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101 of India’s 117 Unicorns Have Zero Patents; Ola Electric Holds The Highest Number

OutlookIndia

OutlookIndia · 4m ago

101 of India’s 117 Unicorns Have Zero Patents; Ola Electric Holds The Highest Number

India's startup ecosystem, the world's third-largest with 117 unicorns, reveals a striking trend: 101 hold no patents. Collectively, these unicorns own just 229 patents, with Ola Electric and Ather Energy holding 63% of them. Ola Electric leads with 99 patents, with plans to invest significantly in research and development. Challenges include the slow Indian patent system and unclear software patent regulations, sparking debate about the need for innovation over merely building valuations.

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Ola Group holds more than half of patents granted to 117 unicorns

Economic Times

Economic Times · 4m ago

Ola Group holds more than half of patents granted to 117 unicorns

Ola Group, encompassing ride-hailing, electric vehicles, and AI, holds over 50% of all patents filed by India's 117 unicorns, despite many unicorns having zero patents. With over 650 applications and 180 granted, Ola Electric leads in filings, particularly in EV innovations. Ola's R&D spending reached 19.3% of its revenue, indicating a commitment to technology creation over mere market capture. Globally, Ola’s patents extend to the US, UK, Japan, China, and Australia.

Paytm Still Has the Highest Chinese Shareholding Among Listed New-Age Unicorns – Outlook Business

OutlookIndia

OutlookIndia · 1m ago

Paytm Still Has the Highest Chinese Shareholding Among Listed New-Age Unicorns – Outlook Business

Paytm, despite reducing its Chinese stake to 5.85% by FY25, still holds the highest Chinese shareholding among listed new-age unicorns in India. Other companies like Swiggy (4.4%), Policybazaar (2.12%), and Zomato (1.95%) have lower percentages, while firms like Ola Electric, Nykaa, and Delhivery have none. Stricter regulations on foreign ownership and geopolitical tensions have led to a decline in Chinese investments in Indian start-ups over recent years.

Ola Electric, FirstCry IPOs give i-banks a fat Rs 241 cr payday

Money Control

Money Control · 1y ago

Ola Electric, FirstCry IPOs give i-banks a fat Rs 241 cr payday

The recent IPOs of Ola Electric and FirstCry in India have resulted in investment banks earning a combined fee of ₹241.41 crore. Ola Electric's IPO generated the highest fee income of ₹145.04 crore, while FirstCry's IPO yielded ₹96.37 crore in fees. These earnings account for nearly 20% of the total fee income from IPOs in 2024. The IPOs have been profitable, with Ola Electric shares gaining 20% on its first trading day and FirstCry shares up by almost 46% at the end of their first day. Overall, IPO bankers have earned a significant amount from IPOs this year compared to the previous year.

SoftBank to exit Ola Electric in thoughtful, gradual way: Juneja

Inshorts · 9m ago

SoftBank to exit Ola Electric in thoughtful, gradual way: Juneja

SoftBank executive Sumer Juneja said the Japanese investment company will make a "thoughtful and gradual exit" from Bhavish Aggarwal-led Ola Electric. "We are in no hurry to exit," he said. SoftBank had invested ₹2,800 crore in the electric bike-maker. As of September 2024, it holds a 17.83% stake in Ola Electric.

India to probe e-scooter maker Ola Electric over service, product standards

Economic Times

Economic Times · 9m ago

India to probe e-scooter maker Ola Electric over service, product standards

India's Central Consumer Protection Authority (CCPA) will investigate Ola Electric, the country's top e-scooter maker, over concerns about service standards and product issues. The investigation comes after the CCPA received a significant number of consumer complaints, prompting Ola Electric to claim that it had already resolved 99.1% of them. Following a review of Ola Electric's response, the CCPA has requested the Bureau of Indian Standards to conduct a detailed investigation into the matter. Ola Electric's shares have declined since its successful market debut in August.

Ola Electric shares surge 6% after Bhavish Aggarwal's post on expansion plans

Economic Times

Economic Times · 9m ago

Ola Electric shares surge 6% after Bhavish Aggarwal's post on expansion plans

Ola Electric plans to expand its retail network, aiming to increase its store count from 800 to 4,000 by the end of December. The company aims to have all the new stores open simultaneously on December 20 across India. However, Ola Electric's sales saw a significant decline in November, dropping over 33% compared to October. The EV market as a whole experienced an 18% decline in November, indicating increasing competition in the sector. Ola Electric currently holds the market leader position with a 37% share year-to-date, but rivals like TVS and Bajaj are gaining ground. In Q2 FY22, Ola Electric reported a narrowing net loss, while revenue from operations increased by 39% year-on-year. However, the company's shares have declined by 27% in the past three months.

Bhavish Aggarwal to earn ₹288 crore from Ola Electric IPO: Report

Inshorts · 1y ago

Bhavish Aggarwal to earn ₹288 crore from Ola Electric IPO: Report

Ola CEO Bhavish Aggarwal could earn ₹288 crore from Ola Electric's ₹6,146-crore IPO, a report said. The IPO, which will open on Friday, has a price band of ₹72-76. Bhavish currently holds over 1.3 billion equity shares in Ola Electric, representing a 36.94% stake. Notably, Ola Electric's investor Z47 will reportedly get 824% returns from the IPO.

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

Economic Times

Economic Times · 1y ago

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

SoftBank, despite refraining from new startup funding in India, still holds $1.1-1.2 billion in shares from its listed portfolio companies. The Japanese investor has sold $1.8-1.9 billion in stakes through public offerings and post-listing sales in Indian startups like Paytm, Zomato, PB Fintech, and Delhivery. SoftBank's strategy aligns with a slowdown in new investments, focusing on secondary sales. With upcoming IPOs of Ola Electric and FirstCry, SoftBank is set to sell stakes worth approximately $180 million and $45-50 million, respectively. SoftBank has invested $15 billion in India, playing a significant role in over 100 unicorns.

Ola likely to hire a veteran Unilever executive as CEO for cab business: Report

Livemint

Livemint · 1y ago

Ola likely to hire a veteran Unilever executive as CEO for cab business: Report

Ola is reportedly set to appoint a new CEO for its cab business, with the potential candidate being a former Unilever executive, possibly Hemant Bakshi, who has experience as the country head of Unilever Indonesia and currently holds a global executive position at Unilever Marketplace in Singapore. Ola has been looking to separate its cab and electric vehicle businesses, and the new CEO would oversee the cab business, while Bhavish Aggarwal focuses on Ola Electric and its IPO plans.

Ola Electric sees record registrations in March; ends FY24 with 115% growth on year

Economic Times

Economic Times · 1y ago

Ola Electric sees record registrations in March; ends FY24 with 115% growth on year

Electric scooter manufacturer Ola Electric has announced a record-breaking 53,000 registrations in March, marking its highest monthly volumes for the fifth consecutive month. The company remains a market leader with 328,785 units registered in FY24, more than double the volumes of the previous fiscal year. Ola Electric is heading for an IPO and has raised significant funding through non-convertible debentures and debt financing. The company is also expanding its product offerings, including launching an electric autorickshaw and working towards manufacturing its own battery cells.

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