Ola Maps Faces Issues, Amazon India’s New Moves, BeepKart Bids Adieu and more

Ola Maps is facing quality issues while Google slashes its pricing, making competition fiercer. Meanwhile, Flipkart-backed Shadowfax is gearing up for a massive INR 3,000 Cr IPO, and Amazon India is electrifying its delivery fleet with a new partnership to hit 10,000 EVs by 2025. On a somber note, BeepKart has trimmed its workforce by over 100 employees amidst shifting tides in the used vehicle market.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Auron Mein Kahan Dum Tha”: Ola Maps' Quality Not Up To The Mark, Google's Pricing Is Inconsistent As Per MapmyIndia CEO

Ola Maps is trying to win over developers with a new pricing strategy, but it’s clear they’ve got a long way to go in matching the quality of Google Maps. As Google slashes its subscription prices, Ola is hoping its lower costs will lure users, despite some concerns over its performance.

Meanwhile, MapmyIndia’s CEO is feeling confident, predicting a significant revenue milestone even as competition heats up.

Read more here

“Ab Humari Baari”: Flipkart-Backed Shadowfax Plans INR 3,000 Cr IPO

Flipkart-backed Shadowfax is gearing up for a blockbuster INR 3,000 Cr IPO, with promoters and investors already in talks with merchant bankers. Fresh off a $100 Mn boost in its Series E funding round, this hyper-local delivery startup is racing toward the big leagues.

Founded in 2015, Shadowfax is set to make waves with its plans to go public.

Read more here

“You’re My Love Charger”: Amazon India partners with Gentari to increase EV delivery fleet to 10,000 by 2025

Amazon India is electrifying its delivery game with a new partnership with Gentari, aiming to roll out 10,000 EVs by 2025. Gentari will not only supply these vehicles but also manage their smooth operation, ensuring a green and efficient last-mile delivery service.

With this move, Amazon is steering toward a more sustainable future for its deliveries in India.

Read more here

“Khatam, Tata, Goodbye”: BeepKart lays off more than 100 employees

BeepKart, the Bengaluru-based used two-wheeler retailer, has hit the brakes on its workforce, laying off over 100 employees in recent months.

The layoffs, which began shortly after a fundraising round in April, have impacted more than 20% of the company’s staff across marketing, tech, product, and operations. It’s a bumpy ride for BeepKart as it navigates these tough times.

Read more here

1. HealthCRED has secured seed funding to expand its healthcare-focused fintech operations, with plans to strengthen customer relationships and grow in southern and western India. The startup, founded in 2022, aims to enhance its B2B loan systems and onboard new talent to drive growth.

   Read more here

2. Kinetic Green has secured a $25 million investment from Greater Pacific Capital to boost its EV production, expand dealership networks, and ramp up R&D efforts. This funding marks a significant step forward in their mission to electrify India’s roads.

   Read more here

3. Cricketer KL Rahul has invested in mixed reality startup Flam, following his recent backing of fitness brand Boldfit. While the financial details remain under wraps, Rahul's latest move highlights his growing interest in tech and wellness ventures.

   Read more here

4. RateGain's Q1 profit soared 82% year-on-year to INR 45.37 Cr, with revenue climbing 21%. The traveltech SaaS startup is off to a strong start in the financial year 2024-25.

   Read more here

5. Mumbai-based proptech startup Truva has secured $3 million in seed funding led by Stellaris Venture Capital. The funds will be used to enhance their product stack, expand their team, and ramp up operations.

   Read more here

6. Cleantech startup Kazam has raised $8 million in its Series A3 funding round, led by Vertex Ventures Southeast Asia and India. The fresh capital will help Kazam accelerate its growth and expand its green energy solutions.

   Read more here

7. Wealth management firm Neo Group has secured INR 400 crore ($47 million) in a fresh equity round, led by MUFG Bank and Euclidean Capital. The funding will bolster Neo Group’s growth and expansion efforts.

   Read more here

8. OYO has raised $175 million in a down round led by Ritesh Agarwal's Patient Capital, with additional participation from J&A Partners and ASK Financial Holdings. The funding, while significant, has led to a steep drop in OYO’s valuation from $10 billion in 2019 to $2.37 billion.

   Read more here

9. 4baseCare has secured $6 million in Series A funding, led by Yali Capital, to advance its cancer care solutions. The investment will bolster the startup’s efforts to enhance and expand its innovative healthtech offerings.

   Read more here