LAST MILE NETWORK
ONDC to add banks, fintechs to take credit services to last mile
The homegrown Open Network for Digital Commerce (ONDC) will soon integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech companies like Fibe, sources told us. This comes as the network began early pilots for credit disbursal through its platform, by partnering with Tata Group superapp Tata Neu and Paisabazaar.
Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
Russia obliterates front-line Ukraine towns by retrofitting bombs and expanding its air base network
A devastating Russian bombing of Kharkiv's Epicenter store left 19 dead and unleashed shockwaves across Ukraine. Using retrofitted Soviet-era bombs, Russia's attacks have intensified, targeting cities like Avdiivka, Chasiv Yar, and Vovchansk. Investigators hope an unexploded bomb will trace the supply chain for these destructive weapons. Despite restrictions on hitting Russian airfields, Ukraine remains determined to defend its cities. Survivors, like salesperson Nina Korsunova, vow to stay in their hometowns, refusing to be driven away by terror.
Drone delivery startup Skye Air raises $4 million in funding
Skye Air, a drone delivery logistics solution provider, raised $4 million to expand its last-mile network in Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries.
Magenta Mobility joins hands with with Tata Motors, deploys 100 Ace EV
Magenta Mobility partners with Tata Motors to deploy over 100 Tata Ace EV units, including Ace EV and Ace EV 1000, as part of their MoU from October 2023. Maxson Lewis expresses excitement about their 'Ab Ki Baar Dus Hazaar' program aiming for 10,000 EVs by 2025. Vinay Pathak highlights the milestone in revolutionizing intra-city distribution.
ACT Fibernet invests in network solutions startup Aprecomm
ACT Fibernet is among India’s largest wired internet service providers, operating in 25 cities and serving 2.2 million customers. With this investment, the company aims to strengthen its ability to provide the best home Wi-Fi experience for its customers.
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ACT Fibernet makes strategic investment in Aprecomm's network intelligence solutions
Internet service provider ACT Fibernet (Atria Convergence Technologies Ltd.), Friday announced a major strategic investment in Aprecomm Private Limited (Aprecomm), a network intelligence solutions expert to fortify ACT's home Wi-Fi experience for customers.
Zypp Electric raises $15 million from Japanese firm Eneos for India expansion
Zypp Electric confirmed funding from Eneos as part of a larger $40 million round. Existing investors like 9unicorns and IAN also participated in the fundraising. The company's revenue increased threefold to Rs 325 crore in 2023-24.
The high price of slow lanes: How transport networks can make or mar the success of manufacturing hotspots
With India increasing the focus on exports, manufacturing hubs in the hinterlands have started playing a bigger role in powering the growth engine. However, these regions continue to face connectivity problems that make it difficult for traders to competitively price the goods in export markets.
Government push to help ONDC get shopfront on ecommerce sites
The Centre has asked Amazon and Flipkart to set up Open Network for Digital Commerce (ONDC) storefronts on their home pages to help the government-backed network scale up operations and assist with deliveries, said executives aware of the development. The aim is to boost operations and order efficiencies as well as iron out glitches and delays on ONDC, they said.
India’s road logistics network has the potential to be better than Europe’s: Kuehne+Nagel’s Hansjoerg Rodi
Although highly fragmented currently, Kuehne+Nagel’s Hansjoerg Rodi says the country shows enough promise to leapfrog its western counterparts in road logistics.
Pidge grows hybrid delivery partner network by 200% in two months
Since December 2023, Pidge has onboarded over 125 delivery partners.
We are strong in last mile, small ticket, digital. In affordable housing, we grew 61% in 9 months: Ajay Kanwal, Jana SFB
Ajay Kanwal says: "Our net NPA is 0.7 or 0.8 now. Gross NPA at 2%. So, asset quality is good. Growth rate is good. I think we will remain steady there which is our secured business will keep growing, that is rule number one. We will maintain good asset quality. We will maintain ROEs and ROAs. We are in a comfortable liquidity position."
NIIF to acquire Morgan Stanley-backed in-building connectivity firm iBus for Rs 1600 crore
NIIF is set to acquire a majority stake of 55-60% in iBus Networks, a leading provider of in-building wireless solutions in India, for Rs 1,600 crore ($200 million). The current minority stakeholder, Morgan Stanley India Infrastructure Fund, will retain its position, and the company's management will continue to run the business. iBus Networks offers in-building sharing (IBS) and last-mile connectivity solutions, serving clients such as Airtel, Jio, and Vodafone Idea.
The logistics of war: How Washington is preparing for a Chinese invasion of Taiwan
As worries about a Taiwan contingency rise, the U.S. military is addressing vulnerabilities, considering Australia as a secure location for equipment storage. However, critics argue that more urgency and funding are needed to enhance the dispersed logistics approach in the face of evolving geopolitical challenges.
How can the interim budget help plug holes in logistics network? Dr Sunil Kumar Sinha answers
India aims to become a major manufacturing hub, but high logistics costs hinder its integration into the global supply chain. The government's initiatives, including the national logistics policy and PM Gati Shakti, focus on improving logistics infrastructure. However, the challenge of last mile connectivity, both in urban and rural areas, remains unaddressed. The existing railway platforms and stations are not designed for seamless road-rail-road movement, particularly for small consignments
Kinetic Green to roll out e-Luna next month, bookings start on January 26
Kinetic Green plans to invest Rs 100 crore in developing the e-Luna, an electric two-wheeler set to be launched next month. Sulajja Firodia Motwani, the Founder and CEO of Kinetic Green, stated that the e-Luna will cater to the needs of passengers and last-mile delivery segments. The company aims to have 50,000-70,000 e-Luna units for the passenger B2C network and 20,000-30,000 units for last-mile delivery. Kinetic Green has 300 dealerships currently and plans to expand to 1,500 over the next three years. Additionally, a new production line with a capacity to assemble five lakh e-Luna units annually has been commissioned.
Anand Mahindra amazed as India overtakes China in road network, has a new year message for Nitin Gadkari
Business mogul Anand Mahindra expressed pleasant surprise that India has surpassed China in road network length, approaching the US. He praised Union Minister Nitin Gadkari's efforts. Netizens discussed the need for enhanced road infrastructure and applauded India's road network growth.
Xero EVs & VoltUp partner to deploy 15000 electric two-wheelers for last-mile deliveries
Under the partnership, the two companies will deploy electric vehicles for last-mile deliveries across 12 markets in the country. It is expected to lead to superior performance, reduced operational and kilometer cost, which improves the total cost of ownership (TCO).
Zypp Electric to deploy 500,000 e-scooters in India by FY27
We started Zypp Electric to reduce carbon emissions, especially in the last-mile delivery and mobility sectors, through electrification. It perfectly aligns with the Indian government's vision of achieving nationwide electrification by 2030 for a cleaner and sustainable future per the 13th Sustainable Development Goal (SDG).
Banking agents take credit and insurance offerings to last mile
As the country evolves from opening Jan Dhan accounts to selling more complex financial products to even the last-mile consumers, the agent network of BCs is emerging as the most suitable distribution channel.
Cabinet approves Rs 1.39 lakh cr for last mile BharatNet connectivity
The cabinet has approved a last-mile broadband connectivity plan under the BharatNet project for 6.4 lakh villages across the country with a financial outlay of Rs 1.39 lakh crore, a top government official said. The broadband connectivity project has already connected 1.94 lakh villages, with the rest likely to be completed in two and a half years.
Reshaping urban logistics with electric vehicles and last-mile solutions
To foster a sustainable future and mitigate the environmental impact of logistics, reshaping urban logistics with the adoption of electric vehicles (EVs) and innovative last-mile solutions is necessary. The use of EVs and other sustainable delivery alternatives not only reduces greenhouse gas emissions and operational costs but also provides better last-mile delivery efficiency.
Why, Maersk, a global shipping giant is getting into the last-mile delivery business in India
AP Moller-Maersk runs some of the largest container ships in the world. In June, the company announced it was entering the last-mile e-commerce logistics market in India. What does a global shipping giant hope to achieve by delivering parcels to places like Ratnagiri and Guwahati?
Yulu expands in Gurugram to enter last-mile delivery space
Gurugram is Yulu's fourth city after Bengaluru, Mumbai and Delhi, where it already operates a shared fleet of over 25,000 electric vehicles, the company said in a statement.
PolicyBoss closes series B funding round, seeks to deepen last-mile presence
The investors include India SME Investments and Madhav Mirani (ex Co-founder, Ugam Solutions), prominent angel investor Jitendra Gupta and existing investor Sanjay Thakker.
India Post signs MoU with Shiprocket to enhance last-mile e-commerce penetration
The partnership will provide last-mile connectivity to the e-commerce market player and will facilitate the penetration of e-commerce services beyond large cities and towns, Saahil Goel, cofounder & CEO of Shiprocket, said.
Amazon to integrate its last-mile delivery infra with ONDC
Amazon has over 11 lakh sellers with more than 50% from tier 2 cities. The company also plans to digitise one crore small businesses by 2025 and deliver across 100% of serviceable pin codes.
Going the electric extra mile: Delhi Metro’s last-mile connectivity
The construction of metro rails in response to growing cities has implications beyond physicality. They create an ecosystem with many positive externalities by means of the new interactions they foster and the connections they enable. The Delhi Metro has contributed to reducing road congestion, accidents, and vehicular and noise pollution.
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