Latest news with #SauravKumar
Entrepreneur
3 days ago
- 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.
Economic Times
19-05-2025
- Automotive
- Economic Times
Euler Motors raises Rs 638 cr in funding round led by Hero MotoCorp
Mumbai: Electric commercial vehicle startup Euler Motors on Monday announced that it has raised Rs 638 crore in a Series D funding round led by Hero MotoCorp. The round also saw participation from existing investor British International Investment (BII), the UK's development finance institution, Euler Motors said in a statement. With this round, Euler Motors has, so far, raised approximately Rs 1,420 crore in various funding rounds, it added. This fresh capital infusion will be utilised in expanding the company's sales and service network while advancing new product development, the statement said. Euler Motors said it has secured investment amid rapidly scaling operations and strengthening of leadership in the commercial EV segment. The company has seen strong adoption across the e-commerce, retail and logistics segments, backed by a growing portfolio, comprising the electric three-wheeler high-HiLoad EV and the recently launched four-wheeler LCV StormEV. "We welcome Hero MotoCorp as a strategic investor in Euler Motors. This is a strong vote of confidence both in India's commercial electric mobility future and in Euler Motors' execution and products," Euler Motors founder and CEO Saurav Kumar said. With this fresh capital and strategic backing from new and existing investors, the company is set to accelerate its scale and continue innovating to deliver superior products, he added. "As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility," said Pawan Munjal, Executive Chairman, Hero MotoCorp. Founded in 2018, Euler Motors investors include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund. "...Since our initial investment in 2023, Euler Motors has advanced e-mobility adoption and created better jobs. This aligns closely with our ambition to support India's net-zero emissions target and enables us to drive scalable impact in a sector vital to both economic growth and environmental progress," said Abhinav Sinha, Managing Director and Head of Technology, Telecoms and Sustainable Industrials at British International Investment.
Business Mayor
19-05-2025
- Automotive
- Business Mayor
Euler's fundraise; Qcomm, a small piece of FMCG pie
EV maker Euler Motors has raised fresh funding led by Hero MotoCorp. This and more in today's ETtech Top 5. Also in the letter: ■ PB Fintech on the bourses■ Ola's work culture under fire again ■ What to expect at Google I/O Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp Saurav Kumar, founder, Euler Motors Electric commercial vehicle maker Euler Motors has raised Rs 638 crore in fresh funding. 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. Also Read: Euler Motors secures $20 million in debt funding for expansion Quick commerce sprints ahead but still a small slice for FMCG giants 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. Driving the news: 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. 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 Read More YouTube lifts restrictions on Trump's account Growth channel: 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. PB Fintech loses post-result gains amid falling markets Alok Bansal and Yashish Dahiya, founders, PB Fintech PB 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. What's happening: 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%. 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: 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%. Ola under fire again: employee suicide sparks fresh criticism of toxic work culture Bhavish Aggarwal, founder, Krutrim Social media has erupted after allegations of toxic work culture surfaced at Ola's AI division, Krutrim. What's the matter? The backlash followed the reported suicide of Nikhil Somwanshi, a machine learning engineer who had been with Krutrim since August last year. The news first emerged via a Reddit post on Thursday, sparking widespread outrage. Ola's response: Ola stated that Somwanshi was on personal leave at the time of the incident. The company noted that he had reached out to his manager on April 8, citing the need for rest, and was granted personal time off. His leave was extended after he expressed the need for additional rest on April 17. Ola said it is cooperating with the authorities and supporting Somwanshi's family. The controversy: A former Ola Krutrim employee claimed, 'They are doing utterly mediocre work with incompetent management and leadership. Toxicity is through the roof, as is nepotism.' Despite repeated queries, Ola did not respond to ET's specific questions about the work environment. Constant churn: Krutrim has witnessed nearly a dozen exits at junior to senior management levels in the past year, including key figures like applied AI director Ashish Kumar and VP of products Vipul Shah. Also Read: Ola Krutrim business head Ravi Jain quits Mental health support: If you or someone you know is struggling, Tele MANAS offers free, 24/7 mental health support via a national toll-free helpline: 14416 / 1800-89-14416. Also Read: Ola Electric's market share dips below TVS amid sharp drop in April sales AI to steal the show at Google I/O 2025 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. 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: 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 . How to watch: 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. READ SOURCE businessmayor May 19, 2025
