National Quantum Mission💸, HCLTech revenue📈, Musk's Starship explodes💥
National Quantum Mission💸, HCLTech revenue📈, Musk's Starship explodes💥
National Quantum Mission approved, HCLTech revenue races past ₹1 trillion, Starship explodes during the test flight, Funding Deals and more.
Hey folks! 👋🏻
Start your day, the smart way!
1 Mail | 2 Mins | 3 Stories
Today, we are covering:
Centre greenlights Rs 6,000 crore National Quantum Mission
HCLTech revenue races past ₹1 trillion milestone in FY23
Elon Musk's Starship explodes during the test flight
Funding Deals
Centre greenlights Rs 6,000 crore National Quantum Mission💪🏻
The National Quantum Mission, approved by the government on Wednesday, will scale up scientific and industrial research, and development of quantum technology and bolster India’s technological prowess.
The National Quantum Mission, approved at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, will accelerate quantum technology-led economic growth. The mission has an outlay of Rs 6,003.65 crore, from 2023-24 to 2030-31.
“The National Quantum Mission will make India the sixth country to have a dedicated quantum mission after the US, Austria, Finland, France, and China,” Science and technology minister Jitendra Singh told reporters in New Delhi.
Quantum is 3rd pillar of 3 emerging areas of Semiconductors, AI and Quantum - Rajeev Chandrashekhar
HCLTech revenue races past ₹1 trillion milestone in FY23📈
Large-cap information technology services firm HCLTech on Thursday said its rupee revenue breached the ₹1-trillion mark for the first time in a financial year, buoyed by the highest-ever active large deals, resilient client spending in Europe, and strong financial performance across verticals such as telecom, technology and services, and manufacturing.
While FY23 revenue was at a record high, the rupee revenue for the March quarter declined 0.4%, sequentially, and 17.7% from a year ago to ₹26,606 crores.
Q4 net profit fell 2.8% sequentially but rose 10.8% from a year earlier to ₹3,983 crores.
For FY23, rupee revenue grew 18.5% over FY22 to ₹1.01 trillion and net profit was up 10% to ₹14,851 crore.
Elon Musk's Starship explodes during the test flight💥
Despite the most powerful rocket ever built by SpaceX - Starship - exploded during its first flight on Thursday, Elon Musk congratulated the team and said that the next Starship test would be in a few months.
The rocket, which carried no people or satellites, was aimed to send the nearly 400-foot (120-meter) Starship rocket on a round-the-world trip from the southern tip of Texas.
However, the booster that was to peel away from the spacecraft minutes after liftoff, didn't peel and eventually led to exploded four minutes into the flight, plummeting into the gulf.
Despite the failure to complete the full flight test, SpaceX declared it a success. "We cleared the tower which was our only hope," said Kate Tice, a SpaceX quality systems engineer.
Funding Deals💰
Heart-centered healthtech startup Tricog Health has raised $8.5 million in its Series B2 round from Omron Health Care and Sony Innovation Fund, among other investors.
Mesa School of Business has raised Rs 34 crore from Elevation Capital and notable angel investors such as Kunal Shah (Cred), Vidit Aatrey (Meesho), Abhiraj Bahl, and others.
Artificial intelligence solution Cognecto has secured an investment of Rs 4 crore in a seed round led by Inflection Point Ventures.
Tweet of the day🐥
What else?
🚚 Delhivery’s ecommerce shipments market share slips to 21% in FY23
💸 OpenAI, Google may start paying Reddit soon
"Don't let it break you. No matter how hard it gets, life goes on."
Thanks for reading till the end!