Breaking barriers in defence tech; green waste incinerators

Hello,

Trading is risky business, and SEBI has the numbers to prove it.

The number of intraday traders in India's equity market jumped 300% between 2019 and 2023. Seven out of ten, however, were making losses, according to a study by the regulator. 

If there’s anyone who understands risky bets, it’s Fortune 500 companies.

On that front, the tech sector disappointed, with lacklustre shows from Alphabet and Tesla in their quarterly results. 

This begs the question: is the dominance of Big Tech waning?

Elon Musk certainly doesn’t think so. Neither do the 7.43 lakh (and counting!) netizens who voted in favour of Tesla investing $5 billion into xAI in a recent X poll. 

Meta, in fact, is doubling down by rolling out its largest open-source AI model.

ICYMI: Enough for man’s greed, but not enough for man’s need? The UN blasted “shamefully high” hunger levels in a report that predicts almost 600 million people will be undernourished by 2030.

Lastly, it’s time for a rude wakeup call.

Some records aren’t meant to be broken. On Sunday, global average temperatures sizzled to 17.09℃, the hottest day ever measured by humans.

The best time to find a global solution was 50 years ago. The next best time is today.

In today’s newsletter, we will talk about 

• Breaking barriers in defence tech
• Greener, efficient waste incinerators 
• Solving large-scale national problems

Here’s your trivia for today: Who was the first woman to walk in space?

Entrepreneur 

Breaking barriers in defence tech

Fascinated with innovation in the defence sector, Priyanka Singhal entered the male-dominated industry and built Ammunic Systems.

One of the company’s landmark achievements is developing India's first fully indigenous electronic fusing system for underwater munitions targeting submarines. 

Cutting edge:

• Singhal’s first encounter with defence tech came during her internship at Defence Research and Development Organisation where she was exposed to warhead electronics, explosive initiation systems, and real-time field trials.
• Ammunic System’s early projects included trading electronic components and undertaking college projects to generate revenue. Gradually, the company began securing orders from various defence agencies, including the Army, DRDO, and the Navy.
• Despite initial scepticism from the industry, Singhal persisted. In the financial year 2024-25, Ammunic Systems is projecting a revenue of Rs 40 crore, with a company valuation rising to Rs 250 crore.

Startup 

Making waste incinerators efficient

Waste incinerators have a reputation problem. Research has shown that older incinerator technology and infrequent maintenance schedules are linked to health issues, including certain cancers. 

Neo San, a Bengaluru-based startup, aims to decentralise India's waste management system by helping its customers treat waste at its source. Its incinerators burn waste with 90% less emissions than traditional ones.

Clean air:

• The company currently sells two models of its incinerators, Neo-X and Neo-XT, that can process waste ranging from multi-layered packages to bio-medical waste between 25 kgs per day and 60 kgs per day.
• Its incinerators collect data on the waste it burns, including how much emissions it managed to cut down and the kind of waste it burned in the cycle.
• Neo San has sold 150 units of its incinerators. Its clients include Bengaluru International Airport,  TATA Steel and Microsoft.

Event

Solving large-scale national problems

Ashok Jhunjhunwala, Institute Professor, IIT Madras, believes India must find creative solutions to solve national and global problems such as climate change. He spoke at Tamil Nadu Story 2024, YourStory's flagship event in the state.

Key takeaways:

• India has undergone significant changes in the past three decades. From a time when basic amenities and technological infrastructure were scarce, India has now emerged as a global leader in various sectors, including IT services, space technology, and pharmaceuticals.
• The revolution in telecommunications was a turning point in India's growth story, he said.
• India produces millions of engineering graduates annually. However, he stressed the need for education to focus on practical application rather than just theoretical knowledge.

News & updates

• Funding round: Compliance startup Vanta Inc. said it had raised a $150 million funding round led by Sequoia Capital that valued the company at $2.45 billion, two years after its last round.
• Leaving luxury: LVMH shares slid 4.4% on Wednesday morning as reduced spending by shoppers on handbags and champagne hit the value of luxury goods firms around the world amid fears of ongoing weak demand.
• Incident report: Cybersecurity company CrowdStrike identified a bug in a quality control tool used to check system updates that led to outages for millions of Microsoft Windows users and upended computer systems across the world last week.

Who was the first woman to walk in space?

Answer: Soviet cosmonaut Svetlana Yevgenyevna Savitskaya. She became the first woman to perform a space walk on July 25, 1984 on her second trip to the Salyut 7 space station.

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