BUSINESS
Macroeconomic pressure may slowdown two-wheeler demand but EV growth will continue to soar: Tarun Mehta, CEO Ather Energy
Macroeconomic conditions may slow two-wheeler demand but EV growth will continue to soar, says Mehta, adding that Ather won't fire three bullets to get one right but spend time to perfect its products one at a time.
BUSINESS
Delhi HC grants 3 more weeks to Grovers for response to BharatPe petition
BharatPe filed civil and criminal suits against the defendants Grover, Jain and her brother Shwetank Jain, her sister’s husband Deepak Gupta, and her father Suresh Jain, in addition to a complaint filed with the Economic Offences Wing (EOW).
BUSINESS
Sequoia-backed Bounce lays off 5% of staff to cut costs
Having been severely hit by the pandemic, Bounce pivoted to making EVs, Bounce Infinity, while slowing down the bike rental operation
BUSINESS
Karnataka High Court stays 5% commission cap for Ola, Uber and Rapido autos
While the Karnataka High Court fixed a temporary rate of 10 percent over and above the ride cost, after several meetings with various stakeholders the Karnataka transport department proposed it to be set at 5 percent
BUSINESS
Layoffs are hard but we know our reality: Krish Subramanian, Chargebee Cofounder
In an interview with Moneycontrol, the Chargebee founder dismissed rumours of a down-round or strategic sale, saying the company is fully capitalised.
BUSINESS
Lending firm SarvaGram raises $35 million in series C round led by Elevar Equity
The company plans to advance its data analytics capabilities with the aim of enhancing customer experience and offerings, along with widening the customer funnel
BUSINESS
SaaS in 2023: Founders and investors spot emerging themes amid recession fears
The next year is likely to be tough for many SaaS firms. However, segments such as generative AI, PaaS offerings, and Low Code/No Code platforms, cloud security-based software may gather more steam in 2023.
BUSINESS
Ola Electric sells 1.5 lakh EV scooters in 2022, eyes expansion in export markets
In 2022 Ola Electric scaled up its premium scooter, the Ola S1, and completed the electrification of the premium scooter market (priced at more than Rs 1,00,000) in 1 year.
MCMINIS
What is a SaaS Magic Number?
BUSINESS
Budget 2023: Here's what EV ecosystem wants from FM Nirmala Sitharaman
The EV sector is looking forward to a slew of sops, including the extension of the FAME-II scheme beyond 2024, and a reduction in GST.
BUSINESS
Fintech startup Paysharp gets RBI’s in-principle approval for payment aggregator licence
In the last three months, several fintech players, including Open, Infibeam, and Cashfree, got the nod for payment aggregator licence.
BUSINESS
Delhi, Bengaluru see highest number of Uber trips in 2022: Report
The most popular product in terms of the number of trips was Uber Go, with Uber Auto coming in a very close second - showing the growing preference for App commute, for vehicles typically hailed off the roads earlier.
BUSINESS
Lending firm Money View raises $75 million in Series E funding led by Apis Partners
The firm is currently operating at an annualized disbursal run rate of $1.2 billion and is presently managing AUMs of over $800 million.
BUSINESS
Data science startup Tredence raises $175 million in funding led by Advent International
The San Jose-based company plans to use the funding to build on its growth momentum, strengthen vertical capabilities, and expand its customer base.
BUSINESS
Ola Electric to produce domestic lithium-ion cells by 2023, targets initial plant capacity of 5GW
Ola Electric will become cash positive next year, according to founder Bhavish Aggarwal, who also stated that ANI Technologies' ride-hailing business, Ola Cabs, will go public in the second half of 2023.
BUSINESS
Worldline ePayments India gets RBI’s in-principle approval for payment aggregator licence
A payment aggregator provides payment services to merchants and e-commerce sites by accepting payment instruments from customers.
BUSINESS
Wipro Consumer Care plans to invest Rs 100 crore in growing D2C startup ecosystem
Several packaged consumer goods makers have acquired D2C startups in 2022 or looking to invest. Marico, for instance, has acquired male grooming company Beardo, beauty brand JustHerbs and breakfast and snacks maker True Elements.
BUSINESS
SaaS firm Facilio plans to increase workforce in India, bets big on energy-saving segment
Facilio is opening a new 40,000-sq ft space in Chennai. The new office has a fully automated facility management system in place.
BUSINESS
Wipro Consumer Care acquires Kerala-based packaged food brand Nirapara
The segment is a Rs 70,000-crore market and only 12 percent is covered by the organised sector, says Anil Chugh, who is the appointed president of the Food Business at Wipro Consumer Care.
BUSINESS
Razorpay pauses onboarding of online payment merchants after RBI advisory
Razorpay expects to resume onboarding after a few weeks
BUSINESS
SaaS major Freshworks lays off around 90 employees amid macroeconomic pressures
Freshworks joins the list of global and Indian SaaS firms like Salesforce, Zendesk and Chargebee that have recently announced layoffs.
BUSINESS
G-20 Summit 2023: Maceoeconomic impacts of RBI’s CBDC and its use cases is priority, will be discussed in the coming days
The G-20 Finance and Central Bank Deputies Meeting, under the Indian Presidency, was held in Bengaluru, Karnataka, during December 13-14, 2022, under the co-chairship of Secretary, Economic Affairs, Ajay Seth and Deputy Governor, Reserve Bank of India, Michael Patra.
BUSINESS
Global edtech market is poised to touch $300 billion by 2029: Report
Amid the slowdown in the Indian market, many edtech players expanded abroad and acquired paying customers in North America, SEA, and Middleeast.
BUSINESS
Bengaluru residents and auto drivers bear brunt of commission and licence issues of Ola, Uber and Rapido
Multiple auto drivers said that they have quit Ola, Uber and Rapido and are looking for alternatives.
