Women in the age of AI; Weekend funding roundup

Hello,

What is the unpaid cost of the women-led care economy in India?

Domestic labour mainly involves making one’s home and surroundings comfortable. Ranjana Kumari, Director, Centre for Social Research, calls this the “care economy” and considers it the foundation upon which other economies are based. But the care economy does not have many economical benefits. 

“What if all the women in the world refuse to do this, and decide to stop caring for and managing their surroundings? Imagine the consequences!” said the social activist and political scientist, at the SheSparks event in Delhi. 

Something to ponder…

Meanwhile, a San Francisco jury has found that Elon Musk misled investors in his public statements during his Twitter takeover in 2022. The jury found that some of his public statements of problems in Twitter’s user metrics, and that he would possibly pull out of the acquisition deal, were intentionally misleading.

Lastly, BTS is back! The much-awaited moment for BTS fans finally arrived—with members of the K-pop band performing together in Seoul for the first time in almost four years. The concert marked their return

from military service and the release of their new album Arirang.

In today’s newsletter, we will talk about 

• Women in the age of AI
• Weekend funding roundup

Here’s your trivia for today: Which US state's name is derived from the Spanish word for ‘snow-covered’?

SheSparks

Women in the age of AI

“The AI age is not like the internet-era; it’s like the era when electricity was first generated. That’s the kind of power this technology has when it comes to disrupting our entire lives,” said Neha Bagaria, Founder and CEO of HerKey, a career engagement platform for women in India.

During her keynote speech recently at SheSparks, YourStory’s flagship event for celebrating women, Bagaria urged women not to fall behind and be involved in the building of the coming future where AI will play an increasingly essential part.

Key takeaways:

• “As women, we need to realise that AI is affecting every role we hold. We need to be up there where the world is,” said Bagaria. 
• “We must start thinking about how AI can be used when we (women) are creating. We need to be the founders, the designers, the product leaders, and also the investors, where we are actually backing products that AI has built keeping women’s data in mind,” she said. 
• “At the end of the day, the future is hers to build. It’s not for somebody else to build it for her,” she concluded.

Venture capital

Weekly funding report

The third week of March witnessed a certain relief for the Indian startup ecosystem as venture capital (VC) saw a sharp increase, with the primary contribution coming from the $155 million transaction of Weaver Services.

The total funding for the week stood at $358 million from 27 deals. In contrast, the previous week saw $143 million being raised. This is the third highest amount on a weekly basis raised by the Indian startup ecosystem for the year till now. 

Key takeaways:

• The highest amount raised was $705 million in February followed by $373 million in the month of January.
• In the current week, the investors’ money flowed into diverse segments, which included fintech, NBFCs, consumer, etc. There was no definite theme of investing as the bets were largely placed on individual companies.
• This week, the transaction of Weaver Services accounted for around 43% of the total funding raised and this shows that a single deal can swing the pendulum.

News & updates

• Property market: Dubai’s property market is starting to show early ​signs of weakening amid the crisis in West Asia. Data from analysts show transaction volumes tanking, while some real estate agents ‌point to price reductions. The conflict has dented Dubai’s image as a safe haven for the world’s wealthy, Reuters reports. 
• Flight cuts: United Airlines is cutting more ​unprofitable flights over the next two quarters as it gears up for high jet fuel prices. Chief Executive Scott Kirby said the airline is preparing for oil to rise as high as $175 a barrel and remain above $100 until the end of 2027, reports Reuters. 

Which US state's name is derived from the Spanish word for ‘snow-covered’?

Answer: Nevada

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