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<ul><li><keyword id="9750118" type="General" weightage="100" keywordseo="skyroot" source="Orion">Skyroot</keyword> is developing India’s first privately developed space launch vehicle. </li><li>Skyroot’s marquee investors include Myntra and CultFit founder Mukesh Bansal, Greenko Group founders – Anil Chalamalasetty and Mahesh Kolli, and Google board member <keyword id="17786" type="General" weightage="50" keywordseo="ram" source="Orion">Ram</keyword> Shriram’s <keyword id="272926" type="General" weightage="50" keywordseo="sherpalo-ventures" source="Orion">Sherpalo Ventures</keyword>. </li><li>The Indian-tech startup has an MoU with the Indian Space Research Organisation for sharing facilities and expertise. </li></ul><keyword id="7537495" type="General" weightage="50" keywordseo="skyroot-aerospace" source="Orion">Skyroot Aerospace</keyword>, a four-year-old space tech startup, has raised $51 million in a Series-B financing round. The company claims this is the biggest funding round ever in the Indian space-tech sector. The funding round was led by GIC, a leading global investment firm headquartered in Singapore. Skyroot will use the funds to expand its space engineering team, which currently has close to 200 employees. The funding would also help the company get to full-fledged commercial satellite launch scale within a year from now, said Naga Bharath Daka, co-founder and COO of Skyroot. It has started booking payload slots for its upcoming launches, he added. Skyroot said it is developing India’s first privately developed space launch vehicle, named after the founder of India’s space program, Dr. <keyword id="29151" type="General" weightage="50" keywordseo="vikram-sarabhai" source="Orion">Vikram Sarabhai</keyword>. The Vikram Series rockets are built with an all-carbon-fibre structure, and can launch upto 800 kg of payloads to Low Earth Orbit (LEO), the company said. Skyroot is the first startup to sign an MoU with the Indian Space Research Organisation (ISRO) for sharing facilities and expertise. “Our objective is to establish ourselves as a provider of best-in-class rocket launch services and the go-to destination for affordable and reliable small satellite launches.” said Pawan Kumar Chandana, co-founder and CEO of Skyroot. Rothschild &amp; Co India were the financial advisors for this funding round. Skyroot’s investors include Myntra and CultFit founder Mukesh Bansal, Greenko Group founders – Anil Chalamalasetty &amp; Mahesh Kolli, <keyword id="2644063" type="General" weightage="50" keywordseo="solar-industries-india-limited" source="Orion">Solar Industries India Limited</keyword>, Google board member Ram Shriram’s Sherpalo Ventures, Neeraj Arora (Former-WhatsApp Global Business Chief) and <keyword id="12050422" type="General" weightage="50" keywordseo="wami-capital" source="Orion">Wami Capital</keyword>. Mayank Rawat, managing director of GIC India Direct Investment Group, will be joining Skyroot’s board. According to a <a href="https://www.fortunebusinessinsights.com/industry-reports/space-launch-services-market-101931">report</a>, the global space launch services market is projected to grow from $14.21 billion in 2022 to $31.90 billion by 2029, at a CAGR of 12.25%. SEEL ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/meesho-expects-4x-jump-in-small-business-participation-this-festive-season/articleshow/94001329.cms">Meesho expects 4X jump in small business participation this festive season</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/cyrus-mistry-vs-tata-group-decoding-the-battle-of-prestige-between-indias-most-prominent-parsi-families/articleshow/94000771.cms">Cyrus Mistry vs Tata Group – decoding the battle of prestige between India’s most prominent Parsi families</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/the-great-indian-festival-of-hiring-e-commerce-companies-gear-up-for-indias-shoppers/articleshow/94000346.cms">The great Indian festival of hiring: E-commerce companies gear up for India’s shoppers</a>

Indian space tech startup Skyroot Aerospace raises $51 million in GIC-led funding round

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://news.stanford.edu/news/2009/december7/shriram-board-election-120709.html">Stanford</a>Ram Shriram</td></tr></table>One of <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword>'s earliest directors, <keyword id="508899" type="PERSON" weightage="60" keywordseo="Ram-Shriram">Ram Shriram</keyword>, has added to his fortune by selling Google stock over the past month—$31 million worth.
He and his wife recently sold 42,000 <a href="http://www.sec.gov/Archives/edgar/data/1288776/000112760213000520/xslF345X03/form4.xml">shares, according to SEC documents.</a> In January, the couple sold <a href="http://www.sec.gov/Archives/edgar/data/1288776/000112760213000520/xslF345X03/form4.xml">the first chunk</a>, 20,000 shares for $730 a pop ($14.6 million), and last week, he and his wife sold 22,000 shares in two transactions at $760 ($16.7 million).
The sale on Friday came as Google's stock was reaching an all-time high of $776.60 (It closed at $775.60). The rise was attributed to news that Google was close to settling the European Union's three-year probe into its business.
Google's previous high was $774.38, reached in October 2012.
<span style="color: #000000; font-family: Times; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: #ffffff; display: inline !important; float: none;"><span style="margin: 0px; padding: 0px; font-size: 16px; color: #000000; font-family: Times; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Not that Shriram could have timed the sale—as most top executives and insiders typically do, he's set up a 10b5-1 trading plan which dictates his selling according to preplanned conditions. Based on <a href="http://www.businessinsider.com/ram-shriram-share-sales-2012-9">previous sales</a>, it appears that Shriram sets round numbers as price levels at which he automatically sells shares.
Shriram and his wife still own more than 150,000 shares.
Plus, $31 million is pocket change for Ram, who has net worth of $1.6 billion, <a href="http://www.forbes.com/profile/kavitark-ram-shriram/">says Forbes</a>.
Shriram is one of the Valley's golden angels. In his early career he worked for Netscape. Then he founded a company called Junglee, which was bought by Amazon in 1998 for about $185 million. That gave him the capital to invest in Google when it was still operating out of a Menlo Park garage.
Through his venture firm, <keyword id="272926" type="COMPANY" weightage="60" keywordseo="Sherpalo-Ventures">Sherpalo Ventures</keyword>, he's also an investor in StumbleUpon, Zazzle, and other startups.
Don't miss: <a href="http://www.businessinsider.com/microsoft-office-review-2013-2">7 Reasons Why You Should Buy Microsoft’s New Version Of Office</a>

A Billionaire Google Board Member Earned $31 Million As Google's Stock Hit All-Time Highs

Jamnagar (Gujarat) [India], February 28 (ANI): The pre-wedding festivities of Reliance Industries Chairman Mukesh <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>'s youngest son Anant Ambani, who is set to tie the knot with industrialist Viren Merchant's daughter, Radhika Merchant, have started with 'anna seva'. At Jogwad village near Reliance Township in Jamnagar, Mukesh Ambani, Anant Amband other members of the Ambani family, including Radhika Merchant, served traditional Gujarati food to the villagers. Radhika's maternal grandmother and parents - Viren and Shaila Merchant - also took part in the 'anna seva'. Food will be served to about 51,000 local residents, which will continue for the next few days. The Ambani family has organized 'anna seva' to seek the blessings of the local community for the pre-wedding celebrations of Anant Ambani and Radhika Merchant. After the meal, the attendees enjoyed traditional folk music. Famous Gujarati singer Kirtidan Gadhvi stole the show with his singing. Sharing food is an old tradition in the Ambani family. The Ambani family has been serving food on auspicious family occasions. When the country was grappling with coronavirus pandemic, Reliance Foundation, under the leadership of Anant Ambani's mother Nita Ambani, ran a large food distribution programme. Taking forward the family tradition, Anant Ambani has started his pre-wedding functions with anna seva. The pre-wedding functions are expected to be traditional and grand. Guests will get to experience the beauty of Indian culture at the pre-wedding festivities. The guests at the occasion will receive traditional scarves made by women artisans from Kachchh and Lalpur in Gujarat. Qatar Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani, Queen of Bhutan Jetsun Pema, Meta CEO Mark Zuckerberg, Adobe CEO Shantanu Narayen, and Saudi Aramco Chairperson Yasir Al Rumayyan are among those invited for the celebrations scheduled between March 1-3. The guest list also includes former Prime Minister of Sweden Carl Bildt, former Prime Minister of Canada Stephen Harper, President of Google Donald Harrison, former President of Bolivia President Jorge Quiroga, former Prime Minister of Australia Kevin Rudd and Chairperson World Economic Forum Klaus Schwab. CEO and MD ADNOC Dr Sultan Al Jaber, CEO bp Murray Auchincloss, Chairman and Founder Colony Capital <keyword id="20770673" type="General" weightage="20" keywordseo="thomas-barrack" source="keywords">Thomas Barrack</keyword>, , CEO JC2 Ventures John Chambers, former CEO bp Bob Dudley, President of Global Development at BMGF Christopher Elias, Executive Chairman at Exor John Elkann, and CEO of Endeavor Ari Emanuel are also expected to be in Jamnagar next month. Chairman and CEO BlackRock Larry Fink, CEO Brookfield Asset Management Bruce Flatt, Co-chair Board member BMGF Bill Gates, COO BlackRock Rob L Goldstein, Managing Director Morgan Stanley Michael Grimes, Chairman Hilton &amp; Hyland Richard Hilton, Vice Chairman Berkshire Hathway Ajit Jain, Board Member Mandarin Oriental Archie Keswick, Scientist Dr Richard Klausner, Businessman Jared Kushner, Founder <keyword id="20626887" type="General" weightage="20" keywordseo="thrive-capital" source="keywords">Thrive Capital</keyword> Joshua Kushner, Former CEO bp Bernard Looney, Former Governor Businessman Terry McAuliffe, Scientist and Entrepreneur <keyword id="20770671" type="General" weightage="20" keywordseo="yuri-milner" source="keywords">Yuri Milner</keyword>, Founder and CEO Lupa Systems James Murdoch, President and CEO Aramco Amin H Nasser, Founder NV Investments <keyword id="20770672" type="General" weightage="20" keywordseo="vivi-nevo" source="keywords">Vivi Nevo</keyword>, Former Dean Harvard Business School Nitin Nohria, COO Meta Javier Olivan, Vice Chairman Bank of America Purna Saggurti, , Founder and CEO Steel Perlot Michelle Ritter, Founder Schmidt Futures Eric Schmidt, Founding and Managing Partner Sherpalo Ram Shriram, CEO Sanmina Corp Jure Sola, CEO Enterprise GP Jim Teague, Group Chairman HSBC Holdings Plc Mark Tucker, and journalist Fareed Zakaria are among some of the other expected guests. Recently, Reliance Foundation posted a video on their Instagram handle in which women from Gujarat can be seen curating Bandhani scarves for the wedding functions of Anant and Radhika. In the clip, one can also see Nita Ambani, the founder and chairperson of Reliance Foundation, meeting the artisans and expressing her happiness for their hard work. "These women pour their hearts and souls into the craft, preserving age-old techniques and breathing life into stories as ancient as the land itself. Swadesh is empowering communities and preserving age-old craftsmanship," Reliance Foundation captioned the post. Ushering in the much-awaited wedding, the Ambani family has also facilitated the construction of new temples within a sprawling temple complex in Jamnagar, Gujarat. Featuring intricately carved pillars, sculptures of Gods and Goddesses, fresco-style paintings, and architecture inspired by generations of artistic heritage, the temple complex keeps India's rich cultural and spiritual identity at the heart of the wedding festivities. Brought to life by master sculptors, the temple art employs age-old techniques and traditions. The initiative highlights the incredible skills of local artisans, reflecting Nita Ambani's vision of preserving and promoting Indian heritage, tradition and culture. Anant and Radhika got engaged in a traditional ceremony in January 2023 at the family's residence Antilia in Mumbai. Isha Ambani, Akash Ambani and Anant Ambani, the three children of Mukesh-Nita Ambani, have been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses. They also serve on the boards of the key subsidiaries of Reliance Industries. While Isha M Ambani has been driving the expansion of Reliance Retail, Akash M. Ambani is serving as the Chairman of Reliance Jio Infocomm Limited (RJIL) since June 2022 and Anant M Ambani is driving the expansion of energy and materials businesses of Reliance Industries. Isha and Akash got married in 2018 and 2019, respectively. Anant Ambani is also involved with several compassionate initiatives to rehabilitate at-risk animals and provide them care and dignity in their residual life. Reliance Industries and Reliance Foundation this Monday launched Vantara, a paradigm-shifting initiative for animal welfare in the heart of Gujarat's green belt. Vantara (Star of the Forest), an ambitious programme is dedicated to the rescue, treatment, care, and rehabilitation of animals in need. (ANI)

Anant Ambani, Radhika Merchant's pre-wedding celebrations begin with 'anna seva'

<ul><li>Indian <keyword id="4119607" type="General" weightage="20" keywordseo="space-startup" source="Orion">space startup</keyword> <keyword id="9750118" type="General" weightage="20" keywordseo="skyroot" source="Orion">Skyroot</keyword> Aerospace has raised $4.5 million in a bridge round.</li><li>The round is led by one of the earlier backers of Google, <keyword id="508899" type="General" weightage="20" keywordseo="ram-shriram" source="Orion">Ram Shriram</keyword>, through his VC firm Sherpalo Ventures.</li><li>Skyroot Aerospace had previously announced that it is in talks to raise $40 million.</li></ul>Indian space startup Skyroot Aerospace has raised $4.5 million in a bridge round led by one of the earlier backers of Google, Ram Shriram, through his venture capital (VC) firm Sherpalo Ventures. The bridge round was co-led by Wami Capital, with participation from former WhatsApp executive Neeraj Arora and former Google executive Amit Singhal. A bridge round is an intermediary financing ahead of a larger funding round. “India has long been a leader in rocket launch capability, especially at significantly lower cost. Skyroot takes that technical strength to the next level, with its innovative and cost-effective space launch capability, disrupting the status quo in the global launch market,” said Shriram of Sherpalo Ventures. The company was founded by former Indian Space Research Organisation (ISRO) scientists Pawan Kumar Chandana and Naga Bharath Daka in 2018. Skyroot Aerospace had previously announced that it is in <a href="https://www.businessinsider.in/business/startups/news/interview-these-former-isro-scientists-are-hoping-for-the-biggest-ever-funding-in-the-indian-spacetech-industry/articleshow/87911503.cms">talks to raise $40 million </a>in order to fund its commercial operations that are scheduled to launch next year. The company will raise this round with both new and existing investors. The company had announced a<a href="https://www.businessinsider.in/business/startups/news/skyroot-aerospace-raises-11-million-in-funding-with-plans-to-have-vikram-1-on-the-launch-pad-by-mid-2022/articleshow/82788901.cms"> $11 million funding round </a>in the first half of 2021, the same day its rival Agnikul raised the same amount. This was the largest round raised by any Indian <keyword id="6177850" type="General" weightage="20" keywordseo="spacetech" source="Orion">spacetech</keyword> startup. Skyroot is backed by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Other notable investors also include former Graph Ventures, Worldquant Ventures and Mukesh Bansal, who had earlier founded Myntra and Cure.fit. The three-year-old startup is the first Indian private aerospace company to successfully test a fully cryogenic rocket engine named Dhawan-1 in honour of eminent Indian scientist Satish Dhawan. It will not license or sell its cryogenic engine technology to any other partners, but will use it to boost its operations. It will partner with other companies that have the capability of manufacturing satellites, mainly in earth observation and communication satellites, and help them launch it to space. Hyderabad-based Skyroot claims that it will probably be the cheapest satellite launch vehicle in the world. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-cipla-pnb-and-other-hot-stocks-on-january-27-after-us-fed-signals-rate-hikes-from-march/slidelist/89146298.cms">Reliance Industries, Cipla, PNB and other hot stocks on January 27 after US Fed signals rate hikes from March</a> <a href="https://www.businessinsider.in/stock-market/news/how-you-can-check-the-allotment-status-of-ags-transact-technologies-ipo/articleshow/89125068.cms">AGS Transact Technologies IPO: Here’s how you can check the allotment status</a> <a href="https://www.businessinsider.in/stock-market/news/adani-wilmars-issue-opens-today-check-out-the-important-dates-and-details-of-the-ipo/articleshow/89125018.cms">FMCG company Adani Wilmar’s issue opens today — Check out the important dates and details of the IPO</a>

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Indian space tech startup Skyroot Aerospace raises $51 million in GIC-led funding round

Eetika Kapoor

A Billionaire Google Board Member Earned $31 Million As Google's Stock Hit All-Time Highs

Julie Bort

Anant Ambani, Radhika Merchant's pre-wedding celebrations begin with 'anna seva'

ANI

Indian spacetech startup Skyroot has raised over $4 million in a round led by one of Google’s earliest backers

Kritti Bhalla

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