Urban Company to raise ₹2,500 cr to scale after IPO
Business
Big moves in the startup world: Urban Company is set to raise ₹2,500 crore to fuel its next phase of growth after last year's IPO, aiming for more flexibility and scale.
The company had ₹1,901 crore in cash as of September 30 and its businesses, excluding the InstaHelp segment, generated ₹119 crore in adjusted EBITDA over the past nine months, so this funding should help it expand faster.
Ather Energy gets nod for insurance
Meanwhile, Ather Energy (known for its electric scooters) is now stepping into the insurance game. Its new arm just got the green light to offer life, health, and general insurance.
With strong sales growth and 14.71% market share in India's electric two-wheeler market in September, Ather is clearly looking beyond vehicles to boost its business.