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<ul class="summary-list"><li>A US Air Force B-2 stealth bomber dropped new anti-ship munitions to help sink a decommissioned warship.</li><li>The exercise involving the munitions, known as QUICKSINK, took place last week in the Pacific.</li></ul>A US Air Force B-2 Spirit stealth bomber used a new anti-ship munition to sink a decommissioned warship during a series of recent live-fire drills with partner forces in the Pacific Ocean, the US Navy said this week.The US military earlier this month held <a target="_blank" class="" href="https://www.dvidshub.net/news/476788/us-and-partner-nations-conduct-multiple-sinkexs-part-rimpac-2024">two sinking exercises</a>, known as SINKEXs, off the coast of Hawaii to practice targeting vessels at sea and train on different weapons systems.The B-2 aircraft released an experimental weapon called QUICKSINK during the second of the two drills, which took place on Friday and involved the decommissioned amphibious assault ship USS Tarawa.The bomber "proved a low-cost, air-delivered method for defeating surface vessels through a QUICKSINK demonstration, as part of the second SINKEX," the Navy's Third Fleet said in a statement Monday.The QUICKSINK experiment, which is funded by the Office of the Under Secretary of Defense for Research and Engineering, "aims to provide options to neutralize surface maritime threats while demonstrating the inherent flexibility of the joint force," the fleet said.<div type="image" title="A US F-15E Strike Eagle with modified 2,000-pound munitions as part of the second test in the QUICKSINK Joint Capability Technology Demonstration on April 28, 2022." height="3200" width="4800" msid="111997222" hostid="261" sizebytes="1432140"></div>"This capability is an answer to an urgent need to quickly neutralize maritime threats over massive expanses of ocean around the world at minimal costs," it added.The <a target="_blank" class="" href="https://afresearchlab.com/technology/quicksink/">QUICKSINK experimental weapon</a>, which was first tested several years ago, essentially pairs existing Joint Direct Attack Munition guidance kits with new seeker technology that allows the munition to home in on a stationary or moving target at sea with precision.Such a weapon would give the US and partner forces more strike options in the maritime domain, especially in a fight in the Pacific where combat might take place across large stretches of open ocean. Over the years, the various elements of the US armed forces have been pursuing more and more anti-ship capabilities."Torpedoes, such as the heavyweight MK-48, are still the primary method used to sink enemy ships," the Air Force Research Laboratory has said of this type of combat, but "new methods explored through QUICKSINK may be able to achieve the same kind of anti-ship lethality with air-launched weapons, including modified 2,000-pound class precision-guided bombs."That opens the doors to bomber aircraft and other platforms that might prove less vulnerable than submarines and possibly more effective."A Navy submarine has the ability to launch and destroy a ship with a single torpedo at any time, but by launching that weapon, it gives away its location and becomes a target," the Air Force said.The service added that QUICKSINK "aims to develop a low-cost method of achieving torpedo-like seaworthy kills from the air at a much higher pace and over a much larger area than covered by a lumbering submarine."In addition to B-2s dropping QUICKSINK bombs, a US Navy F/A-18F Super Hornet used a Long-Range Anti-Ship Missile, or LRASM, to help sink the Tarawa. This relatively new weapon is a "precise, stealthy, and survivable cruise missile" that is capable of offensive anti-surface warfare, Third Fleet said.The first SINKEX event, which involved the sinking of the decommissioned amphibious transport dock USS Dubuque, took place on July 11. Both the Tarawa and the Dubuque were sunk in 15,000-foot-deep water dozens of miles off the coast of Hawaii.The SINKEXs included American, South Korean, Dutch, Australian, and Malaysian forces and were held during the Exercise Rim of the Pacific 2024, the world's largest international maritime exercise.<div type="image" title="Royal Netherlands Navy De Zeven Provinciën-class frigate HNLMS Tromp fires a Harpoon missile during a long-planned live-fire sinking exercise as part of Exercise Rim of the Pacific (RIMPAC) 2024." height="2153" width="3230" msid="111997220" hostid="261" sizebytes="296910"></div>"Sinking exercises give us a chance to sharpen our skills, learn from one another, and get real-world experience," said US Navy Vice Adm. John Wade, the RIMPAC 2024 Combined Task Force Commander."Using advanced weapons and seeing the professionalism of our teams during these drills shows our commitment to keeping the Indo-Pacific region safe and open," he added.

A US Air Force B-2 stealth bomber helped sink an old warship in the Pacific with new anti-ship QUICKSINK bombs

Food and grocery delivery behemoth <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> declared its <keyword id="23466580" type="General" weightage="20" keywordseo="Q2FY25-results" source="keywords">Q2FY25 results</keyword> today. The company's revenue from operations stood at Rs 4,799 crore, up from Rs 2,848 crore from the year-ago period. Zomato's GOV (gross order value) for its B2C business was at Rs 17,670 crore, a 55% YoY growth. On a like-for-like basis, i.e., excluding the impact of the acquisition of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s ticketing business, the GOV growth stood at 53% YoY. However, the company's <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> skyrocketed, jumping by 389% YoY. For the quarter ended September 30, 2024, Zomato's net profit stood at Rs 176 crore, significantly up from the Rs 36 crore level in the year-ago period. Ahead of the IPO of rival food and grocery delivery competitor <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword>, Zomato's board also approved the raising of Rs 8,500 crore through qualified institutional placement of equity shares. “While the business is now generating cash (vis-à-vis a loss-making business at the time of the IPO), we believe that we need to enhance our cash balance given the competitive landscape and the much larger scale of our business today,” said the company, explaining the fundraise. Additionally, in a letter to shareholders, Founder and CEO <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword> shared that the "District" app, a new platform aimed at consolidating going-out services such as dining, movies, sports ticketing, live performances, shopping, and staycations, is expected to go live within the next month. "At this point, we are focused on making sure we do a good job at migrating the business from the Zomato and Paytm platforms to the new District app," Goyal added. During the reported quarter, Zomato made many notable acquisitions, which include Orbgen Technologies Private Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL). These were the holding companies of Paytm's' movie ticketing' business and events business, respectively. In the letter to shareholders, the company's Chief Financial Officer, Akshant Goyal, shared that its cash balance had reduced by Rs 1,726 crore as compared to the previous quarter, mainly on account of the deal consideration of Rs 2,014 crore for the acquisition of Paytm's entertainment ticketing business.". <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords">Blinkit</keyword>, Zomato's quick commerce business, saw a 129% year-on-year growth in adjusted revenues, which touched Rs 1,156 crore. Blinkit's gross order value (GOV) also saw a 122% year-on-year increase to Rs 6,132 crore. Blinkit saw massive improvements on almost all operational metrics. The average order value jumped from Rs 607 in the year-ago period to Rs 660 in Q2 FY25. The average GOV per day per store also inched up from 757 in Q2FY24 to 981 in Q2FY25. Similarly, orders also skyrocketed from 45.5 million in the year-ago period to 92.9 million for the quarter ended September 30, 2024. As for Zomato's <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> business, the average monthly transacting users also inched up from 18.4 million in Q2 FY24 to 20.7 million in Q2 FY25. The results did not do much to move Zomato's stock on the bourses, which fell by 3.44% during the day to close at Rs 256.55.

Zomato's net profit jumps 389% YoY, board approves Rs 8,500 crore fund-raise proposal

<ul><li>The Indian <keyword id="10600982" type="General" weightage="50" keywordseo="B2B-SaaS" source="Orion">B2B SaaS</keyword> industry continues to have a bullish outlook for 2023 despite global headwinds. </li><li>Four out of 10 Indian B2B SaaS CXOs are targeting over 100% ARR growth. </li><li>The majority of such companies are from AI, HCM, Fintech and CRM/CDP SaaS segments.</li></ul>Unmoved by recessionary trends of the past year, the Indian B2B SaaS industry continues to have a bullish outlook for 2023, says a report by Ernst &amp; Young in partnership with Upekkha Value SaaS Accelerator. It states that Indian SaaS growth is highly capital-efficient by default, across stages. Eight out of 10 Indian <keyword id="6756963" type="General" weightage="100" keywordseo="SaaS-companies" source="Orion">SaaS companies</keyword> have a burn multiple of under 1.5x. Globally, a burn multiple of less than 2-3x is a good state for growth stage — companies with $1 million to $100 million Annual Recurring Revenue (ARR). “Indian B2B SaaS is about 2x capital efficient compared to its global counterparts. This places them well, when the capital ask shifts from ‘growth at all costs’ to ‘profitable growth’,” says Kamalanand Nithianandan, partner, Business Consulting, EY India. The growth outlook is balanced by financial and operational prudence, reflecting strong focus on building and scaling capital efficient businesses, says the report titled ‘Bellwethers of Indian SaaS’. <cmsannotation type="cmsannotation" annotationid="Targeting ultra &amp; hyper growth" comment="subhead2" text="Targeting ultra &amp; hyper growth">Targeting ultra &amp; hyper growth</cmsannotation> Insights from the survey reveal that four out of 10 Indian B2B SaaS CXOs are targeting over 100% ARR growth (ultra-growth). A majority, eight out of 10 CXOs, are targeting above 50% ARR growth (hyper-growth) in 2023, as per the survey conducted by EY India and Upekkha. The majority of companies tagreting ultra-growth are from AI, HCM (human capital management) fintech, customer resource management (CRM) and customer data platform (CDP) segments. The funding scenario for Indian SaaS companies is also expected to remain bullish. The report highlights that with expected economic recovery in the second half of 2023 and availability of dry powder within the SaaS focused Indian VC/PE ecosystem, funding activity is expected to gain traction. “This presents an opportunity for Indian SaaS companies with demonstrated profitability to raise capital at favourable terms and double down on growth,” the report says. Alternative funding instruments, such as convertible notes, were emphasized against the backdrop of access to equity funding due to rising inflation rates. According to the report, 60% of company CXOs reported product innovation, pricing changes and partner-led expansion as their top strategic priorities. Top challenge inhibiting growth was ‘delay in customer closure cycle’ for 51% CXOs, whereas sales inefficiency came next for over 41% CXOs. Hiring and retention continue to be a key challenge, but CXOs also emphasize on adopting reskilling and training strategies to mitigate the talent shortage risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/vr-app-allows-users-to-revisit-memories-previously-recorded-on-their-smartphones/articleshow/98275527.cms">This app is straight out of Black Mirror — it lets you capture and revisit memories in virtual reality</a>

Indian B2B SaaS companies are 2x more capital efficient than global peers: EY report

<ul class="summary-list"><li>The US Air Force just released more photos of the B-21 Raider, its newest stealth bomber.</li><li>The long-range aircraft is working through flight testing in California. </li></ul>The US Air Force on Wednesday published more photos of its newest stealth bomber, the B-21 Raider, as the penetrating strike aircraft continues to work through flight testing.The photos, captured in January and April, show the sleek-looking new bomber in the middle of its testing — consisting of ground testing, taxiing, and flight operations — at California's Edwards Air Force Base. The new images come as the long-range aircraft inches closer to entering service later this decade.Assistant Secretary of the Air Force for Acquisition, Technology, and Logistics Andrew Hunter said earlier this month that the B-21's flight test program is "proceeding well" and is on schedule to meet timelines and delivery schedules."It is doing what flight test programs are designed to do, which is helping us learn about the unique characteristics of this platform, but in a very, very effective way," Hunter said during testimony to the Senate Armed Services Committee on May 8.<div type="image" title="A B-21 Raider conducts flight tests, which includes ground testing, taxiing, and flying operations, at Edwards Air Force Base, California." height="5398" width="8192" msid="110343253" hostid="261" sizebytes="1223600"></div>The B-21 is the US military's first strategic bomber in more than 30 years. Development began in 2015, and the Pentagon<a target="_blank" href="https://www.businessinsider.com/photos-of-us-air-force-new-bomber-b-21-raider-2022-12"> unveiled the Raider</a> to the public in December 2022. Nearly a year later, in November 2023, the aircraft finally embarked on its<a target="_blank" href="https://www.businessinsider.com/first-flight-b-21-raider-us-new-stealth-bomber-2023-11"> much-anticipated first flight</a>. Following the success of ground and flight tests, it was cleared to enter<a target="_blank" href="https://www.businessinsider.com/us-military-approved-production-stealth-bomber-b-21-first-flight-2024-1"> low-rate initial production</a>.The US Air Force Rapid Capabilities Office manages the acquisition program with a strategy of building test bombers "as production-representative as possible," the 412th Test Wing said in a Wednesday<a target="_blank" href="https://www.edwards.af.mil/News/Article-View/Article/3784504/b-21-raider-continues-flight-test-production/"> statement</a>."Rather than a traditional flight prototype approach, B-21 test aircraft are built including mission systems using the same manufacturing processes and tooling for production aircraft," the Wing said, adding that "this approach in development laid the groundwork for production to start more quickly."The B-21 is expected to enter service in the latter half of the decade. The military has a goal of producing at least 100 of these aircraft. The Raider, US officials say, is slated to incrementally replace the B-1B Lancer and B-2 Spirit bombers.<div type="image" title="The B-21 Raider program at Northrop Grumman's manufacturing facility on Edwards Air Force Base, California." height="1438" width="2200" msid="110343254" hostid="261" sizebytes="86640"></div>Pentagon leadership has stressed that the B-21 will form the "backbone" of America's future bomber fleet. Secretary of Defense Lloyd Austin has praised the aircraft's stealth capabilities, saying that decades of advances in low-observable technology have gone into the bomber's development."Even the most sophisticated air-defense systems will struggle to detect a B-21 in the sky," Austin <a target="_blank" href="https://www.defense.gov/News/News-Stories/Article/Article/3235326/world-gets-first-look-at-b-21-raider/">said</a> at the aircraft's unveiling.Northrop Grumman, which manufactures the bomber, has touted the plane as the "world's first sixth-generation aircraft." It can be armed with standoff and direct-attack munitions and will be able to conduct both conventional and nuclear strikes.

New pictures of the US Air Force's newest stealth bomber — the B-21 Raider — just dropped as flight testing continues 

<ul><li>Tiger Global has invested in three B2B ecommerce platforms <keyword id="8032183" type="General" weightage="20" keywordseo="infra-market" source="Orion">Infra.Market</keyword>, <keyword id="3119222" type="General" weightage="20" keywordseo="moglix" source="Orion">Moglix</keyword> and <keyword id="3259676" type="General" weightage="20" keywordseo="Ofbusiness" source="Orion">OfBusiness</keyword> this year.</li><li>The three players compete with each other in this sub segment of B2B, but the intricacies of their businesses are quite different.</li><li>OfBusiness is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits.</li></ul>OfBusiness, which allows businesses to purchase bulk orders from sellers online, has doubled its valuation to $3 billion in a $207 million fresh funding round led by Tiger Global. The company was valued at $1.5 billion in July, when it raised $160 million from SoftBank, Falcon Edge and Matrix Partners. Softbank, along with Falcon Edge-managed Alpha Wave Incubation, also participated in the latest round with an infusion of $43 million. New York-based Tiger Global — which is also an investor in other business-to-business (B2B) marketplaces Infra.Market and Moglix — has infused $150 million in the New Delhi-based startup. It is likely to infuse another $15-20 million in the coming round. This is the third major funding round closed by OfBusiness this year. In April this year, the company <a href="https://www.businessinsider.in/business/startups/news/sme-financing-platform-ofbusiness-raises-110-million-from-falcon-edge-capital-valuation-hits-800-million/articleshow/81962626.cms">had raised $110 million</a> led by Falcon Edge Capital at a valuation of $800 million. Interestingly, this is also the third unicorn investment made by Tiger Global in the B2B ecommerce space. Infra.Market, Moglix and OfBusiness are competitors in this sub segment of B2B, but the intricacies of their businesses are quite different. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Focus area </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infra.Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OfBusiness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing and infrastructure development material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moglix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial and home products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.33 billion </td></tr></tbody><tbody></tbody></table> The nearly $3 billion worth <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword>, too, is a <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms">prominent player </a>in the B2B ecommerce space. It helps small businesses to procure products — across categories like electronics, home and kitchen, staples, fruit and vegetables, and more — at lower prices. <keyword id="7466761" type="General" weightage="20" keywordseo="zetwerk" source="Orion">Zetwerk</keyword> — valued at $1.33 billion — entered the unicorn club this year, when it raised $150 million in a round led by D1 Capital. It focuses on online sale of manufacturing material. What is OfBusiness up to? Founded by Asish Mohapatra, Bhuvan Gupta, Vasant Sridhar, Ruchi Kalra and Nitin Jain in 2015, the New Delhi-based startup is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits. It has a separate entity, NBFC Oxyzo Financial Services, to offer financing solutions to SMEs. This entity has a loan book of $240 million, with 5,000 borrowers to the list. The company claims to be at an annual revenue run-rate of $1.4 billion. It further plans to increase this with expansion of its operations and acquisition of other businesses, Mohapatra <a href="https://economictimes.indiatimes.com/tech/funding/ofbusiness-valuation-doubles-to-3-billion-after-tiger-global-led-funding/articleshow/86645251.cms">told</a> The Economic Times. It claims to be underway to close several such acquisitions. The company competes with platforms like Moglix, Infra.Market, Zetwerks and others on the B2B ecommerce business fronts. In SME lending, it is competing with other platforms like BharatPe, LendingKart, Aye Finance and many others. OfBusiness, along with its B2B ecommerce rivals mentioned above, are among the 28 startups that entered the unicorn club this year, with a valuation of over $1 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms" data-type="tilCustomLink">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms" data-type="tilCustomLink">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">4-year old Ola Electric is now worth over a half of its older sibling Ola</a>

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

<ul><li>The B2B e-commerce platform has raised $250 million in a series F round of funding led by <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Alpha Wave Global and <keyword id="4786885" type="General" weightage="20" keywordseo="ward-ferry" source="Orion">Ward Ferry</keyword>.</li><li>The e-commerce platform is now valued at $2.6 billion after the latest funding round.</li><li>Overall, the company has raised over $650 million to date.</li></ul><keyword id="3119222" type="General" weightage="20" keywordseo="Moglix" source="Orion">Moglix</keyword>, a Noida-based business to business (B2B) e-commerce platform, has raised $250 million in a new round of funding led by Tiger Global, Alpha Wave Global with Hong Kong-based Ward Ferry coming onboard as a new investor. The e-commerce platform is now valued at $2.6 billion after the latest funding round. The company also claims that undisclosed seed investors have seen a return of 80 times on their investment in this B2B commerce player. Notably, the company had raised its seed round in 2015-2016 from investment firm Accel, industrialist <keyword id="6360722" type="General" weightage="20" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> and others. Overall, the company has raised over $650 million to date. It is also backed by various other marquee global investors such as Sequoia, Accel Partners, International Finance Corporation, Harvard Management Company, and others. Rahul Garg, founder and chief executive officer (CEO) said, “We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector. Moglix will increasingly focus on growth driven by supply chain financing, acquisition of the right partners and global expansion.” In May 2021, the company also became the first B2B commerce unicorn in the manufacturing sector after raising $120 million. A unicorn, in startup parlance, is a private company that is valued at or over $1 billion. Moglix, founded by Indian Institutes of Technology (IIT) Kanpur and Indian School of Business (ISB) graduate Rahul Garg in 2015, is an e-commerce platform, which provides solutions to more than 500,000 small and medium enterprises (SMEs) and over 1000 large manufacturers across India and the UAE. It has a supply chain network of over 16,000 suppliers and over 40 warehouses. The company, which also recently crossed $100 million disbursal rate on its supply chain financing platform Credlix, works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-indian-government-can-help-zomato-swiggy-uber-and-ola-can-increase-salary-of-delivery-partners-and-drivers/articleshow/89180404.cms">There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/reports-of-covid-19-variant-neocov-are-spreading-heres-what-we-know-so-far/articleshow/89180852.cms">Reports of COVID-19 variant ‘NeoCov’ are spreading – Here’s what we know so far</a>

Moglix more than doubles its valuation in nine months

The app economy has inspired an ‘on-demand’ self-service culture among all kinds of consumers. The <keyword id="5948524" type="General" weightage="20" keywordseo="B2B-sector" source="Orion">B2B sector</keyword> is no exception and brands are responding to the changing customer demands through Direct-to-consumer models. The way brands connect and engage with their customers has changed significantly in the last two years. The digital-first era is transforming conventional buying patterns and behaviours. Customers across segments – whether it’s B2B or B2C – are expecting digital-first, personal and connected experiences as they consume products and services. As a part of this shift, digital commerce or e-commerce has been sweeping the B2B segment lately. According to a McKinsey report, nearly two-thirds of B2B companies across industry sectors now offer e-commerce capabilities. That is an extraordinary number for an industry which has preferred in-person sales so far. This was an inevitable change. But, something more interesting is happening to the B2B space – the emergence of the <keyword id="4055555" type="General" weightage="20" keywordseo="D2C" source="Orion">D2C</keyword> or direct-to-consumer model. What was once considered an exclusive domain for B2C brands is now helping B2B companies explore new possibilities. Key drivers The global pandemic was vital for the growth of the direct-to-customer approach in the B2B segment. It propelled a rapid shift to the digital way of working and compelled companies to launch apps &amp; services at lightning speed. This marked a stark change in what was perceived by buyers as “good enough”. B2B buyers are therefore taking on the habits of B2C buyers, which has shaken some legacy business models and thought processes. A study conducted by TrustRadius in 2021 found that millennials comprise 60% of today’s B2B technology buyers. This generational shift has already moved the needle for B2B e-commerce with a 200% growth in D2C purchases between 2019 and 2020 (source: Salesforce). Adobe CEO Shantanu Narayen emphasized, saying “making the digital economy personal” is a matter of greatest importance to businesses. Adoption of D2C models is helping businesses get this ‘experience’ part right, experts argue. Adoption of digital sales channels have helped brands enhance customer relationships, reach out to more customers and improve the overall competitive advantage. For the successful implementation of D2C models, brands must focus on three key areas Become data-driven: B2B brands understand the power of data in creating compelling D2C models. Throughout the digital buying cycle, data must be leveraged to create a compelling experience for corporate buyers. But brands are grappling with the challenge of fragmented data sets, legacy technologies and siloed approaches in this journey. Moreover, gaining customer insights become a challenge as B2B companies have historically preferred indirect sales channels which distanced them for end-users. The D2C space is highly competitive and brands must focus on data and customer insights for decision-making. B2C brands can learn a thing or two from their B2C counterparts on how to be data-driven. Predictive analytics, AI/ML and customer insights solutions can help brands understand customer behaviour, brand perception and create a 360 degree view of the buyers. Take it personal: Personalized experience has become a universal ask. Successful brands have excelled in gathering customer insights and transforming them into personalized interactions and service offerings. Buyers want real-time responses and digital experiences while brands must also focus on providing this at scale. Metaverse has already shown that the lines between physical and virtual words are blurring. The app economy has inspired an ‘on-demand’ self-service culture and B2B brands must prepare to cater to the growing customer demand through D2C models. Website personalization, short buying cycles, proactivity and the ability to provide a connected experience are a few things that brands must prioritize. Leverage Tech: From AI-powered live search to product recommendation engine to digital signatures, technology is the backbone of building a D2C strategy. Digital experience platforms are growing in popularity among brands that strive to provide a cohesive CX (customer experience). Experts recommend taking a ‘composable’ and software-driven approach while building an ecommerce platform and the underlying tech stack to be able to evolve as you move along. Increasingly, brands are embracing a tech-first, digital-native model of being. D2C strategies will help them pivot to the future more quickly. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/stock-market/news/lic-stocks-if-you-want-to-predict-this-stock-prices-look-how-the-stock-market-moves/articleshow/92040939.cms">If you want to predict LIC stock prices, look how the stock market moves</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/auto/news/tata-motors-bags-indias-biggest-ev-fleet-order-from-cab-company-blusmart/articleshow/92035478.cms">Tata Motors bags India’s biggest EV fleet order from cab company BluSmart</a>

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