Ola Electric will launch its IPO anchor book on August 1, with the public issue open from August 2 to August 6. Seeking a $4.2-4.4 billion valuation, the company aims to raise Rs 5,500 crore ($660 million). Ola Electric reported Rs 5,009.8 crore in revenue for FY24.
Ather Energy raised Rs 60 crore ($7 million) in debt from Stride Ventures, its second infusion in two months, bolstering funds ahead of its potential IPO. Having raised $450 million to date, Ather recent converted to a public company, signaling progress toward a public listing.
San Francisco-based DocketAI, an AI revenue enablement startup, raised $15 million in Series A funding led by Mayfield and Foundation Capital. Founded by Arjun Pillai and Anoop Thomas Mathew, DocketAI uses generative AI to provide instant technical support and personalized document generation, enhancing revenue processes and productivity for sales teams.
San Francisco-based Noded secured $4 million in funding led by Boldstart Ventures, with participation from Bessemer Venture Partners, 20VC, and First Hand Ventures. Led by CEO Chris Port and CPO Steve Wood, Noded offers technology for managing tasks, notifying users of important changes, and creating knowledge graphs.
Google has partnered with ElectricPe to improve the EV charging experience in India. Google Maps and Google Search users can now view real-time availability and status of charging points. ElectricPe, founded in 2021, operates over 25,000 public chargers in Bengaluru and has raised $8.29 million.
Go Digit General Insurance saw an 8% drop in net premium revenue to Rs 1,824 crore in Q1 FY25. Despite this, their gross premium was Rs 2,660 crore. Profits rose by 90.6% to Rs 101 crore, reflecting cost control efforts.
Leap Finance, a fintech platform aiding Indian students with overseas education, is in discussions to raise $70-100 million in a new funding round. This Series E round could make Leap a unicorn. The firm last raised $75 million in Jun-2022, led by Owl Ventures.
Agriculture supply chain firm Waycool has laid off over 200 employees across departments in its third round of layoffs. This move aims to simplify and automate roles as the company strives for profitability. Previous layoffs occurred in July 2023 and February, affecting more than 370 employees.
Santa Clara-based AI platform provider acquired Germany’s Raytion, an information retrieval technology company. Raytion, led by CEO Valentin Richter, offers GenAI-powered search and knowledge management for cross-enterprise data integration. Since 2001, Raytion has implemented large-scale solutions for Global 500 companies worldwide.
Bengaluru-based insurtech startup Covrzy has received a direct broking license from IRDAI, enabling it to offer comprehensive business insurance solutions in India. Founded by Ankit Kamra and Veera Thota, Covrzy raised $400K in pre-seed funding and serves over 500 clients, including Redcliffe Labs and Karboncard.
