We bring to you the latest edition of movers and shakers of the week in the Indian startup ecosystem.
This week, Bengaluru-headquartered cab-hailing unicorn Ola has been in the limelight as reports surfaced claimed Ola would be laying off around 20% of its workforce, i.e. around 1000 employees to cut costs. However, talking to Inc42, an Ola spokesperson refuted the report saying that only 5-7% of Ola’s 4,500 employee base has been affected as part of the layoffs.
Further, Indian regional language social network ShareChat has announced “ShareChat Ignite Coding Challenge” for offering paid internship for four to six months to the final year engineering and data science students.
Here’s a look at the other important movers and shakers of the week
MyGate Strengthens Leadership Team
Bengaluru-based security management app for gated communities, MyGate, has appointed Diwesh Sahai, Praveen Boda, and Mansur Nazimuddin as head of technology, head of finance and compliance, and head of products respectively.
Sahai joins the company with vast experience in high-scale technology environments such as Amazon and Expedia. He would be responsible for driving the engineering efforts and will be working with cofounder and chief technology officer Shreyans Daga. In his last role, he was Head of Payments Engineering at Reliance Jio.
Boda will be responsible for all finance and legal aspects at MyGate. He brings with him over 18 years of corporate finance experience with successful stints at blue-chip companies, including NVIDIA Graphics, Microsoft & Qualcomm. He has also held key positions at Reliance Jio in the past.
Nazimuddin will drive the product and design charter. Prior to joining MyGate, Mansur was spearheading product management for the EasyDay Club product vertical at Tathastu, the consumer and digital Labs of Future Group, and has also held senior product management roles at Commonfloor.com and Hubzu. Over the next few months, a key focus area for Diwesh and Mansur will be the expansion of the engineering and product teams.
Since its launch in 2016, MyGate has made apartment living more secure for over 5000 gated communities across Tier 1 and Tier 2 cities. The company has been building technology to enhance security and convenience for residents living in gated premises.
Lido Learning Appoints Nishu Goyal As CTO
Mumbai-based edtech startup Lido Learning has appointed Nishu Goyal as their chief technology officer (CTO), who will be based out of their Mumbai office. Nishu brings over 12 years of experience to Lido Learning. At the CTO position, Goyal will be responsible for evolving Lido’s technology strategy and driving product innovation.
Goyal joins Lido after serving as CTO for online healthcare start-up PharmEasy. He has also previously held the senior vice president position at global ecommerce retailer Fab.com. Goyal has completed his education from the prestigious IIT Madras with an integrated dual degree with both B.Tech and M.Tech.
Founded in April 2019 by Sahil Sheth, Lido Learning provides year-long online tutorials in math and science for students of class 5 to 9. The edtech startup also offers an immersive experience with services like animated videos, interactive games, a personalised platform for homework, tests, challenges, and live classes to make education more interesting. Lido claims to have over 51-200 employees currently.
Transasia Bio-medicals Strengthens Executive Leadership
Mumbai-based in-vitro diagnostic (IVD) startup Transasia Bio-Medicals has appointed Ravi Kaushik and Bhupendra Chaudhary as chief executive officer (CEO) and president of sales and marketing, respectively.
Prior to this role, Kaushik was the group marketing director Asia-Pacific and country business director at Medtronic. He brings over 25 years of experience in strategic sales, marketing plus product & business model innovation across medical devices, pharmaceutical, healthcare, among others.
Notably, Chaudhary was the president of medical devices and consumables at Entero Healthcare Solutions, prior to his new role at Bio-medicals. He brings over 2 decades of leadership experience across companies like Dr Store Healthcare Services, SRS Meditech and Widex India.
Founded in 1979, Transasia Bio-Medicals Ltd, is one of India’s leading in-vitro diagnostic company, which offers products and solutions in biochemistry, haematology, coagulation, among others.
Hemant Taware Joins Innoviti As Chief Business Officer
Bengaluru-based digital payments provider Innoviti has appointed former Future Group and Croma senior executive, Hemant Taware, to its senior management team as the chief business officer to look out for sales and marketing of the company.
Taware is a retail industry veteran with over 25 years of diverse experience in direct sales, marketing, and operations across sectors like FMCG, apparel, and telecom, among others. Taware till recently was the strategic planning and business development head at Future Group.
Founded in 2002, Innoviti deploys point of sale (PoS) terminals and processes card payments for retailers. The company claims to have turned its core enterprise business of processing card payments for organised retailers cash positive. It has a network of more than 11,000 retail outlets spread over 850 cities in India.
Stay tuned for the next edition of Movers and Shakers of the week!