Global technology giant Apple held their annual product keynote in the Steve Jobs Theatre at the new Apple Park Campus in Cupertino, Calif, yesterday. The event was started with an homage to the Apple founder and icon Steve Jobs using an old voice recorded message from the founder.
Chief Executive Officer, Tim Cook then took the stage to begin the event at the company’s new head office. Speaking about the tribute he said, “It’s taken some time, but we can now reflect on him with joy, rather than sadness.” The head office was designed by Jobs before his demise six years ago. Cook also spoke about Apple’s efforts in helping Hurricane Irma and Hurricane Harvey victims in Florida and Texas respectively. The new headquarters Apple Park was built using sustainable materials and will be the first campus to use 100% renewable energy with a solar paneled roof to generate power.
The special event was the launchpad for multiple new products the company has been designing including their rebranded retail stores, now called the Apple Town Houses. The Apple Town Houses will also hold a new program called ‘Today At Apple’ where people can come together to learn different art forms such as coding, designing and photography. The new Watch Series 3 was also launched, which for the first time will allow users access to Apple Music to stream its 40 million songs, podcasts or Beats 1 radio shows. Priced at $399, the new upgraded watch comes with built in cellular connectivity that can be used to make phone calls as well. The Apple watch will be available in stores from 22 September.
The Apple TV was also unveiled at the event and offers a 4K resolution to the users along with standard HDR. Apple’s latest streaming device will be partnering with Netflix and Amazon to offer their programming in super high resolution. The high end TV will also be available from 22 September and will be more tightly integrated with Apple Music in its new iteration.
The real stars of the event were the three new iPhone models. The first iPhone that created ripples in the smartphone industry had up to 16 GB storage space, 1400 mAh battery, 3.5 inch screen and a 2.0 MP camera. The newly launched devices, according to Tim Cook, are far more intelligent, far more capable and far more personal than ever before. The three new models are named iPhone 8,iPhone 8 Plus and the iPhone X, which is pronounced as iPhone ‘ten.’ Along with the color, the camera and software of the iPhone 8 and iPhone 8 Plus have been upgraded while iPhone X packs a whole new arena of features.
The future of the smartphone is here.
The iPhone 8 and 8 Plus will be priced at $699 and $799 for the 64 GB versions respectively, while the iPhone X will cost a whopping $999. Both the iPhone 8’s will be available from 22 September where as the iPhone X will begin shipping from 3 November.
Jio Financial Services, through its NBFC arm Jio Finance Limited, has launched a fully digital Loan Against Securities (LAS) service. This innovative offering allows customers to secure loans up to ₹1 crore against their shares and mutual funds within just 10 minutes via the JioFinance app.
Key Features:
Digital Process: Entirely online for speed and convenience.
Loan Amount: Up to ₹1 crore.
Interest Rates: Starting at 9.99%, tailored to individual risk profiles.
Tenure: Maximum of three years.
No Foreclosure Charges: Flexible repayment options.
Strategic Impact:
The LAS offering aligns with Jio Financial’s broader digital strategy to make financial services more accessible and efficient. It complements existing products like home loans and corporate financing.
Market Response:
Jio Financial Services’ stock rose significantly following the announcement, reflecting investor confidence in the company’s digital expansion. The shares increased by up to 5.5% on the BSE, highlighting the market’s positive reception of this strategic move12.
Leadership Perspective:
Kusal Roy, MD and CEO of Jio Finance Limited, emphasized that this launch is part of a comprehensive digital strategy aimed at transforming customer interactions with financial services1.
Future Prospects:
With its focus on technology and customer convenience, Jio Financial is poised to become a leading player in India’s digital financial services sector.
Mumbai-based solar financing startup Aerem has raised ₹100 crore in a Series A funding round. The round was led by Japan’s University of Tokyo Edge Capital Partners (UTEC) and included investments from British International Investment (BII), SE Ventures, Riverwalk Holdings, and existing investors Blume Ventures and Avaana Capital.
Strategic Use of Funds
Aerem will use the funds to expand its operations across India, focusing on underserved eastern and southern regions. It aims to enhance its solar financing solutions, improve its B2B marketplace for solar equipment, and refine its tech platform. Additionally, the company plans to broaden its lending portfolio and reduce customer acquisition costs by leveraging its network of over 2,000 verified solar installers.
Aerem’s Impact
Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem provides comprehensive solutions for distributed solar energy adoption. Its services include:
Solar Financing: Loans for businesses and homeowners through its NBFC arm, NetZero Finance.
Equipment Procurement: The SunStore marketplace offers competitively priced solar equipment.
Support for Installers: Benefits for over 2,000 verified installation partners include financing access, quality equipment, and digital tools.
Aerem has enabled over 800 megawatts of solar capacity across 65 Indian cities, financing more than 800 projects. Its deployments have prevented nearly 22 million tonnes of CO₂ emissions and could save MSMEs up to ₹14,000 crore in energy costs.
Revenue Growth
Aerem reported significant revenue growth in FY24, with a 9X increase to ₹175 crore from ₹1.84 crore in FY23. This growth highlights the scalability of its business model.
Future Plans
With this funding, Aerem is poised to accelerate India’s transition to sustainable energy by eliminating barriers to solar adoption and empowering local businesses.
Sweet Karam Coffee, a Chennai-based brand specializing in traditional South Indian snacks and sweets, has raised $8 million in Series A funding from Peak XV Partners and Fireside Ventures. Founded in 2015 by Anand Bharadwaj and Nalini Parthiban, the company offers products free from palm oil and preservatives, catering to customers across 32 countries.
This investment follows a previous $1.5 million funding from Fireside Ventures in October 2023, which supported offline expansion. The new funds will be used to enhance distribution through omnichannel networks, develop new products, and bolster technology-driven supply chain capabilities.
Sweet Karam Coffee has grown its revenue four-fold over the past year and expects to grow another 2.5 times in the coming year.
The company has also appointed Nandhitha Indermohan, a former Unilever executive, as its Chief Operating Officer to boost operations. This strategic move positions Sweet Karam Coffee for further growth, leveraging the booming quick commerce sector and expanding its presence across India and globally.