Page 4 - Logistics

Drone logistics solution provider Skye Air bags $4 mn in Series A funding

Skye Air, a drone logistics solution provider, on Monday said it has secured USD 4 million (about Rs 34 crore) funding, which will be used to expand the company's operations across Gurugram and other cities for healthcare, and quick-commerce deliveries. The Series A funding was achieved with backing from Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital. Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures and other existing investors, family offices and angels also participated in the funding round. "The fresh capital will help the company expand its last-mile network across Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries," said Ankit Kumar, Founder & CEO of Skye Air. He further said that with the Modi 3.0 government at the centre stage, the company envisages a plethora of growth coming in the Indian drone sector, which will make Bharat a global drone hub by 2030. Maple Capital ...

Delhivery partners SUGAR Cosmetics for pan-India B2B logistic operations

Logistics company Delhivery on Thursday announced a partnership with SUGAR Cosmetics, a home-grown beauty brand to spearhead its pan-India B2B logistic operations. The logistics company has been a long-standing partner for the brand's D2C express parcel shipping, Delhivery said in an exchange filing. Further, Delhivery said in the statement that its extensive networks, technology-driven solutions, and express Part Truck Load (PTL) services will ensure faster delivery of B2B consignments, allowing SUGAR Cosmetics to better serve their retail partners. Commenting on the partnership, SUGAR Cosmetics supply chain Vice President Amartya Guha said SUGAR Cosmetics is on a high growth trajectory and needs a logistics partner that comprehends the demands of the digital native generation. Varun Bakshi, Head of Delhivery's Express Part Truckload business, said that brands like SUGAR Cosmetics, which have an omnichannel strategy, heavily benefit from their express PTL service for quick stock .

Truck rentals remained flat in March 2024: Shriram Mobility Bulletin

According to industry sources, truck rentals were stable as corporates were seen rushing in March year-end to fulfil their targets

Indian commercial realty expands footprint, continues to defy global odds

Attracting investments from private equity firms even as the Western markets are witnessing a slowdown

DPIIT to engage with research firm to prepare logistics report for 3 yrs

The Department for Promotion of Industry and Internal Trade (DPIIT) is planning to engage a research firm to prepare the Logistics Ease Across Different States and Union Territories for the next three years. Every year, the department releases a Logistics Ease Across Different State (LEADS) report, ranking states and Union Territories (UTs) on the basis of their logistics ecosystem and highlights the key logistics-related challenges faced by stakeholders and includes suggestive recommendations. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. The DPIIT has floated a request for proposal for the appointment of consultant for ranking of states on the basis of their logistics efficiency (LEADS report for 2024, 2025, and 2026). "The DPIIT intends to engage a research organisation/consulting or market research firm/academic institution (Consultant) with experience in preparing national/international level reports bas

Magicpin launches delivery service to enter logistics aggregation segment

The platform is currently witnessing an average of 5,000 orders per day

CBIC issues circular to encourage women participation in logistics, trade

The Central Board of Indirect Taxes and Customs (CBIC) has asked field offices to support in upskilling women logistics service providers and custom brokers as well as for custodians of freight stations to ensure safe and secure working environment. The CBIC has issued two circulars coinciding with International Women's Day on March 8. One relates to encouraging women participation in international trade, while the other is on inclusion of gender specific infrastructure facilities to be provided by the custodians of Inland Container Depot (ICD), container freight station (CFS) and Air Freight Stations (AFS). "It has been decided that in addition the existing infrastructural facilities as provided by the custodian CFS/AFS/ICD -- following gender specific infrastructure facilities may also be encouraged for inclusiveness of women participation," it said. The CBIC said gender responsive infrastructure at the logistics facilities, including sufficient lighting, panic buttons, should be

TVS Supply Chain Solutions inaugurates warehousing facility in TN's Hosur

TVS Supply Chain Solutions Ltd on Thursday inaugurated an ultra-modern multi-client warehousing facility in Hosur, Tamil Nadu, as part of its expansion in the domestic market. The new warehouse offers value-added solutions like automation and data analytics to improve client productivity, the company said. The latest warehouse facility will provide more than 1,200 jobs, of which 300 will be women employees in various roles like kitting and binning, among others, it said. With the addition of this 6.50 lakh square feet of space, the company's total warehousing capacity has increased to 21.85 million sq ft from 21.2 million sq ft of space, TVS Supply Chain Solutions said. Globally, TVS Supply Chain Solutions operates around 300 strategically located warehouses across five continents, covering over 27 million sq ft of warehousing space. "We have strategically positioned our global parts distribution centre in this new facility, which will serve as a hub for our global market," K N ..

Viksit Bharat 2047: Northeast India as logistics gateway to Southeast Asia

The govt's focus on developing logistics infrastructure in the Northeast region (NER) marks a significant step towards unlocking the region's economic potential and promoting inclusive growth

Chimetech Holding divests 1% stake in Delhivery worth Rs 360 crore

Chimetech Holding on Friday divested 1 per cent stake in logistics and supply chain firm Delhivery for Rs 360 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Chimetech Holding Ltd sold more than 76.64 lakh shares, amounting to a 1.04 per cent stake in Delhivery. The shares were disposed of at an average price of Rs 470.01 apiece, taking the transaction value to Rs 360.25 crore. As of December 2023, Chimetech Holding Ltd owned 1.31 per cent shareholding in Delhivery. Details of the buyers could not be ascertained. The scrip of Delhivery declined 1.78 per cent to settle at Rs 464.70 apiece on the NSE. In another bulk deal on the NSE, Amansa Holdings offloaded shares of pharmaceutical company Suven Pharmaceuticals for Rs 215 crore through an open market transaction. Amansa Holdings sold 31.26 lakh shares of Suven Pharmaceuticals at an average price of Rs 689.19 apiece, taking the deal size to Rs 215.48 cror

Indian logistics market to grow at 8.8% annually to $484 bn by 2029: Report

Indian freight and logistics market is estimated to grow at 8.8 per cent annually to USD 484.43 billion by 2029 from USD 317.26 billion in 2024 due to technological advancement, as per a report released at logistic fair LogiMAT India. LogiMAT India 2024, the satellite show of Europe's biggest intralogistics exhibition LogiMAT Stuttgart, is organised by Messe Stuttgart India Pvt Ltd on February 28-March 1 at India Expo Mart. According to a statement, the integration of cutting-edge technologies and advancements in intralogistics, automation, warehousing, and transportation management heralds a transformative era for the logistics sector in India. Indian freight and logistics market is poised for remarkable growth. LogiMAT India 2024 projections indicate a surge in market size to USD 317.26 billion by 2024, with a projected CAGR of 8.83 per cent, catapulting it to USD 484.43 billion by 2029. This surge not only signifies robust economic expansion but also holds the promise of ...

Coal minister Joshi launches coal logistics policy for infra development

The coal ministry is building an AI-powered dedicated logistics platform for the fossil fuel which would integrate all the existing central and state-level coal transport tracking systems

Messe Stuttgart expects deals worth $500 million at LogiMAT India

Business deals worth USD 500 million (around Rs 4,148 crore) are expected to be sealed at the three-day international logistics fair international logistics fair, LogiMAT India 2024, which started on Wednesday, organiser Messe Stuttgart India said. The LogiMAT India, a satellite show of the globally renowned LogiMAT Stuttgart, is aimed at transforming the landscape of the Indian logistics industry, a statement said. A staggering USD 500 million deals or transactions are expected at LogiMAT India, showcasing the robust business environment and potential for growth within the logistics sector, the statement said. India's logistics sector, employing nearly 22 million people and valued at USD 215 billion, plays a crucial role in the nation's economy. Positioned strategically, the LogiMAT India aligns with initiatives such as the National Logistics Policy and GatiShakti, aiming to enhance efficiency and reduce logistics costs. By bringing together the industry under one roof, LogiMAT

Logistics firm Shadowfax raises $100 million in TPG-led funding round

The company declined to disclose the valuation at which it raised the funds. It was last valued at $632 million, as of April 2022, per data from investment tracker Tracxn

Warehousing & logistics sector resilient amid investment drought: Vestian

Vestian stated that the sector received investments worth $646 million in 2023, accounting for 15 per cent of the total institutional investment received in the real estate sector

Warehousing & Logistics leasing in 2023 exceeded pre-pandemic level by 15%

The data released by Vestian Research showed that the absorption has been on the rise since 2021 when it was 30.2 msf

Allcargo Logistics Q3 results: PAT down 88% at Rs 17 cr, revenue falls 22%

Allcargo Logistics Ltd on Tuesday reported an 88 per cent decline in consolidated Profit After Tax (PAT) to Rs 17 crore in the December quarter. The company had posted a consolidated PAT of Rs 146 crore in the year-ago period, Allcargo Logistics said. Revenue from operations in the third quarter of the ongoing fiscal fell 22 per cent to Rs 3,212 crore from Rs 4,127 crore a year ago, the company said. The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 111 crore during the quarter under review as against Rs 253 crore, registering a 56 per cent decline, it said. The company said it expects the global trade to revive in the second half of 2024. In the near term, Red Sea crisis has taken out some capacity from the market, leading to a balance against subdued demand, which should have marginal positive impact in the June quarter, Allcargo said. It also said the company has undertaken major cost reduction initiatives that will help signific

Logistics' cost structure biggest challenge for e-commerce: Flipkart CEO

E-commerce in India is at a nascent stage and cost structure of logistics is the biggest challenge for the segment, a top official of Flipkart said on Tuesday. Speaking at Walmart Growth Summit, Flipkart CEO Kalyan Krishnamurthy said the government has simplified taxation and adopted ease of doing business as a strategy, which is one of the factors driving growth of the e-commerce segment. "One of the biggest challenges for e-commerce alone to solve is the cost structure of logistics. India, in general is a low ticket price market. Whenever we are able to get to further (lower logistics) cost structure, is when we will be able to further increase the penetration in commerce," Krishnamurthy said. The e-commerce company has plans to transition its delivery fleet to electric vehicles by 2030. Krishnamurthy said the e-commerce penetration in India is around 7-8 per cent compared to retail but in some product categories like electronics, it is high. "Tax simplification used to be one o

Logistics firm V-Trans India Ltd targets Rs 3,000 cr turnover by 2026

Logistics firm V-Trans (India) on Thursday said it is targeting a turnover of Rs 3,000 crore by 2026. The company also said it had outlined a comprehensive strategy focusing on surface transport and leveraging technology for sustainable profitability. As part of the growth plan, the company said it will prioritize growth in its core competence area, surface transport, while also expanding its multimodal logistics operations, including air and road combinations. In the full truckload (FTL) segment V-Trans aims to capitalise on the USD 120 billion market and look to capture a more significant share by enhancing its presence in this lucrative segment, it said. Also, with 30 per cent of overall revenue coming from northern India, V-Trans will make substantial investments in expanding branches, warehouses, and infrastructure in this region, the company said, adding that it plans further expansions by opening new branches in tier 3 and 4 tier cities of eastern and western UP, Uttarakhand

Skye Air enters into partnership with SMILe to deliver shipments via drones

Logistics solution provider Skye Air on Wednesday said it has entered into a partnership with e-commerce enablement platform SMILe (Shree Maruti Integrated Logistics) for delivery of shipments via drones. The partnership is enable faster order fulfilment in urban areas with the help of Skye Air's autonomous logistics solutions, the company said in a statement. The introduction of drone delivery services will provide Shree Maruti sellers with the ability to offer same-day and next-day deliveries. Moreover, it will also revolutionise the entire delivery process, making it more efficient, eco-friendly, and customer-centric. "Skye Air is dedicated to revolutionising drone delivery and making it a mainstream logistics solution in India, and our collaboration with Shree Maruti is a significant step in that direction," Skye Air Co-Founder & CEO Ankit Kumar said. "With this partnership, we are redefining the future of e-commerce and providing our sellers with a competitive edge in the ...