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21 Indian Startups Raise Nearly $187 Million This Week

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The Commune
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21 Indian Startups Raise Nearly $187 Million This Week

This week, the Indian startup ecosystem raised around $187 million in funding, including four growth-stage and 13 early-stage deals.

Between October 21 and 26, at least 21 domestic startups collectively raised $187 million across 10 deals. Last week, 39 early and growth-stage startups raised around $450 million in funding.

This week, Singapore’s sovereign wealth fund Temasek invested an additional $60 million in edtech platform Upgrad.

Healthtech platform Healthify announced the closure of $45 million round, led by existing investor Khosla Ventures, and LeapFrog Investments with new participation from Claypond Capital (family office of Indian healthcare billionaire Ranjan Pai). This takes Healthify’s total primary equity raise to approximately $125 million so far.

Dairy technology startup Stellapps Technologies raised $26 million in series C funding, a mix of equity and debt. Existing investors Blume Ventures, Omnivore, Bill and Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups, and Blue Ashva Capital participated in the round.

D2C bags and luggage brand Zouk raised $10 million in a Series B round led by Aavishkaar Capital. Existing investors such as Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family also participated.

Generative AI startup Neysa secured $30 million in Series A funding, co-led by existing investors NTTVC, Z47 (fka Matrix Partners India) and Nexus Venture Partners. This investment builds on Neysa’s successful $20 million seed round earlier this year.

Meanwhile, workplace technology provider Oliod secured $6 million, led by Yaletown Partners, Exposition Ventures, George Kaiser Family Foundation, and Carya Ventures.

Mumbai-based startups led with nine deals, followed by Bengaluru, Delhi-NCR, Pune and Chennai.

The average funding in the last eight weeks is around $315.51 million.

–IANS

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Ongoing Hostilities Are To Nobody’s Benefit, Asserts India After Israeli Airstrikes On Iran

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The Commune
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Ongoing Hostilities Are To Nobody’s Benefit, Asserts India After Israeli Airstrikes On Iran

On Saturday, India said it remains “deeply concerned” by the evolving escalation and hostilities in West Asia and its ramifications for peace and stability in the region and beyond.

“We reiterate our call to all concerned to exercise restraint and return to the path of dialogue and diplomacy. The ongoing hostilities are to nobody’s benefit, even as innocent hostages and civilian populations continue to suffer,” read a statement issued by the Ministry of External Affairs (MEA).

“Our Missions in the region are in contact with the Indian community,” it added.

New Delhi’s reaction came after the Israeli Defense Forces (IDF) announced earlier in the day that they had successfully completed “precise and targeted strikes” against multiple military targets in Iran that posed an immediate threat to Israel.

These strikes, conducted in three waves in collaboration with the Israeli Air Force (IAF), took place early Saturday in response to a ballistic missile attack on October 1, revealed IDF spokesman, Brigadier General Daniel Hagar.

“Our message is clear: anyone who threatens the State of Israel and strives to drag the region into a wider escalation will pay a heavy price. We proved today that we have the ability to act decisively, and that we are ready, in attack and defense, to protect the State of Israel and the citizens of Israel,” said Hagar.

He added: “The IDF has fulfilled its mission. Should the Iranian regime make the mistake of initiating a new escalation, we will respond.”

Several countries, including from the Middle East, have called for the earliest possible normalization of the military and political situation in the region while urging all parties involved to prevent the situation from developing into a catastrophic scenario.

Qatar, Jordan, UAE and Saudi Arabia condemned the Israeli airstrikes, expressing deep concern over the continued hostilities and its repercussions on security and stability in the region.

The countries urged all concerned parties to exercise restraint, resolve disputes through dialogue and peaceful means, and avoid anything that could destabilise security and stability in West Asia.

The countries also called on the international community and influential and active parties to carry out their roles and responsibilities towards reducing escalation and ending regional conflicts.

“The Kingdom affirms its unwavering position in its rejection of the continued escalation in the region and the expansion of the conflict that threatens the security and stability of the countries and people of the region.

The Kingdom urges all parties to exercise the utmost restraint and reduce escalation and warns of the consequences of continuing military conflicts in the region,” said the Saudi Arabian foreign ministry.

–IANS

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PM Internship Scheme 2024 For Youth: How To Get Yourself Registered And How To Apply For It

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The Commune
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Over 1.55 Lakh Candidates Sign Up For PM Internship Scheme In Just 24 Hours

Prime Minister’s Internship Scheme, launched on October 3, 2024, is a central government initiative to provide internship opportunities to youth in the country’s top 500 companies. This scheme targets offering one crore internships to youth over five years.

The selected youth under the scheme will receive a monthly stipend of Rs 5,000. In addition, the applicants are entitled to one-time financial assistance of Rs 6,000.

The scheme will be implemented through an online portal (www.pminternship.mca.gov.in) developed by the Ministry of Corporate Affairs. All eligible candidates must register on the portal and apply for an internship.

To participate in the Prime Minister Internship Scheme, a youth must complete the application form online.

 

How to register for the PM Internship scheme:

Step 1: The candidate must first visit the portal by typing (pminternship.mca.gov.in) in an internet browser.

Step 1: The candidate must click the ‘Register Now’ tab and provide his/her mobile number in the ‘Register Youth’ pop-up.

Step 3: He/She will receive an OTP on the given number. A password will be generated when you enter it.

Step 4: Candidate must ‘update password’ after first login.

Step 5: The next step is creating the candidate’s user profile.

Step 6: It must be verified by adding KYC details through Aadhar authentication or Digilocker.

Step 7: Enter your personal details, residential details and bank details where you would want to receive internship money via DBT

 

How to apply for the PM Internship Scheme 2024:

Step 1: Visit the official portal — www.pminternship.mca.gov.in

Step 2: Complete the registration process by sharing personal and educational details.

Step 3: The portal will automatically generate candidates’ resumes, based on the information shared during registration.

Step 4: You can use the portal’s browsing facility to view internship opportunities based on your preferences (sector, location, role, etc).

Step 5: Based on your qualifications and preferences, apply for at least 5 internship opportunities that interest you.

Step 6: Candidates will be shortlisted based on their applications and the requirements of partner companies.

Step 7: Companies will review the shortlisted candidates and send offers based on their selection criteria.

Step 8: After receiving the internship offer, you can nod via the portal.

–IANS

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Must Take Action On Hoax Bomb Threats To Airlines, IT Ministry Tells Social Media Platforms

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The Commune
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Must Take Action On Hoax Bomb Threats To Airlines, IT Ministry Tells Social Media Platforms

Amid the unabated hoax bomb threats to airlines via global Internet platforms, the Centre on Saturday directed social media intermediaries like Elon Musk-headed X and Meta to ensure due diligence and promptly remove misinformation that affects public order and security of the state. In an advisory, the IT Ministry said such hoax bomb threats are mostly misinformation that is massively disrupting the public order, operations of airlines and security of airline travellers. Indian airlines have received more than 100 hoax bomb threats in a few days, forcing delays and emergency landings.

“Considering the serious nature of the situation, the Ministry of Electronics and Information Technology reminds with emphasis that all the intermediaries including social media intermediaries must make reasonable efforts to disallow such malicious acts including hoax bomb threats from being disseminated on their platforms,” read the advisory. The advisory further stated that the intermediaries including social media intermediaries must observe their due diligence obligations that include the prompt removal or disabling access to such unlawful information specified under the IT Rules, 2021, including hoax bomb threats, well within the strict timelines as prescribed under the IT Rules, 2021.

Apart from removing or disabling access to such misinformation under the IT Rules, 2021 as part of the reasonable efforts to be undertaken, “there is an additional liability on concerned intermediaries under the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) to mandatorily report certain offences perceived to be committed by any user of their platform that includes, among others, any act with the intent to threaten or likely to threaten the unity, integrity, sovereignty, security, or economic security of India”. Amid a surge in hoax bomb threats, Civil Aviation Minister Ram Mohan Naidu has expressed serious concern, saying the government is committed to taking strict action against those responsible for these malicious acts. On Friday, over 20 flights of various airlines reportedly received bomb threats.

“Considering the serious nature of the situation, the Ministry of Electronics and Information Technology reminds with emphasis that all the intermediaries including social media intermediaries must make reasonable efforts to disallow such malicious acts including hoax bomb threats from being disseminated on their platforms,” the IT Ministry said. In this regard, the intermediaries including social media intermediaries must observe their due diligence obligations that include the prompt removal or disabling access to such unlawful information specified under the IT Rules, 2021, including hoax bomb threats, well within the strict timelines as prescribed under the IT Rules, 2021, said the ministry.

–IANS

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PM Modi, Spanish Counterpart To Launch C-295 Aircraft Facility In Vadodara

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The Commune
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PM Modi, Spanish Counterpart To Launch C-295 Aircraft Facility In Vadodara

Prime Minister Narendra Modi along with Spanish PM Pedro Sanchez will jointly inaugurate the TATA Aircraft Complex for manufacturing the C-295 aircraft, during his visit to Gujarat’s Vadodara on Monday. It will be the country’s first private sector final assembly line for military aircraft.

It will involve the full development of a complete ecosystem from the manufacture to assembly, test and qualification, to delivery and maintenance of the complete lifecycle of the aircraft. Under the C-295 programme, a total of 56 aircraft will become part of the fleet, out of which 16 will be delivered directly by Airbus from Spain and the remaining 40 will be Made in India.

The manufacturing of aircraft will be done at the TATA Advanced Systems Limited (TASL) Campus. Apart from Tata, leading defence public sectors such as Bharat Electronics Ltd and Bharat Dynamics Ltd, as well as private Micro, Small and Medium Enterprises (MSMEs), will also contribute to this programme. PM Modi will also inaugurate and lay the foundation stone of various development projects worth over Rs 4,900 crore in Amreli. The key focus of these projects would be rail, road, water development and tourism sectors. PM Modi is also slated to inaugurate Bharat Mata Sarovar in Amreli’s Dudhala, developed on the Public-Private Partnership (PPP) model.

The dam, which could hold 4.5 crore litres of water till now, will see its capacity enhanced to 24.5 crore litres of water after the deepening and widening of the huge reservoir. The PM will also inaugurate and lay the foundation stone of various road projects worth more than Rs 2,800 crore, which include four-laning of various sections of NH 151, NH 151A and NH 51 and the Junagadh bypass.

The foundation stone for a four-laning project of the remaining section from the Dhrol bypass in Jamnagar district to Amran in Morbi district will also be laid. PM Modi will dedicate to the nation, the Bhuj-Naliya rail gauge conversion project, completed at a cost of around Rs 1,100 crore.

–IANS

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India To Have Its Own Space Station By 2035: Dr Jitendra Singh

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The Commune
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India To Have Its Own Space Station By 2035: Dr Jitendra Singh

India will have its own space station by 2035, which will be known as “Bharatiya Antriksh Station”, Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, said on Saturday. He announced the signing of a landmark MoU between the Indian Space Research Organisation (ISRO) and the Department of Biotechnology (DBT), that aims to integrate biotechnology with space technology, heralding a new era of scientific innovation in the country.

The MoU outlines several key initiatives, including the establishment of a ‘Bharatiya Antriksh Station’ and the unveiling of the ‘BioE3’ (biotechnology for economy, environment and employment) policy. According to the government, the collaboration will focus on areas such as microgravity research, space biotechnology, space biomanufacturing, bioastronautics, and space biology. The minister lauded ISRO Chairman S. Somnath and Secretary, Department of Biotechnology, Dr Rajesh Gokhale, for their efforts in making this collaboration possible. “The public-private participation has been instrumental in the rapid growth of India’s space sector,” said Dr Singh, adding that the number of space startups has grown significantly, with nearly 300 startups now contributing to the space economy.

This partnership is expected to benefit the national human space programme and spur innovations in human health research, novel pharmaceuticals, regenerative medicine, and bio-based technologies for efficient waste management and recycling. Dr Singh also acknowledged the Department of Biotechnology’s role in developing the first-ever DNA vaccine, which brought global recognition to India’s scientific capabilities.

In September, the Union Cabinet approved the fourth mission to the Moon and also gave a green signal for the building of the first unit of the Bharatiya Antriksh Station (BAS) by 2028. The government had envisaged an Indian Space Station by 2035 and an Indian to land on the lunar surface by 2040. Towards this goal, the Cabinet approved the development of the first module of BAS-1.

–IANS

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Bharat AI Mission Advancing With Strong Ties Among Industry, Government: Ashwini Vaishnaw

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The Commune
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Bharat AI Mission Advancing With Strong Ties Among Industry, Government: Ashwini Vaishnaw

Union Minister for Electronics, IT, and Railways Ashwini Vaishnaw on Saturday said the country’s AI mission is advancing with strong collaborations among industry, government, and academia.

In a post on X, Vaishnaw said he met Meta’s Chief AI Scientist Dr Yann LeCun and discussed the country’s potential in AI and skilling the youth. “Met @ylecun of Meta to discuss Bharat’s AI potential. Our AI mission is advancing with strong collaborations among industry, government, and academia: GenAI Centre of Excellence (CoE) with IIT Jodhpur and Meta, and YuvAI Skilling with AICTE and Meta to train 1,00,000 students on LLM (large language models),” the minister said.

LeCun said it was “a pleasure discussing the important role Bharat plays today and can play tomorrow in the ecosystem of AI open platforms”. On Friday, Meta announced a strategic collaboration with IndiaAI at the Ministry of Electronics and Information Technology (MeitY), including the establishment of the Center for Generative AI called ‘Shrijan’ at IIT Jodhpur and the launch of the “AI for Skilling and Capacity Building” initiative, in partnership with All India Council for Technical Education (AICTE). Meta has committed to investing up to Rs 7.5 crore over the next three years to ensure the successful establishment and operation of the centre.

Additional Secretary, MeitY, Abhishek Singh, said the government is supporting the vision of AI innovation, skilling and technological advancement to drive inclusive growth under the ‘IndiaAI’ initiative. “By fostering a culture of open-source innovation in AI, advancing research and skill development in emerging technologies, we are bridging the talent gap and ensuring that our youth are equipped to lead in the AI revolution, ultimately securing India’s position as a global leader in responsible development and contributing to a robust AI ecosystem,” said Singh. According to Meta India’s Vice President and Head of Public Policy, Shivnath Thukral, they are committed to nurturing an ecosystem where indigenous solutions can flourish.

–IANS

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Show Risk Appetite In Self-Employment, President Tells IITians

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The Commune
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Show Risk Appetite In Self-Employment, President Tells IITians

Urging IITians to take the lead in self-employment and job creation, President Droupadi Murmu on Saturday told students of the premier institute at Bhilai to show some hunger for risk-taking, reminding them of the saying – “No risk, no gain.”

“Success in self-employment cannot be achieved with an attitude of risk aversion,” she said, expressing confidence that graduating students would continue to move forward with their risk appetite, develop new technologies, and work towards making the country and the world a better place. Speaking at the convocation ceremony of the Indian Institute of Technology (IIT) Bhilai, the President hailed students’ achievements from IITs.

Urging IITians to aim to be job creators by starting their own ventures, the President said in the field of industry, it is said, “No risk, no gain.” “IITians have made an invaluable contribution to the progress of the country and the world with their pioneering thinking, experimental mindset, innovative approach and far-sighted vision,” she said. “By leading many global companies, they are shaping the 21st-century world in many ways with their technical and analytical skills. Many alumni of IIT have chosen the path of entrepreneurship and have created new jobs. They have promoted India’s digital transformation and start-up culture,” she said, according to a statement issued in New Delhi.

The President said that Chhattisgarh is rich in tribal culture and traditions. “The people of tribal society understand nature closely and have been living in harmony with the environment for centuries. They are a storehouse of knowledge accumulated through natural lifestyle. By understanding them and learning from their lifestyle, we can make a significant contribution to the sustainable development of India,” President Murmu added. But the inclusive development of the country is possible only with the active participation of our tribal brothers and sisters, she said. She appreciated IIT Bhilai for making special efforts in the technical field for the progress of tribal society.

The President was happy to note that IIT Bhilai is focusing on agri-tech, health-tech and fin-tech. This institute has collaborated with AIIMS Raipur in the healthcare sector to create mobile apps that help villagers get medical help at home. The institute has also collaborated with Indira Gandhi Agricultural University, Raipur to create tech solutions for farmers that help them guide and utilise their resources properly. She also noted that IIT Bhilai is making efforts for the development of tribal communities working on minor forest products such as Mahua.

–IANS

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Karnataka Bypolls: People Will Give A Fitting Reply To Cong’s Misgovernance, Says Basavaraj Bommai

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The Commune
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Karnataka Bypolls: People Will Give A Fitting Reply To Cong's Misgovernance, Says Basavaraj Bommai

Former Karnataka Chief Minister and BJP Member of Parliament Basavaraj Bommai on Saturday said that the people will give a fitting reply to the ruling Congress in the state for its ‘misgovernance’ in the upcoming bypolls in three Assembly constituencies. Speaking to the media in Shiggaon on Saturday, he said that the Congress has been dreaming that its ‘guarantee schemes’ will be successful, but “it will not come true”. Bommai’s son, Bharat Bommai, is contesting as the Bharatiya Janata Party (BJP) candidate from Shiggaon in the November 13 bypolls.

“Just as the people supported the BJP in the last Assembly elections, they will receive the same kind of support and the party workers are fully geared up for the election,” Bommai said. Asked about Karnataka Housing and Minorities Welfare Minister Zameer Ahmad’s ‘challenge’, Bommai termed it as “ridiculous and far from the truth”. Zameer Ahmad had stated that Basavaraj Bommai never discussed anything about the development of the Shiggaon Assembly constituency. The Minister further stated that he would retire from politics if Bommai proved that he was concerned about the development of the constituency he represented. Regarding caste arithmetic in the Shiggaon constituency, the BJP MP said they (people) are all united.

“People from all communities have expressed their support for Bharat Bommai,” he said. By-polls in three Assembly constituencies of Karnataka will be held on November 13. The ballots will be counted on November 23. BJP candidates for Shiggaon and Sandur — Bharat Bommai and Bangaru Hanumantha filed their nominations on Friday for the upcoming by-elections. Besides, NDA candidate for the high-profile Channapatna Assembly constituency, Nikhil Kumaraswamy also filed his nomination on Friday.

Nikhil Kumaraswamy is the son of Union Minister H.D. Kumaraswamy and grandson of former Prime Minister H.D. Deve Gowda. C.P. Yogeshwara, who recently switched to the Congress from the BJP, the grand old party’s nominee for the Channapatna by-elections. —

IANS

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Every Drop Of Innocent Blood Spilled By Terrorists Will Be Avenged: J&K L-G

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The Commune
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Every Drop Of Innocent Blood Spilled By Terrorists Will Be Avenged: J&K L-G

Jammu and Kashmir Lt Governor (L-G) Manoj Sinha said on Saturday that the security forces had devised a new strategy to deal with the emerging terrorist threat and assured that every drop of innocent blood spilt by terrorists would be avenged. L-G Sinha remarked while addressing the parade of 629 BSF recruits passing out at the Humhama training centre in Budgam district. He said that the attack on innocent workers in Gagangir and the one in Baramulla district where army soldiers were killed is “highly condemnable”.

“India always wants peace with its neighbours, but unfortunately we have a neighbour that always tries to disturb peace in India despite facing ultimate poverty back home,” the L-G. Saying that the Border Security Force (BSF) is facing challenges on multiple fronts, be it protecting the LoC or the International Border, L-G Sinha emphasised the need for the force to expand its ambit and maintain close coordination with other central forces to tackle the challenges of terrorism. “The army and the central forces, including BSF, have to put in a collective effort to root out terrorism from J&K. BSF is one of the best central forces, but it needs to walk the extra mile,” he said, adding that security forces need to upgrade the technical capabilities to meet the drone challenges.

“Not just weapons, but narcotics are also being air-dropped through drones. We need to counter this challenge as drugs are consuming our younger generation. The finances earned out of narcotics sale is pumped in to fuel terrorism,” the L-G said. “The BSF should advance its technology, intelligence sharing, and enhance area domination,” he added. He praised the role of BSF in tackling terrorism in Punjab, saying that the force has great stories of valour and patriotism in its kitty.

“Your role in Kashmir is also appreciable. You are not working alone to fight terrorism but also on the civic front. This includes opening schools, helping the poor and dealing with the smuggling of weapons and drugs,” the L-G said. Wishing a bright future to the passing out recruits, L-G Sinha said that the BSF should train NCC cadets in a way so that they could be inducted into BSF tomorrow.

–IANS

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