Page 2 - B2b Startups

Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round

Last year, Udaan raised $350 million in convertible notes and debt from shareholders and bondholders, with no change in valuation

Apis India to expand product portfolio, aims Rs 500 cr revenue in FY25

Homegrown FMCG firm Apis India plans to expand its product portfolio in the food segment and aims a topline of Rs 500 crore by the end of next fiscal, its Managing Director Amit Anand said on Tuesday. Besides, Apis India has plans to open a new plant to cater to the growing demand and is investing in branding and marketing to make its products more visible in the market. The listed company, which is present in the food segment with honey, dates, green tea and breakfast products, among others, is looking to expand its product portfolio and distribution footprints across the country. The Delhi-based company had reported a revenue of Rs 333.66 crore for the financial year that ended on March 31, 2023. The company gets nearly equal contributions from the B2B and B2C businesses. "There would be a substantial growth this year. We expect our B2C business and exports will grow. Besides, there is a unit in Dubai, UAE which is also rising very fast. We are looking to achieve Rs 500 crore by

Mandatory linking of e-invoice with e-way bill to cause disruption: Experts

Mandatory linking of e-invoice with e-way bill, applicable from March 1 for certain types of transactions, may cause disruption in operation and has created confusion among tax planners who are seeking clarification from the authorities, experts said on Sunday. The move was initiated after the mismatch in e-way bills and e-invoice statements was noticed in several cases, they said. "Blocking the generation of e-way bill without e-invoice/IRN details for B2B (business to business) and B2E transactions for e-invoice enabled taxpayers," said an advisory issued by the National Informatics Centre (NIC), which manages the indirect tax portal. Rajarshi Dasgupta, Head Tax at Aquilaw told PTI that the advisory on linking e-invoice with e-way bill will cause "technical difficulty in the hands of exporters having a turnover over Rs 5 crore as there is no time limit relaxation for the generation of e-invoice". "What would happen if there are multiple containers for a single consignment? How wi

Udaan said to be laying off 120 employees as it seeks profitability

The development comes at a time, when Udaan recently raised $340 million in Series E financing

India fourth in number of startups with over $50 mn funding: Scaleup Report

In the survey involving 12,400 startups, India is ranked fourth with 429 scaleups, after the US (7,184), China (1,491), and the UK (623)

Expect to hit full-year profitability in FY24: Practo CEO Shashank ND

The healthcare technology and services firm expects to grow at 100% y-o-y delivering about Rs 400 cr in revenue in FY24 and achieving positive cash flow and a full profitable year

Digital consulting firm KaarTech raises $30 mn in funding from A91 Partners

Chennai-based B2B company says it will use money to expand business in international markets

DealShare to invest Rs 1,000 cr in 5 yrs to help MSME partners scale biz

B2B e-commerce firm DealShare plans to invest Rs 1,000 crore over the next five years to help its MSME partners scale up their businesses, a senior company official said on Tuesday. The company plans to make investments mainly in six states -- Uttar Pradesh, Rajasthan, Haryana, Himachal Pradesh, Gujarat and Maharashtra. "Not only, we provide MSME partners support in terms of order volume, but also in research and development of their product. We will invest in the inventory that MSME partners will make. This will give them the confidence to increase capacity and invest back. Rs 1,000 crore will be spent within the next five years," Dealshare founder and CO-CEO Sourjyendu Medda said. DealShare's core e-commerce portfolio sources goods and products from more than 500 indigenous brands, accounting for nearly 70 per cent of its product offerings. The company supplies products to grocery stores in small towns and cities. When asked about the impact on a company's business with the mass

Infra.Market acquires majority stake in Strata Geosystems for Rs 910 cr

Infra.Market is a B2B marketplace for construction materials

IndiaMART net profit flat at Rs 56 cr in Q4; revenue rises 33% to Rs 269 cr

Online B2B marketplace and discovery platform IndiaMART InterMESH on Friday reported Rs 56 crore consolidated net profit for the March 2023 quarter. The company had posted a net profit of Rs 57 crore in the corresponding quarter a year ago, IndiaMART said in a statement. Its consolidated revenue from operations, however, grew 33 per cent to Rs 269 crore against Rs 201 crore in the year-ago quarter. The consolidated cash flow from operations stood at Rs 209 crore during the quarter under review, the company said. IndiaMART collected a total of Rs 418 crore from its customers during the fourth quarter of FY23, 31 per cent higher than Rs 318 crore mopped up in the same quarter of FY22. During the entire 2022-23, the company's net profit fell 5 per cent to Rs 284 crore compared to Rs 298 crore recorded in the preceding fiscal. However, the consolidated revenue from operations increased 31 per cent by Rs 985 crore in FY23 from Rs 753 crore in FY22. The cash flow generation rose 18 per

Udaan forms strategy to strengthen its staples business across Bharat

Following high growth, B2B e-commerce platform plans to double miller count in the next 12-15 months

B2B start-up ElasticRun takes a step back, to focus on core strategy

ElasticRun extends the reach of a brand's direct distribution network to deep rural markets

Now, a B2B platform trading in unlisted shares, ESOPs, AIF units for PE/VCs

System aims to bring all stakeholders under one roof to create a large pool of investors and deal makers; Intermediaries can do such deals faster and cheaper, using various tools almost free of cost

B2B could be India's top sector for venture debt funding in 2023: Report

71% of founders of early-stage companies plan to raise venture debt this year

B2B wholesale platform ApnaKlub raises $16 mn in Series A funding round

The funds will be used to enhance a digital platform for kirana store owners and wholesalers in tier-2 and tier-3 cities to purchase goods and service

Hyperpure: Zomato's B2B ace in the hole on the road to profitability

Although the adjusted EBITDA losses of the B2B business widened in Q2FY23, the company's head honchos believe the venture can become even larger than the food delivery business

Gatik's driverless B2B delivery service gains pace in US and Canada

The middle-mile segment, unlike long-haul transport or last-mile delivery to an end consumer, involves business-to-business (B2B) operations, mostly from a warehousing location to a retail centre

350 employees in Udaan to get pink slip in pursuit of profitability

India's largest business-to-business e-commerce firm sacked 180 employees in June

B2B unicorn Udaan fires around 350 employees on cost cutting measures

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 acquires B2B express business of Rivigo

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