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Ola Raises Funding From Yes Bank To Expand Fleet

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Ola Raises Funding From Yes Bank,ola cabs raises funding,Ola Latest News,Ola Fleet Technologies,Ministry of Corporate Affairs,Startup Stories,2017 Latest Business News,Ola Cab News Today

Ola Fleet Technologies Pvt., Ltd., has secured a loan of Rs. 1000 crores from  India’s fifth largest private sector bank, Yes Bank to expand its consumer vehicles fleet. Ola Fleet Technologies is Ola’s cab leasing business arm. 

According to documents filed with the Ministry of Corporate Affairs, Ola Fleet secured the Rs. 1000 crores loan through a hypothecation deed agreement with Yes Bank on 21 March. This loan will be used by the company to finance the purchase of commercial vehicles that are used by its driver partners. But, these vehicles will remain as collateral with the bank beside the spares and consumables.

The loan will be based on lease agreements between Ola and its partner drivers while the loan period as mentioned in the agreement will be 48-60 months. The documents reveal the Ola Fleet is eligible to avail this facility till November 30, 2017. After this period is completed, Yes Bank will take a decision on extending the facility on December 4, 2017.

This marks the second time Ola Fleet will secure a loan from Yes Bank, having secured a loan of Rs. 250 crores in 2016. Prior to that, Ola has also taken loans of Rs. 300 crores from Axis Bank, Rs. 200 crores from HDFC Bank and Rs. 100 crores from ICICI Bank over the past one year.

The company launched the leasing program in 2015 and pumped Rs. 50 crores into the subsidiary earlier this year. Ola also said they would invest Rs. 5000 crores in the program during its launch. The program lets Ola’s partner drivers own the vehicles after they make an initial deposit and then pay monthly installments for a period of three to five years, depending on the make and model.

The former managing director of SABMiller India, Shalabh Seth was named as the CEO of Ola Fleet Technologies in January 2017. The company also received Rs. 100 crores from its parent company which operates Ola, ANI Technologies Pvt., Ltd. Ola Fleet posted net sales of Rs. 5.6 crores for the financial year 2015- 2016, while its total expenses increased from Rs. 8.1 crores to Rs. 11.7 crores.

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D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes

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StartupStories

Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.

In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.

Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.

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Centre Mulls Revoking X’s Safe Harbour Over Grok Misuse

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Grok - StartupStories

The Centre is weighing the option of revoking X’s safe harbour status in India after its AI chatbot Grok was allegedly misused to generate and circulate obscene and sexually explicit content, including material seemingly involving minors. The IT Ministry has already issued a notice to X, directing the platform to remove unlawful content, fix Grok’s safeguards, act against violators, and submit a detailed compliance report within a tight deadline. If the government finds X’s response inadequate, it could argue that the platform has failed to meet due‑diligence standards under Indian law, opening the door to harsher action.​

Under Section 79 of the IT Act, safe harbour protects intermediaries like X from being held directly liable for user‑generated content, provided they follow due‑diligence rules and promptly act on legal takedown orders. Revoking this protection would mean X and its officers could be exposed to criminal and civil liability for obscene, unlawful, or harmful content that remains on the platform, including AI‑generated images from Grok. This prospect significantly raises X’s compliance risk in India and could force tighter moderation, stricter AI controls, and more aggressive removal of flagged posts.​

The Grok episode also spotlights the regulatory grey zone around generative AI, where tools can create harmful content at scale even without traditional user uploads. Policymakers are increasingly questioning whether AI outputs should still enjoy the same intermediary protections as conventional user posts, especially when they involve women and children. How the government ultimately proceeds against X over Grok misuse could set a precedent for AI accountability, platform responsibility, and safe harbour interpretation in India’s fast‑evolving digital ecosystem.

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How Pronto Is Redefining 10-Minute Home Services in India with a $25 Million Fundraise

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Startup Stories

Home services startup Pronto is in advanced talks to raise about $25 million at a near-$100 million valuation, underscoring strong investor confidence in India’s fast-growing 10-minute home services market. This potential round would be the company’s third major funding milestone after its $2 million seed and $11 million Series A in 2025, backed by marquee investors such as General Catalyst, Glade Brook Capital, Bain Capital and new participant Epiq Capital. The fresh capital is expected to further strengthen Pronto’s positioning as a leading tech-led household help platform for urban consumers.​

Pronto operates a 10-minute on-demand home-services platform that connects users with trained, background-verified workers for everyday tasks like sweeping, mopping, utensil cleaning, laundry and basic cooking. Using a hub-and-spoke, shift-based model, the startup stations workers at hyperlocal hubs, enabling sub-10-minute fulfilment and more predictable earnings compared to the informal domestic-help market. Founded in 2024 by Anjali Sardana and based in Delhi NCR, Pronto has already expanded from Gurugram into major cities such as New Delhi, Mumbai, Bengaluru and Pune, and is handling around 6,000 daily bookings with nearly 1,300 active professionals as of December 2025.​

The upcoming $25 million fundraise is expected to be used to enter more metros, deepen presence in existing neighbourhoods with additional hubs and upgrade Pronto’s technology for smarter routing, shift planning and real-time operations. A significant portion of the capital will also go into training, retention and benefits for its workforce to maintain consistent service quality at scale, especially as competition heats up from rivals like Snabbit and Urban Company in the rapid home services space. This near-$100 million valuation not only validates Pronto’s model but also highlights a broader shift toward organised, tech-driven domestic-help solutions in India’s largely informal home-services market.​

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