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B2B Startups
B2B unicorn udaan has fired 300-350 employees across India on account of role redundancies and cost cutting measures, according to sources. Few of the employees told PTI that they were intimated about the layoff on Friday morning and told that the human resource department will reach out to them for final paperwork. Sources aware of the development said around 300-350 people have been laid off from the company. When contacted, udaan confirmed the development without sharing the number of employees hit by the decision. "As we move forward in our journey towards making udaan a profitable company, the efficiency enhancement drive and the evolution in business model has created some redundancies in the system, with some roles no longer required. As a responsible organisation, we are working towards providing all requisite support to the impacted employees," a company spokesperson said. The spokesperson said over the last few years, udaan has made significant investments to build a ...
Mahindra Logistics on Monday announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services, which will help the company accelerate its capabilities in this space. Mahindra Logistics Ltd (MLL) will acquire the express business through a business transfer agreement (BTA), including the customers, team and assets of Rivigo's B2B express business and its technology platform, Mahindra Logistics said in a statement. Rivigo, however, will continue to own its truck fleet and the rights to the full truck load (FTL) operations. Rivigo operates a pan-India B2B express network with a robust client base and a full-service technology suite. Its express network currently covers over 19,000 PIN codes across the country through over 250 processing centres and branches, spanning more than 1.5 million sq ft. "This will add significant strength to Mahindra Logistics' express business capability," the company said. B2B express logistics continues to see strong
Business-to-business commerce player Peel Works is probably the first firm that is planning to replace its entire fleet of fossil fuel-based delivery vehicles with electric ones and procure 100 EVs in the first phase. Peel Works, a Mumbai-headquartered B2B (business-to-business) grocery e-commerce company, is in talks with Piaggio, Tata Motors, Mahindra and Greaves for procuring 100 EVs (electric vehicles) for its distribution business. It operates the retail management platform, Taikee, and Manpower, Payroll management and Logistics as service platform 1SF. "We have plans to shift entirely to EVs (electric vehicles). As of now, in the first phase, we are planning to take 100 EVs ahead of this festival season. If it went well then we will go for more EVs deployment," the company's co-founder and supply chain Head, Lt Col Pushkar Raj (Retd) told PTI. He further told that the company is in talks with Piaggio, Tata Motors, Mahindra, and Greaves to procure 100 EVs (light goods vehicles
Aksum Trademart, a business-to-business (B2B) startup into raw material supply to MSMEs, plans to raise USD 25 million (about Rs 199 crore) from investors to fund its expansion plans. The company has hired a boutique investment banking firm to help raise capital. "We plan to raise phase-wise capital in line with our growth milestones and for making investment into technology. As per the growth milestones we are looking to raise USD 25 million over the next 12 months," Aksum Trademart co-founder Sumit Bhatia said. The company is in discussion with early stage investors and family offices to meet the capital requirements, the other co-founder Ankit Jain said, adding that the digital supply chain of the future will require the companies to outsource, that is, to leverage Supply Chain as a Service (SCaaS). The advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility and better asset management, Bhatia said. On the debt front, he said, the .