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Judge temporarily blocks Trump's ban on TikTok downloads
short by Ankush Verma / on 28 Sep 2020,Monday
A US judge has temporarily blocked a Trump administration order banning Apple and Google from offering Chinese-owned short video-sharing app TikTok for download. However, the judge declined to block other Commerce Department restrictions set to take effect on November 12 that TikTok has said would have the impact of making the app impossible to use in the country.
short by Ankush Verma / 08:30 am on 28 Sep
Bangalore International Airport Limited (BIAL) and Virgin Hyperloop on Sunday signed a Memorandum of Understanding (MoU) to conduct a feasibility study for a hyperloop corridor from Kempegowda Airport to the city. The corridor could reduce the travel time to 10 minutes, said Virgin Hyperloop. There have also been talks of hyperloop routes between Mumbai-Pune and Vijayawada-Amravati in the past.
short by Rishabh Bhatnagar / 01:49 pm on 27 Sep
Tesla CEO Elon Musk thanked his employees for "great work", calling the third quarter "definitely one of Tesla's toughest quarters in global logistics." Last week, Musk wrote an e-mail to employees urging them to make and sell as many electric cars as possible before September 30. "We have a shot at a record quarter for vehicle deliveries," he had said.
short by Pragya Swastik / 03:01 pm on 27 Sep
Skyroot unveils India's 1st privately developed Cryogenic Rocket engine
short by Pragya Swastik / on 27 Sep 2020,Sunday
Skyroot Aerospace unveiled 'Dhawan-I', which the Hyderabad-based space startup claims is India's first privately developed indigenous fully Cryogenic rocket engine which runs on Liquid Natural Gas. The 100% 3D printed engine is named after renowned Indian rocket scientist Dr Satish Dhawan. A cryogenic engine uses liquid fuel and an oxidizer that is maintained at extremely cold temperatures.
short by Pragya Swastik / 02:32 pm on 27 Sep
Tesla CEO Elon Musk in a reply to a Twitter user said, "OpenAI is essentially captured by Microsoft." The user had commented on Microsoft getting an exclusive licence to OpenAI's GPT-3, a natural language AI-powered tool, saying OpenAI should be renamed to "ClosedAI". "This does seem like the opposite of open," Musk wrote.
short by Aishwarya / 04:29 pm on 27 Sep
Australia's Piedmont Lithium has signed a five-year deal to supply high-purity lithium ore mineral to Tesla. The initial agreement entails the supply of about a third of Piedmont Lithium's planned 1.6 lakh-tonnes-per-year spodumene concentrate production. The deal is conditional upon both companies agreeing to start deliveries between July 2022 and July 2023, Piedmont Lithium said.
short by Aishwarya / 04:29 pm on 28 Sep
Tesla will probably make 20 mn EVs a year by 2030: Elon Musk
short by Aishwarya / on 28 Sep 2020,Monday
Tesla CEO Elon Musk has said that Tesla will "probably" produce 20 million electric vehicles a year by 2030. However, he added that this would require "consistently excellent execution". In the fourth quarter of 2019, Tesla had achieved record production of almost 105,000 vehicles and record deliveries of approximately 112,000 vehicles.
short by Aishwarya / 09:07 pm on 28 Sep
Super app model won't work in India: Hike Founder Kavin Mittal
short by Rishabh Bhatnagar / on 28 Sep 2020,Monday
Hike Founder Kavin Mittal said that super apps are "not the best path forward from a user experience standpoint" and they won't work in India. He said they can work in markets like China where there's no competition. Super apps offer various services under one umbrella, such as ticketing, food delivery, messaging among others.
short by Rishabh Bhatnagar / 02:56 pm on 28 Sep
John Hall, a lawyer for TikTok, told a US judge that the US government's TikTok app store ban is "irrational". "How does it make sense to impose this...ban tonight when there are negotiations underway that might make it unnecessary?" Hall asked. US commerce department's TikTok app store ban is set to take effect on September 27 at 11:59 pm EDT.
short by Aishwarya / 10:23 pm on 27 Sep
TikTok owner ByteDance is Chinese Communist Party's mouthpiece: US
short by Rishabh Bhatnagar / on 27 Sep 2020,Sunday
US' Department of Justice (DOJ) called TikTok's parent company ByteDance a "mouthpiece" for the Chinese Communist Party (CCP) in its response to the app's request to delay the partial ban starting on Sunday. It alleged that ByteDance's CEO is "committed to promoting" the CCP's agenda and said that US user data being stored outside of the US can present risks.
short by Rishabh Bhatnagar / 02:42 pm on 27 Sep
Tesla CEO Elon Musk on being asked whether he is voting for US President Donald Trump in a podcast said, "Let's just see how the debates go." He added that the debates are probably the thing that would decide things for America. Musk said people just want to see if Democratic presidential candidate Joe Biden has "got it together".
short by Aishwarya / 10:35 pm on 28 Sep
Tesla CEO Elon Musk in a podcast said he feels a "bit bad about hating on the oil and gas industry". He said most of the older workers built their companies before it was clear how serious the climate crisis issue was. "Now they feel probably hard done by, that people are making them out to be villains," he said.
short by Aishwarya / 11:10 pm on 28 Sep
China's EV startup Xpeng unveils its air taxi prototype
short by Aishwarya / on 27 Sep 2020,Sunday
Chinese EV-maker Xpeng at an event revealed a prototype of an electric and vertical takeoff air taxi Xpeng Heitech, an air taxi startup, is developing with a focus on lower altitudes of 5-25 metres. It can hold up to two passengers and has a capsule-like frame with eight propellers. Xpeng and its CEO He Xiaopeng have invested in Xpeng Heitech.
short by Aishwarya / 07:00 pm on 27 Sep
BigBasket in talks with Singapore's Temasek to raise $100 mn: Report
short by Rishabh Bhatnagar / on 28 Sep 2020,Monday
Bengaluru-based e-grocer BigBasket is reportedly in talks with Singapore's sovereign wealth fund Temasek to raise up to $100 million in funding. Existing investors including Mirae Asset and CDC Group are also likely to join. The platform had raised $50 million in April this year from Alibaba and other investors. The valuation will reportedly be the same as in April.
short by Rishabh Bhatnagar / 01:40 pm on 28 Sep
Gurugram-based healthtech startup Pristyn Care raises ₹86 crore
short by Rishabh Bhatnagar / on 28 Sep 2020,Monday
Gurugram-based healthtech startup Pristyn Care has raised ₹86.14 crore in Series C funding led by Epiq Capital. Hummingbird Ventures, Redwood Trust and SCI Investment also participated in the round. Founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney, Pristyn offers advanced surgical care through innovative surgical techniques and claims to have performed over 10,000 surgeries.
short by Rishabh Bhatnagar / 03:43 pm on 28 Sep
Bengaluru startup Smallcase raises ₹99 cr from Sequoia, others
short by Aishwarya / on 26 Sep 2020,Saturday
Bengaluru-based investment tech startup Smallcase funding is raising ₹99 crore in a mix of equity and preference shares as a part of its Series B round. The round saw participation from DSP Asset Management Firm, Sequoia's SCI Investment V and BEENEXT, among others. Founded by Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, Smallcase helps users invest in stock markets.
short by Aishwarya / 09:21 pm on 26 Sep
Mindtree Co-founder Krishnakumar Natarajan and his family sold over 4.66 lakh shares in the startup for ₹42 crore between September 15-23. The sale reduced their combined shareholding to 2.01%, filings revealed. Earlier this month, another filing had revealed that Natarajan and his family sold over 42 lakh shares in the startup in multiple tranches between April 30-September 14.
short by Aishwarya / 11:21 pm on 26 Sep
Paytm Mall loss down by 60% to ₹479 crore in FY20
short by Aishwarya / on 26 Sep 2020,Saturday
Paytm Mall has reported a fall of 60% in its loss to ₹479 crore in FY20 than ₹1,171 crore it reported in FY19. Its total revenue declined by about 27% to ₹703 crore as compared to ₹968 crore. Paytm Mall attributed the fall in its loss to a reduction in assortment size, cashback and promotions.
short by Aishwarya / 09:56 pm on 26 Sep
SpaceX's Starship SN8 prototype will attempt to fly to a height of 50,000 feet instead of 60,000 feet. SpaceX CEO Elon Musk shared an image of the prototype under construction with its rear body flaps on. He added that it will be getting its nosecone and front flaps next week. The Starship SN9 prototype is due in October.
short by Aishwarya / 06:52 pm on 27 Sep
Indian traders' body CAIT will be launching its own nationwide e-commerce portal 'BharatEMarket' in October. The platform will allow local traders to have an e-store and a digital payment system. It will also reflect the nearest stores as first preference. The pilot project of the initiative has already begun in Madhya Pradesh where traders have individual e-stores.
short by Aishwarya / 09:30 pm on 27 Sep
Fashion startup Zilingo CFO James Perry has resigned and will be returning to Citigroup where he had worked for over 22 years, Bloomberg reported. He will be returning as Singapore-based Managing Director and co-head of technology investment banking for Asia-Pacific. Zilingo, which has been cutting jobs this year, cut an additional 12% of its total workforce in July.
short by Aishwarya / 07:58 pm on 28 Sep
Flipkart gets $560M in 2nd tranche of Walmart-led $1.2B funding
short by Aishwarya / on 26 Sep 2020,Saturday
Flipkart has received around $560 million in the second tranche of its Walmart-led $1.2 billion funding round announced in July. Qatar Investment Authority (QIA) also participated in the round. Post the investment, Walmart's stake in Flipkart stands at 82.3%, while QIA controls 1.45%, Entrackr reported. Earlier, Tencent had invested $62.8 million in Flipkart and now owns 5.21% stake in it.
short by Aishwarya / 05:05 pm on 26 Sep
The US Space Force's SMC and SpaceX have signed a contract modification to reuse a Falcon 9 first-stage booster for the first time on a National Security Space Launch mission. It will launch two critical Global Positioning System missions next year. SMC officials said the deal will result in savings of nearly $53 million for American taxpayers across the flights.
short by Aishwarya / 09:20 pm on 27 Sep
The Licensed Taxi Drivers' Association, which represents London's Black cab drivers, said the decision to restore Uber's operating licence is a "disaster" for London. "Uber has demonstrated...that it...can't be trusted to put the safety of Londoners, its drivers and other road users above profit," it said. However, Uber has said the decision is a recognition of its work on safety.
short by Aishwarya / 06:41 pm on 28 Sep
Agri finance startup Samunnati raises $20 mn from US' DFC
short by Rishabh Bhatnagar / on 27 Sep 2020,Sunday
Chennai-based agriculture finance platform Samunnati has raised $20 million in debt from US' International Development Finance Corporation (DFC). The funding will help expand financing and technical assistance to low-income farmers and enterprises in India, said the startup. Founded in 2014 by Anil Kumar SG, Samunnati has disbursed loans worth over ₹4,000 crore since inception.
short by Rishabh Bhatnagar / 01:37 pm on 27 Sep
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