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Funding

BluWheelz raises $1M in bridge round led by Venture Catalysts

BluWheelz, a logistics solutions company, has raised $1 million in a bridge funding round led by Venture Catalysts, an integrated incubator and an early-stage investor. Other investors including FAAD, LetsVenture, and Chakra Growth Fund also participated in the round.

“This is a strategic leap towards our goal of expanding our electric fleet with the introduction of cutting-edge four-wheelers and six-wheelers, in collaboration with leading OEMs (original equipment manufacturers). Our unwavering focus remains on bridging the gap between technological innovation and practical urban logistics solutions, as we gear up to meet the burgeoning demand for eco-efficient fleet services,” said CP Sethi, CEO of BluWheelz.

Founded in January 2023, BluWheelz has expanded its electric vehicle fleet to over 1,200 vehicles, operating in over 18 cities. Its fleet solution covers two-wheelers, three-wheelers, and four-wheelers, with plans to integrate six-wheelers as well.

“BluWheelz’s impressive growth trajectory, strategic partnerships, and visionary leadership position them as frontrunners in the rapidly evolving EV market,” Dr Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts, noted.

Other news

SCOPE unveils project HALO; announces $1M investment

SCOPE, a startup networking platform, has unveiled project HALO to foster innovation and growth in the GenAI landscape.

With an investment commitment of $1 million, HALO aims to accelerate the development of deeptech startups, particularly in the fields of artificial intelligence and large language models (LLMs).

Central to HALO’s offerings is an advisory council comprising industry veterans and experts who will provide invaluable guidance and mentorship to participating startups. In addition, HALO offers startups access to SCOPE’s extensive network, connecting them with industry leaders, potential partners, and customers.

Pine Labs’ Setu appoints former SAP India Executive Anand Raisinghani as CEO

API infrastructure company Setu has appointed Anand Raisinghani as its new CEO.

As CEO, he will steer Setu in its next phase of growth around the space of open banking, account aggregation, API platforms, embedded finance, and data gateway. He will work closely with Setu’s co-founder Nikhil Kumar.

Raisinghani has more than two decades of experience and has worked for global technology companies including Equifax, IBM, and Wipro. Before joining Pine Labs’ Setu, Raisinghani was the VP and Head of Professional Services, BFSI, Telecom, and Media at SAP India.

“Setu’s strong execution ability to offer innovative solutions that keep pace with the rapid evolution within the industry bodes well for us. I look forward to working closely with our customers and partners, to achieve new milestones together,” Raisinghani said.

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inDrive appoints Pratip Mazumder as Country Manager for India

inDrive, a global mobility and urban services platform, has appointed Pratip Mazumder as the Country Manager for India.

Mazumder will be responsible for looking after all business verticals, as well as overseeing local government and public relations, partnerships, and inVision initiatives. He will oversee the growth of inDrive’s overall business in India while ensuring ongoing improvements in safety for riders and drivers across the country.

He is an experienced leader with more than ten years in the online and consumer tech industries. He brings with him a wealth of experience in go-to-market strategy, and has launched multiple product lines and segments in numerous cities and markets.

Mazumder joins inDrive from Swiggy where he was the General Manager – Strategic Partnerships, India. He has also worked with Aegon Life India, Uber, and Practo.

“His leadership will be instrumental in cultivating our organisational culture and aligning our local operations with our global standards,” Mark Loughran, President of inDrive, said.

IIT Kanpur, NATRAX partner to tackle vehicle emissions

The Indian Institute of Technology Kanpur (IITK) and National Automotive Test Tracks (NATRAX) have signed an MOU to facilitate collaboration on the areas of real drive emission (RDE) and emission norms.

The MOU was signed by Dr Manish Jaiswal, Director of NATRAX and Prof Tarun Gupta, Dean of Research and Development, IIT Kanpur.

The partnership will transform the field of automotive research, especially in the field of vehicular emissions.

This collaboration aims to work on the emission norms, especially towards the latest EU standards and knowledge-sharing to create innovative solutions to be utilised by industry in the future.

(This copy will be updated with the latest news throughout the day.)