News Update
InMobi, adtech firm, plans to reduce 125 jobs in AI restructuring
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ByStartupStory | January 11, 2024
InMobi, the adtech company, is reportedly set to release around 125 employees as part of its implementation of artificial intelligence (AI) across its operations. This move is anticipated to affect approximately 5% of its global workforce of 2,500.According to a source cited by The Economic Times, InMobi Group is undergoing a comprehensive overhaul in various business areas, incorporating AI in technology, organizational structure, personnel, and skills.
The reported layoffs align with recent changes at One97 Communication, the parent company of Paytm, which resulted in the reduction of over 1,000 jobs. Paytm stated that it is integrating AI-powered automation to eliminate repetitive tasks and roles.Despite inquiries.
Last July, enterprise ecommerce startup Dukaan replaced 90% of its support staff with an AI chatbot, showcasing a trend toward automation in various sectors.In November, Rajeev Chandrasekhar, the Union Minister of State for Electronics, Information, and Technology, dismissed concerns about AI taking away jobs in India.
Elon Musk, CEO of Tesla Motors, warned about the impact of AI on employment, describing it as the “most disruptive force in history.” Musk envisions a future where AI surpasses human intelligence, potentially rendering many jobs unnecessary, except for personal satisfaction.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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