Today’s Tech Check- “Seattle Ports Compete, Yousta’s Newest Store Launches, Sanjay Gupta Promoted, MountTech Growth Fund Spearheaded, Paytm Fined for Stamp Duty Evasion”
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1. “Seattle Ports Compete for $500M Federal Boost in Zero-Emission Technology”
- Seattle-area ports apply for $500M to transition to zero-emissions tech
- Funding includes electrification, clean fuels, and infrastructure upgrades
- Key initiatives: shore power, electric cargo handling, truck incentives, fuel research.
- Port leaders (Fujimoto, Adams, Jordan) emphasize decarbonization benefits.
- Private sector (e.g., Amazon, Walmart) driving pressure for shipping cleanup.
#Sustainability#Port of Tacoma#Port of Seattle#Seattle#shipping#Civic#Amazon#Northwest Northwest Seaport Alliance#Clean Tech
2. “Now Open: Yousta’s Newest Store Launches in Lucknow, Uttar Pradesh by Reliance Retail”
- Yousta, Reliance Retail’s youth-focused fashion brand, opens a new store in Lucknow, Uttar Pradesh.
- The store offers stylish and affordable clothing options to Lucknow’s fashion-conscious youth.
- Yousta has rapidly expanded across India, with stores in multiple states.
- To celebrate the launch, a “Star of Lucknow” contest encourages customers to share photos on Instagram for a chance to win Yousta merchandise.
- The store features tech-enabled amenities like self-checkout counters and charging stations.
- Yousta partners with local non-profits to promote clothing donations for sustainability and community support.
#News#Article#sustainability
3. “Sanjay Gupta Promoted: From Google India Head to APAC President — A Milestone Achievement”
- Google India head Sanjay Gupta promoted to APAC president, succeeding Scott Beaumont.
- Gupta highlights APAC’s potential for growth and innovation, especially in AI.
- He aims to expand Google’s footprint, invest in technical infrastructure, and support the tech community in the region.
- Beaumont, the outgoing president, praised Gupta’s ambition and vision.
- Gupta believes APAC has a thriving tech ecosystem and governments that embrace AI as a driver of economic growth.
#innovation#AI#Google
4. “MountTech Growth Fund Spearheaded by Ex-Defence Secretary Ajay Kumar Achieves Initial Funding Milestone”
- Former Defence Secretary Ajay Kumar launches MountTech Growth Fund (MGF) focusing on defence, aerospace, and deeptech sectors.
- Initial close exceeds target corpus with INR 280 Cr secured and a green-shoe option for additional INR 250 Cr.
- Fund supported by Suryakant Dalmia and other LPs.
- MGF aims to invest in startups aligned with India’s strategic needs and Atmanirbhar agenda.
- Aerospace, defence, and deeptech industries gaining attention from the government, with significant funding allocated to support growth.
- Startup investments reached $5.3 Bn in H1 2024.
#funding#Internet#strategic#News#startup#Startup
5. “Paytm Fined for Stamp Duty Evasion: What You Need to Know”
- Paytm fined for unpaid stamp duties on employee stock options (ESOPs) from 2008 scheme.
- Fines levied by Office of Collector of Stamps in New Delhi amount to INR 620.
- Paytm admits to delayed submission of applications for duty payment.
- Fines follow recent regulatory actions by SEBI, including a show cause notice and administrative warning letter.
- Paytm’s consolidated net loss widened by 134% in Q1 FY25, while revenue from operations declined by 36%.
#employee#News#war#stock
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