Palred Technologies has received an approval for investment of Rs 30 crore in its subsidiary Palred Online Technologies which owns and operates LatestOne.com - lndia’s largest e-tailer for mobile accessories. The board of directors at its meeting held on April 11, 2017 has approved for the same.
Post this investment, LatestOne.com will be valued at Rs 225 crore. The actual cash infusion into LatestOne.com, post this round will be Rs 60 crore, making it one of the most capital efficient vertical focused e-tailers in the country.
Palred Technologies is a provider of software solutions for transportation and logistics industry. It offers solutions in the areas of freight forwarding industry, customs brokerage, contract logistics, shipper logistics and services. The firm also provides services like consulting, software development and system integration and implementation.