Tracxn Technologies Ltd. Share Price

Databricks announces strategic investment of Rs. 2,133 crore (US$ 250 million) in India over three years

Databricks, a leading data and artificial intelligence (AI) company, announced on April 24, 2025, a strategic investment of over Rs. 2,133 crore (US$ 250 million) in India over the next three years. This investment will focus on accelerating innovation in data and AI, with a significant emphasis on training, research and development (R&D), and go-to-market activities. In addition, the company, valued at Rs. 5,29,170 crore (US$ 62 billion) according to Tracxn, plans to increase its headcount in India by over 50%, aiming to employ 750 people by the end of this financial year (FY26). Databricks is also expanding its presence with the recent launch of a new R&D office in Bengaluru, reinforcing its commitment to the country’s growing technological ecosystem. India is a critical growth market for Databricks, with major organisations like CommerceIQ, Freshworks, HDFC Bank, Swiggy, TVS Motors, and Zepto already leveraging the company’s Data Intelligence Platform for business transformation. The new Bengaluru R&D centre, part of Databricks’ global research network, will play a pivotal role in the company's mission. Senior Vice-President of Engineering, Mr. Vinod Marur, highlighted the rapid growth of the Bengaluru team, which has already expanded to over 100 engineers. The company plans to hire an additional 100 R&D engineers this year. Furthermore, Databricks has launched the India Data + AI Academy to train 5,00,000 professionals over the next three years, equipping them with advanced data and AI skills. This initiative is designed to strengthen India’s position as a global leader in AI, with participants earning Databricks certifications upon completion.

India ranks third in global fintech funding despite 33% drop in 2024: Report

India secured the third position globally in fintech funding despite a 33% decline in YoY funding, which dropped to Rs. 16,475 crore (US$ 1.9 billion) in 2024, according to Tracxn's Annual India Fintech Report. This reduction in funding reflects a broader slowdown in demand and ongoing geopolitical challenges. The fintech sector had raised Rs. 24,279 crore (US$ 2.8 billion) in 2023 and Rs. 48,558 crore (US$ 5.6 billion) in 2022, underlining a significant decline over the past two years. Despite this, India remains one of the top three globally funded fintech ecosystems, only trailing the US and the UK. Noteworthy developments include two new unicorns, Money View and Perfios, compared to just one in 2023. The fintech sector saw a late-year recovery, with Q3 raising the highest funding of Rs. 6,980.16 crore (US$ 805 million), a 61% increase from the previous year. Digital lending dominated the funding, comprising 64% of the total raised. However, late-stage funding saw a sharp 42% decline, dropping to Rs. 9,538 crore (US$ 1.1 billion) from Rs. 16,475 crore (US$ 1.9 billion) in 2023. Early-stage and seed-stage funding also experienced downturns. Despite these challenges, the sector showcased resilience, with eight IPOs in 2024, a 300% increase from 2023. Bengaluru remained the leading hub for fintech funding, followed by Mumbai and Delhi. The sector's robust performance, particularly in the H2 FY24, positions it for continued growth in the future.

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