Building affordable, durable cooling systems; Bridging India’s youth sports gap

Hello,

Eyewear retailer Lenskart's initial public offering will open for bidding on October 31 and close on November 4.

The public offer comprises a fresh issue of equity shares worth up to Rs 2,150 crore and an offer for sale of up to 127.5 million shares by existing shareholders, including promoters Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.

Meanwhile, Ola Electric has received board approval to raise Rs 1,500 crore through the issue of securities. The company, however, hasn’t disclosed what it intends to do with the capital.

Elsewhere, Mukesh Ambani's Reliance Industries Ltd may spend about $12-15 billion over the next few years on AI infrastructure that could include a giant 1GW data centre, Morgan Stanley said in a report.

Speaking of technology, an AI safety research company has said that AI models may be developing their own “survival drive”. Palisade Research found that AI models that were assigned tasks and were later asked to shut down resisted the instruction.

“The fact that we don’t have robust explanations for why AI models sometimes resist shutdown, lie to achieve specific objectives, or blackmail is not ideal,” the company said.

Does this sound scary? Then perhaps watching a horror movie might ease some of the anxiety around AI as research suggests horror content can paradoxically soothe the fears.

In today’s newsletter, we will talk about 

• Building cheap, durable cooling systems
• Bridging India’s youth sports gap

Here’s your trivia for today: Which actor played the role of Hans Gruber in the original Die Hard movie?

SMB

Building cheap, durable cooling systems

At the age of 22, with only Rs 10,000 in hand, Kalpesh Ramoliya started Raj Cooling Systems in a 10x10 ft office space. Close to two decades later, the company now exports its cooling solutions to many countries.

For FY2025, Raj Cooling Systems clocked Rs 186 crore in revenue. Over the years, it has grown its business to offer domestic, commercial, and industrial cooling solutions. It is presently exporting to over 30 countries through both offline and online channels. 

Key takeaways:

• In 2006, Raj Cooling Systems expanded from industrial to household solutions, and priced domestic air coolers starting from Rs 8,000.
• Over the last 18 years, Raj Cooling Systems has expanded its offerings to cater to domestic, commercial, tent coolers, and industrial needs.
• Recently, Raj Cooling Systems invested Rs 75 crore in developing a new manufacturing facility in Naika, Gujarat, which has the capacity to produce 20 lakh coolers annually.

Startup

Bridging India’s youth sports gap

Bengaluru sports tech startup KhiladiPro (KPro) uses AI and smartphones to assess and track athletic potential. It has reached over 20,000 children across over 50 schools and academies, and aims to deliver over 200,000 assessments by 2025.

In less than a year, KPro has partnered with over 50 schools and academies, including DPS and Jaipuria Schools, as well as federations such as the Handball Association of India.

Keep moving:

• The Bengaluru startup’s mobile-first platform leverages visual AI to transform any smartphone into a sports assessment and coaching tool, offering standardised evaluations through its Khiladi Ability Index (KAI). 
• Using visual AI, the platform analyses video footage of children performing physical tasks to evaluate fitness, track progress, and provide insights into sports aptitude.
• The startup ensures affordability and accessibility: individual assessments cost between Rs 1,200 and Rs 1,500 per student, while institutional partnerships range from Rs 350 to Rs 1,200 per student, depending on scale. 

News & updates

• Lawsuit: Exxon Mobil sued California last week, challenging two state laws that require large companies to publicly disclose their greenhouse gas emissions and climate-related financial risks.
• Louvre heist: Suspects have been arrested over the brazen jewelry heist at the Louvre, just as one of them was about to fly out of France, the Paris prosecutor said on Sunday.

What you should watch out for

• Cyclone Montha is expected to make landfall on the coast of Andhra Pradesh in the evening or night of October 28, with wind speeds touching 90-100 km/hour. India Meteorological Department has issued a heavy rain alert for states like Odisha, Tamil Nadu, Andhra Pradesh and Puducherry.
• The startup ecosystem will closely watch Lenskart's initial public offering (IPO), which is expected to be open for bidding on October 31 and close on November 4.

Which actor played the role of Hans Gruber in the original Die Hard movie?

Answer: Alan Rickman

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