Ride hailing companies have been facing severe revenue losses due to the lockdowns imposed by the central government for the containment of the coronavirus. The recent extension of the lockdown, however, brought some relief for these companies. After almost 50 days of suspension of services, companies like Ola and Uber are back in business as…
US-based investment firm Falcon Edge Capital has raised $300mn India-focused venture capital fund Alpha Wave Incubation (AWI). The fund is anchored by investors from UAE and an undisclosed entity of the Government of Abu Dhabi. According to a report by The Economic Times, AWI is in the final stages of closing the corpus and is…
SoftBank, a name we all are familiar with in the startup ecosystem. From setting up the world’s biggest investment fund “The SoftBank Vision Fund” to aggressively investing in tons of startups, SoftBank has established itself as a mark in the startup economy. But all is not going well with the brand. For the past few…
Ola, the leading ride-hailing company, has appointed Sanjiv Saddy as senior vice president, Corporate Affairs. Prior to this, he was working with Flipkart, leading its government relations and corporate affairs mandate. He has also worked with Tata Communications, Emaar MGF Land Ltd and Travels Ltd, among other companies. In an email to the Ola employees,…
Zoomcar, a self-drive car rental platform, raised $30 million in a fresh funding led by Sony Innovation Fund, the venture arm of Japanese electronics giant Sony. The funding is a part of Series D funding round, in which existing investors took part in the investment. Zoomcar will utilise the funds for further expansion of its…
The Unicorn Club is a group of new-age start-ups with a valuation above a billion-dollar. Any new start-up that emerges in the ecosystem aspires that one day it will reach this exclusive club. But not everybody is welcome. The term was first coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to…
Ola Foods, a food business division of the primarily ride-hailing focused company, has appointed Senior FMCG executive Rajeev Bakshi. Currently, Rajeev is an advisor on Strategy and Marketing, apart from serving on the board of a few companies.
Cab aggregator Ola is in the process of laying off some of its employees to cut down losses. The layoffs include senior managers as well as mid-level employees. As per a report in Entrackr, the company is in the process of laying off 20 percent of its employees. The layoffs are part of the company’s measures…
Ola, an Indian transportation network company offering services that include peer-to-peer ridesharing, ride service hailing, taxi and food delivery, is in advanced talks with tech giant Microsoft to raise about USD 150-200 million in funding. As per sources, the deal is likely to be closed in the next couple of weeks. Ola is presently backed…
India’s leading ride-hailing company Ola has decided to invest an additional $100 million in scooter-sharing startup Vogo, this new funding will help the firm to expand its current fleet. The scooter-sharing startup started its service eight months ago with 2000 scooters in Bengaluru and Hyderabad, now with this new funding, the firm can acquire 100K new scooters that…
Ola-owned food ordering and food delivery firm Foodpanda has acquired Mumbai-based cloud kitchen venture Holachef for an undisclosed amount. As a part of the acquisition, Foodpanda will take over Holachef’s employees and kitchens. Saurabh Saxena and Anil Gelra the founders of Holachef will be joining the leadership team of Foodpanda. With this deal, Foodpanda will be stepping…