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India To Emerge As The Supplier Of Choice For Spacetech, Semiconductors: Lightspeed’s Hemant Mohapatra
Inc42
·
11m ago
Medial
India's space sector has seen significant growth and innovation in recent decades. From the establishment of ISRO to the upcoming Chandrayaan-3 mission, the country has made great strides. The space sector is now attracting attention from investors, who are eager to back innovative and long-term businesses in this field. The recent opening up of the sector to private entities has further fueled growth, with the establishment of IN-SPACe facilitating private sector participation. The Indian Space Policy 2023 has also provided momentum for the spacetech sector.
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Ola Electric appoints new compliance officer
Entrackr
·
7m ago
Medial
Ola Electric appoints new compliance officer Bengaluru-based Ola Electric Mobility Limited announced the appointment of Pritam Das Mohapatra as the new company secretary and compliance officer. The board of directors approved the decision during their meeting on December 30, 2024, with the appointment taking effect immediately. The appointment follows the resignation of Pramendra Tomar two months ago, who stepped down as the company's secretary and compliance officer due to personal reasons and commitments. Mohapatra brings over 14 years of experience in corporate laws, compliance, fundraising, IPO listings, and corporate governance. He is an associate member of the Institute of Company Secretaries of India. His previous experience includes roles at Merabo Labs Private Limited, ANI Technologies Private Limited, Ola Fleet Technologies Private Limited, and Zuari Infraworld India Limited. In his new role, Mohapatra will be responsible for overseeing the company’s regulatory compliance and governance framework, ensuring adherence to SEBI regulations and corporate governance standards. Last week, Ola Electric announced the resignation of two senior management personnel – Anshul Khandelwal, Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology and Product Officer – with immediate effect.
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Finance Ministry Notifies Amended FDI Rules For Spacetech Sector
Inc42
·
1y ago
Medial
India has implemented a liberalized foreign direct investment (FDI) regime for the space sector to support startups and companies in attracting investments. As of April 16, the amended rules allow for 100% FDI via the automatic route in certain segments of the space sector, subject to sectoral guidelines. The move aims to provide funding opportunities for research, development, and launching products and services within the spacetech industry. India is currently home to more than 150 spacetech startups that have raised over $285 million in funding since 2016. The Indian spacetech industry is projected to reach $77 billion by 2030.
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To Infinity & Beyond: Meet The 22 Spacetech Startups Winning The Space Race For India
Inc42
·
1y ago
Medial
India's spacetech sector has witnessed significant growth, with approximately $233 million in funding raised by startups in the field. The Indian Space Research Organisation (ISRO) has registered over 100 spacetech startups, positioning India as a key player in the global space industry. The government's support, including funding, technology access, and infrastructure support, has contributed to this growth. The spacetech sector is projected to reach a market size of $77 billion by 2030. Several Indian spacetech startups are expected to drive further innovation and contribute to the growth of the industry.
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Indian startups can thrive despite speed bumps, Lightspeed’s Bejul Somaia says
Economic Times
·
1y ago
Medial
India's young tech companies continue to attract investment despite challenges faced by high-profile internet firms like Paytm and Byju's, according to Bejul Somaia, Partner at Lightspeed Venture Partners. While regulatory orders and corporate governance issues have affected these companies, India's political stability, booming capital markets, and effective management of interest rates by the central bank make it an appealing destination for venture capital. Lightspeed has raised $500 million for its India and Southeast Asia fund and has invested in companies like Zepto, Udaan, and Razorpay. The firm is also capitalizing on the growing demand for artificial intelligence infrastructure.
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Micron starts mass production of memory chips for use in Nvidia's AI semiconductors
Economic Times
·
1y ago
Medial
Micron Technology has begun mass production of its high-bandwidth memory (HBM) semiconductors for use in Nvidia's latest AI chip, causing its stock to rise over 5%. The HBM3E chip will consume 30% less power than competitors and help meet the increasing demand for chips powering generative AI applications. Designed for Nvidia's next-gen H200 graphic processing units, the chip is expected to surpass the current H100 chip, driving even more revenue for the chip manufacturer. Micron's entry into the HBM chip market also provides an alternative supplier for GPU makers such as AMD, Intel, and Nvidia.
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KickSky, SanchiConnect, Riceberg VC Team Up for Spacetech Boost
StartupTalky
·
1m ago
Medial
SanchiConnect has partnered with KickSky Space Lab, supported by Riceberg Ventures, to boost early-stage spacetech startups in India. This strategic collaboration aims to propel companies beyond the proof-of-concept stage by providing them with global market access and funding opportunities. Dr. Sunil Shekhawat from SanchiConnect expressed enthusiasm about advancing India's spacetech ecosystem. This initiative complements existing public support and seeks to create a global spacetech community for founders, investors, and industry experts.
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National Space Day: Zerodha CEO Nithin Kamath bats for ’patient capital’ for spacetech startups. What is it? | Mint
Livemint
·
11m ago
Medial
India is celebrating its first National Space Day, and Nithin Kamath, the CEO of Zerodha, expressed his pride in India's homegrown space startups, such as AgniKul Cosmos and GalaxEye. Kamath emphasized the need for patient capital in the spacetech sector due to its cutting-edge research and technology requirements. He hopes that India will see more spacetech startups that make the nation proud. The government highlighted the rapid growth of the space sector, with over 300 startups emerging since its opening in 2020, contributing significantly to the economy and revolutionizing space exploration.
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BigEndian Semiconductors raised $3 million in a funding round led by Vertex Ventures SEA & India
Economic Times
·
11m ago
Medial
Bengaluru-based semiconductor startup, BigEndian Semiconductors, has secured $3 million in funding led by Vertex Ventures SEA & India. The company plans to use the funds to expand its team, boost R&D capabilities, and scale operations. BigEndian Semiconductors aims to develop homegrown semiconductor IP in India, with a focus on creating a "Make in India" chipset and launching its own surveillance system-on-chip (SoC) solution. The startup plans to initially target the Global South market before expanding into developed markets like Europe and the US. The investment is seen as an opportunity for India to become a global leader in semiconductors.
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Looking to increase sourcing in India to 50pc in mid term, to set up supplier park: Hafele
Livemint
·
7m ago
Medial
German interior solutions provider, Hafele, plans to increase its sourcing from India to 50% in the mid-term by developing a local supplier base. The company also intends to establish a manufacturing unit in India and create a supplier park to attract international suppliers. Hafele India, with a current turnover of INR 1,200 crore, aims to triple its business in the next six to seven years. However, the lack of a proper policy framework for the furniture industry poses challenges, such as the quality control order for hinges coming into effect on 1 January 2025.
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Aequs gets tryout to join Apple’s vendor team
Economic Times
·
9m ago
Medial
Contract manufacturer Aequs group, based in Karnataka, is in the trial stage of becoming an Apple supplier. If successful, it would be the second Indian company to be included on Apple's supplier list and the sole domestic firm to supply parts for MacBook personal computers and Apple watches. Aequs has begun trial production of MacBook enclosures and mechanical components for the Apple watch, and has sent these parts to Apple's designated supplier in Vietnam for fitment checks. The process to become an Apple supplier is rigorous, but electronics manufacturing in India offers a compelling opportunity for companies to enter the sector.
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