🚴2 EVs, 13,500 kms, 54 days: The story of BharatMala 🚴

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Daily Capsule | 2nd June 2022 Hello Readers, The grand challenge of riding across the country on electric motorcycles, with a targeted distance of over 13,500 kilometres, has now come to an end with new learnings and a greater appreciation for India’s entrepreneurial spirit.  The StartupNRev BharatMala, a joint initiative of seven collaborators—Orxa Energies, SpareIT, Pothole Raja, Charzer, BrigadeREAP, SpiceRoute Legal, and YourStory—decided to burn the rubber on two electric motorcycles.  On February 4, bike enthusiasts, John Kuruvilla and Gautam Khot, along with a dedicated support team, began their journey. Fifty-four days later, they have returned with a treasure trove of stories.  BharatMala was not just an initiative to showcase the prowess of electric vehicles (EVs). The aim was to encourage students of various educational institutions along the way to follow the path of entrepreneurship. "What amazed us is the energy in smaller towns. We engaged with over 6,000 students, who were delighted to meet us and the mentors from the EV ecosystem. Genuine ideas, genuine product stories, and genuine challenges is what we saw,” John says. Read more . Here are other highlights of today's Daily Capsule: Editor’s Pick: Inflection Point Ventures Startup Spotlight: Satthwa  News and updates and more… Editor’s Pick: Inflection Point Ventures Editor’s Pick Inflection Point Ventures Gurugram-based Inflection Point Ventures, which has backed the likes of BharatPe and MilkBasket, is planning to double its investments by September-end or the start of October 2022.   In 2021, the firm invested across 50-55 deals and said it would keep its numbers constant in 2022, expecting startup investments in India to cool down. Read more . Startup Spotlight From a bald patch to a successful haircare brand Founded in 2016 by Prashant Parikh, D2C (direct-to-consumer) personal care brand Satthwa sells hair oils and hair growth serums. The entrepreneur says he founded the startup in his garage and took his mother’s help to develop the proprietary oil solution using nine different oils made from raw materials like grapeseed, jojoba, amla, and almond oil. Read more . The CapTable As food delivery stagnates, Swiggy and Zomato race to mimic Meituan The two rivals are stepping up their diversification efforts to offset slowing growth in food delivery. From building core categories to opting for strategic investments, all combinations are on the table. The end goal is the same: owning intracity commerce. Continue Reading News & Updates The world's largest crypto exchange by volume Binance revealed its investment arm, Binance Labs, has closed a new $500 million investment fund supported by DST Global Partners, Breyer Capital, and others. Polygon, the Web3 startup that issues the Matic cryptocurrency, has changed its internal policy for approving investments and grants in India . According to reports, the company is following more stringent KYC rules to identify all recipients of funds. Aditya Birla Group has launched TMRW—its new entity focused on the direct-to-consumer (D2C) sector—announced earlier this year. It has appointed former Facebook and Bain & Company executive Prashanth Aluru as the CEO and Co-founder of TMRW. Read more Startup Funding: Deals of the day Startup Funding Deals of the day Startup Amount Round MoEngage $77 million Series E CueMath $57 million Undisclosed Slice $50 million Series C In Case You Missed It* *A roundup of interesting stories from global media organisations; YourStory has not verified this content and does not vouch for its accuracy Elon Musk has reportedly told Tesla employees to come back into their respective offices at least 40-hours a week or to leave the company. In two emails obtained by Electrek, Musk said that people must show up for at least 40 hours per week in a main Tesla office. “If you don’t show up, we will assume you have resigned,” he said in one of the emails. Beijing ordered state-owned policy banks to set up an 800 billion yuan ($120 billion) line of credit for infrastructure projects as it leans on construction to stimulate an economy battered by coronavirus lockdowns. Bloomberg Economics estimated China’s infrastructure spending came to 23 trillion yuan in 2021.  Some of India's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for Digital Commerce (ONDC), which the Indian government soft-launched in April, the sources told Reuters. Brand Spotlight Listen to Microsoft’s experts on how to implement GitHub Actions to build a container image and deploy it to Azure Kubernetes Service. The live, heavy demo-driven session will be conducted on June 2, 2022 from 3:00 PM to 4:00 PM, by Vivek Shridhar, Senior Cloud Advocate, Developer Relations, Cloud + AI Engineering at Microsoft. Register now! Before you go, stay inspired with... — Kiran Mazumdar Shaw, Executive Chairperson, Biocon “Every entrepreneur must have a strong sense of business purpose before getting into entrepreneurship. Don’t get into things just for the sake of it.” We want to hear from you. Tell us what you think of this newsletter and what else you’d like us to explore. You can reach us at editorial@yourstory.com. If you don’t already get this newsletter in your inbox, please sign up here . You can also read past issues of this newsletter here . Download the YourStory App Don't forget to follow us to get updates on the go

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