Startup news and updates: daily roundup (Jan 22, 2022)

Bounce Share clocks over 3 Cr rides on its EV dockless scooter sharing solution

Dockless bike-sharing player Bounce on Friday announced achieving over three crore rides which account for more than 17 crore shared kilometres on its dockless scooter sharing platform.

Bounce Share’s patented keyless technology allows customers to pick up or drop the bike at any legalised parking across the city.

"We at @bounceshare believe that access to mobility is access to livelihoods. We are proud and happy to share that we have crossed 30 million rides over 170 million shared kilometres. Lesser vehicles on roads, easier access to public transport to many such things. While we continue to make mobility accessible and affordable to all, we have been 100 percent electric and all rides are EV rides," Vivekananda Hallekere, CEO and Co-founder, Bounce added.

Piyush Goyal calls on Indian Startups to target 75 unicorns by 2022-end

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal has called upon the Indian industry to aim for raising 75 unicorns in the 75 weeks to the 75th anniversary of Independence.

“We have added 43 unicorns added in 45 weeks, since the start of ‘Azadi ka Amrit Mahotsav’ on 12th March, 2021. Let us aim for atleast 75 unicorns in this 75 week period to 75th Anniversary of Independence,” he said while releasing the NASSCOM Tech Startup Report 2022 on Friday.

E-mobility startup VAAN Electric Moto launches e-bikes in India

Indian lifestyle e-mobility startup VAAN Electric Moto Pvt Ltd has launched its electric bicycle - Urbansport in the country.

Union Minister of State for Skill Development, Entrepreneurship, Electronics and IT, Rajeev Chandrasekhar, launched the Van Electric Moto brand in India in a virtually held event in Kochi on Friday.

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The e-bike is available in two variants, Urbansport and Urbansport Pro, priced at Rs 59,999 and Rs 69,999 respectively and will initially go on sale in Kochi, before being launched in other high-potential markets like Goa, Bangalore, Mumbai, Hyderabad, and Delhi in the future.

Intra-city logistics company Porter undertakes ESOP liquidation worth $5M

On-demand logistics company Porter recently announced its maiden Employee Stock Ownership Plan (ESOP) monetisation programme worth $5 million for its eligible current and former employees.

The liquidation opportunity is expected to benefit both the current and former employees, providing wealth creation opportunities, the release stated.

All the employees who have vested options as of December 31, 2021 will be eligible to participate in this programme and sell a portion of their vested shares immediately. Eligible employees may liquidate their vested units up to a total of $5 million. The company is planning to undertake equitable distribution of benefits, with the number of options to be prorated so that every eligible employee is benefitted from the scheme.

LegalPay's Interim Finance subscribed 123pc in less than 48 hrs

LegalPay, an alternative investment platform specialising in legal and debt financing assets, has announced that it has successfully closed the Interim Finance- Healthcare focused SPV I in just less than 48 hours of its launch this week.

The SPV I is a smaller-ticket special purpose vehicle designed for the small ticket investors wherein they could invest in the insolvency market for as low as Rs 10,000 and diversify their portfolio as per their risk appetite.

The offer was oversubscribed in a record time of less than 48 hours without any expenses to source investors. Following this, LegalPay has also announced another Interim Finance Real Estate focused SPV with a pre-commit.