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Zomato's Growth Story of Delivering Happiness at the Doorsteps!
StartupTalky · 1y ago
Medial
The article discusses the success story of Zomato, an Indian food delivery startup. Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, Zomato has revolutionized the way people order food and explore restaurants. The article covers various aspects such as the company's headquarters, founders and team, funding and investors, acquisitions, business and revenue models, challenges faced, growth, partnerships, and future plans. It also highlights Zomato's competitors and its achievements in the industry.
Yulu raises $19.25 Mn from Magna, Bajaj Auto
Entrackr · 1y ago
Medial
Yulu, an electric two-wheeler company, has raised $19.25 million (about Rs 160 crore) in equity funding from existing investors Magna and Bajaj Auto Ltd. The additional capital will enable Yulu to maintain its growth streak and will strengthen its market leadership as it expands in terms of vehicles, operational locations, and product and technology innovation, the company said in a press release. In September 2022, Yulu raised $82 million in equity funding led by US-based Magna International in a Series B funding round. The firm also raised $3 million in debt financing in January this year. Entrackr exclusively reported the development. The startup has scooped up more than $130 million to date. Six-year-old Yulu offers last-mile connectivity through its electric bike and network of EV charging and battery swapping network. It provides urban Mobility-as-a-Service (MaaS) in Bengaluru, Mumbai, and Delhi-NCR. Through Yuma, which is a joint venture between Yulu and Canadian automotive supplier Magna, it has done more than 6.5 million swaps to date. Yulu co-founder and CEO Amit Gupta also confirmed that the firm is on track to raise its Series C round soon. “Yulu will continue to strengthen its leadership in the mobility-as-a-service (MaaS) segment by deepening existing business lines and opening up new use cases and geographies. Hence, we will look to raise additional funds to power our growth. We are gratified to see a lot of inbound interest from institutional investors and will raise additional capital later this year,” he said in a statement. According to startup data intelligence platform TheKredible, Yulu registered Rs 41.74 crore in revenue from operations in FY23 against Rs 29 crore in FY22. During the period, its losses also jumped to Rs 95 crore from Rs 55 crore. As per Yulu, it has seen a nearly 5x leap in revenue over the past five years. The company competes with Zypp Electric, Bounce, Ebikego, and among others.
Yulu Turns EBITDA Positive, Breaches $30 Mn ARR On Rising Quick Commerce Demand
Inc42 · 8m ago
Medial
- Yulu has achieved a milestone of crossing an annual recurring revenue (ARR) of $30 million and has also become EBITDA positive. - Yulu currently operates a fleet of over 40,000 electric vehicles and plans to deploy 100,000 EVs by 2025. - The company is set to raise $100 million in its Series C funding round to support its expansion plans. - In September 2020, Yulu raised $82 million in its Series B funding round led by Magna International and Bajaj Auto. - The demand for quick commerce and food delivery services, along with supportive government policies, has contributed to Yulu's growth.
Only 22% of unicorns were started by solopreneurs in last decade: PrivateCircle
Economic Times · 1y ago
Medial
According to PrivateCircle Research, 22% of Indian unicorns in the last decade were started by solopreneurs, while the rest had two or more co-founders. Fintech unicorns were the most common among solopreneur-led startups. Bengaluru was the preferred location for solopreneur-led startups. However, startups with co-founders had a higher success rate, with higher average revenue and more funds raised. Some solopreneur-led unicorns managed to raise large funding rounds and launch successful IPOs. The choice between solo and co-founder startups depends on individual temperament, goals, and venture dynamics.
Yulu raises $19.25 mn from Magna and Bajaj Auto, eyes expansion & new product launch
Economic Times · 1y ago
Medial
Yulu Bikes, a shared mobility services provider, has raised $19.25 million in funding from existing investors Magna and Bajaj Auto. The funds will be used to launch a new product, expand the company's reach, and develop technology. Yulu has experienced a significant increase in demand, particularly in Gurugram and Mumbai. The company plans to introduce a new electric scooter for e-commerce deliveries and expand operations to five more metros by 2024. Yulu aims to deploy about 100,000 electric two-wheelers this year and is also exploring opportunities for international exports with its partner Bajaj Auto.
Sixth Sense-backed ProcMart doubles revenue; gears up for Series B round, acquisitions
VCCircle · 1y ago
Medial
Procmart, a procurement solutions startup backed by SixthSense Ventures, has witnessed a doubling of its revenue. The company is now preparing for a Series B funding round and exploring potential acquisitions. Procmart offers a technology platform that enables businesses to streamline and optimize their procurement processes. The revenue growth reflects the success of Procmart's business model and its ability to cater to the evolving needs of the procurement industry.
ET Soonicorns Summit 2024: Meet the investors, innovators, and industry leaders set to Recalibrate. Rebound. Reinvent the Indian startup ecosystem
Economic Times · 10m ago
Medial
The ET Soonicorns Summit 2024 is an event that brings together startup founders, investors, policymakers, and industry leaders to discuss the startup ecosystem in India. The summit aims to provide insights and strategies for startup success, addressing topics such as funding, gender disparity in startups, fintech innovation, AI technology, climate action, SaaS growth, and fit-tech. Key speakers include author and entrepreneur Kim Hvidkjaer, Minister for Electronics Priyank Kharge, and industry veterans from Lightspeed India Partners, Microsoft India, and more. The event also features presentations from soonicorn founders, showcasing their innovative business models.
boAt Success Story : How It Became the World's 5th Largest Wearable Brand
StartupTalky · 1y ago
Medial
BoAt is a prominent Indian earphone brand founded in 2016 that has quickly risen to become a leader in the industry. With its innovative designs, high quality, and reasonable prices, it has become a go-to choice for consumers. BoAt offers a wide range of wireless speakers, earbuds, headphones, and earphones, providing customers with portable audio solutions that combine functionality with style. The brand has achieved significant growth and success in a competitive market, and this article explores its journey, founders, business model, funding, competitors, and future plans.
He turned 55. Then he started the world’s most important company.
Livemint · 1y ago
Medial
Morris Chang, founder of Taiwan Semiconductor Manufacturing Company (TSMC), is proof that successful entrepreneurship is not limited to young founders. Chang founded TSMC at the age of 55 and revolutionized the chip manufacturing industry with his innovative business model. Older entrepreneurs, according to studies, are more likely to achieve success than their younger counterparts. Chang's experience and expertise played a crucial role in his ability to execute his vision for TSMC. Today, TSMC is a vital component of the global technology industry, manufacturing chips for various devices that are part of our daily lives.
Challenges of raising two billionaires: Zerodha brothers Nithin and Nikhil Kamath's mother says ‘they were not normal’
Economic Times · 19d ago
Medial
Revathi Kamath, mother of Zerodha founders Nithin and Nikhil Kamath, is writing an autobiography detailing the challenges of raising her unconventional sons. Her story highlights personal sacrifices and struggles after marriage, as her life focused on family. Beyond her role as a supportive mother, Kamath also developed a professional identity, founding a floral business and engaging in environmental sustainability work. Her announcement has resonated widely, garnering praise for her strength and influence on her sons' success.
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