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India’s crime-fighting agency searched three premises of edtech giant Byju’s and its founder Byju Raveendran, it said Saturday, and seized various “incriminating” documents and digital data. The Enforcement Directorate said it conducted the searches under the provisions of the nation’s anti-money laundering law, but declined to elaborate. The agency has conducted several similar probes in […] Edtech giant Byju’s, founder under India’s financial crime agency radar by Manish Singh originally published on Tech... →

OpenAI, the startup behind the widely used conversational AI model ChatGPT, has closed its new funding round of over $10.3 billion, TechCrunch has learned. VC firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global are in the round, according to documents seen by TechCrunch. A source tells us Founders Fund is also […] OpenAI closes its monster $10B funding round at $27B-29B valuation by Jagmeet Singh originally published on TechCrunch... →

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package. Daily Crunch: First Republic Bank stock reaches record low as feds discuss rescue plan by Christine Hall originally published on TechCrunch... →

States have taxed motorists at the pump for more than a century. Yet, as electric cars gain ground, what happens when folks stop refueling altogether? State lawmakers are increasingly imposing annual fees on EV owners, arguing they should pay up because they still rely on public infrastructure to get around. Texas is on track to […] EV owners in Texas face $200 annual fee by Harri Weber originally published on TechCrunch... →

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The prospect of contacting a satellite to send a text or contact emergency services may soon be an effortless reality as startups move from proof of concept to actual product. Canadians on the Rogers network, which just inked a deal with Lynk, will get direct satellite-phone connections across the country; and not to be outdone, […] Satellite-to-phone race heats up with voice calls and cross-Canada access by Devin Coldewey originally published on TechCrunch... →

A refrain I hear from a lot of startups is that there’s “no need to rethink the gripper.” It’s something I appreciate from an economic standpoint. It’s expensive, resource intensive and both your time and money are probably best spent elsewhere when there are already so many effectors on the market. I also recently made […] A claw machine does not a robotic gripper make by Brian Heater originally published on TechCrunch... →

Here is a recap of what happened in the search forums today...... →

Amazon is building a more “generalized and capable” large language model (LLM) to power Alexa, said Amazon CEO Andy Jassy during the company’s first-quarter earnings call yesterday. An LLM, like ChatGPT, is a deep learning algorithm that can recognize, summarize and generate text and other content based on knowledge from enormous amounts of text data. […] Amazon is developing an improved LLM to power Alexa by Aisha Malik originally published on TechCrunch... →

Petitioners seek to compel Meta to stop viral hate on Facebook, ramp up content review, and to create a $1.6 billion compensation fund. Kenyan court paves way for lawsuit alleging Facebook played role in fuelling Ethiopia’s Tigray conflict by Annie Njanja originally published on TechCrunch... →

A few days after OpenAI announced a set of privacy controls for its generative AI chatbot, ChatGPT, the service has been made available again to users in Italy — resolving (for now) an early regulatory suspension in one of the European Union’s 27 Member States, even as a local probe of its compliance with the […] ChatGPT resumes service in Italy after adding privacy disclosures and controls by Natasha Lomas originally published on TechCrunch... →

Snapchat Rolled out their generative AI chatbot, My AI to their 750 million monthly users so it feels like the right time to pause and ask whether we’re ready for the real thing – and ready or not, whether anybody wants one. This week on the TechCrunch Podcast, we’re talking to TechCrunch reporter Amanda Silberling about […] #NotMyAI and other TC news by Darrell Etherington originally published on TechCrunch... →

The future is very much yet to be written about vertical farming. In many ways, the technology presents hope in the midst of rising food safety concerns, aging populations and potential environmental collapse. It’s also an intensely hard row to hoe, as it were. Early companies in the space are going to be the ones […] Upward and onward by Brian Heater originally published on TechCrunch... →

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Reducing CAC Payback and following the Rule of 40 is proof that a founding team knows how to move directionally. Investors love that. TechCrunch+ roundup: Customer personas, content that resonates, efficiency metrics VCs love by Walter Thompson originally published on TechCrunch... →

Let’s talk venture results, unique issues to the African startup scene, and look ahead to see if we can spy any good news on the horizon. After initially defying the global slowdown, African startups’ first quarter venture results fall by Anna Heim originally published on TechCrunch... →

There is no clear indication yet that that is new de facto policy, or that First Republic customers will enjoy similar protections. Shares of First Republic are off 40% on reports that the government may step in by Alex Wilhelm originally published on TechCrunch... →