Logistics unicorn Delhivery acquires SaaS startup Primaseller
The acquisition of Primaseller is expected to strengthen the technology capabilities of Delhivery.
Gurugram headquartered logistics unicornhas acquired , a SaaS startup focused on omnichannel retailers, for an undisclosed value.
Founded by Mohammed Ali and Vivek Subramanian in 2013, Primaseller is headquartered in California with a team in Bengaluru.
Commenting on the acquisition, Kapil Bharati, Co-founder and Chief Technology Officer at Delhivery, said,
“This development will help us bolster our technical capabilities and stay ahead of the curve, given that technology has and continues to be our core business differentiator. It further helps us strengthen our long-term vision of becoming the operating system for commerce in India.”
In February 2018, Delhivery had announced the acquisition of the Indian business of Aramex, a Dubai-based logistics firm. Founded in 2011, this unicorn has a network of over 18,000 pin-codes and 2,500 cities. It also has trucking terminals across Delhi, Mumbai, and Bengaluru.
Delhivery claims to have fulfilled over 900 million transactions since inception, providing a full suite of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B & B2C warehousing, and technology services. The customers include large & small ecommerce companies, SMEs, large enterprises, and brands.
Mohammed Ali, the CEO of Primaseller, added, "We have known the team at Delhivery for several years now, and are truly excited to come on-board. We can think of no better team or company to work with to accelerate our joint vision for the future."
Primaseller is a SaaS Platform for omnichannel retailers allowing businesses to manage inventory and orders across channels in a more efficient manner.
Delhivery narrowed its losses to Rs 269 crore in FY20 from Rs 1772.7 crore in FY19, on the back of increased revenue, resulting from increased ecommerce activities amidst a nationwide lockdown. The consolidated revenue of the company rose by 76.4 percent to Rs 2,988.6 crore in FY20, as compared to Rs 1694 crore last financial year. Its losses in FY18 stood at Rs 692 crore, with revenue of Rs 1,073 crore.
Edited by Megha Reddy