Startup news and updates: Daily roundup (October 25, 2024)

Zoho to leverage NVIDIA NeMo to build LLMs

SaaS major Zoho is set to leverage NVIDIA's AI-accelerated computing platform, including NVIDIA NeMo from the NVIDIA AI Enterprise suite, to build and integrate large language models (LLMs) within its applications. 

The LLMs, once implemented, will be made available to the company’s global customer base of over 700,000 through its platforms ManageEngine and Zoho.com. In the past year, Zoho claims to have invested over $10 million in NVIDIA’s AI technology and GPUs, with plans to invest an additional $10 million over the next year. This announcement was made at the NVIDIA AI Summit in Mumbai.

“Many LLMs on the market today are designed for consumer use, offering limited value for businesses. At Zoho, our mission is to develop LLMs tailored specifically for a wide range of business use cases. Owning our entire tech stack, with products spanning various business functions, allows us to integrate the essential element that makes AI truly effective: context,” said Ramprakash Ramamoorthy, Director of AI at Zoho Corp.

Biocon Foundation awarded with ‘Doing Good for Bharat Awards 2024’  

Biocon Foundation, the Corporate Social Responsibility (CSR) division of the Biocon Group, has been honoured with the ‘Doing Good for Bharat Awards’ 2024 for its contribution to the healthcare category through its eLAJ Smart Clinics, an initiative to accelerate healthcare access for underserved communities. 

The award was presented during the 11th edition of the India CSR and ESG Summit, organised by CSRBOX in New Delhi. It was presented by Dinesh Gundu Rao, Minister of Health and Family Welfare, Government of Karnataka; Raj Bhushan Choudhary, Union Minister of State for Jal Shakti, Government of India; and Padma Shri Savji Dholakia, Founder and Chairman of Hare Krishna Exports and Dholakia Foundation.

Zypp Electric distributes gold and silver coins, allots ESOPs to delivery partners 

EV-as-a-service platform Zypp Electric has launched its festive campaign, “Zypp Diwali Bonanza: Top 30 Riders Pan-India to Receive Gold and Silver Coins,” running from October 20 to November 20, 2024.

This initiative is designed to celebrate Diwali while boosting gig workers' earnings and long-term benefits, along with supporting and rewarding both current and former Zypp Pilots with special festive perks. 

As a part of this campaign, the company has also introduced an Employee Stock Ownership Plan (ESOP) worth Rs 15 lakh for five of its longest-serving pilots.

Akash Gupta, Co-founder and CEO, Zypp Electric said, “Delivery Executives, whom we call Zypp Pilots, are at the heart of our operations. This Diwali, we want to give back in a way that truly makes a difference. Thanks to their hard work, we’re able to achieve 6 million green, carbon-free deliveries every month.”

South Korean firm Turing Co launches 'MathKong' app in India

Turing Co, a South Korean tech company, has introduced its AI-powered maths learning platform, 'MathKong,' to the Indian market. The platform aims to fuel maths education in India by offering personalised and interactive learning experiences specifically for Indian students. The firm is also participating in the K-Startup Centre (KSC) - India 2024, an accelerator programme hosted by The Circle: Founders Club.

In the initial phase of its Indian launch, MathKong has rolled out a beta version of the app, with plans to expand its features based on user feedback. The platform will soon offer a curriculum designed to meet the needs of Indian board exams, including CBSE, as well as competitive exams that students frequently prepare for. 

“India’s large and diverse student population makes it a strategic and exciting market for us. We believe that MathKong's AI-powered personalised learning approach can truly bridge the gap in maths education by offering high-quality, cost-free resources to students from all walks of life,” said Minkyu Choi, Founder, and CEO, of Turing Co.

Ola Electric introduces Ola Digital Twin Platform integrated with NVIDIA Omniverse

Electric two-wheeler manufacturer Ola Electric has introduced the Ola Digital Twin platform to enhance its manufacturing processes and product development lifecycle. Built on the NVIDIAOmniverse, this platform combines Krutrim AI, NVIDIA technologies, and other advanced simulation tools and IoT platforms. 

It creates digital twin environments that fuel the planning of Ola Electric’s manufacturing facilities, optimise equipment layouts, streamline product development lifecycles, and develop computer vision-based quality inspection systems.

By integrating NVIDIA Omniverse—a set of APIs, software development kits, and services that use Universal Scene Description (OpenUSD) for physical AI—along with NVIDIA Isaac Sim, a simulation platform designed for robot development and testing, Ola Electric has accelerated its manufacturing operations at the Futurefactory, achieving over 20% faster time to market from design to commissioning.

(This article will be updated with the latest news throughout the day.)