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Xpressbees acquires Trackon in all-cash deal to enter SME courier space
Startup News FYI
·
1y ago
Medial
Logistics unicorn Xpressbees has completed an all-cash acquisition of New Delhi-based courier firm Trackon, marking its entry into the SME courier sector. This strategic move aims to leverage Xpressbees' extensive network for nationwide expansion of Trackon's operations.
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Ontario Teachers venture arm invests $80 million in Xpressbees
Economic Times
·
1y ago
Medial
Ontario Teachers' Pension Plan's venture arm, Teachers’ Venture Growth (TVG), has invested $80 million in Pune-based e-commerce logistics company Xpressbees. The funding consists of both primary and secondary share acquisition, including an Esop buyback. Xpressbees plans to use the capital to scale its operations and expand its service offerings. The company recently acquired Trackon in an all-cash transaction and aims to address the growing needs of businesses and consumers in the logistics sector. Xpressbees competes with other major players like Delhivery and Ecom Express.
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XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X
Entrackr
·
3m ago
Medial
XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X E-commerce-focused logistics and supply chain firm XpressBees managed only modest double-digit growth in the fiscal year ending March 2024. However, the company turned EBITDA positive during the same period, despite an increase in overall expenses. XpressBees’ operating revenue increased by 12% to Rs 2,831 crore in FY24 from Rs 2,531 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). XpressBees provides B2B/B2C express delivery service, cross-border logistics, and warehousing services to e-commerce players including Snapdeal, Myntra, Meesho, Netmeds, and Bigbasket, among others. Revenue from logistics services remained the primary source of income for XpressBees, accounting for 97% of the company’s total revenue. However, the company’s warehousing business, though smaller in size, posted an impressive jump (60X) — soaring from Rs 0.77 crore in FY23 to Rs 48 crore in FY24, signaling a strong push toward expanding its non-courier biz. The remaining revenue came from warehouse services (Rs 48 crore) and support services (Rs 31 crore), both of which witnessed notable growth. The firm also added Rs 109 crore from non-operating activities, which pushed its overall income to Rs 2940 crore in FY24. On the expense side, courier charges remained XpressBees’ largest cost component, rising 12% to Rs 1,816 crore in FY24. Linehaul charges saw a modest 6% increase to Rs 494 crore, while employee benefit expenses rose by nearly 10% to Rs 355 crore in the said fiscal year. Depreciation costs spiked 49% to Rs 159 crore, and other operational expenses contributed an additional Rs 319 crore. Overall, XpressBees’ total expenditure increased 13% year-on-year, reaching Rs 3,143 crore in FY24 from Rs 2,785 crore in FY23. With expenses growing faster than revenue, XpressBees' net loss widened by 11%, rising to Rs 200 crore in FY24 from Rs 180 crore in FY23. However, the Pune-based firm achieved EBITDA positivity, reporting an EBITDA of Rs 5 crore for the same period. The company’s ROCE stood at -8.32%, while its EBITDA margin came in at a modest 0.17%. On a per-unit basis, XpressBees spent Rs 1.11 to earn every rupee in revenue during FY24. XpressBees recorded current assets worth Rs 1867 crore in FY24, including Rs 1331 crore in cash and bank balances. Recently, Xpressbees acquired courier firm Trackon and named Uday R. Sharma as CBO for B2B, 3PL, and cross-border operations. According to startup data intelligence platform TheKredible, XpressBees has raised a total of $625 million in funding to date, having Norwest Venture Partners and Alibaba Group as its lead investors. The company’s Co-Founder & CEO Amitava Saha owns 3.15% of the company.
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XpressBees in early stage talks to acquire courier platform Trackon
Entrackr
·
2y ago
Medial
Logistics firm XpressBees is in early-stage talks to acquire logistics and supply chain firm Trackon, sources aware of the development told Entrackr. This move comes after the Pune-based unicorn has had two back-to-back secondary rounds recently.
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Large opportunity in courier aggregation going forward: Unicommerce’s Makhija
Livemint
·
8m ago
Medial
e-commerce SaaS platform Unicommerce has acquired a 42.76% stake in courier aggregation platform Shipway for INR 68.4 crore ($9.3m) in cash. It will acquire the remaining stake within a year through a stock swap or merger. The entire deal is expected to be worth INR 200 crore ($27.2m), according to an unnamed source. Shipway offers shipping software solutions to over 3,000 e-commerce and DTC brands and provides an automated marketing platform called ConvertWay. The acquisition will allow Unicommerce to enter a customer engagement journey, including marketing automation and chatbots for sales and support.
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Adobe acquires Indian generative AI startup Rephrase.ai
Economic Times
·
1y ago
Medial
Adobe has acquired Bengaluru-based startup Rephrase.ai, which specializes in AI-powered video creation. The acquisition will enable Adobe to integrate Rephrase's generative AI video capabilities into its Creative Cloud platform, offering enhanced video content tools to its customers. This marks Adobe's first entry into the generative AI and video-tooling space and the first acquisition of an Indian startup by the company. The deal includes a complete cash exit for Rephrase's investors and the majority of the team joining Adobe. The exact deal size has not been disclosed.
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Online seafood firm Captain Fresh acquires US-based distributor
Economic Times
·
1y ago
Medial
Captain Fresh, an online seafood firm, has acquired CenSea Inc, a US-based frozen fish and seafood importer and distributor, in a cash-and-stock deal. The acquisition will strengthen Captain Fresh's presence in the US market and provide access to CenSea's extensive network and relationships with suppliers in India and Southeast Asia. This move is part of Captain Fresh's strategy to expand beyond exporting seafood and enter the distribution market in the US and Europe. The company recently raised $25 million in funding and is actively exploring more acquisition opportunities in Europe.
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Coworking space provider BHIVE acquires Praemenio for tech boost
Inc42
·
1y ago
Medial
Bengaluru-based coworking space provider BHIVE has acquihired product-engineering firm Praemenio to enhance its support for the growing coworking and fintech businesses. The deal, which involved a cash and equity structure, will see BHIVE absorb a 10-member team along with the cofounders of Praemenio. This move aims to streamline the management of BHIVE's coworking spaces and strengthen its fintech arm, improving financial management, lead generation, and decision-making processes. The terms of the deal were not disclosed.
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Dailyhunt parent acquires Magzter, grows revenue from ads to subscriptions
Economic Times
·
1y ago
Medial
VerSe Innovation, the parent company of Dailyhunt and Josh, has acquired Magzter, a digital magazine store based in New York. The deal allows Dailyhunt to enter the premium content market and diversify its revenue model. Dailyhunt has also launched Dailyhunt Premium, a subscription-based service offering access to premium international content and an ad-free experience. The acquisition is a cash-and-stock transaction, and Magzter's founders will be retained as the company operates as a subsidiary of VerSe. With over 1.1 million paying subscribers in India and a user base of 87 million globally, Magzter brings valuable resources to VerSe.
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Incuspaze acquires Pune's Trios to expand co-working biz
Economic Times
·
1m ago
Medial
Incuspaze, a managed office space provider, has acquired Pune-based co-working firm Trios in a cash and stock deal to expand its operations. Established in 2016, Incuspaze operates in over 50 locations across India and aims to meet the growing demand for flexible workspaces. The acquisition is expected to boost Incuspaze's revenue by 10-15% and was described as a strategic fit by the company's CEO, with plans to integrate and expand services without altering pricing.
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DeHaat acquires farm advisory platform AgriCentral
Economic Times
·
6m ago
Medial
DeHaat, an agritech startup, has acquired farm advisory platform AgriCentral from Olam Agri in an all-cash deal. AgriCentral, serving over 10 million farmers, enhances DeHaat's digital services and farmer reach. The acquisition marks DeHaat's seventh, following purchases like Vezamart and Helicrofter. DeHaat, backed by Temasek, operates in 12 Indian states, serving around 3 million farmers. The company anticipates continued growth and aims for profitability in Q4, driven by its expanding business scale and value-added services.
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