ISRO to launch India's first privately built rocket today🚀; Govt set aside ₹1000 Cr💾; Zuckerberg on next wave of sales growth📈
Vikram-S is India's first privately developed rocket, Government earmarks Rs 1000 Cr, WhatsApp and Messenger to drive next wave of sales growth, Funding deals and more.
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ISRO to launch India's first privately built rocket today🚀
Indian Space Research Organisation (ISRO) on Friday will be launching the country’s first privately built rocket from its spaceport in Sriharikota, about 115 km from Chennai.
Vikaram-S is India's first privately developed rocket which is set to soar today.
Decks have been cleared for the four-year-old startup Skyroot Aerospace to make the maiden launch of its Vikram-S rocket, marking the foray of the private sector into the country's space industry, dominated by the state-run ISRO for decades.
Skyroot Aerospace has become the first private company in India to give wings to the Indian space program after the sector was opened to private players by the Centre in 2020.
The lift-off of the first Vikram-S rocket has been scheduled for 11.30 am today.
Government earmarks Rs 1,000 crore to fund chip design startups💾
The government is planning to fund semiconductor design in India and has set aside a fund of Rs 1,000 crore to this end, said IT minister Rajeev Chandrashekhar, while speaking at the 25th edition of the Bengaluru Tech Summit.
The minister also said that the government wants the next generation of devices and products to be designed and architected in India.
This comes as the government is working with companies to set up semiconductor plants as part of the India Semiconductor Mission.
Hot Shorts⚡
Chargeup, a battery swapping network for electric two- and three-wheelers, has raised $7 million in a pre-Series A1 round led by Capital-A and Anicut Capital along with other investors such as Ekta Kapoor, Sunil Kalra, and Sachin Mehra.
Online furniture rental platform Cityfurnish has raised a $2.5 million financing round led by Northern Arc Capital along with participation from Western Capital and UC Capital.
Unified user research platform Betafi has raised $1.3 million in pre-seed funding led by Together Fund, Entrepreneur First, and Titan Capital, along with participation of Nir Eyal and founders from companies like Razorpay, Pine Labs, Snapdeal, Livspace and others.
Online alternate fuel marketplace Buyofuel has raised over ₹11.5 crores in a Pre-Series A round led by Inflection Point Ventures (IPV).
WhatsApp and Messenger to drive next wave of sales growth: Mark Zuckerberg💭
WhatsApp and Messenger would drive the company's next wave of sales growth, Meta Platforms Inc Chief Executive Mark Zuckerberg told employees as he sought to assuage concerns about Meta's finances after its first mass layoffs.
On Wednesday, the company announced that it will let go of 13 percent of its workforce, or more than 11,000 employees, as part of a plan to reduce costs at the social media platform. Zuckerberg said that he is ‘sorry’ and took accountability for these decisions. Meta's job reductions will be the first in the company's 18-year history.
"We talk a lot about the very long-term opportunities like the metaverse, but the reality is that business messaging is probably going to be the next major pillar of our business as we work to monetize WhatsApp and Messenger more," he said.
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✈️ Recession fears prompt Indian executives in the US to dial HR firms in India
👩🏻💻 Mass layoffs at Amazon's office will extend into next year: CEO Andy Jassy
"Never let the fear of striking out keep you from playing the game."
– Babe Ruth
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