Bike taxi startup Rapido has forayed into the cab segment, currently dominated by Uber and Ola, as it looks to expand its offerings and shore up revenue.

The Bengaluru-based startup is currently testing the response for cab services and has commenced a pilot in Hyderabad. It plans to introduce the services in other cities as well.

“At Rapido, we’re thrilled to share that our test run in Hyderabad for Rapido Cabs is off to a fantastic start. The city’s vibrant market has warmly embraced us, and the positive response is truly heartening. As we navigate our path forward, we are committed to keeping you closely informed about our progress and eagerly anticipate bringing our innovative services to other cities,” a Rapido spokesperson told Inc42.

The development was first reported by TechCrunch.

The publication also reported that Rapido is looking to integrate intercity bus ticket booking within its app in partnership with Zingbus. 

Founded in 2019 by Prashant Kumar, Mratunjay, and Ravi Kumar Verma, Zingbus aggregates buses to offer a standardised intercity travel experience to customers. The Delhi NCR-based startup claims to have partnered with over 70 small and medium size bus companies and connect 300 cities daily with over 350 buses. 

Rapido declined to comment on the partnership with Zingbus.

The development comes a day after it was reported that Rapido has begun rolling out a premium auto rickshaw service, Auto Plus, in Bengaluru.

Founded in 2015 by Rishikesh SR, Pavan Guntupalli, and Aravind Sanka, Rapido operates a platform that connects users with bike taxis. It also offers auto services and peer-to-peer delivery services via Rapido Local. It claims to have a fleet of 5 Mn bike taxis and 7 lakh auto-rickshaws. The startup claims to operate in over 100  Indian cities and have over 25 Mn app downloads, 

While Rapido already competes with Uber and Ola, its entry in the cab segment would further intensify the competition for the companies which currently enjoy a dominant share in the cab services market.

The move to enter the cab segment is likely a move by the startup to grow its top line and user base. It is expected to help it draw new customers and retain the existing customers who might have to choose its competitors for availing cab rides. 

Rapido’s net loss surged 163% year-on-year to INR 439.02 Cr in the financial year 2021-22 (FY22), while revenue from operations doubled to INR 144.77 Cr. 

The post Bike Taxi Startup Rapido Shifts Gears, Launches Cab Services To Take On Ola, Uber appeared first on Inc42 Media.

Ride-hailing startup Rapido has reportedly begun rolling out a premium auto rickshaw service, Auto Plus, in Bengaluru that offers guaranteed cancellation-free rides. 

As per Moneycontrol, Rapido is charging a minimum fare of INR 71 for users availing the Plus service as against the minimum charge of INR 46 for regular customers. While Inc42 could not independently verify the data, both pricing slabs are in contravention of auto fares fixed by the Karnataka High Court (HC) for aggregators. 

In its October 2022 order, the HC barred ride-hailing platforms from charging 10% more than the rate affixed by local authorities, excluding the 5% goods and services tax. (GST). The state transport officials, in November 2021, fixed a minimum fare of INR 30 for the first two km, and the subsequent distance would be charged at the rate of INR 15 per km. 

As per the report, the minimum regular auto fare of INR 46 comprises a ride fare of INR 36 and an additional pickup fee of INR 10. However, the app did not provide a breakdown of the minimum INR 71 fare chargeable to its premium auto customers. A message on the app read that the pickup fee from ‘Auto Plus’ rides is completely passed on to drivers. 

Responding to this, a Rapido spokesperson told the publication that the Auto Plus offering is priced 25%-30% higher than the no-frills regular auto service and the ride fare differs based on various factors. 

“In Bengaluru, the minimum fare for Auto service (what the company calls its regular offering) is INR 30 per km for the first 2 km, with additional charges of INR 15 per km applying thereafter. Auto Plus charges will be 25-30% higher than Auto… Rates may vary based on factors such as time of day, demand, and ongoing promotions or discounts,” said a company representative.

The move has yet again ignited concerns of overcharging by ride aggregators. A similar standoff in October last year led the local transport department to issue a ban on auto rides and direct ride-hailing companies to apply for a separate licence. 

Sticking to their guns, the transport authorities have reiterated that apps are prohibited from charging fares exceeding those mandated by the Karnataka HC last year. 

“Rapido is operating services illegally. They cannot charge more than INR 35 minimum fare for auto rickshaw services. We will book cases against drivers if they charge more,” additional transport commissioner L Hemanth Kumar reportedly said.

Meanwhile, Rapido said that the premium service was first introduced in Hyderabad in September. The offering was eventually rolled out in Bengaluru earlier this month as a pilot initiative to test the ground before full scale launch. 

As per the ride-hailing company, it has so far onboarded more than 10,000 drivers under the Auto Plus initiative in Bengaluru, with plans to expand the service to more than 50,000 drivers. The company touts Auto Plus as an upgraded version of the regular auto service offered by it. The move will enable the startup to shore up reliability, and offer financial incentives to drivers to curb ride cancellations. 

This comes a few weeks after reports surfaced that the Karnataka government was looking at banning carpooling in Bengaluru. While the state transport minister Ramalinga Reddy later rubbished any such reports, he highlighted that none of the carpooling platforms had sought permission from authorities for operating in the city. 

The move almost sparked another flashpoint between cab aggregators and state authorities. As ride-hailing companies continue to be in the dock for purportedly overcharging customers, it remains to be seen what next course of action is adopted by the state authorities. 

The post Rapido Rolls Out Guaranteed Auto Rides In Bengaluru At Steep Prices appeared first on Inc42 Media.

SaaS logistics platform Shipsy has acquired inventory management platform Stockone for an undisclosed amount. 

In a statement, Shipsy said the deal will enable it to expand its product portfolio and leverage synergies with Stockone to scale up its end-to-end logistics platform. The acquisition will also enable Shipsy to optimise its operations and bolster warehousing capabilities. 

In addition, the extended product suite will offer a ‘holistic logistics management experience’ for its enterprise customers from transportation to fulfilment.

“… The move further aligns with our long-term vision to provide scalable, efficient, and automated end-to-end logistics management solutions to our customers, covering warehousing, order fulfillment, and operational management,” said Shipsy cofounder and chief executive officer (CEO) Soham Chokshi.

Chokshi added that the introduction of a new warehouse management system (WMS) and inventory management capabilities will enable the startup to undertake a strategic expansion of its existing product suite. 

Founded in 2015 by IIT alumni Chokshi, Dhruv Agarwal, Himanshu Gupta, and Sahil Arora, Shipsy offers a full-stack SaaS platform for enterprises to manage end-to-end logistics requirements. 

The startup offers AI-powered solutions to help businesses optimise costs, enhance consumer experiences and automate operations. Shipsy claims to have more than 220 enterprise clients under its belt, handle 15 Cr monthly shipments, and track more than 6.54 Lakh containers a month. 

The Gurugram-based startup last raised $23.89 Mn in a funding round led by A91 Partners last year. Overall, the startup has raised nearly $33 Mn till date. 

It counts enterprises and startups such as Udaan, Biriyani By Kilo, Tata Steel, Vedanta, and JSW Steel among its customers. 

Shipsy competes with the likes of Shiprocket, Kale, Pickr, Shipyaari, and Pidge. 

The growing ecommerce penetration and a surge in the logistics space have resulted in the emergence of logistics SaaS platforms that offer end-to-end solutions that help companies maintain efficiency while scaling up operations and processing truckloads.

As a result, more and more enterprises are looking for such products, which has spawned the rise of many startups in the space. This has also captured investors’ attention. As per Inc42 data, homegrown logistics SaaS startups secured $765 Mn between 2014 and February 2023.

Just this month, automaker Tata Motors signed an agreement to acquire 26.79% stake in logistics SaaS platform Freight Tiger for INR 150 Cr at a valuation of around INR 560 Cr. In September, Mumbai-based Kale Logistics bagged $30 Mn in a Series B funding round led by private equity (PE) firm Creaegis Advisors.

The post Shipsy Acquires Warehouse Management Startup Stockone To Bolster Offerings appeared first on Inc42 Media.

In yet another case of harassment of an Uber passenger, a woman has accused a driver of the cab aggregator of sending inappropriate messages after the completion of her ride.

Bhumika Maheshwari, a homeopathic doctor by profession, took to X, formerly Twitter, to share her ordeal, saying the incident left her uncomfortable and raised serious safety concerns.

“On 19/10/2023, I encountered a distressing situation where I received inappropriate messages from one of your drivers after a ride. This incident has not only left me feeling uncomfortable but has also raised serious security and safety concerns,” Maheshwari posted, tagging Uber India. 

Maheshwari called on the platform to take immediate steps to probe the matter and identify the alleged culprit. She also asked the ride-hailing giant to ensure such incidents do not take place and ensure safety and security of passengers is paramount for the company. 

Uber India declined to comment on the matter. In response to the complainant’s tweet online, the company said it was working to address the matter at the earliest. There was no clarity on the steps being taken by the company to resolve the issue.

Later, she said Uber’s security team informed her that the accused was ‘currently’ not on the company’s active driver list.

This is not the first time that the ride-hailing giant has landed in a soup for alleged sexual harassment by its drivers. In June this year, a post on LinkedIn went viral where a woman alleged that an Uber driver flashed her mid-ride in Bengaluru. 

In August, a passenger’s husband claimed that an Uber driver assaulted his wife in Bengaluru after they boarded a wrong cab. Besides, an Uber auto rickshaw driver was also arrested earlier this year after he allegedly tried to molest an IT professional in Pune. In another case involving an Uber driver this year, a female passenger claimed that the ride-hailing company did not respond to her multiple distress calls while being attacked by robbers in Delhi.

Uber is not alone in this. Other ride-hailing platforms from Ola to Rapido have also seen sexual harassment allegations against their drivers. In July, a woman jumped off a moving Rapido bike after the driver allegedly tried to sexually harass her. In March, a woman was allegedly molested by an Ola bike driver in Hyderabad.

The latest case has once again raised questions over the safety of ride-hailing platforms, especially for female passengers, and their background verification process for drivers. 

The post Another Day, Another Incident: Woman Accuses Uber Driver Of Sending Inappropriate Messages appeared first on Inc42 Media.

Gig workers across Pune and Mumbai took to the streets, demanding ‘proper’ labour laws and a set of rules to protect the rights of delivery workers. 

As per Punekar News, gig workers, including drivers with cab aggregators and delivery workers, held a 24-hour strike in Pune on Wednesday (October 18). The cab and auto unions also announced another symbolic strike to press the government for their rights on October 25. 

Meanwhile, in Mumbai, cab aggregators, along with auto and taxi drivers, also took part in a protest earlier today (October 19) at Terminal 2 of Mumbai’s Chhatrapati Shivaji Maharaj International Airport. 

As per reports, the Mumbai drivers are demanding a slew of reforms from the government including:

• Implementation of the Centre’s 2020 aggregator guidelines
• Creation of offices in Mumbai where gig workers can file their grievances
• Framing of rules to protect the rights of delivery workers
• Creation of a welfare board for gig workers 
• Creation of a regularised parking system for app-based taxis near the airport
• Reduction in the penalties levied by traffic police

Meanwhile, the leader of a Mumbai taxi union, Taufiq Shaikh, has warned authorities that the protests will be undertaken yet again if the demands are not met. 

In Pune, gig workers, especially Ola and Uber drivers, have reportedly sought better working conditions, more rights and promulgation of the ‘Cab Aggregators Act’. Maharashtra App-Based Transport Workers Union (MAT) president Prashant Sawardekar told Medianama that the Pune protests were part of a state-wide initiative by a Joint Action Committee of various app-based and regular cab drivers to demand rights from the government. 

President of the Baghtoy Rickshawaala Union Keshav Kshirsagar told Times of India that Maharashtra, despite being home to the largest number of gig workers in the country, was yet to formulate regulations to govern the local gig economy. 

“We demand that these laws be framed in the upcoming winter session and released for the workers. We approached the district administration workers earlier on this issue, but no action has been initiated yet. We will initiate the further course of action if the state government fails,” Kshirsagar added.

As per Baghtoy Rickshawaala Union, the Pune and Pimpri Chinchwad belt accounts for 1.45 Lakh gig workers, including nearly 80,000 cab drivers and 25,000 food delivery workers.

The gig workers in Pune are also protesting the ban imposed by local transport authorities on app-based auto rickshaw services. 

Amid this, the general public suffered in Mumbai as users could not book cabs. On the other hand, Pune residents could neither order food nor book cabs.   

The gig workers are demanding a slew of sops on the lines of what was announced by the Rajasthan government earlier this year, including plans to set up an INR 200 Cr welfare fund and enactment of the Gig Workers Welfare Act.

The post Gig Workers Take To Streets In Mumbai & Pune, Demand Better Wages & Labour Laws appeared first on Inc42 Media.

The National Company Law Appellate Tribunal (NCLAT) has reportedly issued notices to the Competition Commission of India (CCI) and cab aggregator Uber in a plea filed by the latter’s competitor, Meru Cabs.

During the hearing, lawyers representing Meru argued that Uber employed steep discounting practices during 2014-2017, the initial years of its operation in India, which adversely impacted the ride-hailing industry, as per a Moneycontrol report.

The next hearing in the case is scheduled in January 2024.

The Legal Battle

At the heart of the matter is a long-standing dispute between Meru and Uber. In 2015, Mumbai-based Meru approached the CCI, alleging that Uber was engaging in anti-competitive practices.

In its complaint with the CCI, Meru alleged that Uber was charging very low rates for its services. The average market price of radio taxis in Kolkata stood at about INR 20-22 per km before Uber entered the market. 

After introducing its services in Kolkata in 2014, Uber first lowered its service rate to about INR 15 per km, which later dropped further to about INR 9 per km along with driver incentives and customer discounting.

However, the CCI rejected Meru’s plea in December 2015, saying it found no prima facie case against Uber. “The Commission is of the view that the OP Group (Uber) does not hold a dominant position in the relevant market,” it said. 

In 2016, Meru accused Uber of being a ‘law breaker’ and ‘a company which monetises on price-play’. 

Next, Meru took Uber and the CCI to the appellate tribunal, which asked the CCI’s director general (DG) to conduct an investigation into Meru’s allegation. 

However, Uber filed an appeal against this order at the Supreme Court. In 2019, the apex court upheld the tribunal’s order, directing the DG to investigate the allegations. 

On concluding its investigation, the DG filed its report saying Uber was not a dominant player in the market due to competition from Ola and other cab services. 

Following this the CCI dismissed Meru’s plea in 2021. However, Meru approached  the NCLAT against this.

Though the NCLAT presented its view that Uber was a new player in the Indian market during the 2014-2017 period and the law allows new companies to offer such discounts to establish the business, Meru’s lawyer argued that several of Uber’s competitors have either gone out of business or are on the verge of shutting down. 

It must be noted that Meru also filed a complaint against Ola in 2015 with allegations of predatory pricing, which was also dismissed by the CCI.

Meanwhile, both Ola and Uber continue to face allegations pertaining to unfair trade practices and fare-related issues. Last year, the Central Consumer Protection Authority (CCPA) issued notices to both the cab aggregators for alleged violation of consumer rights and unfair trade practices.

The post NCLAT Issues Notice To CCI, Uber On Meru Cabs’ Plea appeared first on Inc42 Media.

Last-mile logistics is the vital link that connects businesses to end customers, a crucial and true differentiator in the supply chain. Though the essence of last-mile logistics has remained constant, the mechanisms have evolved. 

The advent of technology, coupled with the rise of the instant economy, has rewritten the playbook. Horse-drawn carriages have given way to motorized vehicles, and foot messengers to digital notifications. The thread of history, once spun by traditional traders and hawkers, is now woven with algorithms and real-time tracking.

As the pandemic provided a significant momentum boost to ecommerce and aggregators worldwide, the Indian logistics sector witnessed substantial growth too. According to Redseer Consultants, the ecommerce logistics industry saw a growth of over a billion in FY23, and it is projected to maintain a minimum CAGR of over 20%. 

This growth trajectory will see Indian ecommerce cross a trillion dollars before the end of this decade, a crucial piece in India’s journey to being the third-largest economy in the world.

Since all ecommerce must end in a delivery, the successful conversion of a customer’s order into a final delivery can often make or break a business.

There have been significant digitisation efforts for businesses over the past few years, including the rapid adoption of omnichannel business models such as creating digital storefronts to sell on marketplaces and utilising digital payment methods such as UPI and gateways. 

Managing deliveries, especially the intricacies of last-mile logistics and fleet management still remains operationally heavy and highly unorganized. There is a painful digital disparity between the demand and the supply side of businesses.

Despite significant investments in Indian logistics companies, brands are still concerned regarding the reliability of third-party logistics (3PL) partners. Consequently, many businesses have opted to return to employing their own dedicated captive riders.

According to insights from Redseer, the use of captive riders has increased from 48% in 2017–18 to a substantial 67% today. 

The question is: Why is every delivery company bleeding capital? Why are businesses choosing to manage their deliveries internally, even when more options seem to be available? Why does the entire logistics ecosystem operate in layers upon layers, where profitability remains elusive? There are aggregators, followed by 3PL partners who collaborate with regional vendors, who in turn outsource to local manpower suppliers, and eventually, we reach the final rider. Why is unit economics completely broken?

The Indian delivery ecosystem is built on the hypothesis of an abundant supply of low-cost labor, but what if the labor was neither abundant nor low-cost?

Amidst this chaotic landscape of disrupted unit economics, incomplete solutions, and unmet demand, India’s last-mile logistics ecosystem desperately requires rethinking and reconstruction.

Breaking Barriers And Bringing Digital Parity

We all like more options, and it would be more exciting if all options could be perfectly replaceable. What if we had dependable technology that gave the best delivery solution based on our business needs? What if we had the freedom to choose a delivery option that is best suited for the situation? 

The solution lies in transforming the Indian delivery ecosystem by enabling each business to build its own hybrid, unified, and interoperable delivery network. No barriers, no compromised choices, no lost revenue, no latency, no digital oppression – just a thriving and equitable ecosystem for all!

On the other hand, what if all delivery participants in the ecosystem were able to provide a similar experience to the businesses and their end customers? The ability to build their own micro-networks offers businesses valuable freedom – the ability to select delivery partners tailored to their specific products or commodities. 

For example, consider a business selling cakes; it needs special handling and premium delivery partners. Conversely, a grocery store might require fast delivery options. It’s important to note that the delivery experience for an INR 200 order differs significantly from that of an INR 2000 order.

These open networks empower businesses to make these crucial choices, ensuring that the delivery aligns perfectly with their unique needs and customer expectations. 

Often, businesses with delivery partners find their resources underutilized during periods of low demand. Conversely, during peak hours, they are constrained by limited capacities. Through their own networks, businesses can seamlessly share their riders across the network to optimize latency and reduce delivery costs. 

On the other hand, access to robust and hybrid networks means never having unfulfilled demand and thus increasing revenue. This interconnected network fosters optimal efficiency, ensuring each vehicle and team member is used to their maximum potential, alleviating congestion and streamlining operations.

A True Digital Parity For All 

Ultimately, we need a solution where everyone wins, and these hybrid, interoperable logistic micro-networks are a surefire way to create a sustainable and scalable logistics ecosystem. 

Small and medium-scale businesses, whether offline or online, can reap the benefits of diverse delivery options, enabling them to satisfy customer demands even during periods of high demand. 

Smaller logistics providers can access advanced technology and expansive networks that were once beyond their grasp. End consumers, in turn, will enjoy improved delivery services, quicker turnaround times, and enhanced transparency. 

This transformation will truly unleash the growth of ecommerce at a macro level and, at the micro level, enable profitable businesses both on the demand and supply side. The time is ripe for a reckoning; the logistics ecosystem now needs to play to win because playing not to lose won’t cut it.

The post The Last Mile Bubble Has Burst: What’s Next? appeared first on Inc42 Media.

Ride-hailing major Uber reportedly expects India to emerge as its largest market globally in the next decade as the company moves its focus towards two-wheelers (2W) and three-wheelers (3W).

Uber’s global vice-president for public policy Andrew Byrne told Moneycontrol that the company aims to double its presence in India as it eyes a big chunk of growth in the country. 

“We expect to double our presence in India, tap into more geographies, expand our services to include more three- and two-wheelers, which is where the biggest growth will be,” said Byrne.

He added that this expansion would also lead to an increase in Uber’s workforce in the country which currently stands at 3,000. “In fact, what we are building in Hyderabad and Bengaluru is being used for our services worldwide,” he added. 

Byrne also said that administrative compliances continue to be a challenge in India, which have ‘prodded’ Uber to think of different ways to cater to the market. He, however, added that the country has come a long way since 2013 when Uber had a ‘tough time’ explaining its service to the regulators. 

“We do believe there is economic value in ride-sharing regulations if you want the full benefit of a service like Uber,” added Bryne.

The comment comes as Uber continues to grapple with regulatory tussles with state governments across the country from Karnataka to Maharashtra. Different states have different licensing regimes which increases the compliance burden for the company.

On the question of Uber India’s switch to green vehicles, Byrne said the cost of electric vehicles (EVs) continues to be a challenge for the company as it chases its goal to become net zero. Touting Uber’s partnership with Tata Motors to roll out 25,000 EVs on its platform, he said it was just the tip of the iceberg. 

Responding to questions about the experience and safety of customers during Uber rides, Byrne said that the company is ‘constantly innovating’ to cater to the unique demands of the Indian market.

The reassurance comes barely a couple of days after a man was arrested for molesting and abusing a female Uber driver in Kolkata. In the past few months, many such incidents have come to light in different parts of the country. 

Amid growing cases of ride-cancellations on the platform, Byrne said Uber has introduced more transparency and reforms to make it attractive for drivers to stay with the company. 

“We have had significant issues with cancellations and reliability, and are constantly talking to our drivers. We have introduced more transparency so that the driver knows exactly how much he/she is getting paid. We have started paying drivers more regularly. We need to double the number of drivers and for that, we have to make it attractive for them to be with us,” Byrne added.

Available in 125 cities across the country, Uber competes with the likes of Ola Cabs, Rapido, and BluSmart across various categories. As Uber looks to scale its operations, hectic activity seems to be underway behind the scenes. 

Last month, Uber appointed former investment banker Arnab Kumar as the director of business development for India and South Asia. Just prior to that, it also unveiled the group ride feature in the country which allows users to share the ride with users enroute the same destination. 

Even as it fights a multi-front regulatory battle with authorities in Maharashtra, Delhi and Karnataka, the ride-hailing major has been bogged down by growing incidents of women safety-related issues. Alongside, it has also been under spotlight for poor ratings on the gig workers index.

Meanwhile, losses continue to be a major pain point for Uber India. It reported a net loss of INR 216 Cr in FY22, down 35% from INR 333.9 Cr in FY21. On the other hand, revenue grew 4% year-on-year (YoY) to INR 396.95 Cr in the year ended March 2022.

The post Uber To Double Presence In India, Expects Country To Be Largest Global Market Next Decade appeared first on Inc42 Media.

Bengaluru-based intra-city logistics startup Porter’s operating revenue crossed the INR 1,700 Cr mark in the financial year ended March 31, 2023. The Tiger Global-backed startup reported an operating revenue of INR 1,753.5 Cr in the financial year 2022-23 (FY23), a 2X jump from INR 847.6 Cr in the previous year. 

Porter generates revenue by offering services for transportation of goods. Including other income, Porter reported a total revenue of INR 1,789.1 Cr during the year under review as against INR 862 Cr in the previous fiscal year.

In line with the revenue, the startup’s total expenditure also almost doubled to INR 1,946.8 Cr in FY23 from INR 984 Cr in FY22. The rise in the expenditure could solely be attributed to the increase in fleet operation cost, which accounted for 80% of the total expenditure at INR 1,578.8 Cr in FY23. Fleet operating expenses stood at INR 786.4 Cr in FY22.

Porter also spent INR 185.9 Cr on employee benefit expenses, a 75% increase from INR 106 Cr in the previous year. 

It must also be highlighted that Porter announced an Employee Stock Ownership Plan (ESOP) liquidation scheme worth INR 50 Cr for its current and former employees in January this year.

Porter’s net loss jumped 29% to INR 157.7 Cr in FY23 from INR 122.2 Cr in the previous fiscal year. 

Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter is an important player in the logistics sector with its on-demand marketplace for trucks, bikes and packers and movers. 

The startup recently restructured its leadership team, with cofounder Digga assuming the role of CEO. Earlier, Digga held the position of chief operating officer, a role which the startup has decided to dissolve.

Porter has raised over $132 Mn to date and counts Tiger Global, Peak XV Partners, and the Mahindra Group among its backers.

The startup competes with the likes of listed unicorn Delhivery, Xpressbees, and Ecom Express.

The post Logistics Startup Porter’s Operating Revenue Doubles To INR 1,753 Cr In FY23 appeared first on Inc42 Media.

With sustainability becoming one of the top priorities for countries and businesses alike, the narrative around increasing the usage of electric vehicles (EVs) has taken centre stage in the past few years. Though the electrification of vehicles started a bit late in India compared to some European countries, the US, China, and Japan, the country’s EV adoption has grown exponentially on the back of more startups joining the segment and government policies. 

Many Indian EV startups such as Ather Energy, Altigreen, BluSmart, and Exponent Energy have now come up with sustainable solutions for mobility. 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. 

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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.

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3. AMO Mobility

• Founded In: 2018
• Founders: Sushant Kumar
• Funding Raised To Date: Bootstrapped
• Investors: NA
• Headquarters: Noida

AMO Mobility is an MSME-registered and ICAT-certified electric mobility startup. It is also certified by the Department for Promotion of Industry and Internal Trade (DPIIT). 

The original equipment manufacturer follows a business model for both B2C and B2B customers. Besides selling its electric two-wheelers through dealerships, AMO also has partnerships with OEMs, sub-dealerships, channel partners, and B2C partners to distribute its products. 

Some of its most noteworthy B2B partnerships include JustDial, Indiamart, the ecommerce platform of Paytm, and BikeDekho.

Recently, AMO Mobility signed a pact with EV-as-a -service platform, Trigo Electric, to provide its advanced electric mobility solutions to the company.

AMO Mobility has a range of escooter models, including Jaunty, Feisty, and Inspirer. Its customer base comprises corporates, ecommerce players, and CSR segments.

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4. 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.

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5. 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.

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6. 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.

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7. 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. ______________________________________________________________________________________________

8. 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. 

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9. 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.

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10. 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.

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11. 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.

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12. 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.

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13. 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.

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14. 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.

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15. 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. 

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16. 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.

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17. 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.

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18. 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. 

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19. 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.

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20. 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. 

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21. 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. Its parent entity is Prakriti E-Mobility.

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.

In early 2023, Evera raised $7 Mn in multiple tranches as part of its Pre-Series A funding round, led by IEG Investment Banking Group, Direct Capital, and Westova Global.

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

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22. Exponent Energy

• Founded In: 2020 
• Founders: Arun Vinayak, Sanjay Byalal
• Funding Raised To Date: $18 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.

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23. Fresh Bus

• Founded In: 2022
• Founders: Sudhakar Reddy Chirra
• Funding Raised To Date: $3.1 Mn
• Investors: ixigo
• Headquarters: Bengaluru

Founded by former AbhiBus founder Sudhakar Reddy Chirra, Fresh Bus is an electric bus (ebus) platform that operates in the intercity bus travel market.

The startup, backed by traveltech major ixigo, launched its ebus service in early 2023 by unveiling its first route between Bengaluru and Tirupati in Andhra Pradesh. Currently, the bus service is also functional on the Hyderabad-Vijaywada route while the startup plans to start its intercity ebus service on newer routes like Bengaluru-Chennai, Mumbai-Ahmedabad, and Goa-Pune.

Fleet operator Fresh Bus has collaborated with EV manufacturer Olectra to procure its buses. 

In the growing ebus market, Fresh Bus competes with NueGo, Zingbus, and other major intercity bus platforms in the market. The startup has also built its own charging station network.

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24. 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. 

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25. 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.

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26. 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.

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27. 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.

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28. 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.

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29. 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. 

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30. 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.

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31. 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.

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32. 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.

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33. 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. 

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34. 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.

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35. 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.

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36. Odysse Electric

• Founded In: 2020
• Founders: Nemin Vora
• Funding Raised To Date: Bootstrapped
• Investors: NA
• Headquarters: Mumbai

Electric mobility startup Odysse is a part of the Vora group of companies that has a vast line of businesses with a primary focus on automobile-based products. As a two-wheeler EV manufacturer, Odysse makes both electric scooters and motorcycles.

In the motorcycle category, the startup has two models – Evoqis and Vader. In the escooter category, Odysse’s main two-wheeler models are E2go, Hawk, and V2.

Odysse also manufactures a last-mile delivery escooter electric scooter, TROT.

Hence, the startup competes with the major players across the EV two-wheeler market, including Revolt, Oben Electric, Ola Electric, TVS Motor, Hero Electric as well as the likes of Yulu.

The company has set up its EV manufacturing facility in Ahmedabad, Gujarat.

In July 2023, Odysse announced a strategic partnership with Flipkart to help customers pre-book and purchase Odysse’s EVs more seamlessly from the marketplace.

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37. 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.

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38. 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.

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39. 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.

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40. 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.  

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41. 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.

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42. 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.

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43. 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.

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44. 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.

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45. 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.

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46. 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. 

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47. 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.

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48. 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.

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49. Vidyut Tech

• Founded In: 2021
• Founders: Xitij Kothi and Gaurav Srivastava
• Funding Raised To Date: $4 Mn+
• Investors: Force Ventures, Veda VC, Kunal Shah, Sahil Barua
• Headquarters: Bengaluru

Founded in 2021, Vidyut Tech is a commercial EV financing and vehicle lifecycle management platform, which aims to make commercial EV ownership more accessible and affordable.

The startup is trying to solve some of the biggest problems in the EV financing space by decoupling batteries from vehicles while underwriting loans for EVs. Given there is a gap in the longevity of EV batteries and vehicle chassis, Vidyut Tech believes that this approach works better for most customers in the L5 category of vehicles that it caters to.

Besides a traditional term loan plan, Vidyut provides buyers with a hybrid financing model for vehicle loans with a battery subscription. This brings down the upfront cost of the EVs by 40%-50%.

Using battery health data and its proprietary underwriting model, Vidyut extracts a high residual value for EVs, enabling customers to get an effective interest rate of 7% while buying the vehicles.

In December last year, the startup raised $4 Mn in Seed funding round.

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50. 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.

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51. 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 Sept 8, 2023

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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.

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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.

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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.

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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.

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.