Ola Launches In-Trip Insurance For Riders At Re 1 And Other Startup News You Need To Know


Listed below are some of the major news in the startup sector, have a look to stay updated:

Ola launches in-trip insurance at just Re 1

Homegrown ride-sharing app Ola has launched an in-trip insurance programme for its Indian riders starting at just Re 1. Similar to the insurance cover provided by flight operators, Ola’s ‘Chalo Befikar’ is optional and can be bought within the app. The programme is intended to protect its customers from an accident during the travel, missed flights, loss of valuable belongings and baggage and even in the case of theft in the house when a rider is an outstation in an Ola cab.

Chalo Befikar is applicable to all category cabs, auto, kaali-peeli, and e-rickshaw. Ola has partnered with Acko General Insurance Ltd and ICICI Lombard across 110 cities, wherein a user booking an Ola ride can opt for in-trip insurance cover while booking the ride at a premium of Re 1 for all intra-city travel, Rs 10 for Ola Rentals and Rs 15 for Ola Outstation.

FreeCharge founder in talks to raise $30 million for a new enterprise

Mobile wallet FreeCharge’s founder Kunal Shah is raising, arguably, the largest series-A financing round for an Indian startup. Sources close to the development claim that Shah has plans of raising a hefty sum of $30 million from venture capital fund Sequoia Capital, along with other investors, as he plans to kick off his new venture this year. According to sources, Sequoia will be joined by Russian fund Ru-Net, and a financial-technology focused fund Ribbit Capital.

FreeCharge was acquired by e-tailer Snapdeal for $400 million in 2015 and was later sold to Axis Bank for $60 million.

T-Hub unveils cohort-based programmes for startups

Tech start-up incubator T-Hub on 4 April announced that it is to introduce Lab32, a cohort-based incubation and revenue-driven programme that will make an impact over 100 startups in the first year.

“The programme will help us solve two main challenges in the start-up ecosystem. First is the level of market understanding startups bring in and the second the lack of market appetite analysis for their offerings,” CEO Jay Krishnan said in a statement.

T-Hub aims at promoting technology-based start-ups, primarily focused on HealthTech, FinTech, Smart Cities, Transportation, and Sustainability.

Laundry and home cleaning startup, UClean raises Rs 4 Cr in pre-Series A funding

Faridabad-based UClean raised the pre-Series A funding from the US-based angel investor, Anubhav Chopra. The laundry startup intends to enter the dry-cleaning segment with ‘UClean Select’ and is also launching the UClean mobile app for end-user convenience with the new funds that it has raised.

UClean was launched in October 2016. It is on a mission to build India’s first organised chain of laundry and home cleaning stores, focussing on the DIY (Do It Yourself) culture. UClean also enables the time-crunched customers to avail pick-n- drop service from the comfort of their home or office.

Today’s Take Away:

It is indeed important to have the right set of ideas and the game plan before starting off anything new. But, what we sometimes forget and hence fail in our endeavours is that mere ideas cannot move mountains. One has to get her acts together and leave no stone unturned to see their rightful execution. We must always remember what Guy Kawasaki, Founder of AllTop had to say,

“Ideas are easy. Implementation is hard.”