Skyroot's Vikram-1🚀, Meta's Ad Revenue Soar📈
Government's OTT Sandbox, IT Giants' Strategies, Mamaearth's IPO Buzz, Funding Deal and more.
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Skyroot Aerospace Unveils Vikram-1 Rocket for Satellite Launches🚀
Indian space startup Skyroot Aerospace has revealed its Vikram-1 rocket, designed to launch satellites into low earth orbit. The indigenously developed rocket is set to commence satellite delivery missions in the early part of the following year. The announcement was made during the inauguration of Skyroot Aerospace's new headquarters, 'The MAX-Q Campus', located in the GMR Aerospace and Industrial Park in South Hyderabad. 🛰️
Government Introduces Regulatory Sandbox for OTT Communication Apps📺
The Indian government has introduced a regulatory sandbox for over-the-top (OTT) communication apps, enabling both existing and new applications to test features in a controlled environment before their full-scale release.📱✨
What is a sandbox?
A sandbox is an isolated testing environment that enables users to run programs or open files without affecting the application, system, or platform on which they run. Software developers use sandboxes to test new programming code. Cybersecurity professionals use sandboxes to test potentially malicious software.
Indian IT Giants Focus on Margin Enhancement Amid Market Challenges👩🏻💻
Amidst market challenges and limited revenue expansion opportunities, major Indian IT companies like TCS, Infosys, HCLTech, and Wipro are intensifying efforts to boost their operating margins. By prioritizing profitability, these firms aim to navigate the stagnant market conditions and strengthen their financial positions. 💼📈
Mamaearth's IPO to Commence on October 31🌎
Honasa Consumer Ltd, the parent company of Mamaearth, is set to kick off its initial public offering (IPO) on October 31. The IPO will involve the issuance of fresh shares worth Rs 365 crore and an offer for sale (OFS) of 41.25 million shares. 📊
Meta India's Gross Ad Revenue Reaches Rs 18,300 Crore in FY23📱
Facebook India Online Services, the Indian subsidiary of Meta, reported a significant increase in gross ad revenue, reaching Rs 18,308 crore for the fiscal year ending on March 31, 2023. 💰
Inc.5 Shoes, a legacy footwear brand with 25 years of market presence, has raised $10 million in its Series A round led by Carpediem Capital. The round also saw participation from public market investors Param Capital and P3 Venture Fund (Sureka Family Office).
Tweet of the day🐥
“You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time.”
– Charlie Munger
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