Rivigo expects to attain cash breakeven level by FY 20 end

Technology-enabled logistics firm Rivigo may become one of the first unicorns to turn profitable, expecting to become cash breakeven in the current fiscal itself. In a recent press release, the company has claimed adding Rs. 300 crore to its topline registering a 45% annual growth last year. Focused on profitable growth since the beginning of the year, the company has shifted focus away from building a freight marketplace. Commenting on the shift in focus,  Gazal Kalra, Co-Founder, Rivigo, said, “We believe it is important to  build a freight marketplace with…

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CAIT- Mastercard initiates cashless campaign to promote digital payment by traders

Traders body Confederation of All India Traders (CAIT) and Mastercard have joined hands to promote digital payment among the traders community in the country. At an event marked by the presence of Union Minister Piyush Goyal and Former Indian Cricket Team Captain M. S. Dhoni last week in New Delhi,  CAIT and Mastercard launched a “ Team Cashless Campaign“  which would aim at bringing both traders and consumers in alignment with digital payment modes. CAIT in association with Mastercard had earlier launched a digital payment campaign in 2014 and held…

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DP World initiative to help Indian logistics start-ups

Global logistics major DP World has initiated LOG-X, a national technology accelerator platform which would tend to empower logistics start-ups in India to adopt cutting age technologies and offer more efficient solutions. For this initiative, DP World has partnered with three agencies – Invest India, Kerala Start-Up Mission and its own accelerator partner Startup Réseau, Launched on October 11 in Mumbai, the platform will encourage the adoption of digital technologies like Artificial Intelligence, Blockchain, Internet of Things (IoT), etc by the select logistics start-ups. Speaking at the launch event, Rizwan…

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GeM partners with one more public sector bank

Government e-Marketplace (GeM) signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) in New Delhi on October 10, 2019. Through this partnership, UBI will be able to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the GeM portal. The MoU will facilitate a cashless, paperless and transparent payment system on the portal and will create an efficient procurement system for government entities.  Online integration for payments…

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ITI – IESA to create 5G village architecture

To strengthen the electronics system design and manufacturing (ESDM) ecosystem in the country at-large, ITI Limited, a public sector undertaking in the telecommunications technology segment has signed a Memorandum of Understanding (MoU) with India Electronics & Semiconductor Association (IESA), a not-for-profit industry body that works towards enhancing and promoting made-in-India products for world markets.   The MoU envisages setting up of infrastructure to enable ITI develop intelligent electronics ecosystem in the country inclusive of product design, development and manufacturing with a focus not limited to areas such as Telecom, Internet of Things, Smart Cities,…

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Wing-FedEx to introduce drone delivery

Wing Aviation LLC  is collaborating with FedEx Express and Walgreens to launch a first-of-its-kind drone delivery service in Christiansburg, Virginia soon. FedEx customers who live within designated delivery zones in Christiansburg, Virginia, and who opt in to the Wing delivery service, will be able to receive their packages via drone during the trial, provided certain operating conditions are met. “FedEx is constantly innovating and testing solutions to meet growing customer needs, and we are excited to add this pilot to our portfolio of first in-kind innovation,” said Don Colleran, FedEx…

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Lifestyle app partners with leading hotels in Delhi and Mumbai

The LuxePass, India’s first-of-its-kind lifestyle app that provides non-resident guests with the luxury to access hotel amenities at affordable rates recently announced its partnership with The Oberoi Gurgaon, Trident Hotel BKC Mumbai, Trident Hotel Nariman Point, Mumbai and Eros Hotel New Delhi. One of the main objectives of the app is helping partner hotels utilize their idle inventory such as spa, salon, gym and pool, the cost of which has already been incurred by these hotels, to their maximum capacity. With the onset of this partnership, app users will be able to…

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Government backed app for consumer grievance redressal

In its bid to strengthen the response mechanism to consumer grievance, Union Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan has launched a dedicated app. ‘Consumer App’ aims to provide a one stop solution for consumer grievance redressal at the palm of every consumer across the nation via mobile phones. The complaint registered with the app will be monitored on a daily basis by the ministry and there will be time bound resolution of all grievances. The complaints that are simple will be resolved within 20 days…

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Cash Suvidha plans to raise $5-10mn equity funds

  Cash Suvidha, the trade name of Usha Financial Services that extends business loans to SMEs & MSMEs and personal loans to individuals is planning to raise $5-10mn equity funds in the next six months. In March 2018, the company raised $1 Mn in order to provide effective financial solutions to the entrepreneurs and individuals. Now the company is planning to raise funding this year to achieve the next level credit growth. The company will use the funds to increase its loan books and to further strengthen its technological infrastructure. Founded…

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Warehouses undergoing a major makeover, says Zebra study

Zebra Technologies Corporation, an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, announced the results of its latest Warehousing Asia Pacific Vision Study early this week. The study analyzes IT and operations decision makers from manufacturing, transportation and logistics, retail, post and parcel delivery and wholesale distribution industries for their current and planned strategies to modernize warehouses, distribution centers and fulfillment centers. “Warehousing, distribution and fulfilment operations are undergoing a modern-day makeover as they transform to meet the growing needs of the world’s on-demand economy.…

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