deliveries expected by the end of 2026.
Tim Chen, the solo VC behind Essence VC, has successfully closed his fourth fund with $41 million. This occurred without active fundraising efforts, as investors eagerly pre-empted the process.
The surge in interest followed the acquisition of Tabular, one of Chen's portfolio companies from his second round, by Databricks for approximately $2.2 billion in 2024. This acquisition significantly elevated Chen's profile among LPs, who began to recognize his expertise.
Chen's focus on early-stage developer-tool and infrastructure startups, combined with his background as a software engineer, sets him apart in the venture capital landscape. His ability to assist founders in product development, as demonstrated with ComfyUI, further enhances his appeal to both founders and investors.
Fund IV is supported by investors such as Tomasz Tunguz and Ethan Kurzweil. Chen's unique background as an infrastructure engineer is recognized as a valuable asset in the VC world.