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PTI | New Delhi | Updated: 11-10-2019 22:10 IST | Created: 11-10-2019 22:10 IST
Business briefs

Ola Electric Mobility on Friday said it has appointed auto sector veteran Jaime Ardila as a member on its board of directors. Ardila has spent 30 years at General Motors, where he held multiple leadership roles across the globe. In his most recent role, he was the executive vice-president and president (south America operations), according to a statement.

He currently serves as chairman of the board of Goldman Sachs BDC Inc, a member on the board of Accenture PLC, Nexa Resources and is also the founder of Hawksbill Group, a diversified business and communications consulting firm, it added. Ola co-founder and CEO Bhavish Aggarwal said Ardila's deep industry expertise and global experience will be an invaluable addition to the company. * * * *

Smytten raises USD 1.5 mn in funding led by Roots Ventures * Smytten, an online consumer sampling platform in the premium lifestyle space, on Friday said it has closed an investment of USD 1.5 million (about Rs 10.6 crore) in its pre-series A round of funding from Roots Ventures.

Smytten was founded by ex-Google executive Swagata Sarangi and ex-Unilever executive Siddhartha Nangia. "The new investment will be used for scaling up new user acquisition, product innovation and building multiple touch points for brand discovery and sampling both, online and offline," a statement said. With close to two million users from high-earning audience segment today, Smytten hosts over 500 brand partners on its platform across lifestyle categories.

* * * * OneOneDay raises USD 1.3 mn

* OneOneDay, a Hong Kong-based company in the ad-tech industry, on Friday said it has raised USD 1.3 million (about Rs 9.2 crore) in a pre-series A round from Chinese investors. With this funding, OneOneDay aims to scale up its sales operations and sustain the ongoing enhancement of the platform, a statement said. The company anticipates that by the end of 2020, it will reach 10 million users on their app.

Till date, OneOneDay has raised USD 2.3 million from seed and pre-series A round of funding, and they are in talks to raise series A funding round soon. The current valuation of the company is USD 12.8 million. * * * *

Lendingkart appoints Mithun Sundar as CEO of NBFC arm Lendingkart Finance * Fintech company Lendingkart Technologies on Friday said it has appointed Mithun Sundar as the new CEO for Lendingkart Finance, its NBFC arm.

Sundar has worked with companies like PepsiCo, McKinsey and Hindustan Unilever, a statement said. "We are excited to have Mithun join the Lendingkart leadership team as the CEO of Lendingkart Finance... Mithun brings in extensive experience in working with scaling businesses with a proven track record, which we believe will play a pivotal role in driving the next phase of growth for Lendingkart," said Harshavardhan Lunia, co-founder and chief executive officer of Lendingkart. He joins Lendingkart Finance from Myntra.com, where he held the position of chief marketing and revenue officer.

* * * * ICAI organises summit on govt financial management

* The Institute of Chartered Accountants of India (ICAI) on Friday organised a summit on 'Transparency & Accountability on Government Financial Management' in the national capital. The summit, organised through the institute's committee on Public Finance and Accounting Standards for Local Bodies, was inaugurated by Minister of State for Rural Development Sadhvi Niranjan Jyoti, according to a release.

ICAI Vice-President Atul Kumar Gupta said there are many studies being conducted by the institute to augment revenue, based on accrual accounting. The summit concludes on Saturday.



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