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Yourstory
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ABFRL posts net loss at Rs 214.7 Cr in Sep qtr
- Aditya Birla Fashion and Retail Ltd (ABFRL) has reported a net loss of Rs 214.70 crore in the September 2024 quarter. This is compared to a net loss of Rs 200.34 crore in the same quarter last year.
- The company's revenue from operations during the quarter was Rs 3,643.86 crore, compared to Rs 3,226.44 crore in the year-ago period.
- The net loss was mainly due to higher depreciation/amortisation for brand and retail assets and higher interest costs on account of elevated borrowings.
- ABFRL's consolidated financial results for the quarter are not comparable with previous quarters due to the amalgamation of TCNS Clothing and acquisition of Goodview Fashion Private.
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Yourstory
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Startup news and updates: Daily roundup (November 8, 2024)
- Camping startup Exoticamp secures Rs 7 crore funding from Brand Capital for expansion in India.
- Travel agent startup 30 Sundays raises $770,000 in pre-seed round, plans to expand into European market.
- BrahmVeda Ventures acquires Astro AI App, Vedvaani, in a cash-equity deal.
- Brillio enhances BrillioOne.ai platform with AI capabilities for efficient software development.
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Medium
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Google’s Self-Driving Car Initiative: Pioneering Autonomous Transportation
- Google’s Self-Driving Car Initiative: Pioneering Autonomous Transportation
- Led by Sebastian Thrun, the team placed sensors, GPS, and AI in toy Toyota Prius cars.
- Goals included achieving 300,000 accident-free miles and adding Lexus SUVs in 2014.
- Waymo, an individual standalone business, brought the project closer to commercialization.
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Yourstory
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Furlenco's annual revenue falls 10.4% as business slows
- Furlenco's annual revenue from operations fell 10.4% to Rs 139.56 crore for the year ended March 31, 2024.
- The company's loss for the year slightly increased to Rs 130.22 crore.
- Furlenco's rival Rentomojo reported a 3X increase in profit after tax to Rs 22 crore.
- Rentomojo's net revenue rose by 60% to Rs 193 crore.
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Technode
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Tencent continues to optimize HarmonyOS for WeChat as Huawei prepares to launch Mate 70 series
- Tencent announces stable version of HarmonyOS for WeChat, subject to continuous updates.
- Tencent plans to invite users to participate in beta testing of HarmonyOS version of WeChat.
- Stability of HarmonyOS WeChat crucial for broader adoption of Huawei's HarmonyOS.
- Huawei to launch Mate70 series with embedded HarmonyOS NEXT system in late November.
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Eu-Startups
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Paris-based ZE Energy secured €54 million to offer environmentally responsible solutions
- Paris-based ZE Energy has raised €54 million in funding led by Amundi Transition Énergétique.
- The investment brings new stakeholders, including Amundi’s Core+ infrastructure funds and Demeter’s Climate Infrastructure Fund.
- ZE Energy specializes in Battery Energy Storage Systems (BESS) and renewable energy solutions.
- The funds will be used to support ZE Energy's expansion across Europe over the next two years.
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SiliconCanals
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The Netherlands Enterprise Agency (RVO) invests €36M in these 6 new seed capital funds in 2024: Read more
- The Netherlands Enterprise Agency (RVO) has invested €36M in six new seed capital funds in 2024.
- The funds aim to boost innovative startups by providing interest-free loans to investment funds.
- Each fund can secure up to €10M, with individual startups receiving between €100,000 and €3.5M.
- The supported funds include Cottonwood Technology Fund, Natural Ventures Netherlands, Lumaux Capital, LUMO Rise, ECFG Growth Ventures, and ECG Ventures I.
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Startupreporter
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Photoquip’s Nanlite and Nanlux Lighting Captivate at Broadcast India Show 2024
- Photoquip showcased its Nanlite and Nanlux lighting solutions at the Broadcast India Show 2024.
- The Nanlite Evoke Series, including models like 900C, 1200B, and 2400B, provided precision, versatility, and performance for filmmakers.
- The Nanlite FC Series offered an affordable and high-performance option for photographers and creators.
- Photoquip's latest innovations at the event reinforced their role as a transformative force in broadcast lighting.
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Startupreporter
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Indian Achievers’ Forum highlights the Evolving role of Indians in the global economy
- Indian Achievers’ Forum organized a webinar on ‘The Evolving Role of Indians in the Global Economy’.
- Insights and experiences from esteemed panelists from diverse sectors and countries were shared in the informative session.
- Panelists discussed the potential of skilled Indian IT professionals, modern technologies like AI and cloud computing, and adoption of Ayurvedic principles globally.
- The session also acknowledged award winners who have brought laurels to the nation from countries like the USA, Australia, and UAE.
- India is evolving into a significant force in the global economy, positioning itself as a leader in the rapidly changing landscape.
- The webinar presented optimism showcasing the resilience and ingenuity of the evolving role of Indians in the global economy.
- Adaptability and forward-thinking will be crucial for India's success in the dynamically changing global economy.
- The webinar was skilfully moderated by Dr. Shabnam Asthana, Director of the Indian Achievers’ Forum and Managing Editor of CSR Times.
- Mr. Prashant Das, Associate Editor of CSR Times and Director of the Indian Achievers’ Forum set a positive tone with his opening remarks.
- India's strong technical capabilities in areas like digital transformation, AI, blockchain, and quantum science have positioned it to lead in the tech landscape.
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Startup Pedia
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Gurugram EV Charging Startup Failed For 19 Months Before Cracking The Right Product - Gets US Funding
- Gurugram-based firm, Tobor specialises in providing EV charging solutions for businesses and individuals across the country.
- Tobor was founded in November 2022 by Dr. Vivek Prakash and Gaurav Lohia, with a vision to create a product that simplifies EV charging and addresses environmental challenges.
- Recently, the company received significant funding from Peter Norwood, a US-based serial entrepreneur and former Google Engineering Director.
- Tobor's founders had been sharing weekly progress reports with Peter Norwood, a long-time strategic advisor for the company.
- The company hit a number of obstacles in its early days, with its initial product not feasible for the market and a faulty electrical charger unable to interact with the car it was supposed to charge.
- During this time, Tobor made a number of strategic hires, bringing in three technical consultants to address specific areas and subject matter expertise.
- Despite a number of setbacks, Tobor launched its final product in March 2024, with a fully-functioning Tobor charger hub that was end-to-end integrated with the platform.
- Since June 2024, Tobor has installed a total of 12 charging stations in the cities of Delhi, Meerut, and Gurugram.
- The company's revenue model is distributed into two buckets: operating chargers and selling chargers to entities like EV manufacturers and fleet operators.
- Tobor focuses primarily on the B2B channel of sales, providing world-class quality and performance EV charging solutions made 100% in India.
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Yourstory
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Taming the restless 'Monkey Mind': 6 signs and calming tips
- The 'monkey mind' refers to a restless state of mind characterized by racing thoughts and lack of focus.
- Signs of a monkey mind include constant overthinking, difficulty focusing on a task, procrastination, heightened anxiety or stress, trouble sleeping, and feeling constantly distracted.
- Strategies to calm the monkey mind include setting time limits for worrying, practicing mindfulness, implementing the Pomodoro Method for improved focus, breaking tasks into smaller steps, incorporating relaxation techniques such as deep-breathing exercises and meditation, establishing a calming bedtime routine, and practicing mindful breaks to stay present.
- By recognizing the signs of a monkey mind and employing calming strategies, individuals can regain control over their mental state and cultivate peace, focus, and contentment in their daily lives.
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Startup Pedia
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1% Club Founder Backlashed by Netizens for Laying Off 15% of Employees
- Sharan Hegde, founder and CEO of finance platform 1% Club, faced backlash from netizens after laying off 15% of employees.
- Hegde clarified that the layoffs were part of a cost-cutting exercise and to address hiring mistakes.
- The 1% Club secured investment but put the money in an FD, drawing criticism from netizens.
- Critics argue that a company promoting financial literacy should have managed its finances better.
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VIE Stories
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Top 12 Growing Business Sectors in India
- India has changed a lot in recent years and is growing rapidly by various industries.
- The E-commerce sector is growing continuously with a market valuation of $111.40 billion by 2025.
- The Information Technology sector contributes more than 10% to India's GDP by 2025.
- The Healthcare sector's market valuation will reach $50 billion by 2025, and the government is investing more in this sector.
- The Fintech sector is estimated to reach $141 billion by 2025 with more than 87% of people using fintech services.
- India's biotechnology sector is growing steadily and plays a significant role in global healthcare innovation.
- The Food Industry in India stands as one of the second-largest food manufacturers worldwide.
- The Manufacturing industry plays an important role with manufacturing engineering designing and optimizing the manufacturing process.
- Creating a good Infrastructure helps in making smart cities equipped with airports and efficient transportation systems.
- Automobiles and Auto Components segment is one of the largest sectors in the world with India being a major global manufacturing hub for commercial vehicles.
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Startup Pedia
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Aman Gupta Says boAt Is Heading for Global Leadership in Audio Sector
- Aman Gupta, co-founder and CMO of boAt Lifestyle, shared his vision of boAt becoming a global leader in the audio sector.
- Gupta highlighted boAt's achievements as one of the top 5 global audio wearable brands with over 5 crore+ devices and 10,000+ jobs created in India.
- He expressed pride in boAt's role in pioneering tech advancements, fueling local job creation, and shaping the future of Indian manufacturing.
- Netizens praised Gupta for his post, appreciating Indian innovation and manufacturing, and commending boAt as a good and affordable brand.
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VIE Stories
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The Inspiring Journey of 18 Solitaire
- 18 Solitaire is India's 1st natural diamond engagement ring specialist brand, launched under the Start-up India campaign.
- Founded by Mrs. Sweta Sahadeva and her son Ishank Sahadeva, the brand has rapidly become India's premier destination for natural diamond engagement rings.
- Securing funding at the ideation stage from Innovation venture, 18 Solitaire has achieved remarkable growth, establishing flagship stores and launching a unique franchise model.
- The brand's success is attributed to its commitment to quality, trust, and customer satisfaction, as well as its innovative approach and recognition as the Startup of the Year.
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