A startup that is helping over 125,000 neighborhood stores in India secure working capital, inventory from top brands, and work with e-commerce firms to boost revenues said on Thursday it has raised a new financing round as it looks to further its reach in the world’s second largest internet market.
Pune-based ElasticRun said it has raised $75 million in its Series D financing round co-led by existing investors Avataar Ventures and Prosus Ventures. Existing investor Kalaari Capital also participated in the round, which takes the four-year-old startup’s to-date raise to $130.5 million.
Millions of neighborhood stores that dot large and small cities, towns and villages in India and have proven tough to beat for e-commerce giants and super-chain retailers are at the center of a new play in the country.
A score of e-commerce companies, offline retail chains and fintech startups are now racing to work with these mom and pop stores as they look to tap a massive untapped opportunity.
ElasticRun helps merchants operating these stores, who typically have to spend a few days a month visiting bigger cities to secure inventory, get reliable and more affordable goods directly from big brands. (Big brands love this because this enables them to significantly expand their reach.)
These store owners also spend a number of hours a day not doing much when the business is slow. ElasticRun is also addressing this by partnering with some of the biggest e-commerce firms including Amazon and Flipkart to utilize this workforce to make deliveries to customers. (E-commerce firms find value in this because neighborhood stores have a larger presence in the country, can reach a customer much faster, and also often have their own inventory.)
Ashutosh Sharma, Head of Investments for India at Prosus Ventures, told TechCrunch that ElasticRun has built a variable capacity, crowdsourced delivery model, which distinguishes the startup from other players in the market that have a fixed number of people on payrolls making these deliveries. He said as the startup has developed the railroads, a number of new opportunities has unlocked.
One such opportunity is providing working capital to these neighborhood stores. Their operators typically don’t have savings, and need to sell the existing inventory to secure funds to refill the stock. In recent years, ElasticRun has struck partnerships with banks and NBFCs to provide credit to these merchants.
ElasticRun today operates in over 300 cities in nearly all Indian states. The startup works with over 125,000 neighborhood stores, and plans to expand to reach 1 million in 18 to 24 months, said Shitiz Bansal, co-founder and chief technology officer of ElasticRun, in an interview with TechCrunch.
The startup’s current run rate is about $350 million, a figure it plans to grow to over $1 billion in the next 12 months, he said.
Saurabh Nigam, co-founder and chief operating officer, said the new financing round has also enabled the startup to offer early employees access to “tangible benefits” of the firm’s growth over the last five years.
Majic Wheels Corp Announces the Appointment of New CEO & Director David Chong and the Application to OTCIQ
Austin, Texas, May 12, 2021 – OTC PR WIRE – Majic Wheels Corp. (OTC Pink: MJWL) (“Majic” or the “Company”) a Delaware corporation, intends to position itself as a player in the disruptive industries of and Fintech and software development by means of an acquisition and merger is pleased to announce the following updates:
Majic Wheels, Corp. is proud to announce the addition of David Chong as Chief Operating Officer and Director of the Board.
“This appointment provides the Company access to Mr. Chong’s dynamic knowledge in business development and Fintech background, a strategic step for the Company “, stated former CEO, Kim Halvorson and Current Director for the company. “He is an established proven leader and has expertise in early-stage growth companies in emerging industries; and will no doubt be a huge asset for us”.
Shaw Cheng “David” Chong has over 30 years working experience in medium and large private and publicly listed manufacturing companies. Familiar with navigating China, US, Europe, Singapore and other capital markets, his expertise includes international financial management, operations, auditing, funding, business development, internal control maintenance, corporate governance and investor relations. He has qualifications in professional accountancy studies from ACCA (the Association of Chartered Certified Accountants). Mr. Chong was the Financial Controller for Amtek Engineering Ltd. in China From 2007 to 2010 he was Strategic Advisor to Nasdaq China Recycling Energy Corporation, and later in 2010 he became CREG’s Investor Relationship Director prior to assuming the role of Chief Financial Officer from 2011 to 2015, and reverting to Strategic Advisor until May 2016. From May 2015 to March 2019, Mr. Chong served as the Managing Director (Asia) of Hover Energy LLC, and concurrently from March 2016 to December 2016, he acted as Treasurer and Interim President of Nutrastar International. Mr. Chong became board advisor to NexG Ptd Ltd. in November 2016 and was subsequently appointed as Chief Financial Officer of NexG in January 2017 until April 2018, and Chief Financial Officer of Qourier from April 2018 to December 2019. Mr Chong was Strategic Advisor to Viagoo Pte Ltd from January 2020 to June 2020 and was appointed to OTC Muliang Viagoo Technology, Inc as Chief Financial Officer from June 2020.
“I am excited to join the company as I am very passionate about the strategic marriage of the financial industry and software technology, which can generate disruptive growth in an emerging marketplace,” commented David Chong, newly appointed CEO.
In addition, the Company has submitted the OTCIQ application, retained a new experienced public company team of service providers to bring positive changes to OTC Markets compliance and shareholder transparency which will increase it’s value to the shareholders.
About Majic Corp, Inc.
Majic Corp Inc., a Delaware corporation, intends to position itself as a player in the disruptive industries of and Fintech and software development by means of an acquisition and merger. Majic Wheels Corp. is listed and traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol “MJWL”.
For more information about the Company visit:
Our OTC Markets Profile: https://www.otcmarkets.com/stock/mjwl/overview
Our website is: https://majiccorp.co/
Our Twitter account is: https://twitter.com/MajicCorp
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Majic Wheels Corp.
FOR MORE INFORMATION, PLEASE CONTACT:
YEP Announces Kevin Harrington and Steve Mandell Appointed to Advisory Board
Leawood, Kansas, May 12, 2021 – OTC PR WIRE — YEP, Inc., (“YEP”), an innovative sales and marketing company, announced today the appointment of Kevin Harrington and Steve Mandell to its Advisory Board.
Kevin Harrington was the original “Shark” of Shark Tank, the creator of the infomercial as well as the “As Seen On TV” brand. Working behind the scenes in a variety of business ventures, he has produced more than $5 Billion in global sales, launched more than 500 products, and made dozens of millionaires.
Mr. Harrington stated, “I believe that entrepreneurs are the backbone to innovation. New technologies drive the way we live, eat, and exist as humans, and some of the world’s greatest achievements come from entrepreneurs who have a vision and a dream. Building a business can often times be challenging. YEP is a place to bring these innovations to life by providing the support that entrepreneurs need for growth.”
Steve Mandell, an innovative entrepreneur, is the CEO of Gameplan Enterprises and has 30 years of experience in negotiating top tier agreements in sports, media, business, licensing and brand development. He has procured and negotiated several TV shows and has a full-service digital design firm and podcast network.
Mr. Mandell said, “I am excited about the growth potential for YEP especially the exclusive agreements for the distribution of CBD products, the FDA approved skin protectants, and the Flux Hydration System. With the experienced management team leading the effort and the opportunities worldwide, I expect successful and rapid growth.”
Jimmy Ezzell, Chairman and CEO of YEP, stated, “We are very excited about Kevin and Steve joining our Advisory Board. Their respective experiences, relationships and the energy they bring to YEP are tremendously valuable.”
About YEP, Inc.
YEP is a sales and marketing company with proprietary products and services, selling through affiliate marketing, direct sales, wholesale and direct channels. Our affiliate members use our fully integrated and proprietary online platform to grow and track all aspects of their businesses and to select from several tiers of access to our subscription-based platform. The platform provides our members with: training for social media marketing and content development; lead generation, sales and customer retention; and business strategy, business management, customer support and specialized growth tools. We are an engaged online community of like-minded entrepreneurs and business owners working together, supporting each other, and learning from each other. Please see www.yeptribe.com, www.drinkflux.com, and www.axiom8.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, product market trends, variations in the company’s cash flow, market acceptance risks, technical development risks, seasonality and other risk factors.
For inquiries, please contact C. J. Floyd, CFO, at (941) 928 – 2019 or firstname.lastname@example.org
Online Grocery Delivery Marketplace, GoCart.city, Rolls out Saturday Delivery across Toronto and The Greater Toronto Area
Toronto, Ontario, May 12, 2021 – OTC PR WIRE – Two Hands Corporation, (OTC Pink: TWOH) Gocart.city division, announced today the launch of its Saturday delivery service allowing GoCart.city’s broad selection of fresh groceries, pantry staples, and household essentials to be delivered directly from their warehouse to the customer’s door, six days of the week.
“We’ve had an overwhelming number of requests to offer Saturday delivery, especially during the lockdown and we are more than happy to oblige our customers.” says Nadia Bashir, Director of Marketing at Gocart.city. “We want to reach customers when they want to shop. With this new offering, we’re making it possible for customers to access GoCart.city delivery windows that are most convenient to them.”
Toronto’s residents have been in lockdown since November. In January, GoCart.city expanded its delivery areas to help serve communities that were unable to receive grocery delivery. In addition to their current delivery areas: Toronto, Mississauga, Etobicoke, Oakville, Burlington, Brampton, Georgetown, Milton, Guelph, Markham, Richmond Hill, the new delivery boundaries covers further west towards London and Niagara Falls, east towards Peterborough, and north towards Vaughan, Maple, Woodbridge, and Muskoka.
Consumers in Ontario can shop GoCart.city’s wide selection of items including fresh and high quality produce, meat, frozen goods, bakery and pastry, gluten-free organic items, and much more at www.gocart.city or using the GoCart.cityAndroid / iOS app. The online grocery retailer offers quick delivery, free shipping over $25, and great prices on everyday items with no price markups or hidden fees.
Gocart.city, a division of Two Hands Corp. (OTC Pink: TWOH) is an online grocery delivery market that services the Greater Toronto Area and beyond. They curate and deliver the freshest produce and speciality foods in Southern Ontario. To learn more about Gocart.city, please visit www.gocart.city.
About Two Hands Corporation
Two Hands Corporation is a custom application development company with proven numerous technological competencies in digital technologies. The company delivers diversified and top-quality solutions to companies in North America. Please visit our website at www.twohandsgroup.com
This press release contains forward-looking statements that involve a number of risks and uncertainties. Any statement not regarding a historical fact is a forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the company’s ability to finance its planned expansion efforts; the company’s ability to raise funds on acceptable terms; the company’s ability to successfully adapt its business model and such other risks disclosed from time to time in the company’s reports filed with the securities and exchange commission including those on the company’s annual report on Form 10-K. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management’s expectations, except as required by law.
NSAV ANNOUNCES LAUNCH OF VIRTUABROKER’S PROPRIETARY CRYPTOCURRENCY PRICE SEARCH FEATURE
London, England, May 12, 2021 – OTC PR WIRE.- Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency, blockchain and digital asset technology company, today announced that its prized holding, VirtuaBroker, has launched its revolutionary Cryptocurrency Price Search feature, which is one of the basic building blocks of its advanced automated trading non-custodial platform. The Platform’s users can utilize a simple interface to select which exchanges they want to connect to their dashboard and connect them so that real time price and transaction information is viewed.
VirtuaBroker’s proprietary High-Performance Computing (HPC) system allows real time transactions to occur with all connected exchanges at high speeds without lag time.
VirtuaBroker’s proprietary Price Search (PS) algorithm allows real time price searches across all connected exchanges to determine the best purchase prices and worst purchase prices per exchange.
VirtuaBroker’s proprietary Engine combines its HPC and PS to conduct real time transactions based on the best prices across all connected exchanges.
VirtuaBroker has 6 exchanges connected to its Price Search algorithm: Binance, Bittrex, Bitfinex, Kraken, Hitbtc, Coinbase Pro.
VirtuaBroker, whose platform is based on Artificial Intelligence (AI) and offers a full range of trading services, such as portfolio management, price search function, and much more. VirtuaBroker’s Cryptocurrency Trading Platform is your 24/7 account manager. Customers will save time and be provided with an optimal trading experience. The AI Platform allows users to optimize the trades that they require according to their selected objectives and allows them to make decisions based on market sentiment data. VirtuaBroker’s security policy is its pillar and is based on a five-tiered security stack, including Fraud Protection, Privacy Protection, Encryption and Network Defenses, VirtuaBroker Security ID and Security Alerts.
With the recent IPO of Coinbase, which valued it at over $85 billion and the announcements of Tesla and Mastercard joining the Crypto revolution, the management of NSAV believes that this will be a major step in fulfilling the Company’s ambition of being a leading player in the over $200 billion annual cryptocurrency market.
Dani Garcia, founder and CTO of VirtuaBroker stated, “After three years of back-end development, I am looking forward to engaging the fragmented crypto market with a software as a service that will improve user experience in trading across all exchanges.”
James Tilton, president of NSAV stated, “We are thrilled that after a bit of a quiet period, VirtuaBroker is now kicking into high gear and the announcements of developments with its one-of-a-kind, Cryptocurrency Trading Platform, will now begin to come at a furious pace. I, like all NSAV shareholders can’t wait for the full launch at the end of May, which is right on schedule.”
NSAV’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.
For further information please contact NSAV at email@example.com
The NSAV Twitter account can be accessed at https://twitter.com/nsavtech
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.
Net Savings Link, Inc.
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