[ Read time: 3 minutes]

Today’s number is $400 million. That is the amount Uber has sold its stake in Careem’s super app business.

Hello and welcome back to news, trends & insights in the industry.

In today’s edition:

• 3 Start-ups ( Uber, Arrival, Celcius)

• 2 Old guards (UPS, GSBN)

• 1 Autonomous Trucking(ELDs)

• 1 Logistics Origins (Henry Ford’s Supply Chain)

Let’s dive in.

In the Box

Celcius raises $12 million in Series A

The end-to-end cold supply chain start-up has closed $12 million in its Series A to solve the fragmented cold supply chain and reduce wastage.

The Navi Mumbai-based start-up offers last-mile deliveries that focus on the aggregation of existing small reefer vehicles and use its ‘Vahaan Vikas Yojana’ to introduce new assets in the sector, creating opportunities for smaller transporters across India

The funding was led by IvyCap Ventures with the participation of existing investors including:

• VCats,

• Huddle,

• Eaglewings Ventures (EVAN)

• Mumbai Angels,

• Supply Chain Labs,

• Endurance Capital

Uber sells $400 million stake in Careem

The American ride-hailing giant bought, Careem - Middle-East based in 2019 and is now spinning out its super app business with a $400 million investment from Emirates Telecommunications Group (e&).

The UAE telco giant took a 50.03% stake in the new company Careem Technologies. Following the spin-up, the company split into two;

• Careem Ride

• Careem Technologies

The Careem CEO and co-founder Mudassir Sheikha said the funding will be used to “scale the Super App and build category-leading verticals in all our key markets.”

Arrival to reSPAC for about $468 million

The troubled electric van automaker Arrival is set for another SPAC merger with Kensington Capital Acquisition Corp. V.

The double Special Purpose Acquisition is expected to close in the second half of the year which puts the enterprise value of Arrival at $524 million.

This is a huge devaluation from its 2020 merger with CIC Merger Corp which valued the company at $5.24 billion.

Technology

Autonomous trucks may not require ELDs

An ELD is an electronic logging device that is used by drivers of commercial motor vehicles (CMVs) to automatically record driving time and Hours of Service (HOS) records, as well as capture data on the vehicle's engine, movement, and miles driven

With autonomous trucks not having drivers, the essence of ELDs may not be necessary.

However, according to Freightwaves, Gerardo Interiano, the vice president of Aurora Innovation in charge of government relations and public affairs had this to say;

“We’re integrating advanced monitoring tools into our autonomous trucks that will track the health of each vehicle’s sensors, brakes, and other systems. This will be critical as we work toward deploying driverless trucks that operate nearly 24/7 – expanding customers’ freight capacity and stopping only for loading, fueling, and maintenance.”

Old Guards

UPS

Around 82 employees at the Southfield, Michigan, headquarters of Sandler Travis Trade Advisory Services will be laid off.

The logistic giant announced it lay off employees at a subsidiary providing global trade management service due to a decline in business.

GSBN

The Hong-Kong based Global Shipping Business Network (GSBN) now operates the largest blockchain-based logistic platform.

Considered TradeLens alternative, is a non-profit organization with eight shareholders each voting on the governance of the blockchain.

The members include the shipping companies Cosco, OOCL, and Hapag-Lloyd, and five terminal operators – Hutchison Ports, SPG Qingdao Port, PSA International, Shanghai International Port Group, and Cosco Shipping Ports.

Logistics Origins

Henry Ford on efficient supply chain

During the early 1900s, Henry Ford developed the concept of the assembly line, which involved breaking down the manufacturing process into smaller and more manageable steps.

This allowed workers to specialize in specific tasks, reducing the need for extensive training and improving productivity.

In addition, the assembly line helped Ford to cut down on the amount of time and resources required to build a car.

Ford was able to produce a car in just 93 minutes, which was an unprecedented feat at the time.

To further increase efficiency, Ford introduced a number of other innovations in supply chain management.

One of the most significant was the creation of the first standardized interchangeable parts.

This meant that parts could be produced in large quantities and then used in any car that needed them, reducing the need for custom manufacturing and improving overall efficiency.

Henry Ford's contribution to the world of supply chain management is undeniable.

His innovations in assembly line production, interchangeable parts, and vertical integration revolutionized the manufacturing industry and continue to influence modern supply chain practices.

Thank you for reading.

My goal is to break down complex technologies in the logistics and supply chain industry. Hope it is worthwhile.

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Over and out,

Okerosi