On June 5th 1994, Amazon was born out of Jeff Bezos's garage, the seed of an idea that has grown into one of the largest and most influential tech giants in the world. Bezos, then working at a hedge fund, saw the untapped potential of the internet. Web usage was skyrocketing, growing at a staggering rate of 2,300% a year, and Bezos realized the sheer possibilities that lay in this digital frontier. He was eager to carve out a business niche that could benefit from this unprecedented growth.

Swapping the hustle and bustle of New York City for the scenic landscapes of Seattle, Bezos laid the foundations of Amazon in his house. However, the early days were not without their trials and tribulations. One of the biggest challenges? Electricity. As Bezos recounted, "We had to string these big, orange extension cords from every room in the house to get enough power into the room where the office was."

First Steps and Initial Struggles

Bezos was relentless in his pursuit. He was on the lookout for talent to take his venture forward, building a team as diverse and dynamic as his vision. The inaugural Amazon website, which he laughingly remembers coding himself, was as rudimentary as could be.

In those early days, some customers were at a loss on how to use Amazon. One customer, unsure of how to complete the payment online, sent cash inside a floppy disk. It was a learning curve not just for Amazon, but for its customers as well.

The Dawn of E-commerce

Amazon's initial warehouse was non-existent. Bezos himself was on the warehouse floor, packing up orders. He even contemplated using knee pads to speed up the packing and delivery process. Despite these humble beginnings and initial confusion, Amazon saw a remarkable rise in orders.

By the end of the first year, sales reached an impressive $511,000, and in the second year, they skyrocketed to $15.7 million. It was a validation of Bezos's vision and Amazon's potential. The rapid growth earned Amazon a spot on Time's list of best sites and caught Wall Street's attention.

Weathering the Dot Com Storm

However, the turn of the century marked the burst of the dot com bubble, and Amazon was not immune to the fallout. In 2000, its shares tumbled by 80%. Amidst the storm, Bezos remained unfazed. He reassured investors of Amazon's inherent potential and his confidence in the business model.

As the tech world continued to reel under the aftermath of the burst bubble, Bezos set his sights on the future. He was focused on constant innovation, rolling out Amazon Prime in 2005, Amazon Web Services (AWS) in 2006, and the Kindle in 2007.

A Legacy of Innovation

Bezos's unwavering belief in innovation became Amazon's driving force. He often said, "The big winners pay for thousands of failed experiments." This was not an organic growth; it was an aggressive strategy underpinned by significant capital investment. Amazon was willing to spend huge amounts of money to secure its market dominance.

From its inception in a small garage to its present-day status as a tech behemoth, Amazon's journey has been marked by innovation, determination, and a vision that dared to explore uncharted territories. As we celebrate its founding day, we acknowledge the transformative power of one idea and the indomitable spirit of one man.

In the sprawling digital landscape, various cyber threats loom, posing significant challenges to the integrity of our information and systems. Some threats like viruses, worms, Trojans, ransomware, phishing, spear phishing, whaling, and social engineering have become household terms. However, there are many more cyber threats – equally potent, if not more – that often go unnoticed. In this article, we cast the spotlight on some of these threats while also revisiting the familiar ones.

Understanding the Familiar Threats

1. Malware: This is a collective term for malicious software, including viruses, worms, ransomware, and spyware. These programs are designed to damage or disrupt systems, steal information, or gain unauthorised access.
2. Phishing, Spear Phishing, and Whaling: These are deceitful methods used by attackers to trick individuals into revealing sensitive information. While phishing targets a broad audience, spear phishing and whaling are more targeted, often focusing on individuals or organisations of interest.
3. Social Engineering: This strategy relies more on human interactions than technology. Attackers manipulate individuals into breaking security procedures, often through tactics that instil fear, urgency, or a sense of trust.
4. Man-in-the-Middle (MitM) Attacks, Denial-of-Service (DoS) Attacks, SQL Injections, and Zero-day Exploits: These threats exploit various vulnerabilities in systems, from intercepting communications and overloading resources to manipulating databases and using undiscovered software flaws.

Shining Light on the Less-Discussed Threats

1. Form jacking Attacks: Cybercriminals inject malicious JavaScript code to intercept payment card details directly from the payment forms on the checkout web pages of eCommerce sites.
2. IoT Attacks: As Internet of Things (IoT) devices become increasingly commonplace, they are becoming lucrative targets for cybercriminals. Many IoT devices lack robust built-in security, making them an easy entry point into networks.
3. Deepfake Technology: This AI-based technology can create convincing fake audio and video content, leading to a new form of phishing attacks. Cybercriminals can impersonate individuals, potentially causing significant reputational damage or financial loss.
4. Side-Channel Attacks: These attacks exploit information gained from the physical implementation of a computer system rather than weaknesses in the software. For example, an attacker could obtain passwords by analysing the power consumption patterns of a device.
5. Cloud Jacking: As more businesses migrate to the cloud, threats in this area are increasing. Cloud jacking involves an attacker gaining unauthorised access to a cloud account, often to mine cryptocurrencies, leading to a significant increase in cloud computing costs for businesses.
6. AI-Powered Cyberattacks: Cybercriminals are harnessing AI and machine learning to launch more sophisticated and harder-to-detect attacks.

The cyber threat scape is vast and continuously evolving. Knowledge and understanding of these threats, familiar or otherwise, serve as the first line of defence. Remember, in the realm of cybersecurity, forewarned is forearmed.

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The Board of Control for Cricket in India (BCCI) has revealed its choice of players for the imminent T20I series against the West Indies. The 15-member Indian team promises a vibrant mix of promising newcomers and seasoned professionals, generating anticipation of dynamic gameplay, well-planned strategies, and hardened cricketing expertise. The selection announcement was met with mixed reactions - excitement for some, while disappointment for others who were surprisingly left out.

The selected team prominently features budding talents Tilak Varma and Yashasvi Jaiswal, signaling BCCI's commitment to nurturing new talent and its long-term vision for Indian cricket. These young cricketers have already displayed their remarkable capabilities in domestic matches and the nerve-wracking encounters of the Indian Premier League (IPL).

Sanju Samson, known for his flamboyant batting style and agile wicketkeeping skills, makes a welcome return to the squad, strengthening India's middle order. Samson's addition to the team is anticipated to bolster India's batting power and versatility.

Surprisingly, despite Rinku Singh's outstanding performance in recent matches, he did not make the cut. This exclusion is likely to provoke discussions, demonstrating the complex and competitive nature of team selection in Indian cricket.

Leadership for the team rests on the energetic Hardik Pandya, with the versatile Suryakumar Yadav as his second-in-command. The combination of Pandya's aggressive on-field tactics and Yadav's thoughtful strategies promises a thrilling leadership dynamic.

Anticipated to lead India's batting charge are the opening duo, Shubman Gill and Yashasvi Jaiswal. Their performances in the IPL have been nothing short of exceptional, with Gill propelling Gujarat Titans to great heights and Jaiswal shining for Rajasthan Royals.

The selection committee, led by Ajit Agarkar, has decided to recall Umran Malik, Arshdeep Singh, Avesh Khan, and Ravi Bishnoi. This decision underscores the committee's strategy of fostering young talent and building the future foundation of Indian cricket.

The bowling department offers an intriguing combination of spin and pace, featuring Axar Patel, Yuzvendra Chahal, Kuldeep Yadav, Ravi Bishnoi, Arshdeep Singh, Umran Malik, Avesh Khan, and Mukesh Kumar. This diverse lineup ensures the team's readiness to respond effectively to various match scenarios and pitch types.

India squad for T20I series against West Indies

Ishan Kishan (wk), Shubman Gill, Yashasvi Jaiswal, Tilak Varma, Suryakumar Yadav (VC), Sanju Samson (wk), Hardik Pandya (C), Axar Patel, Yuzvendra Chahal, Kuldeep Yadav, Ravi Bishnoi, Arshdeep Singh, Umran Malik, Avesh Khan, Mukesh Kumar

The upcoming T20I series against the West Indies presents a thrilling opportunity for cricket enthusiasts to witness the blending of raw talent and seasoned skills. The series is likely to serve as a stage to display the future direction of Indian cricket while consolidating its current accomplishments. The ultimate success will depend on the amalgamation of skills, experience, and fresh energy of the team members. Now, all that remains is to watch the electrifying cricket action unfold on the pitch.

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Have you ever misplaced your keys, struggled to recall names, or stumbled over crucial details? You're far from alone. Many of us wrestle with memory retention. But fret not, there are simple strategies that can significantly bolster your memory. Here are seven efficient tricks to help hone your memory and keep your brain in prime condition.

1. Regular Exercise

Not only beneficial for your body, physical activity also offers considerable advantages to your brain. Regular exercise stimulates the secretion of neuroprotective proteins and fosters brain health. According to research conducted by the Department of Exercise Science at the University of Georgia, even a short burst of 20-minute exercise can enhance information processing and memory functions.

2. Prioritise Quality Sleep

Sleep plays an indispensable role in memory consolidation, a process where short-term memories are solidified and transformed into enduring memories. Aim for at least 7-9 hours of sleep each night. A consistent sleep schedule can result in improved memory and cognitive function.

3. Consume Foods That Boost Memory

Incorporate foods known to enhance brain function into your diet. Berries, particularly blueberries, are rich in antioxidants that might delay brain ageing and boost memory. Other foods that can help improve memory include fatty fish, rich in Omega-3 fatty acids, turmeric, broccoli, pumpkin seeds, dark chocolate, oranges, and green tea.

4. Participate in Brain-Training Activities

Like any other muscle in your body, your brain benefits from regular workouts. Crossword puzzles, reading, writing, card games, and board games are all brilliant ways to challenge your brain and enhance your memory. Consider brain-training apps, too. Research has shown that these activities can boost memory and cognitive skills.

5. Employ Mnemonic Devices

Mnemonic devices are tools that aid memory by helping you remember words, information, or concepts. They form associations between constructs that are easy to remember and lists of data. Popular techniques include visualisations, rhymes, acronyms, and the method of loci, where you envision placing the items you want to remember in specific locations within a familiar room in your mind.

6. Practise Mindfulness

Mindfulness is a form of meditation where you focus on being intensely aware of what you're sensing and feeling in the moment. Mindfulness practice enhances cognition and increases your memory capacity. Spend a few minutes each day focusing on one sensory aspect to begin enhancing your memory skills.

7. Chunk Information

Chunking, or breaking down information into smaller, manageable parts, can significantly improve memory. For example, a ten-digit phone number can be much easier to remember when broken down into three parts.

Remember, enhancing your memory isn’t solely about learning tricks; it’s about cultivating a healthy, balanced lifestyle. Physical health, mental health, and regular habits play a crucial role in memory function. So, start incorporating these tricks into your daily routine and note the improvement in your ability to remember and recall information. After all, your memory is a skill, and like any skill, it can be refined and improved. So, start today and make every memory, unforgettable!

The Indian Space Research Organisation (ISRO) has achieved a pivotal milestone in the progression of its imminent moon expedition, Chandrayaan-3. This mission symbolises India's third lunar quest and is now fully coupled with its launch vehicle, the Launch Vehicle Mark-III (LVM3). This development marks a significant stride in India's ambitious endeavours to intensify its space explorations.

On the 5th of July, ISRO proclaimed via social media that the encased assembly carrying Chandrayaan-3 has been successfully united with the LVM3 at the Satish Dhawan Space Centre, situated in Sriharikota. This crucial coupling serves as an essential leap towards the final stages of pre-launch preparations.

The precise date of the mission's take-off is yet to be declared; however, the launch period for Chandrayaan-3 has been confirmed for between the 12th and 19th of July. ISRO's Chairman, S. Somanath, previously indicated that the organisation would opt for the earliest feasible date within the defined window to set the mission in motion.

Chandrayaan-3 is destined to expand upon the exploration endeavours of its predecessor, Chandrayaan-2, by demonstrating a comprehensive ability in secure landing and manoeuvring on the lunar surface. The mission comprises a uniquely Indian lander module (LM), a propulsion module (PM), and a rover, all engineered to test and advance the new technologies required for future interplanetary missions.

According to ISRO, the mission's lander module is built with the capability for a gentle landing at a specified lunar location and to release the rover. The rover will then perform on-the-spot chemical analysis of the lunar surface throughout its journey. Both the lander and the rover are equipped with scientific payloads to carry out a series of experiments on the moon.

The PM's main role is to shepherd the LM from the launch vehicle's point of injection to the final 100-km circular lunar orbit, before separating from the LM. Adding value to the mission, ISRO has also installed a scientific payload within the Propulsion Module, which will become operative following the separation from the Lander Module.

Following its anticipated mid-July lift-off, the mission will undergo orbital raising akin to the Chandrayaan-2 mission, with the lander and orbiter circling the moon before making their lunar descent. Somanath, ISRO's Chairman, disclosed that the lander has been bolstered with additional fuel and upgraded equipment for this mission. Chandrayaan-3 will mimic the trajectory of Chandrayaan-2 and is scheduled to descend at the same site.

This recent integration of the lunar vehicle with its launch vehicle illuminates ISRO's determination to push forward with its lunar exploration programme. It serves as an affirmation of India's increasing capabilities in space research and development, edging the nation closer to another extraordinary accomplishment in the realm of space exploration.

Every year, one of the most exciting and keenly watched events at TechSparks Bengaluru (scheduled for September 21, 22 and 23, 2023 at Taj Yeshwantpur)  is the unveiling of YourStory’s annual Tech30 startups list, a specially curated list of India’s 30 most high-potential and disruptive early-stage tech startups. Given the unprecedented benefits that come with being a part of this club, this opportunity could potentially change the course of your startup’s fortunes. 

Be a part of a multi-billion dollar club

Over the past 10 years, the 300 startups that were showcased in Tech30 have gone on to transform their growth trajectories, raising growth capital of more than $2 billion cumulatively, and creating more than 31,000 jobs.

The Tech30 alumni include a stellar list of disruptive startups that have gone on to redefine the categories they operate in and emerge as leaders in their space.

These include SaaS startups Freshworks and Capillary Tech, which are both poised for IPOs, as well as unicorns like InnovAccer and Chargebee, among other disruptive startups like Niramai, Loginext, MadStreetDen, DronaMaps, Hasura, and Pixxel. 

Over the past decade, at least 38 Tech30 startups, or over 13% of the total 300 Tech30 startups, have seen successful exits, while 108, or more than one-third of them, have expanded globally.

With more than 430 investors backing the Tech30 startups, these companies have gone on to create significant value, with a cumulative valuation of at least $7 billion.

In addition to the advantages that being a part of a platform like Tech30 provides, attending TechSparks will give you the chance to meet everyone worth meeting in the startup ecosystem. This includes fellow entrepreneurs, mentors, investors and industry experts. You will have the chance to:

• Present your startup to the world centre stage at TechSparks 2023
• Schedule dedicated meetings with TechSparks media, investors, mentors, partners, and others 
• Score a front-seat view at round tables, workshops, mentorship sessions, and amazing talks and discussions from experts in India’s entrepreneurship ecosystem
• Get a chance to win goodies  (we’ll keep this one a secret until closer to the big day) for your pitches.

The selection criteria

Year after year, we select 30 awesome startups from a huge list of applicants - startups that have the potential to be global successes. Last year alone, more than 2,000 startups applied to be a part of Tech30. You too can be a part of the Tech30 club. Startups will be judged based on:

• Extent of product innovation (defensibility and utilisation of technology)
• Market potential (target audience, competition, potential to scale, regulatory environment, the path to profit)
• Team strength (founder backgrounds, core team strengths, team composition)
• Revenue model (value generated, sustainability, long-tail profit/margins/gains)
• Stage in the lifecycle of the product/company (customer traction, product version, development timeline [versions, variants, newer products], plans for expansion)

15 minutes that could change your life

Applications are open until 25th July 2023, and the process should take you no more than 15 minutes. So, what are you waiting for? Apply now for this awesome opportunity to be a part of India’s most anticipated list of emerging startups, 

A month after dolling out its payment gateway and lending services, fintech unicorn PhonePe has introduced Point-of-Sale (PoS) devices enabling merchants to accept payments via debit cards, credit cards, and UPI. 

Besides rival Paytm, which claims to have 79 lakh paid merchants subscriptions for its devices (soundbox and PoS), the space is dominated by players like Pine Labs, BharatPe, Mswipe, and Ezetap, among others.  

With 35 million merchants, the Bengaluru-based fintech firm is aiming to deploy 1,50,000 devices by next year.

The device comes preloaded with the PhonePe PoS app and supports transactions through tap/swipe/dip and interoperable QR codes, the company said in a statement.

“The device features a unified and cohesive interface that supports various modes of payment, providing convenience and flexibility. By accepting credit and debit transactions, merchants can expect an increase in their average ticket size, ultimately driving overall business growth,” said Vivek Lohcheb, Head of Offline Business at PhonePe. 

While the exact price of the new product remains unknown, PhonePe said it is offered at a “nominal monthly rental”. 

In 2017, the Walmart-backed firm also launched an indigenous PoS calculator on Bluetooth technology.

Recently, PhonePe launched its account aggregator (AA) services through its wholly-owned subsidiary PhonePe Technology Services Pvt Ltd (PTSPL), which will allow its Indian consumers to consent to and share all their financial data such as bank statements with regulated financial institutions.

Funding

OfficeBanao raises angel investment from India Inc marquee leaders

Gurugram-based OfficeBanao has raised an undisclosed amount of angel investment from Ajit Mohan, Founding CEO, Hotstar, and Former MD, Meta India; Ramesh Nair, a real estate industry veteran; and Apurva Chamaria, Head of Partnership solutions, Startups, and Venture Capital, Google India. 

Following the successful pre-seed funding round of $6 million from Lightspeed in April 2023, workspace interiors platform OfficeBanao is disrupting India's competitive workspace interior market with its end-to-end service. The additional funding will fuel the company’s expansion and solidify its position as a market leader. The funds will be used to further enhance its technology-driven platform, accelerate product development, and expand its workforce.

LUZO raises $250,000 led by 100X.VC and marquee investors

Mumbai-based mobile app LUZO, a curated marketplace for premium salons, spas, and aesthetic clinics, has secured $250,000 in a pre-seed round led by 100X.VC. Angel investors such as Yash Kotak (Founder of Jumper.ai) and Kabir Kulkarni also participated in the funding. 

The B2B2C startup, which previously received funding from 100X.VC as part of the Fund's Class 08 Portfolio, intends to use the capital to onboard additional premium partners in Mumbai, Delhi, and other major cities.

Further, LUZO aims to enhance the user experience and streamline processes by leveraging technology through its app, available for both customers and salon partners. Currently, the app allows customers to make free bookings at 150 premium salons and spas in Mumbai and Pune, downloadable from the Google Play Store and Apple App Store.

Other

Shiprocket gears up for ‘Shiprocket SHIVIR 2023’

Ecommerce enablement platform Shiprocket is launching its flagship event, Shiprocket SHIVIR 2023. The summit aims to unite the ecommerce sector for a day-long event focused on education and the transformation of digital commerce in the country.

The event is in line with Shiprocket’s commitment to empowering MSMEs across India. To be held on August 4 at Pullman Aerocity, New Delhi, Shiprocket SHIVIR 2023 is expected to bring together India's entrepreneurial pioneers, visionaries of Aatmanirbhar Bharat, forward-thinking business owners, and futuristic service providers. Attendees will have the opportunity to participate in engaging discussions, keynote sessions, interactive workshops, and networking opportunities.

PrepInsta promotes Ashish Mishra to Chief Growth Officer

Placement preparation website PrepInsta has promoted Ashish Mishra to the position of Chief Growth Officer. Having been with PrepInsta for the past four years, Ashish started as a content developer in June 2019 and progressed to the role of Content Development Manager in 2021. 

In his new role, Ashish will manage the organic flow of the website and optimise its SEO performance. Leading a team of growth associates and managers, he will work to enhance the user experience and develop innovative ideas for website optimisation. Ashish will also oversee content management and will leverage his expertise in understanding Google algorithms to improve page rankings and increase the website’s visibility in search results.

IndiaPlays strengthens leadership team

IndiaPlays, an online gaming platform, has onboarded Ami Palan as Head of Marketing and Strategy, and Yash Thakkar as Head of Sales to its senior leadership team. 

Palan, previously a Brand and Content Strategist at PlayerzPot Media Pvt Ltd, brings expertise in strategic brand solutions and go-to-market strategies. She will focus on enhancing IndiaPlays' brand presence in the evolving online gaming landscape.

Thakkar, with over eight years of experience, will leverage his strategic acumen to manage sales teams and drive business growth.

TeamLease Edtech launches Digivarsity 

Learning solutions provider TeamLease Edtech has unveiled Digivarsity, an innovative tech-driven platform that seamlessly combines academic learning with real-world experience for higher education learners. 

The platform aims to revolutionise higher education in India by empowering students with the necessary workplace skills and academic knowledge for long-term career success. Digivarsity has already established partnerships with India's top 10 universities and more than 150 prominent employers to offer cutting-edge work-linked degree programs, effectively bridging the gap between education and employment. 

This platform enables students to make informed decisions about their education while gaining practical work experience alongside their college studies.

The company has also partnered with several PSUs for furthering the cause and reach of these Work Integrated Degree Programs;  Board of Apprenticeship Training (BOAT-WR), CSC Academy, Assam Electronics Development Corporation (AMTRON), Govt of Telangana, APSCHE (AP State Council of Higher Education) are some of the PSUs who have partnered with the company.

Toprankers Acquires The Lex Guru

Prominent Indian digital learning platform Toprankers has acquired The Lex Guru in Indore.  The Lex Guru works towards achieving excellence in judicial studies, guided by judges and academicians, offering comprehensive teaching for Judicial Services Examinations. 

This strategic move enhances Toprankers' judiciary preparation and expands its regional offerings. To commemorate this milestone, Toprankers will host the "Judiciary Samwaad" event on July 7 at Geeta Bhawan, AB Road, Indore.

Lab2Land partners with FinBox to disburse Rs 4 Cr digital credit to agri retailers

Hyderabad-based agritech platform Lab2Land has teamed up with credit infrastructure provider FinBox to tackle the credit crunch faced by agri retailers. The partnership aims to provide digital credit amounting to Rs 40 crore to approximately 5,000 agri retailers. 

Lab2Land addresses the challenges of the agricultural value chain, including rising input costs, knowledge gaps, and lack of organised credit, by offering affordable inputs, expert advisory services, and digital credit powered by FinBox.

SMFG India Credit elevates Swaminathan Subramanian as COO

SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) has named Swaminathan Subramanian as its new Chief Operating Officer (COO).

Subramanian, previously serving as the Chief People Officer (CPO), will now oversee a range of functions including operations, technology, legal, enterprise services, human resources, and corporate social responsibility (CSR). 

Namma Yatri onboards Kapture to enhance customer experience 

One of India's first transparent ride-hailing app, Namma Yatri, has partnered with Kapture CX, a renowned SaaS-based Customer Experience platform, to address customer inconveniences across multiple channels. 

Developed in collaboration with the Beckn Foundation and supported by Infosys co-founder Nandan Nilekani, Namma Yatri aims to challenge unfair work practices and high fares imposed by ride-hailing giants. With over 1.1 million users and 68,000 registered drivers, the app emphasises customer centricity and plans to leverage deep customer insights for hyper-personalization and augmented experiences. 

Delighted with the collaboration, Sheshgiri Kamath, CEO of Kapture said, “We are excited to be a CX partner of a revolutionary app. As part of the integration, we would deeply focus on bringing customer centricity for Nammi Yatri by providing deep customer insights for hyper-personalisation, augmented customer experience and business scalability.”

 “We were looking for a solution that can help us unify the voice of the customers. With this partnership we look forward to adding a layer of personalization at every level which will help us bring more context and create wonderful CX” said Rajiv Ravindran - Customer Support Head of Namma Yatri.

(The copy will be updated throughout the day with the latest news)

Battery swapping network Battery Smart has raised $33 million (Rs 272 crore) in a pre-Series B funding round from existing investors Tiger Global and Blume Ventures, as well as new investors, The Ecosystem Integrity Fund and British International Investment.

The Delhi-based company plans to use the capital to expand its geographical presence and customer base by one lakh by 2025. Battery Smart currently has 25,000 customers across Tier I, II, and III cities.

“This investment signifies our commitment to enhancing the livelihoods of our station partners and drivers, empowering them to play a significant role in India's transition towards electric mobility,” said Pulkit Khurana, Co-founder and CEO, Battery Smart.

“We are excited to partner with Battery Smart, a company whose innovative business model has enabled impressive and sustainable growth,” said Devin Whatley, Managing Partner, The Ecosystem Integrity Fund.

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“We are excited to continue to invest behind Pulkit, Siddharth, and the entire Battery Smart team and their mission to simplify and accelerate electric vehicle adoption, and therefore clean transportation,” said Deep Varma, Head of Singapore, Tiger Global.

In June 2022, Battery Smart raised $25 million in Series A funding led by Tiger Global, along with participation from Blume Ventures and Orios Ventures. Since then, the company said it has witnessed a 6X growth in revenue and customer base, creating a network of over 600 swap stations across 25 cities.

To date, the company has completed more than 12 million battery swaps and is looking to double that number.

Battery Smart follows a franchise model, collaborating with small facilities and mom-and-pop garages to serve as battery-swapping stations.

The company sources its batteries from various manufacturers, including Livguard, Greenfuel, and Lohum.

Earlier this year, one of Battery Smart's battery swapping stations, located in Delhi's Janakpuri area, caught fire. The station housed approximately 50 battery packs intended for powering electric vehicles.

Khurana said a short circuit may have caused two battery packs to overheat, leading to the fire. He emphasised that Battery Smart adheres to stringent safety protocols, including training franchise staff for emergency situations and conducting monthly checks at all battery swapping stations to ensure safety.

(More information has been added to this PTI copy for context.)

India’s vibrant IT sector has become one of the most significant growth catalysts for the country’s economy, contributing significantly to the country’s GDP and public welfare.

As per NASSCOM, the IT industry is estimated to grow to 245 billion dollars, reflecting an incremental net revenue addition of $19 billion for the year. The sector also accounted for 7.4% of India’s GDP in FY22, and it is expected to contribute 10% to India’s GDP by 2025.

As innovative digital applications permeate sector after sector, India is now prepared for the next phase of growth in its IT revolution.

With the numbers and growth environment today being a clear reflection of the opportunity available to investors, Axis Mutual Fund has launched a brand-new offering - the Axis NIFTY IT Index Fund, an open-ended Index Fund tracking the NIFTY IT TRI that aims to replicate the market index to enable investors gain exposure to India’s IT sector.

In an engaging fireside chat, Ashwin Patni, Head Products and Alternatives, Axis AMC, spoke to YourStory about Axis Mutual Fund’s new scheme (NFO open from June 27 to July 11), and what it has to offer investors.

Here are the key takeaways:

Understanding the growth opportunity that India’s IT sector presents

“India’s IT and BPM exports have outperformed global IT services growth,” said Ashwin as he outlined the growth opportunity in the sector and how forecasts suggest acceleration in IT services spends in CY23.

While many industries are slowing, demand for Global IT services has grown significantly. Technology platforms like cloud computing, enterprise solutions, and AI are driving incremental growth for the sector. Indian companies, which have invested extensively in capabilities have seen larger client additions or order wins. Use of SaaS and other machine-driven services such as hyperscalers has grown exponentially. All of these have converged giving India an opportunity to become a hub for technology and innovation, as corporations look to adopt technology at a global scale.

Consequently, shares of some technology companies are now among the top gainers in the stock market. This explains how the IT sector has not lost its relevance since 2022 when it raced to the bottom of the market due to price corrections.

Core advantages that give the fund a distinctive edge over competitors

Patni also spoke about how the fund's sharp focus on the IT sector with exposure to strong IT companies with global presence, and NIFTY IT Index, which comprises the 10 largest IT companies by free float market capitalisation listed on NSE, gave it an edge as a fund.

“One of the most secular themes in the Indian markets is the IT theme,” he said, talking about the distinction between a broad-based diversified fund and a sectoral fund. He also explained how the sector has emerged as a winner among sectors with 10-year CAGR % and demonstrated consistent performance, which is ideal for long-term wealth creation.

“If you look back over the last 20 to 25 years, we've seen pretty secular growth in the IT sector. We've all seen how this sector transformed the Indian economy and services exports that we've generated. So, it's a theme that a lot of people are familiar with, and capable of relating to. That's where a product like this helps,” he added, talking about the macro factors that define the sector, including growth through the past one to two quarters, order bookings holding up well, and an expected recovery in revenue momentum from the second half of FY24.

“At Axis AMC, we stand for really true-to-label products and a high-quality execution. We are also extremely focused on minimising risk in every aspect of our process and running very tightly managed portfolios, as far as tracking is concerned,” he said, explaining what sets Axis Nifty IT Index Fund apart from the rest.

Leveraging the potential of India’s IT sector

As an open-ended index fund tracking NIFTY IT Index, the Axis NIFTY IT Index Fund seeks to track returns by investing in a select basket of Nifty IT TRI stocks, and aims to achieve returns of the stated index, with consideration for tracking errors. This fund is suitable for investors who are seeking a long-term wealth creation solution. For example, in this case, only the top 10 IT companies are a part of the index.

“With an active portfolio, you constantly revisit the companies on a daily, weekly or monthly basis. Passive portfolios, on the other hand, are relatively stable, and the baskets tend to be fairly stable over a period of time,” said Patni, talking about the key benefits and reasons for popularity of the passively managed index funds.

“Given that this is a passive product, what we're really trying to do as a fund manager is actually making sure that we run a very, very efficient product that closely replicates the underlying index as far as possible, with minimal tracking error,” he said.

“I believe that when investors invest in Axis funds, this fund in particular, they have the comfort of getting something very close to the basket, and with an extremely sharp focus on efficient execution and minimising tracking error,” he added.

How to invest in the Axis Nifty IT Index Fund

With the NFO open from June 27 to July 11, 2023, Patni also spoke about how its minimum initial investment amount of just Rs 5,000 making the fund a truly cost-effective investment option for all classes of investors.

“One can invest in the fund through the app or website or distributors or investment advisors,'' he added, speaking about how investors could access the fund, based on their comfort level.

^{Source: AMFI, NASSCOM}

^{Product Labelling and Riskometer:}

^{Axis Nifty IT Index Fund (An open ended Index fund tracking the NIFTY IT TRI)}

^{*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.}

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In the fast-paced and competitive landscape of modern business, the pursuit of efficiency and productivity has become paramount. Organisations face the challenge of meeting ever-increasing demands while ensuring optimal resource utilisation. To tackle this uphill battle, businesses have sought ways to automate mundane and time-consuming tasks that eat into valuable time and manpower.

Traditionally, three prevailing approaches have been employed: outsourcing to Business Process Outsourcing (BPO) providers, building internal tooling to automate processes, and implementing Robotic Process Automation (RPA). These approaches have provided relief by reducing manual labour and improving operational efficiency.

However, they also come with inherent limitations that hinder their effectiveness in addressing the evolving needs of businesses. For example, building internal tooling requires significant investments in time, expertise, and resources, along with ongoing maintenance challenges. While RPA excels at extremely well-defined, unchanging tasks and environments, it struggles with minor updates, necessitating manual intervention.

Fulcrum, a company established by Arjun Mangla and Sambhav Anand, two Indians residing in the US, is dedicated to addressing these issues by harnessing the latest advancements in artificial intelligence (AI).

The backstory 

Co-founders Mangla and Anand first met at Columbia University in the US. Mangla was Anand’s Teaching Assistant and the duo immediately bonded over their shared passion for technology and their drive to build something impactful. 

At a very young age, Mangla had witnessed the potential of technology; his entrepreneurial spirit was inspired by his parents' perseverance. This led him to pursue computer science at Columbia University, where he immersed himself in research, teaching, and various software and product roles in tech companies. 

Anand's entrepreneurial spirit was ignited in adversity when the run of his college startup, which had initially emerged as a last-minute entry for a university-hosted entrepreneurial pitch competition, came to an abrupt end due to regulatory uncertainties. “The experience, as painful as it was, taught me valuable lessons about resilience and adaptability, lessons that I could use for my next venture. At the end of this experience I knew entrepreneurship was for me,” he says. 

Anand decided to gain some experience at fast-growing tech companies such as Oscar Health and Affirm. Meanwhile, as a business analyst at McKinsey, Mangla had gained valuable experience in designing and launching enterprise SaaS products, understanding the mindset of investors, and working on go-to-market strategies for enterprise tech companies. 

Soon their paths converged, and they felt it was the right time to quit their full-time jobs and dive headlong into entrepreneurship.

Mangla expresses confidence in the complementary skillsets, combined strengths, and diverse experiences of himself and Anand. Together, they are well equipped to confront challenges directly. Their venture, Fulcrum, aims to consolidate their individual knowledge and expertise into a software product that delivers valuable advantages to enterprises.

The journey for the founders has been a blend of challenges and rewards. The initial phase of pinpointing their startup idea was just the tip of the iceberg. Together, they overcame numerous obstacles, including navigating entrepreneurship in a different country and striking a balance between their demanding full-time jobs and the conviction to build something new.

Fulcrum is now backed by early-stage investors in the Bay Area- the South Park Commons Fund.

What’s ahead?

Mangla and Anand are focused on delivering for their early partners. Their aim is to empower large enterprises to focus valuable time, energy, and resources on critical decision-making, relieving them of the burden of monotonous workflows.

The founders remain steadfast in their commitment to deliver the value they have promised to partners, clients, and enterprises at scale.

The digital tapestry of our modern world is intricately woven with countless threads of data and connections. While this digital revolution has catapulted society into an era of unprecedented convenience and connectivity, it has also exposed us to new risks and challenges. We know cybersecurity is our shield in the digital realm, but let's delve deeper to uncover the lesser-discussed aspects of this critical discipline.

The Anatomy of Cybersecurity

Cybersecurity is a multi-layered entity, stretching far beyond the well-known domains of network, application, and information security. There are several crucial areas that often go unnoticed:

Behavioural Security: It's not just about the technology we use, but how we use it. Studying user behaviour patterns can help identify abnormal activities and potential threats.

Data Loss Prevention: Instead of merely responding to attacks, proactivity is essential. Measures to prevent data leaks or thefts, including encryption and access controls, are instrumental in a comprehensive cybersecurity strategy.

Intrusion Detection Systems (IDS): These systems monitor networks for any suspicious activity and issue alerts when potential threats are detected. It's like having a digital watchdog for your systems.

Secure Coding: Software is often an entry point for cyberattacks. Secure coding principles ensure that applications are built with security in mind from the ground up.

The Threat Landscape

While cyber threats like malware, phishing, and DoS attacks often steal the limelight, there are other insidious risks lurking in the shadows:

AI-Powered Attacks: Artificial Intelligence isn't just a tool for defenders. Cybercriminals are harnessing its power to launch sophisticated, automated attacks.

Insider Threats: Not all threats come from the outside. Disgruntled employees, or even those who unwittingly become accomplices in an attack, pose significant security risks.

Supply Chain Attacks: Attackers often target less-secure elements in a supply chain to compromise a larger organisation. No matter how secure your systems are, your security is only as strong as the weakest link in your supply chain.

The Evolving Role of Cybersecurity

Cybersecurity isn't a static field—it's continually evolving to meet new challenges:

The Cybersecurity Skills Gap: The demand for skilled cybersecurity professionals far outstrips supply, leading to a significant skills gap. Addressing this gap is a critical challenge for the industry.

Regulation and Compliance: As governments grapple with the implications of the digital age, laws and regulations governing data and security are proliferating. Navigating this landscape is becoming an integral part of cybersecurity.

Ethical Hacking: Not all hackers are villains. Ethical hackers use their skills to help organisations identify vulnerabilities and strengthen their defences.

Cybersecurity is more than a shield—it's an ever-evolving ecosystem that navigates the complexities of the digital age. As we continue to journey through this interconnected digital world, understanding the depths of cybersecurity equips us with the knowledge to safeguard our digital assets better. After all, in the realm of cybersecurity, knowledge is the most potent weapon.

Also Read

Guarding the Digital Frontier: A Comprehensive Guide to Cybersecurity

Are you a new entrepreneur navigating the waters of the startup community for the first time? If you have been doing the rounds in co-working spaces, accelerators, and incubators to ideate on your killer startup idea, you may have heard several terms that can be a little bit of a head-scratcher.

If you want to win the game of entrepreneurship, it is imperative that you familiarise yourself with startup terminology. This article will walk you through the top 10 terms you need to know if you are in the ideation stage of your startup.

Additional read: A STEP-BY-STEP GUIDE TO START A STARTUP IN INDIA

1. Ideation

First things first, you need to know what ideation is. It’s the initial stage of your business when it hasn’t even taken birth yet. You may have identified a pain point in the market and now, you want to come up with solutions to fix it. The ideation stage involves brainstorming, prototyping, and sketching ideas with your team to narrow down a product or service that will solve the problem you are trying to address.

2. Target Market

Once you have identified what your idea is, the next step is to identify your target customers. A target market is a group of customers who are the perfect users for your product or service. These customers have similar characteristics – demographics, income group, location, lifestyle, etc. For instance, a Hindi gaming app may be targeted at youngsters aged 18-30 who have a disposable income to spend on entertainment and are located in North India.

Identifying your target market is a cornerstone of business because a bulk of your sales and marketing tactics will be aimed at them. It is useful to identify the target market in the ideation stage of your startup because you can also use them to conduct market research and test your minimum viable product.

3. Proof of concept

Proof of concept determines whether the idea or concept that you have is technically feasible, commercially viable and can address the problem in the market effectively. You can check proof of concept by talking to a select group of potential customers and receiving their feedback. You will also need to test for a revenue model, cost structure, and potential profitability. Once you have established that your idea is feasible, you can proceed with your startup with confidence.

4. Minimum viable product

Minimum Viable Product (MVP) is a basic version of the product or service you plan to take to the market. An MVP has only the core features necessary to test its effectiveness in the market. Usually, an MVP uses bare minimum investment to gauge the target market’s interest. You can then build on this concept to create a better and more advanced version that will make it sellable.

5. Problem-solution fit

Problem-solution fit refers to how well a startup's product or service addresses a specific problem or need in its target market. To simplify, problem-solution fit means that the startup has found a real problem that people are facing and has created a solution that effectively addresses that problem. It involves understanding the target market, identifying the challenges or frustrations that potential customers are experiencing, and developing a solution that solves those problems in a unique and valuable way.

6. Competitor analysis

Every idea has already been thought of. Startups often have direct or indirect competition. Competitor analysis is the process of evaluating the strengths, weaknesses, strategies, and offerings of competitors of a startup and the industry it operates in.

By conducting a competitor analysis, you can determine how a startup's product or service stands out from its competitors. You can pinpoint unique selling points, competitive advantages, and any gaps in the market that the startup can exploit. It also provides insights into the startup investment risk, market size and growth prospects.

7. Alpha test

Before you roll out your product in the market, it is advisable to conduct an alpha test. Alpha testing involves testing your product or service in a controlled environment. Typically, it is done internally or with a small group of early users. Alpha testing can help you identify critical issues, bugs or other concerns that need to be fixed before you release the product publicly.

8. Beta test

After alpha testing, entrepreneurs often go in for a round of beta testing. This is the final phase of testing out your product’s viability in the market. It is released to a wider group of users to identify any loopholes that may have been missed. This is the chance to fine-tune your product before it goes into production and shipped out to the wider market.

Also Read

Zuckerberg vs Musk: Meta's Threads App Ready to Challenge Twitter

9. Lean startup

A lean startup is a startup methodology that focuses on reducing waste, maximising learning, and efficiently bringing a viable product to market. The lean startup approach emphasises the importance of testing assumptions and hypotheses through real-world experiments. Rather than spending too much time and resources to build a product upfront, lean startups focus on building a minimum viable product (MVP) with essential features. This allows them to release the MVP to the market, measure its performance, gather user feedback, and learn from the data and insights obtained.

The lean startup approach helps to mitigate risk, improve resource efficiency and focus on evidence-based decision-making. It can help startups succeed more quickly.

10. Design thinking

Design thinking is an approach that puts users at the heart of the development process. A startup that focuses on design thinking spends time to understand user needs and problems and develops solutions that are user-centric. It encourages creative thinking, brainstorming, and exploring unconventional ideas. This mindset can lead to the development of unique and differentiated solutions that stand out in the market. Investors are often drawn to startups that demonstrate a creative approach to problem-solving and have the potential to disrupt existing industries.

Additional read: INTERESTED IN LAUNCHING A STARTUP? HERE ARE 12 TERMS EVERY FOUNDER SHOULD KNOW

Strap up your boots!

Sinking your teeth into startup terminology can seem daunting, but if you go step by step, you’ll catch up in no time! Armed with these terms, you can walk into any startup networking group without feeling like a deer caught in the headlights.

In the digital age, social media platforms are proving to be a game changer for businesses, especially startups, to expand their audience and reach potential customers. By employing effective strategies and techniques, startups can establish a strong online presence, enhance brand awareness, and drive business growth.

In this article, we will explore how startups can make the most of social media to achieve their business objectives and maximise their success.

Understanding the power of social media

Social media has revolutionised the way businesses connect with their target audience. Platforms such as Facebook, Instagram, Twitter, LinkedIn, and YouTube have billions of users, presenting a vast pool of potential customers for startups. These platforms enable startups to directly engage with their target market, promote their products or services, and establish their brand identity.

However, to effectively leverage social media for business growth, startups need to develop a robust social media strategy. Here are some key steps to consider:

• Define your objectives

Begin by clearly defining your objectives. What do you aim to achieve through social media marketing? Are you seeking to increase brand awareness, generate leads, drive website traffic, or boost sales? Defining your objectives will help you align your social media efforts with your business goals.

• Identify your target audience

Understanding your target audience is crucial for crafting targeted and engaging content. Conduct market research to identify your ideal customer demographics, interests, and pain points. This information will enable you to tailor your social media content to resonate with your target audience.

• Choose the right platforms

Not all social media platforms are suitable for every business. Analyse the demographics and characteristics of each platform to determine which ones align with your target audience. For instance, if your startup offers professional services, LinkedIn might be more effective than Instagram.

• Develop compelling content

Creating high-quality and engaging content is essential to captivate your audience. Share valuable information, industry insights, and entertaining content that resonates with your target audience. Incorporate visuals such as images and videos to make your content more visually appealing and shareable.

• Engage and interact

Social media is not merely a one-way communication channel. Actively engage with your audience by responding to their comments, messages, and mentions. Encourage discussions, ask questions, and seek feedback to foster a sense of community and build customer loyalty.

• Utilise paid advertising

While organic reach on social media can be limited, utilising paid advertising can help amplify your brand’s visibility. Platforms like Facebook and Instagram offer robust advertising tools that allow you to target specific demographics, interests, and behaviors, ensuring your content reaches the right people.

Key Strategies for social media success

Now that we have covered the fundamental steps, let’s delve into some key strategies that can propel startups toward social media success.

• Influencer marketing

Collaborating with influencers who align with your brand value and target audience can be a powerful way to expand your reach. Influencers have established credibility and a loyal following, making their recommendations highly influential. Partnering with relevant influencers can introduce your startup to a wider audience and generate valuable leads.

• User-generated content

Encourage your customers to create and share content related to your products or services. User-generated content acts as proof, demonstrating the value and satisfaction associated with your brand. It also fosters a sense of community and encourages engagement among your existing and potential customers.

• Hashtag campaigns

Hashtags are a powerful tool for increasing your brand’s visibility and joining relevant conversations. Create branded hashtags that align with your marketing campaigns and encourage your audience to use them when sharing content. This not only increases brand awareness but also helps you track user-generated content and engagement.

• Video Marketing

Videos have emerged as one of the most engaging forms of content on social media. Startups can leverage video marketing to showcase their products, share tutorials, and present customer testimonials. Startups can use YouTube and Instagram Reels to create visually appealing video content.

Measuring success and refining your strategy

To ensure the effectiveness of your social media efforts, it is also important to track and measure the key metrics. Utilise tools like social media analytics to monitor engagement, reach, impressions, click-through rates, and conversions. Based on the insights gained, refine your social media strategy, experiment with different content formats, and optimise your campaigns for better results.

In today’s interconnected global economy, cross-border payments play a pivotal role in facilitating international trade and enabling seamless transactions between individuals and businesses worldwide. 

According to Juniper Research, the global spend on B2B cross-border payments is set to exceed $40 trillion by the end of 2024.

However, the complex nature of these transactions often presents challenges of trust and security risks. Whether it’s a large-scale business, a micro, small and medium enterprise (MSME), or a complex commercial agreement, the parties involved need reassurance that their funds and assets are protected until all conditions are met. This is where escrow services come into play. 

Escrow is a financial arrangement wherein a neutral third party, typically a bank or an escrow agent, holds funds or assets on behalf of two or more parties involved in a transaction. The funds or assets are held in a secure account until all the predetermined conditions of the transaction are met. Once the conditions are fulfilled, the escrow agent releases the funds or assets to the appropriate parties.

Need for a secure payment gateway

International trade plays a vital role in the success of MSMEs and startups, but these businesses often struggle with timely payments and smooth cross-border transactions.

According to the Global Alliance for Mass Entrepreneurship, delayed payments to Indian MSMEs amount to a staggering Rs 10.7 lakh crore, with 66% of invoices experiencing delays and 3% never being paid. This underscores the pressing need for innovative solutions to address the payment challenges faced by these entities. 

To alleviate these issues, India’s unified payments interface (UPI) can be leveraged for cross-border transactions. While UPI has enabled transactions with countries such as Singapore, Australia and Canada, there is a lack of transparency and protection in cross-border trade. Rectifying this is crucial to instil confidence in businesses and foster secure international transactions without the fear of default or fraud. 

In India’s thriving startup ecosystem, with 92,683 registered startups recognised by the Department for Promotion of Industry and Internal Trade, payment assurance and contract enforcement pose significant challenges.

The country’s low contract enforceability index and lengthy litigation processes hinder timely payments, necessitating effective solutions to support the growth and success of these emerging enterprises. Additionally, compliance with regulations and fraud prevention in cross-border transactions demand comprehensive tools and platforms to mitigate risks, ensure trade compliance, and safeguard against fraudulent activities.

Safe and seamless financial transactions

In the realm of international trade, the ability to receive payments in various currencies is essential. Escrow services act as trusted intermediaries, providing a secure framework for various types of transactions. They play a crucial role in mitigating risks, instilling confidence, and ensuring fairness in financial dealings. 

One of the primary advantages of using escrow services is the heightened security and protection they provide. By entrusting the funds or assets to a neutral third party, all parties involved can have peace of mind knowing that their interests are safeguarded. The escrow agent ensures that the terms and conditions of the transaction are met before releasing the funds, minimising the risk of fraud, default, or misappropriation.

Escrow services are particularly valuable in complex transactions that involve multiple parties and intricate conditions. These could include cross-border mergers, acquisitions, or joint ventures where significant sums of money or valuable assets are at stake. The escrow agent acts as a central hub, coordinating the transfer of funds or assets, verifying compliance with contractual obligations, and ensuring a smooth and fair process for all parties involved.

Moreover, trust is the foundation of any successful business relationship, and escrow services contribute to building that trust. By providing an impartial and transparent framework, escrow helps foster confidence among the parties, especially in cases where there may be cultural, legal, or language barriers. The presence of a trusted third party facilitates open communication, dispute resolution, and a sense of fairness, enhancing the overall credibility of the transaction.

Cross-border payments play a vital role in today’s globalised economy, facilitating international trade and enabling seamless financial transactions. However, ensuring transparency, safety, and security in cross-border payments has been a long-standing challenge.

The coming of escrow services serves as a prudent step towards mitigating risks and achieving smoother, more secure financial transactions in an increasingly interconnected world. With the use of escrow, exporting startups and MSMEs can confidently navigate the global marketplace, driving growth and success in their international trade endeavours.

(The author is Founder and Managing Director of Escrowpay, a digital escrow platform.)

Google recently made significant revisions to its privacy policy, empowering it to use public data for AI training, enhancing translation systems, text generation systems, and various cloud AI services.

Generative AI systems such as Google's Bard and OpenAI's ChatGPT are trained on vast amounts of data for analysing human queries and responses, and have certainly raised valid privacy concerns. While public posts and reviews are inherently accessible to anyone, the primary focus now revolves around how this information may be used, rather than who can access it. The legality of such data collection practices remains uncertain.

Web scraping, a technique employed by tech giants, has gained attention in discussions surrounding consumer data use and privacy. It is the process of using bots to extract content and data from a website. Elon Musk, among other prominent figures, has voiced concerns about web scraping, linking it to recent Twitter issues and system manipulation.

Also Read

Google launches seventh class for its startups accelerator programme

Safeguarding your data: Practical measures

If you have reservations about Google's updated privacy policy, there are steps you can take to protect your data and privacy:

Be mindful of what you share: Only make public posts and share information that you are comfortable with Google, or any other entity, accessing and utilising.

Utilise Google's privacy controls: Review your privacy settings within your Google account. Opt out of options like "Web & App Activity," "Location History," and "Voice & Audio Activity" to exert more control over your data.

Explore alternative services: Consider switching to alternative providers with stricter privacy policies for services like search (e.g., DuckDuckGo), email (e.g., ProtonMail), video sharing (e.g., Vimeo), and web browsing (e.g., Brave).

Enable private browsing: When using Google services, activate incognito or private browsing mode to minimize the collection of your browsing history.

Stay informed: Read and understand the privacy policies of websites, mobile apps, and other services before using them. Be cautious with platforms that explicitly share your data with Google.

Communicate your concerns: Contact Google directly to express any concerns or questions you may have regarding how your data is used to train their AI models.

As AI becomes more integrated, finding a delicate balance between technological advancements and safeguarding privacy will require concerted efforts from both tech companies and individuals.

Meta Founder and CEO Mark Zuckerberg has announced the launch of Threads, an app that enables users to share text updates and participate in public discussions, presenting a direct competition to Elon Musk-owned micro-blogging platform Twitter.

Originally scheduled for a July 6 release at 7:30 pm in India, the text-based conversation application surprised users by launching earlier today. It is now available in over 100 countries for both iOS and Android platforms, and can be downloaded from the Apple App Store and Google Play Store.

“Glad you're all here on day one. Let's build something great together!” Zuckerberg wrote in a thread. “The vision for Threads is to create an open and friendly public space for conversation. We hope to take what Instagram does best and create a new experience around text, ideas, and discussing what's on your mind.”

Similar to Instagram, Threads allows users to connect and follow friends as well as creators. This includes individuals they already follow on Instagram. It enables users to log in using their existing Instagram account, transferring their Instagram username and verification while providing the option to personalise their Threads profile.

For users under 16-years of age (or under 18 in specific countries), a private profile will be the default setting upon joining Threads. In addition, Meta said it will enforce Instagram’s Community Guidelines on content and interactions in the new app.

The text-based conversation app curates a user's feed with posts from followed accounts and recommended content from new creators. Each post can contain up to 500 characters along with links, photos, and videos up to 5 minutes long. Users can post their threads as an Instagram story or share on any other platform.

In Threads, users have control over mentions and replies, including the ability to filter out specific words. They can also manage profiles through actions like unfollowing, blocking, or reporting. Notably, any accounts blocked on Instagram will be automatically blocked on Threads as well.

According to Meta, Threads is being developed to be compatible with ActivityPub, the open social networking protocol created by the World Wide Web Consortium (W3C), which sets the standards for the modern web. This will enable Threads to seamlessly interact with other applications supporting the ActivityPub protocol, such as Mastodon and WordPress.

“We're committed to building support for ActivityPub, the protocol behind Mastodon, into this app. We weren't able to finish it for launch, given a number of complications that come along with a decentralised network, but it's coming,” Adam Mosseri, Head of Instagram, said in a thread.

In addition to making Threads compatible with ActivityPub, Meta plans to add new features like improved feed recommendations and a more powerful real-time search function for easier thread and creator discovery. It currently incorporates key accessibility features already available on Instagram, including screen reader support and AI-generated image descriptions.

Threads’ launch comes a few days after Musk announced temporary limits on Twitter accounts to “address extreme levels of data scraping and system manipulation”. These measures enforce specific daily reading limits: verified accounts are restricted to 6,000 posts, unverified accounts are limited to 600 posts, and new unverified accounts face a cap of 300 posts per day.

Although it is early to gauge user response, one Threads user posted, asking if “anyone thinks this can become bigger than Twitter!?”

In response, Zuckerberg said, “It'll take some time, but I think there should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this, but hasn't nailed it. Hopefully, we will.”

Hello,

Data protection FTW!

On Wednesday, the Union Cabinet approved a draft of the Digital Personal Data Protection (DPDP) Bill 2023 for tabling in the upcoming monsoon session of Parliament, which will be held from July 20 to August 11. 

The bill proposes to levy a penalty of up to Rs 250 crore on entities for every instance of violation and includes almost all the provisions of the last draft issued by the Ministry of Electronics and Information Technology for consultation.

In other news, the RBI is proposing new arrangements between card networks—such as Visa, MasterCard, and RuPay—and banks and NBFCs. The central bank has issued a draft circular proposing that customers should be given the option to choose their own card network, creating a level-playing field for companies.

Meanwhile, Pharmeasy is looking to raise Rs 2,400 crore ($290 million) at a 90% valuation markdown in order to repay a loan from Goldman Sachs, according to The Economic Times. The rights issue will be led by PharmEasy's existing shareholders TPG and Temasek. 

Additionally, a MoneyControl report stated that Manipal Group has expressed interest in investing Rs 1,800 crore for an 18% stake in API Holdings, the parent company of PharmEasy and Thyrocare.

ICYMI: Los Angeles-based tech company Co-Star has developed a machine, which uses ChatGPT to generate astrological readings. 

Crystal balls or AI? What are you banking your future on?

In today’s newsletter, we will talk about 

• Zepto’s ex-CFO launches VC fund
• Infosys to bridge Gen AI skills gap
• Helping unprivileged diabetic children

Here’s your trivia for today: Which tech multinational company began its journey as 'Cadabra'?

Venture capital 

Zepto ex-CFO Jitendra Nagpal's new VC firm

With a new venture capital firm, Capinity Partners, Jitendra Nagpal, the former chief financial officer (CFO) of quick commerce startup Zepto, has turned to fulfilling the financial needs of early-stage startups. Nagpal explains the firm’s investment philosophy. 

The playbook:

• Capinity Partners is expected to make the first close of its $30 million corpus fund by December 2023. 
• Incorporated in May, the VC firm is bullish on several sectors, including ecommerce, clean tech, consumer technology, and fintech.
• It will focus on investing in startups up to pre-Series A round, with a special focus on digital-first firms.

<Funding Alert>

Startup: GIVA 

Amount: Rs 270 Cr

Round: Series B

Startup: Freakins 

Amount: $4M

Round: Seed

Startup: ZuAI

Amount: Rs 4 Cr

Round: Seed

Technology 

Infosys Springboard to bridge Gen AI skills gap

Infosys Springboard, the learning and upskilling platform of IT services major Infosys, recently introduced the free AI/ML and Generative AI courses to bridge the skill gap and enable learners, especially engineering students, to become job ready. Thirumala Arohi, Senior Vice President and Head, Education, Training, and Assessment at Infosys, tells YourStory more. 

Be prepared:

• Courses offered by Infosys Springboard have been selected and created by experts in the field of technology and business at Infosys. 
• The training is accompanied by an AI Internship programme for 1,500 students in the first phase. The programme was rolled out in June this year.
• Arohi says it is important to also debunk the many myths about Gen AI and its implications, especially those laced with doomsday predictions.

Inspiration

Helping unprivileged diabetic children

Seeing her younger brother struggle with Type 1 diabetes pushed Divaa Uthkarsha to help children from underserved communities access proper care and medications like insulin. In 2021, she started Project Surya to enable adolescents across Bengaluru to manage Type 1 diabetes.

Key takeaways:

• Project Surya has extended its reach to more than 100 underprivileged children in Karnataka living with diabetes. 
• The project has raised Rs 1,50,000 so far. It also conducted a fundraiser midnight marathon in Bengaluru, which was attended by 8,000 people. 
• For her initiative, Uthkarsha recently received The Diana Award. Established in memory of Diana, Princess of Wales, The Diana Award is the most prestigious accolade a young person aged 9-25 years can receive for their social action or humanitarian work.

News & updates

• Kick off: Saudi Arabia plans to launch a multibillion-dollar investment company to expand its sports interests following its power grab in golf and success in English football. The sports group, which will be part of the kingdom’s sovereign wealth fund, will have a war chest to fund its expansion.
• Long shot: Dozens of robots, including several humanoid ones, will take centre stage at a conference organised by the U.N. technology agency in Switzerland this week to showcase their potential to help it reach a series of increasingly improbable global goals.
• Probed: Binance’s offices in Australia were searched by the country’s financial markets regulator as governments turn up the heat on the biggest cryptocurrency exchange. The Australian Securities and Investments Commission conducted searches at several of the company’s locations on Tuesday.

What you should watch out for

• Launch of Instagram Threads, Meta’s take on Twitter.
• Adani Green Energy board to discuss plans for funds.

Which tech multinational company began its journey as 'Cadabra'?

Answer: Amazon

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Jitendra Nagpal, the former chief financial officer (CFO) of quick commerce startup Zepto, has now turned to fulfilling the financial needs of early-stage startups. He is pioneering a new venture capital firm, Capinity Partners, which is targeting a first close by the end of this year, Nagpal tells YourStory.

Capinity Partners will focus on investing in startups up to pre-Series A round, with a special focus on digital-first firms.

Nagpal is joined by two veterans of the finance and banking fields—Tarun Bhargava and Vikas Somani. 

Bhargava is the Founder and Managing Partner at TalentGen Advisory LLP, and a prominent angel investor in several startups including UrbanPiper, Pixxel, Mokobara, and Garuda Aerospace. Somani is the CFO at Ovik Finance and has several years of experience in the field of banking, including overseeing MSME loans in ICICI Bank and IndusInd Bank, among others.

Both Bhargava and Somani will join Nagpal as partners in Mumbai-based Capinity Partners. At present, it has nearly 10 associates working closely with the partners.

Nagpal managed Y Combinator-backed Zepto’s financial operations for nearly three years. Prior to that, he held top positions in the finance divisions of dairy startup Country Delight and e-pharmacy firm PharmEasy.

“I knew early on that I wanted to build something to fuel capital needs for startups,” Nagpal says. Through his extensive experience working in startups, he realised that often there is a mismatch between founders and investors on vision and mentorship, which must be bridged.

Believing in being a “catalyst to entrepreneurial success,” Capinity Partners is expected to make the first close of its $30 million corpus fund by December 2023. The fund will be sector agnostic, Nagpal adds, noting that its investment thesis comprises three core conditions.

One, the startup should be looking to serve a “large enough” total addressable market. Two, it should be capable of achieving positive unit economics quickly (without burning cash heavily). Three, it must provide a good return on capital employed and free cash flow.

Incorporated in May this year, the VC firm is bullish on several sectors, including ecommerce, clean tech, consumer technology, and fintech.

“I am very clear that Capinity will not be investing in any startup that is building products or services for the cream of the population as it is very hard to grow business in most cases,” Nagpal tells YourStory. Instead, the investment firm will keep its eye out for digital-first startups serving people who shop online and have a reasonable disposable income.

Capinity has already invested pre-seed and seed money in four startups, says the Co-founder and Partner of the VC firm, without divulging names.  

Meanwhile, Nagpal, Somani, and Bhargava are spending time mentoring startup founders on product development, perfecting go-to-market strategies, shaping revenue models, and pitching coherently to investors. So far, it has guided about 10 Indian startups.

“We call this an incubator programme, internally. We started advising last year alongside building Capinity to understand the pain points of founders and the ecosystem,” Nagpal said.

Also Read

As financial irregularities shake the startup ecosystem, investors rush to set the house in order

Tough market

According to YourStory’s research, about $10 billion has been raised by leading venture capital (VC) funds from 2022 till now. The slow deployment of funds and the increased timeline for closing deals are likely to impact founders adversely.

However, Capinity believes it is the right time for early-stage startups to thrive. 

“Even for investors, it is a favourable environment to advise and invest in fundamentally strong product organisations,” Co-founder and Partner Bhargava tells YourStory, adding that firms can scale and grow tremendously with global support once the funding inflow improves.

To this end, Capinity has roped in limited partners (LP) from around the world, including the Middle East and Europe. “Investors in these regions continue to be optimistic about India and have pegged high hopes on its growth potential,” Nagpal adds.

With extensive experience in investing across stages, the partners will help founders gain additional runway with lower dilution, given the current macroeconomic scenario where valuation multiples are depressed, Co-founder and Partner Somani notes.

Sectors such as e-mobility, deeptech, and generative artificial intelligence (AI) have global scope as well, the partners add.

Climate-focused fund

Capinity is also building its second fund focused on clean tech and climate startups. Likely to be announced in the next 15 months, the new fund will have a corpus of $100-200 million.

“The nuances of the climate fund are still under discussion. We are hoping to drive a wave of clean tech startups in India through this fund,” Nagpal adds.

Life is a fascinating journey filled with twists, turns, and unexpected challenges. As Albert Einstein famously said, "Life is like riding a bicycle. To keep your balance, you must keep moving." This profound quote encapsulates the essence of life's dynamics, emphasizing the importance of perpetual progress and adaptability. In this article, we will explore the deeper meaning behind this quote and how it can inspire us to lead more fulfilling and balanced lives.

Embracing the Rhythm of Life

Life is akin to riding a bicycle, where the path is not always smooth, and balance is critical to avoid stumbling. Just as a cyclist must pedal to maintain balance and momentum, we too must keep moving forward despite obstacles. Each phase of life brings unique challenges and opportunities, and only through continuous movement can we adapt and grow.

Perseverance in the Face of Adversity

Like a cyclist facing a steep incline or rough terrain, life throws challenges our way. These obstacles can be daunting, but the key to overcoming them lies in our determination to keep moving. By persisting through difficulties, we develop resilience and inner strength. Every challenge conquered becomes a stepping stone towards personal growth and success.

The Art of Balancing Priorities

In the fast-paced modern world, juggling various aspects of life can feel overwhelming. From career demands to personal relationships and self-care, finding balance can seem like an elusive task. However, just as a skilled cyclist maintains equilibrium, we must prioritize and manage our responsibilities effectively. Balancing work, family, and leisure time ensures that no single aspect of life dominates, leading to a more harmonious existence.

Embracing Change and Adaptability

Life is a constant evolution, much like a bicycle ride on an ever-changing landscape. To maintain balance, we must be willing to adapt to new circumstances and embrace change. Resisting change may lead to stagnation, hindering personal development and limiting our potential. Embracing change opens doors to exciting opportunities and allows us to discover uncharted territories of life.

Staying in the Present Moment

In the midst of our fast-paced lives, it is easy to get caught up in worries about the future or regrets from the past. However, true balance is found in the present moment. Like a cyclist focusing on the road ahead, we must live mindfully, savoring each moment as it comes. Mindfulness helps us appreciate life's beauty and enables us to make more conscious decisions, contributing to a more balanced and fulfilling existence.

Cultivating a Positive Mindset

A positive mindset acts as a reliable compass, guiding us towards balance and contentment. Just as a cyclist's confidence affects their performance, our thoughts shape our reality. By fostering optimism and gratitude, we can navigate through life's challenges with a greater sense of equanimity and happiness.

Albert Einstein's analogy comparing life to riding a bicycle resonates deeply with the human experience. It reminds us that maintaining balance is not an inherent gift but a continuous effort requiring movement, adaptability, and perseverance. Embrace life's journey with determination, stay present, and cultivate a positive mindset. Remember, life is like a bicycle ride, and by keeping our wheels in motion, we discover the true essence of balance and fulfillment.