Today's Tech Check- "MapmyIndia Shares Skyrocket, zepto's funding boost, phonepay collaborates with smartphone brands etc"
21June, 2024
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1. “MapmyIndia Shares Skyrocket to Record Highs After Goldman Sachs Gives 'Buy' Rating”
MapmyIndia shares surged to an all-time high of INR 2,745.05 on Goldman Sachs' "buy" rating.
Goldman Sachs initiated coverage with a price target of INR 2,800, citing MapmyIndia's strong market position in mapping and connected vehicle technologies.
The brokerage forecasts 38% revenue growth and stable EBITDA margins in the coming years.
MapmyIndia, a deeptech company specializing in mapping and location technologies, reported 49% year-over-year growth in its consumer and enterprise segment for FY24.
Over 2.5 million new vehicles integrated MapmyIndia's Mappls navigation system in FY24.
#company#citi#News#Technology#enterprise
2. “Zepto's Game-Changing $665M Funding Boost: Aims to Double Dark Store Network, Skyrockets Valuation to $3.6B”
Quick commerce platform Zepto raises $665 million at $3.6 billion valuation
Led by Glade Brook, Nexus, and StepStone; new investors include Avenir Growth
Funds to double dark store count from 350 to 700 by March 2025
GMV exceeds $1 billion, 75% of stores achieve EBITDA positivity
Co-founders Palicha and Vohra announce plans for public listing in 2026
Zepto faces competition from Zomato-backed Blinkit, Swiggy Instamart, and others
Surge in revenue to INR 2,024.3 Cr in FY23, net loss grows to INR 1,272.4 Cr
#Swiggy#B2C#News#commerce#billion#Zepto#valuation
3. “PhonePe Collaborates with Smartphone Brands to Pre-install Indus Appstore on New Devices”
PhonePe is in talks with smartphone manufacturers to pre-install Indus Appstore.
Indus Appstore aims to acquire 150 million users by year-end.
It has partnered with Nokia and Lava and is negotiating with other smartphone manufacturers.
The appstore focuses on transparent policies, fair commissions, and local support.
PhonePe launched Indus Appstore in 2022 to rival Google Play Store and Apple App Store.
#Apple#News#Google#manufacturers
4. “EKA Scores Another Win: Secures Second Funding Round from Mitsui in $100M Deal”
EKA secures second investment tranche from Mitsui ($200 crore).
Total investment: $100 million partnership with Mitsui and VDL Groep.
Investment supports: Expansion, manufacturing, and product development.
Sudhir Mehta (EKA): Accelerated growth and innovation in EV solutions.
Hiroshi Takeuchi (Mitsui): Exporting EKA's products to overseas markets.
#crore#markets#manufacturing#EV#innovation
5. “Unveiling the Truth: The Real Story Behind Biodegradable Sanitary Products”
Biodegradable sanitary products face challenges with misleading labeling and varying decomposition times.
Period panties offer a reusable, sustainable alternative to traditional pads and tampons.
The Indian market for sustainable menstrual products is growing annually by 21%.
Compostable products are preferable to oxo-biodegradable ones due to specific composting requirements.
Governments and NGOs promote sustainable menstrual hygiene awareness in India.
Future research aims to improve compostability and production efficiency for biodegradable sanitary pads.
#sustainable#war
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