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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102215) | |
22461. [Funding alert] Health supplement startup Power Gummies raises undisclosed amount from Agility, DSG, Vcats
- Delhi-based dietary supplement brand Power Gummies on Wednesday raised an undisclosed amount in a bridge round led by Agility Venture Partners. The startup has raised three rounds of funding this year, marking a total of approximately $1 million including this round.
- The fresh funds will be used for future product research, team building and marketing purposes of their newly launched ‘The Beach Body’ gummies, which help with effective weight management in a sugar-free and tasty way.
- Power Gummies claims that its supplements are 100 percent vegetarian and are available across the globe through their website as well as on all major ecommerce platforms like Amazon, Flipkart, Nykaa, Netmeds, and HealthKart.
22462. Google pays Rs 33,737 Cr for 7.73 pc stake in Jio Platforms
- Alphabet Inc's Google has paid Rs 33,737 crore for a 7.73 percent stake in Reliance Industries Ltd's (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook, billionnaire Mukesh Ambani's firm said
- With this, Jio Platforms has raised a total of Rs 1.52 lakh crore by selling nearly 33 percent stake to 13 financial and strategic investors in just 11 weeks. This has helped RIL erase its net debt much ahead of the March 2021 target.
- Google and Jio Platforms will also collaborate to develop "an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store", the two companies had said in July
22463. Apple supplier Pegatron board okays initial $150 million investment in India: Report
- The board of Pegatron, Apple’s second largest contract manufacturer, has approved an initial investment of $150 million (Rs 1100 crore) for building manufacturing facilities in India
- Pegatron’s factory in India is expected to start production in the second half of next year or in early 2022 and the company plans to make more investments in India over the next two years,
- As for Pegatron, it must individually produce handsets worth Rs 4000 crore in its first year which begins in March 2021 under the PLI scheme.
22464. [Funding alert] CRED nears billion-dollar valuation after $80M fundraise
- Mismatch Credit card bill payment app CRED has raised $80 million in a Series C funding round led by DST Global, along with Ribbit Capital, Sequoia Capital, and Tiger Global, giving it a valuation of $800 million.
- The post-fundraise valuation — which is $200 million short of the coveted billion-dollar unicorn valuation — is almost twice as much as the Kunal Shah-led startup had been valued at ($450 million) after its Series B fundraise last year.
- CRED is Kunal's second venture after Freecharge — a coupon-powered mobile recharge app, which Snapdeal bought for $450 million in 2015.
22465. Amazon eyes potential $100 mln investment in India's Apollo Pharmacy – ET
- Amazon.com Inc is considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, facing up to Reliance Industries Ltd and Tata Group in the country's fast-growing drug market, the Economic Times reported
- Amazon already delivers medicines in India and the potential investment would come amid rising competition from Mukesh Ambani’s Reliance, which bought a majority stake in online pharmacy Netmeds.
- The growth of e-pharmacies, however, has left many Indian trader groups feeling threatened, who say online drugstores can contribute to medicine sales without proper verification and the entry of large players can cause unemployment in the sector.
22466. Budget 2022: Atmanirbhar Bharat in Defence! Govt announces sops for the domestic defence companies
- For FY 2022-23, the government has set aside 68 percent of the Defence Capital procurement budget for the country’s domestic industry. This is up from the 58 percent in the last fiscal.
- a new Nodal Body has been set up for Testing and Certification requirements of the defence systems and platforms. This Nodal Body will help the domestic players in the defence sector, as the processes will be cleared faster.
- Also the government has set aside 25 percent in the budget for defence research and development (R&D); start-ups and academia. This is expected to give a further boost to the private industry.
22467. Budget 2022: How Government Wants to Help Farmers With Drones
- Finance Minister Nirmala Sitharaman kickstarted her Budget 2022 speech by stressing on the importance of drones in the farming sector and as well as how drones could help boost startups in India. Betting on the agriculture sector, drones could be used for assessment and fertilisation, according to the government.
- Kisan Drones is said to be entrusted in deployment of drone technology in the sector, which also includes providing special monetary benefits that allows purchase or hire of drones for such purposes.
- The primary objectives of bringing drones into the sector is to reduce manpower, increase the efficiency of crop protection with chemicals, reduce the amount of water used for farming, and prevent humans from getting exposed to harmful pesticides.
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22468. IISc Bangalore's Swarnajayanti awardee is researching on materials to make computers more efficient
- A Swarnajayanti fellowship 2020-2021 from the Indian Institute of Science(IISc) Bangalore, Mayank Shrivastava is working on applications of upcoming materials that can help computers imitate those functions that the brain can perform in a very short duration.
- It can assist computers in performing cognitive processes, such as recognising people in a crowd, distinguishing smells, and learning and making judgments.
- The research group plans to work on novel devices which can emulate brain-like behaviour. This will ultimately aid in developing a few-atom thick neuromorphic circuit capable of several complex problems which a brain can easily solve, but are difficult for a conventional computer to solve in real-time. The work being undertaken will also help in paving the way for bridging critical gaps.
22469. THESE satellite pictures compare how India looked at night in 2012 and 2021
- Economic Survey of 2021-22 talked about the usage of satellite and geospatial data and shared satellite pictures showing how India looked in the night in 2012 and 2021.
- The satellite pictures showing the 'Night-time Luminosity' show the electricity usage and supply has spread across the country," Principal Economic Advisor Sanjeev Sanyal said.
- Last year, the Economic Survey was tabled two days before the Budget on January 29, as February 1
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22470. Space Tech Startup Agnikul Unveils Its Second Stage Assembly Of Made-In-India Rockets
- India is trying to make its own mark in the world of rockets, and thanks to this Indian startup, that might be a reality soon
- India is trying to make its own mark in the world of rockets, and thanks to this Indian startup, that might be a reality soon
- Founded in 2017 by Srinath Ravichandran, Moin SPM & SR Chakravarthy (from IIT-Madras), Agnikul is building India’s first private small satellite launch vehicle - Agnibaan, a rocket that enables plug-and-play configuration and is capable of carrying up to 100 kg of payload to low Earth orbits.