Ola’s Rebranding Move, Swiggy Begins Charging Service Fees, BYJU’S Bids Tearful Adieu and more

Krutrim is making strides with its upcoming AI chips and a major cloud service expansion, while Ola's rebranding to Ola Consumer and relaunch of Ola Share are shaking up the mobility market. Swiggy's new service fees for non-metro restaurants and Freshworks' CPO departure add to the dynamic shifts in tech. Meanwhile, WazirX dumps its wallet provider post-heist, BYJU’S plans to close 120 tuition centres, and Ola Electric’s Roadster bikes are revving up for a 2025 debut. Lastly, the Delhi HC’s ruling against Okinawa underscores ongoing regulatory tensions.

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What Matters

“Ek Aur Ek Gyarah”: Krutrim To Launch AI Chips By 2026, Expands Cloud Services

Krutrim is making waves with plans to launch AI chips by 2026, introducing Bodhi for AI, Sarv for General Compute, and Ojas for Edge. With strategic partnerships with Arm and Untether AI, Krutrim is set to redefine computing power.

Plus, their cloud services are expanding with 50 new offerings, ensuring robust data protection and precise monitoring for businesses.

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“Nek Kaam Mein Deri Kaisi”: Ola Cabs Rebranded To Ola Consumer, Ride-Sharing Service Ola Share Relaunched

Ola Cabs is now Ola Consumer, expanding its vision beyond ride-sharing to revolutionize ecommerce. With the relaunch of Ola Share and the introduction of Ola Credit, Bhavish Aggarwal is making services more accessible and affordable.

Besides, by partnering with ONDC, Ola aims to cut out the middlemen, making your shopping experience smoother and cheaper.

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“Bhaad Mein Jaaye Janta”: Swiggy Begins Charging Service Fees On Gross Order Value For Non-Metro Restaurants

Starting August 14, Swiggy will implement a service fee on the gross order value for non-metro restaurants, leading to a slight increase in fees for its partners. The change applies uniformly across the platform, adding to the existing 22-25% commission rates.

While Swiggy aims to bolster its profits, the move has raised concerns among restaurant partners about the growing cost burden.

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“Kar Chale Hum Fida”: Freshworks Chief Product Officer Srinivasagopalan Ramamurthy Quits

Freshworks' Chief Product Officer, Srinivasagopalan Ramamurthy, is stepping down to pursue new opportunities, marking a significant change in the company’s leadership.

He’ll stay on until October 1 to ensure a smooth transition and will continue to provide advisory support until the year’s end. Freshworks is gearing up for the next chapter with this shift at the helm.

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“Maamla Legal Hai”: Delhi HC Dismisses Okinawa’s Plea To Restrain Centre From Recovering Subsidies

The Delhi High Court dismissed Okinawa's plea to restrain the Centre from recovering subsidies under the FAME-II scheme. Despite Okinawa's concerns that without relief, it might face insolvency, the court stood firm, noting that other OEMs had already returned the subsidy.

The row stems from allegations that Okinawa violated domestic manufacturing mandates, putting the EV maker in a tough spot.

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“Tum Apne Raaste, Mai Apne Raaste”: A Month After $230 Mn Crypto Heist, WazirX Dumps Wallet Infra Provider Liminal

A month after losing $230 million in a major crypto heist, WazirX is cutting ties with its wallet infrastructure provider, Liminal.

The crypto exchange is now migrating its remaining assets to new multisig wallets, asserting that while its own systems were secure, Liminal's interface was compromised. This move follows the devastating hack that wiped out 45% of WazirX's customer funds.

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“Bye Bye BJYU’S”: BYJU’S To Shut Nearly 120 Tuition Centres

BYJU’S is set to close nearly 120 tuition centres, sending out lease termination notices as it shifts business priorities. The edtech giant, facing ongoing challenges, plans to shut down most of these centres by August 31.

This move marks a significant retrenchment as BYJU'S continues to navigate its evolving strategy.

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“Ab Aayega Maza”: Ola Electric Unveils Roadster Series Of Electric Bikes, Deliveries To Begin From Jan 2025

Ola Electric has just unveiled its Roadster series of electric bikes, featuring three variants: Roadster, Roadster X, and Roadster Pro. Bhavish Aggarwal announced that the Roadster Pro will hit the streets by Diwali next year, with the other two models following in January 2025.

This new lineup promises to electrify the bike market with its diverse options and cutting-edge technology.

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1. Ecom Express is gearing up for its IPO, with board approval for a ₹2,600 crore public issue. The offering includes ₹1,284 crore in fresh shares and ₹1,316 crore through an offer for sale.

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