Lenskart has posted a sharp jump in its March-quarter revenue even as profit dipped marginally. This and more in today’s ETtech Top 5.Also in the letter:■ Tech layoffs balloon ■ Inside Google I/O 2026■ Peak XV joins Primer’s fundingLenskart’s Q4 revenue jumps 46% on volume expansion Peyush Bansal, CEO, LenskartEyewear retailer Lenskart logged a strong March quarter, powered by higher volumes and new customers across India and overseas, even as profits edged lower.March quarter snapshot:Revenue: Rs 2,515 crore versus Rs 1,725 crore a year ago.Profit after tax: Rs 203.6 crore, down from Rs 220 crore a year earlier.Eyewear units sold: 7.9 million, up 24.3%Total expenses: Rs 2,308 crore, up 35%For FY26:Operating revenue: Rs 8,988 crore, up 32% from FY25Profit: Rs 500 crore, up 68%Double-click: Net profit looked weaker on a quarterly basis because last year’s March quarter included a one-time Rs 167 crore goodwill gain. Stripping that out, underlying profitability has strengthened.The company added more customers, with quarterly transacting customers up 28% YoY to 4.3 million in Q4. In India, the average selling price climbed nearly 16% as shoppers traded up to premium products, the company said.Ola Electric’s Q4 loss narrows 42.5% to Rs 500 crore Ola Electric CEO Bhavish AggarwalElectric two-wheeler maker Ola Electric narrowed its March-quarter loss on the back of lower costs, but topline pressure remains intense.March quarter (Q4 FY26):Net loss: Rs 500 crore vs Rs 870 crore a year earlierRevenue from operations: Rs 265 crore from Rs 611 crore a year earlier (down 56.6%)Full year FY26:Consolidated net loss: Rs 1,833 crore vs Rs 2,276 crore in FY25.Revenue from operations: Fell sharply to Rs 2,253 crore from Rs 4,514 crore a year ago.Next steps: The Bhavish Aggarwal-led firm said it is battling weaker-than-expected sales growth and operating losses. Ola Electric plans to raise fresh equity capital via a qualified institutional placement (QIP) to bolster liquidity, fund capex, and support working capital.Also Read:SaaS company Amagi swings into the black in first results since listing, logs Q4 net profit of Rs 34.3 croreSacked H-1B staff asked to do more B-2 paperwork Laid-off H-1B employees in the US are increasingly running into red tape as they try to move to short-term B-2 visas, with immigration authorities demanding more documentation, experts told ET.Tightening the rules: The B-2 category is meant for tourism, leisure travel or medical treatment, and switching from H-1B to B-2 is legal. But officials are growing wary of prolonged stays, triggering a spike in requests for evidence (REFs).Tell me more: Immigration lawyers say B-2 applications from laid-off H-1B workers have exploded—one attorney pegged volumes at about 10x normal levels.Tech majors, including Amazon, Oracle, and Meta, have cut thousands of roles in recent months. A large chunk of those affected are believed to be Indian professionals on H-1B visas, who get a 60-day grace period to secure new employment.Plan B for workers: Beyond B-2, many are exploring F-1 student visas, O-1 visas for people with extraordinary ability, L-1 transfers, or relocation to Canada via Express Entry or the Global Talent Stream.Meta begins 8,000 global job cuts in Asian hub of Singapore Meta Platforms has begun notifying thousands of employees of fresh layoffs, starting with its Asian hub in Singapore, Bloomberg reported. Business Insider earlier flagged that cuts were expected on May 20 (today).What’s happening:Notifications started on Wednesday morning globallyStaff in Singapore were informed around 4 am local timeEurope and US employees are expected to hear during their morning hoursEngineering and product teams are bearing the bruntMore waves of layoffs may follow later this year, the report said.Why the layoffs: CEO Mark Zuckerberg is doubling down on AI and diverting resources to compete more aggressively with Google and OpenAI. Meta has already gone through multiple rounds of layoffs in recent years as part of a broader cost-cutting and efficiency drive.LinkedIn layoffs: Over 600 employees to lose jobs as company restructures operations Professional networking giant LinkedIn is also trimming staff, with 606 employees set to lose their jobs, according to a New York Post report citing a Worker Adjustment and Retraining Notification (WARN) filing.Layoff details:352, (including 66 remote workers) in Mountain View, California108 in San Francisco59 in Sunnyvale21 in CarpinteriaThe layoffs will take effect on July 13. Reports suggest this may not be the last round. Reuters had flagged plans to reduce LinkedIn’s workforce by around 5%.Google I/O 2026: It’s AI everywhere, from Gemini upgrades to smart glasses The Google I/O 2026 conference was all about AI. The company showcased how its Gemini models are being woven into Search, apps, and hardware.Major announcements:Gemini 3.5: A faster, cheaper AI model now powering Gemini and several Google services by default; Gemini 3.5 Pro is slated to launch next month.AI-first Search: Google Search is being rebuilt around conversational queries, serving richer answers that blend links, images and videos.Gemini Spark: A background AI orchestrator that sits across devices and apps – managing tasks, talking to services like Gmail and Uber, and even handling bookings with explicit user approval.Shopping and payments: Gemini can now track prices, suggest products and complete purchases via Google’s payment system, though user confirmation remains mandatory.Google also unveiled:Voice AI features in Gmail, Docs, and YouTube.Gemini Omni for media creation.Flow for creative workflows.Android XR smart glasses, built with Samsung and other partners.Also Read: Speed, cost, accessibility key in next phase of AI race, says Sundar PichaiCharted: Reliance’s startup roll-up: hits & misses Reliance and its subsidiaries have bought or backed internet-first brands between 2018 and 2026 across furniture, pharmacy, edtech, innerwear, AI, quick commerce, drones, retail technology, and consumer products. Here's a closer look.Peak XV joins UK infrastructure startup Primer’s $100 million funding round Prime leadershipPeak XV Partners has joined a $100 million funding round in London-headquartered global payments infrastructure startup Primer, marking another major overseas bet for the venture capital firm.Deal details:Round led by Belgium-based Sofina.Participation from Peak XV Partners and existing backers Balderton, Accel, ICONIQ, Tencent, and Speedinvest.The round was oversubscribed.Primer said it will deploy the fresh capital to accelerate investments in AI for payments and finance teams.Bigger picture: Indian venture firms, led by Peak XV, are actively chasing AI and SaaS deals in the US. Earlier this month, Peak XV opened its first US office in San Francisco’s Bay Area and appointed former Fractal executive Shelly Singh as an operating partner as it doubles down on American AI bets.PE firm Oister Global launches Rs 500 crore ACE Fund III Oister Global founder Rohit BhayanaIn a separate development, investment firm Oister Global has rolled out ACE Fund III, a Rs 500-crore, secondaries-focused vehicle.Details: As IPO timelines stretch, demand for secondary transactions in late-stage startups is rising. Oister Global plans to use the fund to back high-growth, late-stage companies with strong unit economics and clear paths to liquidity, cofounder Rohit Bhayana told ET.