Deconstruct Battery Swap
We are only one week away from TechSparks 2022!
The 13th edition of India’s largest and most influential startup technology conference will be launched by Nirmala Sitharaman, Union Minister of Finance and Trade Affairs, Government of India.
Other exciting things to look forward to at TechSparks 2022, which is offline this year, include a conversation with Tony Fadell, the creator of the iPod and co-creator of the iPhone, a chance to meet India’s top designers and… attend the unveiling of the Tech30 cohort for 2022. Click here to learn more.
In other news, sweets and savory food maker Bikaji Foods International Ltd raised Rs 262 crore when it opened for public auction on Thursday.
ICMYI: Ajit Mohan, country manager of Meta (formerly Facebook) in India, left the company to join Snap. At Snap, Mohan will serve as president of the company’s APAC business.
And, here’s something to ponder over your next cup of coffee. Aston University scientists have produced high-quality biodiesel microalgae fed with leftover coffee. The research could potentially decrease the logging of palm trees, which is currently used to extract oil to produce biofuel.
In today’s newsletter we will talk about
- Deconstruct Battery Swap
- Bringing technology to the seas
- Why the Middle East is the next frontier for content-driven commerce
Here’s your quiz for today: before becoming the iconic Grand Theft Auto, what was the original GTA called?
Deconstruct Battery Swap
The battery swap promises to revive the electric vehicle (EV) market in India by alleviating range anxiety and lowering the cost of ownership. Local startups and Taiwanese players have shown interest in this segment. However, battery swapping in India has several hurdles in its path.
Powering electric vehicles:
- Battery swapping is fast (a few minutes/seconds) and customers no longer have to play the waiting game.
- Finance Minister Nirmala Sitharaman in her budget this year announced that the government would introduce a battery swapping policy with interoperability standards.
- The technology could reduce the costs of electric vehicles. With battery exchange, customers have the option of purchasing an electric vehicle without a battery; they can opt for an exchange subscription and charge an exchangeable battery in the vehicle.
Startup: The Sleep Company
Amount: $21.3 million
Startup: Cash Karo
Amount: Rs 130 Cr
Tower: Series C
Amount: Rs 100 Cr
Round: Series A
Bringing technology to the seas
Singapore-based maritime logistics tech start-up, Smart Ship Hub, is working on technology that will allow ships to connect with each other and share information. This will help optimize capacity, routes and purchases, creating a “shared economy” in maritime logistics.
- The company was established in 2019 by Joy Basu and Captain Harminder to solve problems in the maritime industry.
- Smart Ship Hub’s digital platform allows ship owners, ship operators and charter companies to access a wealth of information such as vessel status, machinery status, cargo, ETA assessment and possible delays due to weather conditions.
- According to a UNCTAD report, approximately 80% of world trade by volume and more than 70% of world trade by value is carried by sea and handled by ports around the world.
Why the Middle East is the next frontier for content-driven commerce
Founded in 2016 by Saurabh Singh, Rahul Jain, and Nagendra Sandra, Flickstree uses voiceover and AI scripting to automatically generate branded video content. These videos are distributed through its own apps and websites such as PlusYou Club and a network of over 150 publisher partners. The founders are looking to the Middle East to fuel its next phase of growth.
Key points to remember:
- Flickstree currently has an active customer base in India, the Middle East, South East Asia, UK, Australia and USA.
- Earlier in October, it raised $5 million in a pre-Series B funding round led by Venture Catalysts.
- India accounts for 30% of the company’s revenue, with the remaining 70% coming from the US, UK and the Middle East.
- Crypto Advocacy Group: Major crypto firms, including Coinbase and Polygon, are among companies that have formed an industry body in India to promote dialogue among key stakeholders and raise awareness of Web3, months after the dissolution of the largest local crypto advocacy group.
- The Great Rail Hack: A major outage in Denmark’s rail network over the weekend was the result of a hacker attack on an IT contractor’s software testing environment, the operator said on Thursday Danish railway DSB.
- Layoffs: Stripe announced that it was laying off 14% of its employees, which would affect approximately 1,120 of the fintech giant’s 8,000 employees.
- A vaccine: U.S. drugmaker Pfizer Inc and its German partner BioNTech SE have launched a preliminary study to evaluate a combination vaccine targeting COVID-19 and influenza, the companies announced Thursday.
What you should pay attention to
- Presentation of SoftBank Corp’s results for the second quarter of fiscal 2022
- The Food and Agriculture Organization of the United Nations will publish its monthly index of world food prices.
Before becoming the iconic Grand Theft Auto, what was the original GTA called?
Answer: Race’n’Chase. The first Grand Theft Auto was originally intended to be a fast-paced, racing-centric cops and robbers multiplayer game.
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