🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

African B2B e-commerce giant Wasoko marked down to $260M after VC halves stake

TechCrunch · 1y ago

African B2B e-commerce giant Wasoko marked down to $260M after VC halves stake

Swedish investment firm VNV Global has reduced the value of its stake in African B2B e-commerce startup Wasoko by 48%, according to its annual report. The fair value of Wasoko was set at around $260 million as of December 2023, based on VNV's 4.2% stake. This marks the second markdown for Wasoko, which had previously been valued at $501 million in Q4 2022. VNV Global plans to hold onto its remaining stake in Wasoko following its planned merger with Egyptian counterpart MaxAB. Wasoko operates as one of Africa's largest B2B grocery marketplaces, connecting retailers and suppliers.

Related News

Walmart Goes All In on Africa

Livemint

Livemint · 1y ago

Walmart Goes All In on Africa

Walmart's renewed investment in African retail group Massmart comes after several disappointing international market forays, such as selling most of its Japanese stake in 2020 for a $2.1 billion loss. However, analysts believe the African market could be a strong bet, citing success in developing markets with growing middle classes like Mexico, Latin America, India, and China. Walmart aims to boost Massmart's e-commerce performance and overcome challenges like high mobile data costs, last-mile delivery constraints, and a competitive South African market. Walmart has increased its stake in Massmart and taken greater control of the company's operations.

Schaeffler India acquires aftersales B2B e-commerce platform Koovers

IndianStartupNews

IndianStartupNews · 1y ago

Schaeffler India acquires aftersales B2B e-commerce platform Koovers

Schaeffler India recently said it will be acquiring a 100% stake in Bengaluru-based KRSV Innovative Auto Solution, offering repair solutions to Indian aftermarket workshops via its B2B e-commerce platform Koovers.

Adenia Partners ropes in three LPs to acquire South Africa’s The Courier Guy

VCCircle

VCCircle · 1y ago

Adenia Partners ropes in three LPs to acquire South Africa’s The Courier Guy

Mauritius-based private equity firm Adenia Partners has acquired South African e-commerce logistics company The Courier Guy, in collaboration with three co-investors. This move marks Adenia's second transaction from its latest investment vehicle. The firm, which targets mid-sized businesses across Africa, has purchased a 100% stake in the Cape Town-based courier services provider. The Courier Guy offers a range of logistics services for e-commerce businesses in South Africa and is known for its efficient delivery network and customer service.

Ampivo AI acquires 51% stake in Commerce Forever

Entrackr

Entrackr · 3m ago

Ampivo AI acquires 51% stake in Commerce Forever

Ampivo AI acquires 51% stake in Commerce Forever Ampivo AI, a multi-modal AI solutions provider, has acquired a majority stake (51%) in Commerce Forever Solutions. This move aims to grow and strengthen Ampivo AI’s role in the e-commerce space by using its AI technology for real-world B2B applications. Commerce Forever closed the financial year 2024-25 with net sales of Rs. 115 crore. According to Ampivo AI, it will be deploying advanced predictive AI technology in Commerce Forever to enable long-term cost optimization. This move allows it to step into an untapped segment of B2B commerce with the help of Commerce Forever’s established operational infrastructure in the Indian Market. While the leadership role and day-to-day activities remain the same, the focus of the integration will be embedding AI across key business processes, with clearly defined KPIs centred around enhancing cost efficiency. As a part of this stock-based acquisition, Commerce Forever will retain its existing brand identity while integrating into the larger Ampivo Ecosystem. Ampivo AI states that this acquisition opens up new opportunities for it to showcase how its technology can bring about operational efficiency and cost savings across the B2B e-commerce value chain. Commerce Forever provides a background in back-end e-commerce operations, and Ampivo AI provides the technology to automate, forecast, and optimize those operations. The two businesses view this collaboration as a platform for scalable innovation within the e-commerce space. Ampivo is a multi-modal AI solutions provider specializing in conversational AI and predictive insights. The company enables B2B clients to scale efficiently by streamlining and optimizing business processes through intelligent automation. It caters to clients in the healthcare and e-commerce sectors and is now expanding its footprint into the finance industry, leveraging its expertise to drive innovation and efficiency across new verticals.

Adenia Capital likely to strike control deal in South Africa

VCCircle

VCCircle · 1y ago

Adenia Capital likely to strike control deal in South Africa

Mauritius-based private equity firm Adenia Capital is expected to make a controlling investment in a South African e-commerce logistics company. This will be the second investment from Adenia's $400 million Adenia Capital Fund V, which focuses on businesses across Africa. Adenia Capital has previously invested in over 30 African companies.

Prosus to boost ecommerce profit to $400 million for 2025 year

Economic Times

Economic Times · 9m ago

Prosus to boost ecommerce profit to $400 million for 2025 year

Prosus NV, a South African-Dutch tech group, aims to achieve $400 million in adjusted earnings before interest and tax (EBIT) from its e-commerce operations for the fiscal year ending in March. CEO Fabricio Bloisi stated that the group had improved its e-commerce adjusted EBIT by over $400 million in fiscal year 2024, and they plan to maintain this pace. In the first half of this year, e-commerce revenue growth exceeded that of the entire previous year, emphasizing the significance of the core e-commerce business in generating profitability and free cash flow for the group.

Myntra gets $54M from Flipkart; celebrates 17th birthday

IndianStartupNews

IndianStartupNews · 1y ago

Myntra gets $54M from Flipkart; celebrates 17th birthday

Indian fashion e-commerce giant Myntra has received a $54 million investment from parent company Flipkart. This funding comes as Myntra faces fierce competition from competitors like Ajio and Tata Cliq. Despite the challenges, Myntra has reported a 25% increase in operating revenue for the year ended March 31, 2023. The company has also been expanding its portfolio of international brands and holds a 55% market share in the fashion e-commerce segment. However, transaction volumes on Myntra's app have slowed down, indicating a challenging market.

Peak XV, Trifecta Capital backed fintech startup Klub halves workforce

Livemint

Livemint · 8m ago

Peak XV, Trifecta Capital backed fintech startup Klub halves workforce

Bengaluru-based financing startup Klub has laid off 60-70 employees and paused its commerce operations due to funding challenges. The company has been trying to raise capital and has reduced its employee count from over 100 to about 45. Klub offers flexible funding to businesses and started its cross-border commerce division a year ago. However, it is believed that the company is scaling down its commerce business. Klub's CEO stated that the company is in discussions with investors and aims to make a formal announcement after completing the funding round.

ETtech Exclusive | Amazon set to roll out its quick commerce service next year: sources

Economic Times

Economic Times · 11m ago

ETtech Exclusive | Amazon set to roll out its quick commerce service next year: sources

Amazon is reportedly planning to launch its quick commerce service in India in the first quarter of next year. The e-commerce giant has assigned a senior executive to develop the quick commerce strategy, recognizing the importance of this growing segment. Talks are also said to be ongoing for Amazon's potential stake acquisition in food delivery company Swiggy. The company aims to offer 20-30 minute deliveries, catching up with rivals who have already entered the quick commerce market. Estimates suggest India's quick commerce market could be worth $6 billion by 2025.

Bachatt, phab secure seed funding; Ampivo AI acquires e-commerce firm

VCCircle

VCCircle · 3m ago

Bachatt, phab secure seed funding; Ampivo AI acquires e-commerce firm

Fintech startup Bachatt and snacking brand phab have secured seed funding, raising $4 million and $2 million, respectively, from various investors. Bachatt will utilize the funds to launch its daily savings app, targeting self-employed individuals with financial services. Meanwhile, phab plans to expand its team and market presence with the investment. Additionally, Ampivo AI acquired a 51% stake in Commerce Forever Solutions, marking its strategic entry into the B2B e-commerce sector with predictive AI technologies.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.