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Uber ties up with Avride for food deliveries, robotaxi rides

Economic TimesEconomic Times · 9m ago
Uber ties up with Avride for food deliveries, robotaxi rides
Medial

- Uber is partnering with autonomous technology startup Avride for food deliveries and robotaxi services. - This partnership expands Uber's network of self-driving technology partners, which includes Waymo, Cruise, and WeRide. - Avride's sidewalk robots will be used for Uber Eats deliveries in Austin, Dallas, and Jersey City, with plans to expand to more cities. - Avride and Uber plan to launch robotaxi rides in Dallas next year, giving customers the option to choose between a delivery robot or an autonomous vehicle. - Avride, based in Austin, was founded in 2017 and has already made 200,000 deliveries across five countries. - The partnership aims to expand the fleet of Avride robots within Uber Eats and launch a robotaxi service in the future.

Funding and acquisitions in Indian startup this week [26 - 31 Aug]

EntrackrEntrackr · 10m ago
Funding and acquisitions in Indian startup this week [26 - 31 Aug]
Medial

During the week, 31 Indian startups raised around $490.32 million in funding. These deals count 7 growth-stage deals and 19 early-stage deals while 5 startups kept their transaction details undisclosed. During the previous week, 21 early and growth-stage startups cumulatively raised $144.46 million in funding. [Growth-stage deals] Among the growth-stage deals, 7 startups raised $443.8 million in funding this week. Quick commerce brand Zepto spearheaded with a $340 million Series F round. Specialty coffee retailer Blue Tokai Coffee raised $35 million followed by lending firm Yubi, agri-inputs platform AGRIM, post-sales service firm Servify, beauty and personal care D2C firm Pilgrim, and Robotics startup Miko with $30 million, $17.3 million, $10 million, $9 million, and $2.5 million in funding, respectively. Swiggy also raised undisclosed funding this week from Amitabh Bachchan’s Family Office. [Early-stage deals] Further, 19 early-stage startups secured funding worth $46.52 million during the week. Full stack marketplace for resale home HouseEazy led the list followed by conversation intelligence platform Convin, energy storage solutions startup Clean Electric, fintech firm Finarkein Analytics, and edtech startup Kreedo among others. As many as 4 startups that did not disclose the funding amount raised are; Metaman, Better Nutrition (Greenday), BiUP Technologies, and OneMoney. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 8 deals followed by Mumbai, Delhi-NCR, Pune, Hyderabad, Chennai, Dehradun, Jodhpur, and Lucknow. Segment-wise, E-commerce and Fintech startups are in the top spot with 6 deals each. SaaS, Edtech, Foodtech, Healthtech, Proptech, and Agritech startups followed this list among others. [Series-wise deals] During the week, Seed funding deals are on top with 11 deals followed by 6 Series A, 4 pre-Series A, 3 Series C, 2 Series B, 2 pre-Seed, and 1 Series F deal. [Week-on-week funding trend] On a weekly basis, startup funding tripled and went up 239.42% to $490.32 million as compared to around $144.46 million raised during the previous week. The average funding in the last eight weeks stands at around $254.80 million with 26 deals per week. [Fund launches] Two new funds launched this week to support startups in India. Velocity, a cash flow-based financing platform, has introduced a Rs 400 crore fund to assist D2C and e-commerce brands during the upcoming festive season sales. Meanwhile, Whiteboard Capital, a sector-agnostic early-stage venture capital firm, has successfully closed its second fund at Rs 300 crore. [Key hirings] Sumer Juneja, formerly with Softbank, has joined OYO as a non-executive director. Swiggy Instamart onboarded former Flipkart executive Amitesh Jha as CEO, Medikabazaar appointed Dinesh Lodha as the Group CEO, Sukoon Health onboarded Dr. Vipul Rastogi as Clinical Regional Head, and 3i Infotech hired Raj Ahuja as CEO. Evera and Zalon appointed Saurabh Kumar and Abhiishekk Rakj Pandey respectively as their Independent Director and Co-founder and CEO. [Mergers and Acquisitions] Several significant acquisitions have taken place this week in the Indian tech industry. VerSe Innovation, the parent company of Dailyhunt and Josh, has acquired Valueleaf Group, a digital marketing firm. In the SaaS space, Browserstack has acquired Bird Eats Bug, a bug detection and reporting platform, for $20 million. ANSR, a business consulting company, has acquired hrEntries, an HCM platform, to strengthen its global team management capabilities. Yudiz Solutions, a listed blockchain and IT development company has acquired a majority stake in ABCM App Private Limited, a consultancy and technology solutions company. In the FMCG sector, GRM Overseas has acquired a 44% stake in Rage Coffee, a D2C food and beverage brand. [Shutdown] Two significant shutdowns have occurred this week in the Indian tech industry. My Tirth India, a spiritual tech startup, has announced its closure due to a funding crisis. This is surprising given the growing popularity of the spiritual tech sector. Meanwhile, Bharti Airtel has decided to discontinue its music streaming app, Wynk Music, although it will retain the employees involved. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches and partnerships] OPEN launches Bharat Billpay for business Zoho forays into payment space with the launch of a payment gateway BharatPe ventures into the consumer payments space CarDekho Group partners with SaaS platform BiUP Technologies [Potential Deals] Eruditus to raise $150 Mn at $2.3 Bn valuation [Financial results this week] Rebel Foods posts Rs 1,420 Cr revenue in FY24; losses down by 42% Square Yards posts Rs 261 Cr revenue in Q1 FY25; projects Rs 1,500 Cr in FY25 CaratLane crosses Rs 3,000 Cr revenue in FY24; remains profitable [News flash this week] Customer conversation platform Exotel suffers data breach BigBasket to completely pivot to quick commerce Amazon India to enter quick commerce D2C meat delivery startup Zappfresh files DRHP Ola Electric’s products to hit ONDC next week Infra.Market lined up 8 investment banks for its $700 Mn IPO: Report Moglix initiates next-day delivery to join the rapid delivery bandwagon [Conclusion] The weekly funding jumped over 3X to $490.32 million this week. Meanwhile, two startup-focused funds launched this week namely Velocity and Whiteboard Capital. Ola Electric’s co-founder, Bhavish Aggarwal, has announced that all of the company’s electric scooters, including the S1 X series, S1 Pro, and S1 Air, will be available on the Open Network for Digital Commerce (ONDC) starting next week. This move aims to expand Ola Electric’s market reach and make its products more accessible to consumers across India by leveraging ONDC’s infrastructure. Aggarwal has been a strong advocate for ONDC, comparing it to the revolutionary impact of UPI on digital payments. D2C meat delivery startup Zappfresh has filed its draft red herring prospectus (DRHP) for an IPO on the BSE SME platform. The IPO will consist solely of a fresh issue of 59.06 lakh equity shares and will not include any offer for sale. Zappfresh intends to utilize the proceeds from the IPO to fund potential acquisitions, marketing and capital expenditure, working capital requirements, and general corporate purposes. Several major e-commerce players are entering the quick delivery space in India to cater to the growing demand for faster delivery of goods, especially among small and medium-sized businesses. Moglix, a B2B platform, has launched a next-day delivery service for industrial goods, expanding its reach to 12 cities and aiming to expand further to 40 cities in the coming months. Amazon, Flipkart, and Tata Digital-owned BigBasket are also making significant moves in this market. Amazon plans to enter the quick commerce space in early 2025, while Flipkart and BigBasket have already launched their own quick delivery services.

Datatribe builds data driven tech products for organizations across sectors

EntrackrEntrackr · 1y ago
Datatribe builds data driven tech products for organizations across sectors
Medial

Bengaluru-based Datatribe builds affordable and SaaS products for organizations that help them harness their own data. Its first two products are myLearn (an organizational learning platform) and Parcel (a product cycle management platform), and the company plans to release a performance management product later this fiscal year. Each of these products are Tier – iI ERP products, which founder and CEO Nikhil Chandra says are easy to deploy and provide real time tracking and analytics. We spoke to Chandra to learn more about Datatribe, what its business model is, and the roadmap ahead. Here are the edited excerpts: How did you come up with the idea of Datatribe? Datatribe came about based on our experience with taking our first two products (myLearn and Parsel) to market – for product details please see www.datatribe.co.in. While working with clients, we realized that a core problem for organizations across sectors and sizes was the inability to harness and utilize their down data that was being generated on a daily basis. This could be people-based data (like learning) or product data (like production, storage, delivery) or performance-based data (like productivity) and creates a strong need for data focused technology products. We also believe strongly that this wave of data focused technology has begun the world over and will fundamentally change the manner in which business is done. Please help understand how you generate revenues. (Explain business model). Since we are a B2B focused organisation, our revenue model is based on subscription charges from organisations. This could be a one time subscription or a recurring subscription amount depending on the product. For e.g. in myLearn we charge clients on a per enrollment/subscription basis for roll out of existing content on the platform and provide clear proving options on the platform itself. What are the key challenges in the industry that have not been addressed yet? And how do you plan to address this? The key challenge with respect to data is the lack of an easy system to access data and make it available to the right people within an organisation. This challenge can largely be addressed only by technology and current systems to do so are expensive and cumbersome to deploy (essentially large-scale ERPs). We are addressing this by providing the SME and enterprise market with affordable, SAAS based data driven products for multiple parts of their business. How are you using technology to solve challenges in the industry? Aside from being SaaS-based and easy-to-deploy, one of the key items for our products will be the enhancement provided by AI/ML tools. For e.g. in the Parsel product we have integrated an AI/ML fulfillment tool that ensures not only putaway and pick list generation but also efficient use of manpower in warehouses. Also, in myLearn we have a unique Dashboard that allows the organization to directly deploy and manage all their learning requirements while providing real time data. The Dashboard also allows an organization to track learning across SBUs, designations and teams to ensure that actionable data intelligence is available with them. How has your startup performed since inception? We have just taken both our products out of proof of concept, and this is the first year for Datatribe. During proof of concept, myLearn created learning outcomes for over 20,000 employees at multiple organizations including Hindalco Limited and the Tata group. Similarly, Parsel has between 400-500k monthly SKUs on the platform. What are your short-term and long-term goals in terms of product and business expansion and diversification? Our short-term goal is to build a pipeline of recurring revenue across our product portfolio. This has started well in this FY and we aim to be at a profitable MRR and over 4 million monthly SKUs on Parsel by H2, FY25. Our longer-term goal is to help SMEs and Enterprises become more productive and competitive using their own data along with scaling a profitable global business. Who are your nearest direct and indirect competitors? Which are the larger global players in the industry? Each of our products have specific competitors locally as well as globally. For e g. The primary competitors for myLearn are Coursera and udemy which provide organizational learning alternatives in a slightly different fashion.

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