Hello,
India continued to dominate the Paris Airshow for a second day on Tuesday, as Air India finalised a huge order for 470 planes from Airbus and Boeing. The carrier’s deal includes 250 planes from Airbus and 220 from Boeing.
In other news, Infosys Co-founder and Chairman Nandan Nilekani has donated Rs 315 crore ($38.5 million) to his alma mater IIT Bombay to mark his 50-year association with the institute. He’d joined the college in 1973.
Meanwhile, it is time for the great resignation 2.0. A quarter of workers surveyed by PwC expect to change jobs in the next 12 months, up from 19% last year, as they struggle to pay bills amid rising inflation and a cooling economy.
ICYMI: Speaking of inflation, Beyoncé sent Sweden’s economy into a tailspin.
The start of the singer’s world tour in Sweden last month sparked such a frenzy of demand for hotel and restaurant meals that it has shown up in the country’s economic statistics. In fact, Sweden reported higher-than-expected inflation of 9.7% in May.
Oh, and let’s take a deep dive into the world of chess photography.
It’s art—and a sport.
In today’s newsletter, we will talk about
- Why women don’t stay in tech
- Digantara raises $10 million
- Streamlining hybrid work
Here’s your trivia for today: Which dancing style will be debuting as an event at the Summer Olympics to be held in Paris next year?
Workforce
Why women don’t stay in tech
As a woman leader in tech, Rajalakshmi Sakthivel, the Senior Director at HARMAN International (India) Pvt Ltd, agrees it’s difficult to retain women in the sector. She quotes former PepsiCo CEO, Indra Nooyi, who said, “The biological clock and career clock are in total conflict with each other.” She believes there will be times when there will be a peak on both career and personal fronts.
Moving upwards:
- Sakthivel says support from the ecosystem, family, and spouses is changing the way women work.
- She says more work is needed to address the moments of self-doubt and the imposter syndrome women suffer from.
- Companies must recognise and nurture women talent at an early age. Women need to be given a career path, she adds.
<Funding Alert>
Startup: Drools
Amount: $60M
Round: Undisclosed
Startup: Digantara
Amount: $10M
Round: Series A1
Startup: Volt Money
Amount: $1.5M
Round: Pre-Seed
Funding
Digantara raises $10M
Bengaluru-based Digantara has raised $10 million in a Series A1 funding round led by Peak XV Partners (formerly Sequoia Capital India) and Kalaari Capital. The startup is working on space situational awareness (SSA) and has previously secured seed funding of $2.5 million from Kalaari in 2021.
Key takeaways:
- Japan-based VC firm Global Brain, Campus Fund, and the founders of IIFL Wealth also participated in the round.
- With the capital, the startup aims to advance its Space-Mission Assurance Platform (Space-MAP).
- Digantara’s Space-MAP programme works on the safety of space operations by addressing the current limitations in tracking space debris in Earth’s orbit.
Future of Work
Streamlining hybrid work
Started in 2021 by former Foodpanda executives Mischler and Raphael Cohen, Deskimo helps companies build a hybrid workforce. Part of Y Combinator’s Spring 21 batch, it provides on-demand access to work desks across professionally managed workspaces in the UAE, Singapore, Hong Kong, and Indonesia.
Cost cutting:
- Deskimo offers on-demand access to co-working spaces. Its app generates a QR code based on the location, letting users check in at their preferred workspace and pay per minute of use.
- The startup also operates on a B2B model, where it works with different organisations that provide budgets to their employees for using co-working spaces.
- In the UAE, Deskimo operates over 20 workspaces on a contract basis. The team is looking to add more spaces, including high-end hotels that provide meeting rooms, etc.
News & updates
- Reshuffled: Alibaba CEO and Chairman Daniel Zhang is planning to step down this year. Eddie Yongming Wu will become CEO, while Joe Tsai will take over as chairman on September 10. The two executives are Alibaba veterans and close confidants of founder Jack Ma.
- Diversifying: Google is scouting for suppliers in India to assemble its Pixel smartphones, initiating early conversations with companies including homegrown Lava and, as well as Foxconn Technology Group’s Indian unit Bharat FIH.
- Authorised: After General Motors and Ford, Rivian has also agreed to adopt Tesla’s charging standard, giving momentum to Tesla’s bid to set the industry standard. Customers of Rivian will be able to access 12,000 Tesla Superchargers in the US and Canada as early as spring 2024.
Which dancing style will be debuting as an event at the Summer Olympics to be held in Paris next year?
Answer: Breaking, also called breakdancing or b-boying/b-girling.
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