Harsh Upadhyay

Senior Correspondent at Entrackr

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Articles

Vanguard values Ola at $1.25 Bn

6 days ago | entrackr.com | Harsh Upadhyay

US-based asset management company Vanguard has marked down Ola’s valuation to $1.25 billion, according to a SEC filing in the US. This represents more than 80% drop from its peak valuation of $7.3 billion in 2021. In February 2024, Vanguard had valued the Bhavish Aggarwal-led company at less than $2 billion ($1.88 billion) for the first time. However, it later revalued the company at around $2 billion in November last year.
Porter raises $200 Mn led by Kedaara and Wellington Management

1 week ago | entrackr.com | Harsh Upadhyay

Porter, an on-demand goods transport agency, has raised $200 million in its Series F funding round, led by Kedaara Capital and Wellington Management. Existing investor Vitruvian Partners also participated in the round, which is a combination of primary investment and secondary share sales by select existing shareholders. As per several media reports, the company has been valued at $1.1-1.2 billion, making it the third unicorn of 2025.
Routematic raises $40 Mn led by Fullerton Carbon Action Fund and Shift4Good

1 week ago | entrackr.com | Harsh Upadhyay

Routematic, a provider of employee fleet management and transport automation solutions, has secured $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good. Routematic previously raised approximately $6 million across investment rounds led by Blume Ventures, VAMM Ventures, and Bosch between 2015 and 2021. In November 2020, it raised $2 million from Bosch Limited at a valuation of $28 million. The company's current valuation could not be ascertained.
Swiggy to transfer ownership of key food brands to Kouzina

1 week ago | entrackr.com | Harsh Upadhyay

Food service platforms Kouzina Food Tech has entered into a strategic agreement with Swiggy for the exclusive license of its digital-first food brands: The Bowl Company (TBC), Homely, Soul Rasa, and Istah. According to Swiggy's stock exchange filing, Kouzina will take charge of running, developing, and expanding the brands. After meeting specific agreed conditions, Swiggy will hand over full ownership of the brands to Kouzina.
Exclusive: Z47-backed GenWise lays off 20% of workforce

1 week ago | entrackr.com | Harsh Upadhyay

GenWise, an app-based online club for elders and senior citizens, has undergone layoffs across various departments, according to sources familiar with the matter who spoke to Entrackr. “The layoffs have impacted 20% (15-20 employees) of GenWise’s workforce across functions — including tech, marketing, product, design, business, and operations,” said one of the sources on condition of anonymity.
Evera Cabs takes over 500 BluSmart EVs

1 week ago | entrackr.com | Harsh Upadhyay

Evera Cabs (Prakriti Mobility) has initiated the repossession of 500 electric cabs formerly operated by BluSmart, following the latter’s operational suspension in key metros. With 220 vehicles already acquired and the remaining 280 set to be reclaimed in the coming days, Evera is strengthening its position as the leading electric cab service provider, with a strong focus on airport mobility. The company is on an acquisition spree with a funnel of 1,000 BluSmart cabs, Evera said in a press release.
Swiggy vs Zomato: Diverging paths in quick food delivery race

1 week ago | entrackr.com | Harsh Upadhyay

Foodtech major Zomato has shut down its 15-minute food delivery pilot, Quick, just four months after its launch. The move was confirmed during the company’s Q4 earnings announcement, where founder and CEO Deepinder Goyal cited operational challenges, stating that “the current restaurant density and kitchen infrastructure is not designed for 10-minute deliveries,” leading to inconsistent customer experience. The closure comes even as rival Swiggy is doubling down on ultra-fast delivery.
Ultrahuman loses first round in patent battle against Oura, may face US ban

1 week ago | entrackr.com | Harsh Upadhyay

Smart ring company Oura has secured an initial legal victory in its patent infringement case against Indian rival Ultrahuman, the Finland-originated company said in a blog post. In a ruling issued on April 26, the U.S. International Trade Commission (ITC) found that the company had violated key patents related to Oura's smart ring technology.
Oyo postpones IPO plans for third time: Report

1 week ago | entrackr.com | Harsh Upadhyay

Hospitality firm Oyo is reportedly postponing its planned October IPO following objections from its major investor SoftBank. This marks the third time the Gurugram-based company has delayed its plan to get listed on the stock exchange. According to a Bloomberg report, SoftBank has opposed the proposed timing and urged Oyo to delay its initial public offering until the company shows stronger earnings.
Indian startups' funding falls to $745 Mn in April: Entrackr report

2 weeks ago | entrackr.com | Harsh Upadhyay

Startup funding in India experienced a significant downturn in April, totaling $745 million— a sharp contrast to the $1.76 billion raised in January. This steep fall is primarily due to a decrease in large deals and a growing investor focus on public markets. Data also indicates that startup funding has remained relatively stagnant throughout the first four months of 2025. According to data compiled by TheKredible, Indian startups raised a total of $745 million across 116 deals in April.