Author: News Desk

CoinSwitch started Web3 Discovery Fund It is a $10 million venture capital fund. It would support early-stage startups and build blockchain solutions. Through this, CoinSwitch intends to realize the vision of #MadeinIndia. Web3 Entrepreneurs will get access to investors like Tiger Global, Ribbit Capital, Coinbase Ventures. CoinSwitch is an Indian crypto company Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari started it in 2017.

Honda Power Pack Energy India Private (HEID) and Hindustan Petroleum Corporation (HPCL) started electric battery swap services at HPCL petrol stations. HEID will operate the battery swap services that will enable auto rickshaw drivers to stop at the nearest battery stations being set up. And swap discharged batteries with fully charged ones. It will significantly reduce drivers’ initial cost of purchasing an electric vehicle. HEID intends to create the largest battery swap network with more than 70 stations in Bengaluru. HEID and HPCL had signed a memorandum of understanding (MoU) and a commercial agreement. To collaborate for working in the…

US-based startup Autonomy set to order 23,000 EVs from 17 automakers. The purchase will be for an amount of $1.2 billion Tesla, GM, Volkswagen, and Ford are on the list. The order represents 1.2% of the projected US EV production. It’s unknown by when the fleet could be collected. Some deliveries won’t begin until early 2023. Autonomy offers EV subscription services to drivers. It now has 1,000 Tesla cars.

The Indian government is planning on restricting Chinese companies from the budget smartphone segment. To prevent them from selling devices under ₹12,000 in the country. Smartphones under ₹12,000 contributed to a third of India’s sales volume. for the quarter through June 2022 With Chinese companies accounting for up to 80% of those shipments. The move shouldn’t affect Apple Inc. or Samsung Electronics Co., which price their phones higher. Homegrown companies such as Lava and MicroMax comprised just under half of India’s smartphone sales.

SoftBank’s Masayoshi Son warns of a prolonged startup winter for unlisted companies. It is because some unicorn leaders won’t accept lower valuations in fresh funding. Across the globe, startups are facing a funding crunch. It’s because investors are cautious about the market conditions. SoftBank’s Vision Funds have supported over 470 startups in six years. However, it is now very selective in investment opportunities. In the quarter that ended in June, SoftBank invested $600 million. A year ago, during the same period, it was $20.6 billion. The company has also cut down the size of its check. Now, it takes only…

In India’s culinary space, MDH Masala is an unforgettable name. The image of a smiling bespectacled Dadaji with his iconic red turban and white sherwani on the packet is quite familiar to all. MDH, an abbreviation of Mahashian Di Hatti was launched in 1919 by Mahashay Chunni Lal Gulati in undivided India’s Sialkot region. Mahashay Dharampal Gulati, the man we see on the cover of MDH now, was born in 1923 to Mahashay Chunnilal and Mata Chanan Devi.  He was not interested in studies and hence dropped out of school in Class V. He joined his father in his business of selling mirrors and then soaps. For a brief period, they had opened a spice shop under the…

A new smart program has been developed to follow up and speed cases in Abu Dhabi criminal courts. The programme is a form of Artificial Intelligence (AI). It aims to increase the accomplishment rate and speed of adjudication of criminal cases. They are working on updating the programme to include electronic judgements. That is crimes that end either by conciliation or waiver and crimes that have passed the statute of limitations. The Abu Dhabi Judicial Department had in 2019 reported that judges started using AI systems to decide when – and for how long – criminals should be jailed.

Ratan Tata is known for connecting with aspiring entrepreneurs and guiding them. You might have heard many such stories about him. Here is another one. This time, he helped Pune-based energy distribution startup ‘Repos’. He not only guided the startup but also invested in it two times! When Aditi Bhosale Walunj, co-founder of Repos, shared the story on LinkedIn, it won many hearts. Aditi Bhosale Walunj and co-founder Chetan Walunj understood the need for a mentor after starting their company. The only name that came to their mind was Ratan Tata. To meet him, they created a 3D presentation of…

The Twitter acquisition row takes a new turn. Elon Musk has challenged Twitter CEO Parag Agarwal. Musk challenged Agarwal for a public debate on Twitter’s bot data. He was responding to a tweet thread by cybersecurity researcher Andrea Stroppa. The thread summarised Musk’s countersuit against Twitter. Musk says a minimum of 20% of Twitter’s daily active users are fake or spam.

UAE’s first used battery recycling centre to open in Ras Al Khaimah Royal Gulf Industries to invest Dh62.4 million in it. The modern lead acid battery recycling unit will be installed at Al Ghail Industrial Zone. The eco-friendly unit will provide jobs to more than 150 people. The facility will be ready by the fourth quarter of 2022. It aims to recycle up to 35,000 metric tonnes of used lead acid batteries annually. Thus, it will produce 21,500 tonnes of lead ingots and 2,400 metric tonnes of plastic granules. Ingots and plastic granules will be exported to India, Japan, Korea,…