Ola Electric Launches Gig Scooter for ₹39,999 - Indian Startup News 237

Hackathon Link: https://bit.ly/bwmadventai

Welcome to the Backstage with Millionaires weekly news show, hosted by Caleb Friesen. This week, Ola Electric has launched their latest scooter, Gig, TakeMe2Space is launching their technology demonstrator, PhonePe is developing an on device ML framework, and Amazon is entering quick commerce in India with Tez.

Notion database: https://meadow-pillow-7fa.notion.site...

This week’s funding: https://meadow-pillow-7fa.notion.site...

Funding over time: https://docs.google.com/spreadsheets/...

00:00 Ola Gig
2:08 Intel Liftoff Hackathon - Sponsored
3:05 TakeMe2Space Space Lab
4:17 Phonepe ML Framework, Edge
5:14 Amazon Tez
6:16 Tata Neu Flash
6:24 Deepinder Goyal’s Salary
6:54 Uber One
7:07 EndureAir Delivers Sabal 20 Drones
7:21 Funding News

Ola Gig

Ola Electric has launched their most affordable electric scooter and it only costs ₹39,999 rupees. The Ola Gig is an electric scooter that’s specifically designed for gig workers. Ola Electric has also launched a second version called the Ola Gig+ as well as new updates to their S1 series, the S1 Z and S1 Z+ and these scooters offer 70 kilometres per hour top speed and a range of 75 kilometres per charge with one battery. Apart from this Ola Electric has also launched the PowerPod, an inverter that lets you use your scooter’s battery to power your home.

Intel Liftoff Hackathon

The Advent of Multimodal AI Hackathon is being put on by Intel Liftoff. They are offering prizes worth $10,000 in Intel Tiber AI Cloud credits, and winners will also get a feature on the Intel Liftoff blog, and an interview on their podcast. This Advent of Multimodal AI Hackathon is virtual and it’s going to be happening between the 11th and 13th of December, 2024. The registration deadline is the 5th of December. The focus of the Advent of Multimodal AI Hackathon will be multimodal applications, model inference, RAG, and AI vision, and participants will have access to the Intel Tiber AI Cloud with dedicated learning resources, Jupyter notebooks, and access to Intel GPUs and CPUs.

TakeMe2Space Space Lab

India is getting its first AI lab in space. Hyderabad-based spacetech startup TakeMe2Space is gearing up to launch their ambitious project called My Orbital Infrastructure - Technology Demonstrator aboard ISRO’s PSLV C60 in mid-December.

Phonepe ML Framework, Edge

PhonePe has launched a machine learning framework called Edge. It is an on-device AI system that processes data directly on users’ phones or tablets. By handling tasks locally, PhonePe Edge aims to improve response times, reduce dependency on internet connectivity, and enhance data privacy by limiting the need to send sensitive information to external servers.

Amazon Tez

After failing to acquire Swiggy Instamart, Amazon is now gearing up to launch its own quick commerce platform codenamed Amazon Tez. Reports suggest the launch could happen as early as December 2024.

Tata Neu Flash

Tata Neu has launched the pilot of their quick commerce service Neu Flash and it is already live in more than 20 cities.

Deepinder Goyal’s Salary

Zomato’s Deepinder Goyal has said that he won’t be taking any salary until FY26. His base salary is 3.5 crore rupees per annum and Deepinder hasn’t been taking any salary since April 2021.

Uber One

Uber has introduced their Uber One subscription plan in India.

EndureAir Delivers Sabal 20 Drones

Drone startup EndureAir Systems has delivered their Sabal 20 drones to the Indian army. These drones can carry 20 kilograms of payloads and will be used to replace Mules, Ponies and even helicopters.

Funding

This week Indian startups raised $83M. Pune-based credit card startup OneCard raised $28.5M. Bengaluru-based e-commerce enabler ShopDeck raised $8M in their seed round. Mumbai-based Elchemy raised $5.6M in their Series A round. Bengaluru-based smart kitchen appliances startup Beyond Appliances raised $2M in their seed round. Delhi-based biomaterials startup Ukhi raised $1.2M in their pre-seed round. Mumbai-based True Diamond raised $1M in their seed round.