The Karnataka transport department is reportedly registering cases against Porter and its drivers for alleged breach of regulations by the logistics startup.

C. Mallikarjun, Karnataka’s Additional Commissioner for Transport (Enforcement-South), told Moneycontrol that Porter is operating without the required goods carriage permit from the department and also displaying advertisements on its vehicles without proper authorisation.

Mallikarjun said the transport department has begun filing cases against both Porter and the drivers working on its platform.

Over the past week, the transport department has booked more than 100 cases against Porter drivers in Bengaluru. “I’ve also instructed the Regional Transport Officer (RTO), Central (HSR Layout) to issue a notice to Porter since it falls under their jurisdiction,” Mallikarjun said.

The authorities are taking action against drivers who display the company’s advertisements on their vehicles. These drivers are being fined INR 5,000 each.

Additionally, he mentioned that Porter can apply for the required permit from the department to operate within the city. The decision to take action followed complaints from drivers, the official further stated.

Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter claims to provide distance-based allocation, GPS tracking, proactive notifications, and more, to empower its driver partners.

In its FY22 filings, the startup said it launched operations in new cities, including Lucknow, Jaipur, Indore, Coimbatore, Chandigarh, and Nagpur, during the year, adding to Bengaluru and Delhi NCR, where it already had presence.

Porter’s fleet can be divided into two main groups: vehicles with permission and advertisements displayed, constituting approximately 20-25% of its fleet, and those without any advertisements, accounting for around 75-80%. Within the first category, a small number of vehicles are running advertisements without licences, as per the report.

Porter is reportedly in the process of securing valid licences for all vehicles falling within the first category. However, it may consider discontinuing advertising on vehicles operating in Karnataka altogether if it encounters legal challenges, as per the report.

Earlier this year, Porter restructured its leadership team, with cofounder Uttam Digga taking the role of CEO. Previously, Digga held the position of chief operating officer, a role which the startup decided to dissolve.

Porter posted a loss of INR 122 Cr in the financial year 2021-22 (FY22), owing to Covid-19 and the lockdowns. Its operating revenue jumped 2.6X to INR 847.7 Cr in FY22 from INR 322.2 Cr in FY21.

The post Logistics Startup Porter In K’taka Transport Dept’s Crosshairs For Violating Rules appeared first on Inc42 Media.

Ride-hailing giant Uber has appointed former investment banker Arnab Kumar as the director of business development for India and South Asia. 

Kumar has over 17 years of experience in the technology and financial services industries. Prior to this, he was associated with Coinbase as the director for India market expansion. Before that he worked as a program director at government think tank NITI Aayog. Kumar also worked for Deutsche Bank as an investment banker in Singapore and New York. 

He pursued a post graduate program in management, finance, strategy & leadership from the Indian School of Business and holds a bachelor’s degree in information technology from the Birla Institute of Technology.

Commenting on the appointment, Uber India and South Asia president Prabhjeet Singh said, “During his work at NITI Aayog, he delivered impact and change at scale. Under his leadership, our business development team will continue to be a key accelerant for our partnerships and new growth opportunities.”

Kumar said, “India and South Asia present tremendous growth potential and I look forward to joining forces with the incredibly talented team at Uber and supporting the company’s growth ambitions in this important region.”

Uber is available across 125 cities in India. Customers can book a ride on its app on two-, three- and four-wheelers for their intracity and intercity travel needs. The company competes with the likes of Ola Cabs, Rapido, and BluSmart.

Earlier this week, Uber launched a group ride feature in India which allows users to share the ride with three other people while travelling to the same destination. 

Earlier this year, the fleet operator also said that it will procure 25,000 electric vehicles from Tata Motors to introduce premium category service. 

Uber India reported a net loss of INR 216 Cr in FY22, down 35% from INR 333.9 Cr in FY21. Further, its operating revenue increased by 4% year-on-year (YoY) to INR 396.95 Cr.

The post Uber Appoints Arnab Kumar As Director of Business Development For India, South Asia appeared first on Inc42 Media.

Ride-hailing major Uber has rolled out a new feature, ‘Group Rides’, in India that allows users to share trips with up to three other people while travelling to a common destination.

With this new feature, users can start a group ride by extending invitations to their friends through messaging apps. The passengers would have the option to add their own pickup locations once they join the trip, and those locations will be automatically updated in the ride route, Uber India said in a statement.

The new feature will help users save up to 30% on their fares without negatively impacting the driver’s earnings, the company claimed. 

“With Group Rides we are offering customers the option to save more while they are riding with people they know. Not only do riders save money and arrive at the common destination together but they also do the good deed of reducing vehicles on the road… ,“ said Nitish Bhushan, director of central operations at Uber India.

The new feature is similar to Uber Pool service, which was suspended during the Covid-19 pandemic. Ola also offers a similar service under the name Ola Share.

In the statement, Uber added that the company intends to reduce traffic on the roads with this feature and minimise the dependency on individual vehicles while carpooling with friends, coworkers, or family members. 

The development comes at a time when the Indian government as well as companies and startups are working on reducing their carbon emissions and aiming for sustainable growth.

Earlier this year, Uber India introduced 25,000 electric vehicles (EVs) in the premium category service on its platform in partnership with Tata Motors.

Uber’s archrival Ola is also looking to strengthen its premium electric vehicle (EV) segment and promote sustainable transportation by deploying a fleet of 10,000 EVs. 

Uber India’s net loss declined 35% to INR 216 Cr in FY22 from INR 333.9 Cr in FY21. Revenue from operations rose 4% year-on-year (YoY) to INR 396.95 Cr in FY22.

The post Uber Rolls Out ‘Group Rides’ Feature In India To Offer Cost-Efficient Travel Options appeared first on Inc42 Media.

Ride-hailing giant Uber is once again in the news for the wrong reasons as one of its cab drivers has been accused of assaulting a woman in Bengaluru for getting into the wrong cab by mistake. 

The incident took place in a housing society in the Bhoganahalli area under the Bellandur police station’s jurisdiction.

The shocking incident was brought to the notice of the cab aggregator by the woman’s husband Ajay Agrawal on X (formerly Twitter). In his post, Agrawal said that his wife and son had booked an Uber cab for a visit to a hospital with a pickup location. 

However, they boarded a wrong cab, following which its driver came out of the car and physically assaulted the woman. Following this, the neighbours rushed to help the woman and his son and caught hold of the driver. The incident was also captured on a security camera. 

Expressing his grievances on the matter, Agrawal said, “Uber, with the latest tech and you are stated to focus on security we could not reach you.”

In response to the tweet, Uber apologised to Agrawal and assured that necessary actions would be taken against the accused driver. 

Inc42 has reached out to Uber for a comment on the development. The story will be edited on receiving a response from the company.

On Thursday (August 10), the police said that the accused driver was identified as a resident of the Gadag district of the state and was arrested. 

This is not the first time when Uber, which was earlier involved in tussle with multiple state governments like Maharashtra and Karnataka over licence, finds itself involved in such a controversy.

Earlier this year, an Uber autorickshaw driver was arrested after he allegedly tried to molest an IT professional in Pune. Before that, a female passenger accused Uber of not responding to her distress calls when she was allegedly attacked by robbers in Delhi.

Besides Uber, other cab, auto and motorbike aggregators have also been accused of not caring about the safety of their customers.

In July, a woman accused a driver of bike service aggregator Rapido of sexual harassment. 

In April this year, another woman also accused a Rapido driver of harassment and molestation. The incident took place minutes away from Rapido’s headquarters in the city. It was captured on a security camera and the woman was seen jumping off a moving bike.  

The post Uber Driver Accused Of Assaulting Woman In Bengaluru For Onboarding Wrong Cab appeared first on Inc42 Media.

Tiger Global-backed logistics startup, Porter, has restructured its leadership team, with cofounder Uttam Digga assuming the role of CEO. Previously, Digga held the position of chief operating officer, a role which the startup has decided to dissolve.

As part of the rejig, current CEO Pranav Goel has transitioned to the role of executive vice chairman.

The startup’s chief technology officer Shruti Ranjan Satapathy has also got additional responsibilities as its chief product and technology officer.

“We now embark on a new chapter of exponential growth and expansion and there could be no better time than now to make some strategic leadership role realignments,” Goel said.

He further added that in the new role, he will be assisting Diga and the other leadership team members to drive financial metrics and shape the startup’s strategy.

Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter has been one of the crucial names in the logistics sector with its on-demand marketplace for trucks, bikes and Packers and Movers. The startup is backed by the likes of Tiger Global, Peak XV Partners, and the Mahindra Group.

Porter posted a loss of INR 122 Cr in the financial year 2021-22 (FY22), owing to Covid-19 and the lockdown. Porter’s operating revenue jumped 2.6X to INR 847.7 Cr in FY22 from INR 322.2 Cr in FY21.

In its FY22 filings, the startup said that it launched operations in new cities, including Lucknow, Jaipur, Indore, Coimbatore, Chandigarh, and Nagpur, during the year to add to Bengaluru and Delhi NCR, where it already had a presence.

Earlier in January, the startup liquidated ESOPs with a total value of INR 50 Cr for its current and former employees. Though the startup did not clarify how many employees are eligible under the scheme, it mentioned that the ESOP holders will be able to sell their options at 50% more than the last liquidation valuation.

Last year, Bengaluru-based COGOS Technologies acquired Porter’s FMCG modern trade business for an undisclosed amount. As a result, the subsidiary’s workforce, customer base, and vendors moved to COGOS.

The post Tiger Backed Porter Restructures Leadership Team, Names Uttam Digga As CEO appeared first on Inc42 Media.

In another shocking incident, a Bengaluru woman has accused a Rapido driver of sexual harassment mid-way during the ride.

Ironically, the incident took place when the victim Athira Purushothaman was returning home after protesting against Manipur violence in the city’s Town Hall area. 

Speaking about her ordeal, Purushothaman alleged that the driver engaged in ‘inappropriate behaviour’ while driving through a remote stretch when no vehicles were around. She speke about the incident in a Twitter thread tagging the ride-hailing startup. 

“During the journey, we reached a remote area with no other vehicles around. Shockingly, the driver began riding with one hand and engaging in inappropriate behavior (Masturbating while riding the bike). Fearing for my safety, I remained silent throughout the ordeal,” she tweeted. 

Purushothaman also raised concerns over steps taken by Rapido to ensure background verification of the drivers, urging the platform to ensure that user safety is a top priority. 

Meanwhile, Bengaluru Police has taken cognisance of the matter, and has directed its personnel to take necessary action in the matter. 

On the other hand, Rapido is yet to issue any statement on the matter. Inc42 has reached out to the company for a comment, and this story will be updated with a statement when it is received. 

The victim also raised a slew of other issues with the bike-hailing platform. She alleged that the accused driver, in question, arrived on a different bike than what was shown on the app. 

“Surprisingly, the driver arrived on a different bike, explaining that the one registered with @rapidobikeapp  was under servicing. I confirmed my booking through his app and proceeded with the ride,” added Purushothaman.

Fearing for her safety, the alleged victim is said to have asked the driver to drop her 200 metres away from her actual destination to conceal her home address. Even after the incident took place, the driver, as per Purushothaman, kept calling and messaging her on WhatsApp. 

“I had to block his number to stop the harassment… @rapidobikeapp, what measures are you taking for background verification? Your users’ safety should be a top priority. Please ensure that people registered with your service can be trusted for a safe travel experience. He keeps calling me from different numbers even now!,” she tweeted.

She also shared a screenshot of the conversation where the driver can be seen messaging the victim with inappropriate messages such as ‘Love you.’

A Shoddy Record

Meanwhile, the incident has once again shone the spotlight on a rising number of similar cases involving Rapido drivers. Just three months back in April, a woman jumped off a moving bike to avoid a molestation attempt in Bengaluru. The case also involved a Rapido driver.

In November 2022, a 22-year old woman from Kerala was raped in Bengaluru by two persons, including a Rapido driver. The driver was then delisted from the platform, but it later emerged that the accused already had a criminal case against him in the past. 

While Rapido claims to have a ‘zero tolerance policy’ towards violence or indecent behaviour, critics have flagged the accessibility of Rapido customer care post the completion of the ride, which is when most victims come forward. 

Not just Rapido, other ride-hailing platforms have also been in dock for similar cases. In June, an Uber autorickshaw driver was arrested after he tried to molested and attempted to rape an IT professional in Pune. In March, a woman was allegedly molested by an Ola bike driver in Hyderabad.

The case has once again raised eyebrows over the norms in place at these ride-hailing companies for the background verification of its drivers. It also raised questions over the safety of women passengers during journeys undertaken via such platforms.

With the ride-hailing space expected to grow further in coming years, it remains to be seen whether these ride-hailing app crack the whip on erring drivers and institute strict norms to curb such instances. 

The post Bengaluru Woman Accuses Rapido Driver Of Sexual Harassment appeared first on Inc42 Media.

Global warming is one of the biggest challenges affecting the planet, with countries looking at finding solutions to the problem. Not only governments but companies and startups will also have to play a major role in tackling this issue. The Indian startups will have a key role in this as the country has the third largest number of startups in the world after the US and China.

As vehicular pollution is among the major causes of global warming, clean mobility will play a big role in tackling the issue. Many Indian electric vehicle (EV) startups such as Ather Energy, Altigreen, BOLT, and Baaz Bikes are now sustainable solutions. The Indian EV market houses various small as well as large EV startups and is estimated to reach $15,397 Bn by 2027.

Indian EV startups offer services such as sustainable mobility, energy infrastructure, commercial mobility and battery management system, among others, to the general masses and enterprises. Besides, they are also helping reduce carbon emissions and offering a cheaper alternative to fossil fuels.

Let’s take a look at some of the Indian startups that are helping keep the earth healthy and green through their technology and products. The list below is not meant to be a ranking of any kind. The Indian EV brands have been listed in alphabetical order.

Startups In The EV Segment 

1. 3EV Industries

• Founded In: 2019
• Founders: Peter Hartmut Voelkner, Suman K. Mishra
• Funding Raised To Date: $2 Mn
• Investors: Credence Family Office
• Headquarters: Bengaluru

3EV Industries was founded in association between RUGGED Solar Products Pvt Ltd and ReBatt Limited in 2019. It offers last-mile hyper-local connectivity to customers across India. 

In November 2021, 3EV Industries raised $2 Mn in its seed funding round from several family offices including Credence Family Office. The startup originally aligns with the Indian government’s ‘Make in India’ ambitions.

It manufactures vehicles across cargo and passenger segments, along with kits to convert conventional vehicles to electric. It aims to use renewable energy and off-grid power systems to optimise last-mile logistics. 

_____________________________________________________________________________________

2. Altigreen Propulsion Labs

• Founded In: 2013
• Founders: Amitabh Saran, Shalendra Gupta 
• Funding Raised To Date: $40 Mn 
• Investors: Reliance New Energy Limited, Xponentia Capital, Accurant International and Momentum Venture Capital
• Headquarters: Bengaluru

Altigreen offers last-mile transportation through two-wheeler, three-wheeler and four-wheeler EVs for commercial use.

In February 2022, Altigreen raised INR 300 Cr ($40 Mn) in a Series A funding round led by Sixth Sense Ventures. The round saw participation from Reliance New Energy Limited (RNEL), Xponentia Capital, Accurant International and Momentum Venture Capital.

The startup has a presence in 60 countries, along with 26 global patents. It had a turnover of INR 1.04  Cr in FY21 against INR 61.62 lakh in FY20.

______________________________________________________________________________________

3. Ather Energy

• Founded In: 2013
• Founders: Tarun Mehta, Swapnil Jain
• Funding Raised To Date: $225 Mn
• Investors: Hero Motocorp, Department of Science and Technology, IIT Madras, Binny Bansal, Sachin Bansal, Tiger Global, NIIF Limited
• Headquarters: Bengaluru

Ather Energy offers sustainable mobility and energy infrastructure solutions. It manufactures two-wheeler electric vehicles, 450X and 450 Plus, that are sold on its website and offline retail stores. 

In May, Ather secured $128 Mn in its Series E funding round from sovereign fund NIIF Limited and existing investor Hero MotoCorp. With this round, it also closed its Series E round.

The startup claims to have installed more than 1,000 charging stations across 80 cities in India. It aims to have around 2,500+ charging stations by the end of 2023.

It was earlier reported that the EV startup had set up its second manufacturing plant in Hosur to meet the demand for electric scooters. In October 2021, its annual revenue rate (ARR) rose by 12X to $100 Mn.

____________________________________________________________________________________________

4. Baaz Bikes

• Founded In: 2019
• Founders: Karan Singla, Abhijeet Saxena, Shubham Srivastava 
• Funding Raised To Date: $2 Mn
• Investors: Kalaari Capital, AdvantEdge, 9Unicorns, Sumant Sinha
• Headquarters: New Delhi

Baaz Bikes, a subsidiary of ElecTorq Technologies, offers micro-mobility solutions to gig workers. It helps gig workers earn money by using its electric scooters for deliveries for companies such as Zomato, Amazon and Grofers.

Baaz Bikes raised $2 Mn in Pre-Series A funding round from Kalaari Capital along with the participation of AdvantEdge, 9Unicorns and Renew Power’s Sumant Sinha.

The EV startup’s scooters can cover a distance of 60 km on a single charge. It also has built battery swapping infrastructure in India. It claims that its swapping infrastructure is live in two zones in Delhi.

As per its website, its tech stack includes Baaz, Baaz Swap, Baazigar Platform and Baaz VU.

______________________________________________________________________________________________

5. Battery Smart

• Founded In: 2019
• Founders: Pulkit Khurana and Siddharth Sikka
• Funding Raised To Date: $43 Mn 
• Investors: Blume Ventures, Orios Ventures, Green Frontier Capital, TradeCred, Baring Private Equity India, Srinivas Anumolu, K Ganesh, Niraj Singh, Amit Bhasin  
• Headquarters: New Delhi

Battery Smart allows customers to swap their EV batteries at its stations, called Swap Stations. It currently offers its services to e-rickshaw owners. 

Battery Smart claims to operate more than 100 Swap Stations across Delhi-NCR and says it has completed more than 3 lakh battery swaps. Currently, it has 1200 active vehicles on its platform and makes 5,000 swaps on a daily basis.

In November 2021, Battery Smart raised $7 Mn in a Pre-Series A funding round led by Blume Ventures and Orios Ventures. The round saw participation from investors including Green Frontier Capital, TradeCred, Baring Private Equity India, and angel investors such as Bluestone’s Srinivas Anumolu, and GrowthStory.in’s K Ganesh, Spinny’s Niraj Singh and GoMechanic’s Amit Bhasin.

Prior to this, Battery Smart raised an undisclosed amount of investment in a seed funding round from Orios Venture Partners in February 2021. The startup has further raised $25 Mn in its Series A round in June 2022 led by Tiger Global, Blume Ventures and Orios Ventures and two debt rounds from Stride Ventures and BlackSoil.

Battery Smart claims to have completed 10 Mn swaps, set up 550+ live swap stations across 18 cities and works with 18,500 vehicles.

______________________________________________________________________________________________

6. BGauss

• Founded In: 2020
• Founders: Hemant Kabra
• Funding Raised To Date: $7 Mn
• Investors: Darshan Patel
• Headquarters:  Mumbai

BGauss, which is promoted by RR Global, offers sustainable mobility solutions. The startup manufactures two EVs – BGauss B8 and BGauss A2 – which are sold on its website as well as in offline stores. It is currently expanding its product portfolio by launching two new EV scooters in 2022. 

According to an Inc42 report, BGauss’ new EV scooter D15 will be launched in May 2022, while the other scooter will be launched later this year. The startup claims that these scooters will be 100% ‘Made in India’ at its production facility located in Chakan near Pune.

Recently, the EV startup got $7 Mn in funding from Vini Cosmetics’ Darshan Patel to expand retail and manufacturing capacity in India, perform R&D and develop in-house products across various EV components. It claims to have 100 dealer networks across India and is planning to enter Tier 2 and Tier 3 cities by the end of 2022. It is further looking to scale up operations and focus on the export market.

As per its website, it has a presence in more than 85 countries. It also has 13 manufacturing facilities and over 25K retail stores. ______________________________________________________________________________________________

7. BluSmart 

• Founded In: 2019
• Founders: Anmol Singh Jaggi, Punit K Goyal
• Funding Raised To Date: $67 Mn
• Investors: Stride Ventures, Alteria Capital, BlackSoil, UCIC, BP Ventures, Green Frontier Capital, Mayfield India Fund, 9Unicorns, Suvan Partners,  Mumbai Angels, Inflection Point Ventures, Venture Catalysts
• Headquarters: Gurugram

BluSmart offers electric ride-hailing mobility services through its mobile-based app. It primarily provides sustainable mobility solutions to urban customers.

In May, BluSmart secured $25 Mn through equity and debt financing in its Series A funding round. Investors who participated in the round include BP Ventures, Green Frontier Capital, Stride Ventures, Alteria Capital, BlackSoil and UCIC.

Recently, it started intercity EV services from Delhi NCR to Jaipur and Chandigarh. It has also scaled EV services at Delhi IGI Airport. It is currently looking to expand its EV charging hubs across Delhi NCR and expand its fleet to over 5,000. 

______________________________________________________________________________________

8. BOLT

• Founded: 2017
• Founders: Jyotiranjan Harichandan and Mohit Yadav
• Funding Raised To Date: $4 Mn 
• Investors: ITI Growth Opportunities Fund, SUN Mobility, Union Square Ventures, Prime Venture Partners
• Headquarters: Bengaluru 

BOLT, previously known as REVOS, is an AI-based IoT platform that helps people operate EVs. It essentially tracks and monitors motor controllers as well as batteries on the platform. 

In September 2021, BOLT raised $4 Mn in its Series A round led by Union Square Ventures (USV) and Prime Venture Partners. It claims to have sold about 1,000 devices, including EVs and chargers in 30 original equipment manufacturers (OEMs), across India, China, Nepal, Egypt and Vietnam to date. The startup claims it has installed 10,000 EV charging stations in India in the past six months. 

BOLT is reportedly aiming to deploy 100K charging stations in the coming six months to meet the demand in cities like Jaipur, Ahmedabad, Lucknow, Nagpur, Nashik, Chandigarh, Surat, and Bhubaneswar, among others.

Recently, BOLT also partnered with the Delhi Capitals cricket team for the IPL.

______________________________________________________________________________________________

9. Cell Propulsion

• Founded In: 2017
• Founders: Nakul Kukar, Paras Kaushal, Supratim Naskar
• Funding Raised To Date: $4 Mn
• Investors: growX ventures, Micelio, Endiya Partners, CIIE.CO, Sangam Ventures
• Headquarters: Bengaluru

Cell Propulsion offers sustainable mobility solutions and charging infrastructure. The startup develops high-voltage powertrains technology for commercial vehicle applications. Besides this, it manufactures electric commercial vehicles – Oryx Electric and Beluga Electric. While Oryx Electric is available for sale, Beluga Electric has not been officially launched yet by the startup. 

As per its website, GrowX Ventures, Endiya, Micelio and CIIE.CO and Sangam Ventures are among its investors. It has covered over 200K emission-free distance and onboarded five fleets to date. It is currently managing over 10 fast-charging stations.

In 2021, it reportedly secured $2 Mn of funding from a cohort of private equity investors including Endiya Partners, GrowX Ventures, Huddle Accelerator and Micelio. Prior to this, it raised $1 Mn in a pre-Series A funding round in September 2020. 

In 2019, it was also a part of Huddle and growX Ventures’ EV accelerator program.

______________________________________________________________________________________________

10. CHARGE+ZONE

• Founded In: 2018
• Founders: Kartikey Hariyani and Pavan Bakeri
• Funding Raised To Date: $17 Mn
• Investors: Venture Catalysts, Mumbai Angels, Keiretsu Forum, Ramakrishnan Family Office
• Headquarters: Gujarat

CHARGE+ZONE offers an OEM charging network through its app-based charging stations. Its app provides an array of services to EV drivers, such as finding charging points, and booking them in advance. 

In December 2021, CHARGE+ZONE raised $10 Mn in a bridge funding round led by Venture Catalysts. Prior to this, it raised $4 Mn in the same round. CHARGE+ZONE currently aims to raise another $50 Mn in a Series A funding round in 2022. 

In November 2021, CHARGE+ZONE raised $3 Mn in a Pre-Series funding A round led by Venture Catalysts. The round saw participation from Mumbai Angels, Keiretsu Forum and Ramakrishnan Family Office. Earlier in May 2021, it raised an undisclosed amount from Mumbai Angels. 

CHARGE+ZONE is reported to have started the distribution of AC-Type2 EV charging networks and intercity fast DC charging networks for 1,500 new points over the next 150 days.

______________________________________________________________________________________________

11. Chargeup

• Founded In: 2019
• Founders: Varun Goenka and Ankur Madan
• Funding Raised To Date: $2.5 Mn
• Investors:  Capital A, Anicut Capital, MapmyIndia,  Sameer Mehta, Aman Gupta, Tiger Shroff, Shraddha Kapoor  
• Headquarters: New Delhi

Chargeup offers battery swapping services for three-wheeler EVs in India. 

In February 2022, Chargeup reportedly raised $2.5 Mn in Pre-Series A funding round led by Capital A and Anicut Capita. 

The round also saw participation from angel investors including boAt’s Sameer Mehta, Aman Gupta, Tiger Shroff and Shraddha Kapoor. The startup claims to have expanded to 100 stations and onboarded 800 drivers on its platform. It further says that it has 100 dealers working with the platform.

As per its website, Chargeup has an AI and ML-based platform that provides services such as subscription-based usage, delivers 5,000 MwHr, forecasts demand hotspots, predicts energy demand, and operates 10K charging stations. The startup claims to have 800 satisfied users and 100 dealers associated with it. It also aims to power 1 Mn EVs by 2027.

______________________________________________________________________________________________

12. Corrit Electric

• Founded In: 2020
• Founders: Mayur Misra
• Funding Raised To Date: $9 Mn 
• Investors: SphitiCap
• Headquarters: Noida

Corrit Electric offers sustainable mobility solutions to consumers and B2B customers. It sells three electric bikes – Hover 1.0, Hover 2.0 and Hover 2.0+. The company has recently launched an electric bike, Transit, for B2B deliveries. It has a top speed of 70 kmph and payload capacity of 200 Kg. 

In November 2022, it secured $9 Mn in funding from venture capital fund SphitiCap to ramp up its production facility and manufacture electric bikes to resolve issues related to last-mile connectivity.

Earlier, it had shared plans to build 1.5 Lakh electric bikes in the next three years.

_______________________________________________________________________________________________

13. ElectricPe

• Founded In: 2021
• Founders: Avinash Sharma, Raghav Rohila
• Funding Raised To Date: $8 Mn
• Investors: Blume Ventures, Micelio Fund, Anshuman Bapna, Anupam Mittal, Arjun Ravi Sheth, Ashish Goel, Bhuvan Gupta, Green Frontier Capital, NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels
• Headquarters: Bengaluru

ElectricPe offers charging infrastructure to customers. Through its app, EV owners can locate charging stations near them.

In November 2021, ElectricPe raised $3 Mn in a seed funding round led by Blume Ventures and Micelio Fund. The round saw participation from Terra.do’s Anshuman Bapna, Shaadi.com’s Anupam Mittal, Anchorage Capital’s Arjun Ravi Sheth, Urban Ladder’s Ashish Goel, and OfBusiness’ Bhuvan Gupta, among others.

Recently, Hero Electric partnered with ElectricPe to set up charging points pan-India for its customers. The charging infrastructure would be built in residential complexes, offices, malls, and other establishments. The partnership aims to strengthen the charging network and support EV adoption across India.

Prior to this, NoBroker had also partnered with ElectricPe to set up 1 Lakh electric charging stations in residential communities across India in 2022.

In January 2022, ElectricPe raised $5 Mn in its pre-series A round led by Green Frontier Capital, Blume Ventures and Micelio Fund, with participation from NB Ventures, Anchorage Capital Partners, Supermorpheus and Climate Angels.

_______________________________________________________________________________________________

14. Emflux Motors 

• Founded In: 2016
• Founders: Ankit Khatry, Varun Mittal, Vinay Raj Somashekar
• Funding Raised To Date: $648K
• Investors: Meher Roy, Nikhil Arora, Meet Kanodia, Krit Sankalp, Nitish Singh and Risabh Gupta
• Headquarters: Bengaluru 

Emflux Motors offers sustainable mobility solutions and other tech solutions for EVs. It sells an electronic bike Emflux One that has a maximum speed of 200 kmph and can cover up to 200 km on a single charge. Besides this, it sells technology stack such as battery management system, motors, motor controller, charger circuit, EVSE, master controller, and battery pack. 

In 2017, Emflux Motors raised $648K in an angel funding round. The round saw participation from Meher Roy, Nikhil Arora, Meet Kanodia, Krit Sankalp, Jugnoo’s Nitish Singh, and Risabh Gupta.

The EV startup aims to create 10 Mn two-wheeler EVs in India by 2027. It primarily focuses on building brand and loyalty by creating high-performance electric vehicles.  It also plans to build an ecosystem of partner OEMs and become their tech and component supplier. 

______________________________________________________________________________________________

15. EMO Energy

• Founded In: 2022
• Founders: Sheetanshu Tyagi and Rahul Patel
• Funding Raised To Date: $1.5 Mn
• Investors: Transition VC, Gruhas
• Headquarters: Bengaluru

With its integrated tech stack for two- and three-wheeler EVs and heavy-duty vehicles, deeptech startup EMO Energy is addressing two challenges adversely affecting EV adoption in India – safety and charging efficiency. 

The startup calls its technology platform ZEN, which comes with different applications such as ZEN PAC (swappable battery packs for two- and three-wheelers), ZEN Ctrl. (battery management system and connected software), ZEN Rig (battery packs for heavy-duty vehicles), and ZEN Wall (fully integrated battery inverter system for residential and light commercial use).

EMO Energy has successfully conducted pilot programmes with nearly 10 electric vehicle (EV) companies in the country, deploying approximately 100 batteries to date. The startup is rapidly expanding its network of partnerships. While most of its offerings are still in the pilot phase, EMO Energy has already started generating revenue by selling its battery packs, ranging from 2 kWh to 3 kWh, for two- and three-wheelers.

______________________________________________________________________________________________

16. EMotorad

• Founded In: 2020
• Founders: Rajib Gangopadhyay, Kunal Gupta, Aditya Oza, Sumedh Battewar
• Funding Raised To Date: $5.9 Mn
• Investor: Basant Lohia from TaraSafe, Green Frontier Capital (GFC), LetsVenture, Ivy Growth associates
• Headquarters: Pune
• EMotorad sells electric cycles for daily commuting and casual rides. The startup uses local sourcing and manufacturing facilities in India to build electric cycles.

In October, the Pune-based startup secured $2.9 Mn (INR 24 Cr) in its Pre-Series A funding round. During that time, it asserted that it sold more than 16K electric cycles in India since its inception

It raised $3 Mn in its seed funding round in late 2021. Its cap table includes Green Frontier Capital (GFC), LetsVenture, Ivy Growth associates and Basant Lohia from TaraSafe.

______________________________________________________________________________________________

17. ETrio 

• Founded In: 2016
• Founders: Sathya Yalamanchili, Deepak M V 
• Funding Raised To Date: $3 Mn
• Investor: Janardhan Rao
• Headquarters: Hyderabad

Etrio offers commercial and non-commercial electricity mobility solutions. Its product portfolio includes electric kits, retrofitted electric light commercial vehicles (eLCVs), a three-wheeler EV named Touro, and two bicycles – Ashva and iSwitch. eLCVs have been launched to transform and electrify the logistics segment, while bicycles were launched to meet the demands of cargo and personal segments. 

In 2020, ETrio raised $3 Mn in a Series A funding round led by Triumph Global’s Janardhan Rao. The round saw participation from a cohort of Singapore-based HNIs. 

As per its website, ETrio has partnered with various companies including Amazon, BigBasket, Flipkart, DIAGEO, Lightning Logistics, Amplus Solar, and ZYPP Electric. 

It has also received certifications from various government bodies such as ARAI, the Ministry of Road Transport and Highways, and the Ministry of Micro, Small and Medium Enterprises, among others. 

______________________________________________________________________________________________

18. Euler Motors

• Founded In: 2018
• Founders:  Saurav Kumar
• Funding Raised To Date:  $21.8 Mn 
• Investors: Blume Venture, Emergent Ventures, Andrew Lee, Inventus India, Jetty Ventures, Srinivas Anumolu, K Ganesh, Sujeet Kumar, QRG Investments and Holdings, ADB Ventures,
• Headquarters: New Delhi 

Euler Motors offers commercial electrical mobility solutions through three-wheeler EVs, energy infrastructure, app and web-based software solutions. Its three-wheeler EV, Euler HiLoad, has the capacity to hold up to 688 Kg. The company claims it can get charged in 15 minutes and cover a distance of 151 Km on a single charge.

In the charging infra, the EV startup offers three types of chargers – Flash2, onboard charger, and Charge on Wheels. In the software segment, its app provides an array of services such as real-time GPS tracking, learning analytics, geo-fencing, and battery temperature, among others. 

In April 2022, Euler Motors raised about $5 Mn in a follow-on Series B round from Moglix. Prior to that, it raised $10 Mn as a part of a Series B funding round led by QRG Holdings. The round saw participation from ADB Ventures, Inventus Capital, and Blume Ventures. 

It claims to have supplied more than 250 three-wheeler EVs to various companies including Ecom Express, BigBasket and Udaan.

_______________________________________________________________________________________________

19. EVage

• Founded In: 2014
• Founders: Inderveer Singh, Pulkit Srivastava, Harnoor Kaur
• Funding Raised To Date: $28 Mn
• Investors: RedBlue Capital
• Headquarters: Chandigarh

EVage offers commercial solutions for sustainable mobility. It plans to supply electric commercial vehicles to the delivery fleets of logistics companies. 

Recently, Evage raised $28 Mn in a seed funding round from RedBlue Capital. Its first model, X, is a one-tonne truck built for the commercial delivery market.

The startup claims to be the supplier to Amazon India’s delivery partners. 

______________________________________________________________________________________________

20. Evera

• Founded In: 2019
• Founders: Nimish Trivedi, Vikas Bansal, Rajeev Tiwari
• Funding Raised To Date: $7 Mn
• Investors: Westova Capital, Devonshire Capital, IEG – Investment Banking Group
• Headquarters: New Delhi

Evera is a New Delhi-based electric cab services provider that operates in both B2B and B2C verticals. Founded in 2019, the startup claims to have taken more than 40,000 rides, with a network of 43 charging stations in the national capital region.

Unlike many ride-hailing companies, Evera employs full-time drivers rather than working with gig workers. The startup says the drivers can’t cancel rides since they’re paid by the startup.

Evera competes directly with BluSmart, which raised $42 Mn in May 2023.

______________________________________________________________________________________________

21. Exponent Energy

• Founded In: 2020 
• Founders: Arun Vinayak, Sanjay Byalal
• Funding Raised To Date: $5 Mn 
• Investors: YourNest VC, 3one4 Capital, AdvantEdge VC, Motherson Group, Rajesh Yabaji, Pushkar Singh
• Headquarters: Bengaluru 

Exponent Energy offers energy solutions to EV owners. The startup claims that its lithium-ion battery and charger combo can charge EVs up to 100% within 15 minutes.  

In December 2021, the EV startup raised $5 Mn in a Pre Series A funding round led by existing investor YourNest VC. The round saw participation from other investors including 3one4 Capital, AdvantEdge VC and Motherson Group. 

As per an Inc42 report, it also raised an undisclosed investment in September 2021 from investors including YourNest, 3one4 Capital, AdvantEdge, BlackBuck’s Rajesh Yabaji, and LetsTransport’s Pushkar Singh among others.

Before launching Exponent Energy, its cofounder Arun Vinayak worked with Ather Energy for seven years, while the other cofounder Sanjay Byalal had earlier worked with Ather Energy as well as HUL.

________________________________________________________________________________________________

22. Fyn Mobility

• Founded In: 2013
• Founders: Visakh Sasikumar
• Funding Raised To Date: $2.4 Mn 
• Investors: Eagle10 Ventures, Bluehill Capital, Sattva Group, Nanavati family, Sincere Syndication, Conscience Multi-Family Office, GAIL (India) Ltd,  Arshad Sayyad, Vijay Ratnaparke, Shaji Koshy and IITM Research Park’s Ashok Jhunjhunwala, among others.
• Headquarters: Bengaluru

Fyn Mobility, which was earlier known as Pi Beam, offers micro-mobility EV solutions and data analytics services for the EV ecosystem. Its product portfolio includes PIMO Utility two-wheeler, E-Trike, E-Kart, and E-Auto.  

In March 2022, Fyn reportedly raised $1.7 Mn in a Pre-Series A round led by Inflection Point Ventures. 

The round saw participation from investors including Sattva Group and Nanavati family, Sincere Syndication and Conscience Multi-Family Office, and angel investors Fidelity Investments’ Arshad Sayyad, Robert Bosch’s Vijay Ratnaparke, Royal Enfield’s Shaji Koshy and IITM Research Park’s Ashok Jhunjhunwala, among others.

Prior to this, the EV startup raised $705K in a bridge funding round from GAIL (India) Ltd. Currently, it has a presence in Bengaluru and Chennai. It plans to add 2,000 EVs by FY23. 

_______________________________________________________________________________________________

23. goEgoNetwork

• Founded In: 2021
• Founders: Sayantan Chakraborti, Dheeman Kadam, Pravin Kumar 
• Funding Raised To Date: $2 Mn
• Investors: Olivier Guillaumond, Rishi Bagla
• Headquarters: Pune

goEgoNetwork offers energy solutions to customers. With its goME app, EV owners can locate the nearest charging stations and use them. 

In August 2021, goEgoNetwork raised $2 Mn (nearly INR 15 Cr) in seed funding to expand its existing electric charging network. The round saw participation from Bagla Group’s Rishi Bagla and Global Innovation Labs’ Olivier Guillaumond.

In 2021, goEgoNetwork is reported to have partnered with TVS Motor to promote EV infra in Himachal Pradesh. Following this, it set up an EV charging facility at Kaza in Spiti Valley to cater to the needs of EV scooters and cars in the region.

The EV startup has got certifications from various government bodies including ARAI and OCA.

_______________________________________________________________________________________________

24. Grinntech 

• Founded In: 2013
• Founders: Nikhilesh Mishra, Puneet Jain
• Funding Raised To Date: $2 Mn  
• Investors: V Sumantran, Lakshmi Narayan, KS Manian
• Headquarters: Chennai

Grinntech offers energy storage solutions to customers. It claims to provide an array of lithium-ion batteries such as IC Engine starter batteries, e-cycle and robotics batteries, two-wheeler batteries, three-wheeler batteries, small commercial vehicle batteries, light commercial vehicle batteries, and MHCV batteries, among others.

In 2020, Grinntech raised $2 Mn in an angel funding round. The round saw participation from investors including Ashok Leyland’s V Sumantran, Cognizant’s Lakshmi Narayan, and NAPC’s KS Manian. During the same year, the startup also graduated from the IIT Madras Incubation Cell.

In 2020, Grinntech inked an MoU with the Tamil Nadu government involving an investment of INR 100 Cr. In the following year, it established a manufacturing facility in Chennai that can meet the demand of up to 400 MWh.

_______________________________________________________________________________________________

25. Kabira Mobility

• Founded In: 2019
• Founders: Jaibir Siwach, Akash Siwach, and Sagar Siwach
• Funding Raised To Date: $52 Mn
• Investors: Al-Abdulla Group, Classic Group
• Headquarters: Goa

Kabira Mobility is a Goa-based electric motorcycle manufacturer, which started a fledged sales of its ebikes in April 2022. It targets young bike enthusiasts. 

The startup has so far launched two models of its flagship bikes – KM3000 and KM4000. While its KM3000 bike model comes with a 4.14 kWh battery capacity and a range of 120 km per charge, the KM4000 model has a battery capacity of 4.60 kWh and offers a range of 150 km. 

Kabira Mobility also has plans to launch pro variants of its KM3000 and KM4000 models this year. Next year, the ebike startup is expected to launch a new model – KM5000 – in the cruiser bike category.

Earlier this year, the startup raised $50 Mn (around INR 412 Cr) in its Series A funding round Qatar-based Al-Abdulla Group, taking its total funding received to INR 430 Cr.

_______________________________________________________________________________________________

26. Kazam EV

• Founded In: 2020 
• Founders: Akshay Shekhar, Vaibhav Tyagi
• Funding Raised To Date: $4.53 Mn
• Investors: Inflection Point Ventures, We Founder Circle 
• Headquarters: Bengaluru

Kazam EV offers software solutions for energy infrastructure. Besides aligning with its own charging stations, the startup’s software supports charging stations of other EV companies as well. It additionally helps micro-entrepreneurs earn money by setting up charging stations in their parking areas. 

In 2021, Kazam raised INR 7 Cr ($0.93 Mn) in a seed round led by Inflection Point Ventures. Besides, it raised an undisclosed amount of investment from We Founder Circle. Earlier in May 2023, the startup picked up $3.6 Mn in a round led by Avaana Climate Fund.

As per its website, Kazam has set up over 7,000 charging stations in India. It has a presence in Karnataka, Maharashtra, Delhi-NCR, Telangana and Tamil Nadu. Its products are essentially utilised by EV OEMs, EV fleet operators and micro-entrepreneurs.

_______________________________________________________________________________________________

27. kWh Bikes

• Founded In: 2020
• Founders: Kartik Gupta, Siddharth Janghu 
• Funding Raised To Date: $2 Mn
• Investors: LetsVenture, Better Capital, Cloud Capital, Renu Satti, Vijay Shekhar Sharma, Rajiv Nazareth, Paresh Sukthankar, Dipak Gupta
• Headquarters: Bengaluru

kWh Bikes manufactures electronic bikes, EV chassis, vehicle control units, battery packs and motors. The EV startup claims that its prototypes can reach a speed of up to 70 kmph and can also cover 150 km on a single charge.

According to an Inc42 report, kWh’s scooters are in pre-production and the company has received expressions of interest (EOIs) for over 15,000 units. The startup further plans to enter the Indian B2C market.     

In October 2021, it reportedly raised $2 Mn in a seed round led by LetsVenture. The round saw participation from Better Capital, Cloud Capital and angel investors including Paytm Payments Bank’s Renu Satti, Paytm’s Vijay Shekhar Sharma, ALF Engineering’s Rajiv Nazareth, HDFC’s Paresh Sukthankar, and Kotak’s Dipak Gupta, among others.

The startup is planning to expand research and development (R&D) across various EV components such as battery, BMS, VCU, and motor.

_______________________________________________________________________________________________

28. Lithium Urban Technologies

• Founded In: 2014
• Founders: Sanjay Krishnan
• Funding Raised To Date: $58 Mn
• Investors: IFC, EverSource Capital 
• Headquarters: Bengaluru 

Lithium Urban offers sustainability solutions and charging infrastructure to business organisations. The startup essentially offers transport service through its fleet of EVs and associated charging stations.

As per its website, the startup is certified by ISO for implementing guidance on social responsibility. It presently has a fleet size of 2,000 vehicles and operates in over 15 cities, including Bengaluru, NCR, Hyderabad, Pune, Chennai and Mumbai. 

Through its tech stack, the startup claims to deliver 2X productivity, reduce carbon footprint and cut down transportation costs by 40%. As per Tofler, its revenue from operations stood at INR 53.6 Cr in FY20 as against INR 41.8 Cr in FY19. However, its loss widened to INR 21.1 Cr in FY20 as compared to INR 15.3 Cr in the previous fiscal year. 

A few days ago, it reportedly partnered with Tata Motors to deploy 5000 XPRES T Electric Sedans across India for employee transportation.

In March 2022, EverSource Capital, which manages India’s largest climate impact funds, acquired a majority stake in the startup for about $50 Mn. Prior to this, the startup raised $8 Mn from World Bank’s investment arm, International Finance Corporation (IFC), as an equity investor. It raised additional capital from other investors as well. 

_______________________________________________________________________________________________

29. Lohum

• Founded In: 2017
• Founders: Rajat Verma, Justin Lemmon, Gazanfar Safvi
• Funding Raised To Date: $20 Mn+
• Investors: Baring Private Equity Partners, Talbros Automotive Components, Stride Ventures
• Headquarters: Noida

Lohum is a producer of lithium-ion battery raw materials, which it achieves by recycling, repurposing, and low-carbon refining.

Working in a closed-loop recycling model, Lohum acquires used lithium-ion batteries from electric vehicles, stationary storage, and consumer electronics. These batteries are then tested and, if deemed reusable, they are given a second life. If the batteries reach their end-of-life, Lohum recycles the battery materials and sells the resulting metals and chemicals to various customers across the supply chain.

Since its inception, the startup has raised over $20 Mn in funding. Lohum recently said that it has collaborated with insurtech unicorn ACKO to optimise the battery insurance and financing costs for the customers.

_______________________________________________________________________________________________

30. Magenta Mobility

• Founded In: 2018
• Founders: Maxson Lewis
• Funding Raised To Date: $35 Mn
• Investors: bp Ventures, Morgan Stanley India, JITO Angel Network
• Headquarters: Mumbai

From being a solution provider in the EV charging ecosystem, Magenta Mobility has pivoted to becoming an end-to-end integrated emobility solution provider. 

Currently, it operates over 1,550 electric three-wheelers in the L5 category for last-mile delivery, which it is planning to expand to more than 3,000 vehicles by the end of FY24. Magenta Mobility runs its cargo delivery and logistics services in nine cities, including Bengaluru, Mysuru, Pune Mumbai, Delhi NCR, and Hyderabad. The startup is not a manufacturer and sources its three-wheeler EVs from Piaggio, Altigreen Propulsion Labs, Euler Motors, and Mahindra.

In its charging ecosystem, Magenta Mobility manages 39 charging depots to cater to the charging needs of its EV fleet.

Besides, it also develops software technology to enable this entire emobility ecosystem.

In April 2023, Magenta Mobility raised $22 Mn (about INR 180.6 Cr) in its Series A1 funding round from bp Ventures and Morgan Stanley India infrastructure.

_______________________________________________________________________________________________

31. Metastable Materials

• Founded In: 2021
• Founders: Shubham Vishvakarma, Saurav Goyal, Manikumar Uppala
• Funding Raised To Date: Undisclosed 
• Investors: Sequoia Capital’s Surge,  Speciale Invest, Theia Ventures, Akshay Singhal, Sanjeev Rangrass
• Headquarters: Bengaluru

Metastable Materials has developed a one-of-its-kind mechanism, a chemical-free integrated carbothermal reduction process, for extracting and recycling materials from lithium-ion batteries in a more economical and efficient manner. 

The startup was part of the eighth cohort of Sequoia’s Surge accelerator program.

In April 2023, the cleantech startup raised an undisclosed amount of funding in its Seed round from Sequoia Capital’s Surge and other venture capitalists like Speciale Invest and Theia Ventures. 

Metastable Materials is now setting up a 21,000 sq ft battery recycling facility on the outskirts of Bengaluru.

_______________________________________________________________________________________________

32. MoEVing

• Founded In: 2021
• Founders: Mragank Jain, Vikash Mishra
• Funding Raised To Date:  $10 Mn 
• Investors:  D.S. Brar, Anshuman Maheshwary, Srihari Raju Kalidindi, Ashish Goel, Krishnadeva Veerareddy, BeyondTeq, GCC family offices, Strides One, TradeCred, N+1 Capital, and Nitish Mittersain
• Headquarters: Gurugram

MoEVing offers intra-city last-mile delivery solutions, energy infrastructure and fintech solutions. It provides delivery services to companies operating in ecommerce, e-grocery, FMCG, logistics and D2C. Besides, it also works along with OEMs, drivers and financial institutions to address the problems of EV owners when they adopt EVs.

In May, the EV startup secured $5 Mn through equity and debt financing in its ongoing seed funding round. Investors like BeyondTeq, GCC family offices, Strides One, TradeCred, N+1 Capital, and Nitish Mittersain from Nazara Technologies participated in the round. 

MoEving has a presence in 10 cities in India including Delhi-NCR, Pune, Mumbai, Chandigarh, Bengaluru, Hyderabad and Kolkata. It aims to add 10,000 EVs and 100 charging hubs in 30 cities by 2023. 

_______________________________________________________________________________________________

33. Motovolt Mobility

• Founded In: 2018
• Founders: Tushar Choudhary 
• Funding Raised To Date: $1.9 Mn 
• Investors: Wami Capital, PPAP Automotive, Vikrampati Singhania, Ankur Agarwal, Vikas Bagaria
• Headquarters: Kolkata

Motovolt offers sustainable mobility solutions to consumers. Some of its electric bikes are URBN e-Bike, Kivo Easy, Ice, and Kivo 24. 

Recently, the startup also launched an electric bike called URBN for its consumers. The new electric bike has removable twin batteries, weighing about 10 kg each.

In November last year, it bagged $1.9 Mn in Pre-Series A funding round led by Wami Capital. Earlier, it had shared plans to invest INR 200 Cr into its business (in 2023) to enhance product offerings and expand its facility as well as sales network. It claims to have more than 100 POS across the country.

_______________________________________________________________________________________________

34. Oben Electric

• Founded In: 2020
• Founders: Madhumita Agrawal, Dinkar Agarwal, and Sagar Thakkar
• Funding Raised To Date: $10.7 Mn
• Investors: Stride Ventures, Indian Renewable Energy Development Agency, Mumbai Angels, We Founder Circle
• Headquarters: Bengaluru

Currently, the electric two-wheeler market is predominantly dominated by escooter manufacturers. However, the electric motorcycle sector is relatively limited, with only a few companies operating in this space.

Oben Electric is one of those few startups that are manufacturing electric bikes to make a major shift in a market ruled by the stalwarts like Bajaj Auto, TVS Motor, Hero MotoCorp, and Eicher Motors.

Its flagship electric motorcycle Oben Rorr comes with a top speed of 100 km per hour and a 4.4 kWh battery capacity that can fully charge in two hours.

In the electric motorcycle manufacturing space, Oben Electric currently competes with Revolt Motors, Ultraviolette, Matter, Odysse, Hop Electric, Kabira Mobility, and Orxa Energies.

The startup has raised around $10.7 Mn (over 88 Cr) in total funding so far. In its extended Pre-Series A funding round, it raised $4.88 Mn (INR 72 Cr) in June 2023.

_______________________________________________________________________________________________

35. Ohm Mobility

• Founded In: 2020
• Founders: Nikhil Nair
• Funding Raised To Date: $400K
• Investors: Antler India, Blume Founders Fund, Catalyst Fund, Kunal Shah
• Headquarters: Bangalore

Ohm Mobility is an end-to-end EV-focussed financing platform, which aims to help EV players to get easier access to institutional capital while enabling lenders to discover, verify, and deploy capital to EV companies. It is building a technology platform to connect EV buyers with capital providers.

In May 2023, Ohm Mobility raised INR 3 Cr in a pre-seed funding round led by Antler India. The funding round also saw participation from Blume Founders Fund and angels like Sagar Gubbi, Anshuman Bapna Mathew Chako, and Karishma Menon.

Its current client portfolio includes Race Energy, Eveez, and Hala Mobility, among others. The startup competes with the likes of Vidyut and Turno in the space.

_______________________________________________________________________________________________

36. Okinawa Autotech

• Founded In: 2015
• Founders: Jeetender Sharma 
• Funding Raised To Date: Bootstrapped 
• Investors: NA
• Headquarters: Gurugram

Okinawa offers sustainable mobility solutions. The startup offers EV vehicles–RIDGE+, PRAISE PRO, IPRAISE+, R30, Okinawa R30 and LITE. Its high-speed scooters hold various features such as detachable batteries, fast charging, central locking, app connectivity, etc. Its EV vehicles are priced at INR 50K-INR 1.14 Lakh.

As per LinkedIn, it has over 350 dealerships across India so far. It has received a FAME II subsidy from the Indian government and also, got IATD certification for design and manufacturing. It also partnered with the Indian Navy, Delhi Transport Corporation and Tirupati Smart City.

It claims to have sold more than 1 lakh EV scooters since its inception. It has two manufacturing plants in Rajasthan; one plant with a capacity of more than 1 lakh units is in Bhiwandi while the other with 0.5 Mn units is in Alwar. 

Since It’s a bootstrapped venture, the startup has not got external financing so far. However, it is reportedly looking at raising INR 400-INR 500 Cr from American and European private equity players.

_______________________________________________________________________________________________

37. Ola Electric 

• Founded In: 2017
• Founders: Bhavish Aggarwal
• Funding Raised To Date: $859.7 Mn  
• Investors: Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, Tiger Global and Matrix India, SoftBank, Hyundai, Kia Motors, Bank of Baroda, Falcon Edge, IIFL PE, Cars 24, Moglix, Dealshare, VSS Investco, Pawan Munjal, Ratan Tata, Rahul Mehta
• Headquarters: Bengaluru

Bhavish Agarwal-led Ola Electric offers two-wheelers EVs and energy infrastructure. Founded in 2017, the EV startup manufacturing facility, Ola Future Factory, has a production capacity of 10 Mn two-wheeler EVs per annum and deploys over 3000 robots. 

Recently, Ola Electric was also selected for receiving incentives from the Indian government under the $2.4 Bn PLI scheme to manufacture advanced chemistry cell batteries. A few days later, it also invested in Israel-based battery technology company StoreDot to have access to its XFC battery technology that charges batteries in five minutes. 

In January 2022, Ola Electric completed a $200 Mn Series C funding round at a valuation of $5 Bn. The round saw participation from investors including Tekne Private Ventures, Alpine Opportunity Fund, and Edelweiss, among others. 

Ola Electric claims to have sold EV scooters worth $150 Mn to date. As per Tofler, it clocked a revenue of INR 107 Cr and a loss before taxes of INR 107 Cr in FY21. 

In December 2021, Ola Electric was expected to head for IPO listing as the EV startup increased its authorised share capital to INR 3,825 Cr.

_______________________________________________________________________________________________

38. Prakriti E-Mobility

• Founded In: 2019
• Founders: Nimish Trivedi, Rajeev Tiwari, Vikas Bansal
• Funding Raised To Date: NA
• Investors: IEG Investment Banking Group
• Headquarters: New Delhi

Prakriti offers sustainable transport solutions and charging infrastructure. It offers a fleet of EV cabs, Evera Cabs, to individual customers and organisations. Besides this, it operates battery charging stations in Delhi-NCR. As per its website, it has set up 43 charging stations, including 13 fast-charging stations, that cater to the needs of commercial and private vehicles.

It claims to have recorded about 8 Mn Kms across Delhi-NCR in the last 2.5 years. It further states that it has partnered with online travel company MakeMyTrip and the Delhi government.

In April this year, it raised an undisclosed investment from IEG Investment Banking Group as part of its Pre-Series A funding round. The first tranche of $5 Mn capital would be invested in the startup’s Pre-Series A round.

It aims to expand to inter-city travel segments and also venture into Tier-2 cities in the future. 

_______________________________________________________________________________________________

39. Pure EV 

• Founded In: 2015
• Founders: Rohit Vadera, Nishanth Dongari
• Funding Raised To Date: NA
• Investors: VC Nannapaneni
• Headquarters: Telangana

PURE offers sustainable mobility solutions and energy storage systems. It manufactures Lithium batteries and five EVs including eTryst 350, epluto, epluto7G, ETranceNEO and ETrance+.   

Its electric bike, eTryst 350 is powered by 4.0 KW peak and 3.0 KW nominal motors. The EV bike’s top speed is 85 kmph and has a load capacity of 160 kg. The epluto scooter is powered with 250 Watt brushless hub motor, and has a top speed of 25 kmph. The epluto7G is powered by 2.2 KW peak and 1.5 KW nominal motors and has a top speed of 60 kmph. 

The ETranceNEO scooter is powered by 2.2 KW peak and 1.5 KW nominal motors and has a top speed of 60 kmph. It has a loading capacity of 150 kg. The ETrance+ is powered by a 250-watt motor and has a top speed of 25 kmph.

The startup graduated from IIT Hyderabad. In 2019, it reportedly secured an undisclosed amount of funding from VC Nannapaneni, chairman and managing director of Natco Pharma, at a valuation of $35 Mn.  

______________________________________________________________________________________________

40. RACEnergy

• Founded In: 2018
• Founders: Arun Sreyas, Gautham M
• Funding Raised To Date: $4.3 Mn
• Investors:  Huddle, Prophetic Ventures, Micelio, growX Ventures
• Headquarters: Hyderabad

RACEnergy builds retrofit kits for transforming conventional three-wheeler vehicles into EVs. It also provides energy infrastructure via its battery-swapping stations.

The startup reportedly raised $1.3 Mn in a seed funding round led by Micelio Fund and growX ventures in 2021. The round saw participation from Huddle, Prophetic Ventures and BITSian Angels, among others. 

The capital, raised from the round, was infused in research and development (R&D), enhancing the startup’s swapping technology and infrastructure. Prior to this, it raised $500K in a seed funding round from growX ventures, Prophetic Ventures and some angel investors.

RACEnergy raised a Seed round of $ 1.3 Mn, led by Micelio Fund and growX ventures, along with investments from Huddle and Prophetic Ventures. The company raised $3 Mn in a pre-series A round led by growx Ventures with participation from Micelio Mobility, Huddle and other angel investors. The funds will be used for market expansion and for building a new facility.

It aims to set up an extensive battery-swapping network in India and foray into other continents by ​2023.

______________________________________________________________________________________________

41. Revolt Motors 

• Founded In: 2017
• Founders: Rahul Sharma 
• Funding Raised To Date: $20 Mn+ (approx)
• Investors: RattanIndia Group
• Headquarters: Haryana

Revolt offers sustainable mobility solutions across India. The startup manufactures AI-enabled EV bikes – RV 400 and RV 300. Its EV bikes are equipped with onboard charging and portable charging features. The RV 400 has a 3.24 kWh lithium battery while RV 300 has a 2.7 kWh lithium battery. 

The startup also offers app-based battery swapping stations named Revolt Switch Stations where EV bike owners can exchange their batteries for a charged one. It has retail stores in multiple cities of India, including Jaipur, Surat, Bengaluru, Delhi, Pune, Ahmedabad, Kolkata, Noida, Hyderabad, Chennai, Mumbai, Coimbatore, Madurai, Visakhapatnam, Lucknow, Kochi and Hubli. 

In April 2021, it secured INR 150 Cr (around $20.12 Mn at then exchange rates) from RattanIndia Group to expand its footprint in India and the South Asian market. With this investment, RattanIndia acquired a 43% stake in the Haryana-based EV startup, while Rajiv Rattan, chairman of RattanIndia Enterprises, joined its board as a non-executive chairman.

Earlier this year, RattanIndia acquired Revolt entirely, making it a wholly-owned subsidy.

______________________________________________________________________________________________

42. River

• Founded In: 2021
• Founders: Aravind Mani and Vipin George
• Funding Raised To Date: $28 Mn
• Investors: Al Futtaim Group, Lowercarbon Capital, Toyota Ventures, Maniv Mobility
• Headquarters: Bengaluru

River is an electric two-wheeler manufacturer that launched its first escooter model India in February this year. The startup ran operations in stealth mode for the last two years while working on its product development and R&D.

River’s Indie comes with a motor that has a peak power of 6.7 kW and can reach a top speed of 90 km per hour. The current vehicle model has a 4 kWh battery with a range of 120 km. 

River throws direct competition to the escooter majors like Ola Electric, Ather Energy, TVS Motor, Pure EV, and others.

In June, River raised $15 Mn (INR 124 Cr) and is looking to start its vehicle delivery in August this year. So far, the startup has raised $28 Mn in three funding rounds.

______________________________________________________________________________________________

43. SmartE 

• Founded In: 2015 
• Founders: Goldie Srivastava 
• Funding Raised To Date: $18.3 Mn 
• Investors: Mitsui and Co, Ecotransit Investments International, Shell Foundation
• Headquarters: Delhi

SmartE offers last-mile connectivity to commuters. The startup operates a fleet of electric vehicles in more than 10 cities in India, including Faridabad, Noida, Gurugram, Delhi, Lucknow, Kolkata, Mumbai, and Bengaluru. 

In January 2022, SmartE along with Revfin, an EV-focused lending startup, got an undisclosed amount of investment from the Shell Foundation to extend new loans to three-wheelers EVs on its platform. In July 2019, it raised INR 100 Cr in a Series B funding round from Mitsui and Co. Prior to this, it had raised $5 Mn in Series A round from Ecotransit Investments International.  

According to its website, SmartE has partnered with 17 companies such as Kinetic Green, NTPC, SBI, HSIIDC, ACME, Sun Mobility, Exicom and AMARA RAJA. It further claims to have worked with more than 25 clients, including BigBasket, Flipkart, SpicXpress, Milkbasket, and Blowhorn.

______________________________________________________________________________________

44. SUN Mobility 

• Founded In: 2016
• Founders: Chetan Maini, Uday Khemka
• Funding Raised To Date: $50 Mn 
• Investors: Vitol
• Headquarters: Bengaluru

SUN Mobility, a joint venture of Maini Group and Sun Group, offers energy infrastructure. It manufactures lithium-ion batteries, named Smart Batteries, for two-wheelers, three-wheelers, and buses. 

Through its app, EV drivers can locate its battery swapping stations and Quick Interchange Solutions, and swap their batteries. 

As per its website, the startup has partnered with various companies such as Omega Seiki, Vitol, Zypp Electric, Tata Power-DDL, Zyngo, Bosch, Piaggio, IndianOil, Uber, SmartE, Microsoft, and Ashok Leyland. It presently has 65 swapping stations in 15 cities in India, including Delhi, Noida, Faridabad, Chandigarh, Amritsar, Gurugram, and Bengaluru.

In October 2021, it reportedly secured $50 Mn in funding from Vitol to expand its footprint in India and abroad. 

It aims to set up 500 battery-swapping stations in the country by the end of the current year. It further plans to launch new products to improve the battery-swapping experience and strengthen its leadership.

________________________________________________________________________________________________

45. TSUYO

• Founded In: 2020
• Founders: Lalit Baid, Vijay Kumar 
• Funding Raised To Date: $12 Mn+
• Investors: Ramkrishna Forgings
• Headquarters: Delhi

TSUYO Manufacturing, a subsidiary of JYVA Engineering, makes powertrain solutions for electric vehicles (EVs) in India and other Asian nations.  

The startup produces BLDC motors and controllers for three-wheeler electric vehicles. It also builds customised EV solutions for companies, according to its website.

In December last year, Kolkata-based supplier Ramkrishna Forgings Ltd. acquired a 51% stake in TSUYO for around INR 100 Cr (around $12.07 Mn at the then exchange rates). 

Ramkrishna Forgings had said that it would invest heavily in TSUYO in the next five years to increase its turnover to around INR 500 Cr by the end of the fifth year. 

______________________________________________________________________________________

46. Ultraviolette Automotive

• Founded In: 2016
• Founders: Narayan Subramaniam and Niraj Rajmohan  
• Funding Raised To Date: $20.56 Mn
• Investors: TVS, Zoho Corporation, Kumar Vembu, 
• Headquarters: Bengaluru

Ultraviolette Automotive offers sustainable mobility solutions and energy infrastructure to customers. The EV startup sells a zero-emission electric bike named F77 and batteries on its website. 

In December 2021, Ultraviolette Automotive raised INR 112.5 Cr (about $15 Mn) from TVS Motor and Zoho. While TVS invested INR 75 Cr, Zoho pumped INR 38 Cr into the startup.  

Prior to this, Ultraviolette Automotive got an investment of INR 30 Cr from TVS in Series B funding round. In October 2020, it got an undisclosed amount of investment from GoFrugal’s Kumar Vembu as a part of a Series B round. Vembu also invested in the EV startup’s Series A round.

In 2018, Ultraviolette Automotive raised $862K (INR 6 Cr) in Series A round from TVS Motor Company. Earlier in 2017, TVS invested $700K (INR5 Cr) for a 14.78% stake in the EV startup.

______________________________________________________________________________________________

47. Vecmocon

• Founded In: 2016
• Founders:  Peeyush Asati, Adarshkumar B and Shivam Wankhede 
• Funding Raised To Date: Funding: $5.2 Mn
• Investors: Tiger Global, Blume Ventures, Tessellate Ventures
• Headquarters: Delhi-NCR

Vecmocon offers battery management systems, vehicle intelligence services, chargers and instrument clusters. Its plug-and-play service integrates into electric vehicles’ OEMs. It is currently offering these services to electric two-wheelers, three-wheelers, forklifts and tractors.

According to its website, the EV startup will soon begin offering motor controllers and fleet management for electric vehicles. 

In October, the EV startup secured $5.2 Mn in its Pre-Series A funding round from Tiger Global, Blume Ventures and other angel investors. The startup said it powered 5K EVs to date and aims to power more than 500K electric vehicles by 2025.

In 2019, it secured $300K in its seed funding round led by Tessellate Ventures.

_______________________________________________________________________________________________

48. Yulu

• Founded In: 2017
• Founders: Amit Gupta, RK Misra, Naveen Dachuri, Hemant Gupta
• Funding Raised To Date: $27.4 Mn
• Investors: Blume Ventures, 3One4 Capital, Wavemaker Partners, Incubate Fund India, Grey Cell Ventures, Bajaj, Rocketship
• Headquarters: Bengaluru

Yulu offers sustainable mobility solutions and charging infrastructure. The startup uses IoT, ML and AI for demand-supply management and efficient operations. It manufactures three EVs – Yulu Miracle for urban commuters, Yulu Move for short-distance commutes, and Yulu DEX for commuters carrying goods. Besides this, it offers rental services to commuters for up to 90 days in a few Indian cities, including Bangalore, Delhi, Mumbai, Ahmedabad and Pune. 

It is currently operating in cities like New Delhi, Bengaluru, Mumbai, Pune, Ahmedabad and Bhubaneswar in India. In November 2021, it reportedly started a wide network of battery and swapping stations – Yulu Max Network. 

In December last year, it reportedly raised $7 Mn in a debt funding round from Magna International INC through non-convertible notes. It has secured a total funding of $27.4 Mn to date. It claims to have swapped 3 Mn batteries to date and will expand its fleet to 100K units by the end of 2022. It further aims to start a franchise model and offer services to individual buyers over the next year.

_______________________________________________________________________________________________

49. Zypp Electric

• Founded In: 2017
• Founders: Akash Gupta, Rashi Agarwal
• Funding Raised To Date: $12 Mn
• Investors: Northern Arc, 9Unicorns, Anthill Ventures, Nanavati Family Office, We Founder Circle, Riso Capital Fund, Dholakia Ventures, Venture Catalysts, IAN Fund, Tarun Saraf, Rahul Khera, Arjun Seth, Mark Joseph
• Headquarters: Gurugram

Zypp Electric offers B2B delivery and shared mobility services to consumers. It provides electric scooters for last-mile delivery to more than 50 companies, including Zomato, Swiggy, BigBasket, Amazon, Flipkart, Myntra, PharmEasy, Delhivery, and Spencers, among others. 

Earlier, it had shared that with 6,000 electric vehicles on the road, it helped its partners complete more than 5 Mn deliveries in the financial year 2021-22.

In September 2021, it bagged $7 Mn in a Series A funding round led by 9Unicorns and Anthill Ventures. 

It has a headcount of 400 employees and plans to double its employee base by September 2023. 

This is a running article, we will keep adding more names to the list.

Last updated on July 15, 2023

The post 49 EV Startups That Are Helping Keep The Earth Healthy And Clean appeared first on Inc42 Media.

Mumbai transport authorities have reportedly raised red flags against four cab aggregators, including Ola and Uber, for flouting certain provisions of the union government’s Motor Vehicle Aggregator Guidelines, 2020.

“The companies are not complying with the guidelines pertaining to payment of security deposit, installation of simulators for driver training, driver medical check-up, and certificates of drivers, among others,” a transport official told PTI.

Subsequently, the Mumbai Metropolitan Region Transport Authority (MMRTA) has roped in the state government for ‘guidance’ after the former undertook checks to see if the ride-hailing apps complied with the norms. 

The decision to take the state government into the loop came during an MMRTA meeting chaired by the Maharashtra transport secretary, who also heads the agency. During the meeting, the senior official directed the MMRTA to seek the state cabinet’s counsel on the matter.

Per the report, the MMRTA has now issued a diktat that all such licence applications be now routed through the state government for guidance.

It is pertinent to note that the Supreme Court, earlier this year, directed all app-based aggregators to apply for a licence by March 6 to operate in Maharashtra. Nearing the expiration of the deadline, the MMRTA granted provisional licences to ride-hailing apps, provided they comply with the centre’s mandates. 

As the applicants started trickling in, local officials conducted checks across the region to verify if the players were adhering to the norms. As per the report, all four applicants were found non-compliant with Motor Vehicle Aggregator Guidelines, 2020. 

While, Uber India and ANI Technologies, the parent company of Ola, applied for cab aggregator licence at Tardeo RTO, two other players, namely Cab-age Infra Tech and Media Miles, submitted their applications at Wadala RTO and Thane RTO, respectively.

This comes a couple of months after the Maharashtra government constituted a six-member panel, under the chairmanship of retired additional chief secretary Sudhir Kumar Shrivastava, to frame the Maharashtra Motor Vehicle Aggregator Rules to regulate ride-hailing apps in the state. 

While the report of the panel is expected latest by next month, the draft norms could burden the cab aggregators with a slew of norms and obligations to ply on Maharashtra roads. 

Meanwhile, this is not the first time that the state government has sparred publicly with such platforms. In January, the Maharashtra government banned bike taxis in the state and directed the platforms to apply for a licence to operate in the state. 

Following suit, the Delhi government also banned bike taxis later in February, citing customer safety and non-compliance by aggregators. With norms in the offing and state authorities tightening their noose, it remains to be seen what course of action these players will take next. For now, the ball appears to be in the court of the local government. 

The post Ola, Uber In Dock As Maharashtra Authorities Flag Non-Compliance To Licence Mandates appeared first on Inc42 Media.

Mumbai-based fleet-management company Everest Fleet has secured $20 Mn in a funding round led by ride-hailing major Uber.

According to Siddharth Ladsariya, cofounder, Everest Fleet, this funding round will accelerate the company’s transition from being a CNG-dominated fleet to one with CNG and electric vehicles in the next five years. Everest Fleet aims to have 10,000 electric vehicles by 2026 as part of its overall fleet, Ladsariya added.

Meanwhile, the funding marks Uber’s first inorganic investment in India.

Founded in 2016, Everest Fleet claims to operate with over 10,000+ cars currently with presence across metro cities. Currently, it operates in seven cities including Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Kolkata, and Pune.

However, the company plans to expand its footprint to other major Indian cities and new global territories using the fresh capital.

“Helping drivers get easy access to vehicles is a key priority for Uber and this investment will unlock earning opportunities for tens of thousands of drivers across India. Everest has grown its fleet at an impressive pace and has set new industry benchmarks in asset utilization. With the addition of new cars, including electric vehicles, Uber will continue to deliver a great service experience to riders,” Prabhjeet Singh, president, Uber India and South Asia said.

The development comes at a time when Uber is giving a major EV push to its fleets. In February, the company said it would introduce 25,000 EVs in the premium category service on its platform in partnership with Tata Motors.

Further, it signed a Memorandum of Understanding (MoU) with Tata Motors to introduce around 25,000 XPRES–T EVs.

Last month Uber said that it would add 25,000 electric cars on its platform in partnership with fleet providers such as Lithium, Everest and Moove as part of the launch of Uber Green in June. It also revealed its plans to roll out 10,000 electric two-wheelers in Delhi by 2024 along with Zypp Electric, another EV startup.

Also, Uber has committed to offer 100% rides using its zero-emission vehicles by 2040.

With climate change emerging as a major concern over the last few years, governments of almost all countries across the globe have been encouraging the growth of the EV industry.

The Indian government has announced a plan to develop a master app to track real-time availability of nearby EV charging slots. Many state governments such as Delhi, Karnataka, are also pushing EV growth.

The post Uber Leads $20 Mn Funding Round In Mumbai-Based Everest Fleet appeared first on Inc42 Media.

The Supreme Court (SC) on Wednesday (June 7) reportedly adjourned the hearing on the Delhi government’s plea challenging the Delhi High Court’s order staying the notice issued to Rapido till June 9.

The vacation bench of justices Aniruddha Bose and Rajesh Bindal deferred the matter after advocate NK Paul, who appeared for Uber, said that its matter was similar but not listed for hearing on Wednesday, news agency PTI reported.

Paul requested for adjourning the hearing till June 9 and the court agreed to this.

The Delhi government moved the SC last week after the Delhi HC stayed the Delhi Transport Department’s order banning bike taxi services and asked the government to not take any coercive action against Rapido.

Earlier, advocate Manish Vashisht, appearing for the government, sought an urgent hearing on the plea.

The Delhi Transport Department and Rapido have been engaged in a legal battle since the latter banned bike taxi services in the national capital. The transport department said that bike taxis found to be operating in violation of its order would be liable to pay a fine of up to INR 1 Lakh.

In its petition, Rapido contended that the notice to ban two-wheelers carrying passengers on a commercial basis in the capital city was issued without any strong reason. 

The Rapido plea claimed, “The direction issued by the transport department under the impugned notice is ex-facie arbitrary and passed without following due process under law, without providing any reasons for such prohibition.”

It must be noted that the Delhi government came out with a draft motor vehicle aggregator and delivery services provider scheme last month. Under it, the government has proposed to allow bike taxi services only for electric two-wheelers.

This is not the first time that bike aggregators are involved in a tussle with the state governments. Earlier, the Maharashtra government also banned Rapido and refused to grant it an aggregator licence.

Besides Rapido, Uber and Ola also provide bike taxi aggregator services.

The post Delhi Govt Vs Rapido: Supreme Court Adjourns The Hearing Till June 9 appeared first on Inc42 Media.

The legal sabre-rattling between the Delhi government and bike taxi platform Rapido continues to unfold. 

A week after Delhi High Court (HC) stayed the Delhi Transport Department’s public order banning bike taxi services in the national capital, the Supreme Court on Monday (June 5) entertained the UT government’s plea challenging the HC order.

According to the news agency PTI, a vacation bench comprising Justice Aniruddha Bose and Justice Rajesh Bindal listed the matter for hearing on June 7.

Representing the Delhi government, senior advocate Manish Vashisht contended that the HC’s decision to stay the notified policy amounted to virtually allowing Rapido’s writ petition. 

This comes days after the HC, on May 26, barred the transport department from taking any coercive action against Rapido until specific norms related to the bike-hailing space were formulated. 

The order came in response to a plea filed by Rapido in the HC against an order issued by the Delhi government that banned the ride-bike taxi aggregator from offering its services in the national capital. The public order even warned platforms offering bike-taxi services that violations of the directive would invite a fine of up to INR 1 Lakh. 

The HC is next expected to hear the matter on August 22. Besides, the Bengaluru-based bike taxi has also challenged a showcase notice, issued by the government, citing violation of various fundamental and constitutional rights.

Rapido Mounts Legal Challenge

In its petition before the HC, Rapido argued that the Delhi transport department’s public order was arbitrary and was passed ‘without any reason or rationale’. 

The petition also claimed that the Delhi government’s conduct was ‘contrary to the intent and object’ of the union government concerning norms related to the issuance of licences to ride-hailing platforms. 

“MoRTH (Ministry of Roads, Transport and Highways) Guidelines expressly allowed vehicle pooling in non-transport vehicles in furtherance of the central and state governments’ objective of reducing traffic congestion and automobile pollution and achieving effective asset utilisation unless it is prohibited by the state government,” the plea noted. 

Flagging the lack of guidelines related to bike-taxis in the national capital, Rapido, in its petition, also claimed that the blanket ban on its services in the national capital impacted the lives and livelihood of its drivers and commuters.

Curiously, this comes a week after the Delhi government issued draft norms for bike taxi operators and sought public feedback on the proposed policy. The draft rules propose that bike taxis should only be allowed to ply on the roads on the condition that they be electric vehicles. 

The move could have wide-ranging repercussions on ride-hailing platforms as it could render their entire fleet of two-wheelers non-operational. Besides, the rules also tighten their noose around bike-taxi drivers and impose a slew of conditions for operating such vehicles. 

This is not the first time that ride-hailing companies have publicly sparred with local governments. Earlier this year, Maharashtra banned Rapido and subsequently refused to grant an aggregator licence to the company. 

The post SC Entertains Delhi Govt’s Plea Challenging Stay On Rapido Ban appeared first on Inc42 Media.

In a major respite to ride-hailing apps, the Delhi High Court on Friday (May 26) reportedly stayed a previous public notice issued by Delhi Transport Department that effectively banned bike taxi services in the national capital. 

As per the Economic Times, a bench comprising Justices Suresh Kumar Kait and Neena Bansal Krishna set aside the public notice and show cause notice issued by the transport authorities in February 2023. Besides, it also directed the Delhi government to file its response on a plea moved by Rapido in connection with the case. 

The HC also directed the department to not take any coercive action against Rapido until specific norms related to the space are formulated.

“The Hon’ble High Court has ordered that no coercive steps shall be taken by the concerned authorities in the Delhi NCT against Rapido bike taxis and its riders until requisite regulation to regulate the operation of bike taxis is notified by the government,” said a counsel for Rapido.

In a separate order, the HC also granted protection to Uber in response to a plea filed by the US-based ride-hailing giant.

Representing Rapido, advocate Abhishek Awasthi welcomed the decision and said that the HC’s order will prevent ‘undue hardships’ faced by its drivers due to challans issued by the local transport department. 

Rapido’s Contention

The HC directive comes a few months after Delhi’s transport department in a sweeping order in February 2023 banned all players from offering bike taxi services in the national capital. It also announced a penalty of INR 1 Lakh on aggregators found flouting the order. 

In a plea filed before the Court, Rapido claimed that the transport department’s diktat banning bike taxis was passed without any reason or rationale. Challenging the show-cause notice, Rapido, in its plea, claimed that the order violated various fundamental and constitutional rights and infringed principles of natural justice.

“The direction issued by the transport department under the impugned notice is ex-facie arbitrary and passed without following due process under law, without providing any reasons for such prohibition,” Rapido’s plea claimed. 

The bike taxi platform also claimed that the Delhi government’s conduct on the issuance of licences to aggregators was in direct contrast with the intent and object of the Centre. Rapido also claimed that a blanket ban on its services in the national capital impacted the lives and livelihoods of a huge number of its delivery executives and daily commuters.

The relief from the HC coincides with the Delhi government releasing a draft set of guidelines for bike aggregators under the ‘Draft Delhi Motor Vehicle Aggregator and Delivery Services Provider Scheme’. The proposed rules were published on May 24 and have been opened up for public feedback. 

While the HC order allows bike aggregators to freely ply on the roads, the rules framed by the Delhi government impose the caveat that all bike taxis operational in the national capital should only be electric vehicles. 

The new draft rules could easily render the existing bike taxi fleet of Rapido, Ola and Uber illegal while these could be forced to spend heavily on the electrification of their fleet. 

Not just the aggregators,  industry body Internet and Mobile Association of India (IAMAI) has also reportedly come out in favour of these players and has urged the Delhi government to not penalise drivers and bike taxi aggregators. 

Apart from Delhi, ride-hailing apps have also run into trouble with other state governments. In recent months, the Maharashtra government refused to grant an aggregator licence to Rapido while the Karnataka government also barred app-based platforms from operating auto-rickshaws in Bengaluru.

The post Rapido, Ola & Uber Get A Breather As Delhi HC Stays Delhi Govt’s Ban On Bike Taxis appeared first on Inc42 Media.

Digital logistics startup Agraga has raised INR 70 Cr (around $8.51 Mn) in a Series A round led by IvyCap Ventures, with participation from Alteria Capital. The startup stated that the funds will be used for expanding operations across India from its current presence in three cities to more than 15 cities by March 2024. 

Agraga aims to strengthen its technology stack to offer end-to-end solutions globally and improve integrations with asset partners such as ocean/air carriers, warehouses, transporters, and customs departments. Further, Agraga also aims to resolve the challenges that come in the way of deliveries with multiple intermediaries, to enable better turnaround time digitally via its platform. 

Co-founded by Venkatesh Narayanaswamy and Anoop Raghavan, Agraga commenced its operations in 2021. It offers services including rail and road transport, ocean and air freight, warehousing, customs, insurance, and finance. According to the startup, the digital ecosystem is equipped with data analysis, partner integration, product curation, and optimising supply chains to provide bespoke and adaptable solutions that cater to the exclusive needs of every customer.

Agraga claims to have 200 customers in the enterprise and MSMEs segment, while it has more than 500 digitally connected partners. 

In the coming years, Agraga plans to penetrate deeper into the emerging markets of ISC and SEA regions in the cross border and contract logistics domain. It aims to achieve this goal by offering a state-of-the-art digital ecosystem to the MSMEs and enterprises enabling them to take their logistics operations to the next level.

Commenting on the investment, Vikram Gupta, founder, and managing partner, IvyCap Ventures said, “Their platform leverages technology to provide a transparent, streamlined, and cost-effective approach to the supply chain ecosystem, and we are excited about their vision of transforming the global logistics industry.”

Further adding to this, Narayanaswamy said, “The Indian government’s target to increase exports to USD 2 trillion by 2030 reinforces this point. To achieve this objective, technology will be a critical enabler, and Agraga’s advanced technology stack is well-equipped to support this endeavor.”

He further added that Agraga’s delayered supply chain offers significant cost benefits, while its streamlined process minimises the coordination and monitoring efforts required by the customers. 

“As we continue to expand our national and global presence and maintain our low-touch model, Agraga has the ability to provide scalable solutions to thousands of MSMEs. Ultimately, our mission is to deliver a world-class experience to our customers and partners worldwide, while creating long-term value for our stakeholders,” Narayanaswami added. 

BlackBuck, XpressBees, FarEye, Ecom Express, etc are some other enterprise logistics providers that are operating in India.

The post Logistics Startup Agraga Raises INR 70 Cr To Resolve Multiple Intermediary Deliveries appeared first on Inc42 Media.

Digitalisation is revolutionising the way businesses operate within industrial value chains by using Internet of Things (IoT) technologies, predictive analytics and intensive data exchange. Application of technology on its own is not enough, as transitioning to an advanced business environment requires each industry to evolve, automate, and become more efficient to survive the competitive market. In order to achieve this, industries have rapidly started moving existing processes into digital technologies, from payments to online payments and from commerce to ecommerce. 

Online shopping has become the norm for consumers worldwide, thanks to the declining cost and increasing availability of smartphones with high-speed connectivity. However, this growth has also brought many challenges for businesses, particularly in terms of logistics and shipping. The lack of a streamlined logistics infrastructure to efficiently handle the high volumes was one of the key challenges. This is where ULIP has played a crucial role in enabling EoDB (Ease of Doing Business) for the ecosystem.

Understanding ULIP 

ULIP, or the Unified Logistics Interface Platform, is a government initiative under the PM Gati Shakti Scheme aimed at democratising the information available in various government systems for a transparent and competitive logistics ecosystem. It is a one-stop shop that enables businesses to access a variety of logistics services such as shipping, warehousing, and transportation. The platform offers a standardised interface that provides real-time visibility into shipments, automates processes, and enables collaboration between all parties involved in the logistics chain. 

By providing a common platform for all logistics service providers, ULIP has created a level playing field for businesses of all sizes. This has encouraged competition and innovation in the ecommerce industry, leading to better services and lower costs for businesses. It has also made it easier for businesses to access logistics services, particularly in remote areas where logistics infrastructure is limited.

How Does It Translate For The Sellers In India? 

For the sellers, ULIP provides an opportunity to streamline their operations and offer a better experience to their customers. One of the key benefits is increased transparency and visibility into shipments. The platform allows sellers to track their shipments in real-time, enabling them to plan their operations more efficiently. Knowing where their shipment is and how long it will take to reach the destination would allow sellers to communicate better with their customers. An improved customer experience enables sellers to build a community of loyal consumers. 

Another key benefit is automation. The platform helps automate many of the manual processes involved in logistics, such as documentation and invoicing. The integration of automated processes would enable the sellers to save time and capital by decreasing the likelihood of human errors. Hence, sellers would be able to focus more on value-added services, such as improving their product offerings and marketing strategies.

To provide transparency and visibility into shipments, ULIP has a dedicated portal that makes the process of data requests simpler, smoother and faster. For example, it enables logistics providers to access shipment data in real-time, which helps them proactively address any issues that may arise during transit. ULIP also provides a single-window interface for all logistics-related services such as customs clearance, transportation, and warehousing. This simplifies the logistics process for Indian merchants and reduces the time and cost involved in managing logistics operations.

Why ULIP Is The Way Forward For India’s Logistic Sector

By assisting in decision-making regarding the best use of logistics modes, ULIP will facilitate structured planning while also saving money and effort for businesses. Through ULIP, the government aims to empower industry players with better sources of income generation while also eliminating monopolies and unequal advantages. In addition to improving the global logistics indices of India and the logistics cost percentage of GDP, achieving positive outcomes at the granular and individual levels will have a significant positive effect on the overall logistics sector of India.

ULIP has truly transformed the logistics industry by streamlining operations, improving efficiency, and providing a better experience for all players involved, including sellers, buyers, and logistics providers. By leveraging advanced technology and data analytics, the platform has created a more transparent and integrated supply chain ecosystem that benefits all stakeholders. With the aim of enabling ease of doing business for the ecommerce ecosystem, ULIP has the potential to power India’s $5 Mn GDP by 2025.

The post Democratising Logistics: ULIP’s Role In Revolutionising India’s Supply Chain appeared first on Inc42 Media.

Businesses, from retail to ecommerce, are rapidly evolving their operations in response to changing market dynamics and heightened consumer expectations. Online purchases continue to witness a massive surge, and agile last-mile deliveries are now the norm. Consequently, brands now seek innovative ways to capture this opportunity by meeting steep consumer demands around delivery timelines and exceptional post-purchase consumer experiences.

It would seem ideal to meet these expectations through the control one has over an in-house fleet. However, many businesses find in-house fleet management challenging due to the high capital investment, regular maintenance, operational costs, and compliance and regulatory risks. Thus, outsourced fleet management is gaining prominence as it allows businesses to focus on their core strengths and strategic growth. Let’s understand why outsourced fleet services are a boon to businesses and how they can simplify last-mile deliveries with agility and efficiency.

Why Do Businesses Need Outsourced Fleet Management?

Businesses with a captive fleet have to manage many facets of deliveries for consumers shopping online, of which fleet management is one part. Devoting internal teams to fleet-related functions such as fleet maintenance, vehicle tracking, driver management, fuel management, and route optimisation may cost them time and money that could be better used for growth elsewhere. In such cases, outsourcing fleet management can help them improve fleet utilisation, reduce downtime, and increase driver productivity while also leaving the details to experienced professionals.

As modern customers want an exceptional quality of post-purchase experience, fleet management companies are helping businesses bring flexibility and convenience through diverse fulfilment options and timeframes, providing real-time visibility to their customers, and sharing various communication channels that ensure that customers are in the loop at all times. This can be seen in the demand for such services. Based on a MarketsandMarkets report, the global fleet management market will likely generate $52.4 Bn revenue by 2027, compounding at a 15.5% CAGR from 2022. 

How Can Businesses Benefit From Outsourcing Fleet Management?

Third-party fleet management providers have extensive experience and proficiency in fleet maintenance. They implement proactive maintenance schedules, monitor vehicle performance, and ensure timely repairs and replacements to minimise suspension, reduce breakdown risks, and improve the overall reliability of their fleet. 

Additionally, they have robust regulatory programmes, monitoring compliance in real-time and providing timely insights into safety, emissions, and other aspects of fleet operations so logistics companies can avoid penalties, fines, and other unwanted legal liabilities.

Driver management is another crucial aspect of fleet operations, as driver performance can significantly impact the efficiency and safety of the fleet. Outsourced fleet management providers can implement driver training, monitor driver behaviour, and provide feedback and coaching, helping logistics players improve driver efficiency, reduce accidents, and ensure compliance with company policies and regulations.

Moreover, they typically use advanced route optimisation algorithms to reduce mileage, improve on-time delivery, and curtail fuel consumption and transportation costs. They can also implement fuel-saving strategies such as planning routes, reducing idling time, and implementing eco-driving techniques to reduce fuel costs, lower emissions, and improve sustainability.

How Can Fleet Automation Streamline On-Time Last-Mile Deliveries?

Nowadays, many fleet management companies are moving past problems of reduced visibility, hindered communication, and rising average delivery costs by automating key last-mile operations with the help of technology solutions such as dispatch management platforms.

A real-world dispatch management system can transform last-mile logistics operations with route optimisation, live tracking and optimal resource utilisation across multiple fulfilment channels. They use leading-edge technologies such as machine learning, GPS tracking, and data analytics to monitor and analyse fleet operations in real time. Furthermore, they automate functions like order capture, allocation, sorting, returns, and failed attempts to make every delivery more efficient than the last.

These solutions empower the on-field workforce to decide and act on route changes, get updated on order cancellations in near real-time, and collect proof of delivery to provide an elevated customer experience. They also explore dynamic avenues of customer delight with real-time communication, updates, and feedback to keep customers returning for more.

Fleet automation platforms help logistics providers uncover hidden inefficiencies with advanced analytics and meet operational needs with strategic planning. They offer power delivery experiences to end-users with minimal carbon emissions, presenting a sustainable way of business growth.

Conclusion

New-age logistics platforms are developing relevant solutions that cater to industry demands through an outside-in approach. As the pressure to deliver goods faster, cheaper, and with better customer service rises, outsourced fleet services gain a competitive edge in managing fulfilment capabilities and procuring a holistic view of all fleet types through a single interface. 

A fleet automation system provides end-to-end support with integrated order processing, agile last-mile services, increased visibility, and sustainable fleet management so that businesses can streamline their daily dispatch operations with greater efficiency and reduced costs.

The post Outsource Or Not? How Startups Can Streamline Fleet Management appeared first on Inc42 Media.

In another shocking incident involving a Rapido driver, a woman leapt off a moving bike to avoid an alleged molestation bid in Bengaluru. The incident took place just minutes away from the bike taxi startup’s headquarters in the city. 

The incident which was caught on camera took place on April 21 in the vicinity of the city’s Yelahanka New Town Police Station. A 27-year-old native of Andhra Pradesh has been apprehended in connection with the case

Inc42 has reached out to Rapido for a comment. This story will be updated with the comment when it is received. Meanwhile, sources told Inc42 that the ride-hailing platform has launched a probe into the matter. 

Police officials told IANS that the victim boarded a Rapido bike just before midnight to reach a friend’s place in Indiranagar. During the ride, however, the driver began sexually harassing the victim and even took the woman’s phone under the premise of getting the OTP. 

Later, when the accused deviated from the set route, the victim questioned him and it was then that he sped the bike. Sensing trouble, the woman jumped from the vehicle near BMS College in Yelahanka’s Nagenahalli, and, afterwards, the security personnel at the college gate rushed to help the victim. Meanwhile, the accused allegedly fled the spot but was later nabbed by the cops. 

In the ensuing melee, the girl reportedly suffered multiple minor injuries. The victim then borrowed a mobile phone from a passerby and alerted family and friends about the incident. 

Afterwards, the police were informed, which obtained CCTV footage of the incident. A preliminary probe into the incident revealed that the accused was inebriated at the time of the incident, and further probe into the case is currently underway. 

Meanwhile, the clip of the incident has gone viral on social media in which a woman can be seen jumping off a fast-moving bike. After falling to the ground, the woman can be seen immediately getting up and running to the other side of the road frantically. The bike driver, on the other hand, can be seen taking a brief halt before fleeing the spot. 

Rapido Under Fire Over Women’s Safety

The incident adds to the growing list of women’s safety-related incidents involving Rapido drivers. In November last year, two persons, including a driver working with a bike taxi startup, allegedly raped a 22-year-old woman from Kerala in Bengaluru. 

While Rapido later claimed that it had delisted the driver from its platform, it subsequently came to the fore that one of the accused also had a criminal case registered against him in the past. 

While it claims to have a ‘zero tolerance policy’ towards violence or indecent behaviour, many have repeatedly complained that getting in touch with Rapido’s customer care executives, post the completion of the ride, is a cumbersome task. 

This is not the first time that ride-hailing platforms or consumer-facing startups have landed in hot waters over women’s safety. 

In January, a female Uber driver was allegedly attacked by unidentified men near Delhi’s Kashmere Gate. Despite multiple frantic calls and failed attempts at activating the panic button, the victim’s calls for help to Uber went unheeded. 

As if this was not enough, a delivery partner with the quick-commerce platform Zepto was arrested for allegedly molesting a woman in Mumbai in December last year. 

Women’s safety has been a key issue guiding Karnataka and the Delhi government’s proposal to ban bike taxis in their respective regions. 

The latest incident has cast a spotlight on the growing bike taxi ecosystem and the rising instances of molestation involving the platforms’ drivers. With the space expected to balloon over the next few years, questions have also been raised over such startups in dealing with these horrific cases.

The post CCTV Captures Rapido Driver Molesting Bengaluru Woman appeared first on Inc42 Media.

“Leaders are not born; they are made. And they are made just like anything else, through hard work.”

When legendary American football coach Vince Lombardi came up with this statement – often a hotly debated topic in B-schools – little did he foresee how many startup founders across the globe would consider it an indisputable truth.

Consider this. India is now home to the third-largest startup ecosystem, with more than 57K tech startups launched to date. Together, they raised $130 Bn+, while the country saw as many as 108 startups achieve unicorn status (billion-dollar valuation) and 102 soonicorns (read potential unicorns) waiting in the wings. Yet, many of these startup founders took a leap of faith when bitten by the entrepreneurial bug and hoped that leading a company could be done if one had the passion and the core skills.

The ground realities are different, as founders like Dhruvil Sanghvi will tell you.

Crafting a business vision, hiring the right people to implement it or defining a company’s culture requires many iterations before startup founders can perfect the art. Meanwhile, they will have to learn on the job just like Sanghvi did, said the founder and CEO of the logistics SaaS startup LogiNext.    

“Personally, I have gone through big changes in my management style because on Day One, I had none,” said Sanghvi. “I struggled for two-three years to find that sweet spot and develop it.”

Watch Dhruvil Sanghvi, founder and CEO of LogiNext, in conversation with  Verlinvest’s venture lead Arjun Vaidya, as the former unravels key founder lessons when it comes to hiring, along with defining and developing a startup’s values, culture and structure as the company scales.

Recounting the early days when he worked with a small team (10 employees or fewer), Sanghvi said, “It isn’t about managing them but working with them because they are practically your cofounders as you are doing everything from scratch.”

According to Sanghvi, if a founder tries to micromanage employees, they start treating him/her as a manager or a boss and may get demotivated.

“On the other hand, you want them to be their own bosses so that they bring more to the table,” he observed.

His strategy has worked well. Built from the ground up, LogiNext, a full-stack logistics SaaS startup founded in 2014 by Sanghvi and Manisha Raisinghani, has gone from strength to strength. The startup has forayed into major sectors, including retail and ecommerce, F&B, consumer goods and more, and claims to have onboarded 200+ reputed companies such as McDonald’s and Decathlon.

But there’s more to it than people management. 

When the company was scaling up, and tasks abounded (which essentially meant delegation of work), Sanghvi learnt how difficult it was to let go of certain responsibilities he used to handle.

“It feels very scary on Day One because you feel like you are losing control,” he recalled. “But eventually, you become good at delegating work and learn to be comfortable letting someone else take certain decisions.”

But founders must be watchful while doing this. Being too trusting has its pitfalls , too. 

“That’s when I learnt the art of trust but verify,” said Sanghvi.

Although founders want to (and should) trust their team members, they must not do so blindly. Instead, they should guide people and consistently keep a check by applying the right metrics. 

For example, one can start with a weekly cadence, letting employees know when it will be held and in what format, before converting it into a monthly routine.

Sanghvi also emphasised the need to be direct without being disrespectful. 

“When you are with your family or friends, you don’t wonder whether you are too direct or rude. It is because you know the right boundaries. Interactions among peers or team members and their managers must be like that at every level of the organisation,” he said.

A great way of doing this is through team engagement activities such as offsites or workcations (team outings mixed with learning and development sessions).

“These offsites and team-bonding activities have given our organisation the highest ROI in terms of time and money spent,” said the elated founder.

But there is a serious side to these activities, as LogiNext regularly holds carefully crafted training and awareness sessions for all.

“These are held around important aspects of the SaaS business such as gross margin and recurring revenue so that people understand what they are meant to optimise,” said Sanghvi. “When there is complete clarity, they will naturally build products and go-to-market strategies to attract better quality revenue.”

Asked about the impact of the funding crunch and mass layoffs, Sanghvi said fear and doubt prevailed across the Indian startup ecosystem, and campus hiring took a hit. 

“There is a sudden drop in the number of students applying for startup jobs, but that’s not the case in the corporate space. Startup opportunities used to be the hottest across campus before 2022,” he rued. 

For context, startup investments in India tanked 81% YoY to $693 Mn in February 2023. More importantly, 78 Indian startups collectively laid off nearly 23K employees since last year, according to Inc42 data.

With the Indian SaaS market projected to reach a $1 Tn opportunity by 2030, emerging startups should bolster their ranks with candidates who are well aligned with those organisations’ business goals, vision and values.

Quizzed about the potential candidates sought by his company, Sanghvi said it would try to bring in people with a capital-efficient mindset.

“We avoid hiring people who never had to worry about costs or always worked in a high-perks/crazy salary environment,” said Sanghvi.

Because frugal innovation is the core of the company culture, and people with different expectations may not be a cultural fit at LogiNext, he concluded.

The post Trust But Verify: How LogiNext’s Dhruvil Sanghvi Moulded His Management Style appeared first on Inc42 Media.

The Indian shopper’s growing appetite and penchant for online shopping have led to structural changes in the retail sector — as is evidenced by the growth of India’s ecommerce industry. A close look at statistics shows that the ecommerce market is estimated to reach $400 Bn by 2030, growing at a CAGR of 19%.  This unabated growth is being driven by the D2C sector, which is pegged to $300 Bn by 2030 and accounts for 70% of the ecommerce industry’s total market share. D2C brands have an earmarked style and approach, much of what has led to their rise in recent years. The formula is simple: reach customers through your own website, leverage all user touchpoints and scale your offline footprint through brick-and-mortar retail. Briefly put, be where the customer is. 

Riding this formula, brands like Mamaearth, Licious and boAt have scripted their D2C success stories. But it is not a cakewalk for the new-age D2C brands, especially as they face stiff competition from deep-pocketed players. 

For starters, ecommerce marketplaces like Amazon and Flipkart are still the preferred choice for online shoppers due to product variety, fast and free deliveries, hassle-free purchases and satisfactory post-purchase experience. Given their widespread popularity and reliability, many D2C brands leverage marketplaces as their primary channel for selling products online. 

On the other hand, discovering new brands and their independent websites/apps remains a challenge for retail consumers unless those companies have done some big-bang marketing to grab eyeballs. More importantly, can they provide the same level of gratification as their storied competitors to earn long-term customer loyalty?  

According to Umair Mohammed, founder and CEO of the martech platform Wigzo, customer engagement is key to achieving growth. “Retaining an existing customer is seven times less costly than acquiring a new one. So brands need to opt for the right customer-centric approach.”

Set up in 2014, Delhi-based Wigzo is on a mission to empower early and growth stage D2C brands as it provides personalised customer journeys through data analytics and marketing automation for gaining good traction. 

The startup claims to have worked with more than 1K ecommerce brands, including many acclaimed D2C brands like Forest Essentials, GIVA, W for Woman and Libas. The company claims that its marketing solutions have enabled many brands to increase their gross merchandise value (GMV) by 20-26%.

How Wigzo’s Tech Stack Improves Conversions, Boosts Sales

Ask any industry expert what hinders ecommerce conversion and most will point to high rates of shopping cart abandonment. According to Statista, nearly 80% orders were abandoned, much higher than the industry average of 69.57%, based on Baymard Institute’s 2019 research. Although brands can never completely eliminate this risk, some timely strategy and process optimisation can certainly lower the abandonment rate and generate more revenue. 

This is where Wigzo’s suite of solutions comes in handy.

The startup leverages the power of multichannel engagement and helps brands reach their target audience on popular communication platforms like SMS, WhatsApp, email and FB messenger. It helps them send behavioural nudges to retarget customers and enhance customer engagement across the purchase journey. Using its offerings, brands can increase the customer lifetime value as well as the average order value, Wigzo claimed. Further, it said that brands can expect to grow their business up to 15x. 

The startup leverages the power of mobile-friendly communication channels such as SMS, WhatsApp and FB Messenger to retarget customers and bring them back to the shopping cart to complete their purchases. Using its offerings, brands can grow their business up to 15x, claims Wigzo.

Here is a case in point. During December 2020, silver jewellery brand GIVA struggled to cope with a high cart abandonment rate (read fewer conversions) and low customer engagement and retention on its site. The startup decided to seek Wigzo’s services to improve its overall business efficiency.

Wigzo’s AI-based customer segmentation helped GIVA bucket customers based on how recently the customers visited its website, their frequency and monetary value. This information helped the jewellery brand create hyper-personalised messaging campaigns. To address cart abandonments, GIVA leveraged Wigzo’s customer mapping feature to track real-time customer behaviour and send automated emails to customers who added products to the cart but did not buy them. Wigzo claimed that this helped the brand reduce cart abandonments and recover lost sales. 

Improving the website conversion rate and engaging with the website visitors in real-time proved to be fruitful for the brand. With the help of Wigzo’s personalised onsite and push notifications, GIVA was able to engage with website visitors in real-time. Further, it was able to send personalised product recommendations and information about the new product launches and offers, in turn, driving conversions. 

“Today, ecommerce companies are inundated with data. The information flow is massive and complicated. But this data will be useless unless ecommerce store owners utilise it to coordinate their operations,” said Mohammed.

With the help of Wigzo’s tech stack, GIVA bolstered its overall online sales by 55%, experienced a 5% increase in conversions through onsite notifications and a 3% growth in conversions through email marketing. Its newsletter subscribers also grew by a whopping 775%.

Personalisation Is The Way Forward

In a tech-driven world where people’s lives and livelihoods are evolving fast, most consumers are willing to experiment and switch brands more frequently. Given this shift in customer mindset, brands can no longer bank on unwavering loyalty in a fiercely competitive ecommerce space. But there is a bright spot. Selling to people through dedicated apps and websites means D2C brands will have full control of customer data and can easily forge a one-on-one relationship with them. 

Also, personalisation across various touch points, including SMS, email, WhatsApp, social media and app/website, will ensure a unique shopping experience. A report by Deloitte pointed out that hyper-personalised marketing, using AI and deep data analytics helps brands maximise revenue, reduce costs and elevate customer experience. 

According to YouGov, 80% of frequent shoppers only shop with brands that provide a personalised experience. USA-based consulting firm Invesp pointed out that 56% of online shoppers are more likely to return to a website that recommends products. 

“Compared to generic marketing, personalised and targeted campaigns can create as much as 760% increase in revenue,” Wigzo’s founder said.

He is also confident that Wigzo can be a growth driver for India’s D2C segment. “D2C is in the midst of tremendous expansion. It is quite likely that this pattern will continue in the years to come. And we aim to be part of this retail revolution,” he added. 

As India’s D2C sector eyes significant growth in the next few years, it will be interesting to see how enablers like Wigzo empower brands by building customer engagement and offering premium customer experience.

The post How Personalising Customer Journeys Can Help D2Cs Clock Up To 15x Business Growth appeared first on Inc42 Media.

Microsoft-backed SaaS logistics startup FarEye saw its standalone loss widen 161% year-on-year (YoY) to INR 153.7 Cr in the financial year 2021-22 (FY22) against a year-ago loss of INR 58.7 Cr. 

The Delhi/NCR-based startup’s revenue from operations surged to INR 101.17 Cr in FY22, up 53% YoY. However, FarEye’s total income jumped more than 64% to INR 131.5 Cr from INR 80.13 Cr in FY21. 

The enterprisetech startup largely earns its revenue from offering software solutions to companies.

The biggest bummer appeared to be the total expenses, which more than doubled to INR 285.2 Cr in FY22 from INR 138.9 Cr in FY21. Of these, employee benefit expenses accounted for a big chunk of expenses. The startup spent INR 164.1 Cr towards employee expenses in FY22, up 85% YoY from INR 88.4 Cr in FY21.

However, it was FarEye’s ‘other expenses’ that caused maximum heartburn for the enterprisetech startup, as they rose 2.52X YoY to INR 116.5 Cr in FY22. 

A breakdown of data revealed that legal services-related payments accounted for INR 59 Cr worth of expenses, while advertising costs rose 157% YoY to INR 8 Cr in FY22. 

It is pertinent to note that FarEye logged a consolidated net loss of INR 232.5 Cr in FY22, up 3X from INR 79.8 Cr reported in FY21. 

Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye offers automation solutions for logistics companies. These enterprisetech offerings enable logistics companies to schedule jobs, monitor execution and analyse performance in real-time.

The startup has so far raised $150 Mn in total funding across multiple rounds, including the mega $100 Mn Series E round in 2021. At the end of FY22, FarEye had more than 150 customers in 35 countries and processed more than 100 Mn monthly transactions. Its network of products catered to 25,000+ drivers and an integrated network of 20 Lakh vehicles. 

Some of its biggest clients include names such as Domino’s Pizza, Gordon, Central Group, and Zalora, among others. 

The mourning losses come at a time when FarEye has been in the eye of the storm for multiple layoffs. In June last year, the startup sacked nearly 250 employees across its India, North America, and Europe offices. 

Eight months later in February 2023, the SaaS startup fired 90 employees in the second round of layoffs, impacting the tech, product, HRBP, and sales verticals. 

The numbers pertain to FY22 and do not include numbers for the ongoing fiscal year, which has seen a host of challenges including the funding winter, worsening market conditions and a squeeze on SaaS spending at the enterprise level. 

Meanwhile, it remains to be seen how well FarEye emerges from the fallout, but, for now, the company’s mounting losses do not paint a rosy picture.  

The post Under Fire For Multiple Layoffs, FarEye’s FY22 Loss Widens 2.6X YoY To INR 153 Cr appeared first on Inc42 Media.

Sequoia-backed intracity logistics startup Porter reported a standalone loss of INR 122 Cr in the financial year 2021-22 (FY22). The startup had reported a net loss of INR 138.8 Cr in FY21. 

However, the loss numbers are not comparable as the FY21 number also included the performance of its “non-profitable” institutional business, which it sold.

“During the previous year, owing to COVID-19 pandemic, the company had reassessed its non-profitable business segment and accordingly approved the sale of its institutional business to a third party,” Porter said in its FY22 regulatory filing with the Ministry of Corporate Affairs.

In FY21, Porter had incurred a net loss of INR 63.9 Cr from continuing operations and INR 74.9 Cr from the business that was discontinued later. Hence, the startup’s loss from continuing operations widened in FY22 compared to the previous fiscal. 

Porter announced divestment of its FMCG modern trade business segment to COGOS Technologies in July 2022. However, Inc42 couldn’t ascertain till the time of publishing this story if the startup was referring to this divestment with the “sale of non-profitable business segment”. 

Meanwhile, Porter’s operating revenue jumped 2.6X to INR 847.7 Cr in FY22 from INR 322.2 Cr in FY21. As a tech-enabled logistics platform, Porter earns revenue primarily by providing goods transportation services and other ancillary services to its customers. 

Total revenue, including interest income, stood at INR 862 Cr in FY22 as against INR 327.9 Cr in the previous year.

Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter claims to provide distance-based allocation, GPS tracking, proactive notifications, and more, to empower its driver partners.

In its FY22 filings, the startup said that it launched operations in new cities, including Lucknow, Jaipur, Indore, Coimbatore, Chandigarh, and Nagpur, during the year to add to Bengaluru and Delhi NCR, where it already had presence.

The expansion was in line with its announcement during its Series E funding round in October 2021. The startup then raised INR 750 Cr in a funding round led by Tiger Global Management and Vitruvian Partners, with participation from Sequoia and Lightrock India, to expand operations to a total of 35 Indian cities by 2023 from 13 cities then. 

Porter is currently present in 18 cities and claims to have over 5 Lakh driver partners.

In line with the expansion, Porter’s employee benefit expenses more than doubled to INR 106 Cr in FY22 from INR 48.8 Cr in the previous fiscal year. While it spent INR 87.5 Cr on salaries and wages, INR 9 Cr was spent towards share-based payments for employees during the year as compared to INR 5.3 Cr in FY21.

Porter spent the highest amount towards vehicle running expenses, which grew 2.5X to INR 786 Cr in FY22 from INR 307.6 Cr in the previous year. Total expenses during the reporting period stood at INR 984 Cr as against INR 391.8 Cr in FY21. 

Advertising and promotional expenses jumped almost 3.9X to INR 27.3 Cr in FY22 from INR 7 Cr in the previous fiscal year. The startup’s IT expenses also grew 72% year-on-year to INR 16.4 Cr during the reporting period.

In its filing, Porter said that it is expanding its operations at a global level and is looking forward to its first international launch in the UAE through its wholly-owned subsidiary Porter Technologies DMCC. 

Recently, Porter announced its Employee Stock Ownership Plan (ESOP) liquidation scheme worth INR 50 Cr for both current and former employees.

Porter competes with the likes of COGOS, LetsTransport, Shift Freight, and Blowhorn. 

India’s highly competitive and fast-evolving logistics space, which has presence of companies like Delhivery, Xpressbees, and Blue Dart, is expected to reach a size of $556.97 Bn by 2027, expanding at a CAGR of 6.28% between 2022 and 2027.

The post Logistics Startup Porter Posts Loss Of INR 122 Cr In FY22, Revenue Grows 2.6X YoY appeared first on Inc42 Media.

The supply chain industry is an essential component of the global economy, with billions of dollars worth of goods flowing through it daily. This industry is a complex and dynamic field that is not immune to unforeseen challenges. Despite the continuous technological advancements and the adoption of innovative practices, supply chain professionals still need to overcome numerous obstacles. 

In recent years, the emergence of artificial intelligence (AI) has brought new hope to the industry, with one technology, in particular, ChatGPT, showing great promise.

ChatGPT is a language model developed by OpenAI, designed to generate human-like replies to natural language queries. It is trained on vast data, recognising patterns and generating highly accurate and contextually relevant responses. Within a few months of its launch, the platform attracted over 100 Mn users to sign up. ChatGPT has already shown tremendous potential in different industries, from healthcare to finance, and it is now poised to revolutionise the supply chain industry.

How Can ChatGPT Streamline Supply Chain Operations?

ChatGPT enables accurate demand forecasting, improved inventory management, and optimised supplier relationships to enhance supply chain operations. API integration to the data sources, such as enterprise resource planning systems, customer relationship management platforms, inventory management software, and other relevant applications, can provide the necessary data to ChatGPT for analysis.

Through analysing customer data and market trends, ChatGPT can predict customer demand, allowing companies to make better inventory management and production planning decisions. Another area where it can improve supply chain operations is supplier management. By analysing data on supplier performance, ChatGPT can pinpoint areas where suppliers can improve their delivery times, quality, and pricing.

The Impact Of ChatGPT On Supply Chain Transparency & Visibility

ChatGPT can significantly impact supply chain transparency and visibility by using its natural language processing capabilities to analyse and interpret large amounts of data across the supply chain. On top of that, it can help increase supply chain visibility by using its ability to understand and extract information from unstructured data sources such as emails, invoices, and customer feedback. 

By analysing this data, the AI can identify potential bottlenecks or inefficiencies in the supply chain and alert relevant stakeholders, such as suppliers, manufacturers, and distributors.

Furthermore, ChatGPT helps improve supply chain transparency by providing real-time updates on the location and status of goods in transit. By integrating with various sensors and IoT devices, ChatGPT can track the movement of goods and monitor their conditions, such as temperature and humidity levels, ensuring that they are stored and transported in optimal conditions.

The Potential Challenges & Limitations 

One potential challenge is data quality. ChatGPT requires large volumes of high-quality data to make accurate predictions and recommendations. Only precise or complete data can lead to correct analyses and suggestions, positively impacting the supply chain. Additionally, privacy concerns may arise if sensitive data is being shared or accessed by ChatGPT.

An additional obstacle arising from using ChatGPT is the requirement for human supervision. Although ChatGPT can proficiently analyse and interpret vast volumes of data and offer valuable insights, it cannot independently make decisions or carry out actions. Consequently, human oversight is indispensable to ensure that the recommendations provided by ChatGPT are in line with the business objectives.

Moreover, it may not be able to fully account for unexpected events or changes in the supply chain, such as natural disasters or supplier disruptions. Human intervention may be necessary to make adjustments and ensure continuity.

In A Nutshell

ChatGPT’s natural language processing capabilities have the potential to revolutionise the supply chain industry by improving communication, enabling better decision-making, and enhancing transparency and visibility. 

While challenges such as data quality, privacy concerns, and the need for human oversight exist, companies can proactively prepare for successful ChatGPT implementation by investing in training programmes and data quality management. Overall, this is a valuable technology to explore for the future of supply chain management.

The post How Startups Can Leverage ChatGPT To Optimise Supply Chain Management appeared first on Inc42 Media.

Logistics is a cost and resource-intensive industry. With rising fuel prices, a shortage of qualified drivers and various other challenges, it is essential for the trucking community to find ways to optimise routes.

Optimisation of routes is the process through which truckers are able to decide which route would cut down the transit time, optimise operating costs, and lead to safer and faster deliveries. There are multiple variables that transporters need to consider such as the vehicle capacity, weight of cargo, congestion on the routes, weather and vehicle condition to name a few.  

Typically, you might think that the shortest route or the fastest delivery speed is the most optimised, but it is not always the case. The key lies in determining a route that reduces drive time, fuel consumption, and other costs and risks. In India, the trucking community is by and large unorganised and is dominated by SMEs and individual lorry owners. 

Moreover, the tendency among drivers is to opt for tried and tested routes which, in most cases, are not optimal choices. This is simply because it is humanly not possible for transport managers to accurately factor in all the elements that can affect a route’s performance. Even if someone tried, it would take them a long time to consistently come up with optimal route planning for every shipment which would be detrimental to timely deliveries.  

However, advanced technology-driven logistics platforms employing sophisticated algorithms and AI make it possible for truckers to constantly reap the benefits of route optimisation.

Benefits Of Route Optimisation

• Faster delivery timelines: Route optimisation reduces on-road time and therefore, improves delivery timelines. Today, there is a need for transporters to ensure quick deliveries across the country. This is where advanced route optimisation tools can help in reviewing the entire delivery process and improve efficiency.
• Economical operations: When efficient technology-driven route optimisation is undertaken, there are fewer hassles such as frequent breaks and fewer diversions. Thus, vehicle owners are able to operate optimally without the risk of over-speeding. This improves the overall mileage and reduces the expenditure on fuel.
• Greater customer satisfaction: Logistics is becoming increasingly competitive, and shippers are now more demanding when it comes to speed of delivery, the safety of cargo, and hassle-free pickups and drop-offs. This is where technology-driven logistics platforms can empower even small-scale truckers to offer features such as real-time tracking, visibility of delivery schedules, digital communication, online payments, feedback, and ratings. Thus, there is greater brand building for truckers and greater confidence and satisfaction among their customers.
• Reducing human errors: Manual route planning is error-prone. Even the most experienced route planner cannot predict traffic jams due to vehicle breakdowns and other unavoidable circumstances. However, with GPS and digital maps, such challenges can be overcome. This leads to improvement in efficiency and reduces the likelihood of human error.
• Real-time visibility: Integration of GPS and maps that illustrate the routes for the driver enables managers to keep an eye on the real-time location and movement of vehicles, keeping the cargo safe. They can also keep a track of speed and time spent on halts to ensure hindrance-free operations.  
• Better vehicle maintenance: Route optimisation reduces drive-time, and with safer as well as regulated driving, there is a reduction of wear and tear of the vehicles. Also, with better route planning and access to a mechanic, spare parts replacement can be done in a timely manner, reducing delays.
• Reduced accident risk: As per the Ministry of Transport and Highways’ data from 2019, India ranked first in the number of road accident deaths across 199 countries and accounts for almost 11% of the accident-related deaths in the world. The truck/ lorry category has the third highest share (12.3%) of total crashes, while trucks and lorries accounted for 5.4% of the fatalities in 2020. With better route optimisation, physical challenges that drivers face like tension, anxiety, and exhaustion due to poor road conditions, stress-inducing factors such as traffic jams and roadblocks, can be avoided. With well-defined routes, there are fewer chances of confusion or driver tiredness, which lowers the risk of an accident.
• Better access to emergency services: Even if accidents occur due to mechanical failures, the weather, natural calamities and other reasons, the safety of the driver and the load transported can be achieved with timely access to trauma care hospitals and road assistance services on the planned routes.  

The Way Ahead

The use of technology to optimise routes, reduce costs and deliver a smoother and more economical experience to shippers separates winners from the also-runs. Even if a trucking operator doesn’t have large enough fleets or financial resources to deploy captive technology infrastructure, the emergence of digital logistics communities enables everyone to reap the benefits. 

Such community platforms allow for access to the latest AI-powered demand-supply matchmaking solutions with timely return load booking, helping in optimising trucking operations and increasing profitability for transport businesses. Recent developments in the logistics sector, including investments in building world-class road infrastructure and focused policy efforts, supporting such tech-enabling community platforms, will go a long way in creating ease of doing business for the Indian trucking community.

The post How Route Optimisation Makes Supply Chain Cost Efficient For Startups appeared first on Inc42 Media.

Ride-hailing major Uber has urged the Delhi government to initiate an industry dialogue and arrive at a solution for the bike taxi ban and the electrification goals for two-wheeler ride-hailing aggregators.

The statement comes days after the Delhi government banned bike taxis, stating that operating private vehicles for commercial purposes violated the Motor Vehicle Act of 1988. The state government also warned of heavy fines if bike taxi aggregators were found to be operating despite the ban.

“Hundreds of thousands of people in Delhi use two-wheelers across ridesharing platforms, accounting for an estimated 20 Lakh trips every month,” said Shiva Shailendran, director of operations at Uber India & South Asia, in a blog post on Friday (February 24).

More than 19 Lakh trips in Delhi NCR were between metro stations, “underscoring the need-gap bike taxis fill in solving for the last mile commute”, he added.

Uber has become the first aggregator which has spoken on the Delhi government’s bike taxi ban.

On Monday (February 20), Delhi’s transport minister Kailash Gahlot said in a tweet that the government is working on a draft aggregator policy that includes two-wheelers, three-wheelers and four-wheelers.

However, speculation is rife that the government would only allow electric two-wheelers to operate as bike taxis in Delhi NCR. In the draft aggregator policy that the Delhi government released last year, it laid down specific mandates for the electrification of the bike taxi fleets.

Referring to the deadline for bike taxi companies to convert 100% of their fleet to electric vehicles (EVs) within two years from the notification of the aggregator policy, Uber said it is necessary to find all possible ways to help shared mobility drivers make the fair and equitable transition while looking for bold and ambitious ways to reach zero emissions target.

“Steep and infeasible EV mandates risk finishing off the sector as we know it. The impact of such a decision on the livelihoods and mobility needs of millions of Delhiites is clear. Transition, after all, is possible only if the businesses are still running,” Uber said.

Uber also highlighted the differences in electrification targets under the draft aggregator policy, which has set a deadline of April 1, 2030, for two-wheeler fleets operating in the ecommerce sector to completely move to EVs.

“Different electrification mandates for ridesharing and delivery sectors, not only lead to inequitable sharing of responsibility but seriously disadvantage the entire industry,” said Shailendran in the blog post.

Calling for the same treatment for two-wheeler ridesharing apps as for delivery and services, Uber said that the electrification timelines for conversion of the fleet should be the same across sectors.

“Uber is ready to commit to the same phased electrification mandates including full fleet electrification timelines as suggested for delivery companies,” it added.

The post Uber India Urges Delhi Govt To Initiate Dialogue On Bike Taxi Ban, Electrification Goals appeared first on Inc42 Media.

Ride-hailing major Uber is reportedly looking to partner with third-party taxi providers to buff up its cab fleet. This is also part of a global initiative to curb the shrinking cab fleets across the world.

The company is talking with private and traditional taxi operators in India to work through its third-party taxi integration service.

Manikandan Thangarathnam, the senior director of mobility and platforms engineering at Uber, told ET that Uber is in talks with a long list of taxi companies to integrate its services. He added that in India as well, there are several companies Uber is in talks with.

The senior official noted that Uber is working through a priority list and India is around the top. “This year you should see some integrations happening,” he added.

Uber’s move to increase the number of cars in its fleet comes days after it signed a pact with Tata Motors to introduce 25,000 electric vehicles (EVs) in the premium category service on its platform.

Incidentally, this is not a new initiative as far as Uber is concerned. It started third-party integrations two years ago and is planning to scale up the taxis from 50 to 500 cities globally. The US-based mobility giant has set a target of onboarding all taxis in the world onto the Uber platform by 2025.

With third-party integrations, Uber seeks to double its growth as it keeps inching closer to profitability. Uber India incurred a net loss of INR 216 Cr in FY22, down 35% from INR 333.9 Cr in FY21.

“This is a quick way for us to enter new markets, new cities where we are not operating,” Thangarathnam was cited by ET as saying about the third-party integrations.

How Third-Party Drivers Work For Uber?

In India, Uber – and other ride-hailing services for that matter – has struggled with an acute shortage of cabs. Post-pandemic, these cab aggregators have struggled to meet demand even more.

Inc42 reported in 2021 that Uber and Ola together had lost as many as 30,000 drivers between September 2020 and May 2021, as a result of drivers struggling to pay EMIs for car loans as the pandemic brought the ride-hailing industry to its knees.

Coupled with rising fuel prices and lesser incentives from ride-hailing companies, drivers have had less and less reason to return. Further, category-specific players have also emerged, including the likes of Rapido for bike and auto taxis, forcing Uber and Ola to also look at the category.

The drivers native to the Uber app are called first-party drivers, while the other taxi drivers are third-party drivers. The company has developed software that would act as an operating system for taxi companies, the same way the likes of OYO and RateGain have done for hotels.

Thangarathram said these third-party taxis help solve the problem of the lack of supply of cars in the past few quarters. Uber plans to initially work with large taxi operators, then move to smaller operators and individual drivers.

The post Uber To Rope In Third-Party Taxi Providers To Beef Up Fleet appeared first on Inc42 Media.