Author: News Desk

Spacetech startup Bellatrix Aerospace raised $8 million in a round led by Inflexor Venture and BASF Venture Capital GmbH The company plans to use this funding to expand its commercialization efforts by the end of 2022 with the launch of space taxis Space taxis would be a business-to-business offering It will allow the company to launch multiple micro-satellites into space on behalf of its clients using one Orbital Transfer Vehicle The initial version of the Space Taxi, called the Pushpak, can carry satellites up to 600 kg The company also tested a green propulsion system last month

The Gujarat government has cleared a proposal to allow Tata Motors to take over Ford India’s Sanand plant The government’s clearance is the first step It will make it easier for the two companies to negotiate and finalize a definitive agreement A formal agreement will be signed in the presence of Gujarat Chief Minister Bhupendra Patel Currently, Tata Motors, across three plants has a capacity of 480,000 units per annum When they take over Sanand’s facility of Ford, they will get an additional capacity of 240,000 units per annum

Tesla Inc Chief Executive Elon Musk has asked employees to return to the office or leave the company Musk wrote that “anyone who wishes to do remote work must be in the office for a minimum (and I mean minimum) of 40 hours per week or depart Tesla.” The office must be a main Tesla office, not a remote branch office Musk didn’t directly address whether the email was authentic

Maruti Suzuki India (MSI) wants the government to reconsider the proposal to make six airbags mandatory in passenger vehicles The auto major noted that the regulation would largely impact the cost-sensitive entry-level car segment The prices will further go up leading to further shrinking of the domestic small car industry It will make it even more difficult for two-wheeler users to upgrade to small cars As per the government, the airbags will ensure the safety of passengers across all segments, irrespective of the cost/variant of the vehicle

The iconic Ambassador car by Hindustan Motors is backThe new car will be electric!Hindustan Motors will collaborate with a European EV makerReports say the companies have signed a dealThe collaboration will be on a 51:49 ratioThe controlling stake will be with Hindustan MotorsThe duo will manufacture two-wheelers firstThen, they will slowly advance to four-wheelersThe manufacturing of the electric Ambassador will be from Hindustan Motors’ Chennai plantAmbassador dominated the car market in the 1970sIts popularity fell with the advent of the much-cheaper Maruti 800

Recent reports say that the world’s highest-valued edtech startup BYJU’S is planning to divert focus on global businesses as the Indian market is shrinking. The focus will be mainly on the US market. The shift in focus is due to the shrinking Indian online edtech market as schools, colleges and tuition centres are reopening. Although BYJU’S is yet to confirm it officially, sources close to the platform report that Byju Raveendran is all set to hand over India operations to Chief Operating Officer Mrinal Mohit. Raveendran is currently meeting investors in the US and the UAE. In March, BYJU’S announced…

The past five months saw the net worth of billionaires Elon Musk, Jeff Bezos, and Bill Gates falling by $115 billion. The figures were released by Bloomberg’s Billionaires Index, which tracks the world’s 500 richest people. According to Bloomberg’s data, Musk’s net worth has fallen by $46.4 billion whereas Bezos’ has come down by $53.2 billion. Gates has lost $15.1 billion. Bernard Arnault, the world’s third-richest person ahead of Gates, has suffered a $44.7 billion decline. Most of Musk’s wealth is linked to Tesla. He has a 15.6% stake in Tesla worth about $122 billion. This year, the electric car…

Innovation, technology, design, entrepreneurship, creativity, digital art, music… The youngsters were thrilled to be in Kochi last week. The Kerala Innovation Week provided a new perspective to the Malayali youngsters. This has become the biggest design-maker-technology fest by the Kerala Startup Mission. The Innovation week, held at Technology Innovation Zone, Kalamassery, began with a cycle rally on May 20. The fest had a ‘makathon’, ‘buildathon’, free robotics workshop, creators’ summit, design-3D maker products, art workshop and the facility to visit the fab lab. The panel discussion ‘Why Hack’ organised in association with Ernst & Young to discuss the need to…

India is ranked among the top five countries in terms of total cybercrime victims It is according to a new report by the United States’ Federal Bureau of Investigation (FBI) The report comes from the FBI’s Internet Crime Complaint Center It showed that even though India is among the top five, the US and UK, have significantly more victims of cybercrime around the world The United States and the United Kingdom recorded the highest cybercrime victims in the year at 466,501 and 303,949, respectively The United Kingdom was followed by Canada with 5,788 total victims Australia ranked behind India with…

A report based on data from the Reserve Bank of India shows that Ambani and Adani together borrowed more than $1 out of every $5 from foreign lenders Mukesh Ambani and Gautam Adani, India’s richest men, have a combined net worth of over $200 billion Their companies together command a market capitalisation of nearly ₹33 lakh crore (approx. $429 billion) In total, Indian companies borrowed $38.2 billion from foreign lenders in 2021-22 Of this, Mukesh Ambani’s Reliance Industries, and the Gautam Adani-led companies borrowed $8.25 billion