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How does a well funded electric mobility startup beloved by media and pundits go bankrupt? The answer is... it's complicated. Cake 0 Emission AB filed for bankruptcy in February to the amazement of the mobility community. From the outside, Cake was looking strong. Sensational branding, a constant stream of media and over 100 design awards indicated momentum, while breathless press releases announcing multiple international distribution deals suggested business success. A deep investigation into the company by Motorcycle Global revealed an organization overly focused on perception, but lacking technical and market experience, and leadership that ignored signals and support from industry veterans. Request your free copy of the 55 page Cake autopsy report today, based on two months of research including interviews with the CEO, CTO, COO, suppliers, former employees, and trustees. Click the link below. https://lnkd.in/eNYnyHVv #motorcycle #ev #motorcycleindustry #electricmotorcycle #bankruptcy #businesscase #startup #mobility #micromobility CAKE – ridecake.com MotorCyclesData Electrek.co Electric Autonomy Ola Electric Ather Energy Zen Energy Ultraviolette Automotive LiveWire Zero Motorcycles Inc.

Advance Mobility Secures $2 Million Seed Funding Led by Finvolve to Revolutionize Ridesharing Mobility and Expand Nationwide Presence Advance Mobility Private Limited, a dynamic startup in the ridesharing mobility sector, has successfully closed a seed funding round of $2 million led by Finvolve, with participation from India Accelerator. While the valuation remains undisclosed, this funding signifies a significant milestone for the company. Specializing in scalable fleet operations on the Uber platform, Advance Mobility is dedicated to addressing challenges across the entire value chain, from market players and customers to drivers. This approach revolutionizes fleet operations, paving the way for enhanced efficiency and customer satisfaction. With this infusion of capital, Advance Mobility aims to expand its presence beyond Mumbai […] - https://lnkd.in/dtAgTapT #automotive #evs #ev #electricmobility #emobility #ebikes #fleets #evfleet #evnews #autonews #electricvehicles #electricvehicle #automotiveindustry #automotivejobs #cleantech #cleanenergy #hydrogen #lithium #evbattery #sustainability #climatechange #$2million #advancemobility #finvolve #india #ridesharingmobility

Are you interested in discovering how Ola Electric, which launched its first product just two and a half years ago, achieved such a successful market debut? The Indian startup has captured global attention with a 20% increase in its stock price on its initial public offering, valuing the company at $4.8 billion. This impressive achievement not only highlights the growing interest in the electric vehicle sector but also underscores the impact of innovation and strategic backing on the rapid evolution of a company. With an IPO that raised over $730 million, Ola Electric has marked a significant milestone in the Indian #market, being the largest listing of the year. Explore how this young company, backed by SoftBank Investment Advisers, has managed to attract investors' attention and turn its vision into a resounding success. Bhavish Aggarwal

MyPickup, an electric vehicle (EV) ride-hailing startup, has successfully raised INR 1.5 crore (approximately $179,293) in a seed funding round led by Inflection Point Ventures (IPV). This funding marks a significant milestone for the Bengaluru-based company as it seeks to expand its operations and improve its services. Founded in 2022 by Abhijeet Jagtap, MyPickup operates as a subscription-based electric auto-rickshaw service provider. The company aims to address urban congestion and pollution challenges in major cities by offering a unique value proposition of zero cancellations and zero surge pricing. This investment is part of IPV's initiative to support early-stage ideas with high innovation and impact potential. The Indian commute market, currently valued at $7.7 billion, is projected to grow at a rate of 13% year-over-year, potentially reaching approximately $14 billion in the near future. This presents a significant opportunity for MyPickup to capitalize on the growing demand for sustainable urban transportation solutions. Saion Mukherjee, Kamal Boro, Varun P #funding #ev #electric

IPO-bound electric mobility startup Ola Electric’s net loss widened 7.6% to INR 1,584.4 Cr in the financial year 2023-24 (FY24) from INR 1,472.1 Cr in the previous year, even as the startup’s top line continued to surge 👇 On the back of a robust growth in its vehicle sales, Ola Electric’s operating revenue jumped over 90% to INR 5,009.8 Cr during the year under review from INR 2,630.9 Cr in FY23, as per the company’s red herring prospectus (RHP) filed on July 26. As an electric two-wheeler manufacturer, the Bhavish Aggarwal-led startup currently earns all its revenue from sales of its escooters. Its Ola S1 Pro model is currently bringing in the highest amount of revenue. #startup #IPO #electricvehicle

Be in constant moove. We bring you the CEO of Moove himself, Arthur Ingles, to talk more about Moove, a marketplace that will bring new ways to sell your empty leg flights, distributing them to almost 30,000 of its users. Now, Leon Software introduces a new integration with Moove, a French startup specializing in developing technologies for on-demand aviation operators, has just unveiled a marketplace platform for empty leg flights. Now you can get the benefit of swift data transfer between Leon and Moove. But let's hear from CEO and Co-founder himself, Artur Ingles. #MOOVE #LeonSoftware #Marketplace

Ola Electric has always run on the fast track in India’s electric vehicle race—but after going public, the Bhavish Aggarwal-led company is possibly coming to the realisation that it has to curb its enthusiasm a tad bit. There’s little doubt that Ola Electric’s vision is grand — the company is targeting 2,000 stores from around 800 today, and more than 10,000 partners by March 2025. These numbers as usual look great on paper, but in reality Ola Electric needs to focus especially when service network and quality don’t match the pace of product rollouts, as many of Ola Electric’s customers have claimed. At the same time, Aggarwal has made it clear that speed required to launch new products is non-negotiable. Even with service complaints stacking up, Ola Electric will focus on new models and new stores to claw back market share. Many are asking: is this a gamble worth taking at this moment? This is an excerpt from the Sunday Edition of Inc42’s Weekly Brief! Subscribe to Inc42’s Weekly Brief to dive deeper into the story – and join 120K+ startup founders & leaders in decoding the most consequential developments shaping India’s tech and startup economy: https://4-2.co/3Z3p5if #weeklybrief #olaelectric #electricvehicles

Did you know that electric vehicle startups like Elmo are transforming the automotive industry with their game-changing subscription models? With just one monthly payment, you get access to everything from the car itself to insurance, maintenance, taxes, and even breakdown cover. No more worrying about the hidden costs of car ownership—it’s all included! This innovative approach makes driving electric more affordable and accessible for everyone, bringing us one step closer to a sustainable future. Stay tuned on Founding Startups for more exciting updates on tech innovations like this! #EVRevolution #SustainableDriving #TechInnovation #FS #FoundingStartups

Exciting news from the ride-hailing industry! 🚀 Rapido, the popular ride-hailing startup, is revolutionizing the sector with its latest move. The company has extended its software-as-a-service (SaaS)-based zero commission model to auto drivers, empowering them with greater control over their earnings. Under this model, Rapido relinquishes its role in deciding the price point, ensuring transparency and inclusivity for all stakeholders involved. This shift marks a significant departure from the traditional aggregator-commission-led model, demonstrating Rapido's commitment to fostering a fair and sustainable ecosystem. The company will charge auto drivers a nominal daily fee ranging from INR 9 to INR 29, providing them with access to the platform's services while eliminating the burden of high commission rates. With this innovative approach, Rapido aims to empower auto drivers and create a more equitable marketplace for all. This move reflects Rapido's dedication to driving positive change within the ride-hailing industry. Founded in 2015 by Aravind Sanka, Pavan Guntupalli and Rishikesh SR, the company operates in over 100 cities across the country. 🚦 #Rapido #RideHailing #ZeroCommission #Empowerment #Innovation #FairEcosystem 🌐

Ola Electric CEO Bhavish Aggarwal, during the press briefing on the sidelines of the company's event Sankalp, said that the company has sent a strong response to MapMyIndia. Aggarwal dismissed MapMyIndia’s claims as “opportunistic” and noted that the move was strategically timed around Ola Electric’s IPO. "Empty vessels make more noise. In the run-up to our IPO, they made a lot of sound. They were totally opportunistic about it. We sent them a strong response; we wanted to deal with them after the IPO. In that timeline, we have sent them a response; they haven’t responded to that,” Aggarwal said. “They attacked Ola Electric, which is not even in the mapping business. There is absolute opportunistic randomness in what they have done. We will get back to them in the right forum at the right time,” he added. Last month, MapMyIndia's parent company sent a legal notice to Ola Electric, accusing it of copying their data to build Ola Maps. The company alleged that the EV maker breached their licensing agreement, which was signed in 2022, when Ola Electric partnered with MapMyIndia to provide navigation services for the S1 Pro electric scooter. The agreement reportedly prohibited Ola from combining the licensed product with any other competing product, engaging in reverse engineering, or attempting to extract or copy the source code from any API of the licensed product or related software. #ola #maps #company #business #startup #technology #News #Indianstartupnews