Tech5: Amazon pilots Q-commerce in Bengaluru, Google reports quantum breakthroug...
Forbes India's daily tech news bulletin with five headlines that caught our attention
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Last Updated: Dec 11, 2024, 11:51 IST3 min
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Amazon testing a quick commerce service in India
Amazon is piloting a quick commerce service in India, aiming to deliver groceries and other items in 15 minutes or less, TechCrunch reports. This move places Amazon as the sixth major player in India’s growing $6 billion quick commerce market, competing with companies like BlinkIt, Swiggy, and Zepto, according to TechCrunch.The service has been initially launched in Bengaluru. Quick commerce is gaining traction in India, with projections showing substantial growth in the coming years. TechCrunch reports that investment firm CLSA projects a six-fold increase between FY24 and FY27, estimating India’s fast-delivery service to become a $27 billion market.
Google says it’s made a significant breakthrough in Quantum Computing
Researchers at Google’s Quantum AI lab have reported what they say is a major breakthrough in quantum computing, in an area called quantum error correction. They have done this in developing a new quantum chip called Willow, they wrote in a paper published by the scientific journal Nature.The researchers write they demonstrated that increasing the number of qubits in the Willow quantum system reduced errors exponentially. Qubits, short for quantum bits, can hold multiple states at the same time, unlike the classical computer’s binary system. In theory, this allows a quantum computer to solve extremely complex and computationally intensive problems very quickly.
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In reality, the laws of physics that apply to the qubits are such that they are extremely sensitive to everything and can often return errors. By scaling up from 3x3 to 7x7 qubit arrays, Google’s team says it achieved a significant reduction in error rates, marking the first time a quantum system has operated “below threshold".
Willow also performed a computation in under five minutes that would take a supercomputer 10 septillion years, according to Google.
Xiaomi unveils YU7 electric SUV to rival similar models from Tesla
Xiaomi has unveiled its YU7 electric SUV, set for commercial release in mid-2025, as it aims to compete with Tesla, Li Auto, and Nio in China"s rapidly growing EV market, according to multiple reports.CEO Lei Jun shared details of the SUV on Weibo, noting that extensive road tests are underway. The YU7 measures nearly 5 metres long, 2 metres wide, and features a dual-motor system with a peak output of 288kW, a top speed of 253 km/h, and a 3-meter wheelbase. It is powered by a lithium-ion battery from Contemporary Amperex Technology.
South China Morning Post reports that Xiaomi, which met its 2023 goal of 100,000 EVs produced, is targeting 130,000 deliveries next year.
LambdaTest raises $38 million in funding from Avataar, Qualcomm
LambdaTest, a cloud-based testing platform provider, has secured $38 million in a funding round led by Avataar Ventures and Qualcomm Ventures, bringing its total funding to $108 million, according to a company press release.The money will help the Noida and San Francisco startup with further product development and business expansion. LambdaTest’s AI products include KaneAI an AI assistant for testing and HyperExecute, an automation testing cloud, according to the company’s website. These tools enhance test automation, speed up processes and reduce manual effort.
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With over 15,000 customers and 2.3 million developers worldwide, LambdaTest’s growth, at 105 percent YoY, reflects the increasing demand for AI-powered testing solutions in a rapidly evolving digital landscape.
GrowX Ventures launches Fund II with Rs. 400 crore target
GrowX Ventures, which has backed startups such as Pixxel, Bellatrix Aerospace, CynLr and Stashn, has launched its Fund-II with a target of raising Rs 400 crore, Economic Times reports.With the new fund, the firm aims to back its portfolio startups for a longer period, covering the series B stage, founder and chief executive Ashish Taneja told ET in an interview. This would allow the VC firm to tap into investment opportunities in startups that have reached a stage where they could have significant growth ahead.
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GrowX had previously mostly focussed on seed-stage ventures. It will now invest in 20-24 startups in both early-stage and early-growth stages, according to ET.
First Published: Dec 11, 2024, 11:51
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