PM Modi’s AI bet: Train 1 crore youth in one year
Startups announced funding worth $146 million across 15 deals this week, down from $323 million last week.
Dear Reader,
It’s India’s brave new digital push. On the country’s 80th Independence Day, Prime Minister Narendra Modi outlined an ambitious plan to skill the country’s youth in artificial intelligence. “In the coming one year, we will work to provide AI skill training to one crore youth, so that India's youth can lead in the AI era,” the PM said.
The country will also provide free online coaching for aspirants preparing for competitive exams. The initiative is expected to ease the financial burden on their families.
The PM’s speech also had praise for ‘Lakhpati Didis’ –a government initiative that aims to help women achieve a sustainable annual household income of Rs 1 lakh or more. About three crore women have benefitted from the scheme and the centre now plans to expand it to include six crore women.
ICYMI: Ever wondered how much money it takes to retire comfortably in India? This graphic shows that at around $189,000 (approximately Rs 1.8 crore), India is among the handful of countries with retirement costs below $200,000.
Moving on, it turns out that popular stories about kings being inspired by ants–and in one case, spiders–are more than just feel-good tales. Research has found that creepy crawlies, including cockroaches, are indeed good at persistence and decision-making, according to an article in BBC Future.
In today’s newsletter, we will talk about
- Yulu shines in a weak VC funding week
- Rebuilding lives of childhood trauma survivors
Here’s your trivia for today: Which Japanese philosophy, translating literally to "continuous improvement," was popularized globally by Toyota's manufacturing system? (Scroll down for answer)
Venture capital
Yulu shines in a weak VC funding week
Venture capital inflow into the Indian startup ecosystem declined in the second week of August, with the total coming back to the $100 million-$200 million range. Absence of large deals slowed the VC funding, save for Yulu’s $93 million fundraise.
Where’s the money?
- Startups announced funding worth $146 million across 15 deals this week, down from $323 million last week.
- In fact, since the start of this year, VC funding on a weekly basis has crossed the $300 million level only about 10 times.
- In 2025, Indian startups together pulled about $12.1 billion in funding. Going by the current trends, it is most likely that this year’s funding may match this number or be marginally higher.
Social impact
Rebuilding lives of childhood trauma survivors
An encounter with a child during her formative years pushed Major Bhavana Chiranjay to start Swakshatra, a foundation that works to protect children from sexual violence and exploitation.
In 10 years, the total impact has been 75 children, not a large number. However, given the challenges, including a pandemic, the impact has been substantial, the founder says.
Healing:
- Swakshatra has a residential children's home with room for 25 and currently housing 20, ranging in age from 12 to 22 years.
- Within rehab, Swakshatra focuses on two things. The first is vulnerable witness protection: keeping a child safe enough, for long enough, to depose without fear.
- The second, post-trauma care, treats healing as a discipline in itself. Psychotherapy comes first; psychiatry is treated as a last resort. Counselling includes art therapy and structured extracurricular activities.
News & updates
- Sweet grapes: Scorching summer heat in France’s Champagne region has forced winemakers to shift the harvest season, raising concerns over poor crop yield coupled with an altered flavour profile of the iconic beverage. The grapes are now expected to be sweeter than previous crops.
- Share disclosure: Chipmaker NVIDIA said last week that its stake in SpaceX was worth about $21 billion in the second quarter. In a filing with the Securities and Exchange Commission, the company said it owns 122.8 million Class A shares in Elon Musk’s rocket firm.
Which Japanese philosophy, translating literally to "continuous improvement," was popularized globally by Toyota's manufacturing system?
Answer: Kaizen
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