HCL Technologies expects to double its semiconductor services business in three to four years.
Electric mobility start-up DAO EvTech plans to invest INR 100 crore in Tamil Nadu and employ around 2,000 people by 2025.
India’s nominal per capita income doubled to Rs 1,72,000 in 2022-23 compared to Rs 86,647 in 2014-15. However, heterogeneity in income distribution remains a challenge, according to data from the National Statistics Office (NSO).
In other news, UN Member States have agreed to a unified convention to protect the biodiversity of the high seas. The agreement represents a turning point in the fight for conservation in a region that has been plagued by a complex patchwork of international law.
Prosthetic limbs have been around for some time. Now roboticists and engineers are asking another question: Will extra fingers and arms help humans work more efficiently?
Finally, National Geographic photographer Kilii Yüyan shares tips for taking great photos with your phone.
In today’s newsletter,
- Zoomcar pivot and launch failure
- Keeping a 1,300-year-old art form alive
- Product Market Fit with Jen Abel of JJellyfish
Here’s today’s trivia: Who is Eton’s dystopian companion who taught George Orwell at his college, famous for novels like Animal Farm and 1984?
Mobility
Zoomcar launch failure
Car-sharing service provider Zoomcar’s decade-long journey in India has been a tumultuous one marked by a series of pivots and strategic moves that have gone awry for the company. Currently, the company plans to be listed on NASDAQ by adopting the SPAC (Special Purpose Acquisition Company) route.
Out of fuel:
- Zoomcar will merge with blank check Innovative International Acquisition in a deal worth $456 million.
- It has raised $264 million to date from investors including Sequoia Capital, Mahindra & Mahindra, and SternAegis.
- The company has not made a net profit so far and reported a loss of Rs.735.6 million on a profit of Rs.230.23 crore for the financial year 2021-2022. 19 due to Rs 427.41 crore for the fiscal year 2020-2021.
![Zoomcar multiple pivots](https://images.yourstory.com/cs/2/9dcea4f0645711ebb0265b80588e9ad2/ZoomCarGraphicsTimeline-1678003994362.jpg?fm=png&auto=format&w=800)
Inspiration
Preserving a 1,300-year-old art form
Kasti is a 1,300-year-old traditional folk craft with a Geographical Indication (GI) tag, found mainly in northern Karnataka states such as Darwad, Hubli and Bijapur. In Kannada, kai means ‘hand’ and suti means ‘cotton thread’ and refers to the work done with hands and cotton thread.
Artikrafts founder Arati Hiremath has maintained this art form for the past 30 years.
Knitting magic:
- Finance Minister Nirmala Sitharaman wore a red silk saree made by Artikrafts on Budget Day 2023.
- Artikrafts has an annual revenue of around Rs 400,000, has negligible overdrafts and minimal investments.
- Its clients include Fabindia, iTokri, Jaipur.com, and ajio. We are also planning to launch our own website in the near future.
![articraft](https://images.yourstory.com/cs/4/d4ffdb60a78511eda2036d5930e44559/800X400AratiHiremath1-1677996416274.png?fm=png&auto=format&w=800)
interview
Product Market Fit with Jen Abel at JJellyfish
With JJellyfish, Jen Abel has helped global startups and Fortune 500 companies on their journey from 0-1 to 1-10 in the US. She is an early stage startup and she has 10 years of experience in her first market launch and execution.
ABC:
- When startups don’t find product-market fit, it’s usually because they made a mistake selling in the early stages, Abel said.
- According to Abel, waiting (for startup founders) to enter the US market is futile. She says the longer you wait to enter the market, the harder it will be to find a product-market fit.
- Startup founders will do well if they have patience while the company grows. Abel says it will take time anywhere to reach his first million, but in the US it will take longer than you might imagine.
![Jen Abel](https://images.yourstory.com/cs/2/11718bd02d6d11e9aa979329348d4c3e/Image8t7k-1677927233349.jpg?fm=png&auto=format)
news and updates
Moderate growth: China has set a growth target of “around 5%” for 2023, according to Premier Li Keqiang’s government work report released on Sunday.
Takeoff: The Japan Aerospace Exploration Agency (JAXA) attempted to debut its new flagship rocket H3 on February 16, but the attempt was aborted when the vehicle’s two solid-rocket boosters failed to fire as planned. I was. His next launch is scheduled for March 7th. The satellite will then probe the Earth in detail for various applications.
The missing piece: A new technique known as proteomics allows researchers to identify the proteins our ancestral bodies were built on, yielding new insights into the past two million years of human history. I believe.
Who are the dystopian friends who taught George Orwell at Eton College, famous for his novels like Animal Farm and 1984?
Answer: Aldous Huxley.The author of Brave New World taught George Orwell French at his College of Eton
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