ETtech Top 5: Navigating Disinformation and Major Funding News
Following India’s Operation Sindoor, social media platforms are grappling with a surge in fake content and disinformation. Here is a summary of the day’s most significant developments.
1. Social Media Platforms Battling Disinformation
As tensions escalate between India and Pakistan, social media is flooded with false and misleading posts related to Operation Sindoor.
What’s happening: On Wednesday alone, hashtags like #IndiaPakistanWar, #OperationSindoor, and #IndianArmy garnered massive attention, with mentions hitting 215,000, 885,000, and 399,000, respectively, on X (formerly Twitter).
- Social media platforms like Instagram and Facebook have seen numerous misleading videos purporting to show missile strikes attributed to Operation Sindoor.
- Fact-checking organizations are overwhelmed, racing against time to verify these posts and mitigate the spread of disinformation.
A Popular Instance: A viral video falsely claimed to show Pakistan shooting down an Indian fighter jet. The Press Information Bureau clarified that the footage dated back to February 2025, showing an Indian Air Force Mirage 2000 crash during a training mission.
Cybersecurity Measures: Cybersecurity agencies are on high alert at both central and state levels, preparing for an increase in cyber threats. Preliminary data indicates rising activity targeting critical infrastructure, particularly in the oil, gas, power, and telecom sectors of border states and the national capital.
Also Read: The government has issued warnings regarding Pakistan-sponsored social media propaganda.
2. Porter Joins the Unicorn Club
On-demand logistics platform Porter has successfully raised $200 million in a funding round led by Kedaara Capital and Wellington Management, bringing its valuation to between $1.1 billion and $1.2 billion.
Deal Details:
- This round included both primary and secondary transactions, allowing Porter to officially join the unicorn club.
- Early investor Peak XV Partners has completely exited, while Kae Capital and Lightrock have partially divested.
- A significant portion, approximately $140-150 million, originated from secondary sales.
Valuation Surge:
- Porter’s latest valuation is more than double the $500 million it reached in a 2021 round led by Tiger Global.
- The Bengaluru-based company’s operating revenue for FY25 surpassed Rs 4,000 crore, a substantial increase from Rs 2,766 crore in FY24.
3. Paytm Settles Esop Case with SEBI
One 97 Communications, the parent company of Paytm, has settled a case with the Securities and Exchange Board of India (SEBI) regarding stock allocations under its Employee Stock Ownership Plan, involving founder Vijay Shekhar Sharma.
Key Settlement Details:
- Bar on Esops: Sharma will be prohibited from accepting new Esops from any listed company for three years.
- Fines: SEBI imposed a total fine of approximately Rs 2.8 crore on the involved parties, including OCL and Sharma.
Cancellation of ESOPs:
- 21 million Esops granted to Sharma were canceled.
- Over 222,000 ESOPs granted to his brother were also invalidated.
Financial Penalties: Sharma and OCL face fines of Rs 1.1 crore each, while Sharma’s brother will pay Rs 57 lakh.
OCL has confirmed compliance with all SEBI-imposed terms.
4. Prosus Invests $8.6 Billion in India
Dutch technology investment firm Prosus has revealed a total investment of $8.6 billion in India, emphasizing the country’s importance as a growth market.
Recent Activities:
- Prosus-backed Swiggy went public, with the company selling a 5% stake during its IPO for over $500 million.
- The firm also invested $30 million in bike taxi platform Rapido, which is expanding at a remarkable pace.
- Other investments include preparations for IPOs from Bluestone and Urban Company.
Outlook:
- Despite a $500 million write-off with Byju’s, Prosus is committed to supporting early-to-late-stage companies in India.
- Prosus is exploring opportunities in generative AI and investing in startups targeting the growing user base in India.
5. OpenAI Appoints New CEO of Applications
OpenAI has named Fidji Simo, the current CEO of Instacart, as its chief executive of applications.
Role & Responsibilities: Simo, set to join later this year, will report to OpenAI CEO Sam Altman. She will lead the company’s consumer-facing products, including ChatGPT, allowing Altman to focus more on research and compute.
Regional Push: OpenAI is now offering data residency in India, Japan, Singapore, and South Korea, ensuring compliance with local data sovereignty regulations.
Recent Initiatives: This announcement follows the launch of ‘OpenAI for Countries,’ an initiative aimed at assisting governments in developing national AI infrastructure.
Conclusion
As misinformation spreads amidst rising geopolitical tensions and significant investments sweep across various sectors, companies and regulatory bodies are adapting rapidly to navigate the evolving landscape. From Paytm’s settlement with SEBI to Prosus’s investment in India, the news cycle reflects the dynamic interplay of technology and finance.
Frequently Asked Questions
1. What is Operation Sindoor?
Operation Sindoor is an ongoing military initiative that has led to increased tensions between India and Pakistan, influencing social media discourse heavily.
2. How has social media responded to misinformation regarding Operation Sindoor?
Fact-checking organizations are actively working to verify claims and contain the spread of disinformation on platforms like Twitter, Instagram, and Facebook.
3. Who invested in Porter and what is its current valuation?
Porter raised $200 million from private equity firms, bringing its valuation to approximately $1.1–$1.2 billion.
4. What penalties did Paytm face from SEBI?
Paytm’s parent company settled charges with SEBI, facing financial penalties and a three-year ban on accepting new ESOPs for its founder.
5. What significant investment has Prosus made in India?
Prosus has invested a total of $8.6 billion in India, indicating its commitment to the country’s growth potential.
