Reliance acquires stake in Sosyo🍸; Ola launches 1000-car EV cab service🚕; Nadella praises India🙏🏻
Reliance Retail FMCG arm acquire 50% stake in Sosyo Hajoori Beverages, Ola set to pilot new EV cab service in Bengaluru, Satya praises India, Funding Deals and more.
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Reliance Retail FMCG arm to acquire 50% stake in Sosyo Hajoori Beverages🍸
Reliance Retail Ventures Ltd's subsidiary will acquire a 50 percent stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited.
The FMCG arm, Reliance Consumer Products Limited, is the wholly owned subsidiary of Reliance Retail Ventures Limited and has acquired stake in the Sosyo Hajoori Beverages Pvt Ltd which operated a beverage business under the brand ‘Sosyo’.
SHBPL, operated by Abbas Hajoori and Aliasgar Hajoori, has several beverage brands in its portfolio including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S’eau.
With this, Reliance Retail aims to strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa.
Ola set to pilot new EV cab service in Bengaluru with around 1,000 cars🚕
Ola is planning to start its own electric vehicle (EV) cab service and will begin the pilot in Bengaluru with around 1,000 cabs.
This will be Ola’s second pilot with EV cabs. It launched a similar pilot in Nagpur in 2017, in partnership with vehicle manufacturer Mahindra. The project, which involved around 200 EVs, was eventually shut down.
The service is similar to that of Gurugram-based EV ride-hailing company BluSmart, which recently started operations in Bengaluru. Ola’s main rival Uber also recently started an EV cabs pilot in Delhi.
The new service will be available on the Ola app as a separate category along with regular cabs and auto rickshaws.
Rural-focused lending and distribution platform SarvaGram has closed its Series C round at $35 million. Elevar Equity led the round which also witnessed the participation of Elevation Capital, Temasek, and TVS Capital.
Stage, a dialect-based over-the-top (OTT) platform has raised Rs 40 crore in funding in a round led by Blume Ventures, with participation by NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, and Tarmac Ventures, among others.
India’s lead on digital public goods is extraordinary: Satya Nadella🙏🏻
Microsoft chairman and chief executive Satya Nadella on Tuesday lauded digitisation initiatives in India and said the country’s lead in creating digital public goods is extraordinary.
Nadella is on a four-day official visit to India, where he will visit Mumbai, New Delhi, Bengaluru, and Hyderabad to meet key customers, startup executives, developers, non-profit organizations, and students.
Nadella said there is huge scope for growth in the cloud adoption market in India, adding that this is imperative for economic growth with low energy consumption.
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