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News on Medial
Pneucons bags pre-Series funding from Ather CEO Tarun Mehta, others
Entrackr
·
1y ago
Medial
Pneucons, a B2B industrial marketplace startup, has closed its undisclosed pre-series investment round driven entirely by social media engagement. The round also saw participation from Tarun Mehta, co-founder & CEO of Ather Energy. The proceeds will be used to expand the team, focusing on more cross-border transactions across major engineering categories like fire safety, pneumatics and hydraulics, industrial automation, plastic & packaging, electric cables and products and power tools. Founded in 2022 by Pritesh Lakhani, Pneucons is a B2B industrial marketplace startup building an ONDC-like infrastructure. Serving SMEs and MSMEs in India’s industrial sector, Pneucons addresses challenges such as credit defaults, opaque pricing, and the availability of genuine quality products. The Ahmedabad based startup claims to have presence in over 42 countries with 7,000 buyers and 70 sellers, all acquired through word of mouth. It has executed cross-border transactions in 12 countries. It counts established enterprises and government entities such as Indian Railways, Indian Oil, L&T Suffin, Telangana Power Plant, and ISRO as its clients. As per the company, sellers from tier II and III cities are directly exporting & importing industrial equipment via Pneucons.
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Ather CFO Deepak Jain steps down, Sohil Parekh named successor
Economic Times
·
1y ago
Medial
Electric vehicle maker Ather Energy's CFO, Deepak Jain, is set to leave the company, with Sohil Parekh taking over the position. Ather CEO Tarun Mehta announced the change in an internal communication. Jain had been with Ather for over four years and played a crucial role in the company's financial growth. Parekh, who has been with Ather for over a year, will work closely with Jain during the transition. Ather recently unveiled a new line of scooters called the Rizta. In FY23, the company's losses increased significantly while operating revenue grew.
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Ather Energy CEO reacts to OpenAI $700K cash burn report, says Ola, Paytm, Flipkart have burn more than this
IndianStartupNews
·
1y ago
Medial
Ather Energy's CEO, Tarun Mehta, responded to the recent OpenAI cash-burning report, stating that the company is focused on sustainable growth and has achieved significant milestones. He emphasized Ather's strategic decisions, including product development, quality, and infrastructure expansion, and mentioned that the EV startup's growth is driven by customer demand and a long-term perspective on investments.
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No Malayalees were hurt: Ather Energy on criticism over chapati in Onam Sadya
Inshorts
·
10m ago
Medial
Bengaluru-based startup Ather Energy has responded to criticism over a picture shared by its CEO Tarun Mehta, which showed chapati in the Onam Sadya served at one of its offices. The company clarified that the "chapati was an option for our colleagues who respect personal choices". "Thankfully, no Malayalees were hurt in this incident," the company added.
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Ather will need few more years of external capital, govt subsidies to grow: CEO Tarun Mehta
Economic Times
·
1y ago
Medial
Ather Energy, an electric scooter manufacturer, plans to seek external capital for further growth. CEO Tarun Mehta mentioned that the two-wheeler EV industry would require government subsidies to continue growing at a healthy rate. Mehta urged for a third version of subsidies to prevent degrowth and make some products unviable. Ather recently launched a new scooter range called Rizta, targeting the family market. The company also introduced a new technology stack and smart helmets. The firm currently has a manufacturing capacity of 4.5 lakhs per annum and a charging network of 2,400 fast chargers and 210 service centers.
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Electric vs Petrol: Ather launches new family e-scooter ‘Rizta’, backs subsidies
Livemint
·
1y ago
Medial
Tarun Mehta, the CEO of Ather Energy, suggests that India will require ongoing subsidies for electric scooters to facilitate the shift away from polluting motorcycles. The government's decision to cut cash incentives for e-scooters earlier this year has slowed growth in the industry. Experts believe subsidies are crucial for India to achieve its goal of electrifying 70% of its two-wheeler fleet by 2030. Ather recently launched a new e-scooter called 'Rizta' aimed at attracting a wider range of buyers. Despite steady growth, the company has not yet reached profitability.
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Ather Energy bets on capex-light retail, demand to drive growth: CEO Tarun Mehta
Economic Times
·
2m ago
Medial
Ather Energy, an electric two-wheeler maker, recently debuted on Indian stock exchanges, targeting growth by utilizing a capex-light retail model and appealing to value-conscious upgraders. CEO Tarun Mehta emphasized their disciplined cash deployment strategy, focusing on R&D and brand-building. With a significant market share and planned new manufacturing and R&D investments, Ather aims to expand beyond the premium segment, becoming a primary choice for upgrading customers. Their IPO raised Rs 2,981 crore, with strong institutional backing.
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Jaipur man buys Ather electric scooter worth a lakh using ₹10 coins: See Pic
Livemint
·
1y ago
Medial
A man in Jaipur, Rajasthan, made an interesting purchase recently by buying an Ather 450 Electric Scooter worth over ₹1 lakh, completely paid in ₹10 coins. A picture shared by Ather Energy CEO Tarun Mehta showed the "new Ather owner" being handed over the keys, along with pouches filled with ₹10 coins. Ather Energy, backed by investors like GIC and Flipkart founders, is planning to list in India and has a market valuation of $739.4 million, with expectations of electric two-wheeler sales increasing to 60%-70% by 2030. A potential IPO in Mumbai is also being considered, which could value the company at about $2 billion.
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Ather Unveils Family Escooter, Forays Into Smart Helmet Segment
Inc42
·
1y ago
Medial
Homegrown electric vehicle manufacturer Ather has launched its new escooter, the Rizta, targeting the Indian family segment with an emphasis on comfort, safety and connected technology. The scooter is available in two models and three variants, with a starting price of INR 1.09 lakh ($1,457). CEO Tarun Mehta urged the government to extend electric vehicle subsidies to boost adoption. Ather also unveiled AtherStack 6.0, an upgrade with features including live location sharing and auto reply to calls, and introduced its smart helmet HALO range.
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Infra.Market bags ₹1,050 crore at $2.8 billion valuation
Inshorts
·
6m ago
Medial
IPO-bound Infra.Market has raised ₹1,050 crore in its pre-IPO round at a valuation of about $2.8 billion, a jump of over 10% from its valuation of $2.5 billion during the previous funding round. The fundraise, termed as its Series F round, saw participation from existing investors Tiger Global, Foundamental GmbH, Evolvence, among others.
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Beyond Snack bags $8.3 mn; Dr. Doodley, Revivo get pre-seed cheques
VCCircle
·
6m ago
Medial
Beyond Snack, a banana chips maker, raised $8.3 million in Series A funding led by 12 Flags Group and others, aiming to expand globally and innovate products. Pet healthcare startup Dr. Doodley secured pre-seed funding to expand its veterinary services, while laundry service Revivo received pre-seed investment from Inflection Point Ventures to enhance technology and branding. Beyond Snack operates in 12 countries and seeks further growth, and Dr. Doodley serves 2,000 customers recently.
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