BUSINESS
ProcMart raises $30 million led by Nandan Nilekani's Fundamentum and Edelweiss Discovery Fund
The firm will utilise the funding towards geographical expansion, venturing into manufacturing of biofuels, entering the packaging segment as well as to strengthen its existing technology
TECHNOLOGY
Ola Electric cuts prices of S1X scooters range to take on Ather's Rizta
The announcement comes a few weeks after Ather launched its first family scooter Rizta at a starting price of Rs 1,09,999. In February, the company launched its S1X EV range, marking the company’s entry into the mass market segment
TECHNOLOGY
Ola, Uber and Rapido remove in-app wallet payments for auto-rickshaws to retain drivers, cut costs
The direct-payment model was first rolled out by Namma Yatri in Bengaluru in November of 2022. Now, other ride-hailing firms such as Ola, Uber, and Rapido want to tap into this to avoid paying GST on services.
TECHNOLOGY
Namma Yatri pilots taxi-hailing service in Bengaluru
While the official launch is expected next week, some of the riders Moneycontrol spoke to say they were able to book cabs on Namma Yatri for rides within Bengaluru
TECHNOLOGY
IIT Bombay Prof's startup Sedemac Mechatronics in talks to raise $100 million from A91, Xponentia, 360 ONE Asset
The startup is talking to A91 partners, Xponentia Capital Partners and 360 ONE Asset. The round is likely to close at a valuation of $250 million
TECHNOLOGY
SaaS platform Sprinto raises $20 million in Series B round led by Accel
The firm will use the funds for R&D, focusing on intelligent automation and AI as well as to expand into new markets
TECHNOLOGY
Ather delayed capacity creation in 2023 due to market slowdown, says CEO Tarun Mehta
The market has bounced back since the previous quarter and the firm will re-evaluate plans for new capacity creation this year, says Mehta
TECHNOLOGY
Livspace in talks to raise $25 million from existing investor KKR
Livspace, which raised $180 million in February 2022 from KKR and other investors, was last valued at $1.2 billion. The company has however denied such talks.
BUSINESS
IPO-bound Ather Energy launches its first family scooter 'Rizta,' priced Rs 1,09,999 onwards
The EV maker has also launched its first 'smart helmets,' that feature a slew of technology like music, voice-call enablement, wireless charging, and more.
BUSINESS
ICE is 'dead technology', Indian two-wheeler makers should grab global EV market: G20 sherpa Amitabh Kant
Ather Community Day 2024: Kant said institutions such as IITs and IIITs should work towards making skilled manpower for the EV industry.
BUSINESS
Accel-backed BrowserStack dragged to court by US-based rival Deque Systems
According to Deque Systems' complaint, BrowserStack entered the accessibility testing market in 2023 with a replica of Deque's proprietary accessibility testing product.
TECHNOLOGY
SingleInterface bags $30 million from Asia Partners, PayPal Ventures
The startup was founded in 2015 by Tarun Sobhani and Harish Bahl, the founder of Smile Group
TECHNOLOGY
Freshworks' VP and India head Karthik Rajaram quits, joins Elastic India
Just a month ago, Freshworks' chief revenue officer Pradeep Rathinam resigned from the firm he had joined in 2020
TECHNOLOGY
Namma Yatri mends partnership with Bengaluru autorickshaw drivers union
The move comes four months after Bengaluru’s Autorickshaw Drivers Union parted ways with the mobility app Namma Yatri over internal differences.
TECHNOLOGY
SoftBank-backed JusPay hives off Namma Yatri, registers it as 'Moving Tech Innovations Limited'
This move will benefit Namma Yatri in raising funds from venture capital investors to develop infrastructure and technology. It will also ease the difficulties involved in running different businesses simultaneously
TECHNOLOGY
Alteria Capital announces final close of fund III venture debt scheme at $195 million
Alteria has also launched a new 'shorter duration scheme', which is open for subscription and will likely take the total size of Fund III to $250-$300 million by the end of 2024
TECHNOLOGY
Bengaluru-based EV ride-hailing startup Shoffr raises $1 million from its users
The startup will use the funds to expand the team, grow sustainably and bring the Shoffr experience to more people, co-founder Vikas Bardia has said
TECHNOLOGY
Gen AI-related revenue for SaaS and IT firms to touch $1.3 trillion by 2033: Report
The report by Upekkha and WestBridge Capital has also estimated that out of the total $1.3 trillion of revenue, Indian SaaS firms will generate around 5-10% of revenue
TECHNOLOGY
Binny Bansal invests an additional Rs 200 crore in Curefoods taking the round size to Rs 500 crore
The firm will likely use the funds for offline expansion of its brands Nomad Pizza and Sharief Bhai Biryani.
BUSINESS
Ola Money to shift to limited KYC wallet from April 1
The move comes at a time when the banking regulator RBI has been cracking down on fintechs for KYC non-compliance
TECHNOLOGY
Top ride-hailing firms experiment with subscription models to retain drivers and tackle competition
After Namma Yatri launched a subscription model for drivers to sustain its no-commission strategy, Ola, Uber, and Rapido have also begun testing similar features.
TECHNOLOGY
Tiger Global-backed fintech Jar to enter P2P lending business with Jar Plus
Jar Plus, the firm’s P2P lending product is currently in the testing phase and is in partnership with NBFC LendDenClub.
TECHNOLOGY
Freshworks' Girish Mathrubootham calls AI 'Monster Wave', similar to web browser era
Mathrubootham urged startups to integrate and upgrade their products with AI to stay relevant.
TECHNOLOGY
Sarvam AI to unveil its 1st commercial voice-to-voice endpoint tool with 10 Indian languages in next 6-12 months
Startups and businesses that are looking to build or use voice experiences as part of their services can tap into this tool, especially in Indian languages.
