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Electric Scooter Startup Grin Merges with Ride for Expansion

27Oct By Gauri SinghNo Comments

BUSINESS

Electric Scooter Startup Grin Merges with Ride for Expansion

Mexico-based electric scooter startup Grin has reportedly merged with Brazil-based Ride to further carry forward the company’s expansion across Latin America. As of now, the Y Combinator-backed Grin only operates in Mexico City, but it has plans to expand to other cities throughout Latin America. This recent merger will enable Grin to do this as early as next week as Ride already operates in São Paulo. The development has come shortly after Grin raised a $45 million Series A round. Following the merger, Ride will operate under the Grin brand in Brazil and the Ride team will be in charge of all of Grin’s operations in Brazil. The ride is currently the only shared electric scooter operator in all of Brazil, but that will soon change when Yellow deploys its scooters. “We definitely wan...

Uber, Ola’s Indian Legal Woes Put SoftBank’s Funding in Firing Line

Indian taxi company Meru Cabs has stepped up its legal challenge against local competitor Ola and U.S. rival Uber, alleging the firms are abusing their market position, and believes that planned investments in both by Japan’s SoftBank underscore its view. The head of Meru Cabs said the company has filed four new complaints with the country’s antitrust watchdog, claiming that Uber and Ola are abusing their dominance in four different cities by burning vast sums of investor funds to distort the market. “Even before there is any merger or alliance between the two through global investors, there is already a unified monopoly,” Meru’s CEO Nilesh Sangoi said. Though Meru lost an earlier antitrust suit versus Ola, lawyers and industry sources said that moves by SoftBank - already a major inv...

Jugnoo Launches Auto-Rickshaw Pooling Feature on Its Domain

India's leaidng Auto-rickshaw aggregator Jugnoo has announced the launch of its latest auto-rickshaw pooling feature, ' Jugnoo Pool' observing the World Environment Day. The feature gives the customers an option to share their trip with those traveling in the same direction. This is a humble initiative undertaken by the company, in a bid to counter the increasing carbon footprint and traffic situation in various parts of the country. The concept is not only environment friendly, but also comes across as a cost effective solution for customers, making the Jugnoo auto-rickshaw ride a little expensive but much more convenient than a public bus ride. In addition to this, the feature is lucrative for the auto drivers as well. Elaborating on the concept further, Founder and CEO Jugn...