Author: Sreelatha M

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Leaders

Ex-Uber CEO launches robotics startup Atoms

Travis Kalanick, the former chief executive of Uber, has launched a new robotics venture called Atoms, signalling his renewed focus on technology and automation. The startup will develop robots designed to perform specific physical tasks across industries such as mining, logistics and food services.

The announcement marks Kalanick’s latest entrepreneurial move since stepping down from Uber in 2017. Through Atoms, he aims to build advanced robotic systems that can handle labour-intensive work, improve efficiency and support industries where automation is increasingly needed.

Atoms has evolved from Kalanick’s earlier venture, City Storage Systems, which he founded after leaving Uber. The company has now been repositioned as a robotics platform, bringing together several projects under a single technology-focused brand. Kalanick’s ghost-kitchen business, CloudKitchens, is also part of the broader ecosystem linked to the new venture.

Unlike companies developing humanoid robots, Atoms will focus on task-specific machines built to carry out particular functions. The approach is intended to speed up real-world adoption, as robots designed for specific jobs can be deployed more easily in industrial settings.

The company plans to operate through multiple divisions, including Atoms Food, Atoms Mining and Atoms Transport. Each unit will focus on building robotic tools tailored to the needs of different industries. For example, robots could assist in food preparation and packaging, help manage operations in hazardous mining environments, or automate parts of the logistics and transportation process.

Kalanick believes advances in artificial intelligence and robotics are creating opportunities to automate more physical work across industries. According to him, specialised robots could significantly improve productivity while reducing the risks associated with dangerous or repetitive tasks.

The robotics project has reportedly been in development for several years before being publicly revealed. During this period, teams worked on building the technology and testing its potential applications in different sectors.

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Technology

Google, Accel pick five India-linked AI startups

Google and venture capital firm Accel have chosen five artificial intelligence startups connected to India after evaluating more than 4,000 applications for their joint accelerator program, emphasizing the growing importance of building original AI technology rather than simple integrations.

The startups were selected for the Atoms accelerator, a program launched by Google and Accel to support early-stage AI companies developing products tied to India’s technology ecosystem. After a rigorous selection process, the firms picked K-Dense, Dodge.ai, Persistence Labs, Zingroll, and Level Plane for the new cohort.

During the screening process, investors found that a large portion of submissions lacked substantial technological depth. Around 70% of the applications were categorized as “AI wrappers,” meaning the products mainly relied on existing large AI models without creating meaningful proprietary technology or infrastructure.

According to the organizers, the final five startups demonstrated stronger technical foundations and clearer long-term innovation potential. Each company focuses on a different application of AI across industries.

K-Dense is developing an AI “co-scientist” aimed at supporting researchers and accelerating discoveries in fields such as life sciences and chemistry. Dodge.ai is building autonomous AI agents designed to work within enterprise resource planning (ERP) systems. Persistence Labs is working on voice-based artificial intelligence tools for customer service and call-center operations.

Meanwhile, Zingroll is building a platform that enables AI-generated content for film and television production. Level Plane focuses on creating AI solutions to streamline enterprise workflows and improve operational efficiency.

Startups selected for the program may receive up to $2 million in investment from Accel and Google’s AI Futures Fund. In addition, they can access up to $350,000 worth of cloud and computing credits, including infrastructure from Google Cloud and advanced AI tools such as Gemini.

The initiative reflects a broader shift in the startup ecosystem, where investors are becoming more cautious about companies that simply layer existing AI models onto products without developing unique technology.

Through the accelerator, Google and Accel aim to support startups capable of building deeper AI systems with long-term global potential, while strengthening India’s growing role in the artificial intelligence landscape.

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Corporate

Accenture names new leaders for reinvention services

Global professional services firm Accenture has announced a new leadership structure for its Reinvention Services division as part of a broader reorganisation aimed at strengthening its artificial intelligence-led transformation capabilities for clients worldwide.

The restructuring, which will take effect from March 31, 2026, is designed to help the company respond to rising demand from organisations seeking large-scale digital transformation driven by data and generative AI technologies.

The new Reinvention Services unit will be overseen by Manish Sharma, who serves as Chief Strategy and Services Officer at Accenture. In this role, Sharma will lead the company’s integrated services business and guide its strategy for helping clients modernise operations and adopt AI-enabled solutions.

Accenture said the leadership changes are part of a new operating model intended to bring together the company’s diverse capabilities into a more unified framework. By integrating expertise across strategy, consulting, technology, operations and creative services, the firm aims to deliver faster and more comprehensive transformation programmes for enterprises across industries.

Under the revised structure, Accenture will organise its services around how organisations operate and deliver value. The company will introduce seven specialised groups known as “Reinvention Partners,” each focused on a specific area of business transformation. These groups are designed to provide clients with end-to-end capabilities, enabling them to access technology, consulting and operational expertise through a single integrated structure.

The new leadership team will also work closely with Accenture’s global ecosystem of technology partners to accelerate the development and deployment of AI-powered solutions. The company believes this approach will allow clients to more quickly adopt emerging technologies and scale innovation across their organisations.

According to Accenture, the restructuring reflects the growing importance of artificial intelligence in enterprise transformation. Companies across sectors are increasingly investing in generative AI and digital platforms to improve productivity, enhance customer experiences and unlock new growth opportunities.

With the revamped services structure and leadership team in place, Accenture aims to strengthen its position in the rapidly evolving AI and digital transformation market, while helping organisations adapt to changing technology landscapes and reinvent their operations for the future.

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Corporate

Paytm to restart physical gold delivery in April

Paytm has announced that it will start delivering physical gold to its digital gold customers again from mid‑April. The service had been paused since August 2025, but will now return just in time for Akshaya Tritiya, a popular occasion for buying gold in India.

During the pause, investors could still buy and sell digital gold on Paytm, but they could not receive actual gold coins or bars. The company says the break was needed to upgrade its technology and delivery system, making it easier for customers across the country to get their gold.

When the service resumes, customers in more than 12,000 pin codes will be able to order physical gold. Paytm says that while delivery was paused, all other digital gold options like buying, selling, or cashing out remained available.

Digital gold has become popular because people can buy even tiny amounts, sometimes as low as Re 1, using easy payment options like UPI. In January 2026 alone, digital gold transactions in India reached ₹3,926 crore, with 219 million purchases recorded.

With digital gold on Paytm, the gold you buy is stored in secure vaults managed by partners like MMTC‑PAMP. Audits make sure the digital gold you own matches the actual gold stored safely.

Paytm isn’t the only platform offering digital gold. Others like PhonePe, Google Pay, and Jar also provide similar services, including the option to get physical gold. Delivery charges, GST, and minimum purchase amounts may differ across platforms.

By restarting physical delivery, Paytm aims to strengthen trust in its digital gold service and make it easier for customers to access real gold whenever they want.

Also Read: Inflation hits India by 3.21% in February

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Corporate

NSE appoints 20 banks, 8 law Firms for mega IPO

The National Stock Exchange of India (NSE) has taken a key step toward its highly anticipated initial public offering (IPO) by appointing 20 merchant banks and eight law firms to manage the process. This marks one of the largest advisory rosters for an Indian IPO, highlighting the scale of the listing.

The selected merchant bankers include India’s leading firms such as Kotak Mahindra Capital, ICICI Securities, Axis Capital, JM Financial, SBI Capital Markets, IIFL Capital Services, and Nuvama Wealth Management. International banks like Morgan Stanley, Citigroup, and J.P. Morgan will also assist in managing the IPO.

On the legal side, the NSE has engaged top Indian law firms including Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, AZB & Partners, Khaitan & Co, Trilegal, and S&R Associates. Global legal advisors such as Latham & Watkins and Sidley Austin will provide additional support.

The IPO is expected to be primarily an offer-for-sale (OFS), allowing existing shareholders to sell a portion of their holdings rather than raising significant new capital. This approach reflects the NSE’s strategy to let current investors unlock value while listing on the public market.

The exchange has been preparing for a public listing for several years, with regulatory approvals and compliance reviews causing delays. The Securities and Exchange Board of India (SEBI) granted final clearance for the IPO earlier this year, enabling the NSE to move forward with its plans.

With the advisory teams in place, the NSE is set to begin drafting its detailed offer documents, a process that may take several months. Market observers note that the listing could become one of the most closely watched IPOs in India, given the NSE’s critical role in the country’s capital markets and the scale of its operations.

The move has generated optimism among investors, with NSE’s unlisted shares remaining stable amid broader market volatility. The participation of leading domestic and international banks and law firms signals the IPO’s potential to attract significant interest from institutional and retail investors alike.

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Beyond

India plans $11 bn fund for domestic chip industry

The government is planning to launch a new fund worth about $11 billion (around ₹1 trillion) to strengthen the country’s semiconductor industry and encourage local chip manufacturing. The proposed fund is part of India’s long-term strategy to reduce reliance on imported semiconductors and build a strong domestic electronics ecosystem.

The initiative is expected to support companies involved in chip design, fabrication, packaging, and supply chain development. Officials familiar with the plan say the fund may be announced within the next few months, although final details are still being discussed.

India has been actively pushing to expand its semiconductor capabilities in recent years. In 2021, the government introduced a major incentive programme offering subsidies of up to 50% for companies setting up semiconductor and display manufacturing plants in the country. That policy helped attract investments from global firms and large Indian conglomerates.

Projects backed under the earlier scheme include semiconductor-related investments by companies such as Micron Technology and Tata Group. These projects are expected to play an important role in building India’s chip manufacturing base, which is still at an early stage compared with major global producers.

Semiconductors are essential components used in a wide range of products including smartphones, computers, cars, artificial intelligence systems, telecommunications equipment and consumer electronics. As global demand for chips continues to grow, many countries are investing heavily in domestic manufacturing to secure supply chains and reduce geopolitical risks.

India currently imports most of the semiconductors it uses, despite having a large electronics manufacturing sector and a strong pool of engineering talent. The government hopes the new funding initiative will encourage both domestic and international companies to set up more chip-related operations in the country.

Officials believe the additional financial support could help accelerate the development of a full semiconductor ecosystem in India, covering everything from research and design to manufacturing and advanced packaging.

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Leaders

Dr. Rasha Kelej among top 100 impactful voices 2026

Dr. Rasha Kelej, CEO of the Merck Foundation, has been named one of the “100 Most Impactful Voices 2026” by ABCD Africa, highlighting African women leaders who are making a tangible difference in their communities. The announcement, timed ahead of International Women’s Day 2026, celebrates women across all 54 African nations who are driving social change, including heads of state and influential community leaders.

This accolade adds to Dr. Kelej’s long list of recognitions. She was listed among the “100 Most Influential Africans 2025” by New African Magazine and has been acknowledged for seven consecutive years among the “100 Most Influential African Women” by Avance Media. These honours reflect her dedication to expanding healthcare access, promoting girls’ education, and empowering women throughout Africa.

In a statement, Dr. Kelej expressed her gratitude for the recognition and highlighted the foundation’s work over the past 14 years. She spoke of her commitment to strengthening healthcare services, transforming patient care, combating infertility stigma, and supporting education for underprivileged girls. She also congratulated fellow honourees and emphasised the power of collective efforts in creating positive change.

Under her leadership, the Merck Foundation has trained thousands of healthcare providers through scholarships in 44 critical medical fields across 52 countries. In collaboration with African first ladies, the foundation provides annual scholarships to over 1,200 high-achieving but underprivileged girls from 19 countries, helping them complete their education and build careers.

Dr. Kelej is also the founder of the “Merck Foundation More Than a Mother” campaign, a programme supporting infertile and childless women through education, counselling, and healthcare services. Beyond this, she has led initiatives to address child marriage, female genital mutilation, and health awareness on conditions such as diabetes, hypertension, and cancer through media campaigns, storybooks, and community outreach.

Also Read: Atlassian to cut 1,600 jobs, company roots for AI

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Corporate

Atlassian to cut 1,600 jobs, company roots for AI

Atlassian, the software company behind Jira, Confluence, and Trello, announced it will lay off around 1,600 employees, roughly 10% of its global workforce, as part of a major restructuring to focus on artificial intelligence (AI).

CEO Mike Cannon-Brookes told employees that AI is transforming the way the company builds and sells products. While AI is not directly replacing people, the shift means the company needs different skills and roles to develop AI-driven tools for businesses. The layoffs are meant to realign resources toward AI and enterprise-focused products.

The company expects the restructuring to cost $225 million to $236 million, including severance and office-related expenses, mostly in the current fiscal quarter. The cuts affect employees worldwide, with about 40% in North America, 30% in Australia, and 16% in India. In addition, Chief Technology Officer Rajeev Rajan will step down on March 31, with new leadership overseeing the AI strategy.

Investors reacted positively, with Atlassian shares rising nearly 2% in after-hours trading, as the move is seen as a step toward a leaner, more focused company. However, analysts caution that layoffs alone may not solve bigger challenges, such as profitability and adapting existing products to the AI era.

 Atlassian emphasized that the layoffs are not a reflection of performance but a strategic shift to prepare for the AI-driven future.

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1 Minute-Read

PM Modi unveils ₹10,800 cr projects in Kerala

Prime Minister Narendra Modi on Tuesday inaugurated and laid the foundation stone for development projects worth ₹10,800 crore in Ernakulam, Kerala. The initiatives aim to improve infrastructure, boost industries and strengthen transport and energy sectors in the state.

Among the major projects is a polypropylene unit at the Kochi Refinery of Bharat Petroleum Corporation Limited, expected to support petrochemical industries and create jobs. The Prime Minister also inaugurated road projects, including the widening of stretches of National Highway 66, and launched a floating solar power project at West Kallada to promote renewable energy in Kerala.

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Corporate

Innovision IPO valued at ₹323 crore sees slow start

The Innovision Ltd initial public offering (IPO) got off to a subdued start on its first day of subscription, with investor response remaining muted. Priced between ₹521 and ₹548 per share, the ₹323‑crore IPO was subscribed by less than 1 per cent by mid‑day, according to exchange data.

Most of the early bids came from retail individual investors (RIIs). By afternoon, the retail portion, allocated about 40 lakh shares, was only 1 per cent subscribed, with around 30,672 bids submitted. The majority of these were at the cut‑off price, indicating cautious optimism among smaller investors.

Meanwhile, demand from non‑institutional investors (NIIs) was very low, with just 378 shares bid against an allocation of over 20 lakh shares. Qualified institutional buyers (QIBs) showed minimal activity, highlighting hesitancy among large institutional investors on the opening day.

Headquartered in Gurgaon, Innovision operates in manpower services and toll plaza management, covering 23 states and five union territories. The company has reported strong revenue and profit growth in recent years, driven by its experience in manpower supply and toll operations.

The IPO comprises a fresh issue of ₹255 crore and an offer for sale of 12.38 lakh shares. The proceeds will be used to repay borrowings, support working capital needs, and for general corporate purposes. If fully subscribed, Innovision’s post-IPO market capitalisation is expected to be around ₹1,290 crore.

With subscription slow on Day 1, attention now turns to whether interest will pick up in the remaining two days, as the IPO closes on March 12.

Allotment is expected by March 13, and the shares are tentatively set to list on March 17 on both the BSE and NSE.

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