Using AI for English lessons; Filmmakers reclaiming Dalit narratives

Hello,

When you’re climbing the ladder of success, there’s only one way to go: up.

And SaaS firm Zoho is intent on scaling the summit, after being valued at over Rs 1 lakh crore and securing the second spot in the top 10 bootstrapped companies list in the 2024 Burgundy Private Hurun India 500 report.

The report saw Zoho trailing Serum Institute of India, which led with a valuation of Rs 2,11,610 crore. But the SaaS firm’s new valuation is nothing to sneeze at, marking a 58% jump from its previous valuation of Rs 65,700 crore. 

Meanwhile, Elon Musk’s Tesla is shifting its focus towards India, seemingly preparing to enter the world’s third largest auto market. 

The EV maker is looking to hire senior staff in India, and has selected locations for two showrooms in New Delhi and Mumbai—a long-delayed plan for the company. 

Tesla’s not the only company planning big moves. Musk’s X may also be planning a funding comeback at the same valuation it was bought for in 2022—$44 billion. 

While X is still in talks with investors, the funding round would be an incredible turn of fortunes for the platform, which bled users and advertisers after Musk’s takeover. In December, Fidelity Investments had marked down its stake by about 70% from the 2022 sale price.

The second time’s the charm.

In today’s newsletter, we will talk about 

• Using AI for English lessons
• Filmmakers reclaiming Dalit narratives
• An initiative for an inclusive society

Here’s your trivia for today: Which espresso drink is named for a religious order?

Startup

Using AI for English lessons

Gurugram-based edtech startup SpeakX helps users improve their English-speaking skills, allowing them to practice real-life conversations at their own pace. The company uses gamified elements such as points, badges, and leaderboards, and other multimedia content like videos and interactive exercises to make learning fun.

Keep learning:

• Operating on a B2C model, SpeakX’s app offers its services through a subscription model priced at Rs 299 a month. It currently has around 50,000 subscribers, with half of them from Tier II and III cities in North Indian states.
• It uses AI to provide instant feedback to learners to improve their fluency and grammar. It also helps determine the learner's progress and adjust the difficulty levels of topics.
• SpeakX also aims to expand operations to countries in the Middle East, Southeast Asia as well as Latin America in the next two years.

<Funding Alert>

Startup: Probus

Amount: $5M

Round: Series A

Startup: Healthfab

Amount: $1M

Round: Pre Series A

Inspiration

Filmmakers reclaiming Dalit narratives

Born into dalit homes, the bitter realities of caste-based exclusion left indelible marks on filmmakers Babita Gautam and Sahil Valmiki’s psyches as children. The discrimination enforced the idea that their worth would always be assigned by external forces–even before they could understand what they were.

Their commitment to telling their untold stories led them to a groundbreaking project—The Wound of Pyre—a film on the Dom community that premiered at Mariwala Health Initiative’s (also the film’s producer), mental health conference earlier this month in Mumbai.

Justice:

• The Dom community—often associated with the “lower-caste” status—primarily occupies traditional roles like musicians, performers, and artisans in India. 
• According to Valmiki, sustainable change requires a collective effort from NGOs, government bodies, and civil society. For him, true progress would be achieved when the community could reclaim its identity beyond the confines of its assigned labour.
• As a start, Gautam and Valmiki have developed a leadership programme specifically for members of the Dom community to train youth interested in media, filmmaking, and storytelling.

Social impact

Redefining gender roles

DS Group’s Saamya initiative is redefining gender roles by engaging young boys as allies in the fight for gender equality. It was launched in 2020 with a fundamental understanding: A gender-equitable society cannot be built if young boys are not part of the conversation.

Be the change:

• Saamya engages boys from an early age (7 to 11 years) to foster values of empathy, respect, dignity, and inclusivity.
• It has engaged with over 1,000 boys through its programmes. Over 500 families have actively participated in discussions and activities, and 100+ community leaders and stakeholders have been involved in gender sensitisation initiatives.
• Through activities like the Consent Wali Holi, where boys created posters and slogans promoting personal boundaries, and exercises in inclusivity such as accepting a peer with dwarfism without discrimination, Saamya aims to instil lifelong values to make them better human beings.

News & updates

• Bankruptcy: Nikola, an electric vehicle start-up that had once hoped to become the Tesla of heavy trucks, filed for bankruptcy protection on Wednesday. The company said in a release it had about $47 million in cash on hand, and intended to continue “limited” service and support for trucks out on the road.
• Strategic review: HSBC Holdings is finishing up a review of its Wall Street offerings around the world, a process that’s already resulted in the bank deciding to shutter certain investment banking businesses. The company has been examining its equities sales and research capabilities as part of the review. 
• New beginnings: Mira Murati, OpenAI’s former chief technology officer, has launched a rival artificial intelligence start-up focused on making the technology widely accessible.

Which espresso drink is named for a religious order?

Answer: Cappuccino. 

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