$36m capital infusion to support Ecom Express’ next level expansion

Warburg Pincus backed Ecom Express has drawn a fresh round of funding from CDC Group, the UK’s development finance institution. The Gurgaon headquartered end to end logistics service provider, particularly known for its alignment with the fast growing e-commerce business in the country, has drawn an equity investment of $36 million from the UK finance institution which is slated to assist in its next level expansion. The modest capital infusion is slated to enhance the penetration of the company within the country in reaching out to the hinterland locations. The…

Read More

Allcargo adds express service to its portfolio

Allcargo logistics has added express logistics service to its portfolio by acquiring a controlling stake in Gati Ltd. The company last week confirmed this move after the board approved the deal amounting over Rs 400 crore. “The exponential rise in cross-border and domestic e-commerce has opened up new markets for traditional express players such as Gati. With Allcargo’s strength in the ocean transportation business and Gati’s expertise in land and air transportation, we are now in a unique position to offer our customers a suite of truly multimodal solutions,” Shashi…

Read More

SPOTON Logistics achieves ISO 9001:2015 certification

Spoton Logistics has been awarded the ISO 9001:2015 certification for its end-to-end Express Logistics operation services. Issued by Lloyd’s Register Quality Assurance, the ISO 9001 certification involved a lengthy process – complete with audits and training. The ISO 9001 certification assures customers that across every operational aspect of its express logistics service, from consignment booking, pickup, package handling at hubs, during transit, on the way to a customer, or anywhere in between, Spoton adheres to stringent quality standards across its process driven operations, meeting customer expectations as well as regulatory…

Read More

Funding support for Holisol Logistics

New Delhi-based supply chain solutions provider Holisol Logistics has raised a fresh round of funding amounting Rs 20 crore. The latest funding support has come from Mumbai-based NBFC BlackSoil Capital. The company will be utilizing the funds for its further capacity building, strengthening of team, and expanding its tech-based solutions portfolio for its customers.  The company was founded in 2009 by Manish Ahuja, Naveen Rawat, and Rahul S Dogar. “We aim to provide solutions that fit our customers’ business requirements, rather than offering standard products which require the customer to…

Read More

Airtel acquires logistics tech start-up Quikmile

Telecom giant Airtel on Monday announced the acquisition of Gurgaon based logistics tech start-up Quikmile. Started in 2018, Quickmile aims to leverage the power of digital technology to transform India’s highly disorganized logistics sector and bring efficiency, quality, and safety to fleet owners. Quickmile will now be integrated with Airtel X Labs – Airtel’s digital innovation factory, which focuses on IoT, Digital Engineering, Artificial Intelligence, and Machine Learning. The Airtel X Labs team comprises of top-notch professionals from India and abroad. Harmeen Mehta, Global CIO and Director – Engineering, Bharti…

Read More

CEVA Logistics reports mixed financial result

Swiss 3PL major CEVA Logistics, now controlled by French firm CMA CGA, has reported mixed results for the quarter ending September 30th. The company reported EBITDA figure of $125 million for the quarter which is significantly higher than the corresponding quarter figure last year. Its revenues,however, declined by 3.4% reaching close to $1.75 billion. The group saw a marginal to modest decline in its key verticals – Contract Logistics and Freight Management. The revenues in the contract logistics business went down by 4.8% at $884 million. In freight management business,…

Read More

UPS initiates enhanced services programme for Asia Pacific region

Global logistics major UPS (NYSE:UPS) has announced a series of service enhancements that will benefit up to 1.4 million postal codes across 41 countries and territories in the Asia Pacific region, opening opportunities for businesses to develop more resilient supply chain strategies. “Asia is an incredibly dynamic, evolving region, and trade in the region is helping to power the global economy—whether it’s through increased consumption in emerging economies such as Vietnam and the Philippines, or through supply chains that weave their way through the region and around the world,” said Ross…

Read More

Chinese electric cargo vehicle manufacturer gets its first order in India

Chinese auto major BYD, which is known for its electric vehicle offerings and has a presence in the country with its subsidiary BYD India, is all to make an entry in the country’s cargo vehicle segment. The company which has made an entry in India’s electric bus market has now bagged order from Eto Motors to supply 50 T3 cargo vehicles. “Developing and promoting a strong EV ecosystem and cultivating consumer awareness and confidence to adopt clean technology is our goal in making the planet better. The logistics segment is…

Read More

Adani Ports’ cargo volume increases by 9 percent in H1

Adani Ports and SEZ recently released its H1 FY20 report which earmarks 9 percent growth in cargo throughput at 109 MMT. According to a company release, “Ports across all the three regions registered strong growth. Dhamra the eastern port of APSEZ registered a growth of 46%, Kattupalli the southern port registered a growth of 17%. The western ports of Hazira grew by 7% and Mundra grew by 5%.” Total revenue on a year on year basis grew by 12 % from Rs.5,019 cr. in H1 FY19 to Rs.5,616 cr. in…

Read More

Vedanta’s Aluminium & Power subsidiary bags Jamkhani Coal block

Vedanta’s aluminium & power subsidiary participated in and emerged as the highest bidder for the Jamkhani coal block in Sundargarh district, Odisha, in the 10th tranche of the captive coal block auction conducted by Ministry of Coal, Government of India. The coal block is in proximity to the company’s Jharsuguda aluminium smelter. The Jamkhani coal block is one of the most attractive coal blocks for the company’s Jharsuguda plant in terms of location, annual capacity, reserves and readiness to produce. The approved per annum capacity of the mine is 2.6…

Read More