BUSINESS
Ola Electric to sell S1 scooters in Nepal, signs MoU
Ola Electric had launched the Ola S1, its second electric two-wheeler, last month, and said that the company will launch electric cars by 2024. Ola Electric plans to enter Latin America (LATAM), the ASEAN and the EU markets next.
BUSINESS
Farm-to-consumer brand Deep Rooted raises $12.5 million led by IvyCap Ventures
Deep Rooted provides urban consumers access to quality fruits and vegetables sourced directly from farmers. The firm currently operates in Bengaluru, Hyderabad, and Chennai offering over 200 varieties of fruits and vegetables
BUSINESS
Zetwerk's revenue up 6 times to Rs 4,961 crore, operating loss at Rs 42 crore in FY22
The B2B manufacturing service marketplace's revenue grew to Rs 4,961 crore in FY22 from Rs 835 crore in the previous year. If the non-cash ESOP expenses were to be omitted, Zetwerk would report an Ebitda profit of Rs 57 crore, it said
BUSINESS
D2C brand Join Ventures bags $23.5 million funding from Motilal Oswal
Two-year-old Join Ventures plans to use the funds to enhance technology and expand its captive dark stores' network. This is the second round raised by the startup this year after a $10 million Series-A round in February
MCMINIS
What is Embedded Insurance?
BUSINESS
Insurtech SaaS firm Zopper raises $75 million in series C funding led by Creaegis
The funding comes after almost eight years from its last round from Tiger Global in 2015 where it raised around $20 million. In fact, in 2018, payments company PhonePe bought the point-of-sale (PoS) business of Zopper, which then shifted its focus to Insurance SaaS development.
BUSINESS
Tiger Global-backed Urban Company sees losses widen to Rs 514.14 crore in FY22
While most of the home repair and maintenance services were allowed to operate, beauty services had to be shut down in several parts of the country, which impacted business activity in Q1 FY22, the company said
BUSINESS
EXCLUSIVE | Ola Electric rejigs roles to unify operations across roles; YS Kim gets larger role
Industry veteran YS Kim will now take on an expanded role of leading sales, D2C and charging network charter for Ola Electric; Vinay Bhopatkar moves on from the company
BUSINESS
What's fuelling India's growing EV finance sector?
Industry body data shows that in the last year, the number of EV finance players have grown from four to 13. And overall disbursements have grown 50% to Rs 1,000 crore with investments of Rs 1,000-2,000 crore including debt and equity.
BUSINESS
Gurugram-based Peer Robotics raises $2.3 million led by Kalaari Capital
The firm plans to use the finds for human-robot interaction R&D as well as market expansion in small and medium-scale manufacturing around the world
BUSINESS
Yulu bags $82 million in series B funding led by Magna
Yulu plans to use the money for product and technology innovation and also increase its fleet to more than one lakh two-wheelers along with 500 and more battery charging and swapping stations over the next 12 months
BUSINESS
Cab aggregators need to set transparent policy on surge price revenue sharing: CCI
On description and calculation of fares, CCI has recommended that companies publish the break-up of total fare so as to appropriately reflect the surge component in the invoice generated on the App and sent to the riders and drivers.
BUSINESS
SaaS firm Kovai.co appoints Andrew Cloke as new COO
Kovai. co is a Coimbatore and London-based SaaS firm that offers enterprise software products for the Microsoft ecosystem. It counts ABB, Biocartis, Vodafone, Whatfix, and Toyota among its clients.
BUSINESS
Bengaluru floods: Residents may have to cough up crores to fix drowned homes, cars
With the ground floor submerged, it will take about three months for the homes to be fixed, while many of the cars may have to be written off for good.
BUSINESS
SaaS firm Netradyne bags $65 million in debt financing from SVB
The firm plans to utilise the funding to help scale up Netradyne’s business momentum, further development of its industry-leading product suite, and global corporate expansion.
MCMINIS
What’s causing floods in Bengaluru?
BUSINESS
Investments in EV cell manufacturing to reach Rs 70,000 crore by 2030: ICRA
The ability of battery manufacturers to enter into agreements/alliances with players across the value chain to mitigate these risks, coupled with the creation of a robust framework for recycling would remain key.
BUSINESS
MC Exclusive | A new SaaS war: Accel-backed BrowserStack Vs Sequoia-backed LambdaTest face off
In the heat and dust of competition, LambdaTest faces charges of trying to gain unethical access to BrowserStack’s IPR and sensitive client data
BUSINESS
Freshworks appoints Dennis Woodside as new president for heading global operations
Woodside’s role will specifically focus on executing the global strategies of Freshworks and making sure that the company’s GTM is aligned, Mathrubootham said.
BUSINESS
Kula raises $12 million in seed funding led by Sequoia, Square Peg
The firm plans to utilise the funds towards expansion of Reasearch and Developement, product and go-to market teams across the three offices in US, Singapore, and India.
BUSINESS
MC Explains | What is JioAirFiber and how does it work?
Jio demonstrated one of AirFiber’s capabilities, where users will be able to watch a live IPL match with multiple camera angles in ultra HD at the same time. Users can also dynamically switch between the camera angles.
BUSINESS
SaaS Unicorn LeadSquared eyes IPO in next three years
“We are on the path of building a $200 million company in the next three-four years and there will be I think two-three more rounds of fundraising…when we have the line of sight for $200 million we will think about an IPO as well,” said cofounder and chief operating officer Prashant Singh
BUSINESS
Privado raises $14 million in round led by Insight Partners and Sequoia Capital India
The startup plans to utilise the funding to enhance and develop Privado’s technology stack, build out the team and grow its open-source community.
BUSINESS
Meet the 15 startups that are part of Sequoia Surge’s seventh cohort
Nearly half of the companies were pre-launch when Surge partnered with them.
