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<ul class="summary-list"><li>Amazon founder Jeff Bezos has backed at least three spatial intelligence startups this year.</li><li>Spatial intelligence uses AI-powered robots to navigate freely within their environment.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/category/jeff-bezos">Jeff Bezos</a> is joining a slew of top-tier investors, including Andreessen Horowitz and Khosla Ventures, by backing companies that are building <a target="_blank" href="https://www.businessinsider.com/vcs-like-khosla-and-a16z-backing-robotics-that-use-ai-2024-7">robots capable of advanced reasoning</a> and processing visual data.Bezos joined ChatGPT creator OpenAI in backing AI robotics startup Physical Intelligence in its $400 million funding round which was announced in early November, <a target="_blank" class="" href="https://www.nytimes.com/2024/11/04/business/dealbook/physical-intelligence-robot-ai.html">The New York Times reported</a>. The startup <a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-invests-ai-robots-startup-physical-intelligence-2024-11">develops large-scale AI models</a> with the goal of bringing general-purpose AI into the physical world.An offshoot of the <a target="_blank" class="" href="https://www.businessinsider.com/ai-power-list-2024">booming AI sector</a>, these so-called "spatial intelligence" startups are developing tech that allows robots to navigate and interact with their environment more freely. These robots could take over dangerous or labor-intensive tasks in industries including logistics, <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-bring-ai-robots-to-hospital-2024-10">healthcare,</a> manufacturing, or construction.VCs see AI robotics as a way to automate fields impacted by <a target="_blank" class="" href="https://www.businessinsider.com/ai-power-list-2024">labor shortages</a> and rising costs, and startups in the space are building robots that can engage in decision-making and adapt on the fly — a big update from past machines.Traditional robotics, for example, would require multiple, individually programmed machines to complete various aspects of a task, and they would have trouble if something went wrong along the way.A spatially intelligent robot, however, could be programmed in plain language rather than in code to complete a task. The machine would then interpret the request, teach itself to complete the task and troubleshoot any issues.Physical Intelligence is at least the third spatial intelligence startup Bezos has backed this year, according to PitchBook. BI has compiled a list of each startup in the space that Bezos and his family office, Bezos Expeditions, have invested in.<h2 id="2c9b38e8-b5fa-4a05-8443-6629bc110757">Physical Intelligence</h2>Physical Intelligence is developing large-scale AI models to power robots and make them more common in everyday life. Bezos participated in the startup's $400 million funding round in November 2024, <a target="_blank" class="" href="https://www.nytimes.com/2024/11/04/business/dealbook/physical-intelligence-robot-ai.html">according to the New York Times</a>. The round values the company at $2.4 billion.<h2 id="2ba78ce7-aa8f-4717-8356-e9914923221e">Swiss-Mile</h2>Swiss-Mile is building wheeled robots that use AI to collect data and complete security, monitoring, construction, and logistics tasks. Bezos Expeditions co-led the startup's $22 million seed funding round in August 2024.<h2 id="fe799ff5-9d88-49b8-b385-e93238bec577">Figure AI</h2>Figure AI <a target="_blank" class="" href="https://www.businessinsider.com/openai-bets-big-on-humanoid-robots-with-figure-ai-2024-2">builds AI robots</a> that can take over unsafe jobs from humans. Bezos Expeditions participated in the startup's $675 million Series B funding round in February 2024.<h2 id="fb6f4c9c-800e-4ed7-b0a4-269e017b8b3d">Deep Sentinel</h2>Deep Sentinel builds home security cameras that use AI to live-analyze videos and detect threats in real time. Bezos invested in an undisclosed funding round in 2021, while Bezos Expeditions invested in its $24 million Series A funding round in 2020.<h2 id="38b4a7c3-1836-4c3c-a117-1d7c464260b1">Fathom Radiant</h2>Fathom Radiant builds computer hardware that is used in AI development. Bezos invested in a $2.27 million funding round in 2020.<h2 id="024291ea-37ec-4a63-a289-9c6cae65bac9">Rethink Robotics</h2>Rethink Robotics builds robots that use AI to take on boring, dirty, and dangerous manufacturing jobs. The startup was acquired by HAHN Group in 2020. Bezos Expeditions invested in the startup's $30 million Series E in 2017, $40 million Series D in 2015, $30 million Series C in 2012, $20 million Series B in 2010, $7 million Series A1 in 2009, and $5 million Series A in 2008.

Jeff Bezos just made his latest bet in the AI robotics space. Here are the 6 startups he's backed so far.

<ul><li>Shares of <keyword id="2109693" type="General" weightage="20" keywordseo="Radiant-Cash-Management" source="Orion">Radiant Cash Management</keyword> Services listed at ₹103 against the issue price of ₹94 per share on NSE.</li><li>The IPO was not fully subscribed as it received only 53% subscription from investors.</li><li>The market capitalisation of the company stood at ₹1,060 crore as of 9:45 am, according to BSE data.</li></ul>Shares of Radiant Cash Management made a positive debut on the stock exchanges, listing at a premium of nearly 10% at ₹103 as against the issue price of ₹94 per share on NSE. Meanwhile on BSE, shares of the company opened at 5.64% premium at ₹99.30. <a href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-services-ipo-opens-on-dec-23-price-band-at-94-99-per-share/articleshow/96373816.cms">Radiant Cash Management</a> is the first stock to be listed on exchanges in 2023. This comes as a surprise to investors as the grey market indications for the Chennai-based cash logistics player were dull at a ₹6 discount considering the IPO was not even subscribed fully. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The IPO did not receive much demand from investors amidst volatile market conditions, as it was subscribed just 0.53 times. The IPO was subscribed 1.01 times by qualified institutional buyers, 0.66 times by non-institutional investors and the portion reserved for retail investors was subscribed 0.21 times. Later, since the IPO was not fully subscribed the company reduced the total IPO size to ₹257 crore from ₹388 crore. Fresh issue by the company was cut down to ₹54 crore from ₹60 crore earlier. Besides, shares to be sold by promoters were also slashed from ₹328 crore to ₹203 crore. The company had also <a href="https://www.businessinsider.in/business/news/cash-logistics-company-radiant-cash-management-raises-116-crore-from-anchor-investors/articleshow/96445146.cms">raised ₹116 crore</a> from anchor investors ahead of the issue. After the revision in IPO size, shares of the company are allotted at ₹94, which is lower price band instead of ₹99, which was the upper limit of the price band. The market capitalisation of Radiant Cash Management currently stands at ₹1,060 crore, according to BSE data. The net proceeds from the fresh issue will be used towards funding working capital requirements, capital expenditure needs for the purchase of specially- fabricated armoured vans and other general corporate purposes. Incorporated in 2005, Radiant Cash Management Services is a cash logistics player that caters to banks, financial institutions, and organised retail and e-commerce companies in India. It provides services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touch points serving more than 5,388 locations as of July 31, 2022, it said. The company operates across five verticals – cash pick-up and delivery, network currency management (also known as cash burial in industry parlance), cash processing, cash vans/cash in transit and other value added services. Amongst the key clients of Radiant Cash Management are Axis Bank, Citibank, Deutsche Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Standard Chartered Bank, State Bank of India, HSBC and Yes Bank. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-startup-which-lends-to-the-rural-middle-class-raises-35-million-in-a-series-c-round/articleshow/96704383.cms">This startup which lends to the rural middle class raises $35 million in a Series C round</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/december-auto-sales-fall-below-expectations-even-as-tata-motors-mm-post-strong-growth/articleshow/96686550.cms">December auto sales fall below expectations even as Tata Motors, M&amp;M post strong growth</a>

Radiant Cash Management shares debut at a 10% premium after company reduces IPO size

<ul><li>Radiant is working on portable <keyword id="81855" type="General" weightage="20" keywordseo="nuclear-reactors" source="Orion">nuclear reactors</keyword> that can help provide electricity in remote communities, disaster areas and bases.</li><li>These are 1MW portable nuclear reactors that can power over 1,000 homes per unit.</li><li>Founded by ex-SpaceX engineers, Radiant recently secured funding of $1.2 million for this project.</li></ul>This California-based startup has raised funding to develop a portable nuclear reactor that can fit in a shipping container. It’s a 1 MegaWatt nuclear reactor and it can be used to power over 1,000 homes, according to a <a href="https://newatlas.com/energy/radiant-portable-advanced-nuclear/">report</a> by New Atlas. These nuclear reactors are aimed at powering houses in remote communities, disaster areas and bases. The startup ‘Radiant’ was founded by ex-SpaceX engineers who recently secured funding of $1.2 million to develop these portable nuclear reactors. Radiant’s nuclear reactors can deliver over 1 MegaWatt of electricity and they can operate for up to eight years. This makes it possible for one reactor to power over 1,000 homes. What’s different with these nuclear reactors The nuclear reactors developed by Radiant use helium instead of water for cooling. This method, according to the company “greatly reduces corrosion, boiling and contamination risks.” The particle fuel used in these reactors does not melt according to Radiant and is also said to be capable of handling higher temperatures than traditional nuclear fuels. The company is also working around ways to refuel the reactors and also efficiently transport heat out of the reactor core. How will it help The use of nuclear reactors to generate electricity can help reduce emissions produced by diesel generators. It would also decrease the need of getting trucks to transport fuel for these generators. While the need for trucks would still be there for transporting the nuclear reactors but the dependence is expected to be much lesser. Portability in itself is a big factor here as it would help electricity reach easily in remote areas. <keyword id="12340854" type="General" weightage="20" keywordseo="small-nuclear-reactors" source="Orion">Small nuclear reactors</keyword> <a href="https://www.world-nuclear.org/information-library/nuclear-fuel-cycle/nuclear-power-reactors/small-nuclear-power-reactors.aspx">Small nuclear reactors</a> are being developed by several countries including NASA who is making one the size of a garbage can. According to the World Nuclear Association, small nuclear reactors are convenient as they can be efficiently built in a controlled factory. Their small size and safety features also make it possible for them to be lent to countries with smaller grids. It can also help with easier financing as compared to larger nuclear plants. But Radiant is one of the few to work on portable nuclear reactors, and it would be joining Copenhagen-based startup Seaborg Technologies that will deploy them globally on floating barges. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-macbook-pro-and-airpods-3-launched-indian-pricing-features-and-everything-you-need-to-know/articleshow/87128713.cms" data-type="tilCustomLink">Apple MacBook Pro and AirPods 3 launched – Indian pricing, features and everything you need to know</a> <a href="https://www.businessinsider.in/tech/gadgets/news/apple-m1-pro-and-m1-max-vs-m1-macbook/articleshow/87128408.cms" data-type="tilCustomLink">Apple M1 Pro and M1 Max vs M1: Here’s what Apple improved with its new custom chips</a>

Ex-SpaceX engineers are working on portable nuclear reactors that can power over 1,000 homes

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

Giftcard Marketplace Zeek Raises $9.5M in Series B 
 
Tel-Aviv based online gift card marketplace, Zeek, has raised $9.5 million in Series B round of financing led by Scale-Up Venture Capital. The round also saw participation from Blumberg Capital, Qualcomm Ventures, FJ LABS (Fabrice Grinda), Waze founder Uri Levine, Emery Capital, Ton Ventures, Radiant Venture Capital, iAngels and Target Global. Zeek stated that the investment will further be used in growth and expansion overseas. 
 
Founded by Daniel Zelkind, Ziv Isaiah, Uri Levine, Itay Erel and Pierre Schurmann in 2013, the company works as a mobile app and website that allows users to buy gift cards and vouchers from their favourite brands at a discount and sell unwanted gift vouchers for cash, providing a solution to the estimated $100 billion of unused gift cards globally. 
 
Agritech Startup Dealing in Deep Learning Capabilities Secure $7M 
 Israeli startup <keyword id="3517788" type="UNKNOWN" weightage="20" keywordseo="Prospera">Prospera</keyword>, machine learning agritech company, has raised $7 million in series A round of funding led by Bessemer Venture Partners. The round also saw participation from Hishtil and prominent angel investors. 
 
Founded by Daniel Koppel in 2014, the company creates advanced techniques in data science and deep learning to provide farmers accurate remote agronomy and management solutions. 
 
<keyword id="36015" type="ORGANIZATION" weightage="20" keywordseo="ian">IAN</keyword> Invests in Shared Accommodation Startup Square Plums 
 
Square Plums, shared accommodation startup, gas closed $446,000 in a round led by Indian Angel Network (IAN), and VGN Prakash, Amitabh Shrivastava, Krishna Jha and Ravindra Krishnappa. As a part of contract, VGN Prakash will be joining the board of the company. 
 
Founded by Rajesh Kumar Kotta, Hemant Attray and Krishna Jha in 2015, the startup provides fully furnished houses to bachelors, and also helps users to find a roommate. It also helps owners by letting out a fully furnished house with up to 50% higher rentals without even spending on furnishing the house. 
 
Mobile Learning Platform Secures $700k of Seed Funding 
 Mobile learning platform, <keyword id="3362619" type="UNKNOWN" weightage="20" keywordseo="Byndr">Byndr</keyword>, has raised $700,000 in seed funding from a group of prominent angel investors, Education Design Studio and Ben Franklin Technology Partners. 
 
Founded by Joseph Freed, Praveen Vangeepuram and Marc Garabedian in 2015, the startup offers mobile-first communication and learning management platform for education in emerging markets, where millions of students only access the internet via their mobile device

FundUp: Agritech
Startup Prospera Raises $7M, IAN Invests in Square Plums & More

<ul><li>Divgi TorqTransfer Systems is looking to raise ₹180 crore via fresh issue, along with an offer for sale (OFS).</li><li>The company intends to use IPO proceeds towards the purchase of equipment/machinery and general corporate purposes.</li><li>The anchor investors can bid for the shares on February 28.</li></ul>Automotive component manufacturer Divgi TorqTransfer Systems is all set to open its IPO on March 1 and will close on March 3. This is the third IPO of 2023, after Radiant Cash Management Services and Sah Polymers. The company is looking to raise a fresh issue of ₹180 crore along with an offer for sale (OFS) of up to 39.34 lakh equity shares to be sold by promoters and shareholders. The company has cut the fresh issue size to ₹180 crore from ₹200 crore announced earlier, while increasing the OFS size. The price band will be released next week. The total issue size will be determined after the price band is released. Earlier, the promoters and shareholders had planned to sell around 31.46 lakh shares, which have now increased to 39.34 lakh. Shareholders selling their shares through OFS include Oman India Joint Investment Fund II that will sell up to 22.50 lakh shares, NRJN Family Trust up to 14.41 lakh shares, Bharat Bhalchandra Divgi 49,430 and Sanjay Bhalchandra Divgi 40,460. Ashish Anant Divgi will sell around 1.04 lakh shares. Arun Ramdas Jdgunji will offload 33,660 equity shares while Kishore Mangesh Kalbag will sell 15,232 shares. The company intends to use funds from fresh issues towards the purchase of equipment/machineries at its manufacturing facilities, and general corporate purposes. The anchor investors can bid for the shares on February 28. It has three manufacturing and assembly plants at Sirsi in Karnataka, and Shivare and Bhosari near Pune in Maharashtra. A new facility at Shirwal, Maharashtra is expected to be fully operational by FY24. The company has designed, developed, manufactured and supplied software embedded electronically controlled transfer cases and torque couplers for original equipment manufacturers (OEMs) like Tata Motors, Mahindra &amp; Mahindra and others. It also manufactures and supplies engineered, turnkey solutions and components to automotive OEMs across India like US, China, Korea and Russia, amongst others. It has the capability to develop and provide transmission systems for electric vehicles. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA margin </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹242 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹46 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹195 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹38 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.82% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹171 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.22% </td></tr></tbody></table>Source: RHP Divgi TorqTransfer Systems’ overseas sales are primarily dependent on two countries, China and Russia, which exposes it to risks of concentration. Both countries contribute to over 77% of its overall export revenue. “Loss of all or a substantial portion of sales to any of our customers from these two countries, for any reason (including, due to any materially adverse social, political or economic development, civil disruptions, or changes in the policies of the state government or state or local governments in these countries, occurrence of Covid-19 infection and strict curbs), could have an adverse effect on our business, results of operations, financial condition, cash flows and future business prospects,” said the company in red herring prospectus. After sanctions were imposed on Russia as it invaded Ukraine, there has been a reduction in imports from Russia. As a result, it is unable to sell products to Russian customers in the future. “There can be no assurance that we will be able to offset the loss of our Russian customers, which may adversely affect our business,” said the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/night-incense-sticks-agarbatti-startup-founder-claims-leave-the-room-fragrant-enough-to-evoke-romance/articleshow/98207109.cms">A startup manufacturing “romantic” incense sticks gets no love on Shark Tank India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indians-now-want-to-eat-out-instead-of-delivery-a-move-thats-hitting-pizza-makers-the-most/articleshow/98201441.cms">Indians now want to eat out instead of delivery – a move that’s hitting pizza makers the most</a>

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Jeff Bezos just made his latest bet in the AI robotics space. Here are the 6 startups he's backed so far.

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Ex-SpaceX engineers are working on portable nuclear reactors that can power over 1,000 homes

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