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<keyword id="22416554" type="General" weightage="20" keywordseo="EV-ride-hailing" source="keywords">EV ride-hailing</keyword> services and charging infrastructure network operator <keyword id="20354062" type="General" weightage="100" keywordseo="BluSmart" source="keywords" meta.keywordsubtype="org" meta.entityname="BluSmart" meta.hostid="261" meta.entityid="BluSmart">BluSmart</keyword> on Monday said it has raised USD 24 million (Rs 200 crore) capital in a <keyword id="20080855" type="General" weightage="20" keywordseo="funding-round" source="keywords">funding round</keyword>. The pre-Series B funding round saw participation from existing investors like responsAbility Investments AG as well as new investors such as Sumant Sinha, Chairman and CEO of ReNew, and <keyword id="22416555" type="General" weightage="20" keywordseo="MS-Dhoni-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="MS Dhoni Family Office" meta.hostid="261" meta.entityid="MS Dhoni Family Office">MS Dhoni Family Office</keyword>. The funds will support BluSmart in expanding its operations and building <keyword id="5933706" type="General" weightage="20" keywordseo="EV-charging-infrastructure" source="Orion">EV charging infrastructure</keyword> and assets in mega Indian cities, the company said. "Our latest fundraise of USD 24 million is an important step in our journey to scale the e-mobility fleet and <keyword id="3378793" type="General" weightage="20" keywordseo="EV-charging" source="Orion">EV charging</keyword> infrastructure," BluSmart co-founder Punit Goyal said. The company is building an integrated energy-infrastructure, mobility and technology company to take full advantage of the EV revolution, he added. "Investing in BluSmart's sustainable business model is not just about supporting a company; it's about being part of a movement that shapes the future of mobility," Dhoni, veteran cricketer, said.

EV ride-hailing firm BluSmart raises USD 24 million

French carmaker <keyword id="20312151" type="General" weightage="20" keywordseo="citroen" source="keywords">Citroen</keyword> on Monday said it will supply 4,000 units of its electric vehicle <keyword id="16079223" type="General" weightage="100" keywordseo="e-C3" source="Orion">e-C3</keyword> to <keyword id="20125728" type="General" weightage="20" keywordseo="blusmart-mobility" source="keywords">BluSmart Mobility</keyword>, over a period of 12 months. Citroen and <keyword id="20354062" type="General" weightage="20" keywordseo="blusmart" source="keywords">BluSmart</keyword> Mobility, a vertically integrated eMobility ride-hailing and EV charging service provider, have signed a memorandum of understanding for the same. As part of the initial phase, 125 Citroen e-C3 were flagged off from BluSmart's EV charging superhub in Bengaluru, the company said in a statement. "This collaborative effort between Citroen and BluSmart Mobility signifies a shared vision for a sustainable future in the realm of electric mobility, reaffirming our commitment to shaping a cleaner and greener transportation ecosystem," <keyword id="20964798" type="General" weightage="20" keywordseo="citroen-india-brand" source="keywords">Citroen India Brand</keyword> Director, <keyword id="20565839" type="General" weightage="20" keywordseo="shishir-mishra" source="keywords">Shishir Mishra</keyword> said. He further said, "BluSmart's foray in the shared electric mobility space is a well applauded initiative that offers convenient and safe urban mobility without any tailpipe emission strengthening our collective mission to decarbonise cities by making EVs mainstream." The e-C3 features such as an operational range of 320 kms as per Automotive Research Association of India (ARAI), fast charging capabilities, and intuitive technology, make it an attractive proposition for passengers and fleet operators, Mishra added. BluSmart Co-founder &amp; CEO Anmol Jaggi said, "As more Original Equipment Manufacturers (OEMs) embrace eMobility, and our fleet size expands, we are poised to address the burgeoning demand for ride-hailing services in Indian megacities while offering riders a diverse range of advanced EVs." SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/poco-x6-neo-5g-vs-redmi-note-13-5g-which-phone-should-you-buy-under-20000/slidelist/108586427.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/poco-x6-neo-5g-vs-redmi-note-13-5g-which-phone-should-you-buy-under-20000/slidelist/108586427.cms" target="_blank">Poco X6 Neo 5G vs Redmi Note 13 5G – Which phone should you buy under ₹20,000?</a><a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms" target="_blank">New EV Policy: Elon Musk’s Tesla may soon enter India as import taxes slashed for electric vehicles</a><a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-under-30000-in-india/slidelist/108472033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-under-30000-in-india/slidelist/108472033.cms" target="_blank">Best smartphones under ₹30,000 in India</a>

Citroen to supply 4,000 units of EV e-C3 to BluSmart Mobility in 12 months

Leading EV ride-hailing and charging provider <keyword id="9621652" type="General" weightage="20" keywordseo="BluSmart-Mobility" source="Orion">BluSmart Mobility</keyword> on Thursday said it has raised $42 million in the recent round and will continue to build on its vision of decarbonising the future of transportation in the country. The latest round included an equity round of $37 million and venture debt of $5 million which saw participation from existing energy investors, with almost 50 per cent of the round being subscribed by the BluSmart founders and leadership team. With an all-electric ride-hailing fleet size of 3,500 EVs currently operating in Delhi-NCR and Bengaluru, BluSmart plans to have 10,000 EVs in FY24. "The electrification of public transportation is imminent but the path to electrification has its own challenges. BluSmart tackles these challenges through an integrated and full-stack approach, optimally using and maintaining the EV ride-hailing fleet at scale," said Anmol Singh Jaggi, Co-founder and CEO, BluSmart Mobility. BluSmart's monthly revenue has grown 3 times over the last three quarters and to scale further this funding round will be utilised to penetrate deeper into mega cities, expansion of fleet capacity to 10,000 over the next 1 year. BluSmart recently secured the largest EV asset financing of Rs 633 crore in India, backed by the Power Finance Corporation (PFC), which will add 5,000 EVs to BluSmart's growing fully-electric ride-hailing fleet. "We are focused on sustainability and profitability with a larger purpose to accelerate EV adoption and reverse climate change." said Tushar Garg, Co-founder and Chief Business Officer, BluSmart Mobility. BluSmart has raised $109 million across rounds which includes an equity raise of $85 million. It has also received EV asset leasing of $150 million (Rs 1,200 crore) backed by Development Financial Institutions like PFC, IREDA among others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hiring-in-it-companies-like-tcs-wipro-infosys-hcl-tech-plunges-by-66-in-fy23/articleshow/99960690.cms">Hiring in the IT sector plunges by 66% in FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/titan-q4-net-profit-rises-50-to-734-crore-as-wedding-segment-makes-a-comeback/articleshow/99964029.cms">Titan Q4 net profit rises 50% to ₹734 crore as wedding segment makes a comeback</a>

BluSmart Mobility raises $42 mn to boost its EV operations in India

<ul><li><keyword id="9349591" type="General" weightage="100" keywordseo="blusmart" source="Orion">BluSmart</keyword> is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025.</li><li>Back in 20221, <keyword id="15125737" type="General" weightage="20" keywordseo="Jio-BP-and-BluSmart" source="Orion">Jio-BP and BluSmart</keyword> joined hands to set up EV charging stations in India.</li><li>BluSmart has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR, according to the company.</li></ul>As India rides on the EV bandwagon with the government promoting several use cases, BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025. Rishabh Sood, CTO, BluSmart, told IANS that from a charging infrastructure perspective, both state and central government responses have been great and have floated many projects on a PPP basis. With the ever-growing customer base, Sood added, it is imperative to have BluSmart's services up and running with zero downtime and for this, the startup relies on various AWS services to build a strong foundation. Here are the excerpts from an interview: Q: What is BluSmart's USP? How do you differentiate yourself from other players in the <keyword id="6744459" type="General" weightage="20" keywordseo="EV-fleet" source="Orion">EV fleet</keyword> landscape? A: BluSmart is the only ride hailing service in the country that ensures zero emission, zero surge and zero ride denials to its customers and zero financial investment from its driver partners. We believe the source of our sustainable competitive advantage is that we have built multiple small MOATs around various parts of the business, which are collectively keeping us ahead of the curve. On the customer end, by solving for the core issue of hassles of ride booking, cancellations, surge and unclean cars we have been able to build a very loyal customer base. This hassle free experience of zero surge, zero cancellation and clean cars with courteous drivers being achieved every day repeatedly is starting to become a habit. On the driver end, by solving for the core issue of driver partners' inability to buy, own and maintain assets, we have been able to build loyalties on the drier partner side, which is immensely important since they are the brand custodians on the roads and are the ones who uphold the brand promise every time. On the technology side, by solving for the core issue of "fuel being a constraint" with EVs as against ICE powered vehicles where the ride-hails tech historically has not been required to worry about the fuel inside the car. Building a technology backend which is born electric and takes a full stack approach towards solving for ride matching at scale where no human is required to take decisions and the technology optimally guides the drivers right from picking up customers to reaching the nearest EV charging stations when running out of charge. On the partner ecosystem side, by solving for the core issue of having partners who have a purpose and a vision that feeds into each other's ambitions. Having partners like BP Ventures who come with the right global experience around energy and team building. Having partners like JioBP, which is a JV between Reliance and BP in India and having the backing of the largest enterprise in India in building more EV charging infra. Having partners like Tata Motors, who have decades of experience in automobiles and have taken the right stand when it comes to EVs and is able to support the growth ambitions of BluSmart. Q: For India to achieve its vision of reducing emission intensity by 45 per cent by 2030 and reach the net-zero target by 2070, EV would have to go mainstream. What are some of the biggest roadblocks you see today in India, be it in the manufacturing, EV financing, regulatory and policy landscape? A: The country has faced supply and delivery challenges in the past in getting EVs from leading OEMs around the country due to the semiconductor chip crisis in the past 3 years. Since, the supply chain and semiconductor issues have now started to relax, we are seeing an accelerated movement towards vehicle production and delivery. We believe that the manufacturing of EVs needs to be scaled up massively to support the increased adoption of EVs which in turn will lead to economies of scale. Also entry of established players into the EV industry will provide a variety of options to the common man. From a charging infrastructure perspective, both state and central government response have been great and have floated many projects on a PPP basis. We have also partnered up with giants such as Jio BP to help our expansion plans and create more charging infrastructure. Ramping up of charging infrastructure will play a key role in achieving net zero emission. Q: Tell us about the scale of your operations/size of EV fleet in India and your projected growth trajectory over the next 5 years? A: BluSmart currently operates an electric fleet of 2,200+ EVs on its platform. BluSmart Mobility is the most preferred mode of public transportation across Delhi NCR having completed 2.5 million+ all electric trips, covering over 86 million+ clean kms with over 900,000+ app downloads with an app rating of 4.9 out of 5.0 in the last year. It has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR. On September 26, 2022, BluSmart expanded geographically and started its operations in Bengaluru as its second city. BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on our platform by 2025. Q: What has AWS and cloud technology enabled you to do better? A: AWS is our trusted cloud partner for its feature rich and highly performant ecosystem of diversified services. With the ever growing customer base, it is imperative to have BluSmart's services up and running with zero downtime and this is where Amazon CloudWatch helps to preemptively learn metrics breach and remediate the same automatically. BluSmart uses Amazon Aurora, which is designed for exceptionally high performance and availability at a global scale with full MySQL and PostgreSQL compatibility. We adopted Aurora because it gives us the ability to manage our data at a large scale without having to deal with maintenance and optimizations at our end. At BluSmart every decision we make is driven by data hence we wanted a petabyte-scale data warehouse service that makes it simple and cost-effective to efficiently analyze data using existing business intelligence tools therefore we decided to go with Amazon Redshift as it provides constant monitoring of operations, logs, auditing, and traceability. We discovered key improvements in cost and performance for improving speed to market and operational efficiency. During our peak demand periods, we rely on AWS Autoscaling to handle high surge in requests by scaling containers and Database read replicas to provide seamless and elated customer experience. We at BluSmart are focused on the security of our data, infrastructure and resources and we rely on various AWS security services to build a strong foundation. We will continue to explore further on AWS in the future, adding new features and capabilities along the way. Q. In terms of business outcomes, what benefits have you experienced because of running on AWS? Please provide metrics where applicable: A: We have been able to bring efficiency in handling the demand and process performance by reducing the effort of self managing and monitoring the infrastructure. Without having to spend time on infrastructure engineering, developers are able to focus on the core product development which helps us reach the market faster. Usage of autoscaling to handle the load of peak and non peak demands efficiently by dynamic scaling up and scaling down of cloud infra on an intraday basis provided a significant cost advantage over maintaining a dedicated infra for peak loads. Further, periodic snapshots, data replication and disaster recovery strategy helps us mitigate data and infrastructure risks. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/no-hirings-more-layoffs-soon-mark-zuckerberg-to-employees/articleshow/94548917.cms">No hirings, more layoffs soon: Mark Zuckerberg to employees</a> <a href="https://www.businessinsider.in/tech/news/best-amazon-sale-deals-on-laptops-from-lenovo-asus-dell-hp-msi-and-more/articleshow/94359105.cms">Amazon Great Indian Festival Sale: Best deals on laptops from Lenovo, Asus, Dell, HP, MSI and more</a>

BluSmart to set up EV charging infra projects across India in PPP mode

<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> will deliver 10,000 XPRES T EVs to BluSmart Electric Mobility.</li><li>The vehicle would be used across the country for commuters.</li><li>BluSmart had pr<keyword id="186291" type="General" weightage="20" keywordseo="ev" source="Orion">ev</keyword>iously ordered 3,500 XPRESS T EV in October last year.</li></ul>Automobile giant Tata Motors has bagged India’s biggest electric vehicle (EV) fleet order of 10,000 vehicles from BluSmart Electric Mobility. As a part of the agreement, Tata Motors will deliver 10,000 XPRES T EVs to this Deepika Padukone-backed all-electric cab service company. BluSmart Electric Mobility had previously ordered 3,500 XPRESS T EV in October last year and the current order is an addition to this. The vehicle — which was launched last July exclusively for fleet customers — would be used across the country for commuters. It packs a high energy density battery of 21.5 kilowatt-hour (kWh) and 16.5 kWh and can be charged from 0- 80% in 90 mins and 110 mins, respectively. “Our XPRES-T EV fleet offers an optimal battery size along with a captive fast charging solution and has already set benchmarks in its category. Tata Motors is constantly working towards educating and enhancing the adoption of electric mobility in India and we hope that more people join us in this journey as we mobilize the nation,” Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. Tata Motors — which manufactures TATA Nexon EV and Tata Tigor EV — claims to be leading the e-mobility wave in India with a commanding market share of 87%. It sold 25,000 EVs in the fiscal year 2022. BluSmart Electric Mobility was founded in 2019 by Anmol Jaggi, Puneet Singh Jaggi and Punit Goyal. The company has raised $67 million to date from marquee investors Alteria Capital, Stride Ventures and BlackSoil as investors. The three-year-old startup aised <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/blusmart-raises-usd-50-million-in-extended-series-a-round-to-rapidly-scale-its-e-fleet/91758760">$50 million </a>last month to expand across Delhi NCR and other metro cities. The company claims to have covered 50 million clean kilometers and delivered over 1.6 million zero-emission rides. “We are building a large-scale integrated EV mobility ecosystem in India - from the country's largest fully-electric ride hailing service to the largest network of EV charging super hubs. With the increasing fleet size we are leading India on the path to reliable, sustainable and zero-emissions mobility and also creating more inclusive and economic opportunities for driver partners,” said Anmol Singh Jaggi, co-founder at BluSmart Electric Mobility. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/dmart-owner-radhakrishna-damani-loses-5-bn-as-even-essentials-become-too-expensive-for-indians/articleshow/92031475.cms">DMart owner Radhakrishna Damani loses $5 bn as even essentials become too expensive for Indians</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a> <a href="https://www.businessinsider.in/business/news/inox-leisure-pvr-has-high-hopes-from-its-future-but-its-mostly-based-on-good-movies/articleshow/91980544.cms">Brahmastra, Laal Singh Chaddha and Avatar — movies that can determine the fortunes of INOX and PVR</a>

Tata Motors bags India’s biggest EV fleet order from cab company BluSmart

While <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> and tech-enabled logistics company <keyword id="67819" type="General" weightage="20" keywordseo="porter" source="Orion">Porter</keyword> scored zero on a scale of 1-10, <keyword id="1042120" type="General" weightage="20" keywordseo="uber" source="Orion">Uber</keyword> and <keyword id="3275685" type="General" weightage="20" keywordseo="dunzo" source="Orion">Dunzo</keyword> received only one point, according to the 'Fairwork India 2023' report, spearheaded by the Centre for IT and Public Policy (CITAPP) at International Institute of Information Technology Bangalore (IIIT-B), in association with Oxford University. The report evaluated 12 platforms offering location-based services in sectors such as domestic and personal care, logistics, food delivery and transportation, in the country. This year, the report was structured around the theme of discrimination and alienation that often come up in experiences shared by platform workers. In a year that has seen the formulation of a significant regulation based on inputs from workers called The Rajasthan Platform Based <keyword id="7771650" type="General" weightage="20" keywordseo="gig-workers" source="Orion">Gig workers</keyword> (Registration and Welfare Act, 2023, "we hope that highlighting the experiences of workers will point to the structural changes that platforms, consumers and the state alike will need to undertake if the platform economy is to offer its workers decent work," said Professors Balaji Parthasarathy and Janaki Srinivasan, principal investigators. Fairwork assessed platforms against five principles: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation. Each principle was broken down into two points: a first point and a second point that can only be awarded if the first point has been fulfilled. The report looked at 12 platforms, including Amazon Flex, Bigbasket, BluSmart, Dunzo, Flipkart, Ola, Porter, Swiggy, Uber, Urban Company, Zepto and Zomato. No platform scored more than six out of the maximum of 10 points, and none scored all the first points across the five principles. In its first year of participation, ride-hailing platform aggregator BluSmart scored higher than more established platforms in its sector, with 5 points out of 10. "There is room for cautious optimism that BluSmart's operational model might represent a step towards better conditions for drivers in the platform economy," the report mentioned. Bigbasket, Flipkart and Urban Company were the only platforms with a minimum wage policy to ensure that all their workers earn at least the hourly local minimum wage after factoring in work-related costs. "No platform made the second point of the Fair Pay principle, which requires platforms to provide sufficient evidence that workers earn at least the local living wage after work-related costs," the findings showed. Under the 'Fair Conditions' principle of providing adequate safety equipment and periodic safety training to their workers, Bigbasket, Swiggy, Urban Company, Zepto and Zomato were awarded the second point. Bigbasket, BluSmart, Urban Company, Zepto, and Zomato met the requirements for the second point under 'Fair Contracts' by adopting a change notification clause in their contracts, reducing asymmetries in liability, adopting a code of conduct for their subcontractors, and making the variables of pricing transparent where dynamic pricing was used. Under the 'Fair Management' principle, there was sufficient evidence only from BluSmart and Swiggy to meet the second point. "No platform could be awarded a point for 'Fair Representation' principle this year," said the report.

Ola, Porter, Uber & Dunzo worst digital platforms for gig workers: Report

<ul><li><keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> has signed a memorandum of understanding (MoU) with cab aggregator <keyword id="1042120" type="General" weightage="100" keywordseo="uber" source="Orion">Uber</keyword> to supply 25,000 XPRES-T electric cars. </li><li>Uber will integrate these cars in its premium category service, the two companies said in a joint statement. </li><li>Uber will kick off the electrification of its fleet in Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad. </li></ul>Tata Motors has signed a memorandum of understanding (MoU) with cab aggregator Uber to supply 25,000 XPRES-T electric cars. Uber will integrate these cars in its premium category service, the two companies said in a joint statement on Monday. Uber will kick off the electrification of its fleet in Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad. The deliveries of the XPRES-T electric car from Tata Motors will start this month, and the induction in Uber’s fleet will be done in a phased manner. “Offering customers our environmentally friendly electric vehicle (EV) ride experiences via Uber’s Premium Category service, will accelerate the adoption of green and clean personal ride sharing. The XPRES-T EV is a very attractive option both for customers and operators,” said Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. Tata Motors’ shares closed higher amid a wider market decline, gaining 0.7% to close at ₹443 a piece. The company’s stock has gained 12% in 2023 so far. <cmsannotation type="cmsannotation" annotationid="50,000 EVs rolled out so far, says Tata Motors" comment="subhead" text="50,000 EVs rolled out so far, says Tata Motors">50,000 EVs rolled out so far, says Tata Motors</cmsannotation> Tata Motors said that it has rolled out 50,000 EVs from its manufacturing plants till date across the personal mobility and fleet segments. “This partnership will further cement our market position in the fleet segment,” Chandra added. The company launched the <keyword id="13603230" type="General" weightage="80" keywordseo="xpres" source="Orion">XPRES</keyword> electric car brand in 2021 exclusively for fleet operators. The XRES-T EV is the first car under this brand and comes in two range options – 277 kilometres and 315 kilometres. Since it is aimed at fleet operators, it can charge from 0-80% in 59 minutes. “Uber is committed to bringing sustainable, shared mobility to India, and this partnership with Tata Motors is a major milestone on that journey. It represents the largest EV partnership yet between an automaker and a ridesharing platform in India,” said Prabhjeet Singh, president, Uber India and South Asia. In addition to fast charging, the XPRES-T can also be charged using a standard 15 amp plug point, providing flexibility to Uber and its driver partners. Recently, Ola founder and chief executive officer Bhavish Aggarwal said that the cab aggregator was planning to launch a fleet of 10,000 electric cars. BluSmart, another cab operator, has a 100% electric vehicle fleet – which currently stands at 2,200 cars. It operates in Gurugram, and areas of Delhi and Bengaluru. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-group-stocks-meltdown-continues-on-monday/articleshow/98084715.cms">Adani group stocks meltdown continues on Monday – Adani Enterprises sees the biggest decline</a> <a href="https://www.businessinsider.in/finance/news/inflation-expected-to-cool-down-but-economists-expect-another-rate-hike-after-january-shocker/articleshow/97983231.cms">Inflation expected to cool down but economists expect another rate hike after January shocker</a> <a href="https://www.businessinsider.in/business/corporates/news/maggi-kitkat-maker-nestle-india-reports-highest-domestic-growth-in-a-decade-in-fy22/articleshow/97974283.cms">Maggi &amp; KitKat maker Nestle India reports highest domestic growth in a decade in FY22</a>

Tata Motors and Uber sign MoU to induct 25,000 XPRES-T electric cars

<ul><li>Venture debt firm <keyword id="9353689" type="General" weightage="100" keywordseo="stride-ventures" source="Orion">Stride Ventures</keyword> sanctioned over ₹1600 crore to over 70 companies across various sectors. </li><li>Strides has diverse investments across sectors such as consumer, fintech, agritech, B2B commerce, healthtech and more. </li><li>Venture debt disbursed in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> last year stood at $538 million. </li></ul> Venture debt firm Stride Ventures today closed its Stride Ventures India Fund II after raising $200 million. The fund’s portfolio includes startups like CredAvenue (<keyword id="14257101" type="General" weightage="50" keywordseo="yubi" source="Orion">Yubi</keyword>), <keyword id="3030142" type="General" weightage="50" keywordseo="myglamm" source="Orion">MyGlamm</keyword>, <keyword id="12437554" type="General" weightage="20" keywordseo="zepto" source="Orion">Zepto</keyword>, BluSmart and more. Stride said that the new fund saw participation from leading banks, marquee family offices, corporate treasuries, sovereign funds, PE funds, insurance firms and HNIs. "The growing investor trust in the Indian start-up ecosystem provided us with a great opportunity to develop a strong pipeline of deployments that we have utilized across various sectors. Stride Ventures goal is to continue being a preferred lender while developing innovative alternate financing solutions for founders,” said <keyword id="13803875" type="General" weightage="50" keywordseo="ishpreet-singh-gandhi" source="Orion">Ishpreet Singh Gandhi</keyword>, founder and managing partner at Stride Ventures. The fund saw its first close back in August 2021. Strides has diverse investments across sectors such as consumer, fin-tech, agri-tech, B2B commerce, health-tech, B2B SaaS, mobility &amp; energy solutions (EV). It has sanctioned over ₹1600 crore to over 70 companies across these verticals. “The current economic environment has made growing businesses more amenable to debt transactions than ever before, giving India's venture lending industry a chance to grow and evolve,” added <keyword id="1946603" type="General" weightage="50" keywordseo="apoorva-sharma" source="Orion">Apoorva Sharma</keyword>, partner at Stride Ventures. According to an India Venture Debt <a href="https://s3.ap-south-1.amazonaws.com/www.strideventures.in/Stride+Ventures+India+Debt+Report+2022.pdf">Report</a> 2022, the firm released in May, venture debt disbursals stood at $538 million last year. The fund facilitated joint-lending structures with leading banks over three years. It claims to have built innovative alternate financing solutions within venture debt for founders to allocate capital efficiently. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/akasa-air-has-enough-capital-to-induct-72-aircraft-thanks-to-rakesh-jhunjhunwalas-visionary-role-says-ceo/articleshow/93616737.cms">Akasa Air has enough capital to induct 72 aircraft thanks to Rakesh Jhunjhunwala’s visionary role, says CEO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/workplace-recognition-and-not-salary-is-top-criteria-for-job-seekers-in-india-report/articleshow/93615940.cms">Workplace recognition, and not salary, is top criteria for job seekers in India: report</a>

Venture debt firm Stride Ventures closes a $200 million fund

<cmsannotation type="cmsannotation" annotationid="summary" comment="summary" text="As the onset of the new year beckons us towards new beginnings, Business Insider India invites you to experience our innovations — a showcase of new editorial initiatives, products and brand partnerships from 2022 which have helped leading global companies engage with our select audience. These activities have established the foundation for our unique editorial mission around sustainability, personal finance, and enterprise tech which delivered sharp, incisive and compelling content to our readers. This year, we look forward to collaborating with you on your brand journey and help you emulate the same success that our longstanding partners have achieved.">As the onset of the new year beckons us towards new beginnings, Business Insider India invites you to experience our innovations — a showcase of new editorial initiatives, products and brand partnerships from 2022 which have helped leading global companies engage with our select audience. These activities have established the foundation for our unique editorial mission around sustainability, personal finance, and enterprise tech which delivered sharp, incisive and compelling content to our readers. This year, we look forward to collaborating with you on your brand journey and help you emulate the same success that our longstanding partners have achieved.</cmsannotation> <cmsannotation type="cmsannotation" annotationid="summary" comment="summary" text="Dive in to discover our success stories and drop us a line to harness the very best of Business Insider India’s creative approaches.">Dive in to discover our success stories and drop us a line to harness the very best of Business Insider India’s creative approaches.</cmsannotation> <bulletContentEmbed name="Sustainability Insider" columns="1"><bulletContentHeading name="Sustainability Insider_head"> <div type="image" title="Sustainability Insider" msid="97128329" hostid="261" caption="&amp;lt;p&amp;gt;Sustainability Insider&amp;lt;/p&amp;gt;"></div></columnHeadThumb><keyword id="14107500" type="General" weightage="20" keywordseo="Sustainability-Insider" source="Orion">Sustainability Insider</keyword></columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Sustainability Insider_body"><bulletContentRow name="Sustainability Insider_1673794911834810"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">2023 and beyond… Environment, Social and Governance (ESG) will take the centre stage. Our ESG focussed programming segment - Sustainability Insider sharpens the focus on people, companies and ideas which are making this world a better place. Sustainability Insider’s marquee event, the <keyword id="9906589" type="General" weightage="20" keywordseo="World-EV-Day" source="Orion">World EV Day</keyword> webinar in September showcased industry veterans and thought leaders through and engaged large audiences across the website and social channels. Read more <a href="https://www.businessinsider.in/sustainability">here</a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[right]]></payload></bulletContentEmbed> <bulletContentEmbed name="left_image" columns="1"><bulletContentHeading name="left_image_head"> <div type="image" title="EV_IG (1)" msid="96686566" hostid="261"></div></columnHeadThumb>SUPERCHARGING WORLD EV DAY</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="left_image_body"><bulletContentRow name="left_image_8476256729899678"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Business Insider India September 2022 curated a special episode on the World EV Day. The Virtual panel, shifting Gears; Evaluating the Road to Sustainability featured Dr. Raji Mathi, Director, Automative Research Association of India (ARAI); Anmol Jaggi, CEO, BluSmart Mobility; Suhas Rajkumar, Founder and CEO, Simple Energy; and Anshul Khandelwal, Chief Marketing &amp; Revenue Officer, Ola Group. The group highlighted the challenges and opportunities of fast-tracking EV adoption in India. Watch the feature <a href="https://www.businessinsider.in/sustainability/article/sustainability-forum-shifting-gears-evaluating-the-road-to-sustainable-mobility/articleshow/94248881.cms">here</a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[left]]></payload></bulletContentEmbed> <bulletContentEmbed name="left_image" columns="1"><bulletContentHeading name="left_image_head"><div type="image" title="Quiz Image" msid="96687183" hostid="261"></div></columnHeadThumb>PRODUCT INNOVATION INTERACTIVE QUIZ</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="left_image_body"><bulletContentRow name="left_image_2671779128491774"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Interactivity came to the fore as Business as Business Insider India launched the interactive quiz, drawing audiences to engage with the platform and test their acumen on all things sustainability. you can also participate in the quiz and see how you stack up when it comes to sustainability. Click <a href="https://www.businessinsider.in/sustainability/news/lok-sabha-approves-energy-conservation-bill-to-accelerate-climate-action-opens-multi-billion-dollar-carbon-market/articleshow/93479684.cms">here</a> to take the quiz</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[left]]></payload></bulletContentEmbed> <bulletContentEmbed name="right_image" columns="1"><bulletContentHeading name="right_image_head"> <div type="image" title="saasscions_roundup" msid="96702847" hostid="261"></div></columnHeadThumb>MARQUEE BRAND INNOVATION VIA INSIDER STODIOS-</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="right_image_body"><bulletContentRow name="right_image_6519875174873057"><bulletContentRowHeading><bulletContentRowHead col="1">SAAS SCIONS FOR AWS</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Business Insider India partnered with AWS to custom create SaaS Scions, a content IP six-part series featuring visionaries in the SaaS space who have catalysed the SaaS domain globally. The series features the country's best known SaaS founders in conversation with AWS' leaders and shines a spotlight on India's growth story while capturing the thinking and vision of India's SaaS scions. Featured guests include Girish Mathrubootham, Jay Vijayan, Sandeep Gupta and Beerud Sheth.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[right]]></payload></bulletContentEmbed> <bulletContentEmbed name="Money Insider | Season 2 | COMING SOON on Business Insider" columns="1"><bulletContentHeading name="Money Insider | Season 2 | COMING SOON on Business Insider_head"> <div type="image" title="Money Insider" msid="97127935" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;sup&amp;gt;&amp;lt;/sup&amp;gt;Money Insider&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Money Insider | Season 2 | COMING SOON on Business Insider</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Money Insider | Season 2 | COMING SOON on Business Insider_body"><bulletContentRow name="Money Insider | Season 2 | COMING SOON on Business Insider_8003104820832338"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The best of financial insights from the country’s most creative voices! Business Insider India’s Money Insider brings together the country’s leading ‘Fin-fluencers’ who are heralding a new beginning in the world of financial literacy. Catch insights, bust myths, share a chuckle as you learn more about investing, insurance, home-buying, credit cards, planning taxes and all things personal finance.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[left]]></payload></bulletContentEmbed> <bulletContentEmbed name="Decoding Season 1’s performance success" columns="1"><bulletContentHeading name="Decoding Season 1’s performance success_head"> <div type="image" title="Decoding Season 1’s performance success" msid="97128114" hostid="261" caption="&amp;lt;p&amp;gt;Decoding Season 1&amp;#8217;s performance success&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Decoding Season 1’s performance success</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Decoding Season 1’s performance success_body"><bulletContentRow name="Decoding Season 1’s performance success_0072309969741672"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Money Insider tapped right into the current trend of financial literacy among Millennials and GenZ. It approached influencers such as Mandeep Gill, Raj Shamani, Ashna Tolkar, Neha Nagar, Shashank Udapa and Abhiraj &amp; Niyati to curate concise, crisp and educational content to fit in perfectly with Instagram's current demand for extensive information quickly. With a mix of these strategies, Money Insider hit over 2+ million views on Instagram and will be back soon to help you take control of your personal finances and make smart money decisions.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[right]]></payload></bulletContentEmbed> <bulletContentEmbed name="Partner with Us" columns="1"><bulletContentHeading name="Partner with Us_head"> <div type="image" title="Partner with Us" msid="97128159" hostid="261" caption="&amp;lt;p&amp;gt;Partner with Us&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Partner with Us</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Partner with Us_body"><bulletContentRow name="Partner with Us_3017289699399519"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Thank you for joining us on this overview of Business Insider India innovations. We are proud of our content teams and their diverse expertise of the Insider Studios’ creative leads in building bespoke content for our partners. And this new year, we welcome you to explore our range of offerings to help you grow your business. You can reach us at: <a href="mailto:advertise@businessinsider.in">advertise@businessinsider.in</a>. We wish you the very best as you step into 2023.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[right]]></payload></bulletContentEmbed>

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<ul><li><keyword id="15097710" type="General" weightage="20" keywordseo="Angel-investment-platform-IPV" source="Orion">Angel investment platform IPV</keyword> has 7,295 investors on its platform.</li><li>Average investments of these angel investors is anywhere between Rs 5-7 lakh a year</li><li>More than 10% of IPV’s investments are in startups spread across Tier 2 and 3 towns</li></ul>Technology has democratised many businesses that were earlier the preserve of a few. Angel investing is one such business that has now become relatively more transparent compared to earlier times and even investors with a ticket size of ₹2.5 lakh a year can now become angel investors. The fallout of this is that great businesses and smart founders now have many more avenues to raise capital without the usual runaround. It is this philosophy that is the driving force behind the four-year-old <keyword id="15097711" type="General" weightage="20" keywordseo="angel-funding-platform" source="Orion">angel funding platform</keyword> <keyword id="7036829" type="General" weightage="20" keywordseo="Inflection-Point-Ventures" source="Orion">Inflection Point Ventures</keyword> (IPV). Vinay Bansal, CEO and founder of IPV, discovered some obvious pain points that both investors and startup founders faced for the smallest of funding rounds. While the process was tedious for the founders, lack of clarity was a big issue for angel investors. These problems also resulted in a low success rate of <keyword id="2023759" type="General" weightage="20" keywordseo="startups-in-india" source="Orion">startups in India</keyword>. IPV set out to resolve all three issues with its own unique propositions. “We decided to solve these problems and started investing in a few startups with a sharp focus so that the founders could grow. We also provided them with mentorships. Some of these startups include the likes of Milk Basket and Fitso that went on to become very successful.” IPV decided to do things differently to improve the success rate of startups in India, which also improved returns for investors. In less than four years, IPV has invested in 140 companies and the IRRs (internal rate of returns) are significantly higher compared to many others. India has spawned many unicorns in the last three years, as the pandemic led to innovative models to solve problems thrown up by the lockdowns. India saw 44 unicorns emerge in 2021 and the trend continues in 2022, albeit at a slower pace. Interestingly, the startup bug is not just restricted to the big cities. Today, there’s a startup in each of the 625 districts of India and 50% of these come from Tier 2 and Tier 3 towns. IPV is one of the few players that has had its eyes on such players since 2020. Nearly 10% of its portfolio companies come from the hinterland. Born in 2019, this platform has funded some very interesting startups that nobody was willing to bet on – these were from India’s Tier 2 and Tier 3 cities, but were solving problems that are unique to the country’s hinterland. The venture platform is agnostic to sector, stage and geography in which the startup is in. What matters to IPV is the quality of the founder, idea and valuation. “Great people can come from anywhere and we took bets on startups nobody was betting on back in 2020. We go by great ideas that can come from anywhere, which is why we funded BluSmart in Ahmedabad and Multibhashi from Jaipur. These founders are sharp, smart and hardworking to their core,” explains Bansal. Thanks to ventures like IPV, television shows like Shark Tank and a media blitzkrieg are helping more startups in Tier 2 and Tier 3 towns. What also makes IPV unique is that its model of raising capital is more broad-based, which is why its investments are not held hostage by any funding winter or moves made by the Federal Reserve. “We want to continue to democratise investments for average Indians who have a ticket size of ₹5 lakh.” The platform has 7,295 investors on its platform and it continues to grow. “The way we set ourselves up was to be different from others. We were able to fund even during the pandemic and all these investments are between Series B and D today. We went against the market in 2021 and started exiting from our investments. We don’t work on the dry powder concept as we get funds from salaried investors. Over the last couple of months we have cut million dollar cheques. Winters are good for us as we get access to good companies at better valuations. We have to overcome our fear of investing when others are not,” says Bansal. The average ticket size that the angel investors cut out each year ranges between ₹5-7 lakh. IPV’s investors come from not just India but also from other countries. To invest, all that the angel investors need to do is fill a form and get started. The process is equally easy for startups that need funding. IPV replies to founders within 20 days of sending an application. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-headed-lower-as-rbi-intervention-unlikely-to-be-aggressive/articleshow/94473133.cms">Rupee headed lower as RBI intervention unlikely to be “aggressive’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-take-a-breather-after-huge-sell-off-on-monday/articleshow/94468819.cms">Indian markets take a breather after huge sell-off on Monday</a>

Inflection Point Ventures’ focus on great founders takes it to Tier 2 & 3 towns

The app economy has inspired an ‘on-demand’ self-service culture among all kinds of consumers. The <keyword id="5948524" type="General" weightage="20" keywordseo="B2B-sector" source="Orion">B2B sector</keyword> is no exception and brands are responding to the changing customer demands through Direct-to-consumer models. The way brands connect and engage with their customers has changed significantly in the last two years. The digital-first era is transforming conventional buying patterns and behaviours. Customers across segments – whether it’s B2B or B2C – are expecting digital-first, personal and connected experiences as they consume products and services. As a part of this shift, digital commerce or e-commerce has been sweeping the B2B segment lately. According to a McKinsey report, nearly two-thirds of B2B companies across industry sectors now offer e-commerce capabilities. That is an extraordinary number for an industry which has preferred in-person sales so far. This was an inevitable change. But, something more interesting is happening to the B2B space – the emergence of the <keyword id="4055555" type="General" weightage="20" keywordseo="D2C" source="Orion">D2C</keyword> or direct-to-consumer model. What was once considered an exclusive domain for B2C brands is now helping B2B companies explore new possibilities. Key drivers The global pandemic was vital for the growth of the direct-to-customer approach in the B2B segment. It propelled a rapid shift to the digital way of working and compelled companies to launch apps &amp; services at lightning speed. This marked a stark change in what was perceived by buyers as “good enough”. B2B buyers are therefore taking on the habits of B2C buyers, which has shaken some legacy business models and thought processes. A study conducted by TrustRadius in 2021 found that millennials comprise 60% of today’s B2B technology buyers. This generational shift has already moved the needle for B2B e-commerce with a 200% growth in D2C purchases between 2019 and 2020 (source: Salesforce). Adobe CEO Shantanu Narayen emphasized, saying “making the digital economy personal” is a matter of greatest importance to businesses. Adoption of D2C models is helping businesses get this ‘experience’ part right, experts argue. Adoption of digital sales channels have helped brands enhance customer relationships, reach out to more customers and improve the overall competitive advantage. For the successful implementation of D2C models, brands must focus on three key areas Become data-driven: B2B brands understand the power of data in creating compelling D2C models. Throughout the digital buying cycle, data must be leveraged to create a compelling experience for corporate buyers. But brands are grappling with the challenge of fragmented data sets, legacy technologies and siloed approaches in this journey. Moreover, gaining customer insights become a challenge as B2B companies have historically preferred indirect sales channels which distanced them for end-users. The D2C space is highly competitive and brands must focus on data and customer insights for decision-making. B2C brands can learn a thing or two from their B2C counterparts on how to be data-driven. Predictive analytics, AI/ML and customer insights solutions can help brands understand customer behaviour, brand perception and create a 360 degree view of the buyers. Take it personal: Personalized experience has become a universal ask. Successful brands have excelled in gathering customer insights and transforming them into personalized interactions and service offerings. Buyers want real-time responses and digital experiences while brands must also focus on providing this at scale. Metaverse has already shown that the lines between physical and virtual words are blurring. The app economy has inspired an ‘on-demand’ self-service culture and B2B brands must prepare to cater to the growing customer demand through D2C models. Website personalization, short buying cycles, proactivity and the ability to provide a connected experience are a few things that brands must prioritize. Leverage Tech: From AI-powered live search to product recommendation engine to digital signatures, technology is the backbone of building a D2C strategy. Digital experience platforms are growing in popularity among brands that strive to provide a cohesive CX (customer experience). Experts recommend taking a ‘composable’ and software-driven approach while building an ecommerce platform and the underlying tech stack to be able to evolve as you move along. Increasingly, brands are embracing a tech-first, digital-native model of being. D2C strategies will help them pivot to the future more quickly. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/stock-market/news/lic-stocks-if-you-want-to-predict-this-stock-prices-look-how-the-stock-market-moves/articleshow/92040939.cms">If you want to predict LIC stock prices, look how the stock market moves</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/auto/news/tata-motors-bags-indias-biggest-ev-fleet-order-from-cab-company-blusmart/articleshow/92035478.cms">Tata Motors bags India’s biggest EV fleet order from cab company BluSmart</a>

You Searched For "BluSmart" and got 11 results

EV ride-hailing firm BluSmart raises USD 24 million

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BluSmart Mobility raises $42 mn to boost its EV operations in India

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Boost your brand with Business Insider India

Inflection Point Ventures’ focus on great founders takes it to Tier 2 & 3 towns

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The tech-driven shift to D2C in the B2B sector

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