India Dealbook: DTDC Express picks 20% in Shipsy, Food-tech startup Petoo raises $1m

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Logistics firm DTDC Express has acquired 20 per cent stake in startup Shipsy for $1 million while food tech firm Petoo has raised around $1 million from VC firm Axilor.

DTDC Express picks up 20% stake in Shipsy for over $1m

Logistics firm DTDC Express has picked up 20 per cent stake in Gurgaon-based Llama Logisol Pvt Ltd, which owns and operates on-demand logistics service provider Shipsy, for over $1 million.

Last year, Shipsy, has raised an undisclosed amount from a group of angel investors led by Dheeraj Jain, partner at Redcliffe Capital, a UK-based hedge fund.

Shipsy plans to use the investment from DTDC to strengthen the core technology infrastructure and build on the solutions being offered, the company said, in a statement. “The association with DTDC would also ensure stability in revenues, with the company hoping to achieve breakeven within the next financial year,” it added.

The partnership will also give a strong entry point for Shipsy to partner with other leading companies in the supply chain spectrum.

Axilor Ventures invests $1m in food-tech startup Petoo

Early state venture capital firm Axilor Ventures has invested about $1 million in food-tech startup Petoo, according to a Times of India report.

Petoo plans to utilise this latest round of funding to develop backend operations, speed up food research and strengthen team structure.

Axilor Ventures is founded by former Infosys executives S D Sibulal and Kris Gopalakrishnan.

The company, which started operations last year, now serves Indian dishes in around 20 locations in Bengaluru. It earned about Rs 45 lakh ($67,500) per month.

Also Read:

India: On-demand logistics startup Shipsy raises angel round led by Dheeraj Jain of Redcliffe Capital

India Dealbook: EasyFix raises funds from Axilor; Shopclues co-founder invests in Wydr

 

 

 

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.