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CHENNAI: Indian space-tech startups funding declined in 2024 (YTD), for the first time since 2018, despite the overall tech startup funding scenario improving 6% with $11.3 billion investments. Space funding fell more than 53% with a $59 million equity raise compared to $128 million last year, data sourced from Tracxn shows. While seed stage funding rose, early-stage funding dropped 65%. Despite the govt opening up certain domains in the sector in February, equity from foreign funds, full round amounts where at least one foreign investor has participated, fell 65% to $43.2 million. But industry stakeholders see this as a blip and are hopeful of revival based on growing appetite from govt and private players and increasing commercialisation by startups. Vishesh Rajaram, managing partner at Speciale Invest, a firm with multiple space bets, said year-on-year comparison to the sector will not show the full picture since the gestation period is longer. “Space startups do not need growth capital every year and it cannot be compared like consumer-tech companies. Overall momentum of the ecosystem is good with startups crossing significant milestones. Also, the number of venture firms interested in the sector has gone up,” he said. Neha Singh, co-founder of Tracxn, the market intelli- gence platform, said, “While there is a slight increase this year it is still lower than the $25.4 billion in 2022. This shows funding winter is behind for Indian startups and they are in a better place compared to global startups,” she said. She said the recovery is expected in the space sector as companies prove their capabilities and the likelihood of traditional investors participating in the maturing players. Awais Ahmed, chief executive and founder of Pixxel said the Indian startup ecosystem is evolving with many starting around 2015-16. “Currently fundraising happens mostly in pre-seed and seed rounds and very few companies have raised beyond that. But we can expect more companies to raise series A and beyond in coming years,” he said. “Space is a multi-decadal thing and fruits of measures like liberalising foreign direct investments will be seen in five to10 years as companies will raise big-ticket funding in late-stages,” he said. He said companies need to have a sight on revenue and align their technological capabilities with market demands to grow to the next stage. Lt.Gen. A K Bhatt (retd), DG of Indian Space Association said public-private partnership in ISRO’s heavy lift launcher LVM3 and IN-SPACe’s earth observation constellation will generate demand for next five years. Downstream applications in sectors like agriculture, disaster management, insurance will further boost demand; and orbital launches of Agnikul and Skyroot expected in 2025 will further boost the confidence in the sector. “Rs 1,000 crore space VC fund announced by the govt will start operations in the next three-four months, and will help around 30 to 40 new companies at least in the preseed round in the next four to five years,” he added. Ready to Master Stock Valuation? ET’s Workshop is just around the corner!

By CLAIRE RUSH PORTLAND, Ore. (AP) — Googly eyes have been appearing on sculptures around the central Oregon city of Bend, delighting many residents and sparking a viral sensation covered widely by news outlets and featured on a popular late-night talk show. On social media, the city shared photos of googly eyes on installations in the middle of roundabouts that make up its so-called “Roundabout Art Route.” One photo shows googly eyes placed on a sculpture of two deer, while another shows them attached to a sphere. It’s not yet known who has been putting them on the sculptures. “While the googly eyes placed on the various art pieces around town might give you a chuckle, it costs money to remove them with care to not damage the art,” the city said in its posts. The Facebook post received hundreds of comments, with many users saying they liked the googly eyes. “My daughter and I went past the flaming chicken today and shared the biggest laugh,” one user said, using a nickname for the “Phoenix Rising” sculpture. “We love the googly eyes. This town is getting to be so stuffy. Let’s have fun!” Another Facebook user wrote: “I think the googly eyes on the deer specifically are a great look, and they should stay that way.” Others said the city should focus on addressing more important issues, such as homelessness, instead of spending time and money on removing the googly eyes. Over the years, the city’s sculptures have been adorned with other seasonal decorations, including Santa hats, wreaths, leis. The city doesn’t remove those, and views the googly eyes differently because of the adhesive, Bend’s communications director, Rene Mitchell, told The Associated Press. “We really encourage our community to engage with the art and have fun. We just need to make sure that we can protect it and that it doesn’t get damaged,” she said. The post and its comments were covered by news outlets, and even made it on a segment of CBS’s “The Late Show with Stephen Colbert .” The city regrets that its post was misunderstood, Mitchell said. “There was no intent to be heavy-handed, and we certainly understand maybe how that was taken,” she said. “We own this large collection of public art and really want to bring awareness to the community that applying adhesives does harm the art. So as stewards of the collection, we wanted to share that on social media.” The city has so far spent $1,500 on removing googly eyes from seven of the eight sculptures impacted, Mitchell said, and has started treating some of the art pieces, which are made of different types of metal such as bronze and steel. The “Phoenix Rising” sculpture might need to be repainted entirely, she said. For some, the googly eyes — like the other holiday objects — provide a welcome boost of seasonal cheer. “I look forward to seeing the creativity of whoever it is that decorates the roundabouts during the holidays,” one social media commenter said. “Brings a smile to everyone to see silliness.”Right after the Washington Commanders put together a 69-yard touchdown drive in two minutes and fourteen seconds to cut down the Dallas Cowboys ' lead to 20-17, returner KaVontae Turpin brought their momentum to a halt with a wild 99-yard kickoff return touchdown. It seemed like a broken play at first, as Turpin fumbled the ball only to pick it up, run one way, hit the kicking team with a nasty spin move to teleport himself into a whole lot of open field as he turned on the engines to show off his elite speed. 99 YARDS TO THE @KaVontaeTurpin was gone!! : #DALvsWAS on FOX : Stream on NFL+ https://t.co/LvklCbYJ1e pic.twitter.com/4ckMWDEDPL Turpin revealed his thoughts about the play postgame as he revealed his running to the right was part of the plan from the start. "I always do it when I've got nowhere to go and I'm in trouble, so I know I can just get them going one way then just spin back the other way," Turpin told reporters . Turpin's talent was in full display on the play, as it wasn't all speed nor elusiveness in play. Rather, he saw it all play out in slow motion before executing. "I would've thought about just going and getting down but when I (saw) all of them going to the left, I just knew I can just bring the spin move, that's something nobody had ever seen before and hopefully I can get them from the backside," Turpin said about what he was thinking during the play. "And I just slipped right through." The craziness of the game didn't quite stop there, as the Commanders went on to score a touchdown and miss a PAT, a sequence followed by an onside kick return for a touchdown from Juanyeh Thomas to make it 34-26. But it'll be Turpin who goes home with the highlight of the day as the Cowboys get to take a deep breath after improving to 4-7. This article first appeared on A to Z Sports and was syndicated with permission.

US markets close mixed as sentiment faltersCongress faces government funding deadline after ThanksgivingSelcuk Bayraktar, chief technology officer of Turkey’s drone powerhouse Baykar, said on Thursday that Turkish companies now control 65 percent of the worldwide market for unmanned aerial vehicles (UAV). Baykar commands nearly 60 percent of the market all by itself. Bayraktar credited cooperation between Baykar and the Turkish government for the company’s rapid rise to dominance of UAV technology. Selcuk Bayraktar happens to be married to the daughter of Turkey’s authoritarian president, Recep Tayyip Erdogan. “In 2004, Baykar developed Turkey’s first robotic guidance system and the first mini-UAV when UAVs were not yet known in the world,” he recalled. More breakthroughs followed, including an air combat UAV called the Kizilelma, which Baykar delivered to the Turkish government a year ahead of schedule in 2022, and the famous Bayraktar TB series of ground attack drones, which became one of the hottest arms products in the world after bravura performances in the Armenia-Azerbaijan and Russia-Ukraine conflicts. Bayraktar drones were so devastating in the hands of Ukraine’s defenders that Russian President Vladimir Putin tried to pressure Turkey into banning sales of the platform to Ukraine. Erdogan refused Putin’s demands. The Bayraktar TB-2 is the system that set the world, and many a Russian tank, on fire. At a drone industry event in Istanbul on Thursday, Selcuk Bayraktar said the TB-3 will be equally revolutionary, boasting the ability to take off and land from ships with short runways. Last month, a TB-3 successfully performed both landings and takeoffs from TCG Anadolu, Turkey’s top-of-the-line drone carrier warship. Selcuk Bayraktar commemorated the achievements on social media: “The Bayraktar TB3 became the first combat UAV platform in the world that can take off and land from short-runway ships. The first trials were conducted last month. The Bayraktar TB3 has also started mass production,” he said on Thursday. Pakistan and Bangladesh are among the latest customers for Bayraktar TB2 drones, a development that made rival India very nervous . The Indian military has lately been warning that it will immediately shoot down any Bangladeshi TB2s that drift over the border. At the end of November, the Sudanese army announced it had deployed TB2 drones against the Rapid Support Forces (RSF) militia, its opponent in the brutal Sudanese civil war. Another product spotlighted at the Istanbul event was the Bayraktar Akinci , a long-range, high-endurance UAV that can carry enough ordnance to engage ground installations and ships at sea. Guided by satellite navigation, the Akinci can remain airborne for up to 24 hours at a stretch. The Akinci was originally developed for the Turkish military, but Baykar now exports it to customers in ten countries, including Pakistan and Morocco. Morocco’s first delivery of Akinci drones and compatible munitions is expected in February. “Baykar has prepared for the races of tomorrow, not yesterday’s or today’s,” he said, boasting that his company’s philosophy helped it grow to three times the size of its nearest American competitor. On Wednesday, Baykar announced that TB2 drones have accumulated over one million hours in flight, becoming the first Turkish-built combat aircraft to surpass that milestone.