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<ul><li><keyword id="15023564" type="General" weightage="100" keywordseo="moneyplanned" source="Orion">MoneyPlanned</keyword> is an Indian personal finance platform that helps clients automate their financial goals. </li><li>The round was led by <keyword id="7036829" type="General" weightage="80" keywordseo="inflection-point-ventures" source="Orion">Inflection Point Ventures</keyword>, with participation from California-based startup accelerator <keyword id="15023565" type="General" weightage="50" keywordseo="expert-dojo" source="Orion">Expert Dojo</keyword>, Joseph R Saviano – partner at Dot Capital, New York, and <keyword id="241332" type="General" weightage="50" keywordseo="sameer-khan" source="Orion">Sameer Khan</keyword>, executive director corporate <keyword id="6374832" type="General" weightage="50" keywordseo="treasury" source="Orion">treasury</keyword>, <keyword id="133737" type="General" weightage="50" keywordseo="dbs-bank" source="Orion">DBS Bank</keyword>, Singapore. </li><li>MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crore. </li></ul> Fintech company MoneyPlanned on Monday raised over ₹2.5 crore in a seed funding round led by Inflection Point Ventures. The other investors who participated in the round include California-based startup accelerator Expert Dojo, Joseph R Saviano – partner at Dot Capital, New York and Sameer Khan – executive director corporate treasury, DBS Bank, Singapore. Founded in July 2020 by Sameer Shashank Gattupalli and Nikhila Putcha, MoneyPlanned is a fintech platform assisting clients to automate their financial goals. The funds raised will be used for marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams. “India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that's one of the biggest lessons from the Covid pandemic. MoneyPlanned’s platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix,” <keyword id="6342098" type="General" weightage="50" keywordseo="vinay-bansal" source="Orion">Vinay Bansal</keyword>, Founder CEO, Inflection Point Ventures, said. MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crores. The founders aim to build an advanced financial planning platform powered through technologies like AI and blockchain that performs like an in-person financial planner. According to a survey conducted by <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword>, only 27% of India's population is financially literate. The ratio of advisors to investors is only 1:76000, which can be solved using technology, states MoneyPlanned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-best-deals-and-offers/articleshow/94004700.cms">Amazon Great Indian Festival sale announced – card offers, cashback, new launches and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/call-of-duty-warzone-mobile-announced-heres-how-to-pre-register-on-android/articleshow/94297494.cms">Call of Duty: Warzone Mobile announced — here’s how to pre-register on Android</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/anil-agarwal-profile-vedanta-resources-listing-in-london-stock-exchange-gujarat-semiconductor-chipset-plant/articleshow/94297057.cms">Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange</a>

Fintech company MoneyPlanned raises over ₹2.5 crore from Inflection Point Ventures, others

<ul class="summary-list"><li>Three astrophysicists discovered that <a href="https://www.businessinsider.com/first-time-scientists-have-grown-plants-in-moon-soil-2022-5">lunar dust</a> is just the right size to block the sun's rays.</li><li>Shooting 11 million tons of <a href="https://www.businessinsider.com/no-gps-on-moon-nasa-esa-artemis-plans-to-fix-2023-1">moon</a> dust into space could create a solar shield to cool Earth, they say.</li></ul>Three astrophysicists have an out-of-this-world solution for the <a href="https://www.insider.com/california-weather-whiplash-floods-drought-getting-worse-atmospheric-rivers-2023-1">climate crisis</a> — mining dust from the moon and shooting it into space between Earth and the sun.Researchers Benjamin Bromley, Sameer Khan, and Scott Kenyon say they've found that dust grains from the moon could be the right size to scatter sunlight and shield Earth from solar radiation, per <a href="https://journals.plos.org/climate/article?id=10.1371/journal.pclm.0000133#abstract0" target="_blank" rel="noopener">a paper published on Wednesday in the peer-reviewed journal PLOS</a>.If humans mine dust from the moon and shoot it into space, so that it settles about 1 million miles away from Earth, between our planet and the <a href="https://www.businessinsider.com/sun-polar-vortex-video-from-solar-plasma-break-2023-2">sun</a>, that would obscure the sun's rays by 1.8% — or around six days of sunlight per year — and lower the Earth's temperature, the researchers calculated.<div type="image" title="moon footprint" height="768" width="1024" msid="97812175" hostid="261" sizebytes="186366"></div>This moonshot solution is the latest in a series of ideas for blocking solar radiation to cool Earth. Other proposals include spraying aerosols into the stratosphere, or injecting sea salt into clouds above the ocean to make them brighter.These hypothetical schemes to block the sun — sometimes called "<a href="https://www.businessinsider.com/rogue-country-hack-climate-geoengineering-2019-5">geoengineering</a>" — aim to counteract the warming that humans' greenhouse-gas emissions have caused, thereby reducing catastrophic consequences like <a href="https://www.insider.com/climate-change-hurricanes-why-storms-are-wetter-stronger-slower-2019-7">severe weather</a> and water scarcity.However, many climate experts view geoengineering as a last resort, since it could have unintended consequences that scientists don't fully understand. Last year, hundreds of scientists signed an <a href="https://thehill.com/homenews/space/3849861-dust-from-the-moon-could-help-slow-climate-change-study-finds/" target="_blank" rel="noopener">open letter</a> asking world governments to pledge not to use solar geoengineering."While it is certainly true that reducing sunlight can cause cooling, it acts on a very different part of the climate system than carbon dioxide," Michael Mann, a a climate scientist at the University of Pennsylvania, told <a href="https://thehill.com/homenews/space/3849861-dust-from-the-moon-could-help-slow-climate-change-study-finds/" target="_blank" rel="noopener">The Hill</a> in response to the moonshot study.<div type="image" title="man shields baby's fun from the sun in kiddie pool" height="1666" width="2222" msid="97812176" hostid="261" sizebytes="270288"></div>"Efforts to offset carbon dioxide-caused warming with sunlight reduction would yield a very different climate, perhaps one unlike any seen before in Earth's history, with massive shifts in atmospheric circulation and rainfall patterns and possible worsening of droughts," he added.Geoengineering could be a distraction, too. Overwhelmingly, scientists say the main way to solve the climate crisis is to drastically cut emissions of heat-trapping gases.<div type="image" title="Heat wave" height="2019" width="2698" msid="97812177" hostid="261" sizebytes="39782"></div>Bromley, a professor from the physics and astronomy department at the University of Utah, and the project's lead researcher, is in agreement."I hope that humans can work together here at home to reduce greenhouse gases that trap the sun's energy so that something like this is not needed. But if we need more time, our idea could become important," he told Insider in an email.<h2>Cannon-balling 11 million tons of moon dust into space</h2><div type="image" title="moon sets below earth horizon against blackness of space" height="1500" width="1999" msid="97812178" hostid="261" sizebytes="19102"></div>Humans would need around 11 million tons of moon dust to create an effective enough "solar shield," the researchers estimated.The cheapest plan would involve launching the dust from the moon's surface, instead of Earth's, because it would take much less energy to eject the moon dust from there.The proposal involves shooting the dust into space with ballistics, meaning rockets aren't needed, Bromley said. Some of the technology to create the dust shield already exists, like dust scattering and mining, he added."Once dust is released, its only impact is to shade Earth. It will not otherwise interact with our planet again," Bromley and his team wrote.That means the dust shield could have no long-term impact on Earth's atmosphere, compared to many other Earth-based strategies to block solar radiation, they wrote.However, the grains of moon dust would eventually start drifting out of position, and humans would need to keep firing bursts of moon dust to replenish the shield's strength, the scientists wrote.<h2>The real solution is simpler than mining the moon</h2><div type="image" title="Solar panels in Xinjiang, China" height="2402" width="3203" msid="97812179" hostid="261" sizebytes="438514"></div>Bromley <a href="https://www.theguardian.com/science/2023/feb/08/moon-dust-moonshot-geoengineering-climate-crisis" target="_blank" rel="noopener">told The Guardian</a> that his team's idea shouldn't take the focus away from the primary climate goal of reducing emissions to stop the planet from heating up."Nothing should distract us from reducing greenhouse gas emissions here on Earth," he said, per The Guardian.Frank Biermann, a professor of global sustainability governance at Utrecht University, told The Guardian he thinks "mining the moon is not the answer that we need.""The idea to mine the moon or near-Earth asteroids in order to artificially block parts of the sunlight is no solution to the ongoing and intensifying climate crisis," he said, per The Guardian.Other research is still exploring other ways to divert the sun's rays. In 2022, <a href="https://www.whitehouse.gov/ostp/legal/" target="_blank" rel="noopener">the White House launched a five-year plan</a> to assess options involving "solar and other rapid climate interventions" to deal with the crisis.A group of Harvard researchers has also been researching the effectiveness of <a href="https://www.keutschgroup.com/scopex" target="_blank" rel="noopener">spraying tiny particles into the stratosphere to reflect the sun's rays</a> and reduce the impact of global warming. The project, known as SCoPEx, has <a href="https://www.reuters.com/article/climate-change-geoengineering/planned-harvard-balloon-test-in-sweden-stirs-solar-geoengineering-unease-idUSL8N2IY3SM" target="_blank" rel="noopener">Bill Gates' financial backing.</a>February 10, 2023: This story has been updated with comments from Bromley.

A new climate solution involves shooting moon dust into space to create a 'solar shield' around Earth, but scientists say it's a risky last resort

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Fintech company MoneyPlanned raises over ₹2.5 crore from Inflection Point Ventures, others

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A new climate solution involves shooting moon dust into space to create a 'solar shield' around Earth, but scientists say it's a risky last resort

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