Zoomcar Makes Its Mark, Ola’s New Moves, EOW Arrests BharatPe Vendor and more

India is expanding its UPI payment service to the Maldives, while Zoomcar makes its mark with a new fulfillment unit in Chennai and aims to open 100 by year-end. Ola Electric is charging up excitement with a new electric bike launch and a significant share price jump, as Blinkit rolls out a speedy 10-minute passport photo delivery in Delhi. Meanwhile, BYJU’S faces a Supreme Court showdown over insolvency proceedings, and Info Edge reaffirms its commitment to its portfolio companies. In a strategic move, Google plans a startup hub in Madhya Pradesh, and Namma Yatri extends its zero-commission cab service to Delhi NCR, marking a busy and transformative period for Indian startups.

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

What Matters

“Naya Yug, Nayi Niti”: Ola Electric Teases Launch Of Electric Bike On August 15

Ola Electric is sparking curiosity with a teaser for its upcoming electric bike, set to be unveiled on August 15. The EV startup shared a cryptic video on X, revealing just a sketch and silhouette of the new model.

This excitement follows a dramatic 20% surge in Ola Electric’s shares after their recent exchange listing, hinting at big moves ahead.

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“Aman Aur Mohabbat Ki Baari”: India To Now Extend Its UPI Payment Service To Maldives

India's UPI payment service is set to make a splash in the Maldives. Following a productive meeting between Jaishankar and Maldivian Minister Moosa Zameer, the NPCI signed an MoU to bring the convenience of UPI to the island nation.

And that's not all—Jaishankar also unveiled six new projects aimed at improving street lighting, mental health, and children's special education in the Maldives.

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“Chor Ki Chori Pakdi Gayi”: EOW Arrests Vendor Linked To Alleged BharatPe Fraud

The BharatPe fraud saga took a dramatic turn as Delhi Police’s Economic Offences Wing (EOW) nabbed Amit Kumar Bansal, a key vendor tied to the alleged scam. Arrested on August 6, Bansal now faces six days in police custody, as the investigation into the INR 81.28 Cr fraud deepens.

This comes after BharatPe filed a criminal complaint last December, accusing former CEO Ashneer Grover and his family of orchestrating the fraud.

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“Ab Humari Baari”: India Has Unique Opportunity To Lead In Industrialisation Via Low-Carbon Tech

G20 Sherpa Amitabh Kant sees India at the forefront of a green industrial revolution, with low-carbon tech like lithium-ion paving the way. He envisions India as the global epicenter of the energy transition, driving urbanization and industrialization sustainably.

With the Indian EV market set to hit $110.74 billion by 2029, the future looks promising.

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“Ab Aayega Maza”: Zoomcar Unveils First Fulfilment Unit In Chennai, Targets To Open 100 By Year End

Zoomcar has quietly marked a significant milestone by opening its first fulfillment unit in Chennai, with plans to establish over 100 such centers by year-end. As part of its measured expansion, the Nasdaq-listed company aims to add 1,000 new cars to its platform by December.

This move follows the recent launch of their unified app, which introduces 10 new features, signaling a steady and deliberate growth strategy.

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“Khatro Ke Khiladi”: No Plans To Exit Portfolio Companies: Zomato-Backer Info Edge

Info Edge cofounder Sanjeev Bikhchandani has made it clear—there are no plans to exit portfolio companies like Zomato anytime soon. Drawing from “past experiences,” Bikhchandani emphasized the importance of staying invested long-term to unlock true value.

With Info Edge’s profits soaring 75% year-on-year and significant gains from its stakes in Zomato and PB Fintech, the company is holding firm on its bets.

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“Maamla Legal Hai”: BYJU’S US Lenders Move SC Against NCLAT Order To Quash Insolvency Proceedings

BYJU'S legal troubles continue as its US lenders have taken the battle to the Supreme Court, challenging the recent NCLAT order that quashed insolvency proceedings against the edtech giant.

Just days after the tribunal's decision offered some relief to BYJU'S, its US-based creditors are pushing back, escalating the high-stakes showdown in India's top court.

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“Mauka Pe Chauka”: Blinkit Kicks Off 10-Minute Delivery Of Passport Photo For Delhi

Blinkit is speeding things up with the launch of a 10-minute passport photo delivery service in Delhi, expanding its quick commerce offerings. CEO Dhindsa is eager for feedback as the company plans to scale this service across more cities.

Building on its existing print store segment, Blinkit continues to cater to the growing demand for instant delivery, bringing convenience right to your doorstep.

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“Namaskar Anna”: Namma Yatri’s Parent Extends Zero Commission Cab Service To Delhi NCR

Namma Yatri, known for its zero-commission model, is now cruising into Delhi NCR, offering its community-driven cab service. After a successful pilot with auto-rickshaws, the app is officially launching under the refreshed “Yatri” brand.

Spun off by Juspay into MovingTech Innovations, Namma Yatri is expanding its footprint while keeping the focus on fair, transparent fares for riders and drivers alike.

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“Hukumat Ki Jung”: Ola Electric Shares Jump Nearly 20% After Flat Listing

Ola Electric’s shares are electrifying the market, soaring nearly 20% to INR 91.18 after a flat listing at INR 76 on the BSE.

With a market cap of $4.72 billion, the EV maker’s public issue, which included a fresh share issuance and an offer-for-sale component, raised over INR 6,145.6 crore. Investors are clearly buzzing about Ola Electric’s future prospects.

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“Hum Saath Saath Hai”: Google To Establish Startup Hub In Madhya Pradesh As Per CM Mohan Yadav

Google is set to boost Madhya Pradesh's tech scene by establishing a startup hub, according to CM Mohan Yadav. This initiative follows NVIDIA's suggestion to make the state the “Intelligence Capital of India,” and is expected to generate around 7,000 jobs while energizing the local economy.

This move complements Google’s recent partnership with Maharashtra to advance scalable AI solutions in various sectors.

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1. MapmyIndia's Q1 PAT dipped 6% quarter-on-quarter to INR 35.9 crore but rose 12% year-on-year. The decline in operating revenue by 5.1% QoQ was offset by a 13.5% YoY increase, driven by growth in A&M and C&E revenues.

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2. Gaana has been acquired by ENIL, the parent company of Radio Mirchi, for a surprising Rs 25 lakh, according to NSE filings. This comes after Gaana, once valued at $580 million and having raised over $200 million, was a major player in the streaming market.

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