AdvantEdge has more cash for EV startups

Hello,

Who becomes an entrepreneur?

It takes creativity, persistence, and tenacity to start and run a business, which is why it is not surprising that the world’s most successful companies were established by neurodivergent founders–those who couldn’t fit into the framework of traditional career paths. Here’s an infographic that explores the connection between entrepreneurship and mental health. 

Also, while in the popular imagination, Silicon Valley startup founders are young whizz kids, at least one study has shown that the mean age for founding a startup is 41.9 years old. 

And now, what makes a good investor?

According to Berkshire Hathaway Chairman Warren Buffett, successful investors are keen learners. 

“I’m not going to be able to learn the technical aspects of businesses. It’d be nice if I knew it, but it isn’t essential. ... We’ve got a business at Apple ... I don’t understand the phone at all, but I do understand consumer behavior. ... We’re learning all the time, from all of our businesses. ... We don’t get smarter over time, we ... get a little wiser, though, following it over time,” Buffett said at the company’s annual shareholder meeting on Saturday. 

The meeting saw Buffett and Vice Chairman Charlie Munger tackle questions from investment strategy to artificial intelligence and politics–some serious and others, not so much. Here’s more wit and wisdom from Buffett and Munger. 

In today’s newsletter, we will talk about 

• AdvantEdge has more cash for EV startups 
• A nurse keeping Andaman tribes healthy
• Small businesses  embrace AI for marketing  

Here’s your trivia for today: In 2010, Kathryn Bigelow became the first woman to win the Academy Award for directing. Which was the film?

Venture capital

AdvantEdge to back more EV startups 

Rapido-backer AdvantEdge is back with a third fund to invest $80 million-$100 million in mobility solutions companies, its founding partner, Kunal Khattar, told YourStory in an exclusive interview. 

Through Fund III, Khattar says he intends to make a substantial investment in companies that specialise in decoupling the battery from the EV—an approach he says will not only result in making EVs more accessible, but also facilitate a change in people's perception of owning a personal electric vehicle.

EV playbook:

• AdvantEdge has invested around $50 million across 30 deals via its first and second funds. 
• Its portfolio of companies includes Zingbus, Exponent Energy, Grip Invest, Chalo, and Electorq. 
• The VC company says its existing limited partners, Motherson Group and the Hero Motocorp family office, have invested in Fund III.

Inspiration

Healthcare for remote Andaman tribes

Shanti Teresa Lakra has spent more than two decades bringing healthcare services to the Onge tribe, who live in Dugong Creek, a remote area of Little Andaman.

From the tsunami in 2004 to the COVID-19 pandemic, the Florence Nightingale Award and Padma Shri winner has dedicated her life to improving access to medical aid in the region.

Healing touch:

• Lakra serves in the Special Ward, especially meant for Particularly Vulnerable Tribal Groups (PVTGs) referred from different primary health centres (PHCs) of tribal and remote areas.
• During the Covid-19 pandemic, Lakra and the team travelled to various tribal settlements, often for 5-6 hours in a dinghy, traversing high waves, not knowing whether they’d return to their camp.
• She has been recognised as one of the top 10 finalists for Aster Guardians Global Nursing Award 2023, where one nurse will win the grand title award of $250,000 at an event in London on May 12, celebrated as International Nurses Day.

SMB

Small businesses embrace AI for marketing 

While the debate over the potential of ChatGPT in changing workplace processes rages on, companies have begun to quietly embrace the new technology to enhance their productivity. 

From drafting proposal emails to social media posts, blogs, and captions, companies of all sizes are using AI to fulfill their marketing needs. But can AI replace humans?

Into the AI age:

• According to a Small Business, Mighty Marketing LinkedIn survey released recently, 68% of Indian SMBs plan to increase their digital marketing spend; of these, one in three SMBs are inclined towards marketing automation, AI, and online communities in 2023.
• AI marketing tools are enabling SMBs to devise creative digital marketing strategies that address their business needs and tailor their communication with customers based on actionable insights derived by AI.  
• According to an IndustryARC report, artificial intelligence in the SMB market is estimated to reach $90.68 billion by 2027 globally, growing at a CAGR of 22.10%.  

News & updates

• A record: For the first time, surgeons have successfully repaired a major malformation in the brain of a fetus. Guided by ultrasound, surgeons from Boston Children's Hospital and Brigham and Women's Hospital in the US used a surgical technique called embolization to treat a rare prenatal condition.
• In limbo: The fate of 1.2 billion euros ($1.3 billion) worth of unsold Yeezy stock is weighing on the German sportswear company Adidas as it tries to engineer a turnaround from the loss of the lucrative sneaker line and the continued fallout over its former ties to rapper Ye, who was formerly known as Kanye West.
• The invasion: It took three separate waves of modern humans to colonise Europe between 54,000 and 42,000 years ago. That is the key conclusion of scientists who have been studying caves in the Rhone Valley where they have discovered evidence that Homo sapiens had to make a trio of determined attempts to head westwards and northwards from western Asia before they could establish themselves in the continent.

In 2010, Kathryn Bigelow became the first woman to win the Academy Award for directing. Which was the film?

Answer:  The Hurt Locker. In 2010, Kathryn Bigelow became the first woman in history to win the best director award at the Oscars.

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