🌐 Rajeev Chandrasekhar wants to build an internet for all

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29 April 2023 View in Browser

Hello,   VC funding made a sharp comeback in the last week of April, comparably…   Indian startups raised $124 million from April 24-28, quite the revival from the $18 million raised in the previous week. The largest deal was closed by logistics services startup Xpressbees, which raised $40 million from Khazanah Nasional Berhad in a secondary transaction.   ICYMI: Inside Dominica’s quest to become the world’s first ‘climate-resilient’ nation.   Elsewhere, pandemic-darling Clubhouse is slashing over 50% of its workforce to ‘reset’ the company. The social audio app, which gained prominence in 2020 as an invite-only iOS platform, started losing steam as the world started opening up post-COVID-19.    “To find its place in the world, the product needs to evolve. This requires a period of change," wrote co-founders Paul Davison and Rohan Seth said in an internal memo, which was shared on the company's blog.   Lastly, here’s a bunch of 80-year-old Japanese men playing soccer.   Sometimes, age really is just a number.   In today’s newsletter, we will talk about  Building an inclusive internet Why bet on human translators? Finding solace in theatres Here’s your trivia for today: What came first: the match or the lighter?

Interview Building an inclusive internet The Digital India Bill seeks to modernise outdated laws, promote digital inclusivity, and ensure a secure online experience for India's rapidly growing internet user base.    In conversation with YourStory’s Founder-CEO Shradha Sharma, Rajeev Chandrasekhar, Minister of State for Electronics and IT, Skill Development and Entrepreneurship, explains how he will solve them.   Digital India: The Bill has provisions for upholding the constitutional rights of the citizens. A special emphasis is placed on Article 14, Article 19, and Article 21. The proposed Act envisions a legal framework for internet usage with global standards. A set of checks and balances will also be implemented in artificial intelligence, gaming, and metaverse areas.  The minister says that while almost 45% of internet users in the country are women, gaps exist because of households predominantly owning one electronic device. Read More

Top Funding Deals of the Week   1) Xpressbees: $40M|Undisclosed 2) Lokal: $14.6M|Series B 3) Niro: $11M|Series A

Startup Why bet on human translators?Even as generative AI tools like ChatGPT have begun to impact the translation industry, Delhi-based Kalakrit is keeping its "100% human-based solutions" front and centre of its translation and voice-over offerings.    Founded in 2021 by Sehaj Kohli, Kalakrit offers translation, transcription, voice-over, dubbing, subtitles, and interpretation services. So far, it has worked on more than 350 projects across 150 languages.   Translate please: The B2B startup specialises in marketing localisation, BFSI, sworn translations, and voiceovers in various Indian languages. It specialises in 15 linguistic subject domains, including finance, legal, medical, and technology, among others. It says its solutions have 98-99% accuracy. Kalakrit generated about Rs 11 lakh in revenue in FY21, Rs 34 lakh in FY22, and Rs 7.5 lakh in the last month. It is projected to generate Rs 1.5 crore in revenue by the end of 2023. Read More

Startup Saturdays with Shradha Sharma

YourStory is proud to present "Startup Saturdays with Shradha Sharma", an exciting and unique LIVE show hosted by Shradha Sharma, Founder and CEO of YourStory. The show is exclusively available on our LinkedIn page and airs every Saturday at 6 PM.   Tune in to see a first-of-its-kind opportunity for early and mid-stage startups to showcase their products and ideas without the luxury of a retake or a chance to tweak their pitch.    And if you want to join us, fill out this form to get a chance to pitch your startup in front of YourStory's audience alongside Shradha Sharma. Watch Now

Entertainment Finding solace in theatres While he dons many hats—juggling between the creative mediums of theatre, films and OTT like a charm, Akarsh Khurana’s flair for multi-tasking reflects in this conversation as he navigates different subjects with such ease.    In a no-holds-barred chat with YS Life, the celebrated writer-director opens up about his journey in theatre, multiple creative pursuits, and why he believes theatre is here to stay.   Man of mediums: Growing up in a house where art was always at the fore, Khurana began taking part in dramatics in school, and by the time he reached college, he began acting and directing plays.  For Khurana, the turning point in his career came when he entered Thespo-India’s premier international youth theatre movement in 2000. His plays Dekh Behen, The Interview, All About Women, and The Verdict deal with contemporary subjects, representing his love for slice-of-life content and all things relatable to the average person.  Read More

News & Updates Public debut: Reliance is planning to list Jio Financial Services as soon as October. The conglomerate is in talks with Indian regulators to secure the necessary approvals for the debut, and is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit. Bounced back: Amazon reported a profit of $3.2 billion for the first quarter, up from a loss of $3.8 billion a year ago, and far exceeding analysts' estimates. The swing to a profit comes as it has ramped up its cost-cutting, including two rounds of layoffs, cancelled products, and nixed physical store expansions. Growth plans: Mastercard will expand its cryptocurrency payment card programme by seeking more partnerships with crypto firms even as the sector comes under closer scrutiny. The company already offers crypto-linked cards in some countries in partnership with Binance, Nexo, and Gemini.

Here's what else we have for you   Scale your startup in South Korea with the world’s best ICT Infrastructure In association with K-Startup Grand Challenge   There are many compelling features that make South Korea an ideal place to scale a tech startup. For one, it is the world’s most connected country with 100% of LTE coverage. If you’re looking to startup or expand here, the K-Startup Grand Challenge 2023 - an annual competitive accelerator programme held in Seoul, is just the thing for you. 60 startups selected will each be eligible for $10,840 grants and compete for a $270,000 prize pool among many compelling benefits. Last date to apply 14 June, 2023.  Know More

Did you know?   What came first: the match or the lighter?   Answer: The lighter, which was invented in 1823. On the other hand, the first match was made in 1826.

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