Funding
Elivaas raises $2.5M in seed funding
Elivaas, a tech-driven villa and luxury apartment management company, has raised $2.5M in seed funding. The round was led by Peak XV’s Surge with participation from angels including Naveen Kukreja, CEO & and Co-founder of Paisabazaar; Kunal Shah, Founder of CRED and Mohit Gupta, Co-Founder of Zomato.
This newly-raised fund will be used to establish a larger market presence across high-footfall cities in India and scale its technology platform
The company is responsible for the upkeep and close monitoring of rental properties for homeowners. Since its inception in January 2023, Elivaas has signed on to more than 50 properties across Goa, Udaipur, Delhi NCR, and Kufri.
Other news
E-buses to account for 11-13% of new bus sales by FY2025: ICRA
ICRA expects electric buses (e-buses) to be at the forefront of India’s electrification drive, with e-buses accounting for 11-13% of new bus sales by FY2025.
E-bus adoption in India has seen a steady rise, reaching 7% in FY2023, fueled by state policies, government schemes, and bid aggregations by Convergence Energy Services Limited. Challenges like payment security need to be addressed for sustained growth.
The government has also recently announced the PM e-Bus Sewa scheme, which aims to provide 10,000 e-buses to 169 cities under a public-private partnership (PPP) model.
HDFC Securities launches HDFC SKY mobile trading app on AWS,
Amazon Web Services (AWS), an Amazon.com company, announced that HDFC Securities Ltd., one of the leading investment service providers in India, launched its new mobile trading app, HDFC SKY.
HDFC Sky says it serves 75 million customers and all HDFC Group companies, investors, and traders worldwide with user-friendly trading of shares, commodities, futures, currencies, initial public offerings (IPOs), mutual funds, and exchange-traded funds (ETFs).
HDCF SKY, operating on AWS, facilitates stock market access at a rapid scale. Leveraging AWS, HDFC Securities anticipates a 50% reduction in annual IT infrastructure costs compared to on-premises setups.
Additionally, the company aims to enhance customer experiences through machine learning on AWS, offering personalised services and optimizing document processing with AWS’s generative artificial intelligence solutions.
Edited by Affirunisa Kankudti
