logistics | Pixr8 News

2Jun By AnkitaNo Comments

FUNDING

Beacon raises $15 million funding from Jeff Bezos & others

LONDON, June 1, 2020 -- Uk based logistics company Beacon has raised over $15 million in its Series A fundraising round, with investors including Jeff Bezos, the founder and CEO of Amazon, and leading US venture capital firm 8VC. Beacon was founded in 2018 by CEO Fraser Robinson and COO Dmitri Izmailov, both former Uber executives. They were joined by CTO Pierre Martin, previously at Amazon, bringing together a management team with deep expertise in logistics, technology, finance and hyper-growth. The freight forwarding and supply chain finance industries are worth an estimated $1 trillion and $12 trillion a year, respectively. Beacon offers a full range of services, including global ocean, air and truck freight, together with supply chain finance, all of which can be accessed...

Singapore logistics firm Ninja Van raises $279 million

5May By AdityaNo Comments

FUNDING

Singapore logistics firm Ninja Van raises $279 million

SINGAPORE, 5th May 2020- Singapore based eCommerce logistic startup Ninja Van raises $279 million in funding from Facebook co-founder Eduardo Saverin’s B Capital and ride-hailing firm Grab. Existing investor Europe’s GeoPost alongside two sovereign wealth funds have also participated in this round. Other investors include Monk’s Hill Ventures and Golden Gate Ventures Growth Fund. The company so far has raised a total of $400 million. Launched in 2014 with operations in Singapore and Malaysia, the company has also expanded into countries like the Philippines, Indonesia, Thailand, and Vietnam. The company provides services to e-commerce firms like Alibaba’s Lazada, Indonesia’s Tokopedia, and Sea Ltd’s Shopee. Ninja Van will use this funding to invest in the b2b sector while ...

15Apr By AnkitaNo Comments

FUNDING

FarEye raises USD 25 mn funding, to accelerate growth in US, Europe

Logistics software company FarEye raises USD 25 million (around Rs 190 crore) in funding led by Microsoft's venture fund M12, with participation from Eight Roads Ventures and Honeywell Ventures. Existing investor SAIF Partners also participated in the series D round. The company, which has raised USD 40 million till date, did not disclose the valuation at which the latest funds were raised. "We will use the funds to further invest in enhancing predictive capabilities of our platform as well as accelerating growth in Europe, the US and the Asia Pacific," FarEye co-founder and CEO Kushal Nahata told Pixr8 News. Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye's logistics platform enables enterprises to operate, track, and optimize their logistics operatio...

How Coronavirus Impacts Global Supply Chain

12Mar By PriyankaNo Comments

BLOGS

How Coronavirus Impacts Global Supply Chain

TEMPE, Ariz., March 11, 2020-- The Institute for Supply Management (ISM) revealed the results of a survey focused on coronavirus disease 2019 (COVID-19) business and supply chain impacts. Notably, nearly 75 percent of companies report supply chain disruptions in some capacity due to coronavirus-related transportation restrictions, and more than 80 percent believe that their organization will experience some impact because of COVID-19 disruptions. Of those, one in six (16%) companies report adjusting revenue targets downward an average of 5.6 percent due to the coronavirus. "The story the data tells is that companies are faced with a lengthy recovery to normal operations in the wake of the virus outbreak," said Thomas W. Derry, Chief Executive Officer of ISM. "For a majority of U.S. b...

Adani Group Acquires 40.25% Stake of Snowman Logistics, forays into Cold Chain Logistics

27Dec By AnkitaNo Comments

ACQUISITION

Adani Group Acquires 40.25% Stake of Snowman Logistics, forays into Cold Chain Logistics

India based Adani group has acquired a majority stake in Snowman Logistics Ltd for Rs 296 crore to foray into cold chain logistics. Adani Logistics Ltd, a wholly-owned subsidiary of Adani Ports and SEZ Ltd, signed definitive agreements to acquire 40.25 per cent stake in Snowman Logistics Ltd from Gateway Distriparks Ltd, the company said in a statement. Snowman is market leader in cold chain logistics with over 30 per cent of capacity amongst integrated organised cold chain service providers in India. The acquisition gives Adani Logistics platform to double its capacity in the next five years. The buyout is in line with the firm's strategy to move from port gate to customer gate. "The purchase price of Rs 44 per share represents a 8 per cent premium to the market price of Decem...

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...

Airtel Acquihire Logistics Startup Quikmile

25Nov By AdityaNo Comments

ACQUISITION

Airtel Acquihire Logistics Startup Quikmile

Telecom company Bharti Airtel acquihire Gurgaon based Quikmile, a startup focused on building tech-enabled logistics platforms for India. The company did not disclose the size of the 'acquihire' deal, which typically entails the acquisition of people or teams. "Quikmile's team will now be a part of Airtel X Labs Airtel's digital innovation factory, which focuses on IoT, Digital Engineering, Artificial Intelligence, and Machine Learning," Airtel said in a statement. Airtel X Labs team comprises of professionals from India and abroad, the statement said, adding that it is building advanced digital capabilities to serve the emerging needs of Digital India and is rapidly scaling up its teams and scope of work. Quikmile, which started operations in 2018, aims to harness the power of...

Shopify to Acquire Warehouse Firm 6 River Systems For $450 Million

17Sep By PriyankaNo Comments

ACQUISITION

Shopify to Acquire Warehouse Firm 6 River Systems For $450 Million

OTTAWA, Canada & WALTHAM, MA 17th September 2019- Shopify the leading multi-channel ecommerce platform looking to acquire warehouse firm 6 River Systems. Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately USD$450 million, consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares. Included in this amount are Shopify Class A shares and options valued at approximately $69 million that will be issued to 6 River Systems’ founders and employees that will vest subject to certain conditions and will be treated as stock-based compensation. In June, Shopify introduced the Shopify Fulfillment Network, a powerful and trusted fulfillment network that will ensure timely deliveries, lower shipping co...

11Jul By AnkitaNo Comments

FUNDING

Supply Chain Startup O4S raises $2.1 mn in funding

Supply chain solutions start-up O4S has raised USD 2.1 million (about Rs 14.3 crore) in pre-series A funding, led by Venture Highway to expand its operations in India. The three-year-old start-up has raised a total of USD 2.5 million so far, including a seed investment of USD 400,000 in 2017. The new funding will be used to strengthen its workforce, accelerate client acquisition and build technology infrastructure across industries within India, it added. O4S focuses on industries like agriculture, fast-moving consumer goods, pharmaceuticals, and personal care products. Some of its clients include PepsiCo, ITC, Honeywell, DCM Shriram, and Campus Shoes, among others. The firm's core offering Supplytics helps brands connect directly with retailers and distributors by tracking pro...

2Jul By PriyankaNo Comments

FUNDING

Logistics startup Freight Tiger raises $8 million funding

Logistics technology start-up Freight Tiger raises USD 8 million (about Rs 55 crore) from investors, led by Lightspeed Venture Partners along with Alsthom Industries and Pawan Munjal Family Trust. The Mumbai-based business-to-business firm said after the fresh funding round, it plans to expand product and technology through artificial intelligence (AI) as well as machine learning and build industry-specific AI extensions on the platform. "The current fundraising round and investors' confidence strengthen our vision to build an operating system that powers the entire logistics and freight ecosystem," Freight Tiger Chief Executive Officer and founder Swapnil Shah said in a statement. Lightspeed India Managing Director Bejul Somaia said in the past couple of years, there has been rap...

9May By AdityaNo Comments

FUNDING

TagBox raises $3.85 mn from TVS Motor

TVS Motor Company has invested USD 3.85 million (about Rs 26.69 crore) in TagBox, a machine learning platform company as part of its Series A funding round. This round was entirely led by TVS Motor Company and its Singapore based subsidiary TVS Motor (Singapore) Pte Limited, the company said in a statement on Wednesday. The current investment in Tagbox is part of the initial set of investments, being made in strategically relevant digital startups, it said. TagBox plans to use the funds to strengthen product innovation and R&D, while expanding its global footprint, it added. Launched in 2016, Tagbox Solution provides a coldchain solution, food spoilage, product damage, real-time signal for theft and pilferage. TagBox was started with the vision of enabling organizations...

Delhivery Raises $413 Million From Softbank Vision Fund

26Mar By reutersNo Comments

FUNDING

Delhivery Raises $413 Million From Softbank Vision Fund

MUMBAI: Delhi based logistics service provider Delhivery has raised fresh investment of $413 million in a financing round led by the Softbank Vision Fund, they said in a joint statement on Sunday. Carlyle and Fosun, both existing investors in the e-commerce business, also participated in the latest financing round. Delhivery was founded in 2011 as a food delivery company but has since shifted to providing a full suite of logistics services in more than 1,800 cities. "We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships, in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners," Delhivery CEO...