A naukri.com initiative
Inc42
3d
167
Image Credit: Inc42
Legacy Giants Ahead In EV Race, Udaan’s $114 Mn Fundraise & More
- Ola Electric has lost its second spot to Bajaj Auto in the electric two-wheeler market, with E2W registrations growing 4% to 96,114 units in May.
- In May, TVS, Bajaj Chetak, and Hero MotoCorp's Vida brand saw growth in registrations, while Ola Electric and Ather Energy experienced declines.
- Ola Electric faced a MoM sales decline for the second consecutive month in May due to losses, regulatory scrutiny, and operational issues.
- Udaan closed a $114 million Series G funding round, with investments from M&G Prudential and Lightspeed Venture Partners.
- Tesla expressed disinterest in manufacturing in India despite the new EV policy allowing OEMs to import certain EVs at a reduced customs duty.
- Aequs filed its DRHP for a $200 million IPO after becoming a public entity, focusing on manufacturing parts for various industries.
- Meesho's shareholders approved the issuance of 411 million bonus shares as it prepares for a $1 billion IPO at a $10 billion valuation.
- Pepperfry is raising INR 43 crore by issuing Series 12A CCPS, while Zepto faced licence revocation in Mumbai due to food safety violations.
- VinFast aims to increase its annual EV production in India to 1.5 lakh units with plans for exports and significant hiring by 2030.
- Snitch, a D2C apparel brand, raised $40 million in its Series B round, led by 360 ONE Asset and other investors.
- ZenStatement, an Indian startup automating financial management for SMEs, offers real-time financial visibility and has processed $10 billion in transactions.
Read Full Article
10 Likes
For uninterrupted reading, download the app