Asia

Indian generative artificial intelligence (AI) startup Sarvam AI has announced that it is working with Microsoft to make its Indic voice large language model (LLM) available on Azure. The collaboration reinforces Microsoft’s commitment to enabling AI-driven growth and innovation in India.

The electric vehicle (EV) market is on track for a watershed year in 2024 as emissions reduction targets clash with falling consumer spending amid enduring economic uncertainty, Rystad Energy said Wednesday. Rystad Energy research forecasts 17.5 million EV sales this year, an 18.5 percent annual increase.

Netherlands-based Orient Growth Ventures said Thursday it has completed final closing of second fund at $90 million for Southeast Asia and India.

Crypto industry veterans Nischal Shetty and Avinash Shekhar have on Wednesday announced the launch of their new venture, Pi42, India's first Crypto-INR Perpetual Futures Exchange. Pi42 aims to grow as the largest compliant crypto futures platform in the world.

Khyaal, an Indian app for senior citizens, has raised $4.2 million in a seed funding round. The round was co-led by 62Ventures, SVQuad, and Inventus Capital. Glen Tullman, Kanwal Rekhi, Raju Reddy, and Raj-Ann Gill, were also among the distinguished entrepreneurs and investors who participated in this round.

It was a challenging year for fintech investment in theAsia Pacific (ASPAC) region, as it sees its fintech investment fall more than 75 percent, KPMG said Tuesday. According to its Pulse of Fintech report, the region saw $10.8 billion in investment across 882 deals in 2023, compared to $51.3 billion across 1,537 deals in 2022.

Indian live commerce software as a service (SaaS) Swirl has raised $1.1 million in a seed round led by Shastra VC and other renowned Angel Investors. The round also saw participation from accomplished angel investors spanning India, Middle East, and United States.

To help increase access to finance for smaller businesses in Nepal, including women-owned firms, and foster climate-friendly projects, International Finance Corporation (IFC) is investing $56 million in Global IME Bank Limited (GIBL), the largest commercial bank in the country.

“There are market rumours that the negotiations for the potential sale have collapsed,” Deliver Hero said in a statement, according to the report. “We confirm that the negotiations for the potential sale are ongoing.”

Asia United Bank (AUB), a publicly listed banks in the Philippines, has partnered with Alipay+, a China-based cross-border mobile payments and marketing platform by Ant International, to enable scan-to-pay feature for cross-border payments in South Korea, Malaysia, Hong Kong.