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Ola Launching 100,000 Electric Vehicles In The Next 12 Months

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Ola Launching 100000 Electric Vehicles In Next 12 Months,Startup Stories,2018 Latest Business News,Startup News India,Ola Launch Electric Vehicles,Mission Electric Program,Electric Cabs Vehicle,Ola Introduce Electric Three Wheelers,Ola Business News,Ola Cab Electric Vehicles

The SoftBank backed cab aggregator, Ola, announced its plan of adding 100,000 electric cars to its existing fleet. With a majority of these e vehicles being electric rickshaws, the cab aggregator wants to get this process sorted within the next 12 months as a part of the Mission Electric program.

The Bengaluru based company is aiming to get one million electric vehicles on its platform by 2021, to boost the electric vehicle ecosystem in the Country. “Three wheelers are a vital means of transportation and a source of livelihood for millions of people every day. It also represents an immediate opportunity to improve outcomes for all stakeholders while reducing pollution across towns and cities,” Bhavish Aggarwal, Ola co founder and CEO said in a statement.

Ola launched its first pilot electric vehicle program on 26 May, 2017. These pilot vehicles included electric cabs, electric auto rickshaws, electric buses, rooftop solar installations, charging stations, and battery swapping experiments. However, the pilot vehicles failed to take off when they were launched. According to several reports, Ola cab drivers did not like the long waiting time and said the charging centres were not sufficient.

Furthermore, the report also said the drivers wanted to go back to the electric vehicles. More than a dozen electric car drivers of the 20 drivers interviewed in Nagpur, have either returned their electric taxis and switched to diesel, or are planning to do so. Ola also faced several other hurdles with electric vehicles and was even forced to close one following protests from residents angered by traffic jams caused by the taxi drivers.

“The EV program in Nagpur has provided Ola with significant insights into effectively managing vehicles, batteries, and operations. The company plans to continue its experimentation with ways to optimize batteries and charging, to develop a strong business model for EV deployment in the country” the company said in a statement.

The Bengaluru based cab aggregator has also said it is in talks with several state governments to make sure the electric vehicles are deployed properly. The policies used are going to make sure the electric three wheelers are going to be as per the environmental regulations.

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  1. Elmertjd

    January 26, 2025 at 2:22 pm

    Van der Graaf’s bewitchment began in 1974, when he was just eight years old as well as watched ABBA win the Eurovision Tune Competition, organized that year in Brighton, with the memorable ‘Waterloo’. She says: ‘I truly hope Sabre will certainly motivate and also equip the more youthful generation of strong qualified women simply as the gladiators I once saw motivated me to be a confident athletic women. Some females might also have different worths relating to dating and also partnerships based on these differences. On the various other hand as part of Asian culture politeness and being helpful in the direction of life partner have actually come to be deep rooted qualities of Asian women. On-line dating systems are valuable for all participants of the procedure – guys who are looking for a clever as well as attractive wife, as well as ladies that intend to find an encouraging and reputable spouse. The website has greater than 600,000 members and superb dating attributes. Conceding that they had actually had a partnership, she said she had actually caught ‘a very extreme focus from him, as well as after a while I felt I might not withstand anymore. As a result of the prominent nature of their relationship, there is most likely to be substantial public rate of interest in their dissolution and also youngster custodianship issues.

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    A few days later on, van der Graaf says, Agnetha sent her garden enthusiast to his cabin to state she liked his letter as well as ask him to send out more. 3 years later on, after plenty of futile searching goals, he transferred to Sweden. He has been servicing this documentary for two or 3 years. From buying and also working to dating and vacationing, the internet is utilized one means or an additional during bring our everyday tasks. Additionally, it is crucial to be conscious of the threats connected with online dating, such as catfishing as well as scams. While communicating and dating, ladies from Eastern countries are used to a respectful perspective. You must ask the production business because they are the ones that assume this is something enjoyable,’ he informed me acidly, branding the rebirth of one of the most perturbing and, in several ways, embarrassing chapter of Agnetha’s life as ‘insane’. He maintains Agnetha’s handwritten replies to his letters by way of evidence. He obtained ₤ 45,000 to acquire a ramshackle wood cabin just half a mile from Agnetha’s residence as well as located job with a local staffing company.

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Jio Financial Services Introduces Digital Loans Against Securities

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Jio Financial Services, through its NBFC arm Jio Finance Limited, has launched a fully digital Loan Against Securities (LAS) service. This innovative offering allows customers to secure loans up to ₹1 crore against their shares and mutual funds within just 10 minutes via the JioFinance app.

 

Key Features:

  • Digital Process: Entirely online for speed and convenience.
  • Loan Amount: Up to ₹1 crore.
  • Interest Rates: Starting at 9.99%, tailored to individual risk profiles.
  • Tenure: Maximum of three years.
  • No Foreclosure Charges: Flexible repayment options.

Strategic Impact:

The LAS offering aligns with Jio Financial’s broader digital strategy to make financial services more accessible and efficient. It complements existing products like home loans and corporate financing.

Market Response:

Jio Financial Services’ stock rose significantly following the announcement, reflecting investor confidence in the company’s digital expansion. The shares increased by up to 5.5% on the BSE, highlighting the market’s positive reception of this strategic move12.

Leadership Perspective:

Kusal Roy, MD and CEO of Jio Finance Limited, emphasized that this launch is part of a comprehensive digital strategy aimed at transforming customer interactions with financial services1.

Future Prospects:

With its focus on technology and customer convenience, Jio Financial is poised to become a leading player in India’s digital financial services sector.

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Aerem Secures ₹100 Crore in Series A Funding

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Mumbai-based solar financing startup Aerem has raised ₹100 crore in a Series A funding round. The round was led by Japan’s University of Tokyo Edge Capital Partners (UTEC) and included investments from British International Investment (BII), SE Ventures, Riverwalk Holdings, and existing investors Blume Ventures and Avaana Capital.

Strategic Use of Funds

Aerem will use the funds to expand its operations across India, focusing on underserved eastern and southern regions. It aims to enhance its solar financing solutions, improve its B2B marketplace for solar equipment, and refine its tech platform. Additionally, the company plans to broaden its lending portfolio and reduce customer acquisition costs by leveraging its network of over 2,000 verified solar installers.

Aerem’s Impact

Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem provides comprehensive solutions for distributed solar energy adoption. Its services include:

  • Solar Financing: Loans for businesses and homeowners through its NBFC arm, NetZero Finance.
  • Equipment Procurement: The SunStore marketplace offers competitively priced solar equipment.
  • Support for Installers: Benefits for over 2,000 verified installation partners include financing access, quality equipment, and digital tools.

Aerem has enabled over 800 megawatts of solar capacity across 65 Indian cities, financing more than 800 projects. Its deployments have prevented nearly 22 million tonnes of CO₂ emissions and could save MSMEs up to ₹14,000 crore in energy costs.

Revenue Growth

Aerem reported significant revenue growth in FY24, with a 9X increase to ₹175 crore from ₹1.84 crore in FY23. This growth highlights the scalability of its business model.

Future Plans

With this funding, Aerem is poised to accelerate India’s transition to sustainable energy by eliminating barriers to solar adoption and empowering local businesses.

 

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Sweet Karam Coffee Secures $8 Million in Funding from Peak XV and Fireside Ventures

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Sweet Karam Coffee, a Chennai-based brand specializing in traditional South Indian snacks and sweets, has raised $8 million in Series A funding from Peak XV Partners and Fireside Ventures. Founded in 2015 by Anand Bharadwaj and Nalini Parthiban, the company offers products free from palm oil and preservatives, catering to customers across 32 countries.

This investment follows a previous $1.5 million funding from Fireside Ventures in October 2023, which supported offline expansion. The new funds will be used to enhance distribution through omnichannel networks, develop new products, and bolster technology-driven supply chain capabilities. 

 

Sweet Karam Coffee has grown its revenue four-fold over the past year and expects to grow another 2.5 times in the coming year.

The company has also appointed Nandhitha Indermohan, a former Unilever executive, as its Chief Operating Officer to boost operations. This strategic move positions Sweet Karam Coffee for further growth, leveraging the booming quick commerce sector and expanding its presence across India and globally.

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