- The lowdown on Locus’ $22M funding by Falcon Edge and Tiger GlobalScope for technological disruptionAs with Locus, investors believe innovative B2B logistics startups employing cutting edge technology such as robotics, automation, data analytics, and Internet of Things (IoT), have the potential to significantly disrupt the logistics market.
- Navroz D. Udwadia, Co-Founder of Falcon Edge Capital, which recently invested in Locus, said, ” We believe the trillion-dollar global logistics market is ripe for disruption via technological change, particularly AI and Machine Learning driven solutions.
- The distribution network needed for large retail businesses is vast, and logistics forms a key part of that network.” Indeed, India’s tech-based logistics startups are looking to offer solutions to existing challenges in supply chain management by leveraging disruptive technology.
- Volatile demand patterns, throat-slitting competition, rising fuel costs, and expediting deliveries are, if anything, a serious dynamic cost,” says Kushal Nahata, CEO of logistics startup FarEye, adding that tech-based logistics startups are now looking to offer related solutions.
Read full article: yourstory.com
- Speaking at the inauguration of an incubatee training programme at the Sri Padmavathi Mahila Viswa Vidyalayam (SPMVV) here on Monday, he said Startup India, the flagship initiative of the Centre, intended to build a strong ecosystem conducive for the growth of startups, apart from driving sustainable economic growth and generating large-scale employment.
- Speaking about liberalisation of the country’s economy in 1991 in his keynote address, Mr. Naidu, president of the Amara Raja group, said the new economic policy was market-driven and service-oriented.
- Potti Sriramulu Telugu University incharge Vice-Chancellor V. Durga Bhavani said entrepreneurs ” translated ideas into action” and hailed them for giving the much-needed thrust to economic development.
Read full article: thehindu.com
- With the idea of disrupting the Indian warehousing space through Automation, Addverb Technologies Pvt Ltd was established in June 2016.
- Addverb Technologies majorly divides its operations under three categories; Robotics, Warehouse Automation and Industrial Internet of things (IIOT).
- Addverb is committed not only to realize the dream of ” Make-In-India” but also intends to take Indian Engineering to a global scale by making Indian manufacturing competitive.
- Currently, the market size for the automation industry for the estimated warehouse space of 919Mn Sqft (organized) is INR 1600 Crores, for 4.6Mn Sqft of automation space.
- This estimation is a result of the rising demand for Automation, both semi & full automation, and the total warehouse automation market size is INR 9100 crores.
- With a wide variety of product portfolio, Addverb Technologies competes with different players depending on the category.
Read full article: techstory.in
- LivSpace which is an online home design startup today said Ingka Group, the franchise partner of the furniture giant Ikea, has also picked up a minority stake in the company.
- Ingka Group operates 400 Ikea stores across the globe which even includes in India, fetches around 80% of Ikea sales.
- The company as of now did not close the size of investment – Ikea first technology investment in India – but two people familiar with the matter as said on the condition of anonymity that Livspace received around $10-$15 Million.
Read full article: techstory.in
- Abolish angel tax for SMEs, capital for women, deeptech entrepreneurs; here’s what startups expect from new government
- Over a decade old Indian startup ecosystem has already been ignited in the past five years with favourable policies around taxation, investments, ease of doing business, incubation, foreign capital, cross border programmes between governments, startup lobby groups, industry associations and chambers.
- ” We would expect the government to look at working capital funding especially for deep-tech and related areas including machine learning, robotics etc., that have a longer gestation period and the cycle time for return and development are also longer than other businesses like in
- Moreover, there should be an additional capital allocation for women entrepreneurs, said Dr Srivastava and a special focus on sectors such as agritech, biotech, healthtech, and education.
- Founder and Chairman Sachin Taparia told Financial Express Online.
Read full article: financialexpress.com
- Indian interior design startup Livspace confirms investment from Sweden’s IKEA
- Swedish furniture behemoth IKEA has made a minority investment in Goldman Sachs and TPG Growth-backed Indian startup Livspace, which helps consumers manage home renovations and interior design, according to an announcement.
- On one hand, the investment gives us the opportunity to create one of the best omnichannel interiors and furniture purchase experience for homeowners.
- ” This minority investment aligns closely with the digital direction of Ingka Group and our core business, IKEA Retail, and we are looking forward to exploring new opportunities together with Livspace” , said Krister Mattsson, head of Ingka Investments, Ingka Group.
- The company brings together homeowners, interior designers and vendors, allowing homeowners to design their homes in a predictable and fuss-free way.
Read full article: dealstreetasia.com
- Manoj Kanumuri, (CEO, Sayint and Zen3) leveraged his vast experience in delivering AI, ML and digital user journeys for some of the world’s largest brands to build and scale the Sayint conversational AI platform.
- We help organisations deliver better customer experiences by working inward and outward to understand, analyze and help relevant stakeholders take action on 100% of customer conversations,” says Kanumuri.
- The first is to gather 100% of customer conversations from multiple sources including web, social, email, chat and contact centre.
- The delivery mechanisms include custom dashboards specific to stakeholders, voice bots, chatbots, email automation bots and RPA.
- The move towards customer centricity and personalization is fuelling the push for the use of conversational analytics to understand the user journey, intent, sentiment, and actionable items to upsell, cross-sell or retain to customers and deliver better experiences.
Read full article: analyticsindiamag.com
- The Bharatiya Janata Party (BJP) mastered the art of influencing voters via social media platforms in Lok Sabha elections and WhatsApp has
Read full article: sentinelassam.com
- Launched in 2013 as an app-based food delivery service, Door-Dash competes against the likes of Grubhub and UberEats, which allow consumers to order food from their favourite restaurants.
- The final size of the funding round is still being determined, and could easily exceed $500 million, said the people, who requested anonymity because they were not authorised to discuss the matter publicly.
Read full article: retail.economictimes.indiatimes.com
- Kolkata-based Spencer’s Retail Ltd on Friday said it will acquire 100 percent stake in grocery chain Nature’s Basket for Rs 300 crore.
Read full article: yourstory.com