Today's Tech Check- "IIT Madras' Record R&D Funding, Daimler's Driverless Trucks, InCred's PE Triumph, IRDAI's Fine on Go Digit, and Suniel Shetty's Investment!"
8th May, 2024
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1. “IIT Madras Secures a Whopping INR 513 Crore for R&D and Technology Advancements”
IIT Madras raises INR 513 Cr from alumni, industry, and donors in FY24 for R&D and tech deployment.
This marks a 135% increase from the previous financial year.
48 donors contributed over INR 1 Cr each, including alumni, corporate partners, and CSR funds.
Alumni alone raised INR 367 Cr, a 282% increase from the previous year.
Funds will be used for research, scholarships, infrastructure, and Chair Professorships.
IIT Madras has become a leader in 'Tech-Driven CSR' for societal benefit.
#Internet #News
2. “Revolutionizing Logistics: Daimler's Driverless Semi Trucks Set to Transform Roads in 2027”
Key Fact: Daimler Truck to launch driverless semi trucks by 2027.
Truck Features: All-electric eCascadia model with advanced sensors and computer system for autonomous navigation.
Partnerships: Daimler collaborating with Waymo and Torc on autonomous systems.
Initial Deployment: Focus on hub-to-hub freight hauling in the southwestern US.
3. “InCred Alternative Triumph: Maiden PE Fund's First Closure Marks a New Milestone!”
InCred Alternatives launches first Private Equity fund, IGPF-I, securing commitments over Rs 330 crore in first close.
IGPF-I targets growth and late-stage companies in consumer, financial services, and enterprise/technology sectors, with an average ticket size of Rs 40-80 crore.
The fund is led by Vivek Singla, Managing Partner & CIO – Private Equity, InCred Alternatives, with nearly two decades of experience.
IGPF-I aligns with InCred's mission of supporting India's private market ecosystem.
InCred now has approximately Rs 3,000 crore of total funds under supervision across various strategies, including alternatives and equities.
#technology #enterprise #crore #Article #News
4. “IRDAI Slaps INR 1 Crore Fine on IPO-Ready Go Digit: A Deep Dive Analysis”
IRDAI levied a penalty of INR 1 Cr on Go Digit for violating Section 26 of the Insurance Act.
The penalty is for non-disclosure of revised conversion ratio for compulsorily convertible preference shares (CCPS) issued by Go Digit's parent company.
Go Digit claims the error in numbers was due to inadvertence.
Go Digit, which plans an IPO, received SEBI approval for listing on March 5, 2024.
Fairfax Financial Holdings, through its subsidiary FAL Corporation, is a major investor in Go Digit.
#Internet #company #News #AI
5. “Suniel Shetty Invests: Regrip Secures $2M Boost from Qatar VC & IPV in Latest Funding”
Regrip, a tyre recycling startup backed by Suniel Shetty, has raised $2M in fresh funding led by Qatar-based VC IPV.
Prominent investors include Rikant Pitti, Aparna Thyagarajan, Vishal Jhunjhunwala, and Suniel Shetty.
Regrip plans to expand its network of tyre collection centers and introduce innovative technology for predicting tyre life and price.
The investment will enable Regrip to enhance its technological capabilities and strengthen its collection network.
Suniel Shetty highlights Regrip's potential to transform tyre recycling and its environmental impact.
#environment #technology #startup #environmental #Funding Fusion #funding
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