VC funding sees boost amid winter; Anoushka Shankar’s new album

The UGC has warned edtech firms and colleges offering degrees in collaboration with foreign universities not recognised by the body that none of these degrees will be valid. It also cautioned students against taking admission in such courses.

VC funding sees boost amid winter; Anoushka Shankar’s new album

Sunday December 17, 2023,

5 min Read

Hello,

Roadblock ahead for India’s edtechs. 

The UGC has warned edtech firms and colleges offering degrees in collaboration with foreign universities not recognised by the body that none of these degrees will be valid. It also cautioned students against taking admission in such courses. 

In other news, Adani Enterprises—the firm that holds Gautam Adani group's media interest—said its subsidiary AMG Media Networks Ltd has acquired a 50.50% stake in news agency IANS India Pvt Ltd for Rs 5.10 lakh, as the group expands its presence in the media space. 

Finance Minister Nirmala Sitharaman said the government will initiate steps to enforce the women’s reservation bill after the 2024 census.

Meanwhile, Chinese workplaces and state-backed companies across the country have asked their staff to not bring Apple iPhones and other foreign devices to work, Bloomberg reported.

For over a decade, China has been seeking to reduce reliance on foreign technologies, asking state-affiliated firms such as banks, to switch to local software. It is also promoting domestic semiconductor chip manufacturing.

ICYMI: Early risers and Neanderthals may be related. 

Well, now you know why you are up at 6 in the morning!

In today’s newsletter, we will talk about 

  • Fourth highest weekly funding in 2023
  • Anoushka Shankar’s new album
  • India’s best restaurants in 2023

Here’s your trivia for today: In the context of email, what does “CC” stand for?


Funding

Fourth highest funding in 2023

VC funding

The third week of December turned out very positive for the Indian startup ecosystem. With a single transaction from Udaan, venture funding for the week rose to become the fourth highest on a weekly basis for the year till now.

Key takeaways:

  • The total venture funding raised during the week stood at $498 million across 15 deals. In the previous week, Indian startups had raised $111 million.
  • The highest amount raised weekly in 2023 till now was $794 million in March, followed by $525 million in April and $504 million in June, as per YourStory Data.
  • Aye Finance raised Rs 310 crore (about $37.2 million) from British International Investment (BII), The Waterfield Fund of Funds, and A91 Partners.


Interview

Anoushka Shankar discusses new album

anoushka shankar

Sitarist, producer, and film composer Anoushka Shankar released Chapter 1: Forever, For Now, her latest mini album and the first of a trilogy, on October 23 during the week she began her US tour. 

It comprises four new tracks that make up the first chapter in a trilogy that she will be writing and releasing as an evolving story between tours.

All the Tea:

  • Forever, For Now begins with Daydreaming, a track that echoes the popular Carnatic lullaby Madhava Mamava, in Neelambari raga, which she had heard from her mother and her grandmother as a child.
  • The entire mini album, Anoushka sums up, has two main influences: one, as a human through parenting, and two, through life and other experiences.
  • Anoushka feels there’s a mix of optimism and sadness in the music, and the title Forever, For Now, exemplifies that if we can’t do it all the time–be kind and connect with others–we could always change for a moment and connect. 


Wine and Food

India’s best restaurants in 2023

restaurant and bars 2023

Gone are the days when Indian families would head out to restaurants on special occasions. Today, there is a thriving restaurant and bar culture that has taken the country by storm.

It’s not just food and beverage that has to score high; it’s all about the experience that includes everything from decor to service. While several restaurants and bars opened in 2023, here are a few that caught our attention!

Fine dine:

  • Translating to ‘dinner lunch’ in Italian, Cena Pranzo is helmed by Chef Mauro Ferrari. The restaurant believes in serving unpretentious Italian cuisine made with ingredients that narrate tales of Italian heritage.
  • FLOW Brew and Dine’s bar menu has been put together by one of India’s most accomplished mixologists, Yangdup Lama. It includes a variety of options from classic drinks with a unique twist and inventive concoctions.
  • Conceived by Karrtik Dhingra, Shyaam Khurana, Bipin Sibal, and Tarun Sibal, Barfly promises to bewitch patrons with its mesmerising revival of a 150-year-old Portuguese-Goan Bungalow, a true marvel to behold.


News & updates

  • Crypto rules: The US SEC denied a petition by Coinbase Global seeking new rules from the agency for the digital asset sector, which was later challenged by the crypto exchange in court. The SEC said it would not propose new rules as it fundamentally disagreed that current regulations are "unworkable" for the crypto sphere. 
  • Lawsuit: Apple has agreed to pay out $25 million to settle a class action lawsuit over its Family Sharing feature, which lets users and up to five of their family members share access to apps, music, etc. The lawsuit, first filed in 2019, alleged that “Apple misrepresented the ability to use its Family Sharing feature to share subscriptions to apps.”
  • Beginning: OpenAI CEO Sam Altman has doubled down on his vision for cryptocurrency project Worldcoin, following reports the company was seeking $50 million in funding. More than 2.6 million people have signed up to have their irises scanned by Worldcoin's "orb" devices in exchange for a digital ID and free cryptocurrency.


In the context of email, what does “CC” stand for?

Answer: Carbon Copy.


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