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Why the jobs market is cautiously optimistic; EV startups hit the road in 2024

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Hello,

Bhavish Aggarwal has donned his Santa hat this Christmas.

AI startup Krutrim is offering a one-time credit worth Rs 10,000 to be used across a period of 12 months on Krutrim’s cloud platform to all faculty members and students of IITs.

Speaking of AI, meet the new AI artist in town—Botto, a “decentralized autonomous artist”. 

Botto has produced around 150 images, or “works”, which together have fetched over $5 million via auctions since 2021. Here’s how it works.

Meanwhile, in the face of intense competition from Tesla and Chinese EV makers like BYD, Japanese automobile giants Honda and Nissan are in talks to join hands by 2026.

If finalised, the combined entity would become the world’s third-largest automaker in global sales, trailing behind Toyota and Volkswagen. 

ICYMI: Netizens are raging over the popcorn tax. This entrepreneur explains why it’s a bad idea.

Lastly, before the year ends, The Guardian brings us a glimpse into the uncontacted Amazon community—Massaco—flourishing deep in the rainforest despite environmental threats. 

In today’s newsletter, we will talk about 

  • “Cautious optimism” in jobs market
  • EV startups hit the road in 2024
  • Indian crypto investors bet long-term

Here’s your trivia for today: Which periodic table element is named after Paris?


Review 2024

“Cautious optimism” in jobs market

The hiring landscape in 2024 witnessed a delicate balance between caution and optimism. After the tumultuous cycles of the past few years—defined by over-hiring, mass layoffs, and economic headwinds—this year saw the job market stabilise with a renewed focus on strategic hiring.

“Cautious optimism” is a befitting term to describe the overall mood in hiring in 2024, says Naveen Tiwari, Co-founder of recruitment firm Scrabble. Despite the economic challenges, the overall hiring activity improved this year, he adds

Learnings from 2024:

  • Hiring for freshers and entry-level roles surged in 2024, driven by strong demand for skills in AI, cloud computing, and data analytics, led by global capability centres (GCCs) and IT services firms. 
  • “The 2024 layoff wave was driven by global economic uncertainties, over-hiring during the post-pandemic boom, automation, and startup funding challenges,” notes Krishna Vij, Business Head, TeamLease Digital, adding that geopolitical tensions further disrupted hiring across industries.
  • Experts expect hiring activity to be stronger in the coming year on the back of improved funding. “As we enter 2025, India’s job market looks set to broaden its horizons, with a projected 9% growth in hiring,” says Anupama Bhimrajka, Vice President – Marketing, foundit.
Hiring year-ender 2024

Design: Nihar Apte


Funding Alert

Startup: EPACK Prefab

Amount: $20M

Round: Equity

Startup: Univest

Amount: $10M

Round: Series A

Startup: Mindgrove Technologies

Amount: $8M

Round: Series A


Review 2024

EV startups hit the road in 2024

In 2024, EVs entered the mainstream. According to the national vehicle registry Vahan, 1.8 million EVs were sold this year till November. 

However, the year has also been a test drive for many EV companies, with the government rolling back subsidies that had made these vehicles a cost-efficient alternative to ICE (internal combustion engine) vehicles. 

Zooming:

  • In August, Bhavish Aggarwal-led Ola Electric was listed on the public bourses. At the time of listing, one of the sticky points was profitability. Next year, its competitor, Ather Energy, will also head to the public markets.
  • High costs of manufacturing vehicles, thin profit margins, and establishing a charging infrastructure have been key sticking points in EV adoption. Additionally, EV chargers don’t follow a uniform standard, which comes with its own set of problems.
  • “The integration of smart charging technologies, including vehicle-to-grid capabilities and energy management systems, is evolving how EV owners interact with the grid. It’s no longer just about more charging points; it’s about making them efficient, accessible, and even powered by renewable energy,” says Akshay Shekhar, CEO and Co-founder of Kazam.
EV yearender

Cryptocurrency

Indian crypto investors bet long-term

More Indian investors are cashing in on cryptocurrencies as a CoinDCX report revealed that 51.5% of investors’ portfolios now consist of Bitcoin and altcoins (cryptocurrencies other than Bitcoin), indicating a shift towards long-term investment strategies.

Gold rush:

  • According to the report, altcoins lead with a 34.5% allocation, driven by rising interest in projects like decentralised finance, Layer 2 solutions and decentralised applications.
  • The company also saw a 159.65% increase in trading volume, reflecting the rising number of crypto traders in the country amid market momentum. It also reported a 366.67% surge in its assets under management.
  • CoinDCX said women from cities like Delhi, Lucknow and Hyderabad now represent 20% of its high-net-worth-individual customers. Among their preferred tokens are Bitcoin, Ethereum, MATIC, and meme coin DOGE.
cryptocurrencies

How much time have you spent on crypto pricing websites to check the prices of Bitcoin or other cryptocurrencies?


News & updates

  • Obituary: Indian cinema bid its final adieu to filmmaker Shyam Benegal—a pioneering figure in the Indian parallel cinema movement—as he passed away at the age of 90 in Mumbai.  
  • Profits: Founder Pavel Durov said Telegram is now profitable, and the chat app’s total revenue surpassed $1 billion in 2024. The company now has 12 million paid users, and the app is finishing the year with more than $500 million in cash reserves, without counting its crypto assets.
  • Probe: The US government launched a new probe into legacy Chinese semiconductors that may go into everything from cars to household goods and defence systems. The investigation will look into China’s “acts, policies, and practices on the production of silicon carbide substrates or other wafers used as inputs into semiconductor fabrication.”

Which periodic table element is named after Paris?

Answer: Lutetium. It is named after Lutetia, the Latin word for Paris, France.


We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected]

If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here





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GoMechanic eyes over 3-fold biz growth to Rs 700 Cr by 2027 before launching IPO

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Car services and repair platform GoMechanic expects over three-fold rise in net revenue to Rs 700 crore by 2027 and thereafter go for public listing, a top official of the company said.

GoMechanic Co-Founder and CEO Himanshu Arora told PTI that the company at present has around 3% market share and aims to raise it to 10% in the next three years.

The company is also looking to diversify offerings, foraying into the two-wheeler and electric vehicle services segment.

“We sit at about 3% of the market share right now and to be servicing every 1 car out of ten would be around 10 % by 2027. By 2027, we expect our brand to generate approximately Rs 700 crore in revenue. We believe that an IPO is a natural next step for GoMechanic’s growth story,” Arora said.

The company at present provides services through 800 garages across 125 cities and plans to scale up to 2,500 garages across 500 cities by 2027.

GoMechanic was acquired by Servizzy, a subsidiary of the Lifelong Group, in March 2023 after anomalies in its financial records were found under previous management and the firm was put on sale by the investors.

“It has been only about 20 months since we acquired the brand… the trajectory clearly indicates that an IPO is on our roadmap,” Arora said.

GoMechanic posted a revenue of Rs 210 crore in the financial year 2023-24 and a revenue of Rs 85 crore in the April-June 2024 quarter.

“Our spares and accessories are also growing fast. We should be clocking about Rs 432 crore this financial year in gross merchandise value and roughly around Rs 200 crore in the net revenue,” Arora said.

“When we acquired the brand, the customer retention rate was 33% and at present it is 53%. We are operating on a franchisee model where we connect with garages and deploy our own personnel for quality control. Our target is to reach 65-66% retention rate by 2026,” GoMechanic Co-Founder and Chief Operating Officer Muskaan Kakkar said.

She said that GoMechanic has 8 lakh active users per month, which is now gradually getting close to 10 lakh.

“We are EBIDTA positive (operational profit). For me, maintaining PAT (profit after tax) positivity in our main operations is essential for our financial stability. At the same time, strategic investments in areas like two-wheelers are necessary for our growth. While these investments may affect our PAT in the short term, they are crucial for long-term success.

We will definitely be PAT-positive by 2027,” Kakkar said.

She said that GoMechanic at present has around 550 people on payroll and beyond this entire franchise network comprises about 4,000 individuals working on the ground.

“Currently, we are in the process of hiring the head of our two-wheeler business. We are looking for someone who has experience in building businesses from the ground up, not necessarily limited to the automobile sector. Our goal is to bring in individuals who have successfully launched and scaled businesses, ensuring they grow with us and contribute significantly to our expansion,” Kakkar said.





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How to optimise your tech resume for your next job in 2025

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As technology evolves at an unprecedented pace, professionals across industries must stay updated with the latest trends and innovations. The rapid adoption of new technologies means that your resume should not only reflect your past achievements but also demonstrate your proficiency in the skills and tools that are defining the future. In 2025, tech skills will continue to play a pivotal role in shaping career trajectories, making it essential to incorporate relevant trends into your resume to ensure you stand out.

Whether you’re an established tech expert or just beginning your journey in the tech world, it’s crucial to present yourself as adaptable, forward-thinking, and in tune with the current technological landscape.

This article delves into practical steps to help you enhance your resume with the most relevant tech skills, ensuring that it appeals to potential employers and reflects the skills that are shaping the future of work.

Emphasise your most relevant technical expertise

The first step in updating your resume is to ensure that you are highlighting the technical skills that matter most in 2025. With so many new technologies emerging, it’s easy to get overwhelmed, but focusing on the most sought-after skills can help you stay ahead of the curve.

Focus on emerging technologies

Make sure to include skills related to artificial intelligence (AI), machine learning, blockchain, cybersecurity, cloud computing, and data analytics. These are the areas in which employers are investing heavily and looking for expertise.

Be specific

Rather than simply listing general skills, dive into specific tools and platforms you have experience with. For example, if you’re proficient in machine learning, mention specific frameworks like TensorFlow, PyTorch, or Keras. For blockchain, name the platforms such as Ethereum or Hyperledger. Specificity demonstrates depth of knowledge.

Soft skills are also critical

In addition to technical expertise, soft skills like problem-solving, critical thinking, and adaptability are increasingly important. Highlighting your ability to collaborate with cross-functional teams, manage projects, and communicate complex technical information will make you more appealing to potential employers.

Showcase real-world projects and achievements

Your resume should do more than just list your skills. It should demonstrate how you’ve applied them in real-world scenarios. Showcasing key projects, whether they were part of previous jobs, personal initiatives, or freelance work, helps give context to your skills.

Choose impactful projects

Highlight projects where you’ve made a significant impact. For instance, if you developed an AI-based recommendation system or built a secure blockchain application, make sure those are front and center. The more relevant the project is to the current trends, the better.

Provide outcomes

Employers are always interested in the results of your work. Don’t just describe the project – explain how it benefited the company or client. Use quantifiable metrics when possible (e.g., “Reduced processing time by 30% using machine learning algorithms” or “Improved website security by implementing blockchain-based encryption”).

Create an online portfolio

If you haven’t already, creating an online portfolio or GitHub repository is essential. This can house your code, designs, and detailed case studies of the projects you’ve worked on. Including links to your portfolio in your resume shows that you’re not just talking about your skills but also showcasing them.

Adopt a modern, tech-optimised resume layout

A tech-friendly resume format can help ensure that your resume is not only eye-catching but also optimised for both human recruiters and applicant tracking systems (ATS). In the tech world, having a clean, structured, and well-organised resume is just as important as having the right skills.

Prioritise readability

Use clear headings, bullet points, and ample white space to make your resume easy to read. Avoid cramming too much information into small sections. Make sure that the most important information (e.g., your technical skills and key projects) stands out.

Optimize for ATS

Many tech companies use applicant tracking systems to filter resumes before they ever reach a human. To ensure your resume passes through these systems, include industry-specific keywords and phrases related to the technologies you work with. This way, your resume has a better chance of getting noticed by both software and people.

Customise your resume for every job opportunity

One of the most crucial aspects of a resume in 2025 is customisation. With the diversity of tech roles available, a generic resume just won’t cut it. To ensure that you’re putting your best foot forward, tailor your resume to the specific role you’re applying for.

Understand the job requirements

Before submitting your resume, carefully read the job description. Identify the key skills and experiences the employer is looking for, and adjust your resume accordingly. For example, if the job requires expertise in cloud computing, make sure your experience with AWS, Azure, or Google Cloud is clearly highlighted.

Showcase the right skills

Every tech role requires different skills. For a software development position, emphasise your coding proficiency and familiarity with specific programming languages. For a cybersecurity role, focus on your experience with encryption, penetration testing, or threat analysis.

Use the right language

If the job description uses specific terminology or buzzwords, incorporate them into your resume (without overdoing it). This will help you connect with the recruiter’s needs and make your resume feel like a perfect match for the position.

Highlight your ongoing learning and flexibility

In the fast-evolving tech world, showcasing your ability to continuously learn and adapt is essential. Employers value candidates who are proactive about staying current with the latest trends and technologies. Demonstrating your commitment to professional development can set you apart from others in the competitive job market.

List certifications and courses

If you’ve recently completed relevant certifications or courses (e.g., AWS Certified Solutions Architect, Google Cloud Professional Data Engineer, or courses on platforms like Coursera or Udemy), make sure to include them. These show that you are actively pursuing growth and staying up to date with the latest technologies.

Highlight personal projects

Personal projects can be a great way to demonstrate your commitment to learning. If you’ve built a website, contributed to open-source software, or worked on side projects related to new technologies, these are valuable additions to your resume.

Show how you adapt

If you’ve worked in environments where you had to quickly learn new tools or adapt to shifting priorities, mention these experiences. Employers are keen to know how you deal with change and whether you can thrive in fast-paced, ever-changing environments.

Conclusion

In 2025, tech resumes need to reflect not just your current skills but also your ability to stay relevant in a rapidly changing field. By highlighting relevant technical skills, showcasing key projects, using a tech-friendly format, tailoring your resume for each job, and demonstrating your commitment to continuous learning, you can position yourself as a forward-thinking candidate ready to embrace the future. Make sure to update your resume regularly, reflecting both the latest trends and your personal growth, so you remain competitive in the evolving tech landscape.





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Proxgy adds Ajinkya Rahane as investor in Series A round

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Deeptech startup Proxgy said on Wednesday that Indian cricketer Ajinkya Rahane has participated in its ongoing $3 million series A funding round.

The round also witnessed participation from Nikhil Kamath, Bollywood superstar Suniel Shetty, industrialist Vinod Duggar and key investor Manish Patel.

“This funding will enable us to expand globally and bring innovative solutions like SmartHat, Sleefe, and Lockator to industries that need them the most,” noted Pulkit Ahuja, Founder and CEO of Proxgy.

The current funding round will support scaling operations, expanding Proxgy’s product portfolio, and enhancing its global presence.

Gurugram-based Proxgy reported an impressive multifold revenue growth in FY24, with Rs 50 crore in order book.

“Having represented India on the global cricketing stage, I know the importance of discipline, innovation, and precision. Proxgy reflects these values, and their ground breaking products have the potential to redefine safety and productivity in industrial environments,” noted Rahane on the investment.

The B2B and B2G startup makes smart helmets and has patents for developing products for industries such as mining, oil and refinery, defence, surveillance, road safety, etc.

Earlier this year, South African cricketer AB De Villiers joined Bengaluru-based health food brand Supply6, as a brand ambassador and investor.

In August, Australian entrepreneurs Deke Smith and Mark Sellar introduced their venture, ‘DRIVE FITT,’ in India, adding Bollywood actress Preity G Zinta and Indian cricketer Shubman Gill as co-founders and part of the founding shareholders at DRIVE FITT along with significant equity in the company. 





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