🌱Agritech sector’s hopes for Budget 2024

Start Your Day with YS Buzz: Your 8 AM Snapshot of Today's Top Startup News! 30 January 2024 [View in Browser]( Hello, Bharat is now at the centre of the global AI landscape. And, at YourStory, we are keeping a close eye on how the tech is shaping up and changing the way business is done. Join us at the inaugural edition of YourStory’s flagship AI event, Bharat AI Conclave, on March 15 in Bengaluru, where 300 participants—from visionary founders and developers to engineers, investors, CXOs, and policy decision-makers—will share, collaborate, and shape India's AI narrative. [Click here to register]( Moving on, the Delhi High Court ordered messaging platforms WhatsApp and Telegram to suspend accounts engaged in fraudulent activities using the names of [Peak XV]( and Sequoia Capital. The development comes after Peak XV and Sequoia Capital filed lawsuits before the Court earlier this month against unknown persons who were scamming people. In other news, Zurich-based impact-focused investor responAbility Investments will invest [$25 million]( in EV ride-hailing startup BluSmart to help it expand its charging infrastructure across India. Lastly, the board of Think and Learn Pvt Ltd, the parent company of BYJU’S, launched a rights issue to raise [$200 million]( extended to all equity shareholders. The rights issue is reportedly expected to take place with a post-money valuation of $225 million or 99% lower compared to BYJU’S previous funding round, which valued it at $22 billion. [ICYMI:]( A power nap can fix life’s many struggles. In today’s newsletter, we will talk about - Agritech sector’s hopes for Budget 2024 - Helping firms reach sustainability goals - Free medical services for migrant workers Here’s your trivia for today: Volcano boarding, or volcano surfing, involves riding down the slopes of a volcano on a thin plywood or metal board. In which country did the adventure activity originate? --------------------------------------------------------------- Union Budget Agritech sector’s hopes for Budget 2024 growth’ was one of the seven priorities enlisted in Budget 2023. Among other things, the government focused on financial support for various agricultural verticals, including fisheries and animal husbandry. This year, agritech industry stakeholders hope the Budget will include investment and technology-focused measures for startups. Wish list: - The focus on emerging technologies like AI, ML, and IoT is set to be sharper in the upcoming Budget, according to Genji Jairam, Managing Director of Farminno Tech, an Andhra Pradesh-based agritech startup. - Jairam adds that the Budget should also encourage subsidy-based machines for farmers and promote smart AI/ML-based polyhouse and greenhouse farming. - A clear regulatory framework to encourage innovation, while ensuring data privacy and security, is crucial for the sector’s growth, says Sandiip Bhammer, Founder and Co-Managing Partner of Green Frontier Capital. [Read More]( --------------------------------------------------------------- Funding Alert 1) BluSmart: $25M| Undisclosed 2) MoveInSync: $15M| Series C 3) ClearTrust: $1.9M| Pre-Series A --------------------------------------------------------------- Startup Helping manufacturing cos reduce carbon emissions in 2018, California- and Mumbai-based Eugenie enables major asset-heavy manufacturers to minimise Scope I emissions, helping them fulfill their net-zero objectives. Scope I emissions refer to direct GHG (greenhouse gas) emissions produced by a company, including those from its owned or controlled sources. Key takeaways: - As one of the world’s largest greenhouse gas emitters, India sees its largest emissions from the power sector at 37%, trailed by the agricultural sector at 21%, manufacturing at 17%, and the transportation sector at 9%, according to an IMF’s A Framework for Climate Change Mitigation in India paper. - Leveraging AI-driven digital twins—virtual replicas enhanced by AI—Eugenie facilitates real-time or near real-time tracking of machine performance and emissions data. - The startup has raised a total investment of $4.4 million from Fractal AI via SAFE, an investment instrument allowing early-stage investors to fund startups in exchange for future equity at predefined milestones. [Read More]( --------------------------------------------------------------- Inspiration Free food, medical services for migrant workers by Tirlochan Singh in 1989, Veerji da Dera offers basic medical assistance and free food to migrant workers and homeless individuals in various parts of Delhi. The organisation offers basic medical assistance in footpath clinics where doctors treat 350 to 400 people daily. Additionally, it distributes free food through langars. Service: - After Singh’s passing, his sons—Brigadier Premjit Singh Panesar and Kamaljeet Singh—took over the organisation’s management to continue their father's legacy. - Veerji da Dera sets up the five footpath clinics from 7 AM to 8.30 AM every day in Delhi’s Chandni Chowk, ISBT, Tilak Nagar, Lodhi Garden, and Jangpura areas. - Kamaljeet mentions that the volunteer team—consisting of over 350 individuals—help daily wage workers wherever required in Delhi. [Read More]( --------------------------------------------------------------- From the CapTable “Worse than being drunk”: Inside India’s terrifying pilot fatigue problem On January 8, the Directorate General of Civil Aviation (DGCA) issued revised regulations for flight duty time limitations (FDTL) for flight crew. Meant to keep a check on fatigue levels in pilots, airlines must comply with the updated rules by June 1. Among the key revisions are an increase in weekly rest periods for flight crew to 48 hours from the current 36 hours, stricter restrictions on maximum flight duty durations at night, a reduction in maximum landings during night operations, as well as a change in the definition of night flying period. The revised rules come on the heels of reports of multiple pilot deaths over the past year. These deaths coincide with the Indian aviation industry witnessing a massive post-pandemic recovery—with a record [152 million]( domestic flyers last year. This unprecedented volume has left airlines struggling to keep up with demand. At the end of the day, though, the weight of all this falls on the shoulders of pilots. Key takeaways: - The DGCA recently released revised rules on duty time limitations for flight crew to address fatigue among pilots. - As Indian carriers cater to the surge in air travel, safety experts and pilots say flight crew are often pushed to the brink of flying time limits. - Moreover, other rules meant to avoid frequent changes in schedules and publishing of rosters in advance are ambiguous and often not complied with. - Despite higher operational costs for the airlines, better management of fatigue and addressing long-running issues are key to the healthy growth of India’s aviation industry. [Continue Reading]( --------------------------------------------------------------- Namaste Doston, TechSparks ki duniya mein aapka phir se swagat hai! TechSparks, YourStory's flagship event, is set for its exciting return to Mumbai at the Grand Hyatt on February 29 and March 1, 2024. It's more than just a conference; it's a hub for the brightest minds in startups and tech. Here, you'll have the chance to engage with India's top investors and business innovators. Whether you're looking to pitch your ideas, seek funding, or form new partnerships, TechSparks is the place to be. This event is an incredible opportunity for networking with a select group of motivated individuals and leaders. It's a platform to share ideas, learn from industry pioneers, and contribute to shaping the future of tech in India. [Get Your Passes Today!]( --------------------------------------------------------------- News & Updates - [Debt crisis:]( Chinese property giant Evergrande has been ordered to liquidate by a Hong Kong court. Judge Linda Chan said "Enough is enough" after the troubled developer repeatedly failed to come up with a plan to restructure its debts. - [Revenue surge:]( Microsoft is expected to report a 15.8% jump in quarterly revenue, its best growth in nearly two years, as rising adoption of its products infused with generative AI fuels demand for its cloud services. Its quarterly results are expected on Thursday. - [A no-go:]( Amazon and robot vacuum maker iRobot would end their plans to merge in the face of opposition from EU antitrust regulators. iRobot announced a significant restructuring plan to reduce costs, adding it would cut about 31% of its workforce or 350 jobs. The company also said Colin Angle has stepped down as its CEO. Did you know? Volcano boarding, or volcano surfing, involves riding down the slopes of a volcano on a thin plywood or metal board. In which country did the adventure activity originate? Answer: Nicaragua. The origins of the extreme adventure activity can be traced back to 2004 when Australian adventurer Darryn Webb skidded down the slope of the 2,388-foot-tall Cerro Negro volcano outside the city of León. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](