Author: News Desk

Telangana-based Skyroot raises $51 million It is the highest-ever funding for an Indian space-tech startup Singapore-based GIC led the round GIC is a long-term investment firm Skyroot can boost its launch vehicle capabilities with the funding It can tap into the global space economy Former ISRO engineers Pawan Kumar Chandana and Naga Bharat Daka founded Skyroot in 2018 Skyroot currently develops its flagship Vikram series of launch vehicles The company aims to reach the international small satellite market

Prices of electric scooters could go up by more than 10 per cent Owing to extra fire-safety norms The government mandated additional safety requirements for lithium-ion batteries To come into effect on October They are applicable to two-wheelers, three-wheelers and cars The new norms are based on the recommendations of an expert committee constituted by the Ministry of Road Transport and Highways

The IIT Bombay has launched ‘e-Yantra Innovation Challenge’ (e-YIC 2022-23) to find solutions for inclusive urban infrastructure. It is an annual competition that trains students via MOOCs. And the prevailing groups who efficiently pitch may be eligible to obtain the seed fund from a prize pool of Rs 1 crore. This year’s themes are Sustainable and Advanced Technologies for Helping Urban Inclusivity and Agriculture. According to IIT Bombay, this year’s theme offers younger minds a platform to find solutions for a better inclusive dwelling for the city populace. It takes into consideration climate alternate and higher provisions for people with…

Edtech giant Byju is on track to raise over $500 million  in about a week at a valuation of around $23 billion.  The company plans to use the funds for U.S. acquisitions.  The company is in talks with Abu Dhabi’s Sovereign Wealth Fund (SWF) and Qatar Investment Authority (QIA) to raise US$400-500 million and US$250-350 million respectively.

The government has announced the Pradhanmantri Bhartiya Janurvarak Pariyojna (PMBJP) scheme. Under this scheme, all fertiliser products should be sold under the single “Bharat” brand from October 2. The union government has instructed all fertiliser manufacturing companies in India to follow this. However, companies have raised concerns. The companies say that it will affect the branding of their brand and rapport with farmers. Under this scheme, the government gives subsidies to fertiliser companies which in turn reach farmers. The new directions by the government instruct those who sell urea DAP(di-ammonium phosphate), NPK (nitrogen phosphorus potassium) or MOP (muriate of potash) to add the prefix “Bharat”. For instance, the products will be called Bharat Urea, Bharat DAP etc… Also, they will have…

LaundryMate factory is set in the small Bengaluru village of Alahari Guddahari. LaundryMate is one of India’s first organized, tech-driven online laundry service companies. The company has the nation’s largest laundry facility, spanning 53,000 square feet (the size of a football field). It offers the customers to log into the company app and watch clothes being washed live using the cameras installed there. The facility has a capacity of cleaning approximately 45,000 garments per day. Abhinay Choudhari, co-founder of online grocery company BigBasket, launched LaundryMate service as his next venture to solve the home laundry problem. His goal is to…

Britain dropped behind India to become the world’s sixth largest economy. The calculation is based in US dollars India extended its lead in the first quarter, according to GDP figures from the International Monetary Fund. By contrast, the Indian economy is forecast to grow more than 7 per cent this year. The former British colony leaped past the UK in the final three months of 2021. To become the fifth-biggest economy.

SpiceJet’s net loss widens to Rs 789 crore. High fuel prices and rupee depreciation have affected SpiceJet. DGCA deregistered two more Boeing 737 planes of SpiceJet. It is due to the non-payment of dues to lessors. SpiceJet has also delayed the payment of salaries to staff. Meanwhile, SpiceJet plans to raise $200 mn. It is to spend for moulding its cargo business into a separate company.

Cyrus Mistry, the Indian-born Irish businessman and the former chairman of the Tata Group, passed away in a road accident on September 4, 2022. The accident occurred in Maharashtra’s Palghar district. He is survived by his wife Rohiqa Chagla and two sons.  A preliminary police investigation found that Cyrus Mistry and Jahangir Pandor were in the back seat of the vehicle and were not wearing seat belts. Police said speeding and error of judgment by the driver were the causes of the accident. Both Mistry and Jahangir died in the accident, but the two front occupants who were wearing seat…

Reliance Retail’s activewear brand, Performax, signed cricketer and top Indian bowler Jasprit Bumrah as its brand ambassador. Reliance aims to expand the presence of Performax through Reliance Retail’s fashion and lifestyle stores and digital platforms, as well as multi-brand stores. Performax, Reliance Retail’s own brand, specializes in athletic apparel and offers a wide range of options across footwear, apparel and accessory categories. The brand is now sold in over 1,000 of his stores in over 330 cities.