Entrepreneur Stories
How An Automobile Engineer Is Helping To Fight Against COVID-19
Published
5 years agoon
The world is currently going through an unprecedented crisis in the modern times. A highly infectious virus named COVID-19 has been spreading throughout the world with almost every country in the world reporting positive cases. The virus attacks the respiratory system and the infected person exhibits flu-like symptoms and can be fatal to old people or people with weak immune systems. The virus spread so quickly that healthcare professionals are unable to keep up with the influx of cases and hospitals are filled to the brim with no room to accommodate more cases in some countries. In the midst of this, there is an acute shortage of medical masks which come under personal protective equipment (PPE) for doctors and nurses. A normal surgical mask does not help with keeping the virus at bay and healthcare professionals require an N95 mask. An N95 mask or N95 respirator is a particulate-filtering facepiece respirator that meets the N95 standard of the U.S. National Institute for Occupational Safety and Health air filtration rating, meaning that it filters at least 95% of airborne particles.
The COVID-19 virus made its way to India and the central government sprung to action and imposed a nationwide lockdown for three weeks which began on March 24th,2020. India also has a severe shortage of PPEs with many doctors and hospitals complaining about a lack of the masks. The shortage is partly due to the panic buying indulged by the public and also due to unavailability of masks.
Times like these always give way to extraordinary individuals who rise up to the occasion. Abrar is one such individual who rose to the occasion. It all began when Abrar noticed the strain on the medical fraternity and the healthcare infrastructure due to lack of resources and PPEs. This prompted Abrar into action and got him thinking about how to create a face shield at home with simple raw materials easily available. After some initial brainstorming and research on the internet, it took Abrar 24 hours to come up with a working design for a face shield.
Abrar then put the prototype design on his Instagram handle and asked for feedback and support from his friends. What began as a simple post ended up becoming something bigger as it garnered more and more attention, friends and strangers ended up contributing money to help Abrar produce more such face shields. It took just one Instagram post for Abrar to collect two lakh rupees within 24 hours. Abrar has raised 3 lakh rupees so far which is roughly enough to produce 30,000 masks.
Abrar and a group of friends then came together to fine tune the design and with constant feedback from doctors, they were finally able to come up with a product that can be used by medical professionals. However, increasing production comes with its own set of problems as it severely restricts logistics and manpower mobility due to the lockdown set in place. Abrar is however hopeful that he could obtain official passes which would let manpower to venture outside.
Abrar believes that public health care units are the highest priority when it comes to delivering his face shields. The product received positive feedback and a lot of corporate companies working on essential services have contacted Abrar to buy the product for their on ground and field employees. Abrar sells the product to corporates at double the cost of raw materials and the profit will be used to make more products to be given away for free to public healthcare units. Abrar wants to connect with representatives from each state to teach them how to make the face shield themselves and cater to their local markets and Bombay is already on board. All communications happen via WhatsApp.
The team is currently working on two more designs which are costlier and involve higher quality raw materials. Abrar is an automobile engineer based out of Bengaluru and works for Ather Energy and has a passion for racing bikes. Abrar believes that more people need to be aware of how to make PPEs at home in order to help people who need it the most.
If you would like to be a part of this movement, you could contribute or get in touch with Abrar on his Instagram handle. There is also a handy guide to make a face shield by yourself on a link on his profile.
https://www.instagram.com/abrar_bin_ayub/
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Entrepreneur Stories
OpenAI Expands ChatGPT Advanced Voice Mode to Web Users!
Published
2 weeks agoon
November 21, 2024OpenAI has introduced its Advanced Voice mode for ChatGPT on the web, extending the feature that was previously available only on iOS and Android apps. This announcement, made via a post on X (formerly Twitter), signifies a significant expansion of the conversational capabilities of ChatGPT to desktop users.
Enhancing User Interaction
The Advanced Voice mode aims to make interactions with ChatGPT more natural and conversational. The feature is being rolled out this week to subscribers of ChatGPT Plus, Enterprise, Teams, and Edu. Free-tier users will have to wait a few weeks to access the feature as part of a limited monthly preview.
How to Use Advanced Voice Mode on the Web
Activating the voice feature on the web is straightforward. Users simply need to click the Voice icon in the prompt window’s bottom-right corner and grant their browser permission to access their microphone. Once activated, a blue orb at the center of the screen indicates that voice chat is active.
The voice feature offers nine output voices with unique tones and personalities. OpenAI has introduced five new voices—Arbor, Maple, Sol, Spruce, and Vale—in addition to existing options like Breeze, Juniper, Cove, and Ember. These voices are designed to create a lifelike and engaging dialogue experience, each with distinct emotional tones and the ability to emphasize certain words for more natural interaction.
For instance:
- Arbor is described as “easygoing and versatile.”
- Ember conveys a “confident and optimistic” tone.
This nature-inspired naming reflects OpenAI’s focus on making AI interactions feel smoother and more relatable.
Usage Limits for Subscribers
While paying users gain early access to this feature, there are daily usage limits in place. Plus and Teams subscribers will receive notifications when they have 15 minutes of voice usage left for the day. Free users will receive limited monthly access to test the feature.
Kevin Weil, OpenAI’s Chief Product Officer, noted that these measures are necessary to manage resource availability as the feature scales up.
A Controversial Missing Voice
One notable absence is the previously available “Sky” voice, which was removed following legal and ethical controversies. Critics alleged that Sky bore a striking resemblance to Hollywood actress Scarlett Johansson’s voice, leading to backlash and a lawsuit against OpenAI. Johansson’s legal representatives claimed that the company lacked permission to use a voice that closely mimicked her own. In response, OpenAI suspended this feature in May 2024.
OpenAI stated that any resemblance was unintentional, but internal comments referencing the film Her, where Johansson voiced an AI assistant, added fuel to the controversy. The company has since refrained from including voices that could lead to similar disputes.
What’s Next for Advanced Voice Mode
With this introduction of Advanced Voice mode on the web, OpenAI is taking another step toward making AI interactions feel more personal and accessible. The feature promises to transform user experiences by combining natural dialogue capabilities with versatile voice options.
As the rollout continues, OpenAI is expected to refine this feature further, eventually extending it to all ChatGPT users while addressing concerns around voice replication and ethical usage.
Future Enhancements
OpenAI plans ongoing improvements based on user feedback and technological advancements. The goal is not only to enhance user experience but also to ensure compliance with legal standards regarding voice replication.
In summary, with Advanced Voice mode now available on web platforms, OpenAI reinforces its commitment to creating engaging AI experiences that cater to diverse user preferences while navigating complex ethical landscapes associated with voice technology.
Entrepreneur Stories
Zepto Secures $300 Million, Doubling Its Funding Target Amid Quick Commerce Battle!
Published
3 weeks agoon
November 17, 2024Quick commerce startup Zepto is gearing up to raise $300 million from domestic investors, doubling its initial funding target, according to a report by The Economic Times. This latest funding round underscores Zepto’s growing influence in the competitive quick commerce sector, where it competes against Zomato’s Blinkit and Swiggy’s Instamart.
Overwhelming Investor Interest
The funding round has reportedly been oversubscribed, attracting prominent Indian family offices and ultra-high net worth individuals (ultra-HNIs). This reflects strong confidence in the sector and Zepto’s potential. The company has previously raised $1 billion and continues to position itself as a leading player in the booming quick commerce market.
Previous Funding Rounds
Zepto’s recent fundraising efforts have been impressive. In June, the company raised $665 million at a valuation of $3.6 billion, marking one of the largest financing rounds in the quick commerce space this year. The Series F round was co-led by existing investors such as StepStone Group, Nexus Venture Partners, and Glade Brook Capital, with new investors like Avenir Growth and Lightspeed Venture Partners joining in.
Increased Indian Ownership
Following this round, Indian ownership in Zepto is expected to surge to approximately 35%, which includes stakes held by its founders, Aadit Palicha and Kaivalya Vohra. Sources revealed that the founders have been granted an additional 1% equity for achieving key performance milestones.
Strategic Focus on Domestic Investors
Zepto’s strategy emphasizes building a strong base of Indian investors ahead of its anticipated IPO. The company aims to deepen relationships with high-quality domestic investors as part of its preparations for going public.
Celebrity and Corporate Participation
The funding round has attracted high-profile backers, including Bollywood legend Amitabh Bachchan and cricket icon Sachin Tendulkar, highlighting the optimism surrounding Zepto’s growth. Prominent investors such as the Ravi Jaipuria-led RJ Corp, Harsh Goenka’s RPG group, and the Motilal Oswal group have also committed significant funds. Notably, Motilal Oswal reportedly increased its commitment from $40 million to over $60 million.
Diverse Investor Base
Additionally, participation from other notable figures like Ranjan Pai of the Manipal Group and Ramesh and Rajeev Juneja of Mankind Pharma further solidifies Zepto’s support from domestic heavyweights.
Valuation and Stake Sale
Zepto is reportedly selling a 6% stake at a valuation of $5 billion, reflecting its growing dominance in the quick commerce space. A source familiar with the development stated, “The round was oversubscribed, prompting Zepto to increase the total offering.”
Focus on Growth and Innovation
With 1 million daily orders, Zepto has emerged as the only large private player in the quick commerce sector, distinguishing itself from publicly listed competitors like Swiggy and Blinkit. The company plans to expand its operations significantly over the next year by opening new dark stores—mini warehouses for rapid delivery—in various cities across India.
Expansion Plans
Zepto aims to increase its number of dark stores from around 350 to 700 by March 2025. This expansion is crucial as it seeks to enhance delivery speed and efficiency while meeting rising consumer demand for quick commerce solutions.
A Bright Future Ahead
Zepto’s ability to attract significant domestic investment and its strategic focus on Indian ownership signal its readiness to scale further in the competitive quick commerce market. This funding round positions Zepto for robust growth as it prepares for its next big milestone: going public.
Market Dynamics
As competition intensifies in India’s quick commerce sector, Zepto’s aggressive expansion strategy and strong financial backing will be critical in maintaining its market leadership against rivals like Zomato’s Blinkit and Swiggy’s Instamart.
Conclusion
With a successful track record of fundraising and an ambitious growth strategy, Zepto is well-positioned to capitalize on the burgeoning demand for quick commerce services in India. The recent funding initiatives not only reflect investor confidence but also underscore Zepto’s commitment to enhancing customer experience through innovation and operational excellence.
As it gears up for an IPO, Zepto’s focus on building a robust foundation with domestic investors will play a pivotal role in its long-term success in the rapidly evolving e-commerce landscape.
Entrepreneur Stories
Reliance, Viacom18, and Disney Complete Merger to Form ₹70,352 Crore Joint Venture!
Published
3 weeks agoon
November 17, 2024The much-anticipated merger of Reliance Industries Limited (RIL), Viacom18, and The Walt Disney Company’s media and digital assets has officially taken shape, creating a joint venture (JV) valued at ₹70,352 crore (approximately $8.5 billion). This transformative partnership brings together some of India’s most iconic television and digital brands, including Star, Colors, JioCinema, and Hotstar, into a single entity poised to dominate the media and entertainment landscape.
Regulatory Approvals and Details of the Merger
The merger received approvals from the National Company Law Tribunal (NCLT), the Competition Commission of India (CCI), and other regulatory authorities. The JV excludes anticipated synergies in its valuation and marks a significant milestone in the evolution of India’s media sector. The transaction is seen as a strategic move to consolidate resources and enhance content offerings in a highly competitive market.
Investment and Ownership Structure
Reliance Industries Limited invested ₹11,500 crore (~$1.4 billion) into the JV to drive growth and innovation. The post-merger ownership structure stands as follows:
- RIL: 16.34%
- Viacom18: 46.82%
- Disney: 36.84%
Additionally, RIL acquired Paramount Global’s 13.01% stake in Viacom18 for ₹4,286 crore, restructuring ownership within Viacom18 to:
- RIL: 70.49%
- Network18 Media & Investments Ltd.: 13.54%
- Bodhi Tree Systems: 15.97% (fully diluted).
A Media and Entertainment Powerhouse
The newly formed JV will operate over 100 television channels, producing an annual output of more than 30,000 hours of content. Its digital platforms, JioCinema and Hotstar, collectively boast a subscriber base exceeding 50 million. The JV also holds an impressive portfolio of sports broadcasting rights, covering cricket, football, and other major events.
Content Strategy
By combining resources from both Viacom18 and Disney, the JV aims to enhance its content library significantly. This includes leveraging popular franchises and exclusive sports rights to attract a broader audience across various demographics.
Leadership and Vision
Nita M. Ambani will serve as Chairperson of the JV, with Uday Shankar as Vice Chairperson, providing strategic guidance. Other key leaders include:
- Kevin Vaz (Entertainment)
- Kiran Mani (Digital Operations)
- Sanjog Gupta (Sports)
The JV’s pro forma combined revenue for FY 2023-24 is estimated at approximately ₹26,000 crore (~$3.1 billion), cementing its position as one of India’s largest media and entertainment companies.
Leadership Insights
Mukesh D. Ambani, Chairman & Managing Director of Reliance Industries Limited, called the merger a “transformational era” for Indian media. He stated, “Our collaboration with Disney and deep understanding of Indian audiences will provide unparalleled content choices at affordable prices.”
Robert A. Iger, CEO of The Walt Disney Company, expressed enthusiasm for expanding in India’s critical media market: “This JV will offer a robust portfolio of entertainment, sports content, and digital services, benefiting millions of viewers.”
Global and Local Impacts
The JV’s global significance is underscored by approvals from antitrust authorities in the EU, China, Turkey, South Korea, and Ukraine, alongside India’s CCI. This extensive regulatory approval reflects the merger’s strategic importance on both local and international fronts.
A Transformative Future
The merger not only reshapes the Indian media industry but also strengthens the global footprint of the entities involved. With strong leadership, a massive content portfolio, and innovative strategies, the JV is set to revolutionize entertainment in India and beyond.
Future Challenges
While the merger presents numerous opportunities for growth and innovation, it also poses challenges related to integrating two distinct corporate cultures and managing overlapping content strategies effectively.
Conclusion
The completion of this monumental merger between Reliance Industries Limited, Viacom18, and Disney marks a new chapter in India’s media landscape. By combining their strengths and resources into a single powerhouse entity, they aim to redefine entertainment consumption in India while expanding their influence globally.
As this joint venture progresses, it will be closely watched by industry stakeholders for its impact on content diversity, viewer engagement strategies, and overall market dynamics in the rapidly evolving media sector.
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