PM launches 3 Supercomputers🖥️
OpenAI’s CTO Mira Murati resigns, WeWork’s India Exit Deal Falls, India toped the APAC totaling $12.2 billion in the first eight months, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
“Whenever you find yourself doubting how far you can go, just remember how far you have come.”
Today’s quote is a powerful reminder that during moments of doubt, reflecting on the progress you've already made can renew your strength and inspire you to keep going.
Looking back at the progress, growth, and obstacles already overcome can provide the confidence and motivation needed to continue pushing forward.
Tech Updates
Prime Minister Narendra Modi launched 3 Param Rudra Super Computing Systems and a High-Performance Computing (HPC) system
PARAM Rudra is engineered for high-speed computation and simulation, facilitating research across multiple domains, including weather forecasting, climate modeling, chemical discovery, materials science, and artificial intelligence. This advanced system will empower researchers to tackle complex challenges and achieve groundbreaking discoveries.
Microsoft-backed OpenAI’s CTO Mira Murati resigns amid wave of executive departures
Mira Murati, Chief Technology Officer at Microsoft-backed OpenAI, has announced her departure from the artificial intelligence startup, marking the latest in a series of executive exits this year. Murati, who played a key role in OpenAI’s advancements, shared the news via a post on X (formerly Twitter), stating her desire to "create the time and space to do [her] own exploration."
WeWork’s India Exit Deal Falls Through Amid Sector Revival
US-based coworking major WeWork Inc’s plan to sell the entire 27% stake in its Indian unit and exit the country has reportedly collapsed, months after the Competition Commission of India (CCI) approved the proposal. WeWork Inc. currently holds 27% ownership in its Indian unit. Meanwhile, the remaining 73% is owned by Bengaluru-based real estate company Embassy Group. It is pertinent to note that OAW holds the shares on behalf of WeWork International.
822 IPOs globally aimed to raise $65bn till August; India tops APAC tally
Primary market, it seems, is not only luring investors back home but also globally. A recent report by GlobalData, a London-based data analytics firm suggests that 822 Initial Public Offers (IPO) aimed to raise $65 billion in the first eight months of calendar year 2024 (CY24) till August. This is a 17.4 per cent jump from 2023 when 1,564 listings during the same period planned to mop up $55.4 billion via this route.
Funding Deals
SATYA Micro Capital Limited has raised Rs 1000 Mn from Mizuho Bank Ltd. which is a subsidiary of Mizuho Financial Group, Inc. Expanding its lender base, it is for the very first time that SATYA has been backed by Mizuho Bank.
Cloud kitchen startup Curefoods has raised another $9.6 million in debt from Binny Bansal and Jitender Kumar Bansal. This is the second fundraiser for the Bengaluru-based company in the past six months.
Climate financing platform Two Point O Capital has raised $6.3 million in its seed round led by Omnivore, with participation from Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and a group of marquee angels.
Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian.
🏃♀️ Short Story: The Runner's Reflection
Lena, a marathon runner, found herself hitting a wall during a particularly grueling training session. Doubts flooded her mind—she questioned whether she had what it took to complete the upcoming race. Exhausted, she was ready to quit.
But as she stopped to rest, she reflected on the journey that led her there: all the miles she had already run, the early mornings, the strength she had gained.
Realizing how far she had come reignited her spirit, and she continued the training session with newfound determination. A few weeks later, Lena crossed the marathon finish line, proud of the journey that made her stronger.
Tweet of the day🐥
As you close out your week, take a moment to reflect on your own progress. When self-doubt creeps in, let your past accomplishments remind you of your strength and resilience.
Rise & Shine encourages you to draw power from your journey and use it to fuel your path forward.
Have a reflective and empowering Friday!
Thanks for reading till the end!