Google To Unleash AI, Tesla Power Vs Tesla Inc, Razorpay’s Rejigs and much more!

Google gears up to unleash AI content tools, while Tesla's trademark battle heats up in court. Nykaa's strategic shifts blend fashion and content, while Razorpay and Groww face tax twists. Amid legal tangles, Ashneer Grover and Madhuri Jain win travel nods, yet LinkedIn and leaders face hefty fines for ownership breaches.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“AI Ki Kraanti”: Google To Expand AI Content Tool In India In Coming Weeks

In the coming weeks, Google’s AI-powered Product Studio will roll out in India, enabling merchants to create engaging videos and GIFs from a single image.

Initially launched in the US and now available in Australia, Canada, and the UK, this innovative tool was showcased at Google Marketing Live on May 22.

Read more here

“Maamla Legal Hai”: Tesla Power Vs Tesla Inc As Delhi HC To Hear Trademark Infringement Case On May 28

The Delhi High Court is set to hear the trademark infringement case between Tesla Inc. and Tesla Power on May 28. Initially scheduled for May 22, the hearing was postponed due to time constraints, with earlier proceedings barring Tesla Power from advertising its EV products.

This legal tussle, filed by Elon Musk’s company, centers on allegations of trademark infringement and unfair competition.

Read more here

“Saathi Haath Badhana”: Nykaa Rejigs Business Verticals; To Merge LBB With Nykaa Fashion

Nykaa’s board has greenlit merging Little Black Book (LBB) with Nykaa Fashion, alongside acquiring Nykaa Fashion's western wear and accessories business for INR 133.7 Cr.

This shakeup comes as Nykaa's consolidated net profit dropped 48% to INR 9.07 Cr in Q4 FY23, with operating revenues also down 6% to INR 1,667.9 Cr.

Read more here

“Restructuring Ki Dastaan”: Razorpay Restructures To Cut Tax, Groww Might Pay $70 Mn In Tax

Razorpay is restructuring, consolidating its six India units under Razorpay Software India, potentially incurring up to $200 million in taxes.

Meanwhile, Groww's recent reverse flip, moving its domicile back to India from the US, has led to a hefty tax bill estimated between $60 million and $70 million.

Read more here

“Ye Doglapan Khatam Hi Nahi Hota”: Despite EOW Protests, Delhi HC Allows Ashneer Grover, Madhuri Jain To Travel Abroad ‘Separately’

Despite protests from the Economic Offences Wing (EOW), the Delhi High Court has granted Ashneer Grover and Madhuri Jain permission to travel abroad separately. The duo, at the heart of an alleged INR 81 Cr fraud at BharatPe, had filed a petition seeking to visit the US.

Previously barred from leaving the country without a court order due to an EOW lookout circular, they now have the green light to travel.

Read more here

“Bach Ke Rehna Re Baba”: LinkedIn India, Satya Nadella, Others Fined INR 27 Lakh For Breaching Beneficial Ownership Norms

LinkedIn India, along with CEO Satya Nadella and others, has been fined INR 27 lakh for violating significant beneficial owner norms under the Companies Act, 2013. LinkedIn India faces a penalty of INR 7 lakh, while Nadella and CEO Ryan Roslansky, among others, have been fined INR 2 lakh each.

The list of fined individuals includes several key figures such as Keith Ranger Dolliver and Ashutosh Gupta.

Read more here

1. Digital fitness startup Portl has secured $3 million (approximately INR 25 Cr) in funding from Bharat Innovation Fund to scale up its at-home fitness offerings. The round also saw participation from existing investor Kalaari Capital and new investor T-Hub Foundation.

   Read more here

2. Electric vehicle financing platform ProsParity has raised $2 million (around INR 16.6 Cr) in pre-seed funding to build a full-stack EV financing platform. The round was led by BEENEXT, All In Capital, and saw participation from Sparrow Capital, DeVC, and Huddle Ventures.

   Read more here

3. BluSmart Mobility, an EV ride-hailing service and charging infrastructure operator, is raising Rs 200 crore (approximately $24 million) in a pre-Series B round.

   Read more here

4. Fix My Curls, a top brand for curly and wavy hair care, has secured seed funding from Amazon's Smbhav Venture Fund. The round also saw participation from India Quotient and DSG Consumer Partners, aiming to enhance their haircare portfolio.

   Read more here

5. Nikhil Kamath, cofounder of Zerodha, has made a secondary investment in Mumbai-based talent management firm Collective Artists Network. The financial details of the deal remain undisclosed.

   Read more here

6. Freshleaf, a premium tea brand, has secured Rs 1 crore in its seed funding round led by Inflection Point Ventures. The funding will fuel their expansion in marketing, production capacity, and research and development for new products.

   Read more here