Tech & Startups
Why deal sizes are shrinking for top Indian IT companies
IT service providers are experiencing shrinking average deal sizes to as low as $25 million due to cost efficiencies, GenAI transformation, and shorter tenure projects amid uncertain macro-economic conditions. Despite an increase in large deal volume during FY23, industry analysts report a decrease in the average value of those deals. This comes even though Indian software exporters remain major players on the global stage.
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Will Wipro's fortunes reverse under a new CEO?
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Tech Newsletters
Stay tuned to know how the latest capital infusion into Zepto impacts the workings of this fledgling sector.
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.
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Tech Bytes
Unicorn count may rise to 152 in 5 years with valuation over $1 billion
According to the ASK Private Wealth Hurun India Future Unicorn Index 2024, India is poised to witness the addition of at least 152 new unicorns (startups valued over $1 billion) from 31 cities over the next 3-5 years. This growth would expand the current count of 67 unicorns. Throughout the year, there has been notable activity in the future unicorn list, with 25 startups dropping off. Additionally, 12 companies were downgraded from gazelle status to cheetah, while 10 moved up from cheetah to gazelle.
Bengaluru's Incluzza helps Google bring accessible gaming closer home
Project Gameface, is an open source, hands-free, on-device, AI-powered ‘mouse’ developed by Google that allows phones, computers to be controlled with facial expressions.
Infosys cuts average bonus to 60% for Q4
The average pay-out, according to several employees, has dropped to 60% for the final quarter of fiscal 2024. It had announced a variable bonus pay-out of 73% for the October-December period, 80% for the quarter through September and 75% for the first quarter of the fiscal year.
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