Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>, whose business has been severely impacted by the coronavirus pandemic, has seen as much as seven CXO level exits in 2020 alone.</li><li>The latest to leave the company has been Ankit Jain, co-founder of <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> and reportedly one of the closest allies of <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword>. </li><li>In May 2020, Ola had fired 1400 people as a cost cutting measure during the coronavirus pandemic. </li></ul>Indian ride-hailing unicorn Ola has trouble brewing not only because of external factors led by the coronavirus pandemic but is also witnessing a spate of high-level exits in its internal operations. Drivers of Ola and Uber in Delhi-NCR are now threatening to go on a <a href="https://indianexpress.com/article/cities/delhi/ola-uber-threaten-strike-september-1-delhi-ncr-6572135/">strike</a> from September 1 demanding a hike in fares. The drivers are also demanding an extension in moratorium for the repayment of loans, as most drivers have EMIs to pay for the cars but are seeing low number of daily rides. Meanwhile, in 2020 alone, the company has seen seven CXO level exits. The latest being Ankit Jain, co-founder of Ola Electric, according to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/struggling-with-cxo-exits-ola-electric-loses-another-co-founder-as-ankit-jain-quits/articleshow/77656992.cms">an ET report.</a> Recent exits at Ola <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ankit Jain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Co-founder, Ola Electric </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjay Bhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chief Business Officer, Ola Electric </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arun Srinivas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">COO and global chief marketing officer, Ola </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjiv Saddy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senior Vice President, Ola </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naroo Krishnan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Head of products at Ola Mobility </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjay Kharb </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vice president for engineering at Ola </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nitin Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CEO, Ola Financial Services </td></tr></tbody></table> Ola declined to comment on the latest development of Ankit Jain’s exits. Jain had been with the company for over five years and according to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/struggling-with-cxo-exits-ola-electric-loses-another-co-founder-as-ankit-jain-quits/articleshow/77656992.cms">ET,</a> was one of the closest aides of Ola co-founder Bhavish Aggarwal. Jain’s exit leaves two top spots at Ola Electric, the unicorn subsidiary of Ola. Even during the pandemic in May, the subsidiary had acquired Amsterdam-based EV startup Etergo. Ola hits a roadblock Until late last year, Ola was hiring top CXO executives as it was preparing for an IPO by 2021. It was adding experienced people into the fold by hiring for top management level across its subsidiary companies – Ola Electric and Ola Financial services. The startup was also cutting down losses as its standalone losses stood at ₹1,160 crore as of March 2019 – which was half of the ₹2,676.7 crore year before. However, overall the ride hailing business has been severely affected due to the coronavirus pandemic. In May 2020, Ola had fired 1400 people as a cost cutting measure during the coronavirus pandemic. “Our revenue has come down 95% over the past 2 months,” Aggarwal had said in a blogpost in May. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a> <a href="https://www.businessinsider.in/tech/apps/news/tiktok-instagram-and-youtube-data-leak-exposes-data-of-235-million-users/articleshow/77668688.cms">TikTok, Instagram and YouTube data leak exposes data of 235 million users</a>

Ola is facing an external and internal crisis as drivers threaten strike and seven CXOs have exited in past eight months

At least 16 top executives have left Ola in the last two years

<keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>’s own connected car platform <keyword id="3873925" type="UNKNOWN" weightage="20" keywordseo="Ola-Play">Ola Play</keyword>, which is its connected car platform for ridesharing, is now available for all Ola users through the Prime category. 
 
Ola Play, launched in November 2016, had been exclusively available for Ola Select customers until now and the company says that it has highly contributed Ola’s premium subscription category. 
 
<a href="http://www.businessinsider.in/budget-2017-china-is-still-far-ahead-of-india-when-it-comes-to-startups/articleshow/56628904.cms">ALSO READ: China is still far ahead of India when it comes to Startups</a> 
 
Ola has introduced unique innovations like OlaPlay to attract and keep users due to factors like pricing, payments, and value added services and give added competition to the global giant Uber. 
 ‘’Opening up ‘Prime Play’ category for its Select users saw hundreds of thousands of new users opt for the Select subscription, resulting in 3x growth. Beyond offering a highly personal experience for users during their rides,’’ says Ankit <keyword id="6367260" type="PERSON" weightage="20" keywordseo="Jain">Jain</keyword>, Head of Ola Play, Ola in regards to why this category is crucial to the company. 
 Ola Play also allows various partners like <keyword id="6354427" type="CITY" weightage="20" keywordseo="Apple">Apple</keyword> Music, Sony LIV, AIB, TVF, Audio Compass and Fynd, to build a high-quality interactive experience for users. 
 
Jain also shared instances where Ola users took a longer route during their ride,’’Some riders take longer routes to make sure they finish a comedy show episode during their commute.’’ 
 
<a href="http://www.businessinsider.in/budget-2017-what-india-can-take-away-from-uks-startup-friendly-policies/articleshow/56661376.cms">ALSO READ: What India can take away from UK’s startup-friendly policies</a> 
 Jain believes that for the Indian commuter Comedy and <keyword id="4578" type="COMPANY" weightage="20" keywordseo="entertainment">Entertainment</keyword> will be the frontrunner in categories on OlaPlay. 
 
To engage and entertain the rider, seems to be Ola’s motto for this year with Ola Play being available to Ola Select customers alongside exclusively bundled benefits like Free Wifi, no peak pricing and getting priority rides. 
 
<a href="http://www.businessinsider.in/first-anniversary-of-pm-modis-startup-india-hits-misses/articleshow/56674954.cms">ALSO READ: First anniversary of PM Modi’s ‘Startup India’: Hits &amp; Misses</a> 
 
Ola Play is currently available in Bangalore, Mumbai, and Delhi and is expected to be extended to 50,000+ Ola Prime vehicles by March 2017.

Why you would want to take a longer route on your next Ola
Prime ride

<ul><li><keyword id="2904207" type="PERSON" weightage="20" keywordseo="Pranay-Jivrajka">Pranay Jivrajka</keyword>, one of the founding members of <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>, who was running its cloud kitchen vertical, has now left the company.</li><li>Jivrajka was elevated to the position of co-founder last year.</li><li>His reported exit comes as Ola had already seen seven top management exits last year alone.</li></ul>Ola, the Indian ride-hailing unicorn, which has driven its way into the electric vehicle world, continues to see exits in its top management. According to a report by <a href="https://economictimes.indiatimes.com/prime/technology-and-startups/as-bhavish-aggarwal-charts-new-growth-paths-ola-loses-pranay-jivrajka-co-founder-and-ex-coo/primearticleshow/81397859.cms">ET Prime,</a> Pranay Jivrajka, one of the founding members of Ola, who was running its cloud kitchen vertical, has now left the company. Ola confirmed the news to Business Insider, but said that for Jivrajka, who had been in the company for ten years, this was a natural progression. “We thank Pranay (Jivrajka) for his many contributions through the years and wish him the very best for his future endeavors,” said a spokesperson at Ola. Ola, founded in 2010 by Bhavish Aggarwal and Ankit Bhati, counted Jivrajka as one of the most important members of the company. Jivrajka was elevated to the position of co-founder last year. Jivrajka’s reported exit comes as Ola had already seen seven top-level exits last year alone. Exits at Ola in 2020 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ankit Jain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Co-founder, Ola Electric </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjay Bhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chief Business Officer, Ola Electric </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arun Srinivas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">COO and Global Chief marketing Officer, Ola </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjiv Saddy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senior Vice President, Ola </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naroo Krishnan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Head of Products at Ola Mobility </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjay Kharb </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vice President for Engineering at Ola </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nitin Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CEO, Ola Financial Services </td></tr></tbody></table> Ola, which had taken a hit during the COVID-19 pandemic as people stayed home and avoided venturing outdoors, has shifted gears recently. Just a few months after it acquired the Dutch startup Etergo, <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> in December announced a ₹2,400 crore ($320 million) investment plan to set up, what it calls, the <a href="https://www.businessinsider.in/business/auto/news/bhavish-aggarwal-led-ola-showcases-its-first-electric-scooter-aims-to-operate-1-crore-bikes-by-2022/articleshow/81394484.cms">biggest electric scooter </a>manufacturing plant in the Indian state of Tamil Nadu. The plant would have an annual capacity of producing 10 million EVs by 2022, with one scooter being rolled out every two seconds.

Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant

<ul><li>In an email to employees, <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> said that the company plans to hire 2000 people. </li><li>The hires include 1,000 engineers globally over the next quarter and another 1,000 people across other functions.</li><li>Aggarwal also said that the team at <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> is working hard to launch their first electric two-wheeler.</li></ul><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword>, the unicorn subsidiary of ride-hailing giant Ola, is charting out a new roadmap for growth. Ola co-founder Bhavish Aggarwal in an email to employees said that the company plans to hire 2000 people – 1,000 engineers globally over the next quarter and another 1,000 people across other functions. Ola, in the US, had set up an advanced technology center in 2019 which housed engineers who worked on the next-generation technologies in mobility. The news comes at a time when many of Ola Electric’s top bosses have quit, the most recent one being its co-founder Ankit Jain. Meanwhile, Aggarwal also said that an employee referral program will be floated soon. In his email, he also spoke of an organizational restructure, which would include streamlined KRAs, KPIs, and reporting lines to enable “more systematic and structured cross-functional work across the lifecycle of product development.” Aggarwal was referring to Ola Electric’s most recent acquisition – Amsterdam-based EV startup Etergo. Through this acquisition, Ola Electric will now work with the startup to bring their award-winning e-scooters to markets across the world. “Looking forward, our aim is to build electric vehicle products and the required BaaS systems for a global market and across all product segments,” said Aggarwal, who said the future belongs to electric and connected mobility and that the team at Ola is working hard to bring out the electric vehicle soon. Ola Electric is aiming for the over 100 million global two-wheeler market, including the over 20-million Indian two-wheeler market. In July 2019, Ola Electric became a unicorn after it raised $250 million from Softbank. It is also backed by Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March 2019, it raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-is-staring-at-an-internal-crisis-with-seven-cxo-level-exits-in-eight-months/articleshow/77670080.cms">Ola is staring at an internal crisis with seven CXO level exits in eight months</a> <a href="https://www.businessinsider.in/business/news/makemytrip-opens-up-its-hotel-inventory-to-offline-travel-agents/articleshow/77741624.cms">MakeMyTrip opens up its hotel inventory to offline travel agents</a>

Ola Electric plans to hire 2000 —  co-founder Bhavish Aggarwal says electric two-wheeler launch soon

<ul><li><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> has partnered with <keyword id="6399726" type="ORGANIZATION" weightage="20" keywordseo="bses">BSES</keyword> Yamuna Power Limited (BYPL) and BSES Rajdhani Power Limited (BRPL). </li><li>Ola Electric will work with the power utility companies and set up charging stations and battery swapping stations. </li><li>In June, the Delhi government had said that it is running a pilot project testing the use of electric vehicles. </li></ul>Ola’s <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> subsidiary Ola Electric partnered with BSES Yamuna Power (BYPL) and BSES Rajdhani Power (BRPL) to set up charging stations in Delhi. BSES Rajdhani Power is a joint venture of Reliance Infrastructure and Delhi government. With this partnership, Ola Electric will work with utility companies and set up charging and battery swapping stations. “Ola Electric has been working closely with ecosystem partners across the country to facilitate mass adoption of EVs and create solutions to operate with minimal restrictions. This programme further augments our efforts to lay a strong foundation to enable the smooth functioning of EVs across the country by creating a widespread network of charging solutions that vehicle owners and operators can rely on,” said Ankit Jain, co-founder of Ola Electric. In July, Ola Electric became a unicorn after it raised $250 million from Softbank. In May, Ola Electric also raised funds from Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March, it raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Through Ola Electric, the company partnered with several equipment manufacturers and battery manufacturers, while looking to work with the automotive industry for solutions for electric vehicles. Delhi government has been trying to create awareness of EVs. In June, the Delhi government had said that it pilot project testing the use of electric vehicles. With the electric vehicle freight project called Deliver Electric Delhi, 1,000 EVs will be used by 30 players for deliveries over the next 12 months. Some of the high profile participants of this project include Flipkart, Amazon, Bigbasket, Grofers, Uber Eats, Zomato to Hero Electric, Mahindra Electric, Tata Motors and even logistics company Blue Dart Express.

Ola Electric partners with BSES to set up EV charging stations in Delhi

<ul><li>The ride-hailing company’s subsidiary <keyword id="6602160" type="UNKNOWN" weightage="60" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised ₹400 crores from existing investors. </li><li>Ola has raised money 2 days after Mahindra and Mahindra launched its ride-hailing app Glyd which will use electric cars. </li><li>Ola had announced to bring 1 million EVs on Indian roads by 2022. </li></ul><keyword id="4393078" type="PERSON" weightage="40" keywordseo="Ola-Electric">Ola Electric</keyword> Mobility Ltd, a company backed by Ola – India’s unicorn ride hailing app – has raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. The news come just two days after Mahindra and Mahindra announced the launch of its ride hailing service Glyd which would be using only Electric Vehicles (EVs). The subsidiary company had come into being when Ola tried to push its electric mobility program in Nagpur in partnership with Mahindra. While the plan didn’t take off in Nagpur roads with drivers even reportedly returning the vehicles, Ola has stuck to its plan to bring 1 million Electric Vehicles on Indian roads by 2022. This venture seems to be a part of Ola’s bigger plans of doing more than just putting cabs on the roads. Through Ola Electric, the company has already partnered with several OEMs and battery manufacturers, while looking at working with the automotive industry for solutions for electric vehicles. According to the company’s official statement, they are currently running several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, electric 2-wheeler and 3-wheeler services amongst others. “At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola in an official statement. Ola Electric is headed by Anand Shah, a former senior executive from the auto industry, and Ankit Jain, who headed Ola’s connected vehicle platform. While Ola has responded to the Mahindra challenge, it remains to be seen how fast Uber can react to the growing competition. See Also: <a href="https://www.businessinsider.in/uber-and-ola-have-a-new-challenger-in-india-and-its-a-large-car-maker/articleshow/68163955.cms">Uber and Ola have a new challenger in India – and it’s a large car maker</a> <a href="https://www.businessinsider.in/chairman-of-mahindra-group-that-makes-electric-cars-upsells-indias-performance-on-paris-pact-on-climate-change-at-wef-2019-davos/articleshow/67656856.cms">At Davos: India's pioneer electric car maker is pushing for action against climate change</a>

Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?

For startups to grow they must garner funds from investors; and to gather funds, startups need to have a robust product-market fit along with a promising team and a solid business plan with the potential to scale. Then comes the role of angel investors and <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">Venture Capital</keyword> (VC) <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> that usually surfaces when larger amounts are required to grow a business. 
 Lately, major <keyword id="982553" type="UNKNOWN" weightage="100" keywordseo="Indian-startups">Indian startups</keyword> have seen a tremendous boost from venture capitalists. To start with, we saw how Tiger Global Management, Softbank Corp., Morgan Stanley, Sequoia Capital, Accel Partners, IDG Ventures India and SAIF Partners managed to support promising Indian startups like that of Flipkart, Snapdeal, Ola, Zomato, ShopClues, Urban Ladder and many others. Moreover, it is not only the bigger firms who are eyeing VC funds, relatively younger and smaller firms like OYO Rooms, Swiggy and Grofers have also joined the race. 
 Apart from ruling the e-commerce and fashion industry, <keyword id="153868" type="UNKNOWN" weightage="100" keywordseo="VC-funding">VC funding</keyword> is now gradually moving into other sectors too, such as agriculture, healthcare and education. As per the data from the upcoming Wharton India Economic Forum (WIEF), which is all set to launch the Wharton India Startup Competition (WISC) with over 500 entries, though majority of applicants (around 25%) belong to the e-commerce industry, the healthcare segment is not far away with around 22% applicants. Moreover, most of the participating startups already have pre-seeded and seeded funding arrangements and around 31% of them have listed themselves as social enterprises. 
 
The ecosystem for VC funding for Indian startups would be discussed at length at the Wharton India Economic Forum (WIEF). WIEF is a two-day event starting from January 6, 2017, which will bring together the best entrepreneurs, investors, distinguished Wharton faculty, students and inspirational speakers. Attendees will not only have numerous opportunities for interaction and networking across the board but will also witness in-depth discussions in terms of understanding the evolving business landscape in India and the need for business model innovation from the government, various industry leaders, and distinguished Wharton faculty. 
 
The relevance of this summit doesn’t end there. It is also known for hosting the Wharton India Startup Competition (WISC) which is giving Indian startups the opportunity to present themselves in front of an esteemed panel of judges and also win cash prizes of over $25,000 and unparalleled mentorship of up to 4 months from some of the most renowned names in the industry on strategy and funding. The jury for WISC comprises top-notch personalities with the likes of Bharati Jacob (Co-founder of Seedfund), Nipun Mehra (Investor at Sequoia Capital India), Rehan Yar Khan (Managing Partner of Orios Venture Partners), Tarun Davda (Managing Director of Matrix Partners), Aditya Nair (Investor at Nyca Partners), Ajay Hattangdi (CEO India &amp; Group COO of InnoVen Capital Group), Ankit Shah (Vice President at Unilazer Ventures), Sameer Verma (Director &amp; Junior Partner of Nexus Venture Partners), Saurabh Joshi (Strategy Manager at PayPal) and Shantanu Gangal (Head – Analytics at Fundbox). Also, past finalists of this prestigious event includes names such as Ketto, Haptik, Zoomcar, Zostel, Targeting Mantra, Qlicket, Samaan and Ambitioni. 
 
Needless to say, such competitions and summits go a long way in not only promoting upcoming startups but also in educating the audience and the participants regarding the funding scenario. Not many seem to be aware about the types and rounds of funding, the know-how of VC funding and even the right way to go about securing such funds, hence this is surely going to be one the most-sought after events at the start of the next year. 
 
(Image Credits: Thinkstock) 
 
(About the Author: This article has been authored by Aman Jain, Chairperson WIEF 2017)

You Searched For "ankit jain ola" and got 8 results

Ola is facing an external and internal crisis as drivers threaten strike and seven CXOs have exited in past eight months

Sanchita Dash

At least 16 top executives have left Ola in the last two years

Kritti Bhalla

Why you would want to take a longer route on your next Ola Prime ride

Tanya Dubey

Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant

Sanchita Dash

Ola Electric plans to hire 2000 — co-founder Bhavish Aggarwal says electric two-wheeler launch soon

Sanchita Dash

Ola Electric partners with BSES to set up EV charging stations in Delhi

Sanchita Dash

Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?

Sanchita Dash

How VC Funding Fuels the Indian Startup Ecosystem

Guest Author

Popular Keywords

Buying Guides