India

Oyo’s net income nose-dived 69% to USD 558 million in the financial year ended March 31, 2021, from USD 1.8 billion in FY 2020—the year before the pandemic hit.

Mentors shared lessons, while the new Chinaccelerator cohort was revealed.

In this round of India Digest from September 24 to September 30, 2021, read our big story of the week, the weekly buzz, and more.

The US-based, thesis-driven investment firm recently entered India to back firms that are active in the electric mobility transition.

How many multifunctional apps do we need?

With the new funding, Ola Electric plans to accelerate the development of electric scooters and motorbikes as well as electric cars.

The latest investment has shot up Meesho’s valuation to USD 4.9 billion from USD 2.1 billion in April 2021—a rise of 133%.

Popular livestreamers may be Chinese regulators’ next target as the government reshapes internet culture and commerce.