Tech & Venture Highlights

• Naxatra Labs Secures Seed Funding: the electric vehicle tech startup Naxatra Labs announced it had secured an undisclosed amount in its seed funding round. The round was co-led by GVFL, Delhivery founder Mohit Tandon, and Aspiring Minds founder Himanshu Aggarwal, with participation from Rainmatter by Zerodha and Paytm founder. This investment is poised to help the startup further its mission in the EV sector.

• Masayoshi Son's Vision for India: Masayoshi Son of SoftBank outlined his vision to transform India into a global chip manufacturing hub, particularly highlighting the role of artificial intelligence in reshaping technology landscapes. This vision was shared during interactions with founders and senior executives from SoftBank's India portfolio.

• Stellaris Venture Partners Fund Closure: Stellaris Venture Partners, an early investor in Mamaearth, closed its third India-focused fund at $300 million. This closure was announced on December 25, 2024, marking it as one of the quickest scale-ups for a domestic early-stage venture capital firm dedicated to seed and Series A rounds. https://economictimes.indiatimes.com/tech/funding/stellaris-venture-partners-closes-third-fund-at-300-million/articleshow/115739431.cms?from=mdr

• Kenro Capital's Launch: Also on December 25, 2024, Piyush Gupta, formerly of Peak XV Partners, launched Kenro Capital, a new venture capital firm focusing on secondary transactions in the startup ecosystem. https://www.livemint.com/companies/news/former-peak-xv-md-piyush-gupta-s-kenro-capital-to-target-20-30-mn-secondary-deals-in-fintech-consumer-tech-firms-11732716901300.html

• Incubate Fund's Strategy: Tokyo's Incubate Fund announced on December 25, 2024, its strategy to take Indian fintech solutions to Japan and Southeast Asian markets, acknowledging the scale at which Indian fintech startups operate could benefit financial services in other regions.

• Healthkart Achieves Profitability: On the same day, Healthkart, based in Gurugram, reported swinging to profit in FY24 with revenues topping Rs 1,000 crore, marking a significant achievement in the health-tech sector.

• Google's AI model was reported to outperform the top weather forecast system, marking a significant advancement in AI applications for weather prediction

• Engineering researchers developed a revolutionary method for massively producing ultrathin and ultra-flexible diamond, which could have wide applications in technology

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