Ola Unveils EVs, AI Chips, and Q-Comm🎉
ISRO's third launch, India 14th in AI research, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"A gem cannot be polished without friction, nor a man perfected without trials."
— Seneca
Today, Seneca’s wisdom reminds us that growth and refinement are often born from challenges and hardships.
Just as a rough gem must undergo friction to reveal its brilliance, we too must face and overcome challenges to realize our full potential.
Tech Updates
Ola Unveils EVs, AI Chips, and Quick Commerce Revolution
On Independence Day, Ola unveiled a series of groundbreaking innovations across its companies, covering electric vehicles, quick commerce, and AI technology. Ola Electric introduced its first electric motorcycle range, the Roadster, during its annual 'Sankalp' event. Meanwhile, Ola Cabs rebranded to Ola Consumer and launched fully automated dark stores for sellers on the ONDC platform, signaling a major move into quick commerce. Additionally, sister company Krutrim AI announced plans to release their in-house AI chip, Bodhi 1, by 2026, with a more advanced Bodhi 2 chip expected by 2028.
Shares of Ola Electric Mobility continued their upward momentum following their market debut. In today's early morning trade, the stock surged by 16%, reaching ₹128.30 per share.
ISRO launches third SSLV carrying Earth Observation Satellite from Sriharikota
The Indian Space Research Organisation (ISRO) Friday morning successfully launched the third development flight — the last one it is authorised to undertake — of the small satellite launch vehicle (SSLV). The vehicle is carrying the 175-kg earth observation satellite EOS-08 on board, according to the space agency.
India 14th in AI research with just 1.4% share of papers: study
All the excitement over the seemingly limitless possibilities of artificial intelligence, thousands of AI startups and the country's massive pool of technology talent notwithstanding, India ranks far below the US and China in AI research. The country stands 14th in AI research with a global share of just 1.4% (2018-2023) in terms of paper contribution in the top 10 AI conferences in the world.
Funding Deals
Compostable food packaging solution manufacturer Pakka Limited has raised Rs 244.7 crore to ramp up its R&D efforts and scale its production facility.
Mumbai-based venture capital firm 35North Ventures has raised Rs 100 crore in the first phase of its newly launched CAT-I alternative investment fund (AIF), India Discovery Fund II.
🖼️ Short Story: The Resilient Artist
Elena, an aspiring painter, faced numerous rejections from galleries, each one a blow to her confidence. Instead of succumbing to disappointment, she used the feedback as a catalyst for improvement.
With each rejection, she refined her technique, deepened her understanding of art, and strengthened her resolve.
Her persistence paid off when a prestigious gallery recognized her talent and offered her a solo exhibition.
The trials Elena faced were instrumental in her journey, polishing her skills and fortifying her spirit, much like the gem that shines brighter with each facet cut.
Tweet of the day🐥
As you wrap up your week, embrace the trials you encounter as opportunities for growth. The friction you experience today is polishing you for tomorrow.
Rise & Shine is here to support and inspire you through each challenge, encouraging you to see adversity as a necessary part of your journey toward excellence.
Have a resilient and growth-filled Friday!
Thanks for reading till the end!