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News on Medial
Revel, the car subscription startup from Spain, raises $123M to take its business up a gear
TechCrunch
ยท
1y ago
Medial
Spanish startup Revel has secured โฌ115 million ($123 million) in funding, with โฌ100 million allocated for expanding its car subscription service. The company offers a flexible lease agreement that includes insurance and maintenance, targeting consumers who are willing to commit to at least a one-year subscription. The funding comes from a combination of debt and equity, including investments from KKR and Santander Consumer Finance. Revel aims to tap into the growing market for car subscriptions as an alternative to car ownership or traditional leases, offering flexibility and convenience to consumers.
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Revel to lay off 1,000 staff ride-hail drivers, saying they'd rather be contractors anyway
TechCrunch
ยท
1y ago
Medial
New York-based startup Revel, known for its e-moped sharing service, is pivoting once again. After dropping its moped-sharing business in 2023, Revel is now laying off its drivers and adopting a gig worker model similar to that of Lyft and Uber. The move comes after a successful pilot program that showed drivers were attracted to the flexible nature of gig work. Revel will offer drivers the option to rent from its fleet of Teslas at $10 per hour, while also opening up the platform to drivers with their own electric vehicles in 2025.
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Fintech mobility startup Pumpumpum raises Rs 2 crore led by Inflection Point Ventures
IndianStartupNews
ยท
1y ago
Medial
Fintech mobility startup Pumpumpum has raised Rs 2 crore in funding to expand its operations. The funding round was led by Inflection Point Ventures, an angel investment firm. Pumpumpum offers on-demand access to pre-owned cars through a subscription service, revolutionizing the automotive industry. The startup plans to use the capital to enhance its technology, expand geographically, and increase visibility. With a unique approach to car leasing and a wide variety of vehicle options, Pumpumpum aims to make car leasing accessible and affordable for all.
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Finom Raises โฌ50M in Series B Funding
Finsmes
ยท
1y ago
Medial
Amsterdam-based startup Finom has secured โฌ50m in Series B funding to expand its financial solutions platform for entrepreneurs and freelancers. The funding round was led by Northzone and General Catalyst, with participation from other investors. Finom combines accounting, financial management, and banking services into a mobile-first platform. It currently serves over 85,000 SMEs and individual entrepreneurs across multiple European markets, including Germany, and plans to further expand in France, the Netherlands, Spain, and other regions. The company also has regional hubs in Cyprus, Poland, Spain, and Germany.
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DrinkPrime raises $3 Mn from SIDBI Ventures
Entrackr
ยท
1y ago
Medial
DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised $3 million from SIDBI Venture Capital Ltd. (SVCL), an investment management company and a wholly owned subsidiary of SIDBI. The Bengaluru-based startup had raised Rs 60 crore ($7.5 million) in a mix of equity and debt round led by Omidyar Network India, others in July 2022. Prior to that, it raised around Rs 21 crore in its pre-series A round led by Peak XVโs Surge in August 2021. Founded in 2016 by Vijender Reddy and Manas Ranjan Hota, DrinkPrime works towards enabling access to clean drinking water with Internet-of-Things (IoT)-enabled customised water purifiers on subscription to users. DrinkPrime currently provides clean drinking water access to over 2 lakh families across seven cities in India. With further expansion plans, DrinkPrime is also gearing up for its Series B fundraise. According to startup data intelligence platform, TheKredible, DrinkPrime reported an operating revenue of Rs 28.94 crore with a loss of Rs 27 crore in FY23. In the subscription model, DrinkPrime competes with Livpure, Acquaguard and ZunPure.
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Mobility startup Pumpumpum raises Rs 2 Cr led by IPV
Entrackr
ยท
1y ago
Medial
Fintech mobility startup Pumpumpum has raised Rs 2 crore in a new round led by Inflection Point Ventures (IPV). Previously, the startup had raised $2 million in equity from LC Nueva Investment Partners, Founders Room Capital, LetsVenture and others in June 2022. The proceeds will be used for growth in operations, geographical reach, technological advancements, marketing endeavors and overall organizational development. Founded in 2018 by Tarun lawadia and Sameer Kalra, PumPumPum works in B2B2C & B2C pre-owned car leasing model. It offers a subscription-based platform that prioritizes consumer convenience, flexibility, and affordability. Through the integration of technology and data analytics, the firm delivers an easy and personalized experience for accessibility and convenience. Earlier this month, IPV invested in edtech startup MyCaptain in its Rs 14 crore (approximately $1.7 million) new round. Its recent investments include BonV Aero, AllTrak, Onedioss, among others.
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Car services startup Car Easy raises seed funding from ah! Ventures, others
IndianStartupNews
ยท
1y ago
Medial
Car services startup Car Easy has secured an undisclosed amount in a seed funding round led by ah! Ventures Angel Platform, EvolveX, We Founder Circle, and Alaka Capital. The company offers car washing and value-added services to both B2B and B2C clients. The startup, founded by Prathap Simha PV and Himanshu Rath, aims to expand its presence across key Indian cities and pursue sustainable growth, including potential acquisitions.
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Livpure raises $28 Mn from M&G Investments and Ncubate Capital
Entrackr
ยท
11m ago
Medial
Water purifiers and air conditioners manufacturer Livpure has scooped up Rs 208 crore ($25 million) in funding from M&G Investments through its Catalyst investment strategy, and around Rs 25 crore ($3 million) from Ncubate Capital Partners. The proceeds will be used to speed up category expansion, product development, expand offerings, market presence and cater to evolving consumer needs in the home category, Livpure said in a press release. Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers water purifiers, subscription-based water purifiers, air coolers, kitchen appliances, mattresses, and sleep accessories among others. As per startup data intelligence platform TheKredible, Navodhyam Trust (owned by founders) had more than 50% stake in the company as of last funding round followed by Lakshya Holding which had over 10% holding. It has raised nearly $80 million to date. Among the venture capital funded startups, Livpure competes with DrinkPrime which recently raised $3 million led by SIDBI Venture Capital. DrinkPrimeโs other notable investors include Omidyar Network India and Peak XVโs Surge. In the subscription model, Livpure also competes with traditional players such as Eureka Forbesโ Acquaguard and ZunPure. For the fiscal year ended in March 2023, Livpure registered 35% growth in its operating revenue to Rs 294 crore while its losses grew only 10% to Rs 48.62 crore. Water purifiers business has been the key revenue driver for Livpure, and accounted for more than 80% of its total collection. While the company is yet to file an annual report for FY24, it claims to record a 45% growth across all business segments in the first quarter of the ongoing fiscal year (FY25).
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Telecom testing just got cheaper as govt slashes certification fees by up to 95%
Livemint
ยท
7d ago
Medial
India has reduced telecom equipment security certification fees by up to 95% for over 50 product categories, benefiting both global and domestic manufacturers like Nokia, Cisco, and HFCL. This regulatory move aims to ease business compliance for importing or domestically producing telecom and tech products such as routers, 5G gear, and optical fiber cables. However, testing delays remain a concern despite the fee reduction.
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Google says YouTube now has over 100 million subscribers
TechCrunch
ยท
1y ago
Medial
Google announced that YouTube Music and YouTube Premium now have over 100 million paid subscribers, a significant increase from the 80 million paid users reported in November 2022. Sundar Pichai, Google's CEO, revealed that the company's subscription business, including YouTube's paid plans, generates more than $15 billion annually. Philipp Schindler, Google's chief business officer, emphasized that Premium users are providing more value to partners, with each additional sign-up boosting earnings. YouTube has expanded its Premium subscription to over 100 countries. In Q4 2023, YouTube generated $9.2 billion in revenue for Google.
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Kids' clothing and gear is more expensive than ever. Kidsy has a sustainable solution for discounts
TechCrunch
ยท
1y ago
Medial
Chicago-based e-commerce startup Kidsy aims to provide discounted baby and kids products while tackling the issue of overstock and waste. The company partners with large brands, retailers, and liquidation companies to offer their overstock and returned inventory, including clothing, strollers, car seats, toys, travel gear, and nursery furniture. Kidsy's founders, Shraysi Tandon and Sinan Sari, have raised $1 million in pre-seed funding and have seen early success, reaching $1 million in annualized revenue just four months after their beta phase. The company plans to use the funding for expansion, hiring, and implementing artificial intelligence and machine learning.
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