Simple Energy Secures USD 20 Million to Supercharge E-Scooter Production and Transform EV Market
Electric vehicle start-up Simple Energy raised USD 20 million in Series A funding. They will use these funds to boost production of its e-scooters, expand into new markets and develop new products. Simple Energy aims to redefine the EV landscape in India and beyond.
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Dharana Capital Invests USD 50 Million in Urban Company: This Marks Largest ESOP Sale in History
Dharana Capital invested USD 50 million in Urban Company. This marks the largest ESOP sale in UC's history. Urban Company was last valued at USD 2.1 billion. It reported recent profitability and plans an IPO next year.
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Zerodha’s Zero Brokerage Model Faces Uncertainty, Says Kamath: SEBI’s New Rule
On July 2, 2024, Zerodha's CEO Nithin Kamath announces potential end to zero brokerage investing. This is due to SEBI's new uniform charge rule. Brokers must adjust pricing strategies.
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OLA Quits Google Maps Services, Saves INR 100 Crore with In-House Tech: Creates Map for the Future
Ola Cabs has switched from Google Maps to its in-house Ola Maps. By this they are saving approximately INR 100 crore annually. This new map includes new features like street view and 3D maps. They have also featured their transition to Krutrim AI. By this, they are enhancing their mapping and AI services.
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Zomato Rehires Rahul Ganjoo & Pradyot Ghate: Transforming the Dining, Lifestyle and Entertainment Business
Zomato rehired former executives Rahul Ganjoo and Pradyot Ghate to innovate its Going-Out business. With plans to acquire Paytm's movie ticketing arm, Zomato aims to diversify and grow beyond food delivery. They are now focusing on dining, lifestyle and entertainment.
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Indian Social Media App Koo Shuts Down: The Indian Bird Flies Away Amid Funding Challenges and Merger Failures
Koo which is an Indian social media app and rival to X (formerly Twitter) is shutting down. This is due to failed merger talks and funding challenges. Founders Aprameya Radhakrishna and Mayank Bidawatka expressed their gratitude. They talked about Koo's achievements and future aspirations.
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Deepika Padukone’s 82°E Raises INR 50 Crore for Expansion
Deepika Padukone's personal care brand, 82°E, is all set to raise INR 50 crore (around USD 6 million). They aim to expand their market presence. This funding will increase the stakes of Deepika and her father, Prakash Padukone.
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France Accelerating Startup funding, Plans to revive European Capital Market union
France wants to integrate the fragmented EU markets to boost the venture capital market in the EU. This and other important points were discussed at the VivaTech Fair for startup held in Paris last week
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Indian Cricketer Shreyas Iyer Joins Healthtech Platform Curelo as Investor
Before this round, Curelo had raised USD 100K from IIMA Ventures. The startup boasts of significant revenue growth, with revenues seeing an increase of over 25 times in the last year
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