Good morning, Bengaluru!
☀️ Today’s weather: High: 35 ℃ | Low: 23 ℃ | Mainly clear sky.
🧐 Did you know? Bengaluru lies in a region known as Bayalu Seeme.
🚇 Cabinet approves Metro Phase 3
The Karnataka Cabinet has greenlit Phase 3 of the Bengaluru Metro along the Outer Ring Road (ORR), with an estimated cost of ₹15,100 crore.
The details: The project will extend Metro lines along the western stretch of the ORR from Hebbal junction to J P Nagar, covering a distance of 32.15 km. An additional 12.5 km line will be constructed between Hosahalli and Kadabagere. The state government will fund 80-85% of the project, with the remaining expected from the Centre.
- The eastern part of the ORR Metro line is already under construction and is set to be completed in two years.
- The Phase-3 project aims to alleviate traffic congestion along the ORR and increase Metro ridership, with a completion target of 2028.
Other approvals: The Cabinet also approved the creation of a tree park in East Bengaluru and sanctioned ₹23 crore for a Bhuvaneshwari statue at Vidhana Soudha. Additionally, a Special Investigation Team will be formed to probe the PSI recruitment scam, based on recommendations from the Justice B Veerappa Commission.
💰 Bengaluru leads startup funding
Bengaluru startups secured 53% of the total funding in February 2024, dominating the Indian startup ecosystem.
What’s it about? According to Private Circle, Bengaluru-based startups raised ₹2,661 crore out of the total ₹5,039 crore in funding, followed by Mumbai and Delhi NCR with ₹922 crore and ₹829 crore, respectively. Tier 1 city startups accounted for 99% of the total funding, with an average deal size of ₹33 crore, while Tier 2 and 3 cities raised just 1% with a smaller average deal size of ₹4 crore.
- The total funding in February 2024 increased by 43% compared to the same period last year, with 130 funding deals, up by 19%.
- The top deals were Shadowfax (₹829 crore), River (₹332.2 crore), and RentoMojo (₹210 crore).
Rising tiers: Angel funding was prevalent in Tier 2 and 3 cities, accounting for 34% of deals, while VC/PE deals were more concentrated in Tier 1 cities. Other notable cities in the funding landscape included Pune, Hyderabad, Jaipur, Chennai, Ahmedabad, and Kolkata.
🎞️ Teen Indie Film Awards 2024
The Teen Indie Film Awards 2024, hosted by RV University in Bengaluru, expands its international reach with the inclusion of Australia.
The schedule: TIFA 2024, set to take place from March 14 to 17, will showcase 14 Australian films, including the opening film, The Song Keepers, directed by Naina Sen. The festival has received over 300 submissions from six continents and aims to highlight diverse storytelling and foster cultural exchange between India and Australia.
- The event features panel discussions, film-themed book launches, and masterclasses by industry professionals.
- RV University officials note the festival’s growth and its role in fostering interdisciplinary collaboration among students.
Showcasing talent: Jury members and speakers include film critic Rahul Desai, actor-director Tiakumzuk Aier, and documentary filmmaker Tarini Manchanda. TIFA 2024 aims to showcase young filmmaking talent and serve as a forum for discussing cinema’s impact and evolution.
🛰️ Revolutionizing agriculture with satellites
Bengaluru-based startup Satyukt is harnessing open-source satellite data to provide affordable agricultural insights to Indian farmers.
What’s it about? Leveraging data from NASA, ESA, ISRO, and other agencies, Satyukt processes raw satellite data using advanced analytics and machine learning. This approach aims to address key challenges faced by farmers, including fertiliser usage, pest and disease management, and water resource management.
- The company’s mobile app allows farmers to define their land boundaries and access tailored information.
- The service is priced at ₹100 per acre per month, making it accessible to small and marginal farmers.
Agri background: Satyukt’s founder, Sat Kumar Tomer, with a PhD in Hydrology and Water Resource Sciences and an agrarian background, is at the forefront of this initiative. The company’s innovative use of satellite data aims to improve soil quality, moisture, and other critical agricultural parameters, thereby enhancing crop yields and sustainability.
✨ Things to do…
Here are some fun and interesting things to do in the city over the weekend!
- The food and music festival Zomaland by Zomato Live is back with its next edition this weekend.
- Enjoy a soulful evening by listening to Sonu Nigam live this Sunday.
- Laugh out loud with Gaurav Kapoor at his Chaman Chatora standup special this Saturday.
- Explore vegan choices at the Namu Recommends Vegan Market this weekend.
- Witness Bharatanatyam dancers Sayani Chakraborty and Deepali Salil perform the mystical Breath this Saturday.
🛋️ Local Lounge
Yesterday’s Poll Results:
- I believe in the concept of a soulmate: 50.0% 🏆
- I don’t believe in the concept of a soulmate: 50.0% 🏆
That’s it for today. Have a great weekend!