Known for its investments in consumer brands, early-stage venture fund Fireside Ventures unveiled ambitious plans for the years to come. And this includes taking each of its brands to Rs 1,000 crore in revenues, and building 25 iconic consumer brands over the next 15 years, including a few 'unicorns' in the next decade. “There is an emergence of young brands, and we believe we can set ambitious targets for growth because consumption is on the rise in India,” said Kanwaljit Singh, Managing Partner at Fireside Ventures.
Facebook gears up to fight fake news ahead of 2019 elections
With India’s 2019 general elections around the corner, Facebook has come up with a strategy to fight fake news and launch transparency tools. As part of this initiative, the social media giant will set up two regional operations centres, in Dublin and Singapore to track election integrity and monitor Facebook, WhatsApp, Instagram and Messenger. These teams will add a layer of defence against fake news, hate speech, and voter suppression, the company said in an official blog post.
Apple rumoured to be working on ‘Netflix for games’
If rumours are to be believed, Apple might be working on a subscription-based gaming service, dubbed ‘Netflix for games’ by media reports. If everything goes as planned, the service would allow subscribers to access a select list of game titles for a certain fee. The iPhone maker is already said to have initiated discussions with game developers in the second half of 2018, but until the company gives an official nod, it’s wise to take this piece of news with a pinch of salt.
This Indian startup cuts the cost of putting satellites in space
Bellatrix Aerospace, founded in 2015, is one of the many companies trying to gain a slice of the pie that is space exploration. The startup’s claim to fame is an indigenous electric propulsion system for satellites, called Microwave Plasma Thrusters (MPT). Through the MPT, Bellatrix offers its customers the ability to take bigger payloads into space at a reasonable cost. What’s even better? It’s an eco-friendly and a cleaner alternative to the existing electric propulsion.
How NorthMist is riding the sustainable clothing trend
With a growing number of consumers turning to eco-friendly, organic and sustainable clothing options, Bengaluru-based NorthMist is carving a niche for itself. Launched by Smrity Gupta and Arijit Mazumdar in March 2018, the company manufactures organic men’s t-shirts, and sells them across India. NorthMist has already launched two collections, and is preparing to launch its third one this summer.
SBI alleges Aadhaar data misuse, UIDAI denies charges
State Bank of India (SBI) has alleged misuse of Unique Identification Authority of India (UIDAI) data. According to media reports, SBI officials are said to have informed the UIDAI that the logins and biometrics of their operators were misused to generate unauthorised Aadhaar cards. The charges, however, were rubbished by UIDAI who claimed that the Aadhaar database was completely secured, and no breach had taken place.