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Invest4Edu raises $3 Mn in seed round from family offices

EntrackrEntrackr · 1y ago
Invest4Edu raises $3 Mn in seed round from family offices
Medial

Invest4Edu, a platform which offers education planning, saving and investment services, has raised $3 million in its seed funding from family offices. The proceeds will be used to ramp up growth and deepen the firm’s impact in the early education planning and financial support domains. Founded by Peeyush Agrawal, Invest4Edu aims to address common anxieties around the rising cost of education, college planning, and long-term payment. Based in Mumbai, Invest4Eduhas claims to have created more than 50,000 user education journeys on the platform within the last year. It has built a network of over 100 business partners across financial services, skill building programs, expert collaborations, and institutional offerings. Through its financial literacy program for youth, the company has trained more than 8,000 young minds on financial literacy, and enabled them to generate work opportunities. The company’s revenue goals include building a $250 million mutual fund AUM and a monthly SIP book of $6 million.

Zero commission model in mobility can increase driver incomes by 30%: ONDC

YourStoryYourStory · 1y ago
Zero commission model in mobility can increase driver incomes by 30%: ONDC
Medial

The Government-backed Open Network for Digital Commerce (ONDC) has released a whitepaper discussing the benefits of its zero commission model for the mobility sector. The report highlights the challenges faced by ride-hailing drivers who pay a percentage of their earnings as commissions to platforms. In contrast, the ONDC's zero commission model, which charges a flat platform fee or a monthly subscription fee starting from as low as Rs 10 per day, allows drivers to retain 100% of their earnings. This could lead to a 30% increase in driver incomes, amounting to Rs 1.36 lakh annually, benefiting approximately 15 lakh drivers across India. The ONDC aims to promote digital inclusion and growth through its open network approach, which prioritizes interoperability and unbundling of services. This model has the potential to generate significant economic impact and tax revenue for the government. The whitepaper also argues for a differentiated approach to applying GST to support the growth of open network zero-commission ride-hailing services.

Zomato becomes first Indian startup to enter Sensex 30

EntrackrEntrackr · 1y ago
Zomato becomes first Indian startup to enter Sensex 30
Medial

Foodtech giant Zomato has made history as the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in the benchmark index of India’s top 30 companies. Zomato's inclusion in the SENSEX follows its strong performance over the past year. The stock has gained 38% in the past six months, 124.79% year-to-date, and 114.29% over the last year. On Monday, following its inclusion in the Sensex 30, Zomato's stock declined by 3.15% (as of 12:28 PM) to Rs 278.70 on the Bombay Stock Exchange, with a total market capitalization of Rs 2.68 lakh crore (approximately $31.9 billion) During the second quarter of the ongoing fiscal year, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore from Rs 2,848 crore in Q2 FY24. The Gurugram-based company also recorded a 4.8X increase in net profit to Rs 176 crore in the quarter ending September. Its arch-rival Swiggy posted Rs 3,601 crore of revenue and a net loss of Rs 625 crore during the second quarter of the current fiscal year. The recently listed firm is currently traded at Rs 592.8 per share and has a total market capitalization of Rs 1,32,695 crore (around $15.8 billion). Zomato also secured $1 billion from qualified institutional investors (QIIs) last month. The money keeps the firm with enough powder for future investments, even as the stock will benefit from index investing now, even though the BSE Sensex remains a smaller representation of India’s investment opportunities than say, the 50 share NSE Nifty. For Zomato, the index inclusion is a massive vindication of its seemingly high risk approach, where it has simply refused to rest on laurels, always pushing the boundaries to seek a competitive edge. Be it the acquisition of Blinkit, edgy communication strategies, or the investments into other startups, the firm has done enough to justify the lofty valuations, and expectations from investors thus far. The recent fundraise has also underscored its readiness to invest and invest big where it sees a need to do so. The sensex inclusion has seemed like a logical move for the pioneering tech firm, and the big question on everyone’s minds will surely be- what next?

Ola Electric clarifies on FIR against CEO and officials over employee’s death

EntrackrEntrackr · 3m ago
Ola Electric clarifies on FIR against CEO and officials over employee’s death
Medial

Ola Electric clarifies on FIR against CEO and officials over employee’s death According to media reports, the Bengaluru police registered a case on October 6, 2025, against Aggarwal, Das, and Ola Electric following a complaint filed by Aravind’s brother. Ola Electric Mobility Limited has responded to media reports and police proceedings connecting its chief executive Bhavish Aggarwal and another senior official Subrat Kumar Dash to the death of an employee, K Aravind, who died by suicide in Bengaluru last month. According to media reports, the Bengaluru police registered a case on October 6, 2025, against Aggarwal, Das, and Ola Electric following a complaint filed by Aravind’s brother. The complaint alleged workplace harassment and financial irregularities after a 28-page handwritten note was recovered from Aravind’s residence, in which he reportedly mentioned instances of stress and non-payment of dues. The 38-year-old engineer, who worked in Ola Electric’s homologation department since 2022, allegedly consumed poison on September 28 and later succumbed at Maharaja Agrasena Hospital. Police initially treated the incident as an unnatural death but later converted it into a case under the provisions of the Bharatiya Nyaya Sanhita related to abetment of suicide. The family also highlighted a transfer of Rs 17.46 lakh to Aravind’s account two days after his death, terming it suspicious. In its regulatory filing on October 21, Ola Electric expressed condolences to the family and said Aravind had not raised any complaints about his employment or working conditions during his tenure. The company said it had immediately processed his final settlement to support the family and maintained that Aravind’s role did not involve direct engagement with the top management. Ola Electric also stated that the FIR has been legally challenged before the Karnataka High Court, which has granted protective relief to its officials, and that it continues to cooperate fully with the ongoing investigation. Ola Electric emphasized that no chargesheet has been filed so far and that the case does not qualify as a material event requiring disclosure under SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. The company said it would provide further updates to the exchanges if required by law.

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