Ola Cabs CEO Hemant Bakshi resigns; company to layoff 200 employees
Ola Cabs' CEO Bakshi leaves, team cut pre-IPO. Ola Electric awaits Sebi nod. ANI profitable in FY23. Bakshi notes Ebitda turnaround, Rs 66 crore loss.
Ola Cabs' CEO Bakshi leaves, team cut pre-IPO. Ola Electric awaits Sebi nod. ANI profitable in FY23. Bakshi notes Ebitda turnaround, Rs 66 crore loss.
Siemens executives affirm India's potential as a manufacturing powerhouse, with a focus on infrastructure development. Leveraging India's talent pool, Siemens aims to drive growth through AI innovation and strategic partnerships in semiconductor manufacturing.
Edtech firms seeing strong demand for courses related to ESG reporting, climate technology, carbon accounting, lifecycle analyses. The edtech platform is seeing an especially high uptick in courses on solar energy, electric vehicles and mobility, global environmental management, and renewable energy technology, he said.
This petition comes after reports of unrest and clashes between auto drivers and bike taxi operators, and a ban on bike taxis was one of the major demands of the auto unions.
Ather Energy is also finalising plans to raise USD 75-90 million (about INR 750 crore) in primary funding from existing investors, according to the people. This underscores increasing investor interest in the company and the mobility segment, they said. New investors are also being approached.
The new fund is called Caret Capital Fund II and it will back pre-Series A startups across three sectors - mobility, distribution, and employment.
Ola expands e-commerce via ONDC, adding groceries and fashion. Uber may use ONDC for diversification. Ola sees profitability with INR 250 crore Ebitda in FY23, revenue grows 58%, loss reduces 65%.
Namma Yatri expands to cab services in Bengaluru with a daily subscription model. The firm previously focused on autorickshaws and introduced a separate cab booking section in the app.
“This whole concept of I'll give everyone subsidy and rely on FAME in some sense is a good place to start. But I think it's also a lazy way to continue going. So I think you'll see a lot more performance-based incentives and production-linked incentives. You will still see incentives but it won't be an easy give-out,” he said.
Zypp Electric seeks USD 40M funding from Tribe Capital for expansion and tech development. Revenue tripled in FY24. Launching USD 250M India fund with Shiprocket's Vishesh Khurana. Raj Snehil Juneja also joins the team.
Ola Cabs to exit UK, Australia, New Zealand. Focus on electric mobility, India expansion. Profitable FY23, revenue growth. Ceasing Australia operations. ANI Technologies, Hemant Bakshi, Ola Electric scooters involved.