Founded in 2021 by Hassan Bouchiba (CEO), Mathias Corsia (CTO), and Antoine Plat (COO), the company builds 3D perception and navigation software for autonomous systems. Its Exwayz SLAM technology— a real-time mapping and localisation solution—works seamlessly with any LiDAR-enabled robot and delivers GPS-free, centimetre-level accuracy.

The startup has now secured €1 million in a funding round led by CentraleSupélec Venture, which also includes a grant from the France 2030 i-Lab Innovation Competition. The 21st deeptech accelerator at Station F, in partnership with CentraleSupélec, also supports Exwayz. The company has also earned recognition as one of the Future 40 startups at Station F (2023) and holds BPI Deeptech certification.

“Our mission is simple: to make 3D localisation accessible to every manufacturer of autonomous systems. We want to break the glass ceiling still limiting robotics today and unlock new applications in industry, mobility, logistics, and safety,” explains Hassan Bouchiba, cofounder and CEO of Exwayz.

In Switzerland, scale-up Embotech relies on Exwayz SLAM to guide fully autonomous trucks within ports and logistics hubs where GPS performance is weak. In 2026, the Port of Rotterdam will deploy 30 autonomous trucks powered by Embotech and Exwayz to enhance container handling operations.

Boston-based geospatial data company Cyvl.ai, which serves more than 200 municipalities, uses Exwayz SLAM to produce highly accurate 3D maps of road networks. This capability supports the mapping of tens of thousands of kilometres of roads each year, enabling predictive maintenance and modernisation of infrastructure.

The newly raised capital will help the company expand its engineering team—especially in algorithms, 3D vision, and data science—and, moreover, advance its SLAM capabilities. It will also accelerate industrial deployments and, furthermore, enable the company to scale commercial operations in robotics, mobility, logistics, and industrial inspection through strategic partnerships and global pilot projects.

“Exwayz provides precise LiDAR-based localisation and mapping capabilities that strengthen our autonomous solutions. Their consistent quality, steady feature improvements and collaborative approach make them a valued technology partner,” says Giorgio Corbellini, COO of Embotech.

Daniel Pelaez, CEO of Cyvl.ai, adds: “Here at Cyvl, we’ve partnered with Exwayz to help power our SLAM pipelines to deliver robust, large-scale, and highly accurate 3D point clouds that fuel our solutions for cities. Exwayz software is reliable, and their support is top-notch.”

In an official statement, Porter said, “We’re in the midst of a transition that required a one-time restructuring, aimed at building a stronger, more agile, and financially resilient organization for the road ahead. As part of this journey, we’ve had to make some difficult decisions that affect our people, choices that were not easy and were made after careful consideration.”

Reports from September suggested that Porter was in the final stages of securing $100–110 million in funding from both existing and new investors, which would raise the total capital invested in the company to $300–310 million as part of an extended round. Earlier in May, Porter had raised $200 million in a round led by Kedaara Capital and Wellington Management, valuing the company at $1.2 billion.

Founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, Porter offers intra-city logistics and courier services, including on-demand trucking, packing and moving, and enterprise logistics solutions.

In FY25, the company recorded a 57% rise in operating revenue to ₹4,306 crore and achieved profitability, posting a net profit of ₹55 crore compared to a loss of ₹96 crore in the previous fiscal year.

IndoSpace, which currently operates over 52 grade-A parks across 11 cities in India, will launch the Bhiwandi park in phases within this financial year. The facility will feature both ready-to-move-in spaces and build-to-suit (BTS) solutions, catering to diverse business needs across industries.

Anshuman Singh, managing director and chief executive officer, IndoSpace, said, “The launch of our Bhiwandi park highlights IndoSpace’s role in expanding India’s supply chain backbone. As the country experiences shifts in consumption, manufacturing, and global trade linkages, the availability of reliable logistics infrastructure becomes critical. Our approach is centred on building facilities that combine operational efficiency with long-term sustainability, aligning with the broader imperatives of India’s economic growth.”

With a development potential exceeding 1.7 million sq. ft., the Bhiwandi park will serve businesses in e-commerce, third-party logistics, FMCG, automotive, and electronics sectors. Designed with a strong focus on sustainability, IndoSpace Bhiwandi will feature green spaces and infrastructure built in line with ESG standards and certifications, ensuring both operational efficiency and environmental responsibility.

Bhiwandi, already a well-established warehousing hub in Maharashtra, benefits from excellent connectivity to Mumbai, Thane, and Pune. Its strategic importance has further increased with direct access to the Mumbai–Nagpur Samruddhi Expressway. The upcoming IndoSpace Bhiwandi park will enable businesses to cater to regional demand and streamline supply chain operations more efficiently.

Meanwhile, India’s warehousing and industrial park sector continues to experience strong growth. Data from Cushman & Wakefield shows that Mumbai led leasing activity in the first half of 2025 with 7.0 msf, contributing 23% of all-India leasing and marking a 131.3% year-on-year surge, driven by robust warehousing and industrial demand. At the national level, overall leasing reached 30.7 msf, reflecting a 21.6% Y-o-Y increase.

The topline growth, however, slowed compared to the 21% rise in FY24, after consistently delivering over 20% growth in the two years before.

The company’s earnings primarily come from marketplace services, logistics, and advertising. In FY25, ad revenue surged 27% to ₹6,317 crore from ₹4,973 crore in the previous year. Marketplace fee collections more than doubled to ₹7,751 crore, up from ₹3,734 crore in FY24. On the other hand, logistics income saw a sharp decline, dropping to ₹4,224 crore from ₹6,838 crore.

Total expenses increased 8% year-on-year to ₹22,311 crore in FY25. Employee benefit costs fell 8% to ₹4,748 crore, while marketing expenditure jumped 37% to ₹4,100 crore, making up nearly 18% of overall spending.

In July, the company completed a $50 million employee stock option (ESOP) buyback, benefiting around 7,000 staff members.

Flipkart, which is headquartered in India, is also in the process of shifting its holding entity from Singapore to India. The Walmart-owned e-commerce giant, valued at about $36 billion, is reportedly gearing up for an initial public offering (IPO) within the next 12–15 months.

This acquisition highlights Shadowfax’s strategic focus on enhancing its capabilities in the high-value logistics segment. Currently offering services like reverse logistics, same-day delivery, and 10-minute quick commerce solutions, Shadowfax plans to leverage CriticaLog’s expertise to expand its portfolio with tailored solutions for high-value items. Shadowfax’s extensive network covers 2,500 cities and over 18,000 pin codes across India.

CriticaLog, which supports over 400 organizations, including Fortune 500 companies, is well-regarded for its specialized handling of delicate goods such as electronics, pharmaceuticals, automobile spare parts, and jewellery.

“We are excited about the merger with Shadowfax. By leveraging their expansive reach and advanced technology capabilities, we can bring Criticalog’s premium logistics solutions to a wider customer base. This partnership will enable us to not only strengthen our existing relationships but also introduce our critical logistics services to a new and growing audience,” expressed Sujoy Guha, CEO of CriticaLog.

Abhishek Bansal, CEO and Co-founder of Shadowfax, described the acquisition as a step toward addressing logistical challenges in handling high-value shipments. “We are thrilled to welcome the exceptional team at CriticaLog into the Shadowfax family. Their expertise in managing high-value product movements with an industry-leading 0% loss rate is unparalleled. This move aligns perfectly with our mission to solve India’s most challenging last-mile problems today. With this acquisition, we are excited to expand our capabilities to deliver high-value items safely and reliably to more pin codes, benefiting our existing clients and opening new opportunities.”

CriticaLog’s investors also shared their thoughts on the acquisition. Charles-Antoine Gondrand, CEO of LoGon Investments, a key backer of CriticaLog since its founding in 2013, emphasized the potential synergies between the two companies. CriticaLog’s expertise and robust customer relationships, paired with Shadowfax’s advanced technological capabilities, are well-positioned to fuel future growth.

Managing over 2 million packages daily, Shadowfax aims to meet the rising demand for secure and reliable logistics solutions for high-value goods in India through this acquisition.

The deal expects to close after receiving regulatory approvals and meeting certain conditions outlined in the agreement.

According to PIF, this transaction will bolster the local information and communication technology (ICT) ecosystem, supporting the fund’s strategy in line with Saudi Arabia’s Vision 2030. The acquisition aims to leverage digital transformation to generate high-skill jobs, stimulate economic growth, and strengthen Elm’s leadership in the ICT sector. It will also drive innovation, promote the localization of technology and expertise, and expand Elm’s ability to offer a comprehensive range of ICT products, services, and solutions.

The statement said that the ICT sector is among PIF’s strategic priority investment sectors and is a key enabler of other key industries, including entertainment, financial services, healthcare, transport and logistics, utilities, and renewables.

“PIF is committed to enabling the creation of national champions who contribute to driving the development and growth of the Saudi economy. PIF’s sale of Thiqah to Elm will contribute to enhancing the vital role of the ICT sector and will strengthen efforts to localize technology and drive innovation,” Head of Technology and Media, MENA Investments, at PIF Shahd Attar said.

Elm CEO Mohammad Abdulaziz Alomair said, “This is an important transaction for Elm, as it enhances integration, rationalizes spending, increases profitability, and provides qualitative advantages for both parties and the market.”

“The combined integrated entity will be better able to create advanced national smart services to serve market requirements and clients’ needs. It will also contribute to facilitating innovative operations and capabilities to develop products in the business field with cost advantages while achieving economies of scale,” he added.

The acquisition of Thiqah by Elm marks a significant step in enhancing Saudi Arabia’s digital transformation goals as part of the Vision 2030 initiative. This strategic move will strengthen the local ICT ecosystem, foster innovation, and create high-skill job opportunities while positioning Elm as a key leader in the sector. By expanding its portfolio of smart technology solutions, Elm is well-poised to drive the continued growth of the ICT industry in Saudi Arabia, further contributing to the nation’s economic development and technological advancements.

“There has been an increasing penetration of consumption as well as supply, with brands emerging from both tier 2 and 3 cities,” Mohammed Ali, head of SME business at Delhivery, said. He added, “More people want to explore direct brand platforms instead of relying solely on horizontal marketplaces.”

Delhivery, primarily owned by foreign institutional investors (FIIs), leverages its proprietary technology to streamline logistics operations. Over one-third of its SMB business originates from smaller cities. According to Ali, cities like Vadodara, Raipur, and Thiruvananthapuram have experienced a 40% surge in e-commerce orders in 2024 within the direct-to-consumer (D2C) segment. Key categories driving this growth include groceries (39%), fashion (27%), and beauty and care (13%), as reflected in shipment data.

Cities were once content-selling raw materials and are now shifting to add value to realize better margins. “For instance, cities like Surat and Jaipur, which focused on raw material production, are now moving into manufacturing and design, while places like Varanasi are excelling in carpets and Tirupur in T-shirts,” Ali said.

Talent, though, remains a challenge in smaller cities. “Functions like digital marketing, supply chain optimization, packaging, and product design require specialized skills, often groomed in metros by larger companies,” Ali added. “Entrepreneurs are now figuring out how to train local talent or attract experienced professionals back to their hometowns.”

A joint report by market intelligence firm 1Lattice and VC firm Sorin Investments predicts that the D2C market will expand at a compound annual growth rate (CAGR) of 38%.

Delhivery is prioritizing faster logistics through the use of dark stores. Developed using shipment data, its AI-powered RTO (return to origin) predictor has decreased return risks by 25%. This tool enhances cash-on-delivery (CoD) operations by analyzing customer behavior, industry patterns, and product categories.

“The AI model can tell merchants whether the shipment has a 20% or 80% chance of return. This tech was traditionally available only to large businesses, but we’ve made it accessible to small brands, helping them reduce RTO rates significantly and bring down impact on their profit margins,” Ali said.

At the upper end of this range, BlackBuck’s parent, Zinka Logistics, expects to raise around Rs 1,114.7 crore through this book-building issue.

The IPO will include a fresh issue valued at Rs 550 crore, along with an offer for sale (OFS) of up to 20.6 million equity shares. Investors must bid on at least 54 shares, with bids increasing in multiples of 54.

Last month, BlackBuck received IPO approval from the Securities and Exchange Board of India (Sebi).

Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam plan to sell roughly 4.4 million shares. Investors Accel and Peak XV Partners, along with Flipkart, will also participate in the OFS. Flipkart, through Quickroutes International Private Limited in Singapore, will sell 5.5 million shares, while the World Bank-backed International Finance Corporation (IFC) will sell 2.3 million shares.

For FY24, BlackBuck’s revenue from operations increased by 68% year-on-year, reaching Rs 297 crore. Its net loss was reduced to Rs 167 crore, down from Rs 237 crore in the previous fiscal year.

The company successfully closed this fund on Monday, making it the most significant domestic fundraising in this sector. They secured capital from a wide range of investors, including around 800 high-net-worth individuals, family offices, and businesses.

This will significantly increase their portfolio, adding 8 million square feet of warehousing space for a total of around 18 million square feet. 

The new warehouses will focus on modern facilities, like those in cities for fast distribution, cold storage for perishable goods, agriculture logistics, and those near ports and airports.

Balkrishan Goenka, Chairman of Welspun World, said, “Our commitment to advancing critical logistics infrastructure is in perfect alignment with India’s strategic objective of reducing logistics costs from 14% to 8%, thereby enhancing the global competitiveness of our industries.” 

The fund aims to streamline logistics operations and stimulate industrial growth by making investments in essential infrastructure, he added.

Anshul Singhal, Managing Director, Welspun One, said, “Embarking on the exploration of new-age warehousing assets represents an exciting journey for us at Welspun One. Our progress has been remarkable, having successfully established a well-capitalised platform poised to achieve an AUM of over $1 billion.”

Welspun One completed fundraising for their first fund of ₹500 crore. That fund invested in six projects across five cities, totalling 7.2 million square feet of warehousing space. Half of these projects are already finished, with the remaining half on track for completion in the next 4-6 quarters. 

Their impressive client list for this fund includes big names like Tata Croma and Delhivery.

Welspun One is part of the larger Welspun World company, a global conglomerate worth $5 billion. Welspun World deals in various businesses, including pipes, home textiles, and flooring solutions.

BlackBuck’s IPO will consist of two parts. First, they will issue new shares worth Rs 550 crore. Second, existing shareholders will offer 21.6 million shares in an offer for sale (OFS).

Rajesh Yabaji, Chanakya Hridaya, and Rama Subramaniam, the company’s co-founders and promoters, will each offer a portion of their holdings for sale. Yabaji will sell 2.2 million shares, while Hridaya and Subramaniam will each sell 1.1 million shares.

Investors such as Accel, Tiger Global, and Peak XV Partners are all expected to participate in the offer for sale (OFS) by selling a part of their shares in the company.

Accel, the largest shareholder in the firm with a 14% stake, will sell 4.3 million shares and 923,282 shares through its two units in the OFS. Singapore-based Quickroutes International will sell 3.9 million shares, while World Bank-backed International Finance Corporation will sell 1.7 million shares and 628,315 shares through two entities. US-based Sands Capital will sell 1.3 million shares, 514,745 shares and 302,328 shares, respectively, through its three entities participating in the OFS. 

Several other venture capital firms besides Accel will also be participating in BlackBuck’s IPO by selling shares through the Offer for Sale (OFS). These include prominent names like Tiger Global Management (selling 883,322 shares), Peak XV Partners (selling 640,409 shares), and B Capital (selling 529,993 shares).

The funds raised through the IPO will be strategically allocated towards two key areas. First, BlackBuck plans to invest Rs 200 crore in sales and marketing initiatives to strengthen its market presence further. Second, they will dedicate Rs 140 crore to their non-banking financial company (NBFC) subsidiary, BlackBuck Finserve, to support its growth.

“The net proceeds invested into the NBFC subsidiary will be utilized by BFPL for financing the augmentation of its capital base to meet its future capital requirements,” said the draft red herring prospectus.

BlackBuck is experiencing significant growth, boasting a user base of 963,345 truck operators as of March 31, 2024. They also saw a notable increase in monthly active users on their BlackBuck app, with 597,638 registered transacting truck operators in 2023-24 compared to 458,025 the year before.

To capitalize on this growth, BlackBuck plans to allocate a portion of the IPO proceeds towards strategic investments. Rs 200 crore will be directed towards sales and marketing efforts, while Rs 75 crore will be invested in product development to enhance their offerings further. Additionally, Rs 140 crore will be dedicated to their NBFC subsidiary, BlackBuck Finserve.

BlackBuck’s financial performance also reflects their growth trajectory. Operating revenue for 2023-24 reached Rs 296 crore, up from Rs 175 crore in the previous year. While they still report a loss from continuing operations (Rs 166 crore in 2023-24 compared to Rs 236 crore the year before), the loss has narrowed.

The IPO will be managed by a consortium of book-running lead managers, including Axis Capital, Morgan Stanley, JM Financial, and IIFL Securities.