RBI Unveils Fintech Regulatory Draft ⚖️
Pixxel's Bengaluru Hub, Quantum Computing Boost, Udaan's Valuation Shift, and Funding Updates. Ignite the flames of progress.
Hello, Champions of Progress!
In today's Rise & Shine edition, we delve into the spirited philosophy of Epictetus.
"Devote the rest of your life to making progress."
Picture a life where each day is a canvas for progress, and every step forward is a victory.
Join us as we explore the transformative power of dedicating the rest of your life to continual growth.
Get ready to ignite the flames of progress and embark on a journey that transcends boundaries.
RBI issues draft framework for fintech self-regulatory bodies
The Reserve Bank of India (RBI) has issued a draft framework for self-regulatory organisations focused on the fintech sector (SRO-FT). The guidelines are meant to empower the fledgling sector to function and innovate responsibly, even without formal regulations.
Spacetech startup Pixxel launches manufacturing facility in Bengaluru
Spacetech startup Pixxel inaugurated its multi-million dollar manufacturing facility MegaPixxel in Bengaluru on Monday. Pixxel chief executive Awais Ahmed said that the facility has a ‘clean’ room and testing area spread across 30,000 square feet. It can be used to build up to 25 satellites of 100 kilograms each simultaneously.
Govt may allot Rs 10,000 crore for quantum computing centres in PPP Mode
The government will likely allot up to Rs 10,000 crore for setting up supercomputing and quantum computing hubs in collaboration with private industry under public-private partnerships. An announcement on this is likely to be made during the Global Artificial Intelligence Summit and Awards scheduled on January 18 and 19 in New Delhi.
Udaan valuation dives to $1.8 billion in down round
B2B ecommerce platform Udaan has seen a significant fall in valuation during its recently concluded funding. Udaan’s valuation has fallen by nearly half to around $1.8 billion in a down round, marking one of the most precipitous drops for a startup that has raised over $1 billion. It was last valued at $3.2 billion almost three years ago.
Wow! Momo Foods has raised Rs 350 crore from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia.
Venture debt fund Alteria Capital has infused ₹120 crore in mobile-first credit card startup OneCard's parent company FPL Technologies.
Kisankonnect, a fully integrated fresh produce agritech startup, has raised Rs 31 crore (approximately $3.75 million) in a pre-series A round led by climate tech-focused fund Green Frontier Capital (GFC).
The round also saw participation from Dhanuka Agritech Limited, a leading crop protection company in India, along with VC Grid and other family offices.
Short Story: The Odyssey of Progress
In a bustling city, an entrepreneur named Alex embraced Epictetus' wisdom, "Devote the rest of your life to making progress."
Alex, driven by a passion for innovation, embarked on an odyssey of progress, transforming setbacks into stepping stones.
Inspired by Alex's relentless pursuit, the community began to see that the path to success was not a straight line but a series of purposeful strides toward a better tomorrow.
Tweet of the day🐥
As we wrap up this edition, anticipate tomorrow's exploration into the philosophy that "it does not matter what you bear, but how you bear it."
Stay tuned for a fresh perspective that promises to empower you to face life's challenges with resilience and grace.
Thank you for being part of our community, where we champion the spirit of progress together.
Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!
Thanks for reading till the end!