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India's election overshadowed by the rise of online misinformation | TechCrunch


As India kicks off the world’s biggest election, which starts on April 19 and runs through June 1, the electoral landscape is overshadowed by misinformation.

The country — which has more than 830 million internet users and is home to the largest user base for social media platforms like Facebook and Instagram — is already at the highest risk of misinformation and disinformation, according to the World Economic Forum. AI has complicated the situation further, including deepfakes created with generative AI.

Misinformation is not just a problem for election fairness — it can have deadly effects, including violence on the ground and increase hatred for minorities.

Pratik Sinha, the co-founder of the Indian non-profit fact-checking website Alt News, says there’s been an increase in the deliberate creation of misinformation to polarize society. “Ever since social media has been thriving, there is a new trend where you use misinformation to target communities,” he said.

The country’s vast diversity in language and culture also make it particularly hard for fact-checkers to review and filter out misleading content.

“India is unusual in its size and its history of democracy,” Angie Drobnic Holan, the director of International Fact-Checking Network, told TechCrunch in an interview. “When you have got a lot of misinformation, you have a lot of need for fact-checking, and things that make the Indian environment more complex also are the many languages of India.”

The government has taken steps against the problem, but some critics argue that enforcement is weak, and the Big Tech platforms aren’t helping enough.

In 2022, the Indian government updated its IT intermediary rules to require social media companies to remove misleading content from their platforms within 72 hours of being reported. However, the results are unclear, and some digital advocacy groups, including the Internet Freedom Foundation, have noticed selective enforcement.

“You don’t want to have laws or rules that are so vague, that are so broad that they can be interpreted,” said Prateek Waghre, executive director of the Internet Freedom Foundation.

Google and Meta have made announcements about limiting misleading content on their platforms during Indian elections, and restricted their AI bots from answering election queries, but have announced no significant product-related changes or stringent actions against fake news. Moreover, just before the Indian election, Meta reportedly cut funding to news organizations for fact-checking on WhatsApp.

Now fake news is proliferating on social media. Doctored videos of celebrities asking citizens to vote for a particular political party and fake news about the Model Code of Conduct applied to public programs and private chats were well spread online before the election began.

Hamsini Hariharan, a subject matter expert at the U.K.-based fact-checking startup Logically, told TechCrunch about the trend of “cheapfakes” — content generated with less sophisticated measures of altering images, videos, and audio — being widely shared across social media platforms in India.

Last week, 11 civil society organizations in India, including the nonprofit digital rights groups Internet Freedom Foundation and Software Freedom Law Center (SFLC.in), urged the Indian election commission to hold political candidates and social media platforms accountable for any misuse.

Hariharan underlined that the scale and sophistication of misinformation and disinformation have drastically increased over the last five years since India’s last general election in 2019. The key reasons, she believes, are the increase in internet penetration — it’s grown from 14% in 2014 to around 50% now, according to World Bank data — and the availability of technologies to manipulate audiovisual messages, low media literacy, and the mainstream media losing some of its credibility.

Logically noticed a particular spike in attempts to cast doubt about electronic voting machines. Its fact-checkers saw older claims, particularly videos and text from Supreme Court hearings about voting machines, being circulated without sufficient context. There were even some posts about these machines being banned, faulty or tempered with, along with hashtags such as #BanEVM circulated among Facebook groups with thousands of followers.

Sinha of Alt News agreed that misleading online content has rapidly risen in the country. He noted that social media companies are not helping to limit such content on their platforms.

“Is there a single report that’s been published in four years as to how their fact-checking enterprise is doing? No, nothing, because they know it is not working. If it was working, they would have gone to town with it, but they know it’s not working,” he told TechCrunch.

Holan believes there is much room for product changes that emphasize accuracy and reliability.

“The platforms invested heavily during COVID in trust and safety programs. And since then, there’s clearly been a pullback,” she said.

Meta and X did not answer why there have been no significant product-related updates to restrict misleading content and the amount of investments made for fact-checking in India. However, a Meta spokesperson noted the existence of a WhatsApp tip line, which was launched in late March, and an awareness campaign on Instagram to identify and stop misinformation using the platform’s built-in features.

“We have a multi-pronged approach to tackling misinformation that includes building an industry-leading network of fact-checkers in the country, including training them on tackling AI-generated misinformation,” the Meta spokesperson said in an emailed statement.

X did not answer a detailed questionnaire sent to the generic press email ID but said, “Busy now, please check back later.”




Software Development in Sri Lanka

Robotic Automations

Jio Financial, BlackRock to tap India's wealth management market | TechCrunch


Jio Financial Services, part of the Indian conglomerate Reliance, is forming a joint venture with U.S. asset manager BlackRock to set up a wealth management and broking business in India, the two firms said Monday.

The announcement follows BlackRock and Jio Financial launching a joint venture last year to offer asset management services in India. The two companies plan to invest $150 million each in the joint venture, they said last year. That joint venture is awaiting the Indian market regulator’s approval.

The expansion of BlackRock and Jio Financial’s partnership underscores Reliance’s growing ambitions in the financial services sector. The $237 billion Indian firm already leads the nation’s refinery, retail and telecom sectors. (India’s central bank doesn’t permit tycoons to receive the banking license.)

Jio Financial Services said in a report last year that it was taking a direct-to-customer approach, using alternate data models for personalized offerings and a unified app for diverse customer financial needs, to cut costs and tailor interactions.

Since its public debut in August, Jio Financial Services has already expanded to insurance and lending businesses.


Software Development in Sri Lanka

Robotic Automations

India's Zepto zooms to $1.2B in annualized sales in 29 months, Goldman says | TechCrunch


Indian quick-commerce startup Zepto has surpassed the annualised sales milestone of $1 billion within 29 months of its inception, Goldman Sachs wrote in a note Thursday, citing Zepto management.

Zepto, which competes with Zomato-owned Blinkit and SoftBank-backed Swiggy Instamart, is also gaining market share, now standing “close to that of the number 2 player,” the report added. Zepto, which became a unicorn last year, counts YC Continuity, StepStone Group, Glade Brook Capital and Contrary among its backers.

BlinkIt, acquired by Zomato for $568 million in 2022, commands the tentpole position in the instant-commerce market. Zomato co-founder Deepinder Goyal said at a recent conference that he believes BlinkIt will become larger than its food delivery owner in a year.

Zepto, founded by two college dropout teens, operates in seven Indian cities and uses a network of over 300 dark stores, or microfulfillment centers, to offer customers delivery of items from a range of categories including grocery and electronics. The startup, which promises to deliver items to customers within 10 minutes of placing an order, currently processes approximately 550,000 orders daily, its management told the investment bank.

And the startup is quickly improving its finances, too. “Overall EBITDA margin for Zepto is at negative single-digit percentage and the company is on track to break even at the EBITDA level within the next quarter. The company expects steady state contribution margin of 12%, with steady state EBITDA margin of 7%,” the report added. “Per Zepto, newly opened dark stores are turning profitable in 9 months now (vs 15-18 months earlier), at a throughput per store of 1,500 orders per day.”

Instant-commerce companies are making inroads in India, not only competing with traditional supermarkets and neighborhood stores but also increasingly posing challenge to e-commerce giants such as Flipkart and Amazon.

India’s quick-commerce sector, something that didn’t exist just three years ago, has surged past the $5 billion mark, capturing over half of the online grocery market and achieving a scale on par with that of prominent Indian supermarket chain Dmart, the investment bank said.

“Zepto believes quick-commerce platforms are well positioned versus other formats of organised grocery in the offline and online domains because of a proximity advantage to customers while maintaining the price, assortment, and quality benefits of organised grocery,” the report added.


Software Development in Sri Lanka

Robotic Automations

India's Exponent Energy brings 15-minute charging to passenger three-wheelers | TechCrunch


India is getting an electric three-wheeler passenger vehicle that charges from 0 to 100% in 15 minutes. The launch of the new EV — a collaboration between auto manufacturer Omega Seiki Mobility and battery-tech startup Exponent Energy — comes amid India’s ambition to electrify 80% of all its three-wheelers by 2030 in an effort to reduce emissions.

The new three-wheeler, called the Stream City Qik and priced at $3,900 (324,999 Indian rupees), launched Friday and will go on sale from May 15 in Delhi and Bengaluru. It’s a take on the previous Omega Stream City and carries an 8.8kWh proprietary battery pack to deliver over 86 miles (126 kilometers) of range. It is equipped with Exponent Energy’s charging tech, which the startup claims fully charges a battery in 15 minutes when connected at the startup’s charging station (dubbed e^pump).

Currently, Exponent Energy has 60 charging stations in six cities: Delhi-NCR, Bengaluru, Chennai, Ahmedabad, Kolkata and Hyderabad. It plans to have 100 charging stations in Delhi-NCR and Bengaluru in 2024 and 1,000 stations in total by 2025, all of which will be available to drivers of the Stream City Qik, according to the company.

The partnership signifies an expansion for Exponent Energy into the new territory, as the Bengaluru-based startup previously only offered its rapid charging tech for three-wheelers to cargo and fleet operations. India’s passenger three-wheeler segment is over 4x the number of cargo three-wheelers, per government data. The segment grew by more than 43%, with over 45,000 three-wheeler passenger vehicles sold in January alone.

Three-wheeler vehicles are popular with gig workers in India who use them to transport ride-hail passengers and deliver packages. The Indian government has been incentivizing companies to spur electric three-wheeler manufacturing and has subsidized their sales to attract customers.

The partnership between Exponent Energy and Omega Seiki builds on the former’s previous partnerships. In 2022, Exponent worked with Reliance Industries-backed Altigreen and Indian conglomerate Murugappa Group-owned Montra Electric to launch cargo three-wheelers equipped with its fast charging tech. The startup also partnered with Magenta Mobility, funded by Morgan Stanley and BP Ventures, and Fyn Mobility to offer rapid charging on their fleet. Over 1,000 vehicles, completing over 100,000 charging sessions, presently have Exponent Energy’s tech, which the startup aims to grow to 25,000 by 2025.

“We started with cargo to prove out the tech,” Arun Vinayak, co-founder and CEO of Exponent Energy, told TechCrunch in an interview. “As we scaled, we realized that individual drivers really love rapid charging because these guys can’t charge their vehicles at home. And they are far more hungry to do more kilometers… they need to keep running, keep going wherever the demand is and go wherever the passenger needs to go.”

Exponent Energy and Omega Seiki Mobility ran close controller pilots for the last couple of months to test consumer behavior. They found three-wheelers carrying up to three passengers sometimes run for up to 22 hours a day, with two drivers using them sequentially to milk intra-city demand. This makes it crucial for the passenger three-wheelers to access fast charging. The other alternative to rapid charging in this case could be battery swapping, but that does not work at scale, according to Vinayak.

“Unless you rapidly charge a swap battery, you run out of batteries. And because these are swappable batteries, you are limited in the size of batteries and have a fairly limited range,” he said.

The tech behind the three-wheeler upgrade

Exponent Energy’s battery tech involves lithium-ion batteries along with its in-house battery management system, which monitors every cell in real time when on charging. Additionally, the startup has its own charging stations that use an off-board thermal management system, which transfers refrigerated water through the charging plug. This helps maintain the temperature of every battery cell while charging and makes 0-100% charging possible in 15 minutes along with a 3,000-cycle life warranty.

Vinayak told TechCrunch that Exponent Energy’s charging stations offer 10x efficiency by charging 20 to 30 vehicles daily, whereas other EV charging stations typically charge two vehicles. Similarly, setting up an Exponent charging station costs nearly $6,000 (500,000 Indian rupees), while a CNG station demands hundreds and thousands of dollars. This has restricted the availability of CNG to around 60 stations in Bengaluru, while Exponent Energy already has 40 charging stations in the city, the executive said.

Image Credits: Omega Seiki Mobility

“If you give people very rapid refueling capability, very rapid recharging capability, a reliable and dense enough network, people actually stop caring about range,” he stated.

The Stream City Qik will be initially available in Delhi and Bengaluru, with plans to enter new cities later this year. Omega Seiki Mobility is also optimistic about taking its rapid-charging three-wheeler to markets beyond India once it gains enough traction.

“I can open up markets all across the globe. We have testing going on all across Southeast Asia, Bangladesh, Africa,” Uday Narang, founder and chairman of Omega Seiki Mobility, told TechCrunch.

New Delhi-based Omega Seiki Mobility has an annual capacity of producing 20,000 vehicles, with three factories in North India and one in the eastern state of Jharkhand. Exponent Energy, on the other hand, has a monthly capacity of building 500 charging units, which it plans to increase to 3,000 by July-August.

At $3,900 (324,999 Indian rupees), the Stream City Qik is competitively priced with other electric and gas-powered three-wheelers on the market in India. Vinayak and Narang said they are not looking to beat the competition on the pricing but want to help eradicate the charging anxiety among three-wheeler drivers and increase their monthly income by up to 30%.

Founded in 2020, Exponent Energy, which counts Eight Roads Ventures, Lightspeed Venture Partners and TDK Ventures among its key investors, has raised $44.4 million so far. The startup generated an annual recurring revenue of $6 million in 2023 and aims to reach about $72 million by 2025. It is also looking to deploy its charging tech on electric buses in India later this year.


Software Development in Sri Lanka

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