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IIT Madras researchers develop app for inter-city goods transportation

Economic Times

Economic Times · 1y ago

IIT Madras researchers develop app for inter-city goods transportation

Researchers at IIT Madras have developed a mobile application called 'OptRoute' that connects consumers directly with drivers for the transportation of goods within cities. The app eliminates the need for middlemen and commission fees, allowing the payment to go directly to the driver. OptRoute Logistics, an IIT Madras-incubated startup, has commercialized the app. The service is currently available in multiple cities across India. The app aims to address issues of connectivity and vehicle underutilization in the goods logistics and transport domain.

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Microsoft-backed AI4Bharat researchers to raise $12 mn: Report

Inshorts · 2y ago

Microsoft-backed AI4Bharat researchers to raise $12 mn: Report

AI researchers from AI4Bharat, an initiative by IIT Madras, are seeking to secure $12 million in funding from Peak XV Partners and Lightspeed Venture Partners to establish a new AI startup called Sarvam. The startup aims to develop specialized large language models tailored to India-specific applications. AI4Bharat is supported by Microsoft and NVIDIA, providing further backing to the venture.

IIT Madras researchers' casting process for magnesium to help aerospace & automobile manufacturing

Economic Times

Economic Times · 8m ago

IIT Madras researchers' casting process for magnesium to help aerospace & automobile manufacturing

Researchers at IIT Madras have developed the Strain Integrated Gas Infusion (SIGI) Process, a new method for casting magnesium. This innovation is crucial for producing lightweight, strong, and corrosion-resistant magnesium components used in automobiles, aerospace, and medical devices. The process enhances production efficiency by creating a uniform material structure, reducing costs, and timeline. The technology could also be applied to other lightweight materials. This development earned the IIT Madras team the International Magnesium Award for Innovative Process.

India sets eyes on world’s longest hyperloop test track

Economic Times

Economic Times · 6m ago

India sets eyes on world’s longest hyperloop test track

India is set to develop the world's longest hyperloop test track, aimed at assessing the feasibility of this high-speed transportation. The test track, spanning 40–50 km, will be supported by Indian Railways. Previous efforts include a 422-metre test track at IIT Madras. Hyperloop technology, featuring capsules in low-pressure tubes, promises speeds of up to 1100 km/h. Indian startups and international collaboration are driving this futuristic project, with significant investments anticipated.

TechEagle Bags Funds To Offer Drone Deliveries To Enterprises

Inc42 · 1y ago

TechEagle Bags Funds To Offer Drone Deliveries To Enterprises

TechEagle, a drone logistics startup, has raised funding in a round co-led by Navam Capital and Inflection Point Ventures. Other participants in the funding round include Vijay Shekhar Sharma, the founder of Paytm, and Venture Catalysts. The company plans to use the capital to expand its operations nationwide and develop higher payload drones for mid-mile and inter-city deliveries. Founded by IIT-Kanpur alumni Meena and Anshu Abhishek in 2017, TechEagle offers on-demand autonomous drone delivery services.

‘One Patent A Day’ drives research at IIT-Madras

Economic Times

Economic Times · 7m ago

‘One Patent A Day’ drives research at IIT-Madras

Indian Institute of Technology Madras (IIT-Madras) has been committed to innovation and entrepreneurship, filing 'One Patent a day' with 386 patents in 2024-2025 and only three rejections in six years. Notable innovations include Agnikul’s Rocket with a 3D printed engine. The Gopalakrishnan-Deshpande Centre for Innovation and Entrepreneurship has collaborated widely, training over 1,700 researchers. The symposium discussed enhancing collaborations to boost India’s scientific and economic growth, as India is poised to surpass major economies.

Want India to set example of how to use AI for social development: Sunil Wadhwani

Economic Times

Economic Times · 1y ago

Want India to set example of how to use AI for social development: Sunil Wadhwani

Sunil Wadhwani, co-founder of IGATE and Mastech Digital, has emphasized the need for India to develop a strong research and education ecosystem in AI and data science to avoid falling behind in the AI race. Wadhwani recently signed an MoU with IIT Madras to establish the Wadhwani School of Data Science and AI, contributing Rs 110 crore towards the initiative. He aims for India to become a global leader in utilizing AI for social development, with IIT Madras playing a crucial role in achieving this goal. The school will offer various degree programs and is set to commence admissions in July 2024.

Mahindra hails IIT-Madras startup developing electric flying taxis

Internet

Internet · 1y ago

Mahindra hails IIT-Madras startup developing electric flying taxis

Anand Mahindra was amazed by ePlane, a startup from IIT Madras, developing electric flying taxis for speedy urban commutes. Founder Prof. Sathya Chakravarthy plans to unveil their first vehicle in 2025. Mahindra hailed IIT Madras as a top incubator, celebrating India's tech innovation surge. ePlane aims to democratize flying, backed by investors like Angel List's Naval Ravikant.

Winzo develops model to differentiate games of skill and chances with IITs

Economic Times

Economic Times · 1y ago

Winzo develops model to differentiate games of skill and chances with IITs

Skill-gaming platform Winzo has collaborated with top institutions like IIT Delhi, IIT Kanpur, IIT Madras, Stanford University, and California State University to develop a statistical model that can differentiate between games of skill and chance. This initiative aims to enhance transparency and fairness within the gaming industry and provide a scientific methodology to determine if a game is a game of skill. The model can be applied to any game without the need for proprietary data or violating intellectual property rights. This development comes amidst concerns about self-regulatory bodies in India's online gaming sector.

IIT Madras Raises INR 513 Cr To Invest In R&D, Tech Deployment

Inc42 · 1y ago

IIT Madras Raises INR 513 Cr To Invest In R&D, Tech Deployment

The Indian Institute of Technology Madras (IIT Madras) has raised INR 513 Cr in the financial year 2023-24, setting a record for the highest funding raised by an academic institute in a year. The funds will be utilized for technology research, deployment of existing technology for societal needs, scholarships for deserving students, and infrastructure development. The funds were contributed by IIT Madras alumni, individual philanthropists, corporate social responsibility (CSR) funds, and grants from Indian and multinational corporate firms. The institute also received pledges of INR 717 Cr from alumni and corporate partners.

Startup news and updates: daily roundup (August 16, 2024)

YourStory

YourStory · 1y ago

Startup news and updates: daily roundup (August 16, 2024)

Cambridge University Press and Assessment have teamed up with Get Set Learn to introduce Young Pioneers, an entrepreneurship program for students in grades 7 to 10. The three-stage program combines curriculum-based learning, masterclasses, mentorship, and projects to develop entrepreneurial skills. IIT Madras has announced the winners of its eco-innovative contest, offering cash prizes and prototype funding to the top five student teams. LEAD Group's survey highlights the importance of multi-modal education, with schools employing integrated systems reporting better student performance. InCred Finance and Ola Money have partnered to offer personal loans to Ola users through the Ola app.

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