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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
India’s only all-electric ride-hailing company has announced a fresh fundraise to expand fleet capacity; separately, news channels resist a government diktat on ‘national interest’.
Editor's note: Let me set the record straight. BluSmart Mobility, India’s only ride-hailing company with an all-electric fleet, is building a taxi service. And it is getting good venture capital to build it. That’s where we are at on innovation, venture funding and entrepreneurship in 2023. On Thursday, the Gurugram-based company announced that it has raised $42 million, including $5 million in venture debt, in a fresh round of funding in April. The funds will be utilized for expanding deeper into metros and increasing fleet capacity. The company currently operates around 3,500 cars in Delhi NCR and Bengaluru. While any investment in a ride-hailing company is welcome, especially in the current climate where tech startups are finding it hard to raise funds, we can’t overlook the fact that nearly 50% of the investment came from the founders and leadership team. We will come to it in a bit, but first the positives. The funding wasn’t entirely unexpected for a company that has captured a large share of the Delhi NCR business over the last year or so. Three things are working for …
A string of deals and bets signal the ride-hailing company’s ambition to dominate delivery, but questions and challenges remain.
The Adani group plans to spend Rs 1 lakh crore over the next five years to develop its airport business. While everything—including the funding—is sorted, a prolonged war could disturb the math.
NDTV and Network18 are now firmly loss-making—and show little urgency to fix the fundamentals.
