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

News on Medial

Senco Gold in advanced talks to buy Melorra as it takes a shine to e-commerce

LivemintLivemint · 9m ago
Senco Gold in advanced talks to buy Melorra as it takes a shine to e-commerce
Medial

- Kolkata-based jeweller Senco Gold is looking to acquire omnichannel jewellery retailer Melorra to expand its e-commerce presence. - The deal is expected to be valued at ₹40-50 crore, but the final valuation is still being negotiated. - Senco is one of several potential buyers Melorra has been in talks with, as the company is in need of capital. - Due diligence is currently underway and the deal will be confirmed upon satisfactory completion of the process. - Senco has been focusing on boosting its online sales and derived about ₹30 crore of its revenue from e-commerce. - Melorra, founded in 2015, has raised about $88 million in equity funding but has been facing financial difficulties, with rising losses and cash outflows.

Related News

Mint Primer: Can Blinkit & co take on Amazon in electronics?

LivemintLivemint · 9m ago
Mint Primer: Can Blinkit & co take on Amazon in electronics?
Medial

- Quick commerce (Q-comm) firms are using expensive gadgets as a marketing strategy to indirectly drive sales and increase profitability. - Expensive electronics allow quick commerce ventures to diversify into higher-value items, which is crucial for their future growth and sustainability. - Quick commerce is following the footsteps of e-commerce giants like Amazon and Flipkart, who already sell high-value items such as luxury cars and gold bars. - This tactic has the potential to challenge the dominance of Amazon and Flipkart in the e-commerce industry, as quick commerce can offer quicker deliveries through a widely distributed network of small warehouses. - However, quick commerce's success relies on selling fast-moving items, and they may continue to focus on gadgets that make headlines in the short term. - In the long run, the merging of conventional e-commerce and quick commerce may impact the viability of this business model.

Exclusive: AceVector to file DRHP for Rs 500 Cr IPO

EntrackrEntrackr · 10d ago
Exclusive: AceVector to file DRHP for Rs 500 Cr IPO
Medial

Exclusive: AceVector to file DRHP for Rs 500 Cr IPO E-commerce ecosystem firm AceVector Limited is in advanced stages of filing draft red herring prospectus (DRHP) to raise Rs 500 crore through an initial public offering, sources aware of the matter told Entrackr. Gurugram-based AceVector comprises e-commerce marketplace Snapdeal, e-commerce enablement SaaS platform Unicommerce, and consumer-brands platform Stellaro Brands. “The proposed issue will be majority primary capital and CLSA and IIFL are likely to be the bankers for the proposed IPO,” said one of the sources requesting anonymity as talks are yet to be public. According to startup data intelligence platform TheKredible, Softbank, Kunal Bahl, Rohit Bansal, and Nexus Venture Partners are the largest shareholders of AceVector Limited. Started in 2010, Snapdeal targets the value e-commerce segment, with over 80% of orders from non-metro buyers. Most of its merchandise is priced below Rs 600, focusing on fashion, home, and personal care. Industry reports expect smaller towns to drive 65% of India’s e-shopping by 2030. AceVector’s listed arm Unicommerce eSolutions provides tech solutions across order and inventory management, omnichannel retail, courier automation, and AI-led marketing. Its 2024 IPO was oversubscribed 168 times. Post listing, it acquired shipping aggregator Shipway in a stock-and-cash deal to broaden its offerings. Stellaro Brands, another subsidiary, builds value and lifestyle brands. Its flagship label, Rangita, offers affordable everyday ethnic wear for women. Sold online and through retail outlets in southern India, Rangita aims to expand its omnichannel presence across key markets nationwide.

Ampivo AI acquires 51% stake in Commerce Forever

EntrackrEntrackr · 3m ago
Ampivo AI acquires 51% stake in Commerce Forever
Medial

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.

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