Startup news and updates: daily roundup (October 7, 2022)

Anuradha Ramachandran joins TVS Capital Funds as Managing Partner

TVS Capital Funds, a rupee capital private equity fund, announced the joining of Anuradha Ramachandran as Managing Partner. TVS Capital has raised Rs 3,000 crore across three funds and made 30 investments.

TVS Capital Funds backs technology-driven businesses in financial services and enterprise (B2B) services. Its current Fund III portfolio includes Unicorns like Digit Insurance, Five Star Business Finance, and Yubi (CredAvenue).  

Anuradha has more than 22 years of relevant experience across venture capital (with Ventureast, Omidyar Network and Flourish Ventures), investment banking (with Lazard), and financial journalism.  She has led several successful venture investments in the fintech space, as well as other tech categories. 

Anuradha Ramachandran, Managing Partner, TVS Capital Funds, said, “I strongly believe innovation and entrepreneurship can change the lives of millions of individuals and can create massive socio-economic shifts that can benefit a growing economy like India. I see a strong alignment to these core values embedded in TVS Capital’s mission and I am delighted to be part of its strong focused team in its journey of supporting tech-aligned businesses in financial and B2B services."

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RattanIndia Enterprises Ltd to acquire 100 pc shareholding in Revolt Motors 

RattanIndia Enterprises Limited is acquiring 100% shareholding in the electric motorcycles market leader Revolt Motors. The company had earlier acquired 33.84% shareholding in Revolt, with an option to further increase the shareholding.

Revolt Motors claims to be the highest selling electric motorcycles in the country and Revolters, as the proud owners of Revolt EV bikes love to call themselves, have clocked more than 100 million kms on Indian roads till date.

Revolt Motors currently has a manufacturing facility in the auto manufacturing hub of Manesar, Haryana. Over the last one year, it has expanded its pan-India footprint, with 29 dealership stores spread across India.

Rahul Sharma, MD of Revolt, said, “It is a proud moment for me as we pass on the baton for the next phase of Revolt’s growth trajectory. I am very proud of what we have created with Revolt. Revolters love their Revolts and there is a huge demand for our bikes. I am sure the Revolt revolution has just begun.”

After India, WebEngage announces Startup Program in Southeast Asia

 WebEngage, the full-stack retention operating system, has opened applications for the Southeast Asia cohort of the WebEngage Startup Program (WSP). The programme will help early-stage startups improve customer retention and engagement, lay strong data foundations, drive actionable insights, increase repeat orders, and understand customers better. In short, the program will help increase chances of aggressive yet sustainable growth.

B2C startups operating in the ecommerce, D2C, edtech, and fintech sectors that have raised between seed and Series A round of funding can apply for the programme. 

The top 50 selected startups will get free access to WebEngage’s retention operating system for six months, including up to $25,000 platform credits, to help configure an integrated data setup and create automated 1:1 personalised omni-channel journeys over email, SMS, WhatsApp, and push notifications.

The startups also get access to a dedicated success management team that will help hasten their learning curve while advising on the strategy and tactics of setting up the first campaigns and dashboards.

As part of the programme, startups also also get access to an exclusive founder and mentor community, and guidance from leaders and industry experts with deep, meaningful, and actionable insights.

OYO creates two new global leadership roles for Service Experience and Revenue 

Oyo, a global travel technology company, has announced the elevation of Shreerang Godbole as the Chief Service Officer and Shirish Damani as the company’s Chief Revenue Officer on Friday. 

Shreerang has been the SVP - Consumer Product while Shirish has been leading the revenue function at OYO Vacation Homes (OVH). 

Shirish Damani, in his new role, will focus on building the revenue-first, tech-forward, customer-centric approach at OYO. He will take charge of the Consumer Product team and work towards making the OYO app and website more user-friendly. During his seven years tenure at OYO, Shirish has helped revamp the revenue management system at OYO Vacation Homes (OVH), with the acquisition of Leisure Group being the highlight of his stint. Shirish was also instrumental in laying the foundation of OYO’s dynamic pricing system and algorithms. 

In order to further OYO’s global mission of building a consumer-first approach, Shreerang, in his new role as a Chief Service Officer, will be responsible for service and experience of Patrons and Customers globally. He will work closely with the operations, patron engagement, and customer service teams across markets, leading the Consumer Service and Partner Service Product charters. In his previous role as SVP - Consumer Product, Shreerang was responsible for building products that sustainably improve and scale customer experience, while unlocking revenue maximization opportunities. 

During his eight years long tenure, Shreerang has led various roles and responsibilities at OYO and has driven key interventions such as building the Yo! Chatbot, shaping OYO Wizard+ into an attractive loyalty program, and consumer confidence generating campaigns such as VaccinAid and Sanitised Before Your Eyes (SBYE) during the pandemic.

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