Flipkart lines up Rs 3600 Cr🏬 | Zomato integrates Blinkit🍅 | Tata Neu to offer stock broking service📊
Flipkart lines up Rs 3600 Cr for 3 fulfillment centres, Zomato integrates Blinkit on main app, Tata Neu set to offer stock brokering services, Funding Deals and more.
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Flipkart lines up Rs 3,600 crore for three automated fulfillment centres🏬
Flipkart will invest over Rs 3,600 crore in the next three years to set up three new giant automated fulfilment centres. This includes one in Manesar which is under construction, and two new ones in the south and West Bengal, said Flipkart Group’s senior vice president and head of supply chain Hemant Badri.
The group has already set up one such big-box facility in West Bengal at Haringhata, which it claims is the largest such facility in Asia.
The Manesar one will be operational in 2024. Badri said these centres enable two times more storage space per square feet, are 30-50% more efficient with lower capital and operating costs, and help to reduce shipment times.
Talking about the upcoming festive season and Flipkart’s biggest discounting sale Big Billion Days (BBD), Badri said demand will revive and this year’s sale will be the best ever festive sale.
Zomato integrates grocery delivery via Blinkit on main app in pilot test🍅
Zomato has kicked off a pilot test of delivering groceries via Blinkit on its main app in Delhi-NCR, as the online food aggregator aims to "accelerate" the 10-minute delivery platform's Blinkit journey to profitability.
The pilot test is currently being organised in select circles in Delhi-NCR.
Currently, those part of the pilot project can order for a minimum order value of Rs 150 via Blinkit on Zomato's main app, while on Zomato, it remains Rs 49.
Tech integrations between the two companies will accelerate the pace of progress at both ends. According to the company, the losses for Blinkit are coming down every month -- from Rs 2,040 million (about $26 million) in January 2022 to Rs 929 million ($12 million) in July.
Oasis Fertility has raised $50 million in funding from private equity firm Kedaara Capital for a significant minority stake in the company.
Pune-based Vidcare Technologies has raised $300K in a pre-seed round led by Social Alpha, along with participation from Lavni Ventures and Derbi Foundation.
Harvesting Farmer Network (HFN), an agri-tech platform, raised $4 million from Social Capital.
Tata Neu set to take on Zerodha, Groww with stock brokering services📊
Diversifying its fintech offerings, Tata Group’s super app Tata Neu is likely to start offering competition to Zerodha, Upstox and Groww kind of stock broking services soon.
Tata Fintech, which appears to be a backend entity for the stock broking service, has also sought approval from the market regulator Securities and Exchange Board of India (SEBI). The entity applied for the stock broking license in the last week of June and currently shows “under process”.
Tata Fintech is a financial entity set up by Tata Digital in November 2021 and is being tasked with developing a digital financial services platform.
The addition of a stock broking service will make Tata Neu a more attractive proposition for users. The super app has been downloaded nearly 16 million times on Google’s Play Store.
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