Walmart’s Flipkart has backed Indian startup Shadowfax in a new $60 million financing round as the retail giant works to strengthen its logistics network in the nation.
Flipkart led the Series D financing round for the four-year-old Bangalore-based startup, Shadowfax co-founder and chief executive Abhishek Bansal told TechCrunch in an interview.
Existing investors Eight Roads Ventures, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Naver Fund and World Bank-backed IFC also participated in the round, which brings the startup’s total raise to date to $100 million.
The new round valued Shadowfax at about $250 million, two people familiar with the matter told TechCrunch. Flipkart alone contributed about $30 million to the round, they said. The startup declined to comment on the valuation and individual contribution of its investors.
Shadowfax operates an unusually built business-to-business logistics network in over 300 cities in India. The startup works with neighborhood stores to use their real estate to store inventory, and a large network of freelancers for the delivery.
“Anyone with a bicycle or a bike or a truck can join our platform and deliver items for us,” said Shadowfax’s Bansal. The startup, which has also set up its own warehouses and fulfillment hubs, currently processes over 10 million deliveries a month.
“So we have not built any assets on the ground. We are essentially bringing the inefficiency of the market on to the platform and catering large enterprises,” he said.
This logistics network handles goods in a range of categories including hot food, grocery, fashion, and e-commerce.
“It’s a very reliable logistics network. And each grocery store is only serving to users in a kilometer radius, so the delivery could be incredibly quick. These grocery stores, whose staff also participate in delivery, only have to work with us for a few hours in a day. It’s an easier way for them to make extra money,” he said. The platform has amassed more than 100,000 delivery partners.
Flipkart, which is one of Shadowfax’s “hundreds” of clients, said it will explore ways to strategically work more closely with the startup going forward. Flipkart chief executive Kalyan Krishnamurthy said Shadowfax will help the company “significantly reduce delivery time and provide superior customer experiences across product categories.”
He added, “by leveraging kirana stores and the deep delivery capabilities of Shadowfax and other Flipkart-led innovations, we are building a strong foundation to make inroads into a dynamic hyperlocal consumer market.”
Flipkart owns stake in a range of logistics firms including freight service operator Blackbuck, and parcel-delivery locker service QikPod. E-commerce firms across the globe are increasingly attempting to assume better control over their logistics. Chinese giant Alibaba said last month it was pumping an additional $3.3 billion into Cainiao, a logistics firm it co-founded. In recent years, it has increased its stake in other logistics firms including STO Express, ZTO, YTO and Best Logistics.
Logistics space is increasingly seeing more attraction in India as a new wave of startups attempt to address the inefficiencies in the sector that has long laggard the economy. In late October, Prosus Ventures led a $40 million round in logistics startup Elastic Run.
Like Shadowfax, Elastic Run is also tapping on the millions of mom and pop stores that dot large and small cities, towns and villages in India and have otherwise proven tough to beat for e-commerce giants and super-chain retailers.
Shadowfax’s Bansal said the startup will use the fresh capital to expand its network across India, especially in smaller cities and towns. The startup also aims to grow its team, tech infrastructure, and increase the number of clients it serves to handle more than 100 million shipments a month.
As Shadowfax’s network grows, the startup is already beginning to think of ways to expand its business. One of those things is just disrupting how fast an item could be delivered to a customer, which Bansal said could inform the startup to service more categories such as meat and perishables. “Currently, when customers purchase a smartphone from an online shopping website, the delivery takes a day or two. We can deliver it in an hour,” he said.
That’s music to Flipkart’s ears. Smartphones are some of the hottest selling items for the India’s largest e-commerce giant and it is also looking to enter the food retail business.
Ring Car Cam leaks: This could be Amazon’s Alexa dash-cam
Details and what appears to be an image of Ring’s upcoming Car Cam have leaked, with the connected dash cam expected to add security both when the vehicle is parked and while it’s on the move. The newest addition to Ring’s line-up was actually announced in September 2020 as part of Amazon’s big device launch, though at the time no pictures of the Car Cam hardware itself were shared.
Still, Ring’s description painted a fairly comprehensive picture of what it was intended to do. As well as tracking bumps and attempted break-ins, and notifying owners via the Ring smartphone app, it can also be used to record journeys and summon emergency services in the case of an accident being detected.
If you’re being pulled over by the police, meanwhile, saying “Alexa, I’m being pulled over” will automatically begin video and audio recording. At the same time as that’s being uploaded to the cloud, the system will send a notification to pre-selected family members to let them know the stop has taken place. Ring said there would be a physical privacy shutter, too, and a choice of WiFi or LTE connectivity. The whole thing would be $199.99, though cellular plans would be on top of that.
Since then, we’ve not heard anything more about the new dash camera. A leak on The Tape Drive, though, has revealed what it could look like, and it’s certainly an unusual design.
The camera assembly looks to be mounted on some sort of bracket, either to be positioned above the dashboard or potentially hung from above the rearview mirror. There’s presumably a fish-eye camera on both sides – only visible from one side in the render – to capture footage both inside and outside of the car.
As for functionality, ZatzNotFunny spotted a seemingly prematurely-published Ring Car Cam information document on the company’s support site. It reconfirms some of the details which Ring told us late last year, but also adds a few extra tidbits.
For example, the camera will connect via the vehicle’s data port, not just hook up to a USB or 12V outlet for power. “Ring Car Cam easily installs directly to the OBD-II port in your vehicle, located behind your steering wheel in most cars,” Ring explains. “It securely attaches to the windshield and dashboard of the car, and the cable can be neatly tucked away and out of sight.”
It’s unclear what extra data Ring might be gathering by using that approach. The OBD-II port typically grants access to various driving metrics, and though originally intended as a way for vehicle technicians to diagnose faults and issues in increasingly computerized models, has also gained traction as a way for third-party devices to tap that same stream of information. Amazon had also announced Ring Car Alarm, a cellularly-connected dongle that plugs into the ODB-II port.
The Ring Car Cam itself won’t require a subscription, though you won’t get all of the features in that case. “You can access video stored locally on the device via the Ring app when the car is within range of wifi,” the company explains. “With an optional Ring connectivity plan, you can access video from anywhere via LTE as well as advanced features like Emergency Crash Assist.”
The connectivity plan for Ring Car Cam will also unlock features like real-time tracking, to help locate a stolen vehicle.
What remains to be seen is how Ring Car Cam will fit into Ring’s existing sharing policies with police departments. The Amazon-owned company has found itself mired in controversy in recent years, after inking deals with law enforcement that saw many requests for footage from connected security cameras and video doorbells. Ring had been accused of fueling privacy infringement and supporting racial profiling.
Earlier this month, the company announced a new policy around sharing with public safety and law enforcement agencies. Moving forward, such agencies will ahem to request information or video from communities through a publicly-viewable category on Ring’s Neighbors app. This new section, “Request for Assistance,” will allow communities to see just what sort of data is being shared, Ring says.
“All Request for Assistance posts will be publicly viewable in the Neighbors feed, and logged on the agency’s public profile,” Ring explains. “This way, anyone interested in knowing more about how their police agency is using Request for Assistance posts can simply visit the agency’s profile and see the post history.”
YouTube on iOS PiP makes it much easier to watch videos while multitasking
YouTube is now rolling out the ability for all users to watch videos with picture-in-picture mode, which reduces the video players to a small floating screen on one’s phone or tablet. This feature won’t be limited to only premium customers as some had previously speculated, though those premium customers will get access to the PiP support first.
Android users have had access to YouTube’s picture-in-picture mode for a while; it has become increasingly useful as devices get larger, higher-resolution displays, leaving ample room for using more than one app at a time. With PiP, someone can watch a video in a small corner of their device’s display while doing something else, such as browsing social media, messaging, or playing games.
There have been concerns over recent months that YouTube wouldn’t only make its picture-in-picture mode available to paying Premium subscribers on iOS, but that’s not the case, according to confirmation given to MacRumors.
The feature is now rolling out to all iOS users in the United States, with Premium customers getting it first followed by free users ‘soon.’ Some iOS users have already had access to the YouTube picture-in-picture feature, though its availability has been touch and go with it working only sometimes.
The official support will eliminate the need to deal with difficult workarounds and buggy Safari streaming, though you may need to remain patient if you’re not a Premium user. The feature will be most useful on larger iPhone models where there’s enough screen space to watch a video in the mini player and engage in a second activity.
Researchers say they’ve found the ideal strategy to pay off student loans
When many people near college graduation, they begin to contemplate how they’ll deal with the student loans they’ve racked up over the past few years. The burden — which grows more substantial with every generation — can result in stress and, if not managed properly, may throw one’s life plans off track for several years. Mathematicians with the University of Colorado at Boulder may have a solution, explaining that they developed a mathematical model to explore the ideal repayment strategy.
Generally speaking, college graduates get a brief grace period after graduation during which time they aren’t required to make payments on their loans. Two different options are available once payments start: an income-based repayment strategy that involves paying a certain amount monthly based on one’s salary or simply throwing as much money at the loan as possible to pay it off in a shorter period of time.
In many cases, graduates are often advised to pay the loans off as quickly as possible if the funding amount is on the smaller side. On the flip side, graduates are typically told to take the income-based repayment option if they’ve taken out a substantial amount of funds in the form of student loans. The new study suggests a hybrid approach may be more ideal.
The mathematical model takes into account things like compounding interest rates, the income tax that may need to be paid, and more. The findings indicate that some graduates may benefit from a hybrid-style repayment approach that involves paying off as much as possible for the first several years, then switching over to an income-based repayment plan for the remainder of the balance.
The team of researchers hasn’t made their work available as a calculator for the public, but they do plan to improve it and potentially make it available to existing repayment calculators that may integrate the model. The ideal repayment method will ultimately depend on personal factors that must be accounted for, including things like anticipated salary and more.
Archaeologists recreated three common kinds of Paleolithic cave lighting
Enlarge / Spanish archaeologists recreated three common types of Paleolithic lighting systems. Medina-Alcaide et al, 2021, PLOS ONE In 1993,...
Toyota foils leakers by offering an official image of the 2022 Tundra
Earlier this week, leaked images were going around claiming to show the next generation 2022 Toyota Tundra. Automakers never like...
Ford to purchase Electriphi for integration with Ford Pro services for EV fleets
Ford has announced it will purchase Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles....
Two Viking burials, separated by an ocean, contain close kin
Ida Marie Odgaard AFP Roughly a thousand years ago, a young man in his early 20s met a violent end...
The efforts to make text-based AI less racist and terrible
Getty Images In July 2020, OpenAI launched GPT-3, an artificial intelligence language model that quickly stoked excitement about computers writing...
Social1 year ago
CrashPlan for Small Business Review
Gadgets3 years ago
A fictional Facebook Portal videochat with Mark Zuckerberg – TechCrunch
Mobile3 years ago
Memory raises $5M to bring AI to time tracking – TechCrunch
Social3 years ago
iPhone XS priciest yet in South Korea
Cars3 years ago
What’s the best cloud storage for you?
Security3 years ago
Google latest cloud to be Australian government certified
Cars3 years ago
SK Telecom and Samsung to collaborate on 5G for enterprise
Social3 years ago
Apple’s new iPad Pro aims to keep enterprise momentum