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Logistics Platform Shadowfax Raises $60 Million from Flipkart & Others

9Dec By NitishNo Comments

FUNDING

Logistics Platform Shadowfax Raises $60 Million from Flipkart & Others

Bengaluru, Dec 9, 2019: Flipkart, India's leading eCommerce platform now owned by US-based Walmart has led a $60 million Series D investment round in logistics platform Shadowfax. The investment come as a part of their strategy to expand hyperlocal delivery capabilities. Eight Roads Ventures, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Naver Fund and World Bank backed IFC investment group also participate in this round. Flipkart already partnered with Shadowfax to fulfil its logistics requirements across various categories in its e-commerce business. "At Flipkart, we are focused on redefining customer experience, and hyperlocal is a key element to enable this transformation," said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart. "We have seen strong syner...

Grofers Convert 200 stores into its branded outlets

1Jul By AnkitaNo Comments

News

Grofers Convert 200 stores into its branded outlets

NEW DELHI: Online grocery platform Grofers is working on converting about 200 brick-and-mortar stores into its own branded outlets over the next few months as it looks to expand its business and push its private label of products. The SoftBank-backed company has been working on the business model for the past few months and has already converted about 100 such 'kirana' outlets. "We have converted several grocery stores into our own branded offline stores, around 100 kirana stores in Delhi-NCR have been a part of this effort that started somewhere in November last year. Our target is to have 200 such stores in the coming few months," Grofers Vice-President and Head (Offline Business) Yeshu Bansal told Pixr8 News. Grofers is also keen on expanding this network to southern markets su...

Indian News Aggregator App Dailyhunt acquires LocalPlay

20Jun By AdityaNo Comments

ACQUISITION

Indian News Aggregator App Dailyhunt acquires LocalPlay

India's leading News discovery app Dailyhunt announced the acquisition of hyperlocal content platform LocalPlay for an undisclosed sum. Bengaluru-based Dailyhunt said, the acquisition underscores its aggressive strategy of attracting new users, residing in tier I, III and IV Indian cities and towns, who are always hungry to stay updated on all the latest hyperlocal happenings. Hyperlocal content is consumed by people that are located within a well-defined area, generally on the scale of a street, neighbourhood, community or city. "We saw the need of hyperlocal content is still largely untapped despite the presence of a host of traditional and new age content platforms in India," Dailyhunt Founder Virendra Gupta said. "The latest acquisition of LocalPlay is a part of our strateg...

Grofers Raises 400 Crore from Softbank & Others

16Mar By NitishNo Comments

FUNDING

Grofers Raises 400 Crore from Softbank & Others

Gurgaon based online hyperlocal market startup Grofers raises 400 crore funding from Japanese conglomerate SoftBank Group, Tiger Global, and Apoletto Asia. The Grofers has raised so far $226.5 million funding. However the early investor in Grofers, Sequoia Capital will not participate in this round. Pixr8 news was the first platform which discloses about this deal earlier. Using Series E round funding, the company will continue to invest in building private labels and supply chain improvements. A significant amount of investment will go towards building infrastructure and technology and efficient supply chain management to achieve deeper penetration in existing Grofers cities. "This fresh round by our existing investors is a vote of confidence and trust in the turnaround at ...

23Feb By NitishNo Comments

FUNDING

Grofers Looking to Raise $65 Million Fresh Funding But….

Bengaluru- Guragon based online grocery start-up Grofers is looking to raise $65 Million fresh funding from leading investors like Softbank & Tiger global. But the funding round will devalued 40% of Grofers valuation as per the report published by LiveMint. However the early investor in Grofers, Sequoia Capital will not participate in this round. The online grocery platform looking for much needed funding to operate their services. The leading competitor in the space bigbasket has already raised $300 million from Alibaba. Also the big daddy in Indian e-commerce space Flipkart & Amazon aggressively expanding their footprints into the Hyper-local space. As of 2016, the company has raised about Rs. 235.5 million funding from investors including SoftBank and Sequoia Capital. I...

Trifecta Capital Provides 45 Crores of Venture Debt to Bigbasket

1Apr By AdityaNo Comments

FUNDING

Trifecta Capital Provides 45 Crores of Venture Debt to Bigbasket

Trifecta Capital today announced that it has provided Rs. 45 crores of venture debt to SuperMarket Grocery Supplies Pvt. Ltd. that owns and operates the online food and grocery portal bigbasket.com. The funds will be used to meet the capex requirements of the company, including setting up new warehouses, strengthening the cold chain and setting up facilities for reprocessing of fruits and vegetables. "We have a clearly identified use case for debt. We are present in 25 cities and continue to optimise our supply chain. A significant part of our business is fresh fruits and vegetables, the bulk of which is sourced directly from farms. It is crucial that we maintain the quality right upto the last mile. We are in the last leg of a pilot which will ensure that all fruits and vegetables are ...

Grofers and Sodexo Partner to Delight Customers

15Mar By NitishNo Comments

BUSINESS

Grofers and Sodexo Partner to Delight Customers

Grofers, the on-demand e-commerce mobile and web application, is now enabling payment via meal vouchers by partnering with Sodexo. Grofers customers will now be able to pay for their groceries, fruits, vegetables and bakery items through Sodexo meal vouchers, in addition to the multiple payment options that presently exist on the app and website. In the first phase of this partnership, Sodexo vouchers can be used across all the 12 leading cities where Grofers super store is available. These cities are Delhi, Gurgaon, Noida, Mumbai, Bangalore, Ahmedabad, Kolkata, Pune, Chennai, Lucknow, Jaipur and Hyderabad. Already a highly convenient way to buy groceries, Grofers believes that this partnership would help the e-grocer grow further. Albinder Dhindsa, Co-founder at Grofers, said, "Sode...

Jugnoo the Auto-Rickshaw Aggregator Announced its Entry Into Taxi Aggregation Business

13Feb By NitishNo Comments

News

Jugnoo the Auto-Rickshaw Aggregator Announced its Entry Into Taxi Aggregation Business

Founded in late 2014 by a bunch of IITans,Jugnoo, the auto-rickshaw aggregator, announced its entry into the taxi aggregation business on Sunday to take on other Taxi aggregators like Ola and Uber. Apart from Taxi aggregator, Jugnoo also entered the market as an hyperlocal businesses food and grocery delivery service. As per the company, they are awaiting the right moment to enter into taxi aggregation business for some time. Launched as a pilot in Gurugram, Jugnoo intends to soon expand into other cities. "Jugnoo’s strategy to diversify its offerings and enter into the business vertical comes at a time when drivers are looking for an alternative to resolve their earnings and incentive issues," the company said in a press release. Beginning its operations in November 2014, Jugnoo ...

26Dec By NitishNo Comments

FUNDING

Hyperlocal Logistics Startup ShadowFax Raises 68 Crore Funding

Shadowfax, one of India’s largest express delivery platform has raised $10 million (Rs 68 crore) in Series B funding led by existing investor Eight Roads Ventures, an investment arm of Fidelity International Ltd. The investment will use to build its network, consolidate its market position and stabilise performance in existing cities, Eight Roads said in a statement. The company provides logistics support for intra city movement across multiple segments such as F&B, grocery, and e-tailing in 15 cities. It has recently launched low cost express delivery in an additional 10 cities. The latest expansion takes its total pin code coverage to more than 1500 adding cities like Ahmedabad, Indore, Faridabad, Kolkata, Chandigarh, Vadodra, Vishakhapatnam, Nagpur, and Lucknow. The startup will ...

Paytm Introduces Nearby, a Seamless Way to Find Your Nearest Paytm Merchant

11Nov By PriyankaNo Comments

News

Paytm Introduces Nearby, a Seamless Way to Find Your Nearest Paytm Merchant

As part of its ongoing mission of helping India go cashless, Paytm, India’s largest mobile payments and commerce platform, today introduced the ‘Nearby’ feature on its platform. This will enable Paytm customers to get information about their nearest Paytm merchant. Paytm ‘Nearby’ will carry a directory of 800,000 of offline merchants and partners across India. In the first phase, this list is 200,000+ & will continue to grow everyday. Customers on their Paytm app or web can now browse through a list of shops & locations near them that offer services like accepting adding cash to e-wallet & upgrading accounts by doing KYC. This not only provides convenience to customers but also provides visibility to thousands of small and medium merchants by connecting them to millions of ...

Bigbasket.com Comes to Aid of Crisis-Hit Farmers in Karnataka

27Aug By PriyankaNo Comments

News

Bigbasket.com Comes to Aid of Crisis-Hit Farmers in Karnataka

bigbasket.com, India's largest online supermarket has taken a lead by voluntarily setting a subsistence price of tomatoes for farmers hit by crisis due to the sudden crash of tomatoes in Karnataka. With a glut of tomatoes in the Bangalore market owing to a bumper harvest in the growing regions of Kolar, Malur and Chikbalalpur, prices in the wholesale markets have crashed to as low as Rs 1/- per kg. A price as low as this does not even recover the cost of production of tomatoes, which is around Rs 5/- per kg. As a first step towards addressing the ongoing crisis, bigbasket.com has decided to pay the farmer a subsistence price of Rs 7/- per kg as against the market price of Rs 5/- to cover at least the cost of cultivation of the farmer and give him a sustenance income. At the same t...

25Apr By No Comments

News

PepperTap Shuts Down Grocery Delivery

PepperTap Shuts Down Grocery Delivery, Pivots to Logistics Sriram Sharma , 25 April 2016 Share on FacebookTweetShareShareEmailReddit PepperTap Shuts Down Grocery Delivery, Pivots to Logistics Hyperlocal grocery delivery startup PepperTap announced on Saturday that it will be shutting down its operations, the latest casualty in a sector that saw exits of pilots programs from Ola and Flipkart this year. The company will be shifting its focus to e-commerce logistics, where it can lend its expertise of same day deliveries. "We are now changing our business model and will not be able to deliver groceries to you. In case you have any queries, feel free to call us at 186001216001 or email us at [email protected]," reads the farewell message posted on PepperTap's app. Navneet Singh, Co-F...