All stories by Peerzada Abrar
Trucking startup BlackBuck's valuation crosses $1 bn, joins unicorn clubRediff.com6 days ago
BlackBuck, India's leading online trucking platform, has closed a $67 million round of equity financing. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. The investment has made the Bengaluru-based company a 'unicorn,' or a startup valued at more than $1 billion, according to the firm. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
Indo-American Chamber slams new e-com rulesRediff.com6 Jul 2021
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Skylark Drones raises $3 mn to fuel international expansionRediff.com6 Jul 2021
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
'Amazon has an outsize impact on India'Rediff.com3 Jul 2021
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
Space tech start-up Agnikul raises $11 mn fundingRediff.com20 May 2021
Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
Amazon's next CEO Andy Jassy's India PlanRediff.com15 May 2021
'We look forward to providing great customer experiences in India.'
Indian economy in better shape to tackle Covid 2nd wave: CEA SubramanianRediff.com17 Apr 2021
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
How Xiaomi passed the Covid lockdown testRediff.com16 Apr 2021
'One out of three phones sold in India is a Xiaomi phone.'
Byju's buys Aakash Educational Services for $1 bn over Zoom callRediff.com6 Apr 2021
The stock-and-cash deal is the biggest in the education space.
Udaan, 'Bharat ka e-commerce' see huge surge in businessRediff.com31 Mar 2021
Categories such as lifestyle, food and electronics accounted for over 1,350 sellers across the country last year.
Foreign e-com cos creating massive unemployment, alleges RILRediff.com23 Mar 2021
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
Has Amazon actually broken India's e-commerce laws?Rediff.com19 Mar 2021
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
E-com firms want govt to 'tweak' existing export policiesRediff.com9 Mar 2021
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
Flipkart keen to add Cleartrip to its cartRediff.com3 Mar 2021
Apart from air travel, Flipkart would also be able to offer train bookings through Cleartrip.
Uber's business shows strong recovery signs post lockdown in IndiaRediff.com2 Mar 2021
As Indians start travelling in the new normal, strong recovery in smaller towns underscores success for ride-hailing giant's 'India to Bharat' strategy, which offers new products in regional markets.
India set to have 150 unicorns by 2025Rediff.com2 Mar 2021
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
Amazon partners with Mahindra Electric to include EVs in delivery fleetRediff.com24 Feb 2021
How Covid changed the lives of Amazon India's employeesRediff.com21 Feb 2021
From virtual yoga to empathy, the pandemic has prompted the e-commerce giant to double down on building innovations focused on improving remote work culture especially employee well-being, both mental and physical.
'We are the eyes and brain of the missile'Rediff.com15 Feb 2021
'Our sensors allow the missile to locate and identify the target even if it's on the move.'
Ola to deploy robots at its electric scooter factoryRediff.com12 Feb 2021
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.