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<ul><li>Nashik-based EV startup <keyword id="14083003" type="General" weightage="100" keywordseo="revamp-moto" source="Orion">Revamp Moto</keyword> received an investment of ₹1 crore from <keyword id="158171" type="General" weightage="20" keywordseo="aman-gupta" source="Orion">Aman Gupta</keyword> and <keyword id="127971" type="General" weightage="20" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> in Shark Tank India.</li><li>Ashneer Grover also claims to have invested in Revamp Moto after the show.</li><li>The company recently launched the RM Buddie 25, which it claimed to be the country’s first <keyword id="15986770" type="General" weightage="20" keywordseo="transformable-ev" source="Orion">transformable EV</keyword>.</li></ul>Revamp Moto, a Nashik-based EV startup, became popular after getting an investment of ₹1 crore from boAt co-founder Aman Gupta and Shaadi.com founder Anupam Mittal during Season 1 of Shark Tank India. The electric vehicle market in India has become highly competitive, with brands like Ola, TVS, Ather, and others competing for market share. While many options are available if you are looking for electric scooters, the market does not offer much for hawkers, vendors, delivery executives, and other workers. <cmsannotation type="cmsannotation" annotationid="Revamp Moto – founders and product" comment="subhead" text="Revamp Moto – founders and product">Revamp Moto – founders and product</cmsannotation> Revamp Moto was founded by Jayesh Tope, Pushkaraj Salunke and Pritesh Mahajan. The trio showcased the Revamp Mitra, a modular EV that comes with ten attachments, at the show. During the show, the company also spoke about the RM 25, a prototype at that time. <cmsannotation type="cmsannotation" annotationid="Shark Tank deal" comment="subhead" text="Shark Tank deal">Shark Tank deal</cmsannotation> Revamp Moto appeared on Shark Tank seeking an investment of ₹1 crore for a 1% share at a valuation of ₹100 crore. After a close fight between BharatPE cofounder Ashneer Grover and the duo of Aman Gupta and Anupam Mittal, Revamp Moto accepted the offer from Gupta and Mittal. The duo invested ₹1 crore in the company for a 1.5% stake at a valuation of ₹66.67 crore. <cmsannotation type="cmsannotation" annotationid="Ashneer Grover invests in Revamp Moto" comment="subhead" text="Ashneer Grover invests in Revamp Moto">Ashneer Grover invests in Revamp Moto</cmsannotation> Despite losing the deal to Gupta and Mittal during Shark Tank, Grover invested in Revamp Moto after the show. During an interview with Raj Shamani, Grover revealed that he was approached by the founders of Revamp Moto for an investment. <cmsannotation type="cmsannotation" annotationid="Revamp Moto raises $1 million" comment="subhead" text="Revamp Moto raises $1 million">Revamp Moto raises $1 million</cmsannotation> Revamp Moto raised $1 million (approx. ₹8.3 crore) in a pre-seed funding round led by Veda VC and Venture Catalysts. The round also saw participation from angel investors such as Ashneer Grover, Peyush Bansal, Deven Bhandari, Aman Gupta, and Anupam Mittal. In addition, there have been reports that the company is planning on raising an additional $3 million to ramp up production. <cmsannotation type="cmsannotation" annotationid="RM Buddie 25 – first transformable EV in India" comment="subhead" text="RM Buddie 25 – first transformable EV in India">RM Buddie 25 – first transformable EV in India</cmsannotation> Revamp Moto finally launched the RM Buddie 25 in December 2022. To recall, the scooter was showcased as the prototype RM25 during Shark Tank India. <div type="image" title="RM Buddie 25" msid="96790904" hostid="261" sizebytes="30026" caption="&amp;lt;p&amp;gt;RM Buddie 25&amp;lt;/p&amp;gt;"></div> The RM Buddie 25 was launched with a price tag of ₹66,999 and was dubbed as “India’s first transformable EV” by the company. The company has started accepting bookings for the scooter for ₹999 and deliveries are expected to begin in April 2023. The company is manufacturing the scooter at its facility in Thane. During the Shark Tank pitch, the company claimed that 90 to 95% of the vehicle is made in India. <cmsannotation type="cmsannotation" annotationid="RM Buddie 25 attachments" comment="subhead" text="RM Buddie 25 attachments">RM Buddie 25 attachments</cmsannotation> The main highlight of the RM Buddie 25 is its attachments. The company is currently offering the following attachments – <ol><li>Base rack</li><li>Carrier</li><li>Child seat</li><li>Insulated box</li><li>Saddle stay and bag</li></ol><cmsannotation type="cmsannotation" annotationid="RM Buddie features" comment="subhead" text="RM Buddie features">RM Buddie features</cmsannotation> The RM Buddie 25 comes with a range of 70 km on a single charge and offers a top speed of 25 km per hour, which means the vehicle does not require any registration as per government guidelines. Similarly, the rider is not required to have a license. Revamp has claimed that the RM Buddie 25 can be fully charged in 2 hours and 45 minutes. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ottobot-yeti-an-unmanned-delivery-robot-that-can-deliver-products-even-when-you-are-not-at-home/articleshow/96784804.cms">Ottobot Yeti, an unmanned delivery robot that can deliver products even when you are not at home</a> <a href="https://www.businessinsider.in/tech/news/after-iphone-14-android-phones-will-soon-support-satellite-messaging-starting-with-qualcomms-snapdragon-8-gen-2-chip/articleshow/96756368.cms">After iPhone 14, Android phones will soon support satellite messaging, starting with Qualcomm’s Snapdragon 8 Gen 2 chip</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-oneplus-11-5g-may-be-cheaper-than-the-oneplus-10-pro-in-india-price-specs-and-india-launch-date/articleshow/96734971.cms">OnePlus 11 5G may be cheaper than the OnePlus 10 Pro in India – price, specs, and India launch date</a>

Shark Tank S1 winner Revamp Moto launches an EV that lets you add a child seat, freezer box and more

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersU.S. President Donald Trump speaks about lowering drug prices with Health and Human Services Secretary Alex Azar from the Rose Garden at the White House.</div></div></div>Hello,Hope everyone had a restful 4th! I spent the weekend at a friend's lake with my dog who loves to swim (he's been very sleepy this week). With the benefit of a day or two off, the Business Insider healthcare team was ready to hit the ground running with all the news that came our way this week: from <a href="https://www.businessinsider.com/trump-executive-order-on-kidney-care-transplants-and-home-dialysis-2019-7">kidney initiatives</a> coming out of Washington, to <a href="https://www.businessinsider.com/health-startup-nurx-new-home-tests-for-stis-gonorrhea-chlamydia-2019-5">Nurx's launch of STD kits</a>, to an <a href="https://www.businessinsider.com/merck-hiv-drug-implant-prevention-and-treatment-2019-4">HIV drug's move into late-stage trials</a>, and of course the <a href="https://markets.businessinsider.com/news/stocks/cvs-cigna-drug-plan-pbm-stock-price-reaction-white-house-decision-2019-7-1028346388">nixed rebate rule plans</a> also coming from our nation's capital. More on that in a few. But first, are you new to our <a href="https://www.businessinsider.com/category/dispensed">newsletter</a>? You <a href="http://newsletter.businessinsider.com/join/health-insider">can sign up for Dispensed here</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Hollis Johnson / Business InsiderThe microbiome testing company uBiome has come under scrutiny after an FBI raid.</div></div></div>First up, the biggest news we were tracking this week was the layoffs at microbiome-testing company uBiome. We've been <a href="https://www.businessinsider.com/ubiome-what-we-know-microbiome-startup-fbi-raid-ceos-resigned-2019-7">chronicling the troubles at the company for a few months</a> now, since an FBI raid of the company's headquarters in late April.On Wednesday, the new executives heading the company let half of its 229 employees go, a significant chunk of which were a part of the company's Latin America operations. <a href="https://www.businessinsider.com/author/erin-brodwin">Erin Brodwin</a> was there on the scene to hear reactions from those who had been laid off. <h3><a href="https://www.businessinsider.com/poop-testing-startup-ubiome-is-laying-off-114-employees-2019-7">'A s--- show': uBiome just cut half its staff as the troubled poop-testing startup searches for a path forward after an FBI raid</a></h3>Some of my favorite tidbits she picked up: one employee was playing the classic Phil Collins song "You'll Be In My Heart." Another, in reference to a payroll error that accidentally alerted some employees they had been laid off, said aloud, "It was a s--- show on Monday, it's a s--- show today." A number of key employees at the company were let go on Wednesday, including the laboratory director, which meant that uBiome had to <a href="https://www.businessinsider.com/ubiome-halts-explorer-test-sample-processing-after-laying-off-workers-2019-7">stop running its remaining test, the Explorer, Erin reported late Wednesday.</a> Just catching up on uBiome? <a href="https://www.businessinsider.com/ubiome-what-we-know-microbiome-startup-fbi-raid-ceos-resigned-2019-7">You can find more of our coverage of the troubled startup here</a>. Back to the rebate rule - the news came Thursday that the Trump administration wasn't going to go forward with a proposed rule that would ban rebate payments drugmakers make to drug plans. That puts drugmakers in a tricky spot, <a href="https://www.businessinsider.com/author/emma-court">Emma Court</a> reports. <h3><a href="https://www.businessinsider.com/trump-administration-pulling-rebate-ban-could-put-pharma-at-risk-2019-7">Drug companies have a 'target on their back and very few friends to protect them' after a shift from the Trump administration. 3 could be especially at risk.</a></h3><ul><li>The Trump administration has backed off a key part of its plan to bring down US drug prices.</li><li>That puts pharmaceutical companies at risk from another Trump administration proposal that focuses on the much lower prices that other countries pay for drugs, the Veda Partners analyst Spencer Perlman said.</li><li>Especially threatened by such a policy are drugmakers like the Swiss pharma giant Roche and the biopharmaceutical companies Amgen and Regeneron, according to Perlman.</li></ul>Over on the West Coast, Microsoft made an <a href="https://www.businessinsider.com/microsofts-healthcare-partnership-strategy-for-its-cloud-ai-business-2019-7">interesting announcement</a> this week, that it's striking up a "strategic alliance" with Providence St. Joseph Health, a $24 billion health system in its neck of the woods.It prompted me to take a closer look at Microsoft's healthcare partnership strategy, given its deals with Walgreens earlier in 2019 and retailers Kroger and Walmart last year. I spoke to PSJH CEO Rod Hochman and Microsoft's Peter Lee to learn more. <div class="KonaFilter image-container display-table"><div><div class="image on-image">MicrosoftMicrosoft's Peter Lee.</div></div></div><h3><a href="https://www.businessinsider.com/microsofts-healthcare-partnership-strategy-for-its-cloud-ai-business-2019-7">Microsoft is forging alliances with the likes of Walgreens and a massive hospital system in its own backyard to win a bigger piece of an $11 billion market</a></h3>In the world of startups, Erin had a great piece she's been working on for some time about investments in mental health. She found a group of startups trying new ways to increase access to mental healthcare in the US. <h3><a href="https://www.businessinsider.com/mental-health-barriers-startups-venture-evidence-2019-6">VCs in the hottest part of healthcare explain why the time is ripe for a mental health funding boom</a></h3><ul><li>The state of mental healthcare in the US is critical.</li><li>Suicides and other so-called "deaths of despair" are skyrocketing, but few people can get therapy thanks to cumbersome insurance policies and a national therapist shortage.</li><li>A fresh crop of Silicon Valley startups is trying something new. Before sending patients to traditional therapy, companies like One Medical and Modern Health are offering help in the form of primary care and virtual, text-based coaching.</li><li>The basic idea is to treat mental healthcare more like physical healthcare.</li></ul>Throughout the course of the week, we had some thoughtful interviews with healthcare leaders: <ul><li>Emma and I spoke to Krishna Yeshwant and David Schenkein at GV (formerly Google Ventures). <a href="https://www.businessinsider.com/gv-life-sciences-leaders-on-investing-in-pharma-clinical-trials-2019-7">They explained why they're looking closely at investments that tackle the modernization of clinical trials</a>. </li><li>I spoke with Todd Latz, the CEO of urgent care company GoHealth. <a href="https://www.businessinsider.com/gohealth-ceo-todd-latz-future-of-urgent-care-challenges-threats-2019-7">We talked about the threats facing the future of the market. </a></li><li>Clarrie spoke to Lisa Suennen, a longtime healthcare VC. <a href="https://www.businessinsider.com/lisa-suennens-rules-for-healthcare-investors-and-startups-2019-7">Suennen had shared on Twitter her 13 rules for investing in healthcare, and Clarrie got the full story of why the rules are important to keep in mind</a>. It's definitely a good reminder for companies, investors (and reporters like me!).</li><li>Emma asked <a href="https://www.businessinsider.com/cancer-researcher-jim-allisons-career-advice-for-young-scientists-2019-7">Nobel Prize-winner Jim Allison for his career advice to young scientists. </a></li></ul>As always, be sure to send your thoughts on where the Trump administration goes from here on bringing down healthcare costs and tips to the healthcare team at healthcare@businessinsider.com. You can reach me directly at lramsey@businessinsider.com. With that, I hope you enjoy your summer weekend. It's my first in New York in four weeks, so I'm planning to put it to good use, staking out the farmers markets and hanging out in the park. - Lydia <a href="https://www.businessinsider.com/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/animated-map-where-american-accents-come-from-2018-5">Animated map shows where American accents came from</a></h3> <div> </div> </div>

Dispensed: Layoffs at uBiome, why mental health funding is booming, and Microsoft's bet on partnerships with Walgreens and Providence

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Flickr / Barney Moss</div></div></div>Prime Finance is Business Insider's midday summary of the top stories of the past 24 hours. To sign up, scroll to the bottom of this page and click 'Get updates in your inbox.'Hedge funds are having a tough time of it. Bluecrest Capital, which was once one of the largest hedge funds in the world, announced Tuesday it would <a href="http://www.businessinsider.com/michael-platts-bluecrest-to-return-outside-money-2015-12">return outside capital to investors,</a> while Tiger Veda Management, a so-called Tiger Cub hedge fund, is <a href="http://www.businessinsider.com/tiger-veda-hedge-fund-to-close-2015-11">shutting down after 11 years</a>. David Einhorn's hedge fund <a href="http://www.businessinsider.com/greenlight-capital-down-20-percent-2015-12">has dropped 20.6% this year</a>.David Tepper, founder of Appaloosa Management, sent out a<a href="http://www.businessinsider.com/tepper-terraform-power-letter-2015-12"> rare</a><a href="http://www.businessinsider.com/tepper-terraform-power-letter-2015-12">, public letter to the board of one of his holdings</a>, meanwhile.In other Wall Street news, bond investors are getting excited about the <a href="http://www.businessinsider.com/investors-fear-is-opportunity-2015-11">the prospect of reduced liquidity in the fixed-income markets</a>, and the CEO of online lending startup SoFi has said he <a href="http://www.businessinsider.com/sofi-valuation-ceo-cagney-2015-11">is targeting a $30 billion valuation</a>.Here are the top Wall Street headlines at midday -<a href="http://www.businessinsider.com/wells-fargo-federal-reserve-overreaching-regulation-2015-12">The biggest bank in the US is miffed at the Federal Reserve</a> - Wells Fargo may have to raise $60 billion in debt to offset potential losses in the event of another financial crisis.<a href="http://www.businessinsider.com/tiger-global-raised-capital-for-new-vc-fund2015-12">Tiger Global just raised $2.5 billion for a new VC fund</a> - This is Tiger Global's tenth venture capital fund, and it will be called Tiger Global Private Investment Partners X, L.P. <a href="http://www.businessinsider.com/the-most-common-college-major-on-wall-street-2015-11">The most popular college major for Wall Street </a>- Ever wonder which college major is most likely to get you a job on Wall Street? <a href="http://www.businessinsider.com/us-energy-revolution-charts-2015-11">The American energy story in 10 charts</a> - In just a matter of years, the American "energy renaissance" has made the region a leader in global oil.<a href="http://www.businessinsider.com/socgen-calls-for-end-of-the-bull-market-2015-12">THE END IS NEAR: A top Wall Street strategist believes the global bull market will end in 2017</a> - Societe Generale is out with a call for the end of the global stock bull market: 2017.<a href="http://www.businessinsider.com/most-popular-degrees-on-wall-street-2015-11">An MBA isn't as important as you might think for building a career on Wall Street</a> - It turns out that MBA degrees are very common at the upper levels within investment banks - but they don't dominate.<a href="http://www.businessinsider.com/tiger-veda-hedge-fund-to-close-2015-11">A 'Tiger Cub' hedge fund seeded by Julian Robertson is closing</a> - Tiger Veda Management, a so-called Tiger Cub hedge fund, is shutting down after 11 years, according to a memo sent to clients from the fund's CEO.<a href="http://www.businessinsider.com/sallie-krawcheck-on-finance-and-startups-2015-11">A former Wall Street rainmaker says running a bank is a 'breeze' compared with a startup</a> - That's according to <a href="http://www.businessinsider.com/everything-you-need-to-know-about-sallie-krawcheck-2012-11?op=1">Sallie Krawcheck</a>, one of the most recognizable women on Wall Street.<a href="http://www.businessinsider.com/why-executives-at-unicorns-are-closely-watching-ipos-2015-11">Here's why executives at unicorns are closely watching IPOs at other companies</a> - When you're an executive at a "unicorn," a privately held company that has reached a valuation of at least $1 billion, you pay a lot of attention to the initial public offerings of other companies. Elsewhere on the web -<a href="http://www.wsj.com/articles/j-p-morgan-hires-were-referred-by-china-ipo-clients-1448910715">J.P. Morgan Hired Friends, Family of Leaders at 75% of Major Chinese Firms It Took Public in Hong Kong - The Wall Street Journal</a><a href="http://www.bloomberg.com/news/articles/2015-12-01/citadel-hires-zeng-from-citigroup-to-start-cds-market-making">Citadel Hires Zeng From Citigroup to Start CDS Market Making - Bloomberg</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/middle-east-unrest-coincides-drought-jeff-sachs-2015-11">Jeff Sachs: Here's why the Middle East is going to get a lot worse</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tiNzFmdDpTcRlNSgrwmi5GTEMOiTEOwn" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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Shark Tank S1 winner Revamp Moto launches an EV that lets you add a child seat, freezer box and more

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Dispensed: Layoffs at uBiome, why mental health funding is booming, and Microsoft's bet on partnerships with Walgreens and Providence

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