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TechCrunch

YC-backed Statiq wants to bootstrap India’s EV charging network – TechCrunch


Electric vehicles (EVs) are spreading throughout the world. While Tesla has drawn the most attention in the United States with its luxurious and cutting-edge cars, EVs are becoming a mainstay in markets far away from the environs of California.

Take India for instance. In the local mobility market, two- and three-wheel vehicles are starting to emerge as a popular option for a rapidly expanding middle class looking for more affordable options. EV versions are popular thanks to their reduced maintenance costs and higher reliability compared to gasoline alternatives. Read More

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TechCrunch

Apple’s partners and Samsung apply for India’s $6.6 billion local smartphone production program – TechCrunch


South Korean giant Samsung, Apple’s contract manufacturing partners Foxconn, Wistron and Pegatron, and Indian smartphone vendors Micromax and Lava among others have applied for India’s $6.6 billion incentive program aimed at boosting the local smartphone manufacturing, New Delhi said on Saturday.

The scheme, called Production-Linked Incentive Scheme, will offer a range of incentives to companies including a 6% financial incentive on additional sales of goods produced locally over five years, with 2019-2020 set as the base year, India’s IT Minister Ravi Shankar Prasad said in a press conference. Read More

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The Next Web

India’s opaque site bans set a dangerous precedent for censorship

Days after India banned 59 Chinese applications, post a skirmish between the two nations at the border, I tried to open the privacy-focused search engine DuckDuckGo on my phone. But I couldn’t reach the site because of some error.

I wasn’t the only one facing this problem. A lot of users in India found that the site had been blocked because of an order from the Department of Telecommunications (DoT). There was no explanation as to why the site was banned. However, a few days later, the site was accessible again. Read More

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TechCrunch

India’s Flipkart gives hyperlocal delivery service another try – TechCrunch


Flipkart on Tuesday launched a hyperlocal service in suburbs of Bangalore, four years after the e-commerce group abruptly concluded its previous foray into this category.

The e-commerce group, owned by Walmart, said Flipkart Quick leverages the company’s supply chain infrastructure and a new location mapping technology framework to deliver more than 2,000 products across grocery, perishables, smartphones, electronics accessories, and stationary items within 90 minutes to customers.

When a customer places an order, the items are sourced from local neighborhood stores, warehouses and retail chains. Flipkart Quick — initially operational in Whitefield, Panathur, HSR Layout, BTM Layout, Banashankari, RK Puram and Indiranagar among other suburbs of Bangalore — allows customers to book a convenient two-hour slot between 6am to midnight for delivery. Read More

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TechCrunch

India’s top fitness and wellbeing startup Cure.fit expands to the U.S. – TechCrunch


Indian fitness and wellbeing startup Cure.fit, which has established a market leading position in the country in four years of its existence, is ready to stretch to a new geography.

The Bangalore-headquartered startup said on Wednesday it has launched a range of its digital services — including its fitness service Cult.fit and Mind.fit, through which it offers therapy, medication, and yoga sessions — in the United States, its first market outside of India.

Global expansion has long been one of the key goals for Cure.fit, said Mukesh Bansal, co-founder and chief executive of the startup, in an interview with TechCrunch. “But we had originally planned to expand after five years of operations in India,” he said. Read More

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TechCrunch

Google backs India’s Reliance Jio – TechCrunch


Reliance Jio continues to add billions of dollars to its bank account, Apple scores a tax victory in Europe and researchers test a system for undersea Wi-Fi (with lasers!). Here’s your Daily Crunch for July 15, 2020.

Google invests $4.5 billion in India’s Reliance Jio Platforms

Another giant tech company has invested in India’s largest telecom, following Facebook’s investment a couple of months ago. Reliance Jio has raised about $20.2 billion in the past four months — more than the entire Indian startup ecosystem raised last year. Google and Reliance Jio will also be working together to develop low-cost Android smartphones. Read More

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Engadget

Google buys $4.5 billion stake in India’s biggest mobile network


That was followed in early July by a $250 million investment by Intel Capital, the chip giant’s investment division, which picked up a 0.39 percent stake. Just a few days later, Qualcomm’s own financial division paid around $97 million for a 0.15 percent stake of Jio. Naturally, the focus there was on the use of cloud computing, 5G and other technologies that Intel and Qualcomm can help work with Jio on.

Jio became India’s biggest mobile network, as well as offering other digital services, by spending big to offer reliable, low-cost service to millions of Indians. That left the company with significant debt, which these investments — as well as a chunk of cash from Saudi Arabia — has now paid off. Fortune believes that Jio’s head, Mukesh Ambani is preparing the company for an IPO in the hope of a blockbuster initial valuation. If that’s the case, then it may not take very long for these investments to start bearing significant fruit for the companies which made them.  Read More

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TechCrunch

Google invests $4.5 billion in India’s Reliance Jio Platforms – TechCrunch


Google has become the latest high-profile investor in India’s Reliance Jio Platforms. The search giant is investing $4.5 billion for a 7.7% stake in the top Indian telecom network, Reliance Jio Platforms chairman said on Wednesday.

More to follow…



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TechCrunch

Qualcomm to invest $97 million in India’s Reliance Jio Platforms – TechCrunch


Qualcomm has become the latest high-profile backer of four-year-old Reliance Jio Platforms, which has raised more than $15.7 billion in the past 12 weeks from as many investors.

On Sunday evening, Qualcomm Ventures said it will invest $97 million in Reliance Jio Platforms to acquire a 0.15% equity stake in the top Indian telecom operator.

Steve Mollenkopf, chief executive of Qualcomm, said the firm believes that Reliance Jio Platforms, which has disrupted the Indian telecommunications market by offering cut-rate voice and data plans, “will deliver a new set of services and experiences to Indian consumers” in the future. Read More

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TechCrunch

A glint of hope for India’s food delivery market as Zomato projects monthly cash burn of less than $1M – TechCrunch


Food delivery startups in India have been struggling to make financial sense for years. They have each lost as much as $50 million a month to win and sustain customers by offering discounts. And unlike some other markets, food delivery startups have been severely hit by the coronavirus pandemic.

But Zomato, one of the two market leading startups operating in the space, today offered a rare sign of hope for the market after it said it had severely cut its cash-burn as it looks to become profitable. Read More