The number of startups in India’s electric two-wheeler market has surged to over 150 from 54 in 2021, driven by government incentives to promote clean vehicles and cut oil imports, according to a new analysis.
“Most are competing in the mainstream, and 85% of the 65 models launched last year were such products: high-speed as against speed and range-constrained products, which used to be a feature of the startups,” Bernstein analysts wrote.
The government has offered incentives under its FAME II scheme, which provides subsidies to buyers and was recently extended to 2024.
Bernstein’s analysis found low barriers to entry, with electric two-wheelers built using outsourced models and readily available components.
Most established automotive companies have been granted PLI while only a few startups qualified, potentially providing a cost advantage for major incumbents, Bernstein said.
Nubank CEO dishes on the neobank’s profit surge and how tourist VCs in LatAm have gone homeListen here or wherever you get your podcasts.
Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
This is our interview show, where we sit down with a guest, think about their work, and unpack the rest.
This week, we talked to David Vélez, the co-founder and CEO of Nubank, the $50 billion São Paulo, Brazil-based digital bank that offers credit cards, checking accounts and life insurance to consumers.
Bitcoin’s rally is turning out to be bad news for Coinbase, the crypto trading app that has just confirmed some of its customers are seeing a zero balance across their Coinbase accounts.
The price of Bitcoin climbed in the wake of U.S. spot Bitcoin ETFs, driving a 42% price rally this month.
Users of the Coinbase app grew concerned on Wednesday as they logged in to find their accounts showing a zero balance, despite owning crypto assets.
We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling.
Remarked one user on X, who shared a picture of a zero balance, “My mom called and asked me and mine was at zero also,” they said.
Tech layoffs are accelerating, according to the data.
After quick revenue growth in 2023, midsized tech companies are cutting as well.
Brex’s latest layoffs make it plain that even some of the best-known, and most richly funded, upstart tech companies are finding their headcount to be too much.
Thankfully, that information is at our fingertips and we can report that, yes, the layoff surge that you are feeling is in fact an actual wave.
In that month, Layoffs.FYI counted just 4,707 tech layoffs across 65 total known cuts.
SentinelOne’s deal to acquire PingSafe valued the Peak XV-backed young startup at over $100 million, two sources familiar with the matter told TechCrunch, in one of the strongest and fastest deals emerging from India.
The New York Stock Exchange-listed AI security firm disclosed the cash and equity deal last week, but didn’t reveal the financial terms.
Founded in 2021, PingSafe is a relatively new and small security company with <100 employees and ~50+ customers, mostly in India.
The British bank also estimated the size of the deal to be about $100 million.
PingSafe is “among the fastest ‘seed to significant exits’ Indian ecosystem has ever seen,” Rajan Anandan, who leads Surge at Peak XV, tweeted last week.
According to trade data examined by the industry body India Cellular and Electronics Association (ICESA) and government officials, India’s smartphone exports have more than doubled, reaching over $11 billion in…
Hatica, a startup founded by Uber alums, has raised $3.7 million in a funding round led by Sequoia India and Southeast Asia’s Surge. The company offers engineering analytics services to…
