Category: General

Bengaluru based LetsTransport , an Intra-city logistics marketplace raises ₹13 crores from InnoVen Capital .

Sreyashi B

Intra-city logistics marketplace, LetsTransport has raised ₹13 crores as a part of a new debt round from venture debt provider InnoVen Capital. Founded in 2015, by IIT-Kharagpur alumni, Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, Bengaluru-based LetsTransport provides urban logistics solutions to enterprises by offering tech-enabled intra-regional transportation services.It also enables enterprise clients to book trucks and manage bookings through their mobile app, call and website. “We continue to be bullish on the logistics space and expect that organized players will continue to gain share on the back of higher efficiencies…

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Chinese giant Alibaba backed Bigbasket to see 200 mn Dollars in new fund raise

Sreyashi B

Online grocer BigBasket is planning to raise around $150-200 million, two people aware of the development said, as the coronavirus outbreak and the nationwide lockdown are expected to boost online grocery sales. Supply chains were disrupted in the early days of the lockdown but, subsequently, e-commerce has emerged as the most viable alternative for people to source essential supplies such as groceries, as restrictions on movement and the fear of contracting the disease prompted more people to try home deliveries.BigBasket has “appointed Goldman Sachs and Morgan Stanley to help raise…

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India ahead of China in fintech funding in Q1 2020

Sreyashi B

India has overtaken China in attracting venture capital (VC)-backed investments in the fintech sector both in terms of deal value and volume in the March quarter, said data and analytics firm GlobalData. This comes amid diminished investment appetite for fintech startups due to the covid-19-led global economic crisis. China, where the pandemic originated, has been particularly hit hard.In the last two years, China’s fintech startup ecosystem was a breeding ground for VCs. This trend has now been reversed with Indian fintech startups attracting more investments.“In Asia, though there is an…

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eVTOL: A New Mode Of Air Mobility

Toniya

What is eVTOL?An electric vertical take-off and landing aircraft is one that can hover, take off, and land vertically. This classification can include a variety of types of aircraft as well as helicopters. The Future of Flight can be energy efficient.The eVTOL can be described as a vehicle that fits somewhere in between a drone and an aeroplane. The eVTOL features vertical takeoff and landing (VTOL) capability, electrification of lift and thrust (rotating a propeller), and automation of controls.The eVTOL’s can be used greatly for everyday transportation, emergency purposes(first aid,…

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Chinese tech giant Tencent launches ‘ VooV Meeting ‘

Aditya

The outbreak of the COVID-19 virus has led to the rise of various remote conferencing apps like Zoom, Google Meet, Microsoft Teams, etc. The exciting thing to this is the number of downloads of the various video conferencing app provider has hit a record of 62 million in just 7 days between 14 to 21 April according to App Annie report. Tencent is the latest company to join with its new product called VooV Meeting. It is an alternative to Tencent meeting but can be used internationally rather than only…

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