River Mobility’s fundamentals-driven EV play; Ajay Data on AI-powered entrepreneurship
River Mobility's growth strategy centres around steady expansion and scaling manufacturing capacity. Ajay Data, MD of the Data Group of Industries, discusses AI, entrepreneurship, and nation-building. Chennai's free EmpowHER gyms are offering women exercise and a sense of community.
Hello,
Will NVIDIA match market expectations?
This week’s key event–NVIDIA’s quarterly earnings–is scheduled on Wednesday. A frontrunner in the AI race so far, the company has seen its business transform ever since generative AI made headlines two years ago. Last month, it became the first company to hit a $4 trillion market cap.
Wall Street will be closely watching NVIDIA’s numbers and other commentary from CEO Jensen Huang.
Speaking of AI, in what looks like a plot from Black Mirror, a startup called Halo is releasing a pair of smart glasses that will record and transcribe all your conversations and use them to beam you AI-powered insights.
After the disaster that was the Humane AI Pin, one wonders if the world is even ready to use AI-powered gadgets.
Meanwhile, YouTube is reportedly using AI to tweak videos–without letting the creators know or asking for their permission. The changes are subtle, according to an article on BBC Future, and include things like skin being clearer and shirts without wrinkles.
A case of AI bending reality!
In today’s newsletter, we will talk about
- River Mobility’s fundamentals-driven EV play
- Ajay Data on AI-powered entrepreneurship
- Finding fitness and freedom via exercise
Here’s your trivia for today: Which European country is home to the world’s oldest zoo that has been in continuous operation since it began in 1752?
Interview
River Mobility’s fundamentals-driven EV play
On Bengaluru streets, where electric scooters have become a preferred choice for families, working professionals, and gig workers, River Mobility stands out from the rest. Since it began delivering its vehicles in October 2023, its expanding offline presence across the country has helped the firm see a 2X jump in sales this year alone.
In an interview with YourStory, Co-Founder and CEO Aravind Mani details River’s steady rise, how it stands apart from original equipment manufacturers in the sector, its focus on being a single-product company until next year, and more.
Steady momentum:
- A focus on improving fundamentals has been the key to the company’s growth, according to Mani, with months spent on R&D and testing sales and service formats. Today, it has sold over 10,000 scooters since launch, with a run rate of about 1,600–1,700 a month. Most of its stores—around 90%—are dealer-run.
- The rare-earth magnet crisis is not an immediate issue for River owing to relatively smaller volumes, according to Mani. Currently, suppliers are exploring using HRE-free magnets, finding non-China sources, or sourcing certain parts from China while keeping assembly localised.
- The company’s focus is not on chasing the top four EV players, at least not in the next 2–3 years, Mani says. Rather, its target is to build a strong brand identity and profitability, not just market share.
Funding Alert
Startup: CredRight
Amount: $10M
Round: Series B
Startup: WizCommerce
Amount: $8M
Round: Series A
Startup: Palmonas
Amount: Rs 55 Cr
Round: Series A
Interview
Ajay Data on AI-powered entrepreneurship
In a conversation with Shradha Sharma, Founder and CEO of YourStory, Ajay Data, the Managing Director of Data Group of Industries, sketched a near-future where individuals, armed with AI agents and entrepreneurial drive, can build companies of extraordinary scale.
In his view, this is a structural shift: AI compresses labour, multiplies capability, and reduces the need for sprawling teams. Where today a unicorn requires vast talent and capital, he suggests, soon it may emerge from the work of one super-enabled person.
Revolution in work processes:
- Data calls AI “a technology which will permanently change mankind,” likening its arrival to a revolution on the scale of the internet.
- He also emphasises the reach of AI into knowledge work, including categories such as coding, analysis, and content creation, which are now up for fundamental changes as a result. According to him, workers need to reframe their relationship with AI and learn to write prompts and systems that amplify human judgment.
- He cites the huge compensations being paid to talent in the AI space as evidence that an individual’s contribution can be astronomically valuable. If people are being paid large sums for their thinking, then those people or anyone who masters the new tools can translate that value into ventures of their own.
Women Empowerment
Finding fitness and freedom via exercise
Under Mayor R Priya’s EmpowHER plan, Greater Chennai’s Corporation is rolling out 39 free women-only gyms, funded with Rs 10 crore. Twenty-two are already under construction, and four more will begin soon in neighbourhoods including Thiruvottiyur, Ambattur, Kannagi Nagar, and Velachery’s Millennium Park.
EmpowHER centres house a mix of cardio machines such as treadmills, stationary bikes, and ellipticals; strength-training equipment, including leg, chest, and shoulder press machines; and free weights and stability balls.
News & updates
- AI lawsuit: Two of Elon Musk’s companies sued Apple and OpenAI on Monday, accusing the pair of an “anticompetitive scheme” to thwart artificial intelligence rivals.
- Shutdown: Online betting company Flutter has shut down its money-based online games in India following a law change last week, with CEO Peter Jackson saying he was "extremely disappointed" by the development.
- Ecommerce data: India will start sourcing price data directly from ecommerce giants such as Amazon and Flipkart to overhaul its benchmark inflation gauge. The government hopes to capture shifting consumption habits and address concerns that current data is outdated, Reuters reports.
Which European country is home to the world’s oldest zoo that has been in continuous operation since it began in 1752?
Answer: Vienna, Austria.
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