Startups witness a shift in investment trends. Domestic investors, family offices, and public market investors like ValueQuest and Singularity Ventures actively back ventures. Investment landscape changes as global funds retreat, and founders turn to investment banks for funding.
Incorrect, incomplete, or ambiguous addresses are a huge drain on the countrys fast-growing e-commerce industry. While last-mile logistics companies have been using address-correction tools of some kind, the advent of generative AI can be a game-changer since it can reduce errors to a great extent.
While Khazanah led the round by investing Rs 350 crore, PE company OAKS put in the remaining Rs 60 crore. The round also saw early investors diluting their stake in the QSR chain.
New-age tech companies raised a total of $409 million in November across 63 rounds, according to data from market research firm Tracxn. Overall funding for the month was down 40% in terms of value compared to a year earlier, when startups raked in $682 million from 136 rounds.
“At ONDC, our vision is to create an open network that connects buyers, sellers, and intermediaries of all kinds with each other without any digital barriers, and logistics is most definitely a key component of this revolution. With XpressBees coming onboard, it will strengthen our logistics network, ultimately delivering a thriving ecommerce ecosystem,” said T Koshy, MD & CEO, ONDC.