Flipkart, Amazon may join ONDC🛍️, Uber bus service🚍, Volumes jump as crypto crashes💥

Flipkart, RIL, AMZN may join ONDC, Uber to focus on daily bus service, Volumes on crypto exchanges jump, Funding Deals & more.

May 12, 2022

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Flipkart, Reliance, and Amazon may join ONDC🛒

Ecommerce majors including Flipkart, Reliance Retail, and Amazon are in talks to join the country’s ambitious Open Network for Digital Commerce (ONDC), even as the network’s pilot program to onboard kiranas and small and medium businesses gets underway in Bengaluru and four other cities.

Flipkart’s logistics arm Ekart and Reliance Retail-backed Dunzo have already integrated with ONDC for logistics services while PhonePe, which is also owned by Flipkart and Walmart, is joining the network and is in advanced stages of integration.

Platforms like Paytm, and PhonePe are likely to offer real estate to ONDC on their platforms through which users can log into the network.

ONDC, which still is at a nascent stage, is being pitched as a solution to break the dominance of large e-commerce firms like Walmart-owned Flipkart, Amazon, and others in India.

Uber to focus on daily bus services, to hire 500 for tech centers🚌

Uber Technologies will focus on building the technology for targeting its next 100 million users globally and plans to hire 500 tech employees in its Bengaluru and Hyderabad centres to fuel that growth.

The company is running the Uber bus service for daily commute on a pilot basis in New Delhi and Cairo currently.

The San Francisco-headquartered company is also targeting corporate partnerships under the bus segment for transporting their employees to workplaces. The bus transport space is currently dominated by companies who offer only ticketing services for inter-city trips, especially in India, while there are no major tech players in the daily commute space.

SirionLabs, an AI-driven contract lifecycle management startup, raised $85 million in Series D funding round led by Partners Group.
GoKwik, an e-commerce enablement startup, secured $35 million in a Series B funding round led by Think Investments and RTP Global.
Human resource tech startup Hono has raised $5 million in a funding round led by Aakash Chaudhry, managing director of Aakash+Byju’s.
AssetPlus, a fintech startup, bagged $3.6 million in a funding round led by Bhupinder Singh of InCred and Nithin Kamath of Rainmatter.
Shopflo, a SaaS platform seeking to ease checkout experience for D2C brands, raised $2.6 million in its seed funding round from Tiger Global, TQ Ventures, and Better Capital.

Volumes on Indian crypto exchanges jump as bitcoin crashes📈

Trading volumes on Indian crypto exchanges rose after a dry spell as bitcoin, the world's most valuable crypto asset, slid by more than 56% from its all-time high in November 2021 to below $30,000 on May 9.

In India, crypto trading platforms WazirX, CoinDCX, and Unocoin experienced a bump in trading between 20-75%. The top 10 crypto assets by market cap are down 10-20% over the last seven days, according to data from Coinmarketcap.com.

Trading volumes on Indian crypto exchanges have dwindled ever since the new tax regime was introduced on April 1. But the last two days have been different. CoinDCX said its volumes doubled from May 9 to May 10.

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