Nine countries and counting: 4700BC
It’s been a good week so far.
Domestic indices continued their bull run as the S&P BSE Sensex gained 248 points while the Nifty 50 ended over 16,300 even as the rupee plunged to an all-time low of 80.05 to a US dollar.
But let’s not celebrate just yet as the world’s largest tech company may be feeling the heat…Apple is planning to slow hiring and spending, joining its Big Tech peers, reported Bloomberg, adding that while the changes may not affect the whole company, this sets a rather cautious tone for a company that has weathered past economic turmoil better than most.
Meanwhile, on this day, in 1969, mankind created history as American astronauts Neil Armstrong and Buzz Aldrin landed the Apple lunar module on the Moon.
“One small step for [a] man, one giant leap for mankind."
Nine countries and counting: 4700BC Popcorn
In India, popcorn is traditionally made using heated sand, but the snack has come a long way, becoming the default grub at multiplexes. As consumers began demanding premium snacking options, 4700BC was the first to fill the gap in India.
Offering gourmet popcorns priced between Rs 10 and Rs 1,000,expanded from a single store in the capital in 2013 to now having a presence in nine international markets.
According to Registrar of Companies (RoC) data accessed by YourStory, in FY19, 4700BC recorded total revenue of Rs 16.59 crore.
- In 2015, PVR bought 70 percent stake in 4700BC by investing around Rs 5 crore.
- Amid the pandemic, it forayed into the chips category with corn-based Chips+ and ready-to-eat corn.
- In FY22, it saw about 2.5X growth in revenues, 10 percent of which came from international sales.
“To build a brand, patience is the key and we are building for the long term,” says Chirag Gupta, Founder of 4700BC Popcorn.
Shiprocket acquires Omuni for Rs 200 crore
Logistics technology platform Shiprocket continues its string of acquisitions. On Tuesday, the company announced it has acquired Omuni, textile manufacturer Arvind Internet's omnichannel technology business, to facilitate quick and efficient deliveries of shipments from the nearest store or warehouse.
Founded in 2014, Omuni is an omnichannel retail enablement platform for brands and retailers.
As per the agreement, the omnichannel technology division will be transferred to Arvind Internet Ltd (AIL), a wholly-owned subsidiary of Arvind Ltd, for a total consideration of Rs 152.30 crore. The entire shareholding of the company in AIL shall be transferred to BigFoot Retail Solutions Pvt Ltd (Shiprocket) for a consideration of Rs 162.90 crore.
The transaction will be carried out as a combination of stock and cash for total consideration of Rs 200 crore.
- The acquisition comes a month after the Zomato-backed startup acquired a majority stake in logistics firm Pickrr for $200 million.
- In January 2022, Shiprocket announced acquiring a 75 percent stake in customer data platform Wigzo Tech, and also the acquisition of business-to-business (B2B) logistics aggregator platform Rocketbox.
- Last year, Shiprocket raised $185 million in a Series E funding round co-led by Zomato and Singapore's sovereign wealth fund, Temasek.
#YourIsraelGuy solving India’s tech needs
Saket Agarwal, also known as #YourIsraelGuy, is the go-to person for Indian startups looking for Israel-made solutions in cloud, data, and security.
A chartered accountant (CA) by qualification, he is the founder of Mumbai-based startup Onnivation, which acts as a bridge between Indian consumer tech companies and Israeli startups looking to work together.
“The Indian startup ecosystem is very strong when it comes to consumers. On the other hand, Israel is strong with its SaaS business around data, security, and personalisation,” says Saket.
- In 2021, Israel had more than 2,000 startups in the sectors covering Enterprise, IT & Data, and Security Technologies, both of which raised more than 15.1 billion in investments.
- Besides cloud services, helps companies solve some of the biggest problems Indian startups face—DevOps, data science, security, and quality assurance, among others.
- Onnivation is currently partnered with over 15 Israel-based startups, including Spot.io, Granulate.io, Drata, MessageBird, Rivery, and Coralogix., and runs their sales by acting as their distributor partner in India.