FutureTech

The scale of Delhivery, Ecom Express, and Shadowfax demonstrates the exponential growth of e-commerce-focused logistics in the last decade. By outpacing BlueDart in terms of revenue in FY21, Delhivery became India’s largest supply-chain company. During the fiscal year ending March 2021, its operating income increased by 31% to Rs 3,646 crore. While Ecom Express has yet to file its annual financial statements for FY21, Shadowfax has shown strong growth, with operating revenue up 43.7 percent. The company’s revenue for FY21 was nearly Rs 464 crore, up from Rs 323 crore…

Chargebee, a subscription management platform based on software-as-a-service, announced on Tuesday that it had raised $250 million in a round led by Tiger Global Management and Sequoia Capital, bringing the company’s valuation to $3.5 billion. Existing investors such as Insight Partners, Sapphire, and Steadview Capital also participated in the round. Chargebee Technologies Pvt Ltd, the company that runs Chargebee, has raised $470 million in total. In April 2021, it raised $125 million at a valuation of $1.4 billion. The funds will be used for product innovation and global expansion, as…

Finance minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2022-23 on Tuesday. Here are some highlights from the world of technology and technology startups: According to Sitharaman, the government will establish a Digital University to provide online education in multiple languages. A web portal for skill development has been announced. Startups in the agricultural and rural sectors will benefit from a fund raised through NABARD. A battery swapping policy and interoperability standards will be implemented in order to set up charging stations at scale. Sitharaman stated that…

Loadshare, a Bengaluru-based logistics and supply chain startup, has raised $40 million in a Series C funding round led by US-based investment firm Tiger Global. The round was co-led by Filter Capital, 57 Stars, and previous investors CDC Group and Matrix Partners India. The company was founded in 2017 by Raghuram Talluri, Pramod Nair, and Rakib Ahmed. According to the statement, LoadShare’s mission is to solve its customers’ toughest logistics challenges by leveraging the power of small and medium logistics entrepreneurs. According to LoadShare, it provides a variety of services…

Scaler, a tech upskilling startup, has raised $55 millionin a Series B round led by new investor Lightrock India and two existing investors, Sequoia Capital India and Tiger Global, for a total valuation of $710 million. With this new round of funding, Scaler Academy’s total capital raised now stands at $76.5 million. In January 2020, Sequoia India and Tiger Global led a Series A round for the Bengaluru-based startup. According to a press release, the new funds will be used to fund international expansion plans, the launch of new products…

Ryan Breslow, a co-founder of Bolt Financial Inc., has announced his resignation as CEO, just two weeks after the company was valued at $11 billion. Breslow, who is 27 years old, will take over as executive chairman. Maju Kuruvilla, a 44-year-old Bolt executive who previously worked at Amazon.com Inc. as a vice president, will be promoted to CEO. The move was first reported by TechCrunch on Monday. Bolt develops payment software for online retailers such as Forever 21. It’s been around for seven years, but in the last few months,…

Athelas Inc., a remote patient monitoring technology company, has raised $132 million in new funding, bringing its total valuation to $1.5 billion. Athelas, which was founded in 2016, saw rapid growth last year, fueled in part by a shift to remote care during the Covid-19 pandemic. Tanay Tandon, co-founder and CEO of Athelas, said the company now has 20,000 patients, which is ten times the number it had at the start of 2021. “The pandemic really showed folks that health care in the home has to be a thing and…

FarEye, a global SaaS platform that transforms last-mile logistics, today announced a buyback for Employee Stock Ownership Plan (ESOP) holders valued at US$1.22 million. This is FarEye’s second liquidation programme, following a $739,000 liquidation of eligible ESOP options in December 2020. According to the company’s statement, the SaaS startup will use its cash reserves to buy back the vested ESOPs. FarEye launched a revised ESOP programme in 2021 with the goal of making it more employee-friendly and democratising ESOP grants to a large portion of its 700+ employees worldwide. FarEye…