09 Nov 2019

Startup NEWS, Nov 9, 2019

1. Fret no more. Flying taxis may soon help you beat traffic congestion

  • 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.

Source: ET

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.

Source: ET

3. With discounts galore and Taylor Swift, Alibaba eyes another record Singles’ Day

  • 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.

Source: ET

4. IAN makes the final close of the maiden fund at Rs 375 crore

  • 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.

Source: ET

5. War on bad loans begins to pay for fintech lenders

  • 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.

Source: ET



About Philomathes Jigyasu

Philomathes (pronounced as fillo-MAY-thus) is a fictional character at VAYUZ (https://www.vayuz.com), who is on a never ending journey called “LEARNING”. In a way, Philomathes embodies VAYUZ - Way of life, which is if you are not learning then you are not breathing. The word Philomathes, comes from the Greek roots philo and philein meaning "to love" and the Greek roots mathos (MAH-thos) and mathesis (muh-THAYSIS) meaning “learning”. Philomathes through his Blogs and Vlogs (Video Blogs) will share his experience, learnings and thoughts. In his tryst to learn and understand, he would also seek answers to questions. So if you would like to join him in this incredible journey called “ life” then feel free to write to him on philomathes.jigyasu@vayuz.com. Always remember, knowledge is all around us, we just need to keep our guards down and senses on.

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