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<ul><li>The <keyword id="11574541" type="UNKNOWN" weightage="20" keywordseo="swiggy-skylark">Swiggy-Skylark</keyword> consortium got the Ministry of Civil Aviation’s approval to carry out their drone test experiments.</li><li><keyword id="2698818" type="PERSON" weightage="20" keywordseo="Skylark-Drones">Skylark Drones</keyword> will use the latest funding to enhance its drone data analytics and offer more actionable insights.</li><li>The company provides work-site intelligence to enable accurate business decision-making using drone data. </li></ul>Bengaluru-based <keyword id="698452" type="COMPANY" weightage="20" keywordseo="Skylark">Skylark</keyword> Drones, which is helping food delivery app <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> get its drones off the ground, has raised $3 million (about ₹22 crore) in its pre-Series A funding round co-led by <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>’s investor <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> Ventures and Indian Angel Network (IAN) fund. Fowler Westrup, AdvantEdge Founders, Redstart Labs, IKP and Vimson group also participated in this round. Zomato’s rival Swiggy has<a href="https://www.businessinsider.in/business/startups/news/zomato-swiggy-dunzo-can-start-testing-drone-deliveries-as-india-starts-doling-out-permits/articleshow/76188887.cms"> partnered </a>with Skylark to test out its drone delivery system. The Swiggy-Skylark consortium, along with 19 other consortiums, got Ministry of Civil Aviation’s (MoCA)<a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1716085#:~:text=Ministry%20of%20Civil%20Aviation%20has,BVLOS)%20experimental%20flights%20of%20drones."> approval</a> in June to carry out experimental drone flight operations in India beyond the visual line of sight (BVLOS). Founded in 2014 by Bengaluru-based engineers Mughilan Thiru Ramasamy and Mrinal Pai, Skylark Drones had raised its seed round in 2018. The company provides work-site intelligence to enable accurate business decision-making using drone data. Skylark Drones will use the latest funding to enhance its drone data analytics and offer more actionable insights. The capital will also fuel the company’s international product expansion and development of its drone data analytics products. The company has offices in the US and India. It claims to be helping 100 enterprise clients, who have processed over one million images and 20,000 autonomous flights via its platform. “Aerial intelligence is a theme that has immense potential as it provides significant cost, time and accuracy benefits for large infrastructure companies which face frequent cost and time overruns. Skylark has built an indigenous platform that facilitates quick mobilisation of independent drone pilots, enabling them to run drone missions to gather aerial images of large worksites,” Amit Behl, partner at Info Edge Venture fund said in a statement. Meanwhile, IAN’s managing partner Rajnish Kapur highlighted that the global drone software market size is projected to reach $9.96 billion by 2027, growing at a compound annual growth rate (CAGR) of 25.05%. “With the rising adoption of advanced technologies such as AI and ML, Skylark Drones’ solutions can unlock potential while increasing productivity and ensuring safety of work-sites. What impressed us most was a strong and unique business model – one that is easily scalable in India and beyond,” he added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/info-edge-will-now-only-sell-shares-worth-375-crore-in-zomato-ipo/articleshow/84131589.cms" data-type="tilCustomLink">Info Edge will now only sell shares worth ₹375 crore in Zomato IPO</a> <a href="https://www.businessinsider.in/business/startups/news/failure-to-pivot-covid-19-blues-force-amazon-backed-shuttl-to-look-for-a-buyer/articleshow/84056797.cms" data-type="tilCustomLink">Failure to pivot, COVID-19 blues force Amazon-backed Shuttl to look for a buyer</a> <a href="https://www.businessinsider.in/business/startups/news/aamir-khan-backed-furniture-rental-startup-furlenco-raises-1000-crore/articleshow/84132797.cms" data-type="tilCustomLink">Aamir Khan-backed furniture rental startup Furlenco raises $140 million</a>

Zomato investor Info Edge has invested in a drone startup helping Swiggy make deliveries

<ul class="summary-list"><li><keyword id="6355882" type="UNKNOWN" weightage="60" keywordseo="israel">Israel</keyword>'s <keyword id="1457178" type="ORGANIZATION" weightage="60" keywordseo="Iron-Dome">Iron Dome</keyword> repelled thousands of rockets and even <keyword id="94769" type="PERSON" weightage="60" keywordseo="drones">drones</keyword> during recent fighting.</li><li>The air-defense system also accidentally shot down an Israeli military drone.</li><li>The Israel Defense Forces told Israeli media the friendly-fire incident is under investigation.</li></ul>Israel's Iron Dome accidentally shot down an Israeli military drone during recent fighting with Hamas in the <keyword id="39746" type="CITY" weightage="60" keywordseo="Gaza">Gaza</keyword> Strip, the Israel Defense Forces told local media."As part of the round of fighting in Gaza and as part of the defense of the country's skies, an IDF Skylark drone was hit by Iron Dome," <a href="https://www.haaretz.com/israel-news/.premium-iron-dome-shot-down-an-israeli-drone-during-gaza-war-by-mistake-1.9841599">an IDF spokesperson told Haaretz</a>, adding that the incident is under investigation.Skylark drones are small unmanned aerial vehicles built by Elbit Systems, an Israel-based <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international">international</keyword> defense firm, and used by the IDF Artillery Corps' "Sky Rider" unit for intelligence, surveillance, and reconnaissance missions.<a href="https://www.haaretz.com/israel-news/.premium-iron-dome-shot-down-an-israeli-drone-during-gaza-war-by-mistake-1.9841599">Haaretz reported</a> that the IDF is "worried" about the friendly-fire incident because it calls into question whether the IDF is able "to conduct a long period of fighting without harming its own forces." It is unclear to what extent this is a concern.During a recent 11-day conflict involving an intense exchange of fire between the IDF and Palestinian militants in Gaza, Israel's Iron Dome faced thousands of rockets, as well as enemy drones, the latter being a first for the system.<div type="image" title="iron dome israel gaza palestine rockets" height="1333" width="2000" msid="82959223" hostid="261"></div>Israel's Iron Dome is a short-range air-defense system designed to intercept rockets, artillery, and mortars. The system has been in use since 2011 and is in place to reduce casualties from rocket attacks against Israeli cities.The system was designed and developed by the Israeli defense companies Rafael Advanced Defense Systems and Israel Aerospace Industries with US support. It is a part of a larger tiered defense system that includes other critical assets like the Arrow and Patriot batteries.The Israeli Ministry of Defense announced in March the completion of upgrades to Iron Dome that would allow it to defend against a much more varied collection of aerial threats that Israel might battle in future conflicts.During the upgrade process, the defense system was tested against a variety of threats that include rockets, missiles, and unmanned aerial vehicles, <a href="https://apnews.com/article/israel-gaza-strip-middle-east-08ab5cba58221eb84848f13f8195bc76">the Associated Press previously reported</a>. Iron Dome had not yet engaged a drone in combat though.<div type="image" title="A rocket launched from Gaza city controlled by the Palestinian Hamas movement, is intercepted by Israel's Iron Dome aerial defence system, on May 11, 2021" height="683" width="1024" msid="82959226" hostid="261"></div>The recent fighting began on May 10 as Hamas began launching Qassem rockets at Israeli cities after a period of heightened tensions and local clashes. During the conflict, the IDF repeatedly praised Iron Dome for its effectiveness.The system is said to have intercepted 90% of incoming rockets, significantly reducing Israeli losses. Thirteen people, including two children, died in Israel from rockets that made it through. Palestinian deaths, as Israel retaliated with airstrikes, were much higher.The Times of Israel, <a href="https://www.timesofisrael.com/israeli-drone-was-intercepted-by-iron-dome-during-gaza-fighting-idf/">which also reported the accidental downing of an Israeli drone</a>, said that the Israeli military conducted around 1,500 airstrikes in Gaza during the conflict. According to the Health Ministry in Gaza, at least 243 Palestinians were killed, including several dozen children, with roughly 2,000 wounded. The deceased included both combatants and civilians.The horrific conflict, some of the worst fighting in years, concluded last Friday with a ceasefire agreement.

The Israeli military says Iron Dome shot down one of its own drones during intense fighting

<ul><li>GenieMode has raised $7 million in a Series A round led by Zomato’s earliest backers <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> Ventures.</li><li>Geniemode is a B2B platform that enables global buyers to source products from suppliers based in India and abroad.</li><li>Info Edge is also an investor in Bijnis, which focuses on unorganized markets and allows retailers to purchase directly from the source.</li></ul>Business-to-Business (B2B) ecommerce platform GenieMode has raised $7 million in a Series A round led by Zomato’s earliest backers Info Edge Ventures. This development comes only four months after the ten-month-old company raised $2.25 million in seed round, which witnessed participation from Zomato’s founder <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword>, CRED’s Kunal Shah, Apache Cassandra’s Prashant Malik and EthAum Venture’s Pankaj Gupta. “We are very excited to have Info Edge Ventures double down on their conviction in us in quick succession. We’ll utilise the fresh capital to bolster tech and product development, accelerate expansion in existing markets &amp; enter new markets,” Amit Sharma, chief executive (CEO) and cofounder of GenieMode, added. Founded in March 2021 by Amit Prakash Sharma and Tanuj Gangwani, Geniemode is a B2B cross-border tech platform that enables global buyers to source products from suppliers based in India and other Southeast Asian countries. The company competes with <a href="https://in.linkedin.com/company/myglobalfair">GlobalFair</a>, which is also backed by Cred’s Kunal Shah, RazorPay’s Harshil Mathur and others. Geniemode claims to have on boarded 100 small and medium enterprises as well as large suppliers form Indian subcontinent, who are currently getting connected to buyers from the US, UK, Europe and Australia. The company’s chief financial officer (CFO), Gangwani, added that the company is on track to hit $100 million in annualised topline in the next 12 months by offering a wide range of products, higher flexibility on minimum order quantity (MOQs) and better pricing. The company currently allows international buyers to choose from a selection of products in the home, furnishing, fashion and accessories, and other design-led categories. Info Edge is also an investor in another B2B ecommerce startup called Bijnis, which focuses on unorganized markets and allows retailers to purchase directly from the source. Info Edge — the $10 billion company which runs Naukri.com, Jeevansaathi.com, 99acres.com and Shiksha.com — has backed startups like PolicyBazaar, travel booking app ixigo, shipping and logistics company Shiprocket and <a href="https://www.businessinsider.in/business/startups/news/zomato-investor-info-edge-has-invested-in-a-drone-startup-skylark/articleshow/84144201.cms">Skylark, which is helping Swiggy</a> with its drone operations. The company invested in <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">nearly 2 startups every month in 2021</a> till September. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/saffola-parachute-oil-maker-marico-sees-poor-demand-from-customers-amid-high-inflation/articleshow/88682276.cms">Marico is paying the price for rising inflation because its buyers aren’t able to</a> <a href="https://www.businessinsider.in/stock-market/news/marico-hdfc-dilip-buildcon-and-other-hot-stocks-to-watch-out-for-on-january-4/slidelist/88679287.cms" data-type="tilCustomLink">Marico, HDFC, Dilip Buildcon and other hot stocks to watch out for on January 4</a> <a href="https://www.businessinsider.in/business/news/ongc-appoints-alka-mittal-as-chairperson-and-managing-director/slidelist/88681434.cms" data-type="tilCustomLink">Meet Alka Mittal, the first woman to head oil giant ONGC</a>

After Deepinder Goyal and Kunal Shah, Info Edge backs this 10-month-old tech startup

Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021

<ul><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) on July 5 has amended rules for overdue fixed deposits (FD) wherein if a depositor does not claim the proceeds after maturity, the bank will charge the lower interest rates applicable from savings rate or contracted interest.</li><li>RBI classifies a deposit as unclaimed when the depositor doesn’t make any transaction in the account for 10 years or more. </li><li>Reportedly, unclaimed deposits with banks have been growing every year. </li></ul>It commonly happens that people do not share basic financial information with their close ones or family members. At times, because of an unfortunate event of a death, the family members are unaware of the financial details of the deceased person. Besides, some of us fail to keep track of multiple bank accounts and fixed deposits (FD) in different banks as we move cities and jobs. Such proceeds, which are not claimed by the depositor, are kept in Depositors Education and Awareness Fund (DEAF), formed by the Reserve Bank of India (RBI) in 2014. Deposits from all banks which are inoperative for at least 10 years are transferred into this large pool of unclaimed money. Currently, there is a large amount of money lying unclaimed in such accounts. As of now, more than Rs 82,000 crore of investor wealth is lying unclaimed in forgotten and lost investments, as per <a href="https://economictimes.indiatimes.com/wealth/invest/rs-82000-cr-lying-in-unclaimed-bank-a/cs-life-insurance-mutual-funds-pf-how-to-get-your-money-back/articleshow/84089095.cms?from=mdr">ET Wealth estimates</a>. Do interest rates continue on the unclaimed proceeds? Yes, these unclaimed funds will continue to earn interest rates specified by the RBI, and not the rate at which the deposit was made, which are called contracted rates. The RBI has now tweaked rules for interest rates on unclaimed fixed deposits (FD), wherein if depositors forget to claim the proceeds after maturity, the amount left unclaimed will attract interest rate applicable to savings account or contracted rate whichever is lower. Earlier, the interest rates on unclaimed amounts attracted the rate of interest as applicable to savings deposits. This does not make a major difference as interest rates on savings accounts have been decreasing, which means it will always be lower than the contracted rate. RBI classifies a deposit as unclaimed when a depositor doesn’t make any transaction in the account for 10 years or more. The amendment comes when unclaimed deposits with banks have been reportedly growing every year. What should you do to avoid missing such a maturity date? Note down the maturity date of your <keyword id="6568461" type="UNKNOWN" weightage="20" keywordseo="fds">FDs</keyword> and share these details with your family. Do not forget to mention nominee details. If your home address happens to change, update your banks about the same. It is convenient to collect all proceeds if you have a savings account with all banks you have FDs with. However, if not, remember to opt for an auto renewal option so that your FD is renewed for more years with the prevailing FD rate. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/aamir-khan-backed-furniture-rental-startup-furlenco-raises-1000-crore/articleshow/84132797.cms">Furlenco raised $140 million in a Series D funding round led by Zinnia Global Fund (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-investor-info-edge-has-invested-in-a-drone-startup-skylark/articleshow/84144201.cms">Zomato investor Info Edge has invested in a drone startup Skylark (businessinsider.in)</a>

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Zomato investor Info Edge has invested in a drone startup helping Swiggy make deliveries

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The Israeli military says Iron Dome shot down one of its own drones during intense fighting

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After Deepinder Goyal and Kunal Shah, Info Edge backs this 10-month-old tech startup

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Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021

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What happens if you forget to claim your fixed deposit proceeds after maturity? Explained

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