Unicommerce Expands Its Reach with Shipway Acquisition
In a strategic move to strengthen its position in the e-commerce logistics industry, Unicommerce eSolutions Limited has completed the acquisition of a majority stake in the courier aggregation platform Shipway Technology Private Limited. This marks a significant step for Unicommerce, a leading player in the logistics and supply chain tech…
After shaking up the e-commerce world with Flipkart, Binny Bansal is back with a bold new startup aimed at helping consumer brands expand across Asia. His latest venture, Opptra, promises to be a game-changer for businesses looking to scale and overcome the many challenges of entering new markets.
So, what exactly is Opptra and how does it plan to help brands navigate the complexities of…
Amazon India is preparing to launch its highly anticipated quick commerce service, codenamed Tez, which will focus on fast deliveries of groceries and daily essentials. The company plans to roll out the service by late December or early next year, marking Amazon’s first-ever entry into the quick commerce space globally.
This move comes at a time when quick commerce, the fast-growing segment of…
Locad Secures $9 Million in Pre-Series B Funding to Revolutionize Logistics
In an exciting move for the logistics tech world, Locad, a logistics startup founded by former Zalora and Grab executives, has successfully raised $9 million in pre-Series B funding. This new round of funding aims to ramp up Locad’s AI-driven logistics capabilities and accelerate its international expansion plans.
This…
Boosting Business for Kirana Stores and Small Enterprises
Udaan, a prominent online B2B platform in India, has successfully raised ₹300 crore in debt financing. This substantial funding comes from notable investors, including Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The infusion of capital aims to enhance Udaan’s operations and solidify its position as a…
Accel, the prominent global venture capital firm, is reportedly in advanced discussions to lead a funding round of $30 million to $40 million in Truemeds, an innovative Indian online pharmacy focused on making healthcare more accessible through affordable generic medications. According to multiple sources familiar with the negotiations, the proposed valuation for the six-year-old startup stands at…
Foxconn, the Taiwanese electronics giant, is considering a $1 billion investment to establish a smartphone display module assembly unit in Tamil Nadu, as reported by The Economic Times. This facility will be Foxconn’s first of its kind in India and aims to support Apple’s iPhone production.
The new assembly unit is set to enhance local sourcing capabilities, allowing manufacturers like…
InCore Semiconductors, incubated at IIT-Madras, aims to build a robust semiconductor ecosystem in India, starting with embedded processors for everyday devices. In May 2023, the venture secured $3 million in seed funding from Peak XV (formerly Sequoia Capital’s India and Southeast Asia unit) to advance its development of semiconductor processors based on the RISC-V open-source architecture.
The…
Flipkart has recently inaugurated two major Fulfillment Centers (FCs) in Uttar Pradesh, marking a significant expansion in its logistics and supply chain infrastructure. This strategic move is set to create over 3,600 direct and indirect employment opportunities, significantly contributing to the state’s economic growth.
The newly inaugurated facilities include a Fulfillment Center and sortation…
Cisco, the leading manufacturer of networking equipment, is set to announce another wave of layoffs as early as Wednesday, coinciding with its fourth-quarter earnings report. This latest round of job cuts follows a previous reduction in February, which saw 4,000 employees let go. The new layoffs could match or slightly exceed this number.
The decision comes as Cisco aims to refocus its business…
