Railway super app soon🚂
Ola Electric’s market share rises to 30%, UPI achieves 10% growth, Centre to curb unauthorised use of PAN, Funding Deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
"Change happens in an instant. It happens the moment you DECIDE to change."
— Allyson Lewis
Today, Lewis’s empowering words remind us that the spark of change lies in a single decision. It’s in our choice to act differently that transformation begins.
Often, we wait for the "right time" to make changes, but the true transformation is sparked by the courage to make a decision and commit to it.
Tech Updates
Ola Electric’s two-wheeler market share rises to 30% in October
After consecutive declines in market share, electric two-wheeler manufacturer Ola Electric regained traction in October with sales increasing during the festive period. Ola Electric sold 41,605 units in October, up from approximately 24,726 units in September—a 68% month-on-month rise. Subsequently, the Bengaluru-based company's market share also climbed to 30% in October, compared to 27% the previous month.
UPI achieves 10% month-on-month growth in October
Unified Payments Interface (UPI) witnessed decent growth in transaction volume and value from September to October 2024. In October, the digital payment platform recorded 16.58 billion transactions, a 10% increase from September’s 15.04 billion, according to data published by the National Payments Corporation of India (NPCI). The transaction value surged 14% to Rs 23.50 lakh crore in October from Rs 20.64 lakh crore in September. This growth was fueled by a 45% year-over-year rise in transaction count and a 37% rise in transaction value.
One railway app for ticketing, tracking trains expected to make its debut in December
The Indian Railways is expected to launch its super app - a one-stop offering for passenger services - by December-end, officials aware of the plan said. The mobile app is being developed by Centre for Railway Information Systems (CRIS), and will integrate with the Indian Railway Catering and Tourism Corporation (IRCTC), the officials added. The app will offer a host of services including booking passenger and platform tickets and checking train status, they said.
Centre to curb unauthorised use of PAN details by tech companies
The Ministry of Home Affairs (MHA) has instructed the Indian Cybercrime Coordination Centre (I4C) to crack down on all forms of unauthorised use of personal data of Indian citizens across multiple platforms. The Income Tax department has been directed by I4C to stop unauthorised database access, targeting fintech companies' data harvesting practices.
Funding Deals
EvoluteIQ has announced a successful $20 million equity and debt funding round. The investment was led by Round2 Capital, with contributions from Nordea Growth Fund, Dcap Select, and PH Ventures.
Mumbai-based home loans platform Easy Home Finance is raising Rs 210.35 crore in a round led by Ranjan Pai’s Claypond Capital and SMBC Asia.
EV-as-a-Service platform Hala Mobility has raised Rs 51 crore (around $6 million) in its pre-Series A round from founders Srikanth Reddy and Snehith Reddy, Phani Ramineni (founder of Previa Health), along with Rohan Bajaj syndicate via invstt, Sarthy Angels, Bestvantage and a network of high-net-worth individuals (HNIs) and family offices.
Health-tech platform Viraa Care has raised $108,000 in a pre-seed funding round from a group of European angel investors.
🛣️ Short Story: The Turning Point
Max had struggled with procrastination for years, always putting off important tasks and goals. One day, feeling frustrated by missed opportunities, he decided he was done with the cycle.
Inspired by Lewis’s quote, Max made a firm decision to start tackling his goals immediately, even if he had to start small.
From that moment, he took action daily, and slowly but surely, his productivity improved. His decision to change in that instant was the key to a series of positive shifts in his life.
Tweet of the day🐥
As you go through today, remember that change begins with a single decision. Don’t wait for the perfect moment; choose to start now.
Rise & Shine is here to encourage you to embrace the power of decision-making and make today the start of something new.
Have an empowered and change-filled Tuesday!
Thanks for reading till the end!