Latest news with #SauravKumar
India Gazette
13-06-2025
- Business
- India Gazette
Doctors move SC seeking Rs 50 lakh interim compensation for Air India plane crash victims
New Delhi [India], June 13 (ANI): Two doctors have filed a letter petition in the Supreme Court, seeking directions to the Central government to provide adequate compensation to the victims of the Air India flight AI -171 crash near Ahmedabad airport. The plea, filed on Friday by Dr Saurav Kumar and Dr Dhruv Chauhan, has urged the SC to direct the Central government to immediately announce and disburse interim compensation of Rs 50 lakh for the families of all deceased victims, including resident doctors from Ahmedabad's BJ Medical College who were among those killed. The plea states that as per various constitutional provisions and a 2020 Supreme Court judgement which laid down detailed principles for assessing compensation, it is the state's duty to take concrete remedial action, in this regard. The plea has further called for the constitution of a High-Level Expert Committee comprising retired judges, aviation experts, actuaries and economists to assess and determine final compensation based on principles established in the 2020 Supreme Court judgement. Moreover, the petition seeks directions for the Central Government to provide rehabilitation support, including employment opportunities for eligible family members of the deceased persons and for a thorough investigation into the cause of the crash with necessary steps to prevent similar incidents in the future. The plea has been filed by Advocate Satyam Singh Rajput on behalf of the two doctors. Following the crash, the Tata group, which owns Air India, announced a compensation of Rs 1 crore each for the families of those who lost their lives in the tragic Air India plane crash on Thursday. The Directorate General of Civil Aviation (DGCA) has also ordered enhanced safety inspections on Air India's Boeing 787-8/9 fleet. As a preventive measure, the DGCA has directed Air India to carry out additional maintenance actions on B787-8/9 aircraft equipped with Genx engines with immediate effect, in coordination with the concerned regional DGCA offices. Of the passengers, 241 died in the crash. The lone survivor, identified as Vishwashkumar Ramesh, a British national of Indian origin, sustained injuries and is undergoing treatment. (ANI)
Fashion Network
02-06-2025
- Business
- Fashion Network
Black by KiranaPro acquires Likeo for AR fashion trials
KiranaPro, India's fully ONDC-integrated, AI-powered quick commerce platform, has acquired Likeo, a startup specialising in augmented reality–based virtual try-on technology. The move will integrate Likeo's immersive trial room feature into Black, KiranaPro's fashion commerce platform aimed at Gen Z and tech-savvy consumers. With this development, Black becomes the first app in India to offer AI-powered virtual try-ons across apparel, jewellery, and eyewear, the business announced in a press release. The feature blends interactivity, personalisation, and visual computing, aiming to offer users a frictionless, engaging shopping experience. 'This acquisition is a bold step in our vision to reinvent online shopping in India,' said KiranaPro's founder and chief executive officer Deepak Ravindran in a press release. 'Black is not just an app- it's a cultural movement, and Likeo's tech allows us to give users a mirrorless shopping experience that's deeply personal, fun, and frictionless.' As part of the deal, Likeo's founder and chief executive officer, Saurav Kumar, will join KiranaPro's leadership team to drive innovation in AI and visual computing. The Likeo-powered trial room will begin rolling out on Black in the coming weeks, starting with early access for fashion and accessories. 'Joining KiranaPro to build for Black is the perfect match of vision and velocity,' added Saurav Kumar. 'With Black, we finally have a canvas to scale this to millions- making shopping more playful, expressive, and real.'
Entrepreneur
30-05-2025
- Business
- Entrepreneur
KiranaPro Acquires Likeo to Revolutionise Fashion Commerce with Virtual Try-Ons
With this acquisition, BLACK aims to offer AI-powered virtual try-ons across fashion categories, enabling real-time, personalised digital product trials and transforming the online shopping experience for Gen Z users. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. KiranaPro, a leading ONDC-integrated, AI-powered quick commerce platform, has announced the acquisition of Likeo, a cutting-edge startup specialising in augmented reality (AR)–driven virtual try-on technology. This bold move marks a significant leap in the evolution of KiranaPro's fashion commerce initiative, BLACK — a curated shopping destination designed for Gen Z and tech-native consumers. With this acquisition, BLACK claims to have become the first app in India to offer AI-powered virtual try-ons across apparel, jewellery, and eyewear. Users will now be able to try on products digitally in real time, transforming product discovery into an immersive, highly personalised experience. "This acquisition is a bold step in our vision to reinvent online shopping in India," said Deepak Ravindran, Founder and CEO of KiranaPro. "BLACK is not just an app — it's a cultural movement, and Likeo's tech allows us to give users a mirrorless shopping experience that's deeply personal, fun, and frictionless. With Saurav joining us, we're doubling down on AI and visual intelligence to redefine how Gen Z discovers and shops online." As part of the acquisition, Saurav Kumar, Founder and CEO of Likeo, will join the KiranaPro leadership team to spearhead innovation in AI and visual computing — the foundational engines behind BLACK's next phase. "Joining KiranaPro to build for BLACK is the perfect match of vision and velocity," said Saurav. "We've always believed virtual try-on can remove hesitation and bring confidence to the online purchase journey. With BLACK, we finally have a canvas to scale this to millions — making shopping more playful, expressive, and real." The virtual try-on feature will begin rolling out to BLACK users in the coming weeks, with early access provided to fashion and accessory enthusiasts. This new capability aims to enhance shopping confidence, reduce return rates, and offer a uniquely interactive experience. By acquiring Likeo, KiranaPro is cementing its role as a technology-first retail pioneer — not just empowering kirana stores via ONDC, but also reshaping the future of expressive commerce for the digital generation.
Entrepreneur
24-05-2025
- Automotive
- Entrepreneur
Startups Powering Ahead: This Week's Most Notable Investment Wins
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's startup ecosystem continues to boom, with innovative ventures across mobility, cybersecurity, entertainment, climate tech, biotech, and fintech securing impressive funding rounds this week. Each of these companies is tackling a unique global challenge with bold solutions and visionary leadership. Here's a look at the standout startups that raised significant capital between May 17 and May 23. Euler Motors Founded by Saurav Kumar in 2018, Euler Motors is an automotive OEM headquartered in New Delhi. The company focuses on electric commercial vehicles, primarily three- and four-wheelers. Its flagship product, the HiLoad EV, is touted as the most powerful electric three-wheeler in India. The recent launch of the StormEV, a four-wheeled light commercial vehicle equipped with ADAS, shows Euler's push towards advanced, eco-friendly mobility solutions. Funding Amount: USD 77 Million Investors: Hero MotoCorp, British International Investment (BII) CloudSEK Launched in 2015 by cybersecurity expert Rahul Sasi, Bengaluru-based CloudSEK provides AI-powered threat intelligence tools. Its platform helps enterprises identify and mitigate cyber threats before they escalate, offering real-time risk intelligence. With a growing demand for cybersecurity solutions, CloudSEK's predictive tools are vital for digital security. Funding Amount: USD 19 Million Investors: MassMutual Ventures, Inflexor Ventures, Prana Ventures, Tenacity Ventures, and others Mythik Mythik, a Mumbai-based entertainment-tech company, was founded in 2025 by Jason Kothari. Positioned as the "Disney from the East," Mythik aims to modernise and globalise Eastern mythology, folktales, and historical stories. Leveraging immersive technology, the company targets a global audience of over 3.5 billion people with rich cultural content. Funding Amount: USD 15 Million Investors: Sakal Media Group, BITKRAFT, Shah Rukh Khan's family office, and others including notable individuals like Jaynti Kanani and Saif Saeed Ghobash Alt Carbon Founded in 2023 by Shrey Agarwal and Sparsh Agarwal, Alt Carbon is a Bengaluru-based climate tech company. It uses Enhanced Rock Weathering (ERW)—spreading basalt rock dust on farmlands—to capture CO₂ and improve soil health. This scalable solution not only addresses climate change but also boosts crop yields, offering environmental and agricultural benefits. Funding Amount: USD 12 Million Investors: Lachy Groom, Shastra VC, Tanmay Bhat, Nakuul Mehta, and others Biostate AI Founded by David Zhang and Ashwin Gopinath, both former professors from Rice and MIT respectively, Biostate AI is bringing generative AI to molecular medicine. The US-based startup has developed affordable, high-throughput RNA sequencing technologies (like BIRT and PERD) to fuel an AI platform capable of decoding human diseases. Funding Amount: USD 12 Million Investors: Accel, Gaingels, InfoEdge Ventures, Dario Amodei, Emily Leproust, and more Data Sutram Established in 2018 by Rajit Bhattacharya, Ankit Das, and Aisik Paul, Data Sutram is a Mumbai-based AI startup focused on fraud detection and risk analysis for financial institutions. Their proprietary Trust Score scans digital footprints to identify fraud, synthetic identities, and collusion, helping clients manage compliance and mitigate risk. Funding Amount: USD 9 Million Investors: B Capital, Lightspeed These startups showcase the depth and dynamism of the Indian and global tech ecosystem, with each venture addressing pressing issues—from sustainable mobility and climate change to storytelling and molecular diagnostics. Their successful funding rounds not only validate their innovative approaches but also set the stage for impactful growth in their respective industries.
Mint
19-05-2025
- Automotive
- Mint
Hero-backed Euler Motors eyes profitability by 2029 after aggressive expansion
Hero MotoCorp-backed electric commercial vehicle maker Euler Motors plans to double its revenue in 12-15 months and achieve profitability by 2029. The company, which makes electric three- and four-wheeler commercial vehicles, is planning an aggressive expansion of its sales and distribution network to 80-100 cities in the next 12-15 months, up from 40 cities currently. This came after the Delhi-based company closed a ₹638 crore Series D funding round led by Hero MotoCorp, which also marked the entry of the country's largest two-wheeler player in the electric three-wheeler segment. Also read: Hyundai Motor looks to accelerate speed with EV, hybrid car 'The fundraise will help us in solidifying our presence across the country and invest in better products for our customers," Saurav Kumar, founder and chief executive at Euler Motors, told Mint. Hero announced in March 2025 that it is investing ₹525 crore in the start-up to acquire a 32.5% stake. Previously, Hero had also invested in Ather Energy Ltd. and currently holds about 30% of the listed entity. 'Hero and Euler can create a lot of synergies together. But at this point, it is just an investment. We want to take some of their learnings and apply them to our own company," Kumar said. Other investors in the round included British International Investment (BII), the UK's development finance institution. According to Tracxn, the founder held a 9.82% stake in the company before the conclusion of this funding round. On the board At present, the company, founded in 2018, has not clarified whether a member of Hero MotoCorp will join the board of Euler Motors. In FY2024, its losses stood at ₹226 crore, while revenue was recorded at ₹189 crore. The company has not yet filed its FY2025 results with the corporate affairs ministry. 'Profitability and scale go hand in hand auto segment. It is still early in our journey, but profitability should come as we increase sales and improve gross margins," Kumar noted. Euler Motors sold about 3,226 electric three-wheelers in FY2025, largely catering to the commercial vehicle segment. Competitors in the space include Bajaj Auto Ltd, Mahindra and Mahindra Ltd, and Piaggio Group. Also read: Hero MotoCorp vs Eicher Motors: Which 2W stock looks better after Q4 performance? Its presence in the four-wheeler segment is still nascent and continues to get most of its revenue from the three-wheeler segment. The country's three-wheeler market is fragmented, with over 500 players. Euler has a single-digit market share in the overall market, which is led by Mahindra. Speaking about the investment in Euler, Hero management mentioned in a post-results earnings call on 14 May that its investments in these start-ups are part of a long-term strategy as it looks to collaborate with these companies. The electric three-wheeler market has been growing rapidly, with nearly 50% penetration in the overall market. In the financial year 2025, there were about 699,073 electric three-wheeler sales in the country. 'The expansion of big players in the segment is good as it will help grow the pie. We had to compete with CNG players and now have to compete with their variants in the electric space, so it's not a new thing for us," Kumar said. While Euler expands its bid, competition in the electric three-wheeler space is also expected to tighten. Bajaj Auto has already announced several new products in the segment and is looking to introduce more products in both the commercial and passenger segments. Also read: 'India to have 123 million EVs on the road by 2032 under best-case scenario' 'There are going to be a lot better products. The electric three-wheeler market will consolidate in favour of the large players. We were late entrants as we took time to develop a product customers would appreciate," Samardeep Subandh, president-Intracity Business Unit at Bajaj Auto, said in an interview in March.
