Indian Startup News Ep 47: Pravaig's 'Made in India' Electric Car, Tata Could Make Iphones & More

This week in Indian Startup News, Pravaig Dynamics launches India’s first Made in India luxury Electric Car, Apple is reportedly partnering with Tata to manufacture iPhones in India, Spacetech startups Agnikul Cosmos and Pixxel partner with ISRO and Walmart spins off PhonePe into an independent entity and is planning a Flipkart IPO in the US.

In funding news, Cuemath raises $40 million, DealShare raises $21 million and FreshToHome raises funds from ADIO.

00:00 Introduction
00:28 Pravaig Dynamics unveils Made in India luxury electric car
03:13 Apple is reportedly partnering with Tata to manufacture iPhones in India
05:40 Spacetech startups Agnikul Cosmos and Pixxel partner with ISRO
07:02 Walmart spins off PhonePe into an independent entity and is planning a Flipkart IPO in the US
08:20 Cuemath raises $40 million
09:21 DealShare raises $21 million
10:28 FreshToHome raises funds from ADIO

Pravaig Dynamics unveils Made in India luxury electric car: Indian EV startup Pravaig Dynamics has launched a made in India electric car called Extinction Mk I. Talking about the specifications, Extinction Mk I will be the first made in India electric car to have a range of more than 500 km (310 miles), its battery will achieve 80% charge in 30 minutes and is expected to have a 5-star safety rating by the Global NCAP. However, most of us will not be able to buy Pravaig’s Extinction Mk I as it will only be available for lease to fleet operators, along with a trained chauffeur. The company will roll out just 2,500 Extinction Mk I cars every year and they will initially be available in Delhi and Bengaluru.
https://www.evoindia.com/news/pravaig-extinction-electric-car-for-fleet-operators-manufactured-by-tata-motors

Apple is reportedly partnering with Tata to manufacture iPhones in India: According to a recent, Economic Times report, Apple is partnering with Tata to manufacture iPhone in India. Tata Sons is looking to invest $1.5 billion (Rs 11,000 crore) to set up a manufacturing facility in Tamil Nadu. Manufacturing of iPhones at this facility is expected to begin as early as 2021.
https://www.moneycontrol.com/news/business/economy/explained-why-your-next-iphone-could-be-made-in-india-and-what-it-means-for-the-country-6207091.html

Spacetech startups Agnikul Cosmos and Pixxel partner with ISRO: Agnikul Cosmos has signed a non-disclosure agreement (NDA) with the Department of Space (DoS) to work with ISRO and make use of their expertise and facilities to build their launch vehicle. Also, Pixxel, a spacetech startup that wants to launch a constellation of 24-30 earth observation satellites, was previously planning to launch its first satellite on a Russian Soyuz rocket in mid-2020 but the timeline got delayed. They are now looking to launch their satellite on ISRO’s PSLV rocket in early 2021.
https://economictimes.indiatimes.com/tech/startups/pixxel-to-launch-on-indian-rocket-not-russian/articleshow/79566272.cms
https://www.spacedaily.com/reports/Agnikul_Cosmos_sign_agreement_with_ISRO_as_an_IN_SPACe_Entity_999.html

Walmart spins off PhonePe into an independent entity and is planning a Flipkart IPO in the US: Walmart is spinning off PhonePe to make it an independent entity. And with this spin-off, Flipkart’s stake will now come down to 87% and Walmart is expected to get 10%, while the remaining 3% will go to other investors. Walmart has also invested $700 million, taking PhonePe’s valuation to $5.5 billion. Apart from that, there are also reports that Walmart is planning a $10 billion Flipkart IPO in the US.
https://techcrunch.com/2020/12/02/phonepe-raises-700-million-becomes-a-separate-entity/
https://www.livemint.com/market/ipo/walmart-readies-for-10-bn-flipkart-ipo-11607300769974.html

Cuemath raises $40 million: Cuemath has raised $40 million from LGT Lightstone Aspada, Falcon Edge, CapitalG, and Sequoia Capital.
https://www.vccircle.com/capitalg-backed-online-learning-startup-cuemath-raises-series-c-funding/

DealShare raises $21 million: DealShare has raised $21 million from WestBridge Capital, Alpha Wave Incubation, Z3Partners, Matrix Partners India and Omidyar Network India.
https://techcrunch.com/2020/12/08/dealshare-raises-21-million-to-expand-its-e-commerce-platform-to-100-indian-cities-and-towns/

FreshToHome raises funds from ADIO: FreshToHome has raised funds from Abu Dhabi Investment Office (ADIO). ADIO has invested a total of $41 million (Rs 302 crore) in FreshToHome and two agritech startups Pure Harvest and Nanoracks.
https://www.cnbctv18.com/startup/freshtohome-to-receive-funding-from-abu-dhabi-investment-office-for-boosting-agtech-in-the-uae-7665071.htm

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