In an official statement, the Mumbai-based startup said Mirzas investment will enable them to incorporate sustainable and clean care principles into their product offerings.
Fia Global, the winner of the Social Enterprise category in the 2023 ET Startup Awards, is venturing into lending, insurance and investments after offering basic account opening and payment services.
In an email to the companys top management, Agarwal said Oyo has published its annual accounts for FY23 and that it has achieved operational profitability in FY23, clocking an adjusted Ebitda of Rs 277 crore.
The funds will be allocated towards improving Raptees manufacturing facility, acquiring machinery, tooling for its to-be-launched motorcycle, and scaling up the team, a statement said.
In its report "Decentralised Finance and Digital Assets", Moodys questioned the reliability of using Aadhaar in welfare services. It said, “The system often results in service denials, and the reliability of biometric technologies, especially for manual labourers in hot, humid climates, is questionable.”