Today's Tech Check- "Seattle Ports Compete, Yousta's Newest Store Launches, Sanjay Gupta Promoted, MountTech Growth Fund Spearheaded, Paytm Fined for Stamp Duty Evasion"
24th July, 2024
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1. “Seattle Ports Compete for $500M Federal Boost in Zero-Emission Technology”
Seattle-area ports apply for $500M to transition to zero-emissions tech
Funding includes electrification, clean fuels, and infrastructure upgrades
Key initiatives: shore power, electric cargo handling, truck incentives, fuel research
Port leaders (Fujimoto, Adams, Jordan) emphasize decarbonization benefits
Private sector (e.g., Amazon, Walmart) driving pressure for shipping cleanup
#Sustainability#Port of Tacoma#Port of Seattle#Seattle#shipping#Civic#Amazon#Northwest Northwest Seaport Alliance#Clean Tech
2. “Now Open: Yousta's Newest Store Launches in Lucknow, Uttar Pradesh by Reliance Retail”
Yousta, Reliance Retail's youth-focused fashion brand, opens a new store in Lucknow, Uttar Pradesh.
The store offers stylish and affordable clothing options to Lucknow's fashion-conscious youth.
Yousta has rapidly expanded across India, with stores in multiple states.
To celebrate the launch, a "Star of Lucknow" contest encourages customers to share photos on Instagram for a chance to win Yousta merchandise.
The store features tech-enabled amenities like self-checkout counters and charging stations.
Yousta partners with local non-profits to promote clothing donations for sustainability and community support.
#News#Article#sustainability
3. “Sanjay Gupta Promoted: From Google India Head to APAC President - A Milestone Achievement”
Google India head Sanjay Gupta promoted to APAC president, succeeding Scott Beaumont.
Gupta highlights APAC's potential for growth and innovation, especially in AI.
He aims to expand Google's footprint, invest in technical infrastructure, and support the tech community in the region.
Beaumont, the outgoing president, praised Gupta's ambition and vision.
Gupta believes APAC has a thriving tech ecosystem and governments that embrace AI as a driver of economic growth.
#innovation#AI#Google
4. “MountTech Growth Fund Spearheaded by Ex-Defence Secretary Ajay Kumar Achieves Initial Funding Milestone”
Former Defence Secretary Ajay Kumar launches MountTech Growth Fund (MGF) focusing on defence, aerospace, and deeptech sectors.
Initial close exceeds target corpus with INR 280 Cr secured and a green-shoe option for additional INR 250 Cr.
Fund supported by Suryakant Dalmia and other LPs.
MGF aims to invest in startups aligned with India's strategic needs and Atmanirbhar agenda.
Aerospace, defence, and deeptech industries gaining attention from the government, with significant funding allocated to support growth.
Startup investments reached $5.3 Bn in H1 2024.
#funding#Internet#strategic#News#startup#Startup
5. “Paytm Fined for Stamp Duty Evasion: What You Need to Know”
Paytm fined for unpaid stamp duties on employee stock options (ESOPs) from 2008 scheme.
Fines levied by Office of Collector of Stamps in New Delhi amount to INR 620.
Paytm admits to delayed submission of applications for duty payment.
Fines follow recent regulatory actions by SEBI, including a show cause notice and administrative warning letter.
Paytm's consolidated net loss widened by 134% in Q1 FY25, while revenue from operations declined by 36%.
#employee#News#war#stock
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