- German developer Lilium has announced that their prototype flying taxi has achieved speeds in excess of 100 km/h. This has given the startup confidence to expand its production capacity ahead of the planned commercial launch in 2025.
- Uber Technologies and NASA are working together to study urban manned aircraft following a partnership last year that focused on unmanned drones.
2. AFI, IIITH, IITH, and T-Hub collaborate to build a social impact ecosystem for technology startups
- The alliance is designed to address the critical challenges faced by social entrepreneurs with a special focus on the business model, market discovery, go-to-market strategy, scale-up strategy, right technology application and securing funds.
- The not-for-profit collaboration aims at delivering strategic scaling support to 5000 social impact startups over five years.
- Alibaba saw sales worth $30 billion on its platforms on Singles’ Day last year, dwarfing $7.9 billion U.S. online sales for Cyber Monday.
- Taylor Swift, whose latest album “Lover” has broken records in China, will headline this year’s opening gala alongside local celebrities like Jackson Yee.
- The sector-agnostic fund, which had an initial target corpus of about ₹325 crores, counts as SIDBI, IIFL, Yes Bank, Max Group, Gray Matters Capital and Hyundai among its limited partners.
- Former Infosys CEO Kris Gopalakrishnan, industrialist Sunil Munjal and Sequoia Capital MD Rajan Anandan, among others, have also backed the fund in their personal capacities.
- The tough financial conditions have meant that startups are using technology innovatively to reduce the cost of operations.This year has been stressful for non-banking finance companies (NBFCs), with a liquidity squeeze affecting the broader financial services sector.
- Mounting losses force new-age lending companies to trim bad loans via tech, varied portfolio.