Scandron partners with CriticaLog India to provide dronebased logistics solutions across India

be hub-to-hub, would be used for both internal logistics and for third-party customer requirements.

According to Scandron, this marks a “first-of-its-kind” alliance in India, highlighting the importance of leveraging drone technology to meet the growing demand for critical and timesensitive logistics requirements in the B2B segment.

Scandron, a manufacturer of logistic drones in India, has partnered with CriticaLog India, a technology-driven logistics company, to provide drone-based logistics solutions across 160 cities in India. The partnership is expected to generate revenues of Rs 500-600 crore over the next two years.

The Indian drone market is witnessing a huge uptick and between August 2021 and February 2022, India recorded a 34.4% surge in the number of drone startups, taking the total to 221 startups.

Under this partnership, CriticaLog will handle all customer-facing operations and Scandron will manage all drone-related operations. Drone deliveries, which will essentially

India’s e-commerce logistics space to exceed 10 billion parcels by FY28, says Redseer

The overall e-commerce logistics market is expected to grow at a minimum CAGR of over 20% to comfortably exceed 10 billion parcels by FY28 on back of steady e-commerce growth, according to Redseer Strategy Consultants.

Indian e-logistics market continues to see meaningful growth in FY23. Total shipments (forward + reverse) for e-commerce logistics grew to over 4 billion in FY23 (except of hyperlocal shipments). Within this pie, in-house logistics vs third-party players had a roughly equal share.

During the year, the industry saw intensifying competitive trends from smaller incumbents with yields also being challenged.

D2C has emerged as a strong growth segment within e-commerce. D2C brands across channels are expected to grow overall GMV at 35% in next few years, with brand.com accounting for a significant share of this growth. A total of $33 billion of GMV is expected to be generated from D2C brands across all channels by CY27.

“We are excited to collaborate with CriticaLog India to bring drone-based logistics solutions to the B2B and hub-to-hub segment in India. Our range of CargoMax logistics drones combined with CriticaLog’s expertise in logistics will be a game-changer and create new opportunities for us to serve customers and provide innovative solutions to meet their delivery requirements,” said Arjun Naik, CEO, Scandron.

According to Redseer, logistics players with relevant and customized offerings for D2C brands are well positioned to capture market share in this high growth segment as well as have a stronger yield profile going forward.

Despite intensifying competition threats, Delhivery remains the clear market leader in FY23 within e-commerce 3PLs parcels, as per Redseer data. Further, its wide set of offerings for D2C brands along with fast-growing non-ecommerce business also makes it better insulated from the recent macro trends in the eCommerce space and a more resilient logistics business overall.

Bitget launches $100 million Web3 Fund to support crypto projects in Asia

Bitget, a top crypto derivatives and copy trading platform, launched its Bitget Web3 Fund during the Hong Kong Blockchain Week, with an initial investment of $100 million.

The fund will focus on investing in Web3-friendly venture capital and outstanding Web3 projects, with the goal of supporting the development of the next generation of crypto projects, the company said.

The Bitget exchange is adhering to a ‘Go beyond derivative’ strategy in 2023 with the launch of the Bitget Web3 Fund, which is intended to foster a positive attitude towards the digital