Euler's fundraise; Qcomm, a small piece of FMCG pie
Euler's fundraise; Qcomm, a small piece of FMCG pie
Also in the letter:
Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp
Deal details:
The round was led by Hero MotoCorp, marking its entry into electric three- and four-wheelers. Existing investor British International Investment, the UK government's development finance arm, also participated.
Euler will use the capital to scale its nationwide sales and service network and fast-track new product development.
Tell me more:
Hero MotoCorp's investment underscores legacy automakers' growing interest in India's growing commercial EV market.
Earlier this year, Hero MotoCorp committed up to Rs 525 crore in Euler Motors over multiple tranches for a 32.5% fully diluted stake.
The company, which holds a 30.9% stake in electric two-wheeler maker Ather Energy, did not offload any shares in Ather's recent IPO.
Quote, unquote:
Also Read:
Quick commerce sprints ahead but still a small slice for FMCG giants
Driving the news:
HUL: Rs 1,214 crore (2%)
Rs 1,214 crore (2%) Britannia: Rs 675 crore (4%) 4% of sales, or Rs 675 crore.
Rs 675 crore (4%) 4% of sales, or Rs 675 crore. Tata Consumer Products: Rs 900 crore (7%)
Rs 900 crore (7%) Marico: Rs 244 crore (3%)
Rs 244 crore (3%) Dabur: Rs 500 crore (4%)
Rs 500 crore (4%)
Parle Products: 4% share
Growth channel:
PB Fintech loses post-result gains amid falling markets
What's happening:
PB Fintech Q4 results:
Net profit surged 185% to Rs 170 crore
surged 185% to Rs 170 crore Revenue rose 38% to Rs 1,507 crore
rose 38% to Rs 1,507 crore Policybazaar's annualised insurance premium collection has more than tripled to Rs 7,030 crore
Stock performance:
Ola under fire again: employee suicide sparks fresh criticism of toxic work culture
A look back:
Reports described his frequent outbursts over minor issues, such as missing page numbers and substandard paper quality.
He allegedly tore up presentations, imposed unrealistic 2 or 3 AM deadlines, and once made an employee run laps for leaving a gate open.
These incidents reportedly led to senior exits across Ola group companies.
Perform or perish?
Also Read:
The latest:
Also Read:
AI to steal the show at Google I/O 2025
What to expect:
The spotlight will be on the Gemini family of AI models, led by the launch of Gemini 2.5 Pro.
DeepMind's Project Astra and education-focused LearnLM could also feature prominently.
There's growing buzz around a possible preview of Samsung's Android XR headset, Project Moohan, pitched as a competitor to Apple's Vision Pro.
Beyond AI:
How to watch:
EV maker Euler Motors has raised Rs 638 crore in a round led by Hero MotoCorp. This and more in today's ETtech Top 5.■ PB Fintech on the bourses■ Ola's work culture under fire again■ What to expect at Google I/OSaurav Kumar, founder, Euler MotorsElectric commercial vehicle maker Euler Motors has raised Rs 638 crore in fresh funding.'At this stage, as we are thinking about our next ten years, we also wanted to bring investors on our cap table with whom we can build relationships to think over the next five to ten years about how we can build the business,' Euler, founder Saurav Kumar told ET.Quick commerce has emerged as the fastest-growing channel for consumer goods makers over the past two years, yet it still contributes just 2-4% to most large companies' total sales.Six of the largest fast-moving consumer goods (FMCG) firms reported over Rs 4,400 crore in quick commerce sales in FY25. Several disclosed the channel's percentage contribution to total revenues for the first time during recent earnings calls.Platforms like Blinkit, Swiggy Instamart, Zepto, and BigBasket recorded 50-100% year-on-year sales growth in FY25 for most large FMCG brands. These platforms are also scaling up across new geographies.HUL and AWL Agri Business noted that ecommerce and quick commerce channels offer better margins, thanks to a higher share of premium products sold through these formats.Alok Bansal and Yashish Dahiya, founders, PB FintechPB Fintech, the parent company of Policybazaar, gave up its recent gains on Monday despite reporting a near threefold jump in net profit for the March quarter.Shares of PB Fintech slipped sharply in early trade after a mildly positive open. The stock closed 3.74% lower at Rs 1,694 on BSE, underperforming the benchmark Sensex, which fell 0.33%.Over the past 12 months, PB Fintech shares have gained 24.6%, but are down 20% year-to-date. In comparison, the Sensex has risen 11% over the past year and 4.5% so far in 2025. The stock's 12-month price target stands at Rs 1,744, implying a potential downside of 2.1%.Bhavish Aggarwal, founder, KrutrimBhavish Aggarwal's AI startup, Krutrim, is under fire after the suicide of a 25-year-old employee , triggering widespread concerns about a toxic workplace culture. This is not the first time Aggarwal or his companies have faced such allegations.Aggarwal-founded Ola Cabs drew criticism in 2022 when Bloomberg reported on his aggressive and volatile behaviour with staff.When questioned, Aggarwal called himself a man of passion who might seem 'rough or rude.'Aggarwal doubled down at the Ola S1 launch in October 2022: 'We're not here to have a nice and easy time. My own personal style is aggressive. We have a culture of high quality and high execution."Reports say Nikhil Somwanshi, who joined Krutrim in August 2024, was overworked, doing the job of three, and subjected to harsh management.Google will put artificial intelligence front and centre at I/O 2025, which kicks off on May 20. CEO Sundar Pichai, DeepMind cofounder Demis Hassabis, and senior executives are expected to unveil major AI updates.Google may also introduce a Pinterest-style app that allows users to create and share image collections directly from Search results, according to The Information.The event starts at 10:30 PM IST (10 AM PT) on May 20 and will be livestreamed from the Shoreline Amphitheatre on Google's official YouTube channel.
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