SPORTS TECH
Sebi framework for finfluencers; Nazara's Freaks4U deal
The Security and Exchange Board of India (Sebi) has approved a regulatory framework for financial influencers. This and more today’s ETtech Top 5.
Global Chess League to generate business value of $40 m in 5 years: Tech Mahindra CEO Mohit Joshi
The Global Chess League (GCL), initiated by Mahindra Group chairman Anand Mahindra, is projected to generate over $40 million in business value over five years, according to Tech Mahindra's CEO Mohit Joshi. The league, a joint venture with the International Chess Federation (FIDE), is the world's first franchise-based chess league and targets expansion into the US and Europe alongside India. With six current teams and plans to expand to eight teams from the third season, GCL aims to boost engagement across social media and TV platforms.
Spoilt for choice: How changing consumer preferences & tech advancements driving upgrades in electronics and car
Hyundai Motor India introduced the third upgrade to its flagship SUV, Creta, in January, followed by the performance-focused Creta N Line variant in March. Samsung launched the Galaxy S24 Ultra smartphone in yellow color. Kia India's senior VP highlighted the reduced product life cycles in the automotive industry.
Elon Musk's Tesla Highlights: Self-driving tech, cybertruck & robotaxi plans
Tesla's annual shareholder meeting on June 13 was marked by shareholder approval of Elon Musk's $56 billion performance-based pay package, despite previous legal challenges. Additionally, shareholders agreed to relocate Tesla from Delaware to Texas. Elon Musk, in his characteristic style, outlined ambitious technological advancements at the meeting: he projected rapid progress in self-driving car technology, including the potential for Tesla owners to connect with a future "Robotaxi" fleet for passive income.
Indian IT engineers are a cricket craze in the US
Indian IT professionals from companies like Cognizant, ServiceNow, and Cigniti are actively involved in promoting cricket in the USA during the T20 World Cup matches. The IT industry's role includes owning cricket franchises, sponsoring leagues, and even participating in matches. They are contributing to the growth of cricket in North America, with Indian origin players like Saurabh Netravalkar and Nosthush Kenjige playing for the USA team.
Madden 25: Everything you may want to know about release date, features and trailer
Madden 25, set for release on August 16, 2024, will feature Christian McCaffrey as the cover athlete. New game features include a re-engineered physics system, Franchise mode updates, and new commentary teams. Early access begins on August 13 for special edition purchases.
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From stuffed toys to sports cars, sales break gender rules
Gender norms are blurring in purchasing decisions, particularly in urban India, with more men and women adopting newer hats in their social and professional lives. Consumer goods companies are adapting their marketing strategies to address this change. Women are increasingly buying 'toys for boys', such as drones and remote-control cars, accounting for 25-30% of Hamleys' sales.
Dow slips nearly 1%, Nasdaq below 17,000 as rate worries push bond yields higher
Megacaps Microsoft, Alphabet and Meta dipped between 0.3% and 0.6% as U.S. bond yields across the board rose to near four-week highs after Tuesday's unexpectedly strong consumer confidence data. The Dow led declines, falling to its lowest in nearly one month, and all major S&P 500 subsectors were in the red in early trading.
IIT-Madras to provide funds to incubate sports-tech startups
IIT-Madras to fund sports-tech start-ups with AI and IoT products. Funds from IIT-Madras Pravartak Technologies Foundation and CESSA. Focus on sports tech incubator fund.
Iconic British car brand Jaguar Land Rover plans to ride India's luxury boom
The luxury carmaker plans to launch at least half a dozen new models from the JLR stables, both ICE and EV (internal combustion engines and electric vehicles), as it seeks to capitalise on the growing number of high-net-worth individuals in the country. This is the most aggressive push by JLR since it entered the Indian market in 2009.
M&M is wheeling big money into business. What is the plan?
Mahindra & Mahindra had outlined a new strategy for the coming five years with a focus on capitalizing on its market leadership in segments like SUVs, tractors and pickup trucks while scaling its growth-phase businesses five-fold during this period.
IPL: Incredibly Popular League
The IPL has become a global phenomenon since its inception in 2008, growing in stature and popularity with each passing season. Its success lies in its ability to deliver high-octane entertainment within a cricketing framework that appeals to both purists and casual fans alike. The T20 format ensures fast-paced action, while the inclusion of international stars creates a sense of spectacle and rivalry in every match.
Stupa Sports Analytics raises Rs 28 crore from Centre Court Capital, Peer Capital
Founded in 2020, Stupa Sports Analytics provides games federations and sports teams with analytics of player performance data, broadcasting capabilities and sports digitisation tools through its various platforms.
Tariffs and timidity are driving US carmakers into a ditch
Biden's Inflation Reduction Act aims to boost the economy and shift to zero-emission cars. Ford, GM struggle with EV targets. Tesla cuts workforce, US EV sales rise modestly. Biden plans tariffs on Chinese clean tech, facing challenges ahead.
IIT Madras raises 513 crore from alumni, corporates and donors in FY 23-24
The alumni did most of the heavy lifting, contributing Rs 368.19 crore, followed by the CSR segment contributing Rs 95.53 crore, with the rest coming from other sources.
Tech platforms make pitch for ad deals as TikTok is roiled by politics
TikTok is expected to generate $8.66 billion in U.S. ad revenue this year according to an estimate from research firm Emarketer. While it is a fraction of the size of Google and Meta, TikTok kicked off the short-form video craze and prompted rivals to build similar features.
Yoga pants inventor Lululemon Athletica plans to enter India
Lululemon Athletica plans to enter India independently, focusing on locations in Mumbai, Delhi, and Bangalore. The company, known for yoga pants, aims to tap into the country's growing demand for fitness and athleisure wear.
Agilitas appoints Nirdosh Chouhan as chief technology and product officer
Nirdosh Chouhan is a member of the founding team at Agilitas Sports. He will lead tech at Agilitas.
View: How tech is being a good sport
According to Statista, global sports market revenue was estimated at $487 bn in 2022, sporting goods market at $160 bn in 2023, and sports betting at $242 bn in 2023. Much of this revenue growth is attributed to technology, which ensures deep fan involvement through convenient, interactive and personalised engagement.
Nazara Tech, Resurgent consortium bidders for Smaaash
Smaaash owes creditors led by Edelweiss ARC about Rs 452 crore. Other lenders to the company are Yes Bank, Sidbi and Mabella Investment Advisors. It was admitted to bankruptcy in May 2022. Resolution professional Bhrugesh Amin has listed gaming machines, go-kart, bowling alleys and other entertainment devices spread across 13 centres as assets.
How companies are addressing employee burnouts in tech segment
The IT sector poses health challenges due to long work hours, affecting professionals' well-being. Solutions include promoting work-life balance, providing mental health support, and organizing physical fitness activities to ensure employee health and productivity.
Centre Court Capital launches $42 million sports, gaming tech fund
India is home to three gaming unicorns in Game 24X7, Dream11 and Mobile Premier League, besides having the world's second-largest population of gamers.
Sportz Interactive eyes $15-20 million revenue in FY24
Sportz Interactive has partnerships with major sports organisations like F1, UEFA, IOC, NBA, MLB, and UFC. In India, the company works with the BCCI, IPL teams, sports broadcasters, and gaming companies.
Both Nodwin and Sportskeeda biz will grow organically & through acquisitions: Nitish Mittersain, Nazara Tech
Nazara Tech, led by Nitish Mittersain, takes a conservative approach post-IPO, awaiting clarity on taxation. They are expanding in the gaming industry, focusing on e-sports, acquisitions, and scaling businesses for long-term growth. The future of gaming looks promising with emerging technologies like Web3, VR, and AI. Mittersain says: "Our strategy is to acquire good businesses, acquire good management teams, work with them, scale up, generate cash flow, and keep redeploying that cash flow for long-term compounding."
Hit it out of the field: From Nadella to Narayen, tech honchos pad up for 2nd season of MLC to take sport to masses in US
Major League Cricket (MLC), co-owned by Satya Nadella, Shantanu Narayen, and Vijay Shekhar Sharma, aims to make cricket mainstream in the US. It is also backed by Indian Premier League (IPL) teams and investors like Mukesh Ambani. MLC’s first season was held in July last year at the Grand Prairie Stadium near Dallas, Texas, and on the Church Street Park ground in Morrisville in North Carolina, generating $2.8 million in ticket sales and attracting more than 70,000 spectators. About 30% of the spectators had flown into Dallas just for the tournament.
OYO forays into sports hospitality business, shortlists 100 hotels in 12 key cities
OYO, a hospitality and travel-tech firm, has shortlisted 100 hotels across 12 key cities to cater to large sports events. The sports hospitality business aims to provide end-to-end solutions, including accommodation for athletes and sports officials. The company will offer a range of accommodation options, from budget-friendly to premium hotels, to ensure a comfortable stay for participants. Specialized packages and group booking options will be available.
Sports tech startup SportVot raises Rs 9 crore in funding from Omidyar Network India, others
SportVot has raised Rs 9.4 crore in pre-series A round to expand technology and product offerings, democratise sports through technology, and enhance sports participation. The funding will be used to make live sports content and data capturing more accessible, promote the playing culture, and commercialise sports at the domestic level.
Tech Mahindra to build sports cloud platform on AWS
The platform will build next-generation digital capabilities for sports organisations and deliver immersive sports experiences worldwide.
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