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They lost everything in the WazirX heist. Now they pin their hopes on the country’s courts for justice
Ravi Narayan should have been settled in Aligarh by now, working his family’s farm and trading crypto on the side. Instead, he’s stuck in Delhi after a massive theft on WazirX wiped out his savings, leaving him separated from his family and the quiet life he’d planned.
Thirty-three-year-old Ravi had charted out his life plans. After resigning from his software job, he scraped together his savings and borrowed money from his father and relatives, planning to spend his days preparing for a career switch, while his crypto investments—all his savings—on WazirX compounded quietly in the background.
It was a calculated risk, or so he thought.
Ola Electric sales slump to three-year low; TVS retakes lead in November
Last month’s electric vehicle sales data reiterated Ola Electric’s year-long struggle to regain lost market share as the Bhavish Aggarwal-led company continued to see its sales plunge since January. In November, the firm only sold 7,567 units, capturing a mere 7.2% of the EV market share.
To put this number in context, the company sold 22,656 units in January, retaking its market lead position with a 25% share of total EVs sold during this period.
However, since then, the company has significantly lost momentum for a myriad of reasons, including rising customer service concerns, concerns around product quality, and rising competition from established automakers like TVS Motor and Bajaj Auto.
Peak XV’s winning streak rolls on as Meesho IPO adds to big gains from Pine Labs and Groww
Peak XV—the largest venture capital firm in the country—had a blockbuster year. Its early bets in fintech startup Groww and Pine Labs saw it realise a combined return worth Rs 2,361 crore, making it one of the most successful outcomes for a venture capital firm in the Indian market.
And its winning streak is far from over. With Meesho’s upcoming IPO, Peak XV is set for another strong exit.
The ecommerce marketplace has fixed its price band at Rs 105 to Rs 111. This means Peak XV, which invested in Meesho in 2018, stands to gain around Rs 193 crore at the higher end of the price band and Rs 182 crore at the lower end.
Other news
AIC T-Hub Foundation launches second Lab2Market cohort with 19 deep-tech startups
Hyderabad-based AIC T-Hub Foundation has launched the second cohort of its Lab2Market programme, a 16-week initiative aimed at helping researchers and innovators turn lab-built technologies into commercial ventures.
The programme follows the first cohort’s success, which saw 50+ market connects, over five academic partnerships and four provisional patents. The new cohort brings in 19 early-stage startups working across some of India’s most active innovation areas — including mobility, SaaS, HR tech, healthtech, sustainability, enterprise tech, edtech and agritech.
The selected startups include Meet Connecy, TradeLayout, David AI, Spleen AI, Entheory AI, Cardio Pulmo AI, Inferno Energy, GPU Tech, ARK, Mehndi Bot, ZuppiBuy, WakokloN, Aptivision Technologies, ArtLegal, AG View 360, AuroFyn, Quelo, Vidyu and Dashrobe.
Lab2Market offers structured mentoring, go-to-market support, IP advisory and investor access, helping researchers validate ideas and move towards commercialisation. This year’s cohort spans a wide slate of deep-tech solutions — from AI-driven clinical decision-support tools for low-connectivity healthcare settings, to a patent-pending context layer that cuts AI model token requirements by up to 90%, to food-processing innovations that convert indigenous crops into long-shelf-life healthy snacks.
Together, the startups highlight the expanding pipeline of research-led innovation in the country and the growing push to bridge science, technology and entrepreneurship at the early stages.
Exponent Energy opens first sales point in Bengaluru
Bengaluru-based energy-tech startup Exponent Energy has opened its first Exponent Sales Point (ESP) in Laggere, creating a dedicated retail and service hub for its fast-charging electric three-wheelers.
The outlet will showcase the full range of Exponent-enabled vehicles and act as a one-stop centre where auto drivers can learn about the company’s 15-minute rapid-charging technology, take test drives and understand retrofit options. The store will also function as a service point for converting existing CNG and LPG passenger three-wheelers into EVs — with drivers able to drop off their vehicles and pick up the completed retrofits within 24 hours.
The company plans to add more than 15 such touchpoints across Bengaluru by the end of FY26, as it pushes to expand its footprint and accelerate EV adoption among the city’s auto-rickshaw fleet.
(The article will be updated throughout the day with latest developments and news)
