Startups

Listen: Covid-19 spooks the stock markets; Surge pricing curbs on Ola, Uber; Kunal Shah and Amrish Rau’s fintech bets

The TechThisWeek podcast brings you news and insights, wrapped up in a weekly roundup of hand-picked developments from the startup and enterprise technology ecosystems in India.

In the podcast this week:

The Indian stock markets closed the week on an extremely volatile note. The markets plunged to a 12-year low when trading opened on Friday, largely on account of negative sentiments due to the ongoing global Covid-19 crisis. IT services stocks, in particular, suffered heavy losses with share prices of most firms falling by more than 10% this week.

The Maharashtra government has capped the surge pricing fares that app-based cab aggregators charge during high demand periods. As per the state government’s decision, shared mobility companies such as Ola and Uber cannot charge more than three times the base rate of black-and-yellow taxis on a per kilometre basis.

It was a relatively quiet week on dealstreet but two deals stood out -- FamCard and Karbon Card, which saw Cred founder Kunal Shah and Pine Labs CEO Amrish Rau team up as investors.

Finally, Infosys has written off yet another startup investment. This time it’s a $5.5 million bet on  Waterline from its Innovation Fund.

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