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<ul class="summary-list"><li>Supersonic aviation startup Exosonic shut down in November after five years in business.</li><li>The California-based startup was working on faster-than-sound jets for commercial and military use.</li></ul>A handful of startups are vying to revive supersonic flight, but one contender just dropped out of the race.<a target="_blank" class="" href="https://www.businessinsider.com/see-the-supersonic-passenger-planes-will-connect-cities-1-hour-2022-7">Exosonic, </a>which had been working for five years to build faster-than-sound jets for commercial and military use, announced its shutdown on Friday, citing a lack of continued funding and low customer interest.The company had two main projects: a quiet passenger plane capable of Mach 1.8 speed and an uncrewed supersonic aircraft for fighter jet target practice. It had backing from private equity investors, <a target="_blank" class="" href="https://www.businessinsider.com/hypersonic-air-force-one-hermeus-mach-5-2020-8">a contract from the US Air Force</a>, and a flying sub-scale prototype.In an interview with Business Insider, Exosonic CEO Norris Tie said the company hoped its Mach-speed airliner would drastically cut travel time between faraway nations.Crucial to the company's promise was work to eliminate the <a target="_blank" class="" href="https://www.businessinsider.com/sonic-boom-explained-2016-1">sonic boom</a> that prevents supersonic planes from flying over land — an issue that severely handicapped the <a target="_blank" class="" href="https://www.businessinsider.com/concorde-supersonic-jet-history-2018-10">legendary Concorde</a> when it pioneered supersonic passenger travel in 1976."The goal was that by the time we were ready to hammer out the commercial design, all the regulatory framework for the boom would have more or less been established," Tie said. "Then we could go back to designing the airliner after what we hypothesized would have been a successful UAS (uncrewed aircraft systems) business at that point."<div type="image" title="A photo of Exosonic CEO Norris Tie standing to the right of another Exosonic employee examining an aircraft wing." height="1080" width="1920" msid="115266488" hostid="261" sizebytes="70466"></div>Since 2020, the company had raised about $4 million in funding, according to PitchBook estimates. Its closure leaves fewer players working to achieve the faster-than-sound dream."As history shows, in many areas with new technology, there are often many more players initially than the market can support," University of Illinois aerospace engineering professor Michael Bragg told BI. "It was inevitable that there would be a downselect of supersonic aircraft makers. Let's hope someone is successful before they are all gone."<h2 id="edb327cf-4cd9-4561-b931-8796991c5f4c">A new Mach-speed passenger jet would be too expensive and time-intensive</h2>Supersonic travel was already achieved nearly decades ago with the Concorde, which could cross the Atlantic in as little as three hours and operated commercially for about 30 years.But it was <a target="_blank" class="" href="https://www.businessinsider.com/concorde-supersonic-plane-tour-photos-2024-10">extremely costly and ended in disaster,</a> stoking concerns that largely convinced the industry to end flights."Some investors said the timeline for a supersonic commercial aviation product was too long and capital intensive," he said, adding passenger Mach flight was the company's main focus for the first two years.Tie said with full capital, meaning billions more dollars, it could take 10-15 years to build, certify, and deliver a new supersonic plane. And that's if the supply chain, potential design setbacks, and other factors <a target="_blank" class="" href="https://www.businessinsider.com/boeing-777x-why-so-important-delays-future-airlines-2024-7">don't add abnormal expenses.</a>Tie also said engine manufacturers aren't investing in supersonic flight — hindering one of the industry's most vital components: power.<div type="image" title="Boom Supersonic." height="1406" width="2500" msid="115266487" hostid="261" sizebytes="78552"></div><a target="_blank" class="" href="https://www.businessinsider.com/supersonic-jet-boom-overture-costs-technology-experts-skeptical-2024-4">Boom Supersonic</a>, another faster-than-sound startup, has been forced to build its own engine after failing to make a deal with major engine manufacturers, who remain focused on conventional jet engines. The company has been in business for about a decade and has <a target="_blank" class="" href="https://www.businessinsider.com/see-boom-jet-used-test-worlds-next-supersonic-airliner-2024-3">developed a sub-scale prototype</a>."Boom has said it would cost up to $8 billion to build its supersonic plane, and that's a low number," Tie said. "The company has only publicly <a target="_blank" class="" href="https://boomsupersonic.com/newsroom/fact-sheet">funded</a> less than $1 billion. It's a long road, and I don't know how it's going to get done."Boom has announced <a target="_blank" class="" href="https://www.businessinsider.com/meet-overture-the-boom-supersonic-aircraft-that-united-just-ordered-2021-6">billions of dollars worth of orders from American Airlines</a> and United Airlines for its supersonic Overture jet, which is planned to fly as soon as 2029.American has agreed to purchase up to 20 with options for another 40, while United has ordered 15 with options for 35 more.<h2 id="ac0faea2-919d-4208-94b1-f52c80a4c14a">The US Air Force changed its mind about Exosonic's training drones</h2>Investors pushed Exosonic to focus on military contracts instead of a commercial airliner, Tie said. This was the smallest product the company could develop while still generating some revenue — until the Air Force changed its mind."They didn't want fighter jet drones focused on training; they wanted one focused on combat, which has been a priority for the past two or three years," he said. "That's what took away all of the funding that we were going after, and we couldn't recover."<div type="image" title="A rendering of three Exosonic's supersonic Revenant military drones flying." height="1080" width="1920" msid="115266490" hostid="261" sizebytes="71432"></div>He said commercial air combat companies' interest in Exosonic hinged on the USAF. Once the Air Force's interest faded, so did the interest of any potential commercial players, like Drakken International, who could have used the uncrewed drones for training or other military needs.Without a defense arm of the business, Tie said the commercial side didn't have a chance.<h2 id="04b7056c-e60d-4441-a240-6d64e9c0d514">Tie said hypersonic travel is a more likely commercial option</h2>Tie said part of the problem with getting supersonic funding is because it isn't a shiny new concept. Humans have been doing it <a target="_blank" class="" href="https://www.businessinsider.com/70-years-since-chuck-yeager-broke-the-sound-barrier-what-it-was-like-2017-10">since the 1940s,</a> and there isn't any "terribly new technology to develop there."He said a better approach for Exosonic would have been to focus on <a target="_blank" class="" href="https://www.businessinsider.com/see-the-supersonic-passenger-planes-will-connect-cities-1-hour-2022-7">hypersonic travel.</a> <div type="image" title="Rendering of Venus Aerospace's Stargazer in flight." height="543" width="1024" msid="115266491" hostid="261" sizebytes="37582"></div>A handful of hypersonic startups, including Venus Aerospace, Hermeus, <a target="_blank" class="" href="https://www.businessinsider.com/see-hypersonic-jet-will-fly-new-york-paris-90-minutes-2023-6">Destinus</a>, and Spectre Aerospace, plan to build ultrafast jetliners. <a target="_blank" class="" href="https://www.venusaero.com/venus-aerospace-inaugural-supersonic-drone-flight/">Venus</a> is testing its high-Mach-speed advanced propulsion system and has achieved supersonic flight with a drone using a rocket engine.Tie believes SpaceX's Starship could be one of the likeliest contenders. Elon Musk's project is set to transport satellites and astronauts to space but could also shoot into orbit and back to connect nearly any two cities in an hour or less."Hypersonic is certainly in vogue, and so that makes sense to go in that direction," he said. "Supersonic is unfortunately not in vogue."

CEO of failed supersonic plane startup on what went wrong — and how other companies might find success 

Hitting a hattrick of 6’s to dazzle the crowd hasn’t been the only cool thing <keyword id="6354832" type="General" weightage="20" keywordseo="MS-dhoni" source="Orion">MS Dhoni</keyword> has been up to of late. The Indian cricketing legend continues to make waves off the pitch in many ways, one of which involves investing in interesting and impactful <keyword id="20067715" type="General" weightage="20" keywordseo="start-up" source="keywords">start-up</keyword> projects. His latest venture involves an undisclosed investment in <keyword id="20656950" type="General" weightage="20" keywordseo="electric-cycle" source="keywords">electric cycle</keyword> manufacturer <keyword id="20835176" type="General" weightage="20" keywordseo="EMotorad" source="keywords" meta.keywordsubtype="org" meta.entityname="EMotorad" meta.hostid="261" meta.entityid="EMotorad">EMotorad</keyword>. In addition to his financial backing, <keyword id="19896463" type="General" weightage="100" keywordseo="Dhoni" source="keywords">Dhoni</keyword> is set to serve as the <keyword id="21321553" type="General" weightage="20" keywordseo="brand-endorser" source="keywords">brand endorser</keyword> for the company, further solidifying his role in shaping its future direction. Expressing his excitement for this venture, Dhoni commented: “The future is in our hands. We are in an era where innovation plays a huge role in shaping sustainable solutions, and I’m a fan of new-age companies that build these. EMotorad stands at the forefront of shaping the future of mobility, and I am thrilled to be a part of this journey!” <keyword id="20835175" type="General" weightage="20" keywordseo="Kunal-Gupta" source="keywords">Kunal Gupta</keyword>, founder and chief executive of EMotorad, expressed confidence that MS Dhoni's association with the brand will significantly boost awareness and trust in the e-biking sector. He told ET: “There is no one better and more reliable than Dhoni who resonates with what our brand stands for, an avid biker himself.” <div type="twitter" handle="e_motorad" handlename="e_motorad" favoritecount="0" retweetcount="0" id="1776119471704608843"></div> This Pune-based startup now joins a growing list of startups that are part of Dhoni's diverse portfolio, which includes ventures spanning various sectors such as fitness, technology, automotive and digital solutions. As per The Economic Times, notable among his investments are Bengaluru-based fitness startup Tagda Raho, digital lending platform Khatabook, and Gurugram-based used car retailer Cars24. Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad has rapidly gained traction in the Indian e-cycle market, capturing a 65% share. With a focus on cutting-edge technology and strategic partnerships, the company aims to revolutionise transportation by offering high-quality and value-driven solutions. Back in November 2023, EMotorad demonstrated its growth potential by securing substantial funding worth Rs 164 crore in a Series B round led by Panthera Growth Partners. It has raised a total of $20 million in equity thus far. The company boasts a network of more than 350 dealers nationwide, along with over 10 experience centres. Despite its strong foundation in India, its reach spans across eight countries, demonstrating its global presence and influence. Offline dominance aside, EMotorad also leverages online platforms to reach a wider audience, including e-commerce giants like Amazon and Flipkart. In the fiscal year ending March 2024, EMotorad reported sales of Rs 140 crore, a notable increase from Rs 115 crore the previous year. Looking ahead to FY25, the company targets sales of Rs 270 crore, with approximately Rs 130 crore stemming from domestic markets and the remainder anticipated from regions like the US and Europe. With plans underway for a new factory and the development of innovative e-cycle designs, EMotorad is poised for further expansion. By diversifying its product range, expanding its market reach, and now partnering with one of the most beloved sporting figures in the country, the company is fully committed to solidifying its position as a leader in the evolving mobility landscape. (With inputs from The Economic Times)

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

<ul class="summary-list"><li>William Li grew up in a village in rural China without electricity. </li><li>He's co-founded and invested in 40 companies, including premium EV startup Nio.</li></ul><a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2">China is the world's leading electric vehicle market</a>, and <a target="_blank" href="https://www.businessinsider.com/ev-electric-vehicle-china-brands-byd-nio-wuling-zeekr-geely-2023-5">Nio is one of its key players</a>.The Shanghai-based premium EV company was co-founded in 2014 by its CEO, William Li.William Li, also known as Bin Li, has been dubbed the <a target="_blank" href="https://www.businessinsider.com/chinas-answer-elon-musk-explains-company-take-tesla-2018-5">"Elon Musk of China"</a> for his push to develop self-driving EVs and his loyal fan base. His company's annual "Nio Day" drew crowds of 10,000 Nio owners who came to see the latest vehicle, the ET9, unveiled.Here are eight things to know about the CEO of Nio:<h2>1. Li grew up on a dairy farm</h2><div type="image" title="William Li onstage in front of an image of the countryside" height="1737" width="2605" msid="108900733" hostid="261" sizebytes="120372"></div>Born in 1974, <a target="_blank" href="https://www.scmp.com/magazines/style/tech-design/article/3101572/chinas-elon-musk-billionaire-brains-behind-start-ups">Li grew up on a dairy farm</a> in China's agricultural Anhui province, where his village didn't have electricity until he was in high school.He gained entry to one of China's most prestigious universities, Peking University, to study sociology and law. He launched his first company at the age of 21.He's since gone on to cofound and invest in <a target="_blank" href="https://www.niocapital.com/en/team/4.html#:~:text=developed%20into%20Dangdang.-,Mr.,the%20internet%20and%20automotive%20industries.">40 companies</a> across the internet and automotive industries — three of these have gone public, per <a target="_blank" href="https://www.ft.com/content/6df9031b-4dca-405d-8165-6983de270e68">the FT</a>, including Bitauto in 2010 and Nio in 2017.It's unclear what Li's net worth is — though he's listed as a billionaire in some rankings, he's not currently included on Bloomberg's Billionaires Index.<h2>2. He co-founded his first major company in his mid-twenties</h2>Bitauto, a car comparison website, was co-founded by Li in 2000. It was his first major success in the market, and went public on the New York Stock Exchange in 2010.In 2020, it was taken private with a $1.1 billion buyout, and Li resigned as CEO to turn more of his attention to Nio.<h2>3. His company is pioneering battery-swapping charging technology</h2><div type="image" title="a Nio car in the Nio battery-swapping station" height="2784" width="4176" msid="108900735" hostid="261" sizebytes="516994"></div>Li is distinguishing his company from other EV players like Tesla and BYD with <a target="_blank" href="https://www.businessinsider.com/ev-battery-swapping-china-rescue-us-revolution-2024-2">battery-swapping technology</a>.Instead of users plugging in their cars and waiting to charge, they can swap out the dead battery for a fully charged one at a designated station. The process takes just under five minutes.To manage costs, customers can buy the car without a battery and then pay a monthly subscription to access the swapping stations. It has more than 2,000 stations around China and around 30 in Europe.There's still a while to go to build up the infrastructure of this service and it remains more expensive than regular charging.<h2>4. His latest Nio model can shake off snow like a puppy</h2><div type="image" title="Camouflaged Nio ET9 shaking off snow" height="809" width="1442" msid="108900737" hostid="261" sizebytes="47646"></div>Nio's new ultra-premium model, the ET9, can independently <a target="_blank" href="https://www.businessinsider.com/nio-et9-ev-china-skyride-intelligent-chassis-snow-video-2024-2">shake off chunks of snow, clearing the windshield and roof</a>.Li also demonstrated the vehicle's stability in a <a target="_blank" href="https://www.nio.com/videos/nio-day-2023-a-new-journey">video</a> that showed champagne glasses full of liquid balancing on the front of the car while it drove over bumps.<h2>5. Nio cars come with a hefty price tag</h2><div type="image" title="A Nio parked in front of the NYSE" height="3724" width="6503" msid="108900740" hostid="261" sizebytes="930502"></div>Nio's premium smart EVs can be more expensive than a Tesla, <a target="_blank" href="https://www.cnbc.com/2023/04/18/nio-says-it-wont-join-the-price-war-and-slash-prices-like-tesla.html">CNBC</a> reported.The ET9, which starts shipping in China in 2025, will cost customers $112,000, making it Nio's most expensive car.Its mid-size cars, such as the Nio ES7 SUV, are priced at <a target="_blank" href="https://www.businessinsider.com/ev-electric-vehicle-china-brands-byd-nio-wuling-zeekr-geely-2023-5#2-nio-a-premium-ev-brand-says-it-will-not-join-teslas-price-war-3">around $68,000</a>, a lot pricier than the Tesla's Model Y, which comes in the <a target="_blank" href="https://www.reuters.com/business/autos-transportation/tesla-raises-price-model-y-long-range-china-nov-21-2023-11-21/">$40,000 range in China</a>.<h2>6. Li's fans can direct message him anytime they want</h2><div type="image" title="William Li at the launch of the NIO phone" height="2427" width="3640" msid="108900742" hostid="261" sizebytes="340364"></div>Li wants Nio customers to feel like they're <a target="_blank" href="https://www.ft.com/content/6df9031b-4dca-405d-8165-6983de270e68">members of a club.</a>Anyone who purchases a Nio car can access <a target="_blank" href="https://www.businessinsider.com/nio-tesla-of-china-has-swanky-clubhouse-for-car-owners-tour-photos-2018-10">"Nio Houses"</a> equipped with meeting rooms, lounges, baristas, and supervised kids' play areas.Last year, the company launched its own <a target="_blank" href="https://www.nio.com/news/NIO_IN_2023">Nio smartphone,</a> which connects to Nio EVs — customers can use the phone to unlock their car, adjust their seat preferences, and <a target="_blank" href="https://www.reuters.com/technology/chinese-ev-maker-nio-launches-first-mobile-phone-2023-09-21/">activate the car's self-parking feature.</a>Nio owners can also directly message Li in the car's app with feedback. This has meant that some senior execs from the company have faced calls from Li in the middle of the night to implement customer suggestions, per the <a target="_blank" href="https://www.ft.com/content/6df9031b-4dca-405d-8165-6983de270e68">FT.</a><h2>7. Nio developed a battery that can last for over 649 miles — and Li livestreamed himself trying it out for 14 hours</h2><div type="image" title="William Li" height="1667" width="2500" msid="108900744" hostid="261" sizebytes="196144"></div>In December, Li showcased the EV's groundbreaking battery lifespan with a <a target="_blank" href="https://www.businessinsider.com/nio-has-developed-ev-battery-with-a-1-000km-range-2023-12">livestream of his 14-hour car journey</a> from Shanghai to Xiamen — all done on a single battery charge.After covering the distance of 1,044 km (649 miles), the NIO ET7 was left with 3% charge.<h2>8. To Li's dismay, Nio cars are not yet available for sale in the US</h2><div type="image" title="Nio CEO, William Li with his hand on his head in front of the NIO logo" height="5760" width="8640" msid="108900746" hostid="261" sizebytes="1075200"></div>In an <a target="_blank" href="https://www.ft.com/content/8b903ae7-750f-460d-822b-adee7215c528">interview with the FT</a>, Li expressed dissatisfaction with the <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2">25% tariffs levied against Chinese-made EVs</a> sold in the US.He said geopolitical tensions between the US and China shouldn't impact business. Nio already has ties to the US: it's listed on the New York Stock Exchange, and most of its investors come from outside China.But some US manufacturing advocacy groups have called for a block on Chinese EVs being imported from their outposts in Mexico as a threat to domestic industry, <a target="_blank" href="https://www.reuters.com/business/autos-transportation/us-should-block-low-cost-chinese-automaker-imports-mexico-says-manufacturers-2024-02-23/">Reuters reported</a>. Elon Musk said that <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-warns-chinese-ev-firms-could-demolish-rivals-2024-1">"Chinese EVs would pretty much demolish"</a> American automakers if allowed to be sold in the US.

8 things you need to know about EV startup founder William Li — known as China's version of Elon Musk 

<ul><li>The pandemic has helped the <keyword id="4222766" type="PERSON" weightage="20" keywordseo="edtech-sector">edtech sector</keyword> in India flourish. Many players have witnessed impressive growth since the lockdown led to closure of educational institutes. </li><li><keyword id="3395125" type="PERSON" weightage="20" keywordseo="Cuemath">Cuemath</keyword>, an edtech platform focused on Math and coding grew 3X last year and is expecting to top that this year. It is also confident of becoming a unicorn by 2022.</li><li>We talk to <keyword id="1390946" type="PERSON" weightage="20" keywordseo="Arvind-Iyer">Arvind Iyer</keyword>, Marketing Director, Cuemath who tells us about the platform's growth story and all that its doing to bring more students to its platform.</li></ul>The last one year has been a blessing in disguise for the edtech industry. While over the past few years the sector had being growing steadily, the pandemic gave the sector just the tailwind it needed. According to a recent report released by transaction advisory firm RBSA Advisors, the <keyword id="11507888" type="UNKNOWN" weightage="20" keywordseo="Indian-edtech">Indian edtech</keyword> sector will take off, from its current market size of about $700-800 million to $30 billion in the next 10 years. While we have seen players that cover the entire spectrum of education, multiple subjects, test preparations, competitive exams, there also are subject-specific platforms that are making their presence felt in the domain. Cuemath was started in 2013 by <keyword id="3395126" type="PERSON" weightage="20" keywordseo="Manan-Khurma">Manan Khurma</keyword> who had just graduated from <keyword id="55119" type="COMPANY" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IIT) Delhi. After graduating, he started teaching, predominantly Maths, to a lot of aspirants to help them crack the JEE. His experience with many of the students made him realize that most of them did not have clarity on the fundamentals of the subject. Resultantly, they were struggling with advanced concepts like trigonometry and calculus. That led to the genesis of Cuemath, that started out in an offline format but has now gone online. The platform, in the initial few years, found growth primarily through word-of-mouth. What started in India soon found takers in other countries too, considering every child, across the globe, has to learn Math. In fact, currently, Cuemath is present in 20 countries, a number that the leaders hope to take to 50 by the end of this year. “Math is a universal need. It’s not a niche need. Every kid around the world needs to do Math. Therefore, every student is our target student. We are therefore creating and enhancing our market. And since Math is a basic global requirement, we get an edge over our competition,” said Arvind Iyer, Marketing Director, Cuemath. Currently, Cuemath’s key markets are across four regions, North America and Canada; the Middle East, especially Dubai and Qatar, UK and Europe, where its business is growing steadily. The startup currently has plans of scaling 3-4X times in the US alone this year. “Cuemath is present in 20-odd countries, and it wants to reach over 50 countries by the end of this year. This plan includes strengthening its presence in North America, APAC, UK and Europe, and the Middle East, as well as entering countries in Africa and South America,” explained Iyer. The platform also underwent a rebranding recently to represent its evolution in the past 1.5 years, primarily its pivot from an offline to an online entity. The rebranding entails a new logo and colour palette. <div type="image" title="cuemathTwitter" msid="83830583" hostid="261"></div> Explaining the thought behind the rebranding, Iyer said, “We want to make parents and students believe in the power of math and its potential to unlock innumerous possibilities. We intend to project ourselves as a brand of consequence where intuition for math trumps marks and performance in exams. Being a company that works at scale across geographies, we needed a winning strategy that will be in alignment with our mission to be a Global Math Leader of the future - to portray trust, expertise, and freshness, globally. This needed a fresh way of looking at our brand, our visual identity, and our communication objectives which are: to come across as trustworthy but not formal, to sound lighthearted but not juvenile, to have academic rigor but not be strict and to be viewed as innovative not newfangled.” It has also refreshed its tagline to ‘Get better at Math, Get better at everything else’. When it comes to marketing, the platform has been following a targeted approach, while monitoring its funnel conversion metrics closely. “We are constantly improving our communication assets to make them work harder for the parent, and get them to discover the Cuemath method. We believe in always adding value to the lives of parents, students and teachers. Everything we do is a reflection of what they seek and find useful. Having said that, our focus this year is going to be on building brand awareness and performance marketing to acquire new students through all our social, digital, TV and PR channels,” explained Iyer. If a recent estimate from <keyword id="50041" type="COMPANY" weightage="20" keywordseo="KPMG">KPMG</keyword> is to be believed, India has more than 3,500 <keyword id="2989202" type="PERSON" weightage="20" keywordseo="edtech-startups">edtech startups</keyword>. So how does one break the clutter? “I strongly believe that the pedagogy we adopt here at Cuemath is a major factor to give us an edge over our competitors. We are obsessed about having this constant zeal to help the child so that his or her learning graph just keeps going higher. We take pride in portraying math as a life skill which can make children better at everything by enhancing their critical and analytical thinking which many of our competitors don’t do,” he added. Owing to the fact that the knowledge of Math is a universal requirement, Iyer is confident that they will be able to capture the global markets too. Since 2017, it has grown over 10 times, from Rs 15 crore to now a Rs 150 crore company. From 7000 students on its platform in 2017, the platform grew to 60,000 students in 2020. From 1000 in 2017, it increased its teachers count to 10,000 in 2020. “We have very strong unit economics, which means we don’t lose any money on a consumer acquisition but on an overall level since we are re-investing all of our revenue back into growth, we aren’t profitable yet. So profitability right now isn’t a goal, but growth is the focus. The Math market around the world is a 20 Billion Dollar market and we plan to win that market. Our focus is to drive growth and become a unicorn, a billion dollar company by the end of 2022,” concluded Iyer on an optimistic note.

Our aim is to become a billion dollar company by the end of 2022: Arvind Iyer, Cuemath

<ul><li>The global market for lab grown diamonds (<keyword id="10733616" type="General" weightage="80" keywordseo="lgd" source="Orion">LGD</keyword>) that the Indian government has decided to focus on is expected to rise to $5 billion by 2025.</li><li>Besides, the jewellery industry, LGD are used in computer chips, satellites and 5G networks.</li><li>The LGD has vast application in the field of defence, optics, jewellery, thermal and medical industry.</li></ul>Chennai, The global market for lab grown diamonds (LGD) that the Indian government has decided to focus on is expected to rise to $5 billion by 2025 and exceed $15 billion by 2023 from the $1 billion in 2020. Besides, the jewellery industry, LGD are used in computer chips, satellites and 5G networks as they can be used in extreme environments due to their potential to operate at higher speeds while using less power than silicon-based chips. The LGD has vast application in the field of defence, optics, jewellery, thermal and medical industry. As the government figures, exports of cut and polished (worked) LGD from India has been growing at fast clip. During FY21 the exports were $637.97 million and shot up to $1,348.24 million in FY22. This fiscal -- FY23 -- the exports of LGD between April-December stood at $1,387.33 million. Presenting the Budget 2023-24 in the Parliament recently, Indian Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>, said: "The LGD is a technology and innovation-driven emerging sector with high employment potential." "These environment-friendly diamonds have optically and chemically the same properties as natural diamonds. To encourage indigenous production of LGD seeds and machines and to reduce import dependency, a research and development grant will be provided to one of the IITs for five years," she added. As per a recommendation made by the <keyword id="113018" type="General" weightage="50" keywordseo="department-of-commerce" source="Orion">Department of Commerce</keyword>, the research grant of Rs 242 crore over a period of five years to <keyword id="55119" type="General" weightage="50" keywordseo="indian-institute-of-technology" source="Orion">Indian Institute of Technology</keyword>, Madras (IIT-M) has been approved. It is proposed to establish an India Centre for lab grown diamond (InCent-LGD) at IIT-M with the estimated cost of Rs 242.96 crore over five years. The aim of this project is to provide, in mission mode, technical assistance to the industries, and entrepreneurs in the country, in promoting indigenous manufacturing of both chemical vapour deposition (CVD) and high pressure and high temperature (HPHT) systems along with the recipes for expanding the LGD business at the upstream end. Research efforts would make the technology available for start-ups at affordable cost, increase employment opportunities, increase exports of LGD, thus play a significant role in fuelling India's economic growth. According to the Indian government, the gems and jewellery sector plays a significant role in the Indian economy, contributing around nine per cent to India's total merchandise export. Over the past decade, there has been several positive developments in the gem and jewellery sector globally. One of the major technological developments in this sector has been the LGD. Though, India is one of the leading producers of LGD using CVD technology it has to depend on other countries for the supply of critical machinery components and 'seeds' -- which are the raw material for producing synthetic diamonds. It is, therefore, imperative that India develops its own, indigenous technology for producing the critical machinery component seeds to remove the import dependence that we have in the case of natural diamonds, the government said. Good quality LGD with qualified certification, produced from the developed equipment and process parameters will attract many foreign customers increasing the export volume of LGD and scalability of production. The documented process parameters and the developed recipe will encourage new entrepreneurs to enter the LGD business making it easier and cost-effective to set up the facility, start the business and generate employment. "This is indeed the right time to set up a diamond factory in India, given that diamonds have thermal and electrical properties making them superior to contemporary technologies like silicon, <keyword id="1437475" type="General" weightage="50" keywordseo="silicon-carbide" source="Orion">silicon carbide</keyword> and gallium nitride. IIT-Madras will work towards producing diamond wafers suitable for electronic applications," V. Kamakoti, Director of IIT-M, had said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-chrome-rolls-out-memory-and-energy-saver-modes-heres-how-you-can-use-it/articleshow/98118135.cms">Google Chrome rolls out Memory and Energy Saver modes: Here’s how you can use it</a> <a href="https://www.businessinsider.in/tech/news/oneplus-11-concept-video-reveals-a-large-camera-and-a-rear-panel-that-lights-up/articleshow/98112845.cms">OnePlus 11 Concept video reveals a large camera and a rear panel that lights up</a>

Not just jewellery, lab grown diamonds used in satellites, computer chips too

Ahead of Nazara Technologies’ IPO, the CEO says its public listing will put Indian gaming on the world map

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

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