Did you know that India's EV market is expected to significantly pick up only in the 2020s, growing at 24 percent CAGR? The Indian EV market is likely to expand between 2018 and 2035 by 16x. That EVs are the future is undeniably true. The question remains not about if, but when. To explore the global prospects of EVs and Indian opportunities, YourStory Research presents an in-depth report on the electric vehicle revolution.
In its official blog, foodtech company Zomato announced its annual financials for FY19. Co-founder and CEO Deepinder Goyal wrote, "...we hit all of the goals we had set for ourselves...", adding that the revenue jumped to $206 million this year, up from only $68 million in 2018. The company said that 85 percent of its revenue has been driven by transactions.
Google rolled out Bolo, a new app in India, a speech-based reading tutor app that helps kids learn to read textbooks. Google says this India-first offering is to help improve children’s literacy levels in the country, especially in the rural North where Hindi is the predominant language. The internet giant is urging parents to download the app to help their children improve their reading skills.
B2B logistics startup Blackbuck raised Rs 550 crore ($79.47 million) from Accel Partners US, B-Capital, the venture firm by Eduardo Saverin, Co-founder of Facebook, and Goldman Sachs. With this fund raise, Blackbuck is now valued at close to $900 million, making the startup a soonicorn (soon-to-be a unicorn).
From Rs 120 a month, Apple Music’s individual plan is now Rs 99 per month - at par with YouTube Music Premium, Gaana Plus, Wynk, and JioSaavn Pro. Global giants like Spotify and YouTube are stirring up India’s music streaming market, and others are feeling the heat. Most recently, homegrown music apps Ganna and JioSaavn also took the price plunge.
The Indian Premier League (IPL) has always been a prime attraction for marketers and advertisers because of its enormous visibility and popularity across demographics. And its viability as a marketing platform continues even in its 12th year, with consumer brands falling over each other to associate with the league. Many small and big startups are also seeing value in the world's richest cricket league.
[Weekly Funding Roundup] Startups raise over $200M
The first week of the new fiscal saw over $210.23 million raised by Indian startups across 24 deals, with four being undisclosed. Interestingly, one of the heroes of this week’s funding is an agritech startup from Udaipur. EF Polymer raised $10 million as a part of incubation by the Japanese government at the Okinawa Institute of Science and Technology (OIST).