Delhivery raises more than $400 million

Gurgaon headquartered logistics technology firm Delhivery has confirmed raising more than $400 million in a fresh funding round supported by SoftBank Vision Fund. The other notable investors in the company, Carlyle and Fosun, also participated in this round. The staggering fresh funding support to the company is slated to give a major boost to the massive expansion drive of the company. The company in a statement maintained that with fresh funding support, the company will expand its pincode coverage from 15,000 to 20,000 by the end of the first quarter…

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Vulcan Express founder to spearhead Future’s 7-Eleven business

Hardeep Singh, founder of Vulcan Express who had joined Future Group last year after the acquisition of his company, has been entrusted with the responsibility of spearheading the 7-Eleven retail stores business. Future Group had recently signed a deal with 7-Eleven retail stores, world’s largest convenience store chain, becoming its master franchisee in India. In a recent comment, Kishore Biyani, CEO of Future Group, said that the growth and expansion of 7-Eleven “will be a critical part of growing our food and FMCG brands and bringing new services, formats and conveniences…

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Flipkart introduces robot based sortation technology

To gain efficiency at its Soukya sortation facility in Bengaluru, domestic e-commerce major Flipkart recently introduced India’s first robot-based sortation technology, automated guided vehicles (AGVs). The new system entails over 100 robots now engaged in sortation exercise clearing as much 5,000 parcels every hour – a significant jump against 450 parcels sorted by humans. “The throughput which these (robots) are providing is almost 10x of what we would have achieved. These robots talk to each other in real time, whether it is to (prevent) collision or for workload distribution,” Pranav…

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DP World reports 20 percent revenue growth

Global port terminals and logistics giant DP World has recently announced strong financial results for the year ending on December 31, 2018. The revenue of the company shot up to $5.6 billion which marks an impressive 19.8 percent growth. The profit margin went up by 5.1 percent at $1,270 million. The staggering growth in revenue has been driven by acquisition of Drydocks World, Dubai Maritime City (DMC), Cosmos Agencia Maritima, Continental Warehousing Corporation (CWC)and Santos consolidation. Like-for-like revenue increased by 4.2% driven by a 6.3% increase in total containerized revenue.…

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SpiceJet becomes first low cost Indian carrier to join IATA

SpiceJet last week notched another major distinction when it became the first low cost Indian carrier to join world’s largest airlines group IATA (International Air Transport Association). The membership of IATA is slated to give a major boost to SpiceJet’s expansion plans helping it with codeshare agreements with other partner members. IATA presently has around 290 members which includes three carriers from India: Air India, Jet Airways and Vistara. “The membership will further enable us to inculcate global best practices and innovations. IATA also provides us a platform to closely…

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Ninjacart reaches out in west and northern markets

Bengaluru-based agri-tech platform Ninjacart has expanded its operations to the west and northern markets in the country. The platform that connects farmers to retailers has now started its operations in Mumbai, Pune and Delhi. Its expansion in new geographical locations has been triggered by Rs 250 crore of series B funding. Established three years ago, the platform has been primarily catering in the south Indian market and presently handles 350 tonnes of vegetables and fruits from over 4,000 growers. “We are excited to expand our footprint outside South India.  It…

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India’s sugar production rises 6% till March 15

India’s sugar production rose by 6% to 273.47 lakh tonnes till March 15, 2019, the Indian Sugar Mills Association (ISMA) said in a statement. On the corresponding date last year, 258.20 lakh tonnes had been produced with 399 mills operating as on 15th March 2018, the industry data said. “During 2018-19 SS, 527 sugar mills were in operation and they have produced 273.47 lakh tonnes of sugar till 15th March 2019. As on that date, 154 mills have stopped crushing and 373 sugar mills in the country continue their crushing,…

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Cold Chain centers should be set up close to farms

Gopi G (Regional Business Manager -South, Snowman Logistics)   The Cold Chain industry in India has a compelling future. The cold storage capacity has grown 1.2 times during 2012 to 2017. However, it is subject to a number of challenges. A majority of the cold storages are owned and operated by domestic companies. The Indian cold chain market falls behind in this, that it is unorganized and dominated by traditional cold storage facilities. The National Centre for Cold-Chain Development (NCCD) has been established in India as per the recommendations of…

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