Good morning. Earlybird here with your daily news stream on business, tech, and startups — all in the palm of your hand. So if you’re lying down, stay safe and don’t drop your phone.

In this edition:

• 📦️ UPS’s $20M tech center investment in India

• 🚗 Ola and Uber have some new competition

• ✂️ More Meta layoffs, the sequel no one asked for

MARKETS

*Stock data as of market close. Source.

Markets: Two Indian stocks in the Nifty50 index, Adani Ports and Hindalco, have received only "buy" ratings from analysts, signaling that investors are seeing bright days ahead for these companies and are eager to clean up their portfolios with fresh picks.

SHIPMENTS

UPS is looking to build Indian tech centers with $20M investment

📦️ UPS, the multinational package delivery and supply chain management company, announced plans to open its first-ever technology centers in India, with a whopping $20 million investment.

The centers will focus on developing and deploying digital solutions that can enhance UPS's operations and customer experience in the country.

India: A growing market for UPS

India is a vital market for UPS, with its e-commerce sector growing exponentially. The country has become the world's second-largest online market, and its e-commerce sector is projected to reach $200 billion by 2026.

UPS has been increasing its investments in India over the years, with the tech center marking the latest milestone in the company's commitment to the country.

TRANSPORTATION

The new Russian cab-hailing player in India

🚗 inDrive, a Russian ride-hailing company, is gearing up to break the duopoly of Ola and Uber in India with its unique technology and AI capabilities. The company aims to capitalize on its algorithm that can predict ride demand and supply to effectively manage its fleet of drivers.

🖖 What sets inDrive apart. inDrive claims that its algorithm can accurately forecast ride demand and supply, allowing it to efficiently allocate its drivers. The algorithm takes into account various factors such as traffic, weather, and events, among others, to provide an optimal ride experience to customers.

🗺️ inDrive's roadmap for India. inDrive plans to enter the Indian market by launching operations in Delhi, followed by other major cities such as Mumbai, Bengaluru, and Chennai. The company has already initiated talks with the Delhi government and is confident that its technology can help address the city's traffic and pollution problems.

🏅 Competing with giants. The ride-hailing market in India is highly competitive, with Ola and Uber being the dominant players. In addition to these giants, inDrive will also face competition from other players such as Rapido.

EDTECH

Australian Edtech firm Moodle is coming to India and upping headcount by 25%

📖 Moodle, an Australian-based edtech company, has announced the opening of its India branch as part of its global expansion plans. The company, which offers a popular learning management system (LMS) used by schools and universities worldwide, aims to increase its headcount in India by 25% in the next year.

🎈 Expansion plans. Moodle has been expanding its global presence in recent years, with its software used by over 250 million users in more than 200 countries. The company has now set its sights on the rapidly growing edtech market in India and plans to leverage its expertise to offer customized solutions for Indian educators and learners.

🪴 Growth. India's edtech market is expected to grow at a compound annual growth rate of 39% to reach $10.4 billion by 2025. Moodle's entry into the market is expected to further intensify competition among edtech companies in the country.

👔 More jobs. Moodle's entry into India is expected to create job opportunities for skilled professionals in the edtech sector. The company plans to increase its headcount in India by 25% in the next year, with a focus on hiring software developers, instructional designers, and customer support executives.

INDIA EDITION: WHAT ELSE IS ON THE BIRDWATCH

• 💸 UPI up 50% in daily transactions. Daily UPI transactions in India has surged by 50%, as people continue to prefer the convenience and safety of digital payments during the pandemic.

• 💄 Reliance will make you feel pretty again, with an app. Reliance Retail is gearing up to launch its new beauty app TIRA, which promises to offer personalized skincare and beauty recommendations, with an offline store also on the horizon.

• 🤝 Oppo and Andhra Pradesh team up to support deep tech. Oppo India has joined forces with Andhra Pradesh Innovation Society to support deep tech startups in the state, in a show of commitment to the future of Indian tech.

FUNDING DEALS

Catch up on the Indian funding flows from the past 24hrs:

• GrowFin, a local SaaS startup, has grown its funding by $7.5M in a Series A round led by SWC Global. The hefty injection will be used for further expansion and branching out into new markets.

• The Moms Co., an Indian baby and mother care brand, is getting some serious love from its investor Good Glamm Group, as the latter raises its beyond-baby-steps stake to 90%.

• Pidge, a logistics SaaS startup, has raised $3M in funding to scale its product offering and deliver packages with agility, speed, and grace.

WORLD

Headline Explorer

🤖 Microsoft’s new productivity bot. Microsoft has introduced a new AI-powered software called Dynamics 365 Copilot, an intelligent assistant designed to help businesses navigate their operations with more ease and efficiency.

🦁 Singapore’s paying more for tech talent. A recent report found that tech salaries in Singapore soared in 2022, propping the city-state as a top destination for tech talent in the region.

✂️ More Meta layoffs. Facebook and Instagram umbrella corp Meta is reportedly planning to cut thousands of more jobs in the coming months, as the social media giant faces increasing regulatory scrutiny and growing competition from rivals.

🔀 China is shaking up its ministry of sci-tech. China is ramping up efforts to achieve self-reliance in technology by restructuring its Ministry of Science and Technology, in a move aimed at boosting innovation and reducing the country's dependence on foreign technology.

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