TECHNOLOGY
Freshworks reports 20% revenue growth to $174 million in Q2CY24
The firm’s Free Cash Flow (FCF) was $32.8 million in Q2 of 2024 which has gone up by around 81% YoY compared to $18.1 million in the second quarter of 2023.
TECHNOLOGY
IPO-bound Ola Electric's cost of imports from China jumped to 37% in FY24
The company’s total cost of materials consumed was around Rs 4,390 crore, of which, imports from China amounted to Rs 1,624 crore
BUSINESS
Dunzo co-founder Mukund Jha in talks to raise Rs 80 cr for his Gen AI startup
Jha, who was with Dunzo from 2015 until 2023, has previously worked with Google in New York, where he tried starting up two of his own companies.
TECHNOLOGY
Meet Hyun Shik Park, the battery boss who has the fattest paycheque in Ola Electric universe
After being an LG lifer for almost four decades, the battery manufacturing expert joined Ola last year to helm its cell production operations in its Gigafactory
TECHNOLOGY
Ola Electric IPO: Top 10 metrics to watch out for
Ola Electric's IPO, the first such offer from an Indian electric two-wheeler manufacturer, will open for subscription on August 2 and close on August 6
BUSINESS
Ola Electric IPO: Vijay Shekhar Sharma, Zoya and Farhan Akhtar are holding onto their 26% gains
Paytm founder and the Bollywood duo invested in Ola Electric’s Series C round in December 2021. The benchmark Nifty has risen 48 percent since then
TECHNOLOGY
Ola Electric's revenue hits Rs 5,000 crore, losses widen by 8% in FY24
Ola Electric's losses were recorded at Rs 1,584 crores in FY24.
TECHNOLOGY
BigBasket forays into enterprise SaaS business with supply-chain management platform
The firm is piloting its software solution with several players across ecommerce, omni-channel commerce and other customers
TECHNOLOGY
VC industry veterans launch Rs 810-cr deeptech-focused fund 'Yali Capital'
The fund is Sebi-approved category 2 AIF and aims to invest in areas such as chip design, robotics, genomics, smart manufacturing, aerospace and AI
TECHNOLOGY
Bengaluru drivers turn to Telegram, WhatsApp and zero-commission apps to beat Ola-Uber duopoly
While cab drivers primarily use Telegram and WhatsApp groups, auto unions are relying on their apps as an alternative to Ola and Uber, which dominate the app-based cab and autorickshaw segments in the tech capital.
TECHNOLOGY
SEBI's uniform charge structure: Top discount brokers might see up to 20% decline in FY25 topline
Sebi’s true-to-label fee structure for brokers makes the playing field even for smaller players or startups that are launching broking services now as scale in itself will not add to the meaty topline of larger companies like Zerodha, Groww and Angel One
BUSINESS
Discount brokers' topline might be hit badly if Sebi restricts F&O trading
While the number of F&O traders is between 10-20 percent of the overall active client base, they generate between 60-70 percent of the revenue for most of the large brokers.
BUSINESS
'Will have Ola cells in our scooters by early next year,' says founder Bhavish Aggarwal
While Sebi has greenlighted Ola Electric's DRHP, Aggarwal was non-committal on the timeline, adding that they are going through more steps.
TECHNOLOGY
'Have no policies like Foxconn': Ola founder Bhavish Aggarwal on hiring married women
Bhavish Aggarwal, founder and managing director of Ola said that the firm will continue to employ women workforce for its new facilities and said that the firm does not have any policy to not hire married women.
TECHNOLOGY
Ola to enter grocery delivery via ONDC, captures 30% of food orders on network
Sources also said that the ride-hailing app has already become the second biggest buyer side platform after Magicpin in the food category.
TECHNOLOGY
Public sector customers fuel SaaS market expansion amid macroeconomic slowdown
Governments are increasingly turning to SaaS providers for a range of solutions, including communication and feedback tools, efficiency and productivity applications, operations and administration management software, and municipal service management products
TECHNOLOGY
Rocketlane raises $24 million funding led by 8VC, Matrix Partners India and Nexus Venture Partners
The firm has said that it tripled its revenue over the past year, reaching over 500 customers in 2023.
TECHNOLOGY
Everstage to raise $30 million at $150-million valuation
While the round is likely being led by a new investor, Eight Roads Ventures, existing backers like 3one4 Capital and Elevation Capital will also participate, sources told Moneycontrol.
TECHNOLOGY
OrbitShift raises $7 million in seed funding led by Peak XV’s Surge and Stellaris Venture Partners
OrbitShift plans to utilize the funding to expand its customer base and continue building newer AI based products for the sales ecosystem.
TECHNOLOGY
Indian startups ride on rising demand for voice-based conversational AI use cases
Startups like Velocity, a revenue-based financing platform, are moving beyond its core business of lending to launch a conversational AI product specifically made for banks and NBFCs.
TECHNOLOGY
For Freshworks to scale and become a global company, things will have to change: CEO Dennis Woodside
Woodside, who took over the reins as CEO from founder Girish Mathrubootham a few weeks ago, said he is used to working in founder-driven companies. He said preserving company culture is one of his top priorities
TECHNOLOGY
Ethereal Machines raises $13 million led by Peak XV Partners, Steadview Capital
The firm plans to use the funds to set a smart factory adjacent to the upcoming Foxconn facility in Karnataka and to hire software and AI engineers
TECHNOLOGY
Groww's active user base crosses 1 crore milestone in May
Rival Zerodha has 75 lakh active users, Angel One 64.86 lakh and Upstox 25.91 lakh
TECHNOLOGY
Ola Electric gets Sebi approval for Rs 7,250-crore IPO
Ola Electric filed its draft red herring prospectus (DRHP) with the markets regulator on December 22.
