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19/07/2023

Online youth fashion brand Styched on Monday announced that it has acquired Flatheads, a direct-to-customer online casual sneaker startup, which was featured in Shark Tank India season 2. The startup did not secure any funding from investors on the reality show.

18/07/2023

US startup Fisker said on Monday it would produce 100 limited edition electric sports utility vehicles (SUVs) for the Indian market and expects to begin deliveries in the fourth quarter this year.

The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years.But it now expects to complete the final checks for the SUV, named Fisker Ocean Extreme Vigyan, for India by the end of September, with its pricing aligning with the European market.

Fisker Ocean Extreme is priced at 69,950 euros ($78,588.83), excluding taxes, in Germany. That would equate to around Rs 64.5 lakh. A Fisker Ocean SUV starts at $37,499 in the United States.

Electric vehicles (EVs) make up just 1% of the 3 million cars sold each year in India, with the government wanting to increase this share to 30% by 2030. For this, the country has introduced several incentives, including tax breaks for consumers.In India and across all regions outside China, the US and Europe, EV sales are expected to represent 2%-3% of car sales in 2023, a relatively small yet growing share, according to data from International Energy Agency.

15/07/2023

This is because RIL has fixed July 20 as the record date for the demerger of Reliance Strategic Investments, which will be renamed Jio Financial Services. Ever since this announcement, shares of the oil-to-telecom major have clocked sharp gains and scaled a fresh 52-week high of Rs 2,802. On Friday, the stock ended marginally down 0.1% at Rs 2,740.70.

14/07/2023

The state government will hold a 30% stake in the centres, while Tata Technologies will have a 70% stake, following a public-private partnership (PPP) model.
The proposed centres, requiring an investment of Rs 2,000 crore, were presented to Karnataka's Large and Medium Industries Minister, M B Patil, by representatives of Tata Technologies at a meeting held in Vidhana Soudha.

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13/07/2023

Wipro said that Wipro ai360 will help unleash a new era of value, productivity, and commercial opportunities through the application of AI and generative AI.

Indian technology company Wipro today announced the launch of Wipro ai360 with the aim of integrating AI into every platform, every tool, and every solution used internally and offered to clients.

The company also said it will be investing $1 billion in advancing AI capabilities over the next three years.

12/07/2023

Online gaming, horse racing, and casinos will be taxed on full face value at the rate of 28%: FM Nirmala Sitharaman

GST will now be applicable to gross revenue or total prize pool with no distinction between games of skill and games of chance

The online gaming industry reacted strongly to the move, saying it would “destroy a significant portion of the successful companies” in India’s startup ecosystem

11/07/2023

Bengaluru-based artificial intelligence (AI) start-up Minus Zero has unveiled what it claims is India’s first autonomous vehicle. Based on a camera-sensor suite, the fully-electric prototype called zPod can drive in all environmental and geographical constraints, and can scale up to Level 5 autonomy capabilities, the company said. Level 5 autonomy refers to the highest level of autonomous driving, where a vehicle is fully capable of operating without human intervention in all driving conditions and environments.

Founded by Gagandeep Reehal and Gursimran Kalra in 2021, Minus Zero has raised a $1.7 million in seed fund from a bunch of investors including Chiratae Ventures, Snow Leopard Ventures, IIT Mandi and other angel investors from autonomous vehicles industry.

09/07/2023

The Economic Offences Unit (EOU) of Bihar police recently approached Ministry of Electronics and Information Technology (MeitY) urging it to ban more than 100 such apps, Nayyar Hasnain Khan, Additional Director General (ADG) of EOU (Bihar police) said.

"The decision was taken after confirming that these apps attract Section 69 of the Information Technology (IT) Act as they contain materials which is prejudicial to the sovereignty and integrity of India. Several complaints had been received of extortion and harassment from people who had borrowed very small amounts through such loan lending apps," Khan said.

1Section 69A of the IT Act empowers the government to restrict access to any online content to protect the interest of sovereignty and integrity of the nation, security of the state, friendly relations with foreign states and public order.

08/07/2023

According to the Annual World Air Quality report released by IQAir, a Swiss air quality technology company, India ranks eighth in the list of countries with the worst air quality index in 2023. The report placed 12 Indian cities in the list of 15 most-polluted cities in Central and South East Asia. And, that’s not all. According to a Lancet Study in 2022, nearly 1.6 million deaths in 2019 were due to air pollution alone.

Hubballi-based startup CarbonCraft is doing its bit towards carbon-negative homes by starting with a ubiquitous material in the industry–tiles. Understanding the need for architectural intervention, Tejas Sidnal started CarbonCraft Designs in 2016. The company started manufacturing tiles made from upcycled carbon, the first-of-its-kind in the world, in 2020, three months before the pandemic hit India.

07/07/2023

Threads, the Twitter rival launched by Meta, has been gaining an astonishing number of users, with an impressive 10 million signups within a mere seven hours, as revealed by Mark Zuckerberg, co-founder and CEO of Meta. However, this highly-anticipated new service, which requires an Instagram account for onboarding, comes with an intriguing condition: If users wish to delete their Threads account, they must also delete their linked Instagram account.

According to Meta’s “Supplemental Privacy Policy,” users can deactivate their Threads profile anytime. However, the Threads profile can only be deleted by deleting the associated Instagram account.

06/07/2023

Five Class 10 students from Gurugram have innovated Zephyrus, an eco-friendly, 2-in-1 cooling device that tackles the challenges of a conventional cooler and can save water.

Last summer, five students from Gurugram’s Shiv Nadar school sat down to identify and address real-world problems as part of their school curriculum in Class 10.

For this, V Sahil Seshadri (15), Lakshya Goswami (16), Uday Singh (16), Sourish Grover (16), and Armaan Sharma (15) decided to zero in on the severe heatwaves generated by climate change and its effects.

India has been battling unprecedented heatwaves that have massively affected its population’s health and resulted in loss of working hours, productivity, and economic well-being — especially farmers and daily wage labourers, who are forced to work in the open spaces. Only 4.9 percent of households in the country enjoy the comforts of air conditioners, and 14.1 percent of households possess air coolers.

The students thus zeroed in on a simple, yet brilliant solution: an eco-friendly, portable, and cost-effective device named Zephyrus, which dually functions as a cooler and a heater.

05/07/2023

Reliance Jio has announced the launch of Jio Bharat Phone, an offering aimed at empowering feature phone users with relatively affordable internet-enabled phones. The phone comes at an entry price of Rs 999, the Jio Bharat Phone aims to tap into the existing 250 million feature phone users in India to access internet-enabled services.

24/04/2023

Both banks will be investing up to INR 69.90 Cr each in the insurtech unicorn’s life insurance arm, Go Digit Life, in two tranches
The investment is subject to Go Digit receiving a life insurance licence from IRDAI
Once Go Digit receives the licence, Axis and HDFC will complete the investment of the first tranche within three to six months
Source:- inc42

23/04/2023

Federation of Indian Export Organisations (FIEO) said they are targeting to take the shipments to USD 500 billion-510 billion during the current financial year.
Source:- economictimes

23/04/2023

The Union Labour Ministry reportedly held talks with Ola, Uber, Zomato, Swiggy and Urban Company to provide benefits such as life insurance and health covers to gig workers
Talks between the government and the aggregators are still underway and the matter is yet to be resolved
The Centre has been looking to notify four labour codes, which provide multiple social security benefits to gig workers, for many years now
Source:- inc42.com

22/04/2023

The platform which started in 2007 as an add-on grocery service for prime members, launched as a segregated store for grocery items in 2021

Amazon Fresh follows the model of slotted grocery deliveries and has claimed to have doubled down despite stiff competition

The online grocery market of India is estimated to expand at a CAGR of 37.1% by 2028
Source:- inc42.com

22/04/2023

Google, has launched the Startup School India (SSI), a platform in which Google will bring together investors, successful entrepreneurs and programmers from the smaller cities. Google aims to reach out to a bare minimum of 10,000 startups with this program.
Source:- entrepreneur.com

15/04/2023

Apple now produces almost 7% of its iPhones in India as against a mere 1% in 2021
Of the iPhones produced in India last fiscal year, $5 Bn worth of smartphones were exported: Report
India has emerged as a key market for the company; Apple to open its retail stores in Delhi and Mumbai next week
Source:- inc42

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