Top Hirings, Adani’s Ambition, Yatra’s AI-Powered Management and more

Nothing taps Vishal Bhola, ex-Whirlpool whiz, as its India prez, while InCred Capital adds ex-Julius Baer talent Vikram Agarwal as COO. Adani's ecommerce ambition heats up with ONDC, Karnataka HC shifts gear on app-based auto rides, and Yatra introduces AI-powered expense management.

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What Matters

“Swag Se Karenge Sabka Swagat”: Nothing Picks Former Whirlpool Executive Vishal Bhola As Prez For India Biz

Nothing has announced the appointment of Vishal Bhola, a former Whirlpool executive, as the new president for its India business. With over 20 years of experience at Unilever and Whirlpool, Bhola is set to drive Nothing's growth trajectory in the Indian market.

This leadership change follows the departure of Manu Sharma, who had been leading Nothing's India operations since February 2021.

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“Parivaar Mein Naya Mehman”: InCred Capital has brought on board former Julius Baer India's executive Vikram Agarwal as COO

InCred Capital has brought on board former Julius Baer India's executive Vikram Agarwal as COO. Agarwal, who previously held roles as COO, chief revenue officer, and board member at Julius Baer India, will now oversee technology, operations, client servicing, compliance, and risk management at InCred Capital.

This strategic hire coincides with InCred Capital's alternative asset management arm nearing the first round close of its maiden private equity fund at over INR 330 Cr.

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“Chaaro Khaane Chit”: Adani Group Eyes Entry Into Ecommerce, Payments Space With ONDC

The Adani Group is gearing up to dive into the ecommerce and payments sectors, planning to secure a licence for the Unified Payments Interface. Additionally, they're considering launching online shopping services via the government-backed Open Network For Digital Commerce (ONDC).

This bold move comes as the ONDC paves the way for Indian companies to boost their digital presence and success.

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“Din Dahade Chori”: Karnataka HC Caps Service Charges For App-Based Auto Rides At 5%

The Karnataka High Court has upheld the state government's decision to cap service charges for app-based auto rides at 5%. Justice Suraj Govindaraj dismissed petitions from online aggregators challenging this cap, while Transport Minister R Ramalinga Reddy welcomed the ruling and announced plans to file a caveat.

This follows a late-2022 notification by the Karnataka government, setting the service charge limit at 5% of the base fare.

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“AI Ki Sahayta”: Yatra Unveils AI-Powered Tool To Help SMEs, Large Enterprises Manage Expenses Efficiently

Yatra has launched an AI-powered tool designed to help SMEs and large enterprises manage expenses more efficiently.

This innovative tool integrates travel bookings with expense tracking, streamlining processes for improved accuracy and efficiency. Utilizing large language models (LLMs) for receipt analysis, it handles everything from booking flights, hotels, and cars to recording travel expenses within a single platform.

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1. Infra.Market has secured a $50 million infusion from the MARS Unicorn Fund, taking their total investment to $100 million. This funding will support the construction unicorn's expansion into new global markets and enhance its presence across various product verticals.

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2. Ice popsicle brand Skippi has secured funding from Hyderabad Angel Network, Venture Catalysts, and others. The funds will be used for branding, working capital, leadership hiring, and new product development, building on their 2022 investment success from Shark Tank India.

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3. Flam, an AI-enabled mixed reality publishing platform, has secured $4.5 million in a pre-Series A round from investors including Turbostart, Twin Ventures, and Alphatron Capital. This funding will help brands create and publish innovative mixed reality content.

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4. Cleantech startup EcoRatings has secured pre-seed funding from investors including We Founder Circle, 888 VC, Vinners, Indigram Labs Foundation, and Google. The funds will enhance their AI/ML capabilities and data acquisition to help firms meet ESG goals.

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5. Drone startup Yali Aerospace has secured funding from Zoho to enhance its VTOL drones, designed for delivering medical commodities. The investment will boost the development of their drones, which feature a 7 kg payload and a 150 km per hour range.

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6. Banking tech platform GRAVITY has secured $1 million in a pre-Series A funding round, spearheaded by Kettleborough VC. The investment will further propel GRAVITY's hyper-personalized banking solutions.

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7. EV startup Turno has secured $5.5 million in a recent funding round, with British International Investment (BII) leading the investment charge. The round also witnessed backing from Stellaris Venture Partners, B Capital, Quona Capital, and Accion Venture Lab.

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8. Maxvolt Energy Industries, an electric vehicle battery manufacturer, has secured $1.5 million from multiple angel investors to fuel the rollout of fast-charging lithium-ion batteries.

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9. AbleCredit has secured $1.25 million in a seed round led by Merak Ventures to pioneer AI-driven solutions addressing credit gaps in emerging economies.

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