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Jeep eyes sub- ₹25 lakh segment to stay 'relevant' in India

LivemintLivemint · 11m ago
Jeep eyes sub- ₹25 lakh segment to stay 'relevant' in India
Medial

Jeep is planning to launch more affordable SUV models in the sub-₹25 lakh segment in India in order to strengthen its position in the market. The brand has struggled due to high prices and the lack of a mass-market product. Shailesh Hazela, MD and CEO of Stellantis India, stated that the plan is on the drawing board and the company is working to understand what works and how to achieve their objective. Jeep may introduce a more affordable variant of the Compass SUV and upgrade its 7-seater SUV, Meridian, to attract a broader customer base. Stellantis is also relying on the Citroen brand to expand its presence in India. Citroen plans to double its dealerships and deepen its presence in tier 2 and tier 3 towns.

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Honasa clarifies quantum of unsold inventory in response to claims by distributors body

YourStoryYourStory · 7m ago
Honasa clarifies quantum of unsold inventory in response to claims by distributors body
Medial

Honasa Consumer, the parent company of Mamaearth, has revealed that its distribution value chain holds an inventory of Rs 40.69 crore, contradicting the All India Consumer Products Distributors Federation's claim of near-expiry inventory valued at Rs 300 crore. The company stated that it has received returns worth Rs 41.21 crore and is in the process of collecting the remaining Rs 21.32 crore from relevant distributors. Honasa successfully transitioned to a direct distribution model, removing super-stockists and sub-distributors, and reduced accounts receivables from Rs 46 crore to Rs 25 crore. The company's shares have been adversely affected by a loss of Rs 18.71 crore in Q2 2024 and a 7% decline in revenue.

HRtech startup Upraised raises Rs 25 lakh by UK-based Pontaq VC

IndianStartupNewsIndianStartupNews · 1y ago
HRtech startup Upraised raises Rs 25 lakh by UK-based Pontaq VC
Medial

Upraised, an HRtech startup based in Kolkata, has secured a funding round of Rs 25 lakh, led by UK-based Pontaq VC and facilitated through the Next Generation Incubation Scheme by Software Technology Park of India (NGIS-STPI). The funding will enable Upraised to enter the US and UK markets, enhance its technology infrastructure, hire new talent, and bolster its marketing efforts. Established in 2021 by Debarya Dutta, Upraised utilizes artificial intelligence (AI) to provide cognitive and aptitude assessments, aligning candidates with suitable job roles. Their machine learning algorithm matches candidates' strengths to relevant projects. Before this, the startup received funding from Pilani Innovation and Entrepreneurship Development Society (PIEDS) and the Nidhi entrepreneurship-in-residence (EIR) grant from the Department of Science and Technology (DST), Government of India, through IIM-Udaipur Incubation Centre.

Andhra eyes Rs 10 lakh Cr investment in clean energy, net zero by 2047

YourStoryYourStory · 9m ago
Andhra eyes Rs 10 lakh Cr investment in clean energy, net zero by 2047
Medial

Andhra Pradesh unveiled a new policy, AP Integrated Clean Energy (ICE) Policy, with the aim of attracting a Rs 10 lakh crore investment in the clean energy sector. The policy offers incentives for investments in solar, wind, and round-the-clock renewable energy projects. The state aims to achieve net zero carbon emissions by 2047 and plans to leverage its vast renewable energy potential, storage capabilities, long coastline, and skilled manpower. The policy includes provisions for land acquisition, power subsidies, and concessions for clean energy projects. It also aims to develop relevant skills through the establishment of a Green Energy and Circular Economy University and a Clean Energy Knowledge & Skill Development Center.

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