Inclusive learning for the visually impaired; Visiting the birthplace of Juneteenth

Hello,

Ixigo has taken to the skies.

The travel booking company wasted no time on its first day of trading, opening 49% higher than its issue price and hitting the upper 20% circuit by afternoon.

ixigo shares were trading at Rs 165.72 by market close. That’s a stellar 78% jump from the issue price!

Elsewhere, Paytm’s independent director Neeraj Arora resigned from the board of directors, citing personal commitments. The former WhatsApp chief business officer was appointed as an additional director to One97 Communications’s board right before its IPO in 2021.

Meanwhile, Google is bringing its dedicated AI mobile app Gemini to India—over four months after its debut in the US—with support for nine Indian languages alongside English.

ICYMI: Move over flashy labels; discreet luxury fashion is the way to go, according to China’s elite.

In a historic win, Thailand is set to become the first Southeast Asian nation to legalise same-sex marriage after the kingdom’s Senate voted overwhelmingly in favour of passing the marriage equality Bill on Tuesday.

The Bill still requires endorsement from the king before marriage equality can become a reality, but this process is largely considered a formality.

A small step for the world, a giant leap for love.

In today’s newsletter, we will talk about 

• Inclusive learning for the visually impaired
• Visiting the birthplace of Juneteenth
• Bira 91 raises $25 million

Here’s your trivia for today: Which US President signed the legislation making Juneteenth a federal holiday marking the emancipation of enslaved black Americans?

Women Entrepreneurs

Inclusive learning for the visually impaired

In 2017, Akshita Sachdeva started Trestle Labs and developed its innovative solution Kibo, which can listen, translate, digitise, and “audiotise’ printed, handwritten and digital content across 60 languages.

“A young boy used it and was super excited to read the newspaper for the first time. We also put some chairs in his way and he was able to navigate using the glove,” she recalls.

Assistive tech:

• After the pilot, Trestle Labs started getting inbound orders from institutions like the Nashik Municipal Corporation and IIM-Ahmedabad—this was the first time in India an assistive tech tool was focused on Indian language support.
• In the next six years, the device evolved to its present iteration, which supports 60 global languages and includes 13 Indian languages.
• Kibo also featured on Shark Tank India Season 3, where it raised Rs 60 lakh for 6% equity. Sachdeva was also among three Indian women who were awarded the 2024 Cartier Women’s Initiative Fellowship.

Funding Alert

Startup: Aye Finance

Amount: Rs 250 Cr

Round: Debt

Startup: Bira91

Amount: $25M 

Round: Series D 

Startup: Shivalik Small Finance Bank 

Amount: Rs 100 Cr

Round: Equity

Travel & Leisure

Visiting the birthplace of Juneteenth

Juneteenth, observed on June 19 and also called Emancipation Day, is a federal holiday that commemorates the end of slavery in the US. It may be observed across the US, but Galveston, an island city in Texas, is renowned as the birthplace of this “Freedom Day”. 

Independence day:

• Like all holidays, Juneteenth is celebrated with prayers, picnics, and parades. Alongside the revelry, the community also honours the legacy of the holiday and its deep symbolism.
• Galveston’s Old Central Cultural Centre hosts a special Juneteenth breakfast every year. Held on the grounds of Ashton Villa, it includes a re-enactment and a ceremonial reading of General Order No. 3, proclaiming freedom for slaves in Texas.
• The Galveston and Texas History Centre documents African-American life in Galveston in detail, from slavery and the Jim Crow laws to Juneteenth and the Civil Rights movement. 

Funding

Bira 91 raises $25 million

Craft beer manufacturer Bira 91 raised $25 million in Series D financing from existing investor Kirin Holdings Singapore, according to the document filed by the company with the Ministry of Corporate Affairs. The company has agreed to avail the external commercial borrowing in two tranches of $12.5 million. 

Key takeaways:

• Bira 91 has also agreed to provide Kirin Holdings with an option to convert the outstanding borrowings into Series D Compulsorily Convertible Cumulative Preference Shares of the company. 
• The funding round comes a few months after Bira 91 raised $25 million from Tiger Pacific Capital in March 2024. This brings the total money the Delhi-based company raised to $50 million in the past three months. 
• B9 Beverages Ltd, the parent company of Bira 91, reported a 14.4% rise in its consolidated total revenue to Rs 848.7 crore during FY22-23 on a year-on-year basis.

News & updates

• Exodus: A record number of millionaires is expected to leave the UK this year, according to Henley Private Wealth Migration Report, with this year’s general election expected to further exacerbate the exodus. The report indicates that Britain will experience a net loss of 9,500 HNIs in 2024—more than double last year’s figure of 4,200.
• Upgrade: Snap has unveiled updates to its use of AI in "lenses," the special augmented-reality effects it applies to users' video communications, and upgraded its Lens Studio developer programme. A new "generative AI" tab allows better creation of assets like textures and 3D graphics directly in the tool.
• Gaffe: McDonald's is removing AI-powered ordering technology from its drive-through restaurants in the US after customers shared its comical mishaps online. In a TikTok video, a young woman becomes increasingly exasperated as she attempts to convince the AI that she wants a caramel ice cream, only for it to add multiple stacks of butter to her order.

Which US President signed the legislation making Juneteenth a federal holiday marking the emancipation of enslaved black Americans?

Answer: President Joe Biden.

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