Latest news with #SameerJoshi
Mint
2 days ago
- Business
- Mint
NRT in talks to raise ₹450-crore Series B round from Cornerstone Ventures, others
NEW DELHI : Bengaluru-based defence startup NewSpace Research and Technologies Pvt. Ltd (NRT) is in talks to raise a ₹450-crore Series B round, led by Cornerstone Ventures, by the end of this year, said three people close to discussions. Founded in April 2017 by Sameer Joshi and Julius Amrit, the startup is currently raising a ₹267-crore bridge round, with about ₹140 crore already subscribed by existing investors. 'Cornerstone Ventures did not participate in the bridge round but plans to come in during the upcoming Series B," said one of the three people. The company has appointed LGT Wealth India, among others, as advisors to help with the fundraising, and the transaction is undergoing due diligence, the people said. 'The company has grown well over the last year as Operation Sindoor gave it an uptick for its Loitering Munition Systems (LMS) drones," said the second of the three people. In Operation Sindoor, India's precision strikes on terror camps in Pakistan in the aftermath of the Pahalgam terror attack, loitering munitions systems were deployed—with NRT's swarm drone technology reportedly playing a key role. Mint queries sent to NRT, Cornerstone, 360 One Asset, an investor in the company, and LGT Wealth India did not elicit a response. The fundraising comes as India's drone sector enters a high-growth phase. According to a FICCI-EY report, India's drone manufacturing potential is projected to grow from about $4.2 billion by 2025 to $23 billion by 2030, driven largely by defence, agriculture, logistics, and infrastructure demand. The study notes that defence applications—particularly swarm drones and high-altitude, long-endurance platforms—are expected to account for a significant share of this growth as India seeks to become a global drone hub. In expansion mode For 2023-24, NRT's revenue from operations stood at ₹96.25 lakh, down sharply from ₹103.02 crore a year ago. Total revenue for the year stood at ₹5.20 crore, compared to ₹108.15 crore in the previous fiscal. It reported a loss of ₹62.07 crore in 2023-24, against a profit of ₹1.24 crore a year ago, showed company filings with the ministry of corporate affairs, accessed by data platform Tofler. 'They've already closed a significant part of the bridge round, and the Series B will help tide them over until payments from larger defence contracts come through," said the first of the three people cited above. In February 2022, it secured $21 million in a Series A led by Pavestone Technology Fund to support deliveries to the armed forces. This was followed in December 2022 by a ₹26.6 crore (~$3.21 million) pre-Series B, backed by QRG Investments & Holdings, Ahmed Ali Husain Nalwala, and DS Group. This fresh round comes a year after its biggest boost in March 2024, when it raised $52 million in a bridge round—$33 million in equity from investors including Cornerstone Venture Partners, 360 ONE Asset, and Volrado Venture Partners, along with $19 million in debt from State Bank of India's startup hub and Small Industries Development Bank of India—marking one of the largest equity raises for an Indian defence startup. This capital influx has enabled the company to expand production and innovation in swarm drones and related aerospace systems. NRT designs and develops high-altitude, long-endurance drones (HAPS) capable of operating for months at altitudes of 5-20 km, as well as AI-enabled autonomous swarm drone systems for both military and civilian applications. The company collaborates closely with the Defence Research and Development Organisation (DRDO), India's premier military R&D agency. Its top competitors include US-based Anduril Industries and Shield AI, both of which develop AI-enabled autonomous defence systems, and Tata Advanced Systems, a major Indian defence manufacturer with growing capabilities in unmanned platforms. Like NRT, these companies focus on integrating advanced sensors, autonomy, and swarming capabilities for military operations, according to market intelligence platform Tracxn.
Yahoo
4 days ago
- Business
- Yahoo
Nuclear Startup Oklo Soars As AI Boom Sparks Need For New Power Sources
Oklo Inc. (NYSE:OKLO) shares jumped Tuesday after the nuclear startup advanced a key regulatory milestone for its Aurora Powerhouse reactor. Analysts cited accelerating approval timelines, rising U.S. electricity demand from AI and data centers, and strong bipartisan policy support for next-generation nuclear power as reasons for the rally. The nuclear startup reported a second-quarter loss of 18 cents per share, missing estimates for a loss of 12 cents per share, according to Benzinga Pro. Oklo reported operating losses of $28 million in the second quarter, primarily driven by payroll, stock-based compensation and general business is OKLO's current stock price? Find out here. HC Wainwright & Co. analyst Sameer Joshi reiterated the Buy rating on Oklo, raising the price forecast from $55 to $90. Joshi raised the Oklo price target to $90 from $55, citing several drivers. The analyst pointed to ongoing regulatory progress, with Phase 1 of the pre-application readiness review for the combined license application (COLA) for the Aurora Powerhouse underway. The analyst also noted durable, bipartisan political support for nuclear power in the U.S., rising electricity demand, especially from AI and data center build-outs, and policy tailwinds from the ADVANCE Act of 2024 and executive orders issued on May 23, 2025. Most consequential, in his view, is the acceleration of mandated approval timelines from more than two years to roughly 18 months, which meaningfully compresses the path for both COLA and subsequent COLA (S-COLA) approvals. The analyst emphasized Oklo's technical positioning as one of the few fast-reactor developers able to use down-blended uranium and plutonium-based fuels that do not require enrichment, giving the company fuel optionality as initial units are deployed. Joshi said the company has engaged productively with the U.S. Nuclear Regulatory Commission over several years and has now completed a significant step toward approval. In his assessment, broad industry momentum should support overall nuclear growth and benefit early movers in advanced reactors, including Oklo. He also flagged Oklo's radioisotopes arm, Atomic Alchemy, which has designed a proprietary Versatile Isotope Production Reactor (VIPR) aimed at delivering efficiency, scalability and operational simplicity for isotope output, potentially consolidating a fragmented supply chain under one platform. Joshi said the company targets first powerhouse deployment in 2027–2028 and aims for 1 GW installed by 2031. He projects revenue below $5 million in 2026–2027, rising to about $12 million in 2028 and surpassing $21 billion by 2038, a ten-year CAGR of 112%. He expects gross margins excluding D&A to turn positive in 2029 and stabilize around 65%–75% as powerhouses scale. He also models total operating expenses, including D&A, climbing from roughly $105 million in 2025 to $2.3 billion in 2038, a thirteen-year CAGR of 27%. Price Action: OKLO shares are trading higher by 8.98% to $78.31 at last check Tuesday. Read Next:Photo by via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Nuclear Startup Oklo Soars As AI Boom Sparks Need For New Power Sources originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Time of India
09-07-2025
- Entertainment
- Time of India
Streaming platforms focus on 'second screen' to script growth
Streaming platforms have been increasingly instructing web series writers to adopt 'second screen content' writing style in their presentation of stories in the past six months in a bid to capture and convert price-sensitive and daily-soap exposed audiences, especially in tier-2 and -3 cities, into paid subscribers, said industry observers and scriptwriters. Today, 55% of streaming content consumption happens in non-metros and rural areas. The second screen content writing style follows simplistic storytelling, assuming that viewers are distracted. In this style, viewers don't miss any detail of a story while performing multiple tasks since a lot is conveyed through dialogues. "In a meeting with a producer of a leading streamer, I was told to write in such a manner that everything is spelt out by each character. This includes what happened in the previous episode. There is no room for nuance and subtlety in second screen content," said scriptwriter Jaidev Hemmady. Falling attention spans have been a key factor contributing to the increasing trend of second screen content. Studies show the average human attention span in India has fallen to 8.25 seconds from 12 over the past two decades. This is one reason second screen content is also called ambient viewing. "In a recent meeting, a leading streamer explicitly told me to adopt second screen content writing style. This is a value addition in briefs given to writers. The main brief is to look for unique and clutter-free stories," said writer-director Sameer Joshi. Live Events One of the key changes resulting from the rise of second screen content is the blurring of distinctions between television and streaming content. "In the early phase, streaming content was largely about intimate viewing and immersive storytelling. Second screen content will definitely blur the distinction in content style between television and streamers. Just like individuals on social media, even streamers want devoted followers. Perhaps, second screen content will help them achieve this," pointed out veteran Hindi screenwriter Reshu Nath. Writers shared that second screen content is written by focusing more on "general" things rather than the "personal," which has a deeper context. "Second screen content on streamers is a trickle-down effect. It started with television. Several decision-makers in the Indian arms of streamers are from the television industry. We are told to water down or dumb down content by providing an experience in which people can point to a larger thing rather than something very small and nuanced," said independent writer-director Satavesha Bose. Another factor that has led to the adoption of second screen writing style is the data or algorithmic insights into viewers' viewing patterns on streamers. "Decision-makers in the streaming industry rely more on data points in creating content. I think second screen content is a trial to gauge whether streamers can get paid subscribers from non-metros," explained Joshi.
Yahoo
14-05-2025
- Business
- Yahoo
Blink Charging price target lowered to $5 from $8 at H.C. Wainwright
H.C. Wainwright analyst Sameer Joshi lowered the firm's price target on Blink Charging (BLNK) to $5 from $8 and keeps a Buy rating on the shares following the Q1 report. The firm cites continued weakness in product sales, which dropped down 69.5% year-over-year to $8.4M in Q1, for the target cut. The analyst remains cautious as Blink navigates the 'prevailing headwinds' challenging the electric vehicle charging industry, as well as the uncertain macroeconomic and geopolitical environment. H.C. Wainwright believes the company continues to target monetization of its ride-sharing business during 2025. Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on BLNK: Disclaimer & DisclosureReport an Issue Blink Charging Co. Faces Revenue Challenges Despite Cost Management Progress: Hold Rating Maintained Blink Charging Reports Q1 2025 Financial Results Blink Charging price target lowered to $1 from $2 at B. Riley Options Volatility and Implied Earnings Moves Today, May 12, 2025 Options Volatility and Implied Earnings Moves This Week, May 12 – May 15, 2025 Sign in to access your portfolio
