Ola was banned after the transport department said that the company violated existing provisions and operated two-wheeler taxis in Bengaluru.
Apple is expected to start production for the Indian market in April.
Ola and Uber may have to withdraw ride sharing services in Karnataka after the state transport commissioner deemed the services illegal. The move is likely to impact businesses of both Ola and Uber, who have been aggressively promoting ride sharing in the past one year, given that Bengaluru is one… Read more »
Customer marketing company Hansa Customer Equity Pvt. Ltd (Hansa Cequity) Wednesday said it has bought a majority stake in D-Square Solutions Pvt. Ltd, a data science and analytics company.
In a temporary reprieve for ride hailing services such as Ola and Uber, the Karnataka government on Wednesday said it will stop coercive action, including impounding cabs affiliated to these services until 20 June for allegedly plying without relevant licences, though crackdown against surge pricing will continue.
This is the second round of funding for the firm run by Centaur Datacorp Pvt Ltd, after it raised an undisclosed angel round from Raghunandan G. (founder, TaxiForSure), Rajesh Rai (venture capitalist and co-founder, Venturesity), Arihant Patni (managing director, Hive Technologies), Sanjay Mirchandani (owner, Mirchandani Group), Arun Narayan (director, UK India Business Council) and others in February.
In a consolidation move, on-demand drivers portal DriveU has acquired Gurgaon-based driver booking platform CallAtHome while healthcare app Precribez raises an angel round.
R. Gandhi, RBI deputy governor, says although India is 7th largest global economy in terms of GDP, there is no Indian bank in the list of 70 large banks in terms of asset size.
Start-up Tork Motorcycles that makes electric motorcycles has raised an undisclosed amount of angel funding led by Bhavish Agarwal and Ankit Bhati, co-founders of cab aggregator Ola (ANI Technologies Pvt. Ltd), and other angels, including Harpreet Grover, CoCubes co-founder and chief executive officer (CEO), the company said in a statement… Read more »
SoCoMo Technologies Pvt. Ltd, which operates Jugnoo, a hyper-local online marketplace that facilitates auto-rickshaw rides and food and grocery deliveries through auto-rickshaws, has raised $10 million in Series B funding led by mobile payments and commerce platform Paytm (One97 Communications Pvt. Ltd). Apart from Paytm, which invested $5 million, existing… Read more »