Tech5: Paytm sells PayPay stake to SoftBank, Uber to offer robotaxi rides in Abu Dhabi, and more

The divestment, part of Paytm’s effort to shed non-core assets, boosts its cash reserves to $1.46 billion. PayPay, a leading Japanese payments app, is controlled by SoftBank and Z Holdings. This marks the end of Paytm’s ties with SoftBank, which had been an early investor through its Vision Fund. Paytm's stock has surged since June, following a regulatory green light to expand its UPI service, TechCrunch notes.

Uber teams up with WeRide to offer robotaxi rides in Abu Dhabi

Uber has partnered Chinese autonomous vehicle developer WeRide to launch robotaxi services in Abu Dhabi, starting with driver-assisted rides, CNBC reports. Initially, a human driver will accompany each autonomous vehicle to ensure safety.

The service will operate between Saadiyat Island, Yas Island, and Zayed International Airport, with plans for fully driverless rides by 2025. WeRide, listed on Nasdaq, holds permits for autonomous vehicle testing in multiple countries, including the UAE and the US. Uber CEO Dara Khosrowshahi highlighted the company’s growing network of autonomous vehicle partnerships, according to CNBC.

Despite this expansion, analysts note potential risks from competition, including Uber's rivalry with Alphabet's Waymo in the US, though Uber remains optimistic about the future of autonomous transport, according to the report.

Apple to launch its own cellular modem chips in 2025

Apple is set to launch its own cellular modem chips next year, replacing Qualcomm’s components in iPhones, Reuters reports, citing a Bloomberg report that’s behind a paywall.

The move is part of Apple’s strategy to eventually surpass Qualcomm’s technology by 2027. Qualcomm, which supplies modem chips for mobile data connections, has a contract with Apple until 2026, according to Reuters. However, Apple has been developing its modem technology since acquiring Intel’s modem unit in 2019.

The new chips will debut in the iPhone SE, with more advanced models to follow. This shift could impact Qualcomm’s revenue, especially as Apple diversifies its chip supply chain, including a multi-billion-dollar deal with Broadcom for 5G components. Apple’s transition may also affect other suppliers like Skyworks and Qorvo, according to the report.

Ultraviolette raises 130 crore in funding from Zoho, others

Ultraviolette Automotive, a performace electric motorcycle maker in Bengaluru, has secured Rs130 crore in fresh funding, from investors including Zoho Corp and Lingotto Co-Invest Fund I, YourStory reports. The money will help the maker of the F77 motorcycle step up its expansion plans.

Founders Narayan Subramaniam and Niraj Rajmohan started the company in 2016. Its investors include TVS Motor Company and Qualcomm Ventures. Earlier this year they released the next iteration of the F77, called F77 Mach 2. With it, they announced three levels of traction control, and 10 levels of regenerative braking, a function that’s important to extracting more range from electric vehicles.

The bike offers 40.2 horsepower, 100NM of torque, top speed of 155 kmph and a maximum of 323 km per charge. Ultraviolette has also started exports to Europe. At home the entrepreneurs expect to expand their presence to 30 cities by mid 2025.