Funding & Business
Phot.AI: Phot.AI bags $2.7 million in seed funding
MUMBAI: Phot.AI, an AI-driven creative automation platform, has raised $2.7 million in seed funding led by Info Edge Ventures. The investment was also backed by Together Fund, AC Ventures, and a clutch of more than 50 angel investors, the company said in a statement on Thursday.
The funds will be used to expand the team, invest in R&D and support new launches.
Founded in 2023 by Venus Dhuria, Aneesh Rayancha, and Akshit Raja, Phot.AI automates creative design and marketplace listings for ecommerce, brands and retail. Its AI agents are trained to learn which designs work best for different product categories and marketplaces. This automation, the startup claims, reduces manual effort and costs by up to 80%, accelerating brands’ go-to-market strategies.
“Our AI-powered platform removes the need for design skills or rigid templates, allowing businesses to generate customised content for different platforms and audiences effortlessly,” said co-founder Dhuria.
Funding & Business
Has UK Business Optimism Faded?
A year on from the Labour Party’s election win, UK businesses are unhappy about tax increases, persistent red tape and a lack of dialogue with the government. Prime Minister Keir Starmer’s government is struggling to balance the needs of businesses with those of unions and its traditional left-wing base, and its policies have been criticized for being unfriendly to business and hindering economic growth. Bloomberg’s Jennifer Creery breaks down the situation.
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Funding & Business
Portugal Finance Minister on Trade, Tariffs, TAP
Portuguese Finance Minister Joaquim Miranda Sarmento discusses trade negotiations between the European Union and the US ahead of the July 9 deadline. “Tariffs will reduce economic growth both on the US and Europe,” he tells Bloomberg’s Francine Lacqua. “We do expect that at the end it’s possible to have an agreement with very low tariffs,” he adds. Sarmento also talks about airline TAP SA and foreign investment in Portugal.
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Funding & Business
Barclays Bets on Middle East and Elevates Two Co-CEOs for Region
Barclays Plc elevated a pair of senior leaders to oversee its growing business in the Middle East in a move that shows the region’s growing clout both on the global financial stage and within the bank.
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