Ola raises Rs 112 Cr, OYO FY18 revenue jumps 245%

Daily Capsule | 6th Feb Hello That music has the ability to transcend boundaries of language and culture is agreed up by all. But little did we realise that its structure itself could be flexible. Meet Tim Linhart, who is redefining the appeal and reach of music with his icy instruments. Yes, you read it right. Instead of brandishing his skills on traditional wooden or modern electric instruments, Tim has chosen the less trodden path, carving spectacular musical instruments out of ice. Violin, mandolin, cello, xylophone, and even a timpani drum set – you name it, he has built, nay, carved it. And on rare occasions that these unconventional instruments give up, it’s nothing less than an implosion of icy symphony. Magical and musical! Cheers, Team YourStory Stories you shouldn't miss Bengaluru-based ride hailing platform [Ola raised Rs 112 crore as a part of its larger $2 billion fund raise,]( according to filings with the Registrar of Companies. Moving ahead, Ola - the second highest valued startup in India with a valuation of $6 billion - will use the funds to build the reach of electric vehicles, expand and grow Foodpanda, and enhance focus on international markets. Best of both worlds! This seems to be the driving philosophy for edtech startup Vedantu, which has been maximising efforts at personalising education while offering tailor-made online content to students. One may even call this just the right alternative to the offline classes. In tune with this, [the startup has even come out with an artificial intelligence-based technology platform, which makes the entire learning and teaching process engaging, effective, and result oriented.]( In its recent filings with the Registrar of Companies, [OYO reported a three-fold rise in FY18 revenue. From Rs 120 crore in FY17, OYO marked a whopping 245 percent rise in FY18 revenue to Rs 415 crore.]( also showed only a marginal rise in loss from Rs 355 crore in FY17 to Rs 360 crore in FY18. As Founder and CEO Ritesh Agarwal says, the team will continue to explore newer businesses. [Active Pharma Ingredients maker Solara Active Pharma is set to raise an investment of Rs 200 crore]( (approximately $30 million) from private equity firm TPG Growth. Solara plans to deploy the proceeds to support its expansion plans, and the transaction is expected to close in early 2019. As per media reports, Ankur Thadani, Vice-President of TPG Growth, will join the Solara board of directors as part of the investment. [Elon Musk-led Tesla recently announced the acquisition of battery tech company Maxwell Technologies](. Valued at a whopping $218 million, the purchase will not only mean a boost to the battery performance of Tesla’s electric vehicles, but also a push to Tesla’s mission of “accelerating the advent of sustainable transport and energy”. It could very well mean a defining edge for Musk’s company over its current competitors in the market, including Audi e-tron SUV, Kia e-Niro, and Hyundai Kona. At the ongoing TiEcon Mumbai[, former Flipkart boss Binny Bansal laid out an ambitious dream for the Indian startup ecosystem.]( was speaking to Ranu Vohra, Co-founder of Avendus Capital, charting his ecommerce journey during the event. As the conversation progressed, Binny went on to add that India will have more than a 100 unicorns over the next five years. [Chennai-based Samunnati Financial Intermediation and Services has raised Rs 33 crore debt from Symbiotics on Tuesday by issuing Non-Convertible Debentures (NCDs).]( this, Samunnati becomes the first early-stage agri Non-Banking Financial Company (NBFC) to raise five offshore debt investments within seven months. Launched in 2014, the company offers working capital loans to Community Based Organisations (CBO) and receivable finance to Agri-SMEs. For startups, businesses and social enterprises who want to adopt, deploy and sustain high-impact AI solutions that have meaningful on-ground impact, Govt of Maharashtra’s AI Innovation Challenge 2019 is just the thing. The Challenge invites AI-based solutions for social problems across Healthcare, Agriculture, Education, Smart Mobility and Transport, Smart Cities and Infrastructure, Water Management and Conservation, Accessibility and allied domains. [Participants stand to win a POC opportunity with the government, a cash prize of Rs 5 lakh and a collaboration opportunity with Wadhwani AI. Last date for applying is February 15, 2019.]( With organisations moving towards more dynamic infrastructure, the need of the hour is more dynamic tools that are efficient, adaptable and cost-effective, with a significant amount of versatility. Hashistack tools offer organisations ease of installation and better management of their infrastructure, enabling a faster, scalable, self-healing and fault-tolerant infrastructure setup. Learn more at a ThoughtWorks workshop at the Future of Work conference in Bangalore on Feb 9. [Register here.]( Arth- Culture Fest, an odyssey into our heritage ­– will feature over 100 speakers, more than 25 performances, and a special children’s section. Among the prominent names from India who will be speaking at the festival are Union Minister Smriti Irani, Raveena Tandon, Bibek Debroy, Ashwin Sanghi, Amish Tripathi, Sonal Mansingh, Makarand Paranjpe, Mohandas Pai, Arnab Goswami, Pavan K Varma, Gaur Gopal Das, Subhash Chandra, Ricky Kej, Sanjeev Sanyal, Syed Salman Chisty, Governor Tathagata Roy, Vivek Agnihotri, Swapan Dasgupta and others. Arth - A Cultural Fest will be held in Delhi from February 8-10 at the IGNCA. To be a part of the festival, [register for free here](. And [click here to read more.]( -- [Click Here]( to unsubscribe from this newsletter.