Beware the quantum computers
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Julius Amrit, co-founder, TeamIndus - Debasish Bhaduri
TeamIndus, a private aerospace start-up, and the only Indian team attempting to launch a spacecraft on the moon, is exploring crowd funding, sponsorship and ticketing route as possible fund raising options.
The start-up which has, so far, raised $35 million (approximately ₹250 crore), has to raise the other half of $35 million within a revised deadline of March 2018. The project is estimated to cost close to $ 65-70 million (approximately ₹ 500 crore).
According to Sheelika Ravishankar, Marketing and Outreach, TeamIndus, the company would launch a platform (for crowd funding) in the next couple of weeks inviting people to contribute towards its ‘Moon Mission’.
The Bengaluru-based start-up, is among the five finalists in the $30 million race to the moon, under the Google Lunar XPRIZE competition. It invites privately funded teams to place a spacecraft on the moon’s surface, travel 500 metres and transmit high definition video and images back to earth.
“We have raised half of our total requirement. For the balance, conversations are on, and will fructify soon,” Ravishankar told BusinessLine.
The investors include Nandan Nilekani, co-founder Infosys, Rajiv Mody, CMD and CEO of Sasken Communication Technologies, Subrata Mitra and Shekhar Kirani, partners, Accel Partners and Sharad Sharma, co-founder, iSpirit. Investments have been made in their private capacities.
The firm got a breather with the competition deadline being extended by three months. The previous deadline was in December this year.
“Funding is an issue, which we are tring to figure out. We hope to put things together soon,” Julius Amrit, co-founder, TeamIndus, India said.
The company will launch its spacecraft aboard ISRO’s Polar Satellite Launch Vehicle (PSLV), from the Satish Dhawan Space Centre in Sriharikota. The team is in talks with its launch providers to get a suitable date.
The team, which has 100-odd members comprise young engineers and a dozen retired ISRO scientists.
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Rocketship’s Anand Rajaraman on getting pitches from places like Rameswaram and Patna
Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies
Ably skippered by N Srinivasan, India Cements is upping its post-Covid-19 game by expanding capacity
Three-in-one: Passive debt funds come at a low cost and have high-quality portfolios. Some offer return ...
Trend in the rupee movement and Q4 earnings can give direction to the market
There is room for improvement in fund transfer options
Silver looks positive but lacks the higher volumes required to substantiate bullishness
Murder is a theme that is unlikely to darken and yellow with time, the writer Truman Capote had once said.
On Ugadi, the Telugu New Year Day, a chronicler recalls slices of an isolated year gone by and realises that ...
In her novel based on the life of Rani Jindan Kaur, author Chitra Banerjee Divakaruni crafts a hero for the ...
A domineering father, three resentful sons and a vile plan — director Dileesh Pothan, screenwriter Syam ...
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor