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15Nov By AnkitaNo Comments

ACQUISITION

Uber Freight Completes Acquisition of Transplace

SAN FRANCISCO & FRISCO, Texas-- Uber Freight, a subsidiary of Uber Technologies, Inc. (NYSE: UBER), announced that it has completed the acquisition of Transplace from TPG Capital for approximately $2.25 billion in an all-cash transaction. As partial financing for this transaction, Abu Dhabi Growth Fund (ADG), D1 Capital, and GCM Grosvenor invested $550 million in Uber Freight. The transaction brings together Uber Freight’s vast network of digitally-enabled carriers with Transplace’s trusted shipper technology and operational solutions, ultimately creating one of the world’s leading logistics technology platforms to meet the rapidly evolving needs of shippers and carriers alike. “Logistics is going through a historic transformation. Unprecedented volatility, increasing supply chai...

First Successful Flight of Volocopters VoloDrone

12Oct By NitishNo Comments

Automobile

First Successful Flight of Volocopters VoloDrone

HAMBURG, Germany, Oct. 12, 2021-- Volocopter's electric heavy-lift drone VoloDrone conducted its first public flight today at ITS World Congress 2021. Together with the international logistics leader DB Schenker, Volocopter, the pioneer of urban air mobility (UAM), demonstrated VoloDrone's seamless integration into the logistics supply chain with an end-to-end cargo transport demonstration. The partners showed their significant progress together since DB Schenker became a strategic investor of Volocopter in early 2020. The 3-minute test flight took off at 3:02 p.m and reached a maximum altitude of 22 meters. For this delivery simulation, the electric heavy-lift utility drone was equipped with a load-box in between its landing gear. First, the demonstration teams secured a Euro-pall...

Logistics Company Ecom Express expands to Bangladesh

15Jan By AnkitaNo Comments

BUSINESS

Logistics Company Ecom Express expands to Bangladesh

Dhaka, 15th Jan 2021: Logistics solutions provider Ecom Express is foraying into the Bangladesh market, marking its maiden venture outside India, a statement said. Ecom Express invested USD 11 million (about Rs 80.6 crore) in Bangladesh's largest third-party e-commerce logistics firm, Paperfly. "With more than 167 million inhabitants and over 90 million internet users, the e-commerce industry in Bangladesh is emerging and has become one of the fastest growing markets in the region. The increasing per-capita disposable income has fueled higher consumption from expanding middle classes," it added. Founded in 2016 by Shahriar Hasan, Md Razibul Islam, Rahath Ahmed and Shamsuddin Ahmed, Paperfly is the first homegrown technology-enabled logistics company in Bangladesh. "The investm...

FedEx to acquire eCommerce platform ShopRunner

7Dec By AnkitaNo Comments

ACQUISITION

FedEx to acquire eCommerce platform ShopRunner

MEMPHIS, Tenn., 7th December 2020-- Logistics company FedEx acquires ShopRunner, the e-commerce platform that connects online shoppers with their favorite merchants and brands. ShopRunner connects millions of consumers to more than 100 of their favorite brands, offering a seamless shopping experience across merchants, from inspiration through delivery. ShopRunner’s data-driven marketing and omnichannel enablement capabilities also help merchants acquire high-value customers and accelerate their digital innovation by using ShopRunner’s e-commerce platform. “The acquisition, once closed, aligns with our continued efforts to create an open, collaborative e-commerce ecosystem that helps merchants deliver seamless experiences for their customers,” said Raj Subramaniam, president, and...

DoorDash Launch Its IPO, Price Offer between $75 & $85 per share

30Nov By AdityaNo Comments

Market

DoorDash Launch Its IPO, Price Offer between $75 & $85 per share

SAN FRANCISCO, Nov. 30, 2020 -- DoorDash announced that it has launched the roadshow for the initial public offering of its Class A common stock. DoorDash is offering 33,000,000 shares of its Class A common stock. The initial public offering price is expected to be between $75 and $85 per share. The shares are expected to trade on the New York Stock Exchange under the symbol "DASH." DoorDash is a technology company that connects customers with their favorite local and national businesses in more than 4,000 cities and all 50 states across the United States, Canada, and Australia. Founded in 2013, DoorDash empowers merchants to grow their businesses by offering on-demand delivery, data-driven insights, and better in-store efficiency, providing delightful experiences from door to ...

Volvo Trucks launches range of Electric Trucks for European Market

5Nov By AdityaNo Comments

Automobile

Volvo Trucks launches range of Electric Trucks for European Market

GOTHENBURG, Sweden, Nov. 5, 2020-- In 2021, Europe will be able to order all-electric versions of Volvo's heavy-duty trucks. Volvo Trucks' massive drive towards electrification marks a major step forwards on the road to fossil-free transport. Volvo Trucks is now running tests of the electric heavy-duty Volvo FH, Volvo FM and Volvo FMX trucks, which will be used for regional transport and urban construction operations in Europe. These trucks will have a gross combination weight of up to 44 tonnes. Depending on the battery configuration the range could be up to 300 km. Sales will begin next year and volume production will start in 2022. This means that from 2021 onwards Volvo Trucks will sell a complete range of battery-electric trucks in Europe for distribution, refuse, regional ...

The Logistics arm of Uber, Uber Freight Raises $500 Million

3Oct By AnkitaNo Comments

FUNDING

The Logistics arm of Uber, Uber Freight Raises $500 Million

SAN FRANCISCO & RYE, N.Y., Oct. 3rd, 2020-- Uber Technologies Inc. (NYSE: UBER) and New York-based investment firm Greenbriar Equity Group and one of the leading investors in the logistics space invested $500 million in a Series A preferred stock financing for Uber Freight. After this funding round the logistics arm of Uber, valuing the unit at $3.3 billion. Uber will maintain majority ownership in Uber Freight and will use the funds to continue to scale its logistics platform and accelerate product innovation to equip shippers with technology to power their supply chains. In connection with the investment, Michael Weiss and Jill Raker, Managing Partners of Greenbriar, will join the Uber Freight Board of Directors. With a combination of more than 40 years of investing experi...

Walmart drone delivery testing in North Carolina city

9Sep By AdityaNo Comments

News

Walmart drone delivery testing in North Carolina city

New York, Sept. 9, 2020: US-based retail stores Walmart said in its press release that they are testing on-demand drone delivery with Flytrex. The pilot program launched in Fayetteville, North Carolina, and focuses on delivering select grocery and household essential items from Walmart stores using Flytrex’s automated drones. Tom Ward, Senior Vice President, Customer Product, Walmart said, "From being an early pioneer of universal bar codes and electronic scanning cash registers to our work on autonomous vehicle delivery, we’re working to understand how these technologies can impact the future of our business and help us better serve our customers." Last week, Amazon won regulatory approval to deliver packages by drone, but the company said it was still testing the self-piloting a...

Amazon Ordered 1,800 Electric Delivery Vans from Mercedes Benz

28Aug By PriyankaNo Comments

Automobile

Amazon Ordered 1,800 Electric Delivery Vans from Mercedes Benz

Berlin, Aug 28, 2020: Amazon bought 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date. In announcing the order, Mercedes said it would also join a climate initiative established by Amazon founder Jeff Bezos. By signing up to The Climate Pledge, Mercedes-Benz commits itself to going completely carbon neutral by 2039. Scientists say man-made emission of greenhouse gases such as carbon dioxide must end by 2050 at the latest to avoid pushing global temperatures beyond the threshold of 1.5 degrees Celsius (2.7 Fahrenheit) set out in the Paris climate accord. The transport sector, including the surge in deliveries from online retailers like Amazon, is a major source of carbon emissions. “We need continued innovation and partne...

After Covid19 Warehouse Demand May Rise in Cities

10Aug By AdityaNo Comments

ANALYSIS

After Covid19 Warehouse Demand May Rise in Cities

The demand for small warehouses within city limits is expected to rise over the next one year as e-commerce firms are targeting to ensure same-day deliveries of food and grocery items to customers, according to a report. The demand is likely to be for warehousing of 5000-10,000 sq ft size, property consultant Colliers International said. “E-commerce companies are focussing on same-day delivery with the pandemic-influenced lockdowns placing greater dependency on e-commerce for food and grocery items,” the report said. The consultant said that e-commerce companies are now trying to stock a larger proportion of inventory closer to their customers’ locations for efficiency and to improve the quality of products upon delivery. “Over the next 12 months, we believe in-city warehouses ...

22Jul By AdityaNo Comments

Tech

5 Ways IoT Technology Is Revolutionizing Supply Chain Management

The Internet of Things (IoT) is a fast-growing network of gadgets and devices that can connect to the internet wirelessly. These devices are already changing daily life in ways both obvious and more subtle. Plenty of people already have their homes full of IoT devices smart lights, wireless security cameras, smart home devices, smart thermostats, and so forth but the real innovations are happening in the industry. Shipping, logistics, and supply chain management are already feeling the benefits of implementing IoT to track shipments, pinpoint the causes of shipping damage, and prevent damage to cargo. In everything from tracking delivery speed to monitoring conditions during shipping and storing, streamlining warehousing, and more, IoT tech is changing the way supply chains are managed...

Logistics Trends for 2020 You Should Know About

20Jul By PriyankaNo Comments

ANALYSIS

Logistics Trends for 2020 You Should Know About

In any year, keeping up to date on the latest trends is vital for logistics business owners and operators. In 2020, though, when the world has been hit by a pandemic and shipping and other areas have been impacted, it’s even more important to keep your finger on the pulse. Market conditions and operational possibilities change all the time, but here are some of the key logistics trends for this year that you need to know about. New Marine Emissions Standards At the beginning of this year, the new maritime regulations for sulfur oxides (SOx) came into effect. Shipping and logistics firms now must cut their sulfur oxide emissions to achieve compliance with the International Maritime Organization’s (IMO) 2020 regulations. The rule is designed to curb pollution produced by the worl...