Funding match made in the cloud

Hello,

Looks like it's not just teachers and professors who are worried about ChatGPT.

Last week, investment bank JP Morgan announced it was cracking down on the use of OpenAI's AI-powered chatbots as part of restrictions imposed around third-party software. Citigroup and Goldman Sachs are also restricting the use of ChatGPT by employees.

IT services firm Tata Consultancy Services is a little more optimistic, saying generative AI platforms like ChatGPT will create an "AI co-worker" and not replace jobs.

The Microsoft-backed software, for sure, is not going anywhere. Job advice platform Resumebuilder.com found that companies are using ChatGPT for writing code, content creation, customer support, and preparing meeting summaries.

Meanwhile, the culling at the jobs market continues. Twitter again laid off about 50 employees from multiple engineering teams as a cost-cutting measure. Earlier, Ericsson announced plans to cut 8,500 jobs, or about 8% of its 105,000-strong workforce.

ICYMI: Six enormous galaxies that were formed just half a billion years after the Big Bang have been detected by astronomers, who call them ‘universe breakers’.

In today’s newsletter, we will talk about 

• Funding match made in the cloud
• Women's cricket in front and center
• Addressing cyber threats in MENA

Here’s your trivia for today: Which air carrier will be providing planes to Amazon's Prime Air private cargo service in India?

SaaS

Funding match made in the cloud

Funding is the biggest hurdle to success for most early-stage startups. This is where Bengaluru-based SaaS Insider comes in, with an app for SaaS founders and investors to connect and firm up deals. The app will include features such as discussion threads, job postings, and mentorship.

The matchmaker:

• In 2022, SaaS Insider helped 12 startups secure a total of around $30 million in seed and Series A funding from around 10 domestic VC firms.
• For the ‘matchmaking’, users have to be part of an ‘Insider Circle’ that has about 200 startups and VCs, with a total member count of 430.
• The app is expected to become active in June and is being designed for startups needing pre-seed to Series A funding.

Sports

Women's cricket in front and center

Nearly 15 years after the Indian Premier League (IPL) was launched, the inaugural Women's Premier League is set to kick off on March 4. The women’s version of the IPL will feature five teams—Royal Challengers Bangalore (RCB), Delhi Capitals, Mumbai Indians, UP Warriorz, and Gujarat Giants.

Key points:

• All matches are scheduled to be held in Mumbai at the 60,000-capacity DY Patil Stadium and the 20,000-seater Brabourne Stadium.
• India Vice-Captain Smriti Mandhana was signed for Rs 3.40 crore by RCB, while Jemimah Rodrigues and Shafali Verma (Delhi Capitals) were picked up in Rs 2 crore-plus deals.
• The Board of Control for Cricket in India auctioned teams for the WPL for a combined sum of Rs 4,670 crore.

Gulf

Addressing cyber threats in MENA

Cybercrime is a worldwide problem, with the UAE and Saudi Arabia at the brunt of the highest number of cyberattacks in the GCC region. India-based Technisanct wants to address the cyber threats specific to the region with its breach detection and notification platform, Integrite.

Protecting data:

• Integrite helps monitor customer data, payment transactional data, and credential leaks.
• Technisanct also offers services such as private intelligence and corporate fraud, forensic investigation, and risk monitoring.
• The highest demand for the startup’s services in the Middle East and North Africa region comes from finance, fintech, and telecom sectors.

News & updates

• Staying bullish: Warren Buffett’s Berkshire Hathaway posted fourth-quarter losses and nearly $23 billion in net losses for 2022. In a letter to shareholders, the American business magnate urged investors to focus on the bigger picture rather than short-term inflation.
• Luring subscribers: Netflix is cutting its prices in several of its smaller markets in an effort to keep its subscriber growth rolling amid stiff competition and inflation pressures. Countries including Jordan, Iran, Croatia, Slovenia, Bulgaria, and parts of sub-Saharan Africa are set to benefit from the move.
• Makeover: Nokia announced plans to revamp its brand identity for the first time in almost six decades, including a new logo, as part of its push for aggressive growth in the telecom equipment industry. While Nokia still aims to grow its service provider business, its main focus is now to sell equipment to other businesses.

Which air carrier will be providing planes to Amazon’s Prime Air private cargo service in India?

Answer: Quikjet Airlines.

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