Investment in Bharat by other Countries
- Coralogix to invest $30 mn in India to meet data localisation norms
Key points:
- Israeli tech company Coralogix on Thursday announced a $30 million investment for expanding into India, driven primarily by the data localisation compliance requirements for its customers.
- The company, provider of machine learning-powered log analytics and monitoring solutions, said it will provide customers with its first local Amazon Web Services (AWS) server support through its Mumbai region and data storage capabilities.
- Its Chief Executive and co-founder Ariel Assaraf said the $30-million investment will be done over a five-year period.
(Business Standard, 13 August 2020) News Link
Planning of Investment in Bharat
- ByteDance in talks with India’s Reliance for investment in TikTok: Report
Key points:
- China’s ByteDance is in early talks with Reliance Industries Ltd for an investment in its video-based app TikTok‘s business in India, TechCrunch reported on Thursday, citing sources.
- The two companies began conversations late last month and have not reached a deal yet, according to the report.
- Microsoft Corp has been in talks to acquire the U.S. operations of the video-sharing app.
(Economic Times, 13 August 2020) News Link
Startup in Bharat by Bhartiya
From Punjabi to Sanskrit, this edtech startup is making learning Indian languages relevant
Key points:
The startup’s mobile app makes learning Indian languages easy, interactive, and culturally relevant for expats, tourists, international students, kids, domestic migrants, NRIs, and cultural enthusiasts.
They currently offer five Indian languages: Hindi, Punjabi, Sanskrit, Kannada, and Gujarati.
With approximately 100,000 downloads across 120 countries in a year, Language Curry uniquely equips its learners with contextual, conversational language learning where the user not only learns the ‘what’ or ‘how’ of speaking Indian languages, but also receives short cultural capsules that explain the ‘why’ behind it.
The startup on Thursday, August 13 announced that it has raised $92,000 in angel funding led by Rebalance Angel Community, Chandigarh Angel Network, and a clutch of angel investors.
(Your Story, 13 August 2020) News Link
How this aerospace engineer who worked with NASA is now making UAVs for India’s Special Forces
Key points:
- Chennai-based Vinveli makes indigenous UAVs or drones for Special Forces under the Ministry of Home Affairs, such as the National Security Guard and the Central Reserve Police Force, and the Ministry of Defence.
- According to Gokul, the cost of the drones developed by Vinveli range between $10,000 – for the basic agriculture or imaging payloads, and $100,000 and above – for advanced sensor packages and navigation options such as swarming.
- During the Iowa Startup Accelerator Programme in 2014, Vinveli had received seed funding of $25,000.
(Your Story, 13 August 2020) News Link
From Surat to Bengaluru, this platform is building a community of designers and photographers
Key points:
- Iconscount is a bootstrapped design resource marketplace that offers ready-to-use high-quality icons, illustrations, etc.
- According to the startup, at present, people from over 150 countries are purchasing from its library of over two million icons, illustrations, and stock photos for their businesses. The startup currently has around 200,000 plus registered users
- In the ‘subscription model’, the user can purchase a monthly or yearly plan, which gives them access to various resources depending on the package they have selected. The price of these packages can range from $9 to $3000/ per month.
(Your Story, 13 August 2020) News Link
Economic support to other Countries
India announces USD 500 million assistance for major connectivity project in Maldives
Key points:
India will fund the implementation of a major connectivity project in Maldives through a USD 400 million line of credit and USD 100 million grant, External Affairs Minister S Jaishankar said on Thursday.
The 6.7 km Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in Maldives, connecting Male with three neighbouring islands – Villingili, Gulhifahu and Thilafushi, officials said.
He also announced the start of regular cargo ferry service between India and Maldives to boost trade and commerce between the two countries.
India is also extending financial support for construction of a port in Gulhifahu.
“Once completed, this landmark project will streamline connectivity between the four islands, thereby boosting economic activity, generating employment and promoting holistic urban development in the Male region,” the Ministry of External Affairs (MEA) said.
(Economic Times, 13 August 2020) News Link
Vaccine development
Zydus Cadila launches India’s cheapest remdesivir version at Rs 2,800 per 100 mg vial
Key points:
Drug firm Zydus Cadila on Thursday said it has launched a generic version of Remdesivir, used for treating patients suffering from severe COVID-19 symptoms, at Rs 2,800 per 100 mg vial in the Indian market
Branded as Remdac, the drug is the most economical Remdesivir brand in India, Zydus Cadila said in a regulatory filing.
The active pharmaceutical ingredient (API) for the drug has been developed and manufactured at the group’s API manufacturing facilities in Gujarat, Zydus Cadila said.
Zydus Cadila is the fifth company to have launched its generic version of Remdesivir in India. Hetero Labs, Cipla Mylan and Jubilant Life Sciences have already launched their generic versions of antiviral drug Remdesivir in the country.
(Economic Times, 13 August 2020) News Link
Arise Bharat 