Saturday, May 18, 2024
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Delhivery

The speculation came to light after the company announced to invest in the e-commerce SaaS (Software-as-a-Service) platform Vinculum.

Through this initiative, the two companies aim to build a complete integrated stack to address the entire range of post-purchase needs of a D2C brand

According to a report by the Economic Times (ET), the fund is aiming to close its final round at $1 billion

Abhik Kumar Mitra previously served as chief executive of Spoton and played an instrumental role in the strategic merger with Delhivery in August 2021

The VC firm has also reduced its stakes in other Indian startups amid regulatory and financial difficulties

The MoU between BLive and CBPL will target nationwide deployment of 10,000 2-wheeler EVs and 1000 3-wheeler EVs over the next three years

The visit is significant for SoftBank, which has been facing losses from its Vision Fund, and comes on the back of a series of stake offloads across listed firms

Prior to this, SoftBank offloaded shares worth $75 million in the initial public offer (IPO) of Delhivery, in March 2022

The shares were offloaded at an average price of Rs 335.06 per scrip, taking the aggregate deal value to Rs 414.23 crore

The funds will be deployed to broaden Crest’s product offerings and scale its operations