| | OCTOBER 20238SCOUTBEE, SAP PARTNERS TO ASSIST FIRMS EXPLORE STRATEGIC SUPPLIERSIn order to make it quicker and simpler for customers to locate and invite new suppliers to sourcing events that suit their strategic goals, Scoutbee, a leading AI-powered supplier intelligence and discovery platform, announced an expanded relationship with SAP. In the first quarter of 2024, Scoutbee intends to make Scoutbee Discovery available alongside the SAP Ariba Sourcing solution."As an avid user of SAP Ariba Sourcing and a Scoutbee customer, we're excited about the seamless integration between these solutions," said Michael DeWitt, Vice President of Indirect Spend Management, Walmart International. "Scoutbee enables us to more rapidly find exactly what we are looking for in a supplier. Whether we need to identify suppliers in a specific region, category, or are interested in sustainability, diversity, risk reduction, or cost competitiveness, we can identify the best suppliers more quickly."Scoutbee's AI-driven supplier discovery capabilities help companies find new suppliers that advance strategic business imperatives, such as risk management, nearshoring strategies, environmental, social, and governance (ESG) and diversity, equity, and inclusion (DE&I) initiatives, and more. With the integration, companies running a sourcing event in SAP Ariba Sourcing will be able to instantly pull in new suppliers from Scoutbee that meet key sustainability, diversity, cost, and risk criteria and add those suppliers directly into the sourcing event as per business wire."Companies are increasingly leaning on eSourcing tools as they actively look for ways to redistribute their supply base to reduce risk, save money, and advance multiple strategic priorities. The integration of Scoutbee's supplier discovery capabilities with SAP Ariba Sourcing will make finding the best new suppliers to invite to bid effortless for customers," said Gregor Stühler, Scoutbee's CEO and Co-founder. "SAP is an industry leader, and we're thrilled to partner with them to help more companies increase their competitiveness and resilience through supply base innovation". Tarun Mehta, cofounder and CEO of Bengaluru-based Ather Energy, announced the company's entry into Nepal on social networking site X. "So far, our scooters have zipped across Indian roads wearing green number plates." Soon, they'll be wearing new ones when they race across Nepal's hills and valleys," Mehta wrote. Tiger Global-backed EV startup Ather has received Rs 900 crore in capital from two-wheeler manufacturer Hero MotoCorp and Singaporean sovereign wealth fund GIC, both of which are already owners in the company. According to statistics from market intelligence platform Tracxn, Hero is also Ather's top stakeholder, with a 34.2% holding prior to the recent investment.Nikhil Kamath, cofounder of online stock brokerage Zerodha, is set to join Ather Energy's cap table with a fresh investment in the firm. While it isn't clear how much Kamath will invest in Ather that the transaction would be made through a secondary share sale, and that the deal is nearing completion, as per economic times.As per Tracxn, Ather was last valued at $739 million following a $50 million fundraise last October. According to media sources, the company planned to seek another $250 million this year at a $1.3 billion valuation, but delayed the plan amid a larger tech financing slowdown and a sales drop following the removal of the government subsidies for electric vehicles in June.According to Vahan, the government's automotive registration portal, Ather sold 6,835 units in August, while its younger rival Ola Electric remains the country's largest seller of electric scooters, accounting for 17,389 of the more than 59,000 electric two-wheelers sold in August. INFOCUSEV MAKER ATHER ENERGY VENTURES INTO NEPAL
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