SPACE VENTURE
SpaceX's Falcon 9 grounded after failure dooms batch of Starlink satellites
The U.S. Federal Aviation Administration (FAA) grounded SpaceX's Falcon 9 rocket on Friday following the craft's breakup in space and the loss of its Starlink satellite payload. This incident marked the first failure in more than seven years for the rocket, which is a mainstay for the global space industry.
TV channels told to seek IN-SPACe nod before using foreign satellite capacity
In an advisory dated July 10, the MIB stated that the existing arrangements for provisioning of capacity in C, Ku or Ka frequency bands from foreign satellite operators can be extended till March 31, 2025.
Hungry for more: Food deals trending on startup street
Coffee, burgers, dosas and other brands scoop up new capital. Venture funds are investing in brands like FirstCoffee, AbCoffee, Café Amudham, Curefoods' Eatfit, Cakezone, aided by Sujeet Kumar, Binny Bansal. Curefoods seeks Rs 100 crore expansion.
Tata Realty plans to triple its office space portfolio in 7 years
On launching a real estate investment trust (REIT), Sanjay Dutt said, “Those options are always there. At that point in time, we will take a call. We don't want to comment right now because it's very fluid. Rightnow, our goal is to scale our portfolio and become meaningfully sizeable”.
Former defence secretary Ajay Kumar joins VC play with early-stage fund
Ajay Kumar, a former bureaucrat who retired as India’s defence secretary in 2022, has set up a new venture fund, Mounttech Growth Fund, to back early-stage startups. The Rs 250-crore fund has secured approval from Sebi. The fund will look to back startups in the space, aerospace, and deep tech sectors.
PE, VC funding slows in first half of 2024; secondary deals become prominent
Secondary stake sales and buyouts are driving most of the larger deals being made by private equity (PE) and venture capital (VC) funds in new-age firms, data from investment banking firm DC Advisory showed. In the first six months of 2024, when 37 deals took place in the $50-500 million range, 62% were secondary transactions or buyouts, with external primary investment rounds making up only 13%.
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Subscription-based toy library EleFant raises Rs 6 crore in seed funding from Venture Catalysts, Malpani Ventures
The platform offers toys and books sourced from over 70 top brands for children aged 0-12 through its Discover-Play-Return model, versus the conventional buy-play-clutter approach. The company has a presence in 16 cities.
Suzuki launches Rs 340 crore investment vehicle Next Bharat Ventures for Indian startups
The company will invest in firms through a residency programme, the first of which will begin this October, with applications starting on Thursday. This will be similar to those run by Antler and Y Combinator.
Reliance's app, stores may soon sport Shein
Reliance Retail Ventures is gearing up to launch Chinese fast-fashion label Shein in India, a year after forming a strategic partnership with the brand. The retailer plans to sell Shein products on its app and offline stores. Former Meta director Manish Chopra may lead Shein's operations in India. Shein aims to reduce dependence on China and leverage India's supply chain. The platform and data will be hosted and controlled by Reliance Retail.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Tech-enabled construction startup Wify raises funding from Mount Judi Ventures, Capria Ventures
The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories. Wify will also The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories, company said in a statement.
Y Combinator-backed AI robotics startup Pivot Robots raises funding from NuVentures
Pivot Robots will use the funds for team expansion, particularly in the areas of motion planning and computer vision. Siddharth Girdhar, cofounder of the company told ET, the funding will facilitate team growth, especially in motion planning and computer vision. Additionally, it will support increased robot testing and the establishment of office space.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
IN-SPACe announces launch of pre-incubation programme for space startups
IN-SPACe launches pre-incubation entrepreneurship programme to support early-stage space startups, chaired by Pawan Goenka.
Jio Satellite Communications seeks trial spectrum after IN-Space clearance
The Department of Telecom has already granted satellite communication service licence GMPCS and internet service provider licence to Jio Satellite Communications.
What physical, mental and genetic changes do astronauts undergo? Inspiration 4 Mission gives shocking information
A study says that three days in space are enough to change bodies and minds. The four people went on an Inspiration 4 mission in 2021.
TVF to venture into films, plans to make sci-fi & horror shows, says originals head Shreyansh Pandey
TVF, which began as a YouTube channel, has become one of the most successful companies in the Indian streaming space, churning out relatable stories from different corners of India whether it is "Panchayat", a drama set in the rural space, or "Gullak", which revolves around a middle class family in small town India. The company's first show as "Permanent Roommates" in 2014.
Boeing Starliner's first astronaut crew welcomed aboard space station
Boeing's Starliner capsule, carrying NASA crew, safely docked with the ISS, proving its flight-worthiness and competing with SpaceX. Despite technical issues, the mission was successful.
Boeing's Starliner capsule successfully deploys Sunita Williams, Butch Wilmore to ISS
Boeing launched astronauts Sunita Williams and Butch Wilmore to the International Space Station (ISS) aboard their Starliner capsule after overcoming multiple delays and technical issues. The mission aims to test Starliner's capabilities, including manual control and serving as a safe haven during emergencies. The launch, from Cape Canaveral Space Force Station, is a significant step for Boeing's Starliner program, which aims to provide crew transport to the ISS, competing with SpaceX's Crew Dragon capsule.
Boeing Starliner capsule's first crewed test flight postponed at last minute
Boeing's Starliner space capsule's inaugural crewed test flight faced another delay due to a technical issue, halting the countdown for at least 24 hours. The mission, carrying two astronauts to the ISS, is crucial for Boeing to compete with SpaceX in NASA's spaceflight contracts. The delay, caused by a ground system computer triggering an automatic abort command, marks another setback in Starliner's history of delays and glitches. Boeing is striving to catch up with SpaceX, NASA's primary transport to the ISS, and hopes for a successful mission to secure future contracts.
Investors taking a shine to Indian climate tech space
Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.
NASA will soon provide advanced training to Indian astronauts: Eric Garcetti
The day-long event in Bengaluru garnered participation from senior officials from both the US and Indian governments, including Garcetti, Indian Space Research Organisation (ISRO) Chairman Dr. Somanath. S, representatives from the National Aeronautics and Space Administration (NASA), National Oceanic and Atmospheric Administration (NOAA), and the Government of India, as well as prominent leaders from the commercial space industry, industry stakeholders, venture capitalists, and market analysts.
US's 1st Black astronaut ventures into space!
Dwight, now 90, got to experience a few minutes of weightlessness with five other passengers aboard the Blue Origin capsule as it skimmed space.
First global showcase of deeptech startups by SanchiConnect in collaboration with ThinKuvate in Singapore
Deeptech startup enablement community SanchiConnect announced its upcoming delegation to Singapore for EchelonX and fundraising program designed for community startups.
DG Innovate joins hands with EVage Motors, forays into domestic EV space
UK-based advanced R&D firm DG Innovate on Wednesday announced its entry into the domestic electric vehicle space through a joint venture with electric commercial vehicle startup EVage Motors. The JV, which will be 60 per cent owned by DG Innovate and 40 per cent by the Indian partner, will produce electric motors for both domestic and overseas markets, EVage said.
Tensions rise in Silicon Valley over sales of startup stocks
Tensions over the shadowy and often enigmatic market of private company stocks have reached a boiling point, just as the buying and selling of such shares has grown bigger than ever. At its center is an age-old debate: Should everyone have access to the riches and risks of investing in Silicon Valley startups?
Apple cofounder Wozniak's space startup Privateer buys Orbital Insight, raises $56.5 million
Privateer, founded in 2021 to help satellite operators navigate in Earth's increasingly crowded orbit, closed its Series A funding round in April, led by space-focused venture capital firm Aero X Ventures with other investors including Luxe Capital, Boca, Starburst, and the Winklevoss twins. The news is expected to be announced later on Monday.
ADIA, KKR book a $1.5b space in Reliance Retail warehouse
ADIA and KKR invest $1.5 billion in RRVL's warehousing assets, managed by RPPMSL. RRVL transfers assets to RLWH. Financial details include debt, NCDs, and equity. RRVL's growth supported by investments and strategic partnerships.
MrMed ventures into physical retail space with launch of store in Chennai
MrMed is set to inaugurate its inaugural physical store in Greams Road, Chennai on 25 April.
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