Scooting away from a pain point

… backed by a range of marquee investors including Kalaari Capital, Matrix Partners, Stellaris Venture Partners and Pawan Munjal of Hero Motocorp.

The daily commute in our cities is usually a painful experience, especially if one does not own a vehicle. The public transportation system is often not fully functional and ride-hailing platforms go for a toss in inclement weather, which leaves this space open for disruption. Nearly two years ago, when Anand Ayyadurai, an MBA from IIM Ahmedabad and his friends, Padmanabhan Balakrishnan and Sanchit Mittal wanted to start something on their own and were looking at pain points to resolve, they began to look at solutions to solve this issue. It was these discussions that led to the launch of the dockless scooter sharing platform Vogo in 2016.

In the past three years, the platform has clocked more than 7 million rides, has more than 15,000 scooters, 600 hubs and claims to have more than 65% repeat users. It is operational in three cities and plans to expand to more cities soon.

Vogo had received seed funding by the Murugappa Group, Formula One racer Karan Chandhok, AV Thomas Group, Thiagaraja Group and others in 2017. It has also received an infusion of about $100 million as part of a strategic partnership with ride-sharing platform Ola and is backed by a range of marquee investors including Kalaari Capital, Matrix Partners, Stellaris Venture Partners and Pawan Munjal of Hero Motocorp.

Anand says, “We felt that there is a huge demand for solutions to make the commute simple and safe. We decided to begin a scooter rental service, since it is safe, easy to ride and can be used for multiple use cases, from getting vegetables from the grocer down the road to travelling more than 20 kilometres as part of the daily commute.”

What do they do?

Vogo offers on-demand IoT-enabled scooters. Customers can pick up and drop it at any Vogo hub within the city. Anand explains, “ It is very simple. All you have to do as a customer is to walk to a hub located across the city, scan the QR code of the scooter that unlocks the vehicle at the click of a button.” The user then can travel to the location and drop off the scooter at a nearby hub. Charges are applicable on the kilometres travelled and the time taken, much like hailing an auto-rickshaw or a cab.

Anand says that users do not merely use the scooters for reaching major commute points. “They use it for a lot of things, from getting to nearby locations quickly, to clubbing it with public transport options. We have regulars who use our scooters to travel more than 30 kilometres on a daily basis. It is used for commutes ranging from 20 minutes to more than 2 hours.”

The company is presently in three cities across the country — Bengaluru, Mysuru and Hyderabad, with 70% of their business in Bengaluru. Within the city, the focus is presently on the IT corridor in areas such as Marathalli, BTM Layout, Koramangala and HSR Layout.

Micromobility on rise

Over the past couple of years, micromobility has seen a lot of interest from customers and investors. Ayyadurai says, “Our cities are very congested and face plenty of traffic snarls. Since most commute options in Indian cities are in the micro-mobility space, i.e. under 10 kilometres, scooter sharing is an affordable alternative.

Customers are always on the lookout for innovation in this space that helps resolve a major pain point.

Revenue and more

On the revenue side, the platform has grown tremendously in the past year and a half, Ayyadurai says. “ We have an annual run rate of about Rs 100 crores presently and plan to touch the Rs 1,000 crore mark soon. We also plan to expand to more cities and expand our presence in existing markets.”

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Gemini hires former Morgan Stanley exec as its Chief Compliance Officer

Gemini, the New York-based cryptocurrency exchange, has announced the hiring of Noah Perlman as its Chief Compliance Officer. Perlman was …

Gemini, the New York-based cryptocurrency exchange, has announced the hiring of Noah Perlman as its Chief Compliance Officer—Perlman will join the exchange in October. Perlman is the Global Head of Financial Crimes at Morgan Stanley, leading a 350+ team. At Morgan Stanley, Perlman was responsible for the governance, oversight, and executing the bank’s anti-money laundering, sanctions, and anti-corruption programs. Prior to joining Morgan Stanley, Perlman was also the Division Counsel for the U.S. Drug Enforcement Administration.

“Gemini’s philosophy of asking for permission, not forgiveness, is a first in the crypto industry,” said Tyler Winklevoss, CEO of Gemini. “Compliance is one of Gemini’s four pillars along with Product, Licensing, and Security. Noah has deep compliance expertise and we are excited for him to continue to build on Gemini’s compliance-first tradition.”

Gemini has recently ramped up hiring for its senior leadership team. In August, the firm hired a new Chief Security Officer.

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Noah Perlman Joins Gemini as Chief Compliance Officer

4, 2019 /PRNewswire/ — Gemini Trust Company, LLC (Gemini), a cryptocurrency exchange and custodian, announced today that Noah Perlman has …

Compliance veteran to lead the company’s Compliance Program

NEW YORK, Sept. 4, 2019 /PRNewswire/ — Gemini Trust Company, LLC (Gemini), a cryptocurrency exchange and custodian, announced today that Noah Perlman has joined as its new Chief Compliance Officer. Perlman will lead Gemini’s Compliance Program and be responsible for its Anti-Money Laundering (AML), Market Surveillance, and other similar programs. Perlman will begin with Gemini in October.

Gemini Logo (PRNewsfoto/Gemini)Gemini Logo (PRNewsfoto/Gemini)
Gemini Logo (PRNewsfoto/Gemini)

Prior to joining Gemini, Perlman served as the Global Head of Financial Crimes at Morgan Stanley, a global financial services firm that provides investment banking, securities, and investment management services. At Morgan Stanley, Perlman led the more than 350-person Financial Crimes Group and had firm-wide, legal and compliance responsibility for the governance, oversight, and execution of the firm’s Anti-Money Laundering (AML), Sanctions, Anti-Boycott, Anti-Corruption, and Government and Political Activities programs.

“Gemini’s philosophy of asking for permission, not forgiveness, is a first in the crypto industry,” said Tyler Winklevoss, CEO of Gemini. “Compliance is one of Gemini’s four pillars along with Product, Licensing, and Security. Noah has deep compliance expertise and we are excited for him to continue to build on Gemini’s compliance-first tradition.”

Perlman joins Gemini during a period of tremendous growth. Over the past 18 months, Gemini has grown to more than 200 employees and built out its senior leadership team, which includes Rob Cornishas Chief Technology Officer, Jeanine Hightower-Sellitto as Managing Director of Operations, Sydney Schaub as General Counsel, and David Damato as Chief Security Officer. Additionally, Gemini recently launched in Australia and opened an office in Chicagoto meet growing demand.

For more information on Gemini, visit ourwebsite https://gemini.com/.

About Gemini Trust Company, LLC:

Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to build a bridge to the future of money.

Contact

Carolyn Vadino

Head of Communications, Gemini

press@gemini.com

CisionCision
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Ashwiny Iyer Tiwari, Nitesh Tiwari join hands for a film on Infosys co-founder NR Narayana Murthy

The story idea and concept was developed by writer Sanjay Tripathy. The film will portray the inspiring journey of Narayana Murthy and his wife and …
NR Narayana Murthy, Narayana Murthy

Infosys co-founder NR Narayana Murthy (File photo)&nbsp | &nbspPhoto Credit:&nbspPTI

Mumbai: Filmmaker couple Ashwiny Iyer Tiwari and Nitesh Tiwari have joined hands for a film based on the lives of Infosys co-founder NR Narayana Murthy and his wife Sudha Murthy.

The film will also be produced by Mahaveer Jain, a statement issued by the makers said.

Ashwini, whose credits include films such as Nil Battey Sannata and Bareilly Ki Barfi, will direct the new project after her Panga.

The story idea and concept was developed by writer Sanjay Tripathy. The film will chronicle the inspiring journey of Murthys and their contribution to the nation.

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Infosys Murthy couple’s story on celluloid now; Ashwini Tiwari to direct

MUMBAI: Filmmaker couple Ashwiny Iyer Tiwari and Nitesh Tiwari have joined hands for a film based on the lives of Infosys co-founder N R Narayana …
MUMBAI: Filmmaker couple Ashwiny Iyer Tiwari and Nitesh Tiwari have joined hands for a film based on the lives of Infosys co-founder N R Narayana Murthy and his wife Sudha Murty.

The film will also be produced by Mahaveer Jain, a statement issued by the makers said.

Ashwini, whose credits include films such as “Nil Battey Sannata” and “Bareilly Ki Barfi”, will direct the new project after her “Panga”.

The story idea and concept was developed by writer Sanjay Tripathy. The film will chronicle the inspiring journey of Murthys and their contribution to the nation.

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