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Pakistani ecommerce logistics startup Rider looking to acquire BlueEx
Economic Times
·
1y ago
Medial
Pakistani ecommerce logistics startup, Rider, is planning to acquire BlueEx, the only listed Express Courier Logistics Company in Pakistan. The acquisition would make Rider the third-largest player in the ecommerce logistics space and allow them to reach their goal of delivering one million monthly orders for over 3,000 merchants across 700 delivery locations. This would be the first acquisition of a listed company by a startup in Pakistan. Rider, backed by YCombinator, has raised $5.4 million in funding to date.
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New-age companies seek growth areas as urban consumption slump grips
Economic Times
·
8m ago
Medial
New-age companies in sectors like beauty, wearables, logistics, ecommerce, and used-car sales are being affected by a slowdown in urban consumption. As a result, these companies are looking to diversify their business and explore new growth areas. Delhivery, a logistics firm, is looking to expand into quick-commerce, regional, and air logistics to counter the sluggish demand. Beauty brands like Mamaearth are also facing slower growth and are restructuring their strategies. The overall consumption slowdown is forcing companies to compete harder for consumer spending, particularly in discretionary categories.
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Shiprocket's back to its favourite accelerant: acquisitions
Livemint
·
1y ago
Medial
Shiprocket, an Indian logistics startup, is looking to accelerate its growth through acquisitions in various areas such as marketing and advertising tools, data platforms, and customer experience enhancements. The company, which gained unicorn status in 2022, had previously embarked on an acquisition spree following its Series E funding round in 2021. Shiprocket has acquired five companies to date and plans to acquire 9-10 more to consolidate its leadership in the logistics sector. The company aims to become net profitable in a few quarters and has seen significant revenue growth in recent years.
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Rozana Nets $22.5 Mn Funding
Inc42
·
1y ago
Medial
Indian rural commerce startup, Rozana, has secured $22.5 million in a funding round led by Bertelsmann India Investments. The startup operates an ecommerce platform and logistics network catering to the needs of rural communities in India. The funds raised will be used to expand the company's warehousing and logistics capabilities, as well as hire more talent and enhance its technology stack. Despite a contraction in startup funding for India's ecommerce market in 2023, Rozana aims to tap into the untapped potential of rural communities and aims to empower them with access to essential products.
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Scandron Receives DGCA Type Certification For Its Logistics Drone
Inc42
·
1y ago
Medial
Scandron, a logistics drone startup based in Bengaluru, India, has received the Directorate General of Civil Aviation's (DGCA) type certification for its logistics drone, CargoMax 500HE. With this certification, Scandron becomes the first company in India to achieve this recognition. The startup plans to introduce drone-based logistics solutions to the market, focusing on enhancing mid and last-mile delivery, streamlining ecommerce logistics, and facilitating critical medical deliveries to remote areas. Scandron has also formed a strategic partnership with logistics solution provider CriticaLog India to offer B2B and hub-to-hub drone deliveries across 160 Indian cities, using CriticaLog's logistics expertise.
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Meesho introduces platform fee, expands seller loans
The Arc Web
·
1y ago
Medial
Indian ecommerce platform, Meesho, is expanding its loan service for sellers as part of its strategy to diversify revenue sources beyond advertisements and logistics. The company's loan service, called Meesho Instant Cash, aims to address the challenges faced by small businesses in accessing formal credit. Meesho also introduced a 2% platform fee on its branded ecommerce vertical, Meesho Mall, giving the company an additional source of income. The platform, which operates on a low-cost ecommerce model without seller commissions, is looking to extract more value from its merchant base and is reportedly seeking $300-600 million in funding to support its expansion plans.
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Shiprocket eyes investment from Koch, Tribe amid a larger fundraise
Livemint
·
12m ago
Medial
Koch Investment Group is reportedly looking to acquire a minority stake in Indian logistics startup Shiprocket, in what would be Koch's first investment in the country. The deal, part of a larger funding round of $120 million, could value Shiprocket at $1.1-1.2 billion. Tribe Capital is also expected to participate in the investment. Shiprocket, which is backed by Zomato, has previously raised approximately $350 million and plans to expand through acquisitions in marketing, advertising tools, and customer experience enhancements. The company's losses widened in FY2022-23 despite revenue growth.
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Grapevine: Motherson, Xander, Alta Capital, Lenskart, Kazam, MoEngage in news
VCCircle
·
1m ago
Medial
Auto components maker Samvardhana Motherson is preparing to bid for Marelli Holdings. Alta Capital's logistics platform is reportedly leading the race for Xander Group's warehousing portfolio. Lenskart plans to acquire GeoIQ. Additionally, electric mobility startup Kazam has secured Series B funding.
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Lowering Logistics Cost Can Help Increase Ecommerce Penetration In India: Flipkart CEO
Inc42
·
1y ago
Medial
Flipkart CEO Kalyan Krishnamurthy believes that solving the cost structure of logistics is a major challenge for India's ecommerce sector. Lowering logistics costs could enhance ecommerce penetration, which currently stands at 7-8% of India's retail market. Krishnamurthy also credited the Indian government's focus on tax simplification and ease of doing business for the sector's growth. Despite ongoing losses, Flipkart is reportedly approaching profitability due to reduced cash burn.
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Odisha startup launches fully autonomous logistics drone service
Economic Times
·
9m ago
Medial
Bon V Aero, an Odisha-based startup, has launched Air Orca, a fully autonomous logistics drone service. The drone is designed to tackle logistical challenges in areas where traditional transportation methods are impractical. It can serve as a first responder during post-disaster scenarios by delivering relief supplies and offering critical support. Air Orca aims to address logistics needs across sectors such as healthcare, ecommerce, military logistics, and disaster management globally. The drone was developed and manufactured in India, and it has already set a world record by lifting a 30 kg payload at a challenging altitude of 19,024 feet.
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Tribe Capital’s new SPV set to put $75 million more in Shiprocket
Economic Times
·
1y ago
Medial
Silicon Valley-based venture capital firm, Tribe Capital, plans to invest $75 million in ecommerce logistics startup Shiprocket through a special purpose vehicle (SPV) in India. The SPV, called Tribe Capital India Management, will also buy and build companies in India. Shiprocket, already the largest shareholder in the startup, will use the funding to value the company at $1.2 billion. Tribe Capital India is also awaiting approval to launch an alternate investment fund (AIF), targeting investments in financial services, commerce, and logistics sectors over the next five years. Tribe Capital has previously invested in startups such as Khatabook and Blackbuck in India.
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