India’s biggest quick egrocer 🛒, Chalo acquires Vogo 🛵, Shopee exits India 🛍
Reliance aims to become India’s biggest quick egrocer, Chalo acquires scooter rental startup Vogo, Shopee exits India, Funding Deals & more.
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Reliance aims to become India’s biggest quick egrocer🛒
The war for quick grocery delivery is set to intensify with Reliance Retail’s JioMart ready to enter the space.
The company will start trials in Navi Mumbai in the next few days for 'JioMart Express', through which it will deliver around 2,000 different products in a few hours.
Reliance plans to offer quick grocery delivery in over 200 cities and towns where JioMart currently operates by the end of next quarter. It plans to double this number in the next few months and become India's largest quick egrocer.
JioMart Express will also use Dunzo in markets where it is strong, like the metros. Earlier this year, Reliance had led a $240 million funding round in quick commerce firm Dunzo and has a 26% stake in it.
Chalo makes second acquisition with scooter rental startup Vogo🛵
Chalo Mobility Services, which owns a mobile app that helps users track buses across cities and book tickets online, has acquired two-wheeler shared-mobility startup Vogo, in a consolidation move.
Chalo said Vogo would add to Chalo’s bus technology services by offering first- and last-mile rides at major bus stops and other public places.
As a part of this acquisition, Vogo is switching to electric vehicles across its fleet and will expand beyond two-wheelers and offer other types of EVs to suit market needs, the company said.
Chalo has a presence in 37 cities across 13 Indian states including Maharashtra, Delhi, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Uttar Pradesh, Bihar and Assam.
Chalo had announced a $40 million funding round in October 2021, after which it said it had acquired office commute bus aggregator Shuttl.
Spacetech startup Pixxel, which provides Earth imaging technology has raised $25 million in a new funding round led by Toronto-based Radical Ventures. This is India’s largest fundraise by a space technology company to date.
Wealth management platform IndMoney has raised an additional $11 million as a part of its ongoing funding round, led by Singapore-based Sixteenth Street Capital with participation from Peyush Bansal & Ankur Warikoo.
Ahmedabad-based edtech company Saarthi Pedagogy has raised Rs 16 crore in a funding round led by Pinnacle Investments.
FairPlum, which operates food brands, has raised $2 million in a round led by Unicorn India Ventures.
Singapore’s ecommerce major Shopee suddenly decides to exit India🛍
Shopee, the e-commerce arm of Southeast Asia's Sea, said is closing down its India operations "in view of global market uncertainties”.
The Singapore-headquartered technology group launched in India in October 2021 as part of an international push that saw it expand into Europe.
The retrenchment comes weeks after Shopee announced it was pulling out of France and after India banned Sea's popular gaming app "Free Fire".
After the ban, the market value of the New York-listed Southeast Asian firm dropped by $16 billion in a single day, leading some investors to cut its holdings.
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