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India Invests $1.1B in VC, Nothing Opens Retail

Alta, the company inspired by the film "Clueless" that allows users to create digital closets and virtually try on clothes, is partnering with brand Public School to integrate styling tools into websites, according to TechCrunch. This announcement comes as the company, founded by Jenny Wang, continues to expand after raising $11 million in a round led by Menlo Ventures.

The funding round last year saw participation from prominent figures, including models Jasmine Tookes and Karlie Kloss, Anthropics VC arm Anthology Fund, and Rent the Runway cofounder Jenny Fleiss, TechCrunch reported. Wang discussed the company's growth during New York Fashion Week. Alta's technology allows users to plan and style outfits using the latest AI innovations, similar to the fashion-planning technology seen in the movie "Clueless."

In other tech news, India is doubling down on its venture capital efforts, approving a $1.1 billion state-backed program, as reported by TechCrunch. This initiative will channel government funds into startups through private investors, focusing on high-risk areas like artificial intelligence and advanced manufacturing. The program, approved by the cabinet this week, follows a January 2025 budget speech by India's finance minister. A previous program, launched in 2016, committed 100 billion to 145 private funds, resulting in over 255 billion invested in more than 1,370 startups, according to official data released on Saturday.

Meanwhile, hardware company Nothing, backed by Tiger Global, opened its first retail store in India, its largest market, TechCrunch reported. Located in Bengaluru, the two-story store will showcase Nothing's products and other projects. Customers can purchase hardware and merchandise and have select items customized. "We wanted to create a fun space," said Carl Pei, Nothing's co-founder and CEO. The store's design is inspired by elements related to the brand, including a production line and machines used for testing.

However, a security lapse at DavaIndia Pharmacy, a large Indian pharmacy chain, exposed customer data and internal systems, TechCrunch exclusively learned. The issue allowed outsiders to gain full administrative control of the platform, potentially compromising customer order data and sensitive drug-control functions. Security researcher Eaton Zveare discovered the flaw and reported it to Indian cybersecurity authorities. The bug has since been fixed.

Finally, Georgia Tech announced the finalists in its annual Guthman Musical Instrument Competition, The Verge reported. The competition invites inventors to submit new instrument designs for a chance to win $10,000 in prizes. Early standouts include a henge made of fiddles and a chaotic evil triangle. The competition has been running for 28 years.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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