🕶️ India Leads Global IPO Revival

Six bullets of updates

1. 🙅 Big Tech says Australia "rushed" the social media ban for youths under 16 and that it was a "predetermined process.”  

2. 📛 Could AI be used to replace striking workers? Perplexity CEO taks about laborns concerns with AI.

3. 🚕 China's largest ride-hailing company, Didi Global, reports third-quarter rebound from regulatory crackdown.

4. ☢️ A nuclear fusion startup just reached a milestone in its bid to commercialize unlimited clean energy.

5. 🚗 For EV startups, things are going from bad to worse, including diminishing cash and uneven sales.

6. 🌪️ Meet two early-stage climate startups scaling breakthrough technologies.

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Indian Startups Gear Up for IPO Wave

India has emerged as a rare success story in the global IPO market, with its tech and startup ecosystem showing resilience against global economic challenges. While other major markets like the U.S., China, and Europe have seen a significant slowdown in tech IPOs, India has continued to grow. In 2024, 12 startups, including seven tech firms, went public, positioning India as a standout player.

Analysts attribute this momentum to macroeconomic stability, a robust innovation ecosystem, and increasing domestic capital. As a result, the country is now gearing up for over 20 anticipated startup IPOs in 2025, spanning sectors from e-commerce and security to professional services and logistics.

Prominent companies like Zepto, UrbanCompany, and Pine Labs are among those planning listings, alongside others like Swiggy, which already made waves this year with a $1.35 billion IPO—the most prominent global tech listing in 2024. This growth contrasts starkly with stagnating figures in the U.S. and a decline in China’s IPO activity. India’s capital markets have witnessed remarkable growth, with market liquidity tripling between 2019 and 2024. Experts like JPMorgan’s Abhinav Bharti note this provides a foundation for further tech expansion, with tech companies currently underrepresented in India’s benchmarks like Nifty 50. Read more.

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Startup Events and Deadlines

1. NYC B2B: Pre-Seed + Seed Founders & Investors Meetup | Dec 3 | NYC

2. Crash Course in Financial Modeling | Dec 5 | Webinar

3. EdTech | Dec 9 | Paris

4. From Pitch Deck to Funding | Dec 12 | Webinar

5. Entrepreneur First Bangalore - Core | Dec 12 | Webinar

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These companies just raised money

1. 🥡 Indian food delivery app Zomato has raised $1 billion from institutional investors, its first significant fundraising since its 2021 IPO.

2. 🧠 Pathway has just raised a $10M Seed round to build live AI systems that claim the company to think and learn in real-time as humans do.

3. 🕹️ KGeN raises $9.5M to decentralize gamer data ownership. The company is now valued at $430M.

4. 🔋 Colombian B2B Smart-energy provider Bia Energy secures $8.5M with climate-focused investors.

5. 🤒 Clinia, a Brazilian AI chatbot for enhancing patient engagement, raised $344K in a pre-seed round led by ABSeed Ventures.

6. 🤖 Brazilian prop-tech Imobia raised $100K in a round led by SC Ventures, bringing its total funding to $190K.

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Canadian Media Outlets Take Legal Action Against OpenAI

A coalition of five major Canadian media organizations, including CBC/Radio-Canada, Torstar, and Postmedia, has initiated a lawsuit against OpenAI. Companies accuse AI giants of using their content without authorization or compensation to train their models. In their statement, the group criticized OpenAI's actions as illegal, emphasizing that journalism serves the public good and should not be exploited for commercial gain.

This legal challenge is the latest in a series of hurdles for OpenAI. Earlier in November, Elon Musk expanded a lawsuit against OpenAI and its crucial supporter, Microsoft, accusing them of trying to dominate the generative AI market and suppress competition. These claims bring renewed attention to the ethical issues surrounding AI development and content usage.

The lawsuit raises broader questions about intellectual property and the responsibilities of AI companies. As generative AI continues to advance, the outcome of these legal battles may play a pivotal role in defining the boundaries between innovation and the rights of content creators. Read more. 

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Top 6 Startups that Apple Killed

Discover the hidden struggles of startups overshadowed by Apple’s features. From f.lux, the blue light app behind Night Shift, to Pebble, the smartwatch trailblazer eclipsed by Apple Watch, we uncover how Apple’s moves stifled innovations like Knock and Lala. This is a revealing look at small creators' uphill battle against tech giants. Subscribe here!

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