Korean e-commerce leader Coupang hires Alberto Fornaro as its new chief financial officer

Korean e-commerce giant Coupang has a new chief financial officer. The company announced today that it has hired Alberto Fornaro, who previously served the same role at International Gaming Technology (IGT PLC), the multinational gaming machine company. Fornaro succeeds Richard Song, who joined Coupang in 2011 and is retiring. Coupang is Korea’s largest e-commerce platform. […]

Omni storage & rentals fails, shutters, sells engineers to Coinbase

$35 million-funded Omni is packing up and shutting down after struggling to make the economics of equipment rentals and physical on-demand storage work out. It’s another victim of a venture capital-subsidized business offering a convenient service at an unsustainable price. The startup fought for a second wind after selling off its physical storage operations to […]

Route’s app auto-tracks all your packages, raises $12M

Between Amazon, FedEx, UPS and indie merchants, it’s easy to lose track of when your online purchases will be delivered. And if you’re buying something pricey or important, a lack of shipping insurance can leave you anxious and constantly checking your porch. But a fresh startup has found unprecedented growth by letting you monitor all […]

African logistics startup Lori Systems raises Series A led by Chinese investors

African on-demand trucking logistics company Lori Systems has raised a Series A round led by Chinese investors Hillhouse Capital and Crystal Stream Capital. Other participating investors included Nigeria and U.S.-based EchoVC, Flexport CEO Ryan Petersen and Nigerian founder Iyinoluwa Aboyeji. Lori Systems is not disclosing the amount of the Series A. DealStreet Asia reported the […]

Looking to become the central hub for logistics management, Shipwell raises $35 million

Shipwell, the software platform for managing trucking logistics, has raised $35 million and is expanding its suite of services to become a full-service hub for logistics management.  The new round led by Georgian Partners comes as the company has just expanded its suite of tracking and management tools to integrate with FedEx’s parcel shipping services. […]

Fabric raises $110 million Series B to expand its network of automated fulfillment centers in the US

Fabric, the startup that wants to make automated logistics available to retailers of all sizes, announced today it has raised $110 million in Series B funding. The round was led by Corner Ventures, with participation from Aleph, Canada Pension Plan Investment Board (CPPIB), Innovation Endeavors, La Maison, Playground Ventures and Temasek. This brings the total […]

Polte raises $12.5 million to track devices using LTE signal

Polte has raised another $12.5 million. The company is building a service that leverages 4G (and potentially 5G) signal to track things for commercial and industrial use cases. The main advantage is that using cellular signal uses a lot less battery than acquiring GPS location and transmitting it over cellular. Today’s funding round is an […]

Get guaranteed rent for your home from new startup Doorstead

Missing out on a month’s rent because you can’t find a tenant is a huge loss. Searching for someone to fill a home takes work, while property managers are incentivized to price your place too high leading to costly vacancies. But new startup Doorstead wants to take on the risk and the work for you. […]

Google-backed Dunzo raises $45M to expand its hyperlocal delivery startup in India

An Indian startup that is increasingly posing a threat to established food and grocery delivery businesses and e-commerce giants just closed a new financing round to expand its business in the nation. Bangalore-based Dunzo said today it has raised $45 million from Google, Lightbox Ventures, STIC Investment and STIC Ventures, and 3L Capital in a […]

India’s Udaan raises $585M to expand its B2B e-commerce platform

Udaan, a three-year-old business-to-business e-commerce platform in India, has raised more than half a billion dollars in a new financing round as it looks to bring more kirana stores, chemists and other small businesses online through its marketplace. The startup said today it has raised $585 million in a Series D round from Tencent, Altimeter, […]