Ola, homegrown cab hailing startup, has raised $ 36 million from Tekne Capital Management, a New York based hedge fund, according to filings with the Registrar of Companies.
VCCircle reported, the company allocated 171,173 fully and compulsorily convertible preference shares at Rs. 13,521 apiece. Delaware based Tekne Private Ventures III LP invested Rs. 167.15 crores for about 1.23 lakh shares while 47,548 shares worth Rs. 64.28 crores were issued to Tekne Private Ventures I Master from the Cayman Islands.
The new shares were allotted at the same price at which Ola raised $ 104.4 million from Falcon Edge Capital and Ratan Tata’s RNT Capital Advisers. According to the filings, these shares were allocated on 7 June 2017, after a board resolution was passed on May 29. Ola’s valuation could not be ascertained as it is not clear whether this investment is a part of a larger funding round or if more investors are involved. In August 2015, Ola was valued to be close to $ 4.8 billion while media reports in February this year pegged its valuation to be around $3.5 billion.
In April this year, the cab aggregator company raised $ 250 million from Japan’s SoftBank Group Corp., making SoftBank Ola’s largest investor. They also raised $50 million (Rs. 322 crores) from Tekne Capital Management LLC., and were in talks with Coatue Management LLC., for raising more funds.
Ola and US based Uber Technologies Ltd., have been locked in a fierce battle to capture India’s lucrative cab hailing market. Ola has also launched local innovations better suited for the Indian market, including a bike taxi service, Ola Bike. It was also reported, Microsoft was likely to invest $50-100 million in Ola, resulting in Ola switching to Microsoft’s cloud computing platform Azure from Amazon Web Services.
For the financial year 2015 – 2016, Ola’s operating revenue jumped to Rs. 438.6 crores from Rs. 57.5 crores while their consolidated net loss tripled to Rs. 2,311.7 crores. The total expenditure surged to Rs. 3,078.19 crores from Rs. 899.7 crores the year before. At present, Ola operates in 100 Indian cities while Uber has a presence in only 29 cities.
The Technology Innovation Hub on Autonomous Navigation Foundation (TiHAN) at IIT Hyderabad has set a new standard in drone technology with the launch of Palyanka, a heavy payload drone designed as an autonomous air ambulance. Capable of carrying up to 200 kg, Palyanka is engineered to swiftly transport patients, medical equipment, or critical cargo across challenging terrains, bypassing traditional barriers like road congestion and remote inaccessibility. This advanced UAV operates autonomously, making it highly effective for rapid response in both urban and rural emergencies, and stands at the forefront of disaster relief operations in scenarios such as floods and fires.
Built for versatility, Palyanka doesn’t just function as an air ambulance. Its robust design enables use in rescue missions, cargo deliveries, and even as an air taxi for metropolitan connectivity. Inspired by the Sanskrit word for palanquin, the name “Palyanka” reflects the drone’s role as a safe and efficient carrier. All components, from conceptual design to IP, have been developed in-house at IIT Hyderabad, ensuring the drone meets stringent standards for durability and performance under extreme conditions.
With a development journey spanning over five years and led by Prof. P. Rajalakshmi, TiHAN’s team has transitioned from early drone prototypes to a full-scale, high-capacity solution like Palyanka. The team is now preparing pilot projects in hilly terrains and working on further enhancing the drone’s endurance with innovative heat-resistant materials. By pioneering such indigenous solutions, IIT Hyderabad’s TiHAN is transforming emergency medical services and logistics, marking a pivotal advancement in India’s urban mobility and public safety landscape.
X, the social media platform formerly known as Twitter, has announced a major reduction in its subscription prices across India, slashing fees by up to 48%. The Basic plan now starts at ₹170 per month, down 30% from its earlier price, while the Premium plan has dropped 34% to ₹427 per month on the web. The Premium+ plan has also become more affordable, now costing ₹2,570 per month—a 26% reduction. For mobile users, the discounts are even steeper, with Premium priced at ₹470 per month and Premium+ at ₹3,000 per month, reflecting the impact of app store commissions.
This marks the first comprehensive price adjustment across all three tiers—Basic, Premium, and Premium+—since the service launched as Twitter Blue in India in February 2023. The move comes shortly after Elon Musk’s AI venture, xAI, rolled out the new Grok 4 model and follows xAI’s acquisition of X earlier this year. The price cuts are seen as a strategic effort to boost adoption in India, one of the world’s largest internet markets, by making premium features more accessible to a wider audience.
Each subscription tier offers a range of features: Basic users can edit and write longer posts, enjoy background video playback, and download videos. Premium subscribers get additional perks like a blue checkmark, creator tools, analytics, and fewer ads, while Premium+ members benefit from an ad-free experience, article publishing, and exclusive access to advanced AI features. These changes are expected to make X’s premium services more appealing to Indian users looking for enhanced social media experiences.
Linda Yaccarino, the CEO of X (formerly Twitter), announced her resignation on July 9, 2025, bringing her two-year leadership of Elon Musk’s social media platform to a close. Yaccarino, who previously led NBCUniversal’s advertising division, was appointed in 2023 to help stabilize X’s advertising business and guide the company through its ambitious transformation into an “everything app.” In her farewell message, she expressed gratitude to Musk for entrusting her with the mission of revitalizing the company, protecting free speech, and prioritizing user safety, though she did not specify a reason for her departure.
Her exit comes at a turbulent moment for X, following the recent controversy involving Grok, the AI chatbot developed by Musk’s xAI, which posted antisemitic content referencing Adolf Hitler. This incident intensified scrutiny of X’s content moderation policies and added to the challenges Yaccarino faced, including restoring advertiser trust after a period of strained relations with major brands. Some analysts have suggested that differences in management style between Yaccarino and Musk, as well as the evolving structure of X after its integration with xAI, may have contributed to her decision to step down.
Elon Musk publicly thanked Yaccarino for her contributions, while her departure leaves a leadership gap as X navigates ongoing business, regulatory, and reputational challenges. The company’s next steps will be closely watched as it seeks to maintain its influence in the social media landscape and fulfill Musk’s vision of a multifaceted digital platform.