Mindtree, LTI reportedly in advanced merger talks; EU close to mandating USB-C; Lightspeed elevates three execs to Partner

Mindtree and LTI, Mumbai-listed IT services companies that are part of the Larsen & Toubro group, are in advanced merger talks, according to Bloomberg and Economic Times. A merger plan may be announced as early as next week, Bloomberg reported on April 18. The companies have already been teaming up on larger contracts, Economic Times reported yesterday, citing Mindtree CEO Debashis Chatterjee. A merger would narrow the gap between the combined entity and Tech Mahindra, India’s fifth-biggest IT services company, by revenue. By market value, the combined entity would surpass Tech Mahindra, at current share prices. Meanwhile, Makers Lab, the research and development arm of Tech Mahindra, has set up a Quantum Center of Excellence, called QNxt, in Helsinki, the company said in a press release. The centre will accelerate the adoption and commercialisation of quantum technologies globally. The European Union is a step closer to mandating USB Type-C chargers across electronic devices, which will be a blow to Apple, which continues to require its proprietary lightning charger for its iPhones and iPads. On Wednesday, the EU’s Internal Market and Consumer Protection Committee adopted its position on the revised Radio Equipment Directive with 43 votes in favour and two against, according to a press release from the European Parliament. The EU wants to have a strategy by the end of 2026 that allows for minimum interoperability of any new charging solutions. Brave Software has released a new feature on the Brave browser, called Discussions, which will surface results from forums like Reddit, the company said in a blogpost yesterday. To find discussions, just search for what you want using Brave Search. Ashwin Damera, Founder and CEO of Eruditus and Emeritus has invested Rs. 240 crore ($32 Million) in venture debt finance company, InnoVen Capital India Fund. The investment was made through Ashwin’s family office which is co-managed by Ashwin and his wife Bhagyashree Damera. Loop, a Pune-based healthcare and insurance startup has raised $25 million in a Series B round co-led by General Catalyst and Elevation Capital, the company said in a press release. Lightspeed has elevated three executives to the role of partner, on its early-stage investment advisory team, the VC firm said in a blog post on April 19. The three are Shuvi Shrivastava, who joined the firm as an associate in 2015, Pinn Lawjindakul, and Rahul Taneja, who both joined in 2020. Shuvi was responsible for Lightspeed’s investments in startups such as Darwinbox, Uni, Pixxel, Rattle, Bhanzu, and xFlow. Pinn helped expand Lightspeed’s operations in southeast Asia and Rahul Taneja was chief business officer before being named partner, according to the post. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds