A new player in the AI robotics sector has emerged with substantial financial backing, promising to revolutionize warehouse logistics. This innovative robotics company, specializing in warehouse automation, has secured $78 million across three funding rounds, including a significant Series B. While the company has not disclosed its valuation, the financial support underscores the growing interest…
A notable development in the logistics sector has emerged with the creation of a new logistics hub in Turkey, following regulatory approval from the Turkish Competition Authority. This newly formed entity, resulting from a merger, aims to meet the region’s increasing demand for advanced logistics solutions, enhance Turkey’s export and import volumes, create new industry…
A major player in the logistics industry has made a strategic move to enhance its global footprint through the acquisition of a leading freight forwarder. This acquisition is set to expand the company’s reach in key markets, including China, India, the US, and the GCC, while offering integrated logistics solutions in the UAE and leveraging…
The warehousing and logistics sector is experiencing a significant boom, driven by investments in construction projects nationwide. This surge is largely fueled by the expansion of e-commerce and improvements to infrastructure, including distribution centers, transit links, and last-mile facilities. The COVID-19 pandemic highlighted the critical need for robust logistics networks, leading to increased demand for…
A prominent logistics company has reported a 55% decline in standalone profit, amounting to ₹10.15 crore for the April-June 2024 quarter. This profit decrease reflects higher initial expenses, increased manpower costs, and elevated warehouse leasing fees. However, the firm’s revenue showed a robust 10% increase, climbing to ₹1,156.66 crore from ₹1,050.92 crore in the same…