Can India’s moon landing launch a spacetech funding bonanza?

This week’s On the Rise explores Indian spacetech’s post-moon momentum, an agritech firm’s rice decarbonization dream, and the AI copyright debate. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at - Spacetech startups in India that [are poised to take off]( after the country’s lunar landing - A Singapore-based firm looking to [decarbonize]( rice - The debate between AI-generated art and copyright laws Hello {NAME} , This has to be one of those days when I find myself swelling with pride for my Indian identity. The recent achievement of India’s lunar landing serves as a tribute to the unsung heroes who quietly contribute to the country’s progress amid the cacophony of today's media-driven world. I recall an incident of a [BBC anchor]( once questioning whether a nation grappling with issues like poverty should prioritize space exploration. We’ve come a long way since then, with venture capitalists and investors now showing heightened interest in India's spacetech startups. The success of the nation's lunar mission is likely to further boost investor appetite in the sector. In this week’s first Big Story, my colleague Lokesh talks about how many spacetech players have been getting attention from potential investors after the Chandrayaan-3 spacecraft landed on the moon. But beyond funding, investors are looking at one more piece to drive the sector ahead. Speaking of investors, bigwigs like Temasek, Wavemaker Impact, and Bill Gates-backed Breakthrough Energy Ventures are also making their way into the Indian market. However, their focus isn't on space but rather on Asia's rice fields. These industry giants have launched a joint venture called Rize, which is developing a platform that can identify and implement the best practices for reducing greenhouse gas emissions in rice farming. The litmus test for Rize: crafting a sustainable business framework that balances profitability with economic advantages for farmers. Lastly, this week’s AI Odyssey analyzes the heated debate between AI-generated art and copyright laws after a US federal judge ruled that AI-created works cannot be granted the same copyright protection as those made by humans. -- Deepti  --------------------------------------------------------------- THE BIG STORIES 1️⃣ [Can Chandrayaan-3's trip to the moon catalyze Indian spacetech funding boom?]( Local spacetech firms see more investor interest after the Indian Space Research Organization's successful lunar mission but all eyes are now on the country’s space policy. 2️⃣ [This Temasek-owned agritech firm sows sustainability into rice farming]( Rize is using methods to reduce water consumption and methane in rice cultivation and at the same time looking to build a sustainable business model.  --------------------------------------------------------------- AI ODYSSEY Promising AI topics we’re noticing [AI is not an artist, says court]( A recent US court ruling stated that AI-created artwork without human involvement is not eligible for copyright protection. It ignited a heated debate over who owns art produced by AI and whether it deserves the same copyright protection as works created by humans.  --------------------------------------------------------------- FYI 1️⃣ [Malaysia’s coffee scene heats up as foreign players take on local firms]( The specter of Chinese brands looms large as coffee chains duke it out in offering cheap caffeinated beverages. 2️⃣ [This Philippines-based VC eyes $25m SEA fund to target startups with 'can do' spirit]( Kaya Founders has been investing in Southeast Asian startups for the past two years, with majority of its funds going to Philippine firms.  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Free Fire is back in India!]( Sea Group’s Garena has launched a localized version of Free Fire in the country. This follows the Indian government’s ban of the original game last year due to data privacy issues. 2️⃣ [Rivaling OpenAI]( AI21 Labs, which builds AI systems for natural language, has raised US$155 million in a series C round from Google, Nvidia, and other investors. Following the round, the OpenAI competitor’s valuation rose to US$1.4 billion. 3️⃣ [Biofourmis CEO steps down after company laid off 120 staff]( Kuldeep Singh Rajput founded the healthtech firm in 2015. Filling his role will be a new CEO office headed by Ben Wanamaker of General Atlantic, one of Biofourmis' biggest investors. 4️⃣ [A SPAC-tacular journey]( Noco-noco made its market debut on Nasdaq last week after merging with a US blank-check firm. The Singapore-based company’s main product is a battery used in air and land transport that provides improved performance, durability, and heat resistance. 5️⃣ [Line- and Kakao-backed Web3 gaming firm makes $8m while staying profitable]( Iskra's paltform carries Web3 gaming titles across different genres. It also provides studios with resources to help with game development.  --------------------------------------------------------------- That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you soon! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? 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