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This week on Indian Startup News, Ola Electric announces it's new bikes, Swiggy has signed an EV partnership with Taiwanese EV company Gogoro, CBIC has taken a look at pending GST liabilities of gambling game companies.

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00:00 Ola Electric announces it's new bikes
03:13 Swiggy has signed an EV partnership with Taiwanese EV company Gogoro
3:42 CBIC has taken a look at pending GST liabilities of gambling game companies
6:34 Funding News
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Ola Electric announces it's new bikes:

1. Diamondhead. This is Ola Electric’s new electric motorcycle.
2. It’s one of four that they’re planning to sell in the future.
3. Diamondhead, Cruiser, Roadster, Adventure.

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Swiggy has signed an EV partnership with Taiwanese EV company Gogoro:

1. Gogoro is known for their heavy focus on battery swapping.
2. Towards the end of 2022 they actually entered the Indian market through a partnership with Zypp Electric.
3. Now they’re expanding the scope of their presence in India with this Swiggy partnership, which will enable Swiggy to achieve their goal of doing 8 lakh kilometres of deliveries every day purely with EVs.

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CBIC has taken a look at pending GST liabilities of gambling game companies :

1. It looks like there’s more than ₹50,000 crore that have been owed by Indian gaming companies.
2. Directorate General of GST Intelligence (DGGI) is now sending out notices to all of the companies owing money, because India’s gaming industry has only paid around 5,000 crore rupees in GST since 2017, which means about 45,000 crore rupees are still pending.
3, 21,000 crore rupees is from ONE SINGLE COMPANY: Gameskraft.

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Funding news:

1. This is probably going to go down in history as the worst week of Indian startup funding in FY24.
2. By our count, 3.95 million dollars were raised this week, that number may go up.
3. the leader this week was Contiinex raising 2 million dollars in their pre-series A, they’re a B2B AI speech recognition startup that provides businesses with a speech-to-text platform.
4. then there’s Vegapay raising 1.1 million dollars in their pre-seed, they’re sort of like a B2B fintech SaaS platform, providing a tech platform for banks and NBFCs.
5. then there’s Teleport, a traveltech startup that makes getting a tourist visa easy and straightforward, they raised half a million dollars in their pre-seed round.
6. Then we have Plus, a Jewellery Savings App, they raised 350 thousand dollars in their seed round.
7. And BizPay is a fintech startup and they haven’t disclosed how much they raised.

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