Index Ventures has raised $2 billion in fresh capital across three funds, the firm announced on Friday.

The 30-year-old firm raised $400 million for its new seed-focused fund and $900 million for its venture fund. Index also added $700 million to a $1.5 billion growth fund raised in 2024, bringing its total available capital to $3.5 billion.

The fresh capital haul comes two years after Index raised $2.3 billion across two funds, including $800 million toward a predecessor venture fund.

While Index has refrained from ballooning its fund sizes unlike several other VCs, the outfit continues to stand out for its strong recent performance.

Earlier this year, Index portfolio company Wiz completed its $32 billion sale to Alphabet. Index first invested in Wiz at the seed stage and became its largest outside shareholder with a 12% stake, a position likely worth $3.8 billion, according to Reuters’ reporting. Index was also an early investor in Figma, which went public last year.

Index’s AI bets include robotics company Physical Intelligence, inference platform Fireworks AI, and Anthropic, an investment made when the AI model maker raised capital at a $183 billion valuation last September.

Google rolled out a new feature on Thursday that allowed users to deploy Nano Banana 2, its AI image generator, to create fabricated images inside its satellite imagery mapping app Google Earth. The whole point of this feature, Google said, was to get creative with geography.

But critics quickly pointed out that the tool could be used to create and spread misinformation. The tool, which was prompt-based and allowed pretty much any image to be superimposed over real maps, seemed like a recipe for a deluge of geospatial slop.

“There’s no way that this new AI image generation feature on Google Earth, one of the most reliable sources of visual evidence for journalists and researchers, could possibly be abused to spread misinformation online,” a BBC journalist posted sarcastically Thursday.

Now, only a day after the feature’s release, Google has scrapped it.

“We’ve seen geospatial professionals using this feature for a range of useful purposes, however we’ve also seen people sharing screenshots of generated imagery that appear to violate our policies,” the company said in a statement.

“We’re rolling back this feature in Google Earth while we work on implementing stronger guardrails,” Google added.

The criticism of Google’s tool is understandable, although it’s worth pointing out that, in the age of AI, most imagery that exists on the web can be easily manipulated. You don’t have to be a Photoshop whiz anymore to create semi-credible disinformation; you just need access to an AI image generator, which Google sells, as do many other AI firms.

For years, India was the world’s largest app download market but one of its toughest places to make money. That is beginning to change as Indian consumers spend more on AI, entertainment, and other premium apps.

India’s mobile app market generated a record $345 million in consumer spending during the second quarter of this year, up 35% from a year earlier, according to a new report by Sensor Tower. The app-market intelligence firm said the gains were increasingly driven by generative AI, streaming, and productivity apps rather than gaming, as Indian consumers became more willing to pay for digital subscriptions.

The record quarter builds on a broader trend of rising app monetization. India’s revenue per download has more than doubled over the past three and a half years, while quarterly app downloads have remained at around 6.3 billion since 2023.

“We would describe India today as a rapidly evolving mobile market with a large user base and growing willingness to pay for digital services,” Eve Chen, an insights analyst at Sensor Tower, told TechCrunch.

Chen attributed the change to the wider adoption of digital payments, including India’s Unified Payments Interface (a system that lets people pay directly from their bank accounts) and digital wallets, which have reduced friction for in-app purchases, alongside growing acceptance of app-based subscriptions and premium digital services.

The trend also stands out globally. India’s app revenue saw its fastest growth in Q2 among major app markets, generating more than $200 million in quarterly consumer spending, per Sensor Tower’s data shared with TechCrunch. In contrast, Mexico grew 30% and Turkey 25%, while U.S. app revenue actually declined 3% over the same period.

“These figures suggest that India is no longer just the world’s largest market by downloads, but is also emerging as one of the fastest-growing markets for app monetization,” Chen told TechCrunch.

India still trails more mature app markets by a wide margin. Revenue per download stands at about $4.60 in the U.S., $3.90 in South Korea, and $6.10 in Japan, compared with a small fraction of that in India. Nonetheless, Chen said the trajectory matters more than the absolute level, with India’s steadily improving monetization suggesting significant room for long-term growth.

Generative AI has emerged as one of the fastest-growing segments, with OpenAI’s ChatGPT and Anthropic’s Claude together accounting for nearly 83% of India’s AI app revenue in Q2, according to Sensor Tower’s data shared with TechCrunch.

Much of India’s app revenue growth is also being driven by non-gaming apps. Non-gaming categories, Sensor Tower said, accounted for 68% of India’s mobile app revenue in the first half of 2026, up from 58% three years earlier.

The latest data also suggests global subscription apps continue to be among the biggest beneficiaries of rising app spending in India, with Google One becoming India’s highest-grossing mobile app during the quarter. Streaming platforms such as Amazon Prime Video, Crunchyroll, Sony LIV, and JioHotstar also saw growing consumer spending. Gaming also bucked the global trend, with revenue rising 3.7% from the previous quarter despite a worldwide decline, per Sensor Tower.

App intelligence firm Appfigures also sees India’s app subscription market continuing to grow, although it says the pace has slowed after an AI-fueled surge over the past two years. Subscription revenue is still rising, but much of the initial excitement around AI has abated, Ariel Michaeli, the company’s founder and CEO, told TechCrunch.

“The numbers are still staggering,” Michaeli added. Appfigures estimates that ChatGPT generates about $60,000 a day in India and attracted around 1.8 million downloads over the past month, although that’s down from roughly $80,000 a day last October.