Uber launches its B2B logistics service Uber Direct in India with ONDC integration, starting in Bengaluru with grocery deliveries for Zepto and KPN Farm Fresh
The Economic Times :
Bengaluru-based ShopOS, whose AI agents help automate content creation, marketing, and site management for e-commerce brands, raised $20M from 3State Ventures
The Flipkart co-founder is betting on a new AI-native OS for brands, built by his former team at Scapic and Flipkart Labs
Sources: BlackRock plans to hire ~1,200 people to build its AI teams in India and will inherit ~500 staff in Bengaluru through its proposed Preqin acquisition
Preeti Singh / Bloomberg :
Amazon to acquire Bengaluru-based BNPL startup Axio, sources say for $150M+; Axio raised $135M in equity, claims to have 10M+ customers, and a $260M+ loan book
At axio, we've been on a mission to make credit worthy for customers across India. Supriya Roy / Times of India : Amazon to acquire fintech startup Axio for about $160 million The Paypers : Amazon acq...
Sources: Reliance writes off its $200M investment in Bengaluru-based hyperlocal delivery startup Dunzo, as CEO Kabeer Biswas looks to sell Dunzo for $25M-$30M
SUMMARY — Dunzo cofounder and CEO Kabeer Biswas as per our sources is leading talks with high net worth individuals and family offices for an acquisition deal
Bengaluru-based Swiggy expands 10-minute food delivery service Bolt to 400+ Indian cities and towns, and says it has partnered with 40K+ restaurants, like KFC
Manish Singh / TechCrunch :
SentinelOne acquires Bengaluru-based cloud security provider PingSafe, sources say at a $100M+ valuation; PingSafe had raised ~$3.3M from Peak XV and others
Manish Singh / TechCrunch :
Bengaluru-based fintech Slice, which was valued at ~$1.5B in 2022, secures a rare approval from India's central bank to merge with North East Small Finance Bank
Manish Singh / TechCrunch :
Sources: Tata Group is close to an agreement to acquire Wistron's iPhone plant near Bengaluru as soon as August 2023; the deal is potentially valued at $600M+
Sankalp Phartiyal / Bloomberg :
Wistron plans to sell its iPhone assembly unit near Bengaluru to Tata Group and exit India due to its inability to get deeper into Apple's supply chain and more
The contract maker's inability to get deeper into Apple's supply chain, sale of China factory and challenges posed by local employment norms spurred its decision to leave.