Sector: Logistics
Conflict of interest concern raised about Zomato’s investment into Shiprocket. Founder denies.
Zomato recently had invested $75 mn into Shiprocket as a part of it’s start-up investing strategy. T V Mohandad Pai (ex Infosys CFO) in a tweet raised concern that whether there is a conflict of interest in this investment by Zomato as Deependier Goyal (Founder CEO) had previously invested into Shiprocket in his personal capacity. … Read more
Zomato does an Info edge. Gets into start-up investing
Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years. Four investments of $275 mn – $100 mn for 9.3% stake in Grofers $50 mn in Curefit along … Read more
TCI Express planning drone deliveries by FY 22 end
MD of the Company, Mr Chander Agarwal claims to have recently concluded the initial trials. In the trials conducted in Ahmedabad, medicines and other urgent/immediate delivery packages weighing 5-10 kgs were delivered to the customers, he said. The trials were conducting in collaboration with a start-up and made in India drones were used, he further … Read more
TCI gets in it’s long trusted partner in the cold chain business
Transport Corporation of India (TCI) has sold 20% in it’s cold chain business to Japan’s Mitsui for Rs 63.5 crore. Key points to note – Cold chain business is run through TCI’s subsidiary TCI Cold Chain Solutions Ltd (TCI CCS). TCI CCS provides integrated cold chain logistics services in India, with a focus on temperature-controlled … Read more
How this Bengaluru-based startup is winning Jeff Bezos vs Mukesh Ambani’s fight for retail domination
The ongoing digital transformation of the corner kirana stores, tens of millions of shops catering to 1.3 billion consumers, will matter for everyone from Unilever NV and Procter & Gamble Co. to State Bank of India, the country’s largest lender. It will also be important to Amazon.com Inc. boss Jeff Bezos and Reliance Industries Ltd. … Read more