News Update
Ola Electric sales reach 20,000 units in October 2022
-
ByStartupStory | November 2, 2022
Ola Electric stated on Tuesday that 20,000 units were sold in October 2022. The business, which sells the S1 Pro and S1 electric scooters, claimed to have had a successful holiday season. According to a statement from the corporation, sales during Navratras increased four times over daily run rate and by ten times on Vijayadashami.
The company began the online purchasing procedure in September 2021 after opening reservations for its electric scooters S1 Pro and S1 at Rs 499 in July of last year. It had originally intended for deliveries to begin in October, but later changed its mind, pushing the start date to November and then again to the second half of December. A 4.5KW hub motor and a 2.5KWh battery pack power the S1 Air. It has an 85 km/h top speed and weighs 99 kg.
With the launch of its electric scooters, the S1 and S1 Pro, priced at Rs 99,999 and Rs 1,29,999, respectively, in August of last year, the company entered the field of green mobility. However, the company had to postpone the delivery of its eagerly anticipated products due to a global semiconductor shortage. Bhavish Aggarwal, the founder and CEO of Ola, stated earlier this month that the business is increasing production of its e-scooters while at the same time increasing capacity at its factory in Krishnagiri, Tamil Nadu, to meet future demand.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
