Hiya,
Privateness violations are again to hang-out Meta.
The Competitors Fee of India fined the tech large Rs 213 crore for antitrust violations associated to WhatsApp’s controversial 2021 privateness coverage.
Mixed with a double whammy from a German courtroom ruling relating to compensation for an information breach in 2018 and 2019, it has not been a superb day for Meta.
For Indian startups, nonetheless, it’s undoubtedly a superb day to make a deal, particularly in case you go by MakeMyTrip’s acquisition of Happay and Good Glamm Group’s stake enhance in The Mothers Co.
In the meantime, the nationwide capital is choking, but once more.
Air pollution readings in Delhi hit their highest of this pre-winter season as poisonous smog engulfed a lot of north India, with visibility in some locations dropping to 100 metres.
The air high quality index at a number of stations within the capital ticked as much as “extreme” at about 500, main the state authorities to direct all faculties to maneuver lessons on-line, together with some diversions and delays at airports and railway stations.
Air pollution is a medical emergency, and the prognosis is grim. The globally agreed aim to maintain the world’s temperature rise beneath 1.5C is now “deader than a doornail”.
ICYMI: Discovering $1 trillion a yr in local weather finance is simply one of many challenges to be tackled on the UN local weather summit.
With the regular renaissance of nuclear vitality comes hope for a brand new renewable supply. And a few fusion startups are already manner forward of the sport.
Harnessing the facility of the solar has by no means appeared extra necessary.
In as we speak’s e-newsletter, we’ll speak about
Ritesh Agarwal pumps cash into OYONanobots for oral healthcareEmpowering craft-led enterprises
Right here’s your trivia for as we speak: Nutmeg spice comes from the seeds of which tree?
Hospitality
Ritesh Agarwal pumps cash into OYO
Ritesh Agarwal, Founder and CEO of hospitality administration platform OYO is ready to speculate a further Rs 550 crore ($65.1 million roughly) into the corporate to extend his shareholding within the entity to 32%, from 30% held beforehand.
The main points had been talked about in an organization discover for a rare common assembly to shareholders and confirmed by a supply for YourStory.
Key takeaways:
The present infusion will likely be at a forty five% premium, bringing the corporate’s valuation to $3.4 billion from $2.4 billion in its earlier spherical in August 2024.Agarwal led the corporate’s Collection G spherical with $100 million, with an total spherical measurement of $175 million. The capital was utilised partly by OYO to amass G6 Hospitality, the mother or father firm of economic system lodging suppliers Motel 6 and Studio 6 manufacturers, from Blackstone Actual Property.OYO reported a web revenue of Rs 158 crore in Q2 of FY25, Agarwal had introduced in a townhall. The corporate has managed to report income for 2 subsequent quarters of FY25 in accordance with studies.
Funding Alert
Startup: HealthKart
Quantity: $153M
Spherical: Fairness
Startup: VoloFin
Quantity: $50M
Spherical: Notes programme
Startup: Matrix Geo Options
Quantity: $1M
Spherical: Pre-IPO
Startup
Nanobots for oral healthcare
Theranautilus’ options utilise core nanorobotics know-how to disrupt the $6 billion marketplace for toothpaste that targets sensitivity and takes solely 10 minutes to unravel the issue versus a toothpaste that needs to be used on daily basis for a very long time to take impact.
Superior tech:
The corporate has developed two units—one which can be utilized by clinicians working at a dentist’s workplace and an over-the-counter machine that appears like a toothbrush.These particles handle to go contained in the tooth by tiny pores and are available collectively to type a cluster. This cluster then triggers a chemical response which the startup has “fine-tuned to make a brand new tooth mainly contained in the tooth.” Theranautilus has raised $1.2 million in a seed spherical led by pi Ventures at a Rs 60 crore valuation (about $7.1 million). The spherical additionally noticed participation from Golden Sparrow Ventures and angel traders.
Social influence
Empowering craft-led enterprises
As a journalist, Priya Krishnamoorthy noticed the rise of the social influence motion in India, with social entrepreneurship coming into focus. This epiphany would lead Krishnamoorthy to start out 200 Million Artisans in 2020—an organisation that helps folks to reimagine the potential of ‘Handmade in India’ by inclusive entrepreneurship.
Unlocking potential:
“I had simply written an article speaking about why we have to construct an ecosystem for artistic and cultural entrepreneurs. I highlighted an information level saying whereas official figures put Indian artisans someplace between 7-25 million, unofficially, there are 200 million artisans,” says Krishnamoorthy.A small analysis undertaking led to the creation of the Enterprise of Handmade (BoH)—devoted to driving analysis, insights, and storytelling. BoH has delivered critically acclaimed analysis tasks like Informality and Catalytic Capital utilizing a craft-enterprise lens.200 Million Artisans will launch its second Kula Conclave from December 2-4 on the Kala Academy in Goa. The discussion board bridges the hole between inclusive capital and networking in India’s creative-cultural and craft-led manufacturers, social companies, and startups.
Information & updates
Spin-off: Goldman Sachs Group Inc is talking with potential companions because it plans to spin out its digital belongings platform into a brand new firm for big monetary corporations to create, commerce and settle monetary devices by way of blockchain know-how.Predictions: The US Federal Reserve is not anticipated to chop rates of interest at its December coverage assembly, Nomura has mentioned, making it the primary world brokerage to sign a pause within the central financial institution’s rate-cutting cycle within the wake of Donald Trump’s election win.Strong gross sales: Xiaomi reported better-than-expected web revenue within the third quarter on sturdy gross sales throughout its enterprise segments, together with smartphones, web providers, and electrical automobiles.
Nutmeg spice comes from the seeds of which tree?
Reply: Myristica fragrans tree, a tropical evergreen native to the Banda Islands in Indonesia.
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