Meet the latest unicorn, Jumbotail; Timbuckdo helps students earn, save
B2B ecommerce and retail platform for food and grocery, Jumbotail, has raised $120 million in a Series D funding round led by SC Ventures. Bengaluru-based startup Timbuckdo is on a mission to help college students earn, save, and grow.
Hello,
The OpenAI vs Meta’s AI talent war is escalating.
After Meta poached eight OpenAI researchers, there’s reportedly growing anxiety in the ChatGPT maker. Its chief resource officer, Mark Chen, has assured staff that the leadership was revisiting compensation structures. According to Wired, he addressed Meta’s aggressive recruitment tactics in a memo, saying, “as if someone has broken into our house and stolen something.”
Meanwhile, one of the poached employees dismissed reports of Meta offering $100 million signing bonuses, suggesting that it was Sam Altman’s strategy to prevent the brain drain.
While AI is certainly making money, it has cost the environment.
Google’s latest environmental impact report has revealed a sharp 51% rise in its carbon emissions since 2019, as the company’s rapid investment in AI increasingly strains its climate commitments.
Recap: June was all about mega funding deals in AI, why AI unicorn companies may be lean, and cracks in reasoning models.
Elsewhere, scientists may have just had a rendezvous with resurrection, but it’s not what you think.
Astronomers in Australia picked up a strange radio signal in mid-June, and they thought they were observing something exotic. But it turned out to be a 60-year-old defunct satellite that had come back to life.
How? An abrupt release of static electricity!
In today’s newsletter, we will talk about
- Jumbotail turns unicorn
- Timbuckdo helps students earn, save
- How AI is boosting maternal health
Here’s your trivia for today: Which musical holds the record for most Tony nominations?
Startup
Jumbotail turns unicorn
B2B ecommerce and retail platform for food and grocery, Jumbotail, has raised $120 million in a Series D funding round led by SC Ventures. The round saw continued participation from existing investor Artal Asia, bringing the company’s total funding to $263 million to date.
The fundraise comes alongside Jumbotail’s acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures.
Key takeaways:
- According to reports, Jumbotail’s valuation stood at $1 billion, making it the fifth private company to reach unicorn status this year. The company did not comment on the valuation.
- Founded in 2015, Jumbotail operates a digital marketplace, a logistics network, and a suite of fintech solutions, including working capital products and its J24 modern convenience store format.
- Solv, which will be integrated into Jumbotail’s operations, brings expertise in softlines and financial services aimed at supporting brand distribution networks.
S Karthik Venkateswaran (R) with co-founder Ashish Jhina (L) started Jumbotail in 2015.
Funding Alert
Startup: Jumbotail
Amount: $120M
Round: Series D
Startup: Infra.Market
Amount: $50M
Round: Debt
Startup: Eggoz
Amount: $20M
Round: Series C
Startup
Timbuckdo helps students earn, save
Founded in 2022 by Mythri Kumar and joined by Apoorv Prasad in 2024, Bengaluru-based startup Timbuckdo is on a mission to help college students earn, save, and grow. The startup offers verified part-time jobs, curated student discounts, and AI-led tools to build real-world skills for students.
Savings:
- Timbuckdo’s QR-based discount system offers instant savings to students at walk-in stores. An AI chatbot acts as a personal productivity and income planner, helping students manage time and earnings effectively.
- The company is actively expanding its student reach by partnering with colleges and companies across major metro cities, including Bengaluru, Mumbai, Hyderabad, Pune, Jaipur, Delhi-NCR, and Chennai.
- For students, Timbuckdo is free to use, and for employers, the startup offers flexible subscription plans, starting at Rs 499/month, making it accessible for MSMEs, startups, and retail chains to onboard young talent.
Social impact
AI boosting maternal health
In a country where maternal mortality remains alarmingly high, an innovative collaboration between ARMMAN, a nonprofit working on maternal and child health, and Google DeepMind’s AI for Social Good initiative is showing how AI can become a powerful public health tool.
With millions of women and infants across India at risk, the partnership is leveraging AI to drive behavioural change and improve healthcare outcomes for underserved communities at scale.
News & updates
- Crypto fraud: A cryptocurrency investment fraud ring that investigators said laundered 460 million euros ($540 million) using a worldwide network of accomplices has been dismantled in Spain, European police body Europol said.
- Fusion power: Google will buy half the output of Commonwealth Fusion System’s (CFS) first commercial power plant. CFS will send Google 200 megawatts of electricity from its Arc power plant, which is expected to come online in the early 2030s.
- F1 movie: Brad Pitt’s original racing drama “F1” drove to the top of the box office charts, collecting a sizable $88.4 million internationally and $144 million globally in its opening weekend.
Which musical holds the record for most Tony nominations?
Answer: Hamilton. It was nominated for 16 awards.
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