Retail India News: VingaJoy's BT-003 Resonates with India's Fitness Culture
Retail India News: VingaJoy's BT-003 Resonates with India's Fitness Culture

Gadget accessory and consumer electronics brand, VingaJoy, introduces the BT-003 Infinite Series wireless earbuds, a sonic delight for music and fitness enthusiasts in India. Priced attractively at just Rs 1999, these earbuds promise a premium audio experience with powerful sound quality and an impressive 30 hours of playtime.

The VingaJoy BT-003 earbuds, housed in a distinctive partially transparent case, not only deliver a unique allure but also boast a substantial 200mAh battery capacity. This ensures 30 hours of playtime at moderate volume, making them an ideal companion for focused and enjoyable gym sessions. The lightweight and stylish design further elevates their appeal. The earbuds also feature user-friendly tap controls for call management, offering seamless call acceptance and rejection.

Designed for fitness enthusiasts, the VingaJoy BT-003 earbuds are sweat-resistant, providing a hassle-free wireless experience during intense workout sessions. With Bluetooth v5.0, users can enjoy efficient connectivity, while dual mic support and touch controls enhance call management and interaction with virtual assistants like Siri and Google Assistant. The earbuds can also function independently after successful auto-pairing.

Mandeep Arora, Co-Founder of VingaJoy said, “With VingaJoy's diverse hearable portfolio, we aim to provide consumers with the best and most innovative products. The BT-003 Infinite earbuds showcase our commitment to creativity and hard work, evident in the product's design. Featuring deep bass and a 30-hour playtime, these earbuds will enhance the workout experience for fitness enthusiasts.

Offering a 6-month warranty, the VingaJoy BT-003 earbuds are available on popular e-commerce platforms such as Flipkart, Amazon, and UBON's official website, as well as at nearby retail stores.

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[Funding Alert] Shadowfax Bags $100 mn in Series E Funding Round to Expand Logistics Network
[Funding Alert] Shadowfax Bags $100 mn in Series E Funding Round to Expand Logistics Network

Shadowfax has concluded its Series E funding round, raising $100 million in investments, led by TPG NewQuest, with continued support from existing investors, such as Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital. Additionally, Eight Roads Ventures, Shadowfax’s initial institutional investor since the Series A round in 2015, made a partial exit, reflecting the company's growth trajectory and ability to generate shareholder value. This financing round comprises a mix of primary, secondary, and venture debt funding, reinforcing Shadowfax's market position.

Over the next 18 months, Shadowfax will deploy the raised capital to bolster its middle-mile network and extend last-mile delivery services to encompass all 20,000 pin codes across India. A portion of the funds will be allocated to develop advanced services for Direct-to-Consumer (D2C) brands, leveraging state-of-the-art technologies to enhance Shadowfax’s express delivery capabilities. These expansion and innovation endeavors are pivotal in solidifying Shadowfax’s competitive advantage in the retail logistics sector.

Abhishek Bansal, CEO of Shadowfax said, "Our ability to capture a greater share of the market, even in a tough economic climate, is a testament to the core strength of our business. Now having another marquee investor on the board only adds to our confidence in what we're building."

Amit Gupta, Partner and Head of India and Southeast Asia, TPG NewQuest said, "Shadowfax is revolutionizing the e-commerce logistics sector in India. We have been impressed with the tech stack they have built. This helps with the delivery of superior service metrics and allows them to quickly adapt their services to client’s changing needs at the lowest price. We are excited to be partnering with them.

Shweta Bhatia, Partner and Head of Technology, Consumer and Financial Services Investments India, Eight Roads Ventures said, “Our partnership with Abhishek, Vaibhav, Praharsh and Gaurav spans nearly a decade and we at Eight Roads Ventures have been fortunate to witness Shadowfax’s scaleup journey right from the early days when 3PL for new-age commerce was beginning to take root. As the market evolves, we are excited for the company’s continued success as the preferred partner of choice for e-commerce and express logistics on the back of it’s industry-leading tech innovation and operational excellence.

Ashish Dave, CEO of Mirae Asset Venture Investments (India) said, "Shadowfax is our first investment in India and we have participated in each subsequent round which is a testament to the strong performance that the company has delivered over successive quarters for the last 5 years. We believe that logistics is fundamental to e-commerce and hyperlocal commerce and that it enables the growth of these markets. Abhishek and Vaibhav together with their team have built a highly scalable platform and have continued to deliver even during challenging periods. Throughout the last 5 years, they have invested in growing the network and the organization while also delivering on the right financial metrics. We are pleased to be a long-term partner of the company and to back the vision of the founders and management."

Shadowfax's transition to a full-stack parcel business model has resulted in consistent EBITDA profits, with three consecutive quarters of profitability in the current financial year (April to December 2023). As Shadowfax celebrates these milestones, it remains steadfast in its vision for the future, aiming to achieve its first full financial year of positive EBITDA in FY24, accounting for ESOP costs.


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