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VIE Stories
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Semiconductor Industry in India
- India's semiconductor industry is growing rapidly as the government aims to make it a global hub for chip manufacturing and design, with it's domestic market size being a major draw for many firms.
- The Indian government has also taken lots of initiatives which includes 'Make in India' and 'Production Linked Incentive (PLI)' to encourage entrepreneurs and investors.
- Factors that favour India as a major player in the semiconductor industry include a cost advantage with labour costs being lower than in developed countries, an efficient supply chain and the emerging ecosystem with skilled workforces.
- India leads globally with a significant number of science, technology, engineering and mathematics (STEM) graduates, essential for semiconductor manufacturing, design, research, and development.
- The country's semiconductor market was valued at US$ 26.3 billion in 2022 and is expected to reach US$ 271.9 billion by 2032, by growing at a CAGR of 26.3%.
- India emerged as a preferred destination for back-end assembly and testing operations amid the industry's relocation. India's involvement in the front-end manufacturing process is also expected to increase and it's stable political environment and large domestic market makes it attractive for technology companies.
- The Indian government has established the India Semiconductor Mission (ISM) and is aimed at fostering a robust semiconductor and display ecosystem, to make India a key player in the semiconductor manufacturing.
- Several domestic and international bodies, like Tata Electronics have made significant investments in the Indian semiconductor industry, highlighting India's potential as a global center for semiconductor production and giving it an advantage in attracting more investments.
- In conclusion, India has lots of potential in the semiconductor industry with growing investments supported by ongoing government backing and policies.
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VIE Stories
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[Funding News] Primus Senior Living Raises $20 Million in Funding Led by General Catalyst and Gruhas
- Primus Senior Living, an eldercare firm, raised $20 million in venture funding, with General Catalyst providing $7 million. Gruhas, co-founded by Zerodha co-founder Nikhil Kamath and Puzzolana Group’s Abhijeet Pai, invested the remaining $13 million.
- Primus Senior Living offers home-based healthcare, wellness, lifestyle, and social interaction services to seniors. The company runs 500 homes in Bengaluru and plans to expand its services to other cities with the new funding.
- Adarsh Narahari, the creator of Primus Senior Living, emphasizes the need for comprehensive eldercare solutions in India. General Catalyst's investment marks their first significant investment in India's eldercare sector.
- Investor interest in the eldercare sector is evident with recent investments in Age Care Labs, Kites Senior Care, and Khyaal.
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Yourstory
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Tetr College of Business launches $10M fund for student entrepreneurs
- Tetr College of Business launches $10M fund called 'Tetr - Under 20' for student entrepreneurs.
- The fund aims to support a minimum of 20 innovative ideas in areas such as AI, emerging technologies, and sustainability.
- Selected students will receive mentorship, facilities, and industry connections through Tetr's global incubation network.
- Investors will receive equity in the startups, and a portion of the fund is specifically allocated for startups founded by Tetr's students.
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Startupreporter
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Dr. Annie Stanley Thakore- A Visionary Leader’s Journey to Success
- Dr. Annie Stanley Thakore, Group CEO of Pranaam Hospitals, is a visionary leader in the healthcare sector with extensive qualifications.
- Under her dynamic leadership, Pranaam Hospitals has flourished, expanding its services and maintaining a commitment to patient-centered care.
- She has implemented world-class healthcare practices and policies, resulting in strategic collaborations and continuous growth.
- Dr. Annie Stanley Thakore remains committed to advancing healthcare quality and shaping the future of healthcare delivery in India.
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VIE Stories
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Zerodha establishes $1-million annual open source software fund
- Zerodha, a stockbroking platform, has established a $1 million annual fund for Free/Libre and Open Source Software (FOSS/FLOSS) organizations.
- The fund aims to provide financial assistance to FOSS projects globally, with an initial commitment of $1 million.
- Zerodha has been utilizing FOSS stack for a long time to develop financial technology products and services.
- The company plans to allocate $10,000 to $100,000 to various projects and may increase the funding in the future.
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Yourstory
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Amazon, Starlink execs caution government on spectrum pricing, regulations
- The pricing of air frequencies used by satellite companies have snowballed into a full-blown battle in India, with billionaires Mukesh Ambani and Sunil Bharti Mittal on one side and Elon Musk and Jeff Bezos on the other.
- Airtel Chairperson Sunil Bharti Mittal said that satellite companies should buy spectrum in the same manner as mobile network operators if they go after the urban, well-off subscribers.
- Reliance Jio has been strongly opposing the government’s move to assign spectrum to satellite communication companies without auction while Bharti Group, has pressed for administrative allocation of satellite spectrum.
- If the government prices the airwaves used for satellite communication services higher, the satellite communication companies will be compelled to go after the urban and connected subscribers.
- On spectrum pricing, the universal model that administrations are adopting is a cost recovery model. Citing ITU data, Amazon Kuiper business head said there is a need for $488 billion to connect and bridge the digital divide.
- David Goldman, Head, Satellite Policy, SpaceX, who was one of the panelists at the IMC session, said that satellite spectrum is a shared resource, and thus it can’t be auctioned.
- Goldman cautioned the government that for satellite operators to succeed, it is important for the government and the regulator to encourage operators to coordinate spectrum usage.
- Goldman said Starlink has launched a new service, direct to cell (D2C), wherein the mobile users can connect with satellites in case they go out of mobile network coverage area.
- The company doesn’t offer direct to cell services on its own. Starlink partners with a telecom service provider to offer the service.
- As of now, the direct to cell service only allows text messaging, WhatsApp, and voice.
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Inc42
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AGNIT Semiconductors Nets $3.5 Mn Led By 3one4 Capital
- Bengaluru-based AGNIT Semiconductors has raised $3.5 Mn in a seed funding round led by 3one4 Capital and Zephyr Peacock.
- The funding will be used to promote its chips into volume production in the defence market and expand into consumer-focused use cases.
- AGNIT Semiconductors specializes in Gallium Nitride (GaN) semiconductor technology and aims to sell 100,000 chips this year.
- The Indian semiconductor sector is expected to become a $150 Bn market by 2030.
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Yourstory
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AGNIT Semiconductors bags $3.5M in seed round co-led by 3one4 Capital and Zephyr Peacock
- AGNIT Semiconductors raises $3.5 million in seed round co-led by 3one4 Capital and Zephyr Peacock.
- The funding will be used to scale production and expand into new segments.
- AGNIT aims to sell 100,000 semiconductor chips within the next 12 months.
- The company is recognized for its GaN semiconductor technology and has signed an MoU with the Ministry of Defence.
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TechCrunch
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Accel eyes stake in India’s Truemeds at $330 million valuation
- Accel is reportedly in advanced discussions to lead a funding round of $30-40 million in Indian online pharmacy, Truemeds.
- The proposed valuation for Truemeds is around $330 million.
- The deal is not yet finalized and the terms may still change.
- Truemeds aims to disrupt the supply chain of medicine by eliminating middlemen and reducing medication costs.
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VIE Stories
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[Funding News] Budy Secures $4.2 Million in funding round led by RTP Global
- California-based Budy has raised $4.2 million in funding round led by RTP Global.
- The startup plans to use the funds to accelerate the development and training of its AI capabilities.
- Participating investors include Beenext, The Neon Fund, and angel investors Abhinav Asthana, Raju Reddy, and John Hayes.
- Budy aims to simplify sales and marketing procedures for businesses while reducing operational complexity.
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StartupDaily
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Atlassian’s Scott Farquhar sold the house next door to his cofounder for $130 million
- Atlassian cofounder Scott Farquhar has sold his waterfront mansion, Elaine, next to his cofounder's house for $130 million.
- Farquhar and his wife bought Elaine for $71 million in 2017 and had plans for its redevelopment, but objections from the neighbour may have influenced the sale.
- The buyer, an unnamed local, could use previous redevelopment plans or take advantage of the site's zoning to build luxury apartments.
- The sale not only brings a handsome ROI for Farquhar but also delivers $9 million in stamp duty to the NSW government.
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Medium
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Anti-Portfolio: Angst or Joy
- Anti-portfolio is the set of opportunities which were missed and turned out to generate high returns.
- Key learnings from reviewing an anti-portfolio include avoiding past mistakes and considering factors like team strength and market focus.
- The role of luck is acknowledged, but it is believed that luck comes consistently to those who have worked hard and are prepared for opportunities.
- By learning from experiences and refining investment strategies, investors can be better positioned for future opportunities.
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Gritdaily
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How CEEK’s Web3 Platform Is Redefining Content Monetization
- Traditional platforms are struggling to meet the evolving needs of creators, many of whom are left with shrinking revenues and limited opportunities.
- Web 2.0 platforms were designed primarily to generate revenue for themselves, not for the creators who fuel them.
- The CEEK platform is built to empower creators and how they connect with their audiences.
- Direct monetization is at the core of CEEK’s ecosystem, offering a suite of tools for creators to earn from their fanbase, expertize, and content.
- CEEK empowers creators to receive payments through mobile money and virtual currencies, ensuring they can monetize their content even in regions where PayPal or traditional payment methods are unavailable.
- CEEK distributes content across a wide range of immersive devices, including Meta Oculus, Apple Vision Pro, HTC Vive, and Smart TVs.
- CEEK goes beyond just distribution by integrating AI-powered tools that enhance content creation and personalization.
- CEEK offers a solution with its Web3-based monetization models that provide creators with direct revenue streams.
- CEEK’s innovative model shifts the digital economy toward a more creator-friendly and sustainable approach, offering creators diverse and scalable ways to monetize their content without being limited by ad revenue.
- CEEK is paving the way for the next billion users by providing creators with the tools they need to build sustainable revenue streams, expand their reach, and deliver impactful fan experiences.
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Inc42
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Tata Electronics Gets Show Cause Notice Over iPhone Plant Fire
- The Tamil Nadu government issues a show cause notice to Tata Electronics following a major fire at its iPhone manufacturing plant in Hosur.
- The notice seeks an explanation from the company within a week regarding the incident.
- The fire broke out due to the failure of the thermostat control at the anodising plant.
- Apple sent a Supplier Responsibility team to evaluate the situation at the plant.
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Yourstory
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Quick commerce to contribute $1B in GMV during festive season: Shiprocket
- Shiprocket expects quick commerce to contribute $1 billion in GMV during the festive season.
- Shiprocket projects the festive ecommerce market to grow 23% to $12 billion.
- Growth will be driven by demand in high traction categories and influence of AI-driven recommendations and social media influencers.
- 60% of online festive orders are expected to originate from non-metros this year.
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